AFLAC INC (AFL) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:AFL • US0010551028

117.15 USD
-0.32 (-0.27%)
At close: Feb 6, 2026
117.1 USD
-0.05 (-0.04%)
After Hours: 2/6/2026, 8:17:04 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

Taking everything into account, AFL scores 4 out of 10 in our fundamental rating. AFL was compared to 147 industry peers in the Insurance industry. While AFL is still in line with the averages on profitability rating, there are concerns on its financial health. AFL does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • AFL had positive earnings in the past year.
  • AFL had a positive operating cash flow in the past year.
  • AFL had positive earnings in 4 of the past 5 years.
  • Of the past 5 years AFL 4 years had a positive operating cash flow.
AFL Yearly Net Income VS EBIT VS OCF VS FCFAFL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

1.2 Ratios

  • With a decent Return On Assets value of 3.41%, AFL is doing good in the industry, outperforming 69.39% of the companies in the same industry.
  • With a decent Return On Equity value of 14.53%, AFL is doing good in the industry, outperforming 68.71% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 3.81%, AFL is in the better half of the industry, outperforming 65.31% of the companies in the same industry.
  • AFL had an Average Return On Invested Capital over the past 3 years of 3.95%. This is significantly below the industry average of 14.93%.
Industry RankSector Rank
ROA 3.41%
ROE 14.53%
ROIC 3.81%
ROA(3y)3.83%
ROA(5y)3.43%
ROE(3y)20.97%
ROE(5y)18.03%
ROIC(3y)3.95%
ROIC(5y)3.48%
AFL Yearly ROA, ROE, ROICAFL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 23.55%, AFL belongs to the top of the industry, outperforming 94.56% of the companies in the same industry.
  • In the last couple of years the Profit Margin of AFL has grown nicely.
  • The Operating Margin of AFL (29.97%) is better than 91.84% of its industry peers.
  • AFL's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 29.97%
PM (TTM) 23.55%
GM N/A
OM growth 3Y11.49%
OM growth 5Y10.66%
PM growth 3Y13.73%
PM growth 5Y14.22%
GM growth 3YN/A
GM growth 5YN/A
AFL Yearly Profit, Operating, Gross MarginsAFL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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2

2. Health

2.1 Basic Checks

  • AFL has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • There is no outstanding debt for AFL. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
AFL Yearly Shares OutstandingAFL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
AFL Yearly Total Debt VS Total AssetsAFL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B

2.2 Solvency

  • AFL has a debt to FCF ratio of 3.34. This is a good value and a sign of high solvency as AFL would need 3.34 years to pay back of all of its debts.
  • AFL has a Debt to FCF ratio (3.34) which is comparable to the rest of the industry.
  • AFL has a Debt/Equity ratio of 0.30. This is a healthy value indicating a solid balance between debt and equity.
  • AFL has a Debt to Equity ratio (0.30) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.3
Debt/FCF 3.34
Altman-Z N/A
ROIC/WACC0.47
WACC8.14%
AFL Yearly LT Debt VS Equity VS FCFAFL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
AFL Yearly Current Assets VS Current LiabilitesAFL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

2

3. Growth

3.1 Past

  • AFL shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.88%.
  • AFL shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.67% yearly.
EPS 1Y (TTM)3.88%
EPS 3Y11.37%
EPS 5Y8.67%
EPS Q2Q%0%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%0%

3.2 Future

  • Based on estimates for the next years, AFL will show a small growth in Earnings Per Share. The EPS will grow by 4.19% on average per year.
  • The Revenue is expected to grow by 2.51% on average over the next years.
EPS Next Y-1.64%
EPS Next 2Y2.41%
EPS Next 3Y4.19%
EPS Next 5YN/A
Revenue Next Year-0.32%
Revenue Next 2Y0.56%
Revenue Next 3Y2.51%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
AFL Yearly Revenue VS EstimatesAFL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 5B 10B 15B 20B
AFL Yearly EPS VS EstimatesAFL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6 8

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3

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 15.62, AFL is valued correctly.
  • AFL's Price/Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 27.92, AFL is valued a bit cheaper.
  • Based on the Price/Forward Earnings ratio of 14.89, the valuation of AFL can be described as correct.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AFL indicates a slightly more expensive valuation: AFL is more expensive than 61.90% of the companies listed in the same industry.
  • AFL is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 27.78, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 15.62
Fwd PE 14.89
AFL Price Earnings VS Forward Price EarningsAFL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as AFL.
  • AFL's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. AFL is more expensive than 68.03% of the companies in the same industry.
Industry RankSector Rank
P/FCF 23.86
EV/EBITDA 10.27
AFL Per share dataAFL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

  • AFL has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.8
EPS Next 2Y2.41%
EPS Next 3Y4.19%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 2.08%, AFL has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.21, AFL has a dividend in line with its industry peers.
  • AFL's Dividend Yield is comparable with the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 2.08%

5.2 History

  • On average, the dividend of AFL grows each year by 13.11%, which is quite nice.
  • AFL has been paying a dividend for at least 10 years, so it has a reliable track record.
  • AFL has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)13.11%
Div Incr Years34
Div Non Decr Years34
AFL Yearly Dividends per shareAFL Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • 28.14% of the earnings are spent on dividend by AFL. This is a low number and sustainable payout ratio.
  • AFL's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP28.14%
EPS Next 2Y2.41%
EPS Next 3Y4.19%
AFL Yearly Income VS Free CF VS DividendAFL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B
AFL Dividend Payout.AFL Dividend Payout, showing the Payout Ratio.AFL Dividend Payout.PayoutRetained Earnings

