Aflac Inc (AFL)
Fair ValueFundamental
60
Price
$111.78
Market Cap
$56.93B
Part 1 · What the company is worth
Overview
Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates in two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers cancer, medical, nursing care, whole life, and GIFT insurance products, as well as WAYS and child endowment, and Tsumitasu insurance products in Japan. Its Aflac U.S. segment provides accident, disability, cancer, critical illness, hospital indemnity, dental, vision, and life insurance products in the United States. The company also provides hearing, final expense, pet, Medicare supplement, supplemental dental and vision, short-term disability, and absence management insurance products, as well as cafeteria plans. It sells its products to individuals, families, and business owners through individual, independent corporate, and affiliated corporate agencies; banks; independent associates/career agents; and brokers. Aflac Incorporated was founded in 1955 and is headquartered in Columbus, Georgia.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 17, 2026 with claude-haiku-4-5 — shared with all users
Through its Colonial Life brand, Unum sells accident, hospital indemnity, cancer and critical illness policies to employees at the workplace in the United States, the same worksite voluntary-benefits business that is Aflac U.S.
Its Group Benefits arm offers accident, critical illness and hospital indemnity cover to U.S. employers through the same brokers Aflac relies on, and it is also one of the foreign insurers selling health protection products in Japan.
Its Family Heritage and Liberty National divisions sell limited-benefit supplemental health cover, including cancer and critical illness, to middle-income American families and small-business employees.
One of Japan's largest life insurers, it sells medical and cancer cover — the "third sector" products from which Aflac draws most of its profits — to Japanese households through its own agents, bank branches and its Neo First Life arm.
Its life subsidiary, Tokio Marine & Nichido Life, specialises in "living protection" — medical and cancer policies for Japanese individuals — competing directly with Aflac Japan's core line.
After buying Allstate's Employer Voluntary Benefits business in April 2025, this insurer distributes supplemental accident, illness and life cover to millions of U.S. employees through workplace brokers.
Balance Sheet & Liquidity
Revenue
$18.07B
Trailing 12 months (through 6/30/2026)
Net Income
$4.86B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
-
Total Equity
$29.49B
Total Liabilities
$86.98B
Current Ratio
0.04
Interest Coverage
-
Debt/EBITDA
2.67
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$144.00
Current Price
$111.78
Margin of Safety
+22.4%
Fair Value Range
$107.59 - $180.41
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
12.06
ROE
12.4%
P/B Ratio
1.85
P/FCF
-
Gross Margin
-
ROIC
-
Profitability Radar
Value Creation (Economic Moat)
ROIC
-
WACC
6.5%
ROIC − WACC
-
Fundamental Analysis Criteria
Passed (12)
- EPS shows upward trend
- Price CAGR 12.73%
- P/B Ratio 1.85
- Debt/Equity ratio
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- ROE 16.4%
- Earnings Surprise avg 6.1%
- Share Dilution -5.4%
- Net Margin Trend 26.9% vs 15.3%
Failed (7)
- EPS CAGR 4.10%
- DCF valuation (Unknown)
- Revenue Growth 5Y -5.0%
- Analyst Consensus 13% Buy
- PEG Ratio 27.31
- Earnings Quality (OCF/NI) 0.54
- Piotroski F-Score 4/9
Unavailable (9)
- ROIC NaN%
- Gross Margin NaN%
- P/FCF NaN
- Dividend Payout NaN%
- Operating Margin NaN%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
Moderate: some gap between profits and cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Daniel Paul Amos | Chairman & CEO | 73 |
| Mr. Virgil Raynard Miller | President | 56 |
| Mr. Max Kristian Broden C.F.A. | Senior EVP & CFO | 46 |
| Mr. Bradley Eugene Dyslin C.F.A. | Executive VP & Global Chief Investment Officer | 59 |
| Ms. Audrey Boone Tillman Esq. | Senior EVP, & General Counsel | 60 |
| Ms. Robin Littrell Blackmon CPA, CGMA | Senior VP of Financial Services & Chief Accounting Officer | 61 |
| Mr. David A. Young | Vice President of Capital Markets | - |
| Mr. Bradley L. Knox | Senior VP & Counsel of Federal Relations | - |
| Mr. Steven Kent Beaver | Executive Vice President; Chief Financial Officer, Aflac Life Insurance Japan | 60 |
| Mr. Timothy L. Callahan CISM, CISSP, CRISC | Senior VP & Chief Information Security Officer | - |
Audit Risk
8
Board Risk
5
Compensation Risk
6
Shareholder Rights Risk
9
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-25
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-07
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-06
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for AFL, sourced from Markets Gazette.
- 5/21/2026NEUTRALAflac Follows Alphabet Into Japan’s Booming Yen Bond Market
Aflac Inc. has entered Japan's burgeoning yen bond market, successfully issuing ¥65.9 billion ($415 million) across four tranches. This move positions Aflac alongside other foreign entities capitalizing on Japan's credit market, which is experiencing increased activity. The issuance is a strategic financial maneuver for Aflac, aimed at diversifying funding sources and potentially leveraging favorable borrowing conditions in the Japanese market. While the issuance itself is a financial operation, its direct impact on Aflac's stock price is neutral, reflecting a standard corporate finance activity rather than a fundamental business development.
via Markets Gazette