MARKETS / NYSE / AFL

NYSE · ACCIDENT & HEALTH INSURANCE · LARGE CAP

Aflac Inc. AFL

19 fiscal years on record · USD · FY2025 reported · SEC filings only

6 YEARS OF DIVIDEND GROWTH

Revenue

$17.2B

▼ 9.3% YoY

Net income

$3.6B

▼ 33.0% YoY

In brief

What this company does

The Parent Company and its subsidiaries provide financial protection to millions of policyholders and customers in Japan and the United States. The Company's principal business is supplemental health and life insurance products. The Company's insurance business consists of two reporting segments: Aflac Japan and Aflac U.S. Aflac Japan is the principal contributor to the Parent Company's consolidated earnings. Aflac Japan pioneered the cancer insurance market in Japan in 1974. Aflac Japan was represented by approximately 6,300 sales agencies at the end of 2025, with approximately 112,000 licensed sales associates employed by those agencies, including individual agencies. The Company designs its U.S. insurance products to provide supplemental coverage for people who already have major medical or primary insurance coverage, and Aflac U.S. insurance policies pay benefits regardless of other insurance. Aflac Incorporated was incorporated in 1973 under the laws of the state of Georgia.

Written from the business description in AFLAC INC's annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 17.2B

Revenue, FY2025 · full 19-year series below

Revenue $B Net income $B

FY2025 · Revenue 17.2 · Net income 3.6

Compound annual growth

Revenue

−3.6%

−5.0%

−1.9%

−1.3%

Net income

−6.2%

−5.3%

+3.7%

+3.0%

EPS, diluted

−0.5%

+0.4%

Dividend / share

+13.2%

+16.0%

Returned to shareholders

+11.9%

+15.6%

+9.5%

+14.1%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at −5.0% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

21 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 26.4% · Net 21.2%

ROE

FY2025 · ROE 13.1%

Gross margin—

Operating margin26.4%

Net margin21.2%

Return on assets3.1%

EBITDA—

Each USD of equity produced 13 cents of profit this year.

Cash & shareholders

USD 4.7B

returned in FY2025 · dividends + net buybacks

Net buybacks $B Dividends $B

FY2025 · Dividends 1.2 · Net buybacks 3.5

Dividends paidUSD 1.2B

Net buybacksUSD 3.5B

Share of profit129.4%

Consecutive raises6 years

USD 1.2B in dividends and USD 3.5B in buybacks — 129% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 116.5B

EquityUSD 29.5B

CashUSD 6.2B

Gross debtUSD 8.3B

Net debtUSD 2.1B

Net debt stands at 7% of equity.

The 19-year record

19 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue $B	17.2	18.9	18.7	19.1	21.6	22.1	22.3	21.8	21.7	22.6	20.9	22.7	23.9	25.4	22.2	20.7	18.3	16.6	15.4
Operating income $B	4.5	6.4	5.3	4.9	5.2	4.4	4.5	4.4	4.1	4.1	4.0	4.3	4.4	4.7	4.5	4.0	3.4	·	·
EBITDA $B	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Income tax $B	0.9	1.0	0.6	0.5	1.0	−0.6	1.1	1.1	−0.6	1.4	1.3	1.5	1.7	1.4	1.0	1.2	0.7	0.7	0.9
Net income $B	3.6	5.4	4.7	4.4	4.2	4.8	3.3	2.9	4.6	2.7	2.5	3.0	3.2	2.9	1.9	2.3	1.5	1.3	1.6
EPS, diluted $	6.82	9.63	7.78	6.93	6.25	6.67	4.43	3.77	5.77	3.21	5.85	6.50	6.76	6.11	4.12	4.92	3.19	2.62	3.31
Dividend / sh $	2.35	2.08	1.76	1.62	1.32	1.12	1.08	·	·	·	·	·	·	·	·	·	·	·	·
Payout %	33	20	21	22	20	16	23	27	14	25	26	22	20	21	28	23	35	35	23
ROE %	13.1	22.6	22.1	23.8	16.7	15.3	12.6	12.2	20.4	13.9	14.1	17.9	20.6	19.8	16.5	24.6	19.9	18.9	·
Shares out B	0.52	0.55	0.58	0.62	0.65	0.69	0.73	0.76	0.78	0.81	0.42	0.44	0.46	0.47	0.47	0.47	0.47	0.47	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 56 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 1 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityAccident & Health Insurance

Listed onNYSE

Incorporated inGeorgia

Fiscal year endsDecember 31

Data on record since2007