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AFLAC INC

NYSE:AFL (2/6/2026, 8:17:04 PM)

After market: 117.1 -0.05 (-0.04%)

117.15

-0.32 (-0.27%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-04
Earnings (Next)04-28
Inst Owners58.94%
Inst Owner Change0.43%
Ins Owners0.78%
Ins Owner Change-4.7%
Market Cap61.40B
Revenue(TTM)N/A
Net Income(TTM)4.17B
Analysts55.24
Price Target113.39 (-3.21%)
Short Float %1.55%
Short Ratio3.03
Dividend
Industry RankSector Rank
Dividend Yield 2.08%
Yearly Dividend1.93
Dividend Growth(5Y)13.11%
DP28.14%
Div Incr Years34
Div Non Decr Years34
Ex-Date02-18
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)21.27%
Min EPS beat(2)3.7%
Max EPS beat(2)38.84%
EPS beat(4)2
Avg EPS beat(4)9.18%
Min EPS beat(4)-4.02%
Max EPS beat(4)38.84%
EPS beat(8)5
Avg EPS beat(8)8.24%
EPS beat(12)9
Avg EPS beat(12)10.33%
EPS beat(16)11
Avg EPS beat(16)8.31%
Revenue beat(2)1
Avg Revenue beat(2)1.13%
Min Revenue beat(2)-4.81%
Max Revenue beat(2)7.07%
Revenue beat(4)2
Avg Revenue beat(4)2.34%
Min Revenue beat(4)-21.36%
Max Revenue beat(4)28.46%
Revenue beat(8)4
Avg Revenue beat(8)0.43%
Revenue beat(12)7
Avg Revenue beat(12)1.66%
Revenue beat(16)11
Avg Revenue beat(16)2.22%
PT rev (1m)0.64%
PT rev (3m)0.6%
EPS NQ rev (1m)-0.8%
EPS NQ rev (3m)-0.24%
EPS NY rev (1m)1.24%
EPS NY rev (3m)10.47%
Revenue NQ rev (1m)-0.14%
Revenue NQ rev (3m)-1.61%
Revenue NY rev (1m)-0.38%
Revenue NY rev (3m)-3.04%
Valuation
Industry RankSector Rank
PE 15.62
Fwd PE 14.89
P/S 3.47
P/FCF 23.86
P/OCF 23.86
P/B 2.14
P/tB 2.14
EV/EBITDA 10.27
EPS(TTM)7.5
EY6.4%
EPS(NY)7.87
Fwd EY6.71%
FCF(TTM)4.91
FCFY4.19%
OCF(TTM)4.91
OCFY4.19%
SpS33.77
BVpS54.74
TBVpS54.74
PEG (NY)N/A
PEG (5Y)1.8
Graham Number96.11
Profitability
Industry RankSector Rank
ROA 3.41%
ROE 14.53%
ROCE 4.39%
ROIC 3.81%
ROICexc 4.03%
ROICexgc 4.12%
OM 29.97%
PM (TTM) 23.55%
GM N/A
FCFM 14.54%
ROA(3y)3.83%
ROA(5y)3.43%
ROE(3y)20.97%
ROE(5y)18.03%
ROIC(3y)3.95%
ROIC(5y)3.48%
ROICexc(3y)4.12%
ROICexc(5y)3.62%
ROICexgc(3y)4.23%
ROICexgc(5y)3.71%
ROCE(3y)4.56%
ROCE(5y)4.02%
ROICexgc growth 3Y16.53%
ROICexgc growth 5Y12.62%
ROICexc growth 3Y16.64%
ROICexc growth 5Y12.6%
OM growth 3Y11.49%
OM growth 5Y10.66%
PM growth 3Y13.73%
PM growth 5Y14.22%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.14
Health
Industry RankSector Rank
Debt/Equity 0.3
Debt/FCF 3.34
Debt/EBITDA 1.39
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 28.52
Cash Conversion 41.68%
Profit Quality 61.72%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC8.14%
ROIC/WACC0.47
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)70.18%
Profit Quality(5y)90.4%
High Growth Momentum
Growth
EPS 1Y (TTM)3.88%
EPS 3Y11.37%
EPS 5Y8.67%
EPS Q2Q%0%
EPS Next Y-1.64%
EPS Next 2Y2.41%
EPS Next 3Y4.19%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%0%
Revenue Next Year-0.32%
Revenue Next 2Y0.56%
Revenue Next 3Y2.51%
Revenue Next 5YN/A
EBIT growth 1Y11.33%
EBIT growth 3Y5.83%
EBIT growth 5Y7.05%
EBIT Next Year-7.19%
EBIT Next 3Y-1.6%
EBIT Next 5YN/A
FCF growth 1Y-24.1%
FCF growth 3Y-18.77%
FCF growth 5Y-13.08%
OCF growth 1Y-24.1%
OCF growth 3Y-18.77%
OCF growth 5Y-13.08%

AFLAC INC / AFL FAQ

What is the ChartMill fundamental rating of AFLAC INC (AFL) stock?

ChartMill assigns a fundamental rating of 4 / 10 to AFL.


Can you provide the valuation status for AFLAC INC?

ChartMill assigns a valuation rating of 3 / 10 to AFLAC INC (AFL). This can be considered as Overvalued.


What is the profitability of AFL stock?

AFLAC INC (AFL) has a profitability rating of 6 / 10.


Can you provide the financial health for AFL stock?

The financial health rating of AFLAC INC (AFL) is 2 / 10.


Can you provide the expected EPS growth for AFL stock?

The Earnings per Share (EPS) of AFLAC INC (AFL) is expected to decline by -1.64% in the next year.