AFL
AFLAC IncorporatedStock · FinancialsS&P 500 Equal Weight 0.2% · S&P 500 0.08% · Russell 1000 0.08% · US Stock Market 0.07% · Russell 3000 0.07% · MSCI World 0.06% · MSCI ACWI 0.06%$115.28+0.71%
as of market close, Sep 11, 2026
☾ AH — —
AFL financial statements
The full income statement, balance sheet, and cash-flow statement for AFLAC Incorporated (AFL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 560.0M2024-09 555.5M2024-12 546.6M2025-03 540.6M2025-06 534.8M2025-09 524.1M2025-12 516.4M2026-03 509.0M2026-06 501.3M-10.5% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 17.2B-9.3% | 18.9B+1.2% | 18.7B-2.3% | 19.1B-11.2% | 21.6B-2.7% | |
| 5.34B+5.5% | 5.06B-3.2% | 5.23B-2.9% | 5.38B-8.3% | 5.87B-5.2% | ||
| Selling, general & administrative | 3.25B+7.9% | 3.01B-4.8% | 3.17B-2.6% | 3.25B-8.2% | 3.54B+3.5% | |
| Provision for credit losses | 191M-25.4% | 256M+84.2% | 139M+286.1% | 36.0M | — | |
| Operating income | — | — | — | 4.16B-15.7% | 4.93B+11.7% | |
| Interest expense | 217M+11.9% | 194M-0.5% | 195M-13.7% | 226M-5.0% | 238M-1.7% | |
| Other non-operating income | — | — | 39.0M | 0.00+100.0% | -73.0M-160.7% | |
| Gain (loss) on equity securities | 46.0M-61.0% | 118M+87.3% | 63.0M+118.5% | -340M-341.1% | 141M-32.9% | |
| Pre-tax income | 4.53B-29.4% | 6.42B+21.9% | 5.26B+8.1% | 4.87B-6.5% | 5.21B+25.2% | |
| Income tax | 887M-8.9% | 974M+61.5% | 603M+33.7% | 451M-53.8% | 977M+257.8% | |
| Net income | 3.65B-33.0% | 5.44B+16.8% | 4.66B+5.5% | 4.42B+4.4% | 4.23B-11.4% | |
| $6.82-29.2% | $9.63+23.8% | $7.78+12.3% | $6.93+10.9% | $6.25-6.3% | ||
| EPS (basic) | $6.84-29.3% | $9.68+23.9% | $7.81+12.2% | $6.96+10.8% | $6.28-6.1% | |
| Weighted-avg shares (basic) | 533M-5.3% | 562M-5.6% | 596M-6.1% | 635M-5.8% | 674M-5.6% | |
| Weighted-avg shares (diluted) | 535M-5.3% | 565M-5.6% | 599M-6.1% | 638M-5.8% | 677M-5.5% | |
| Dividends per share | $2.35+13.0% | $2.08+18.2% | $1.76+8.6% | $1.62+22.7% | $1.32+17.9% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 6.25B+0.3% | 6.23B+44.7% | 4.31B+9.2% | 3.94B-21.9% | 5.05B-1.8% | |
| 116B-0.9% | 118B-7.2% | 127B-3.8% | 132B-16.4% | 158B-4.6% | ||
| Property, plant & equipment | 351M-9.3% | 387M-13.0% | 445M-16.0% | 530M-1.5% | 538M-10.5% | |
| Goodwill | 260M-1.1% | 263M-0.8% | 265M+0.0% | 265M-1.1% | 268M-0.4% | |
| 87.0B-4.9% | 91.5B-12.7% | 105B-6.1% | 112B-10.2% | 124B-5.5% | ||
| Long-term debt | 8.33B+12.5% | 7.40B+2.2% | 7.24B-0.8% | 7.29B-6.9% | 7.84B+1.2% | |
| Operating lease liability (total) | 73.0M-19.8% | 91.0M-22.9% | 118M-15.1% | 139M+32.4% | 105M-26.6% | |
| Finance lease liability (total) | 6.00M+20.0% | 5.00M-16.7% | 6.00M-25.0% | 8.00M-33.3% | 12.0M+9.1% | |
| 29.5B+13.0% | 26.1B+18.7% | 22.0B+9.2% | 20.1B+18.3% | 17.0B-49.3% | ||
| Common stock | 136M+0.0% | 136M+0.0% | 136M+0.7% | 135M+0.0% | 135M+0.0% | |
| Additional paid-in capital | 3.02B+4.5% | 2.89B+4.4% | 2.77B+4.9% | 2.64B+4.4% | 2.53B+4.9% | |
| Retained earnings | 54.7B+4.6% | 52.3B+8.9% | 48.0B+8.2% | 44.4B+7.2% | 41.4B+8.9% | |
| Treasury stock | 29.8B+13.6% | 26.2B+12.1% | 23.4B+13.7% | 20.6B+13.1% | 18.2B+14.3% | |
| Accumulated other comprehensive income | — | — | -5.52B+14.1% | -6.43B+23.6% | -8.41B-194.1% | |
| Total liabilities & equity | 116B-0.9% | 118B-7.2% | 127B-3.8% | 132B-16.4% | 158B-4.6% | |
| Common shares issued | 1.36B+0.1% | 1.36B+0.1% | 1.36B+0.1% | 1.35B+0.1% | 1.35B+0.1% | |
| Common shares outstanding | 519M-5.7% | 550M-4.9% | 578M-6.0% | 615M-5.7% | 652M-5.8% | |
| Shares outstanding (cover) | 516M-5.5% | 547M-5.3% | 577M-5.7% | 612M-5.8% | 650M-5.6% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.56B-5.6% | 2.71B-15.1% | 3.19B-17.8% | 3.88B-23.2% | 5.05B-15.2% | ||
| Depreciation & amortization | 36.0M-10.0% | 40.0M+2.6% | 39.0M-13.3% | 45.0M+0.0% | 45.0M+9.8% | |
| Deferred income taxes | -228M+36.0% | -356M+66.4% | -1.06B-45.2% | -730M-518.6% | -118M+91.6% | |
| 1.56B-43.9% | 2.78B+240.4% | 817M+153.1% | -1.54B+35.2% | -2.38B+48.5% | ||
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other investing activities | 295M+583.6% | -61.0M-140.9% | 149M+233.0% | -112M-173.2% | -41.0M-115.5% | |
| -4.07B-16.7% | -3.49B+6.4% | -3.72B-4.8% | -3.55B-29.6% | -2.74B-145.7% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 3.53B+26.1% | 2.80B-0.0% | 2.80B+16.7% | 2.40B+4.3% | 2.30B+49.7% | |
| Dividends paid | 1.20B+10.2% | 1.09B+12.5% | 966M-1.3% | 979M+14.5% | 855M+11.2% | |
| Other financing activities | -38.0M-35.7% | -28.0M-64.7% | -17.0M-150.0% | 34.0M+230.8% | -26.0M+3.7% | |
| FX effect on cash | — | — | — | — | -24.0M-214.3% | |
| Net change in cash | 16.0M-99.2% | 1.92B+429.8% | 363M+132.8% | -1.11B-1131.1% | -90.0M-136.7% | |
| Interest paid | 197M+9.4% | 180M-2.7% | 185M-12.3% | 211M-0.9% | 213M+1.4% | |
| Income taxes paid | 1.17B-14.8% | 1.37B-12.9% | 1.57B+63.3% | 961M+9.2% | 880M+10.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 56.9B+0.7% | 56.5B+17.3% | 48.2B+7.8% | 44.7B+17.9% | 37.9B+23.9% | |
| P/E | 15.6×+50.3% | 10.4×-1.2% | 10.5×+21.4% | 8.7×-3.5% | 9.0×+39.9% | |
| P/S | 3.3×+11.1% | 3.0×+16.9% | 2.6×+14.7% | 2.2×+26.6% | 1.8×+27.3% | |
| P/B | 1.9×-10.9% | 2.2×+1.9% | 2.1×-5.2% | 2.2×+0.7% | 2.2×+144.2% | |
| Earnings yield | 6.4%-33.5% | 9.6%+1.2% | 9.5%-17.6% | 11.6%+3.6% | 11.2%-28.5% | |
| Dividend yield | 2.1%+6.0% | 2.0%-5.7% | 2.1%-5.3% | 2.3%-0.4% | 2.3%-10.2% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: AFL’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all AFL filings on SEC EDGAR → Not investment advice.