Aflac
Pays cash benefits through supplemental health and life insurance in Japan and the United States.
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Profile
Sells supplemental health and life insurance in Japan and the U.S., earning premiums and investment income while paying cash benefits for covered events. Cancer and medical policies anchor the Japan segment, the principal earnings contributor, while the U.S. business reaches individuals and employers mainly through workplaces.
Pays cash benefits that help cover medical and nonmedical costs left by primary insurance, through two segments: Aflac Japan and Aflac U.S. Japan centers on cancer and medical coverage, supplemented by nursing-care and life products; the U.S. sells accident, disability, critical-illness, hospital-indemnity, dental, vision, and life policies.
Pairs product specialization with broad distribution. Japanese policies reach customers through independent and affiliated agencies, including Japan Post, Dai-ichi Life, Daido Life, and banks. U.S. policies are sold mainly at workplaces through independent agents and brokers, alongside a direct-to-consumer channel.
Premiums and investment income fund policyholder benefits. Japan is the principal earnings contributor, making results sensitive to Japanese insurance regulation, partner distribution, interest rates, and yen-dollar translation.
Company facts
Categories
Key statistics
Year to date +5.7% · Average volume (30d) 1.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 19, 2026 | Wells Fargo | Reiterate | Equal Weight | $105 | $122 |
| Aug 19, 2026 | Wolfe Research | Initiate | Underperform | ||
| Aug 10, 2026 | Piper Sandler | Reiterate | Overweight | $130 | $138 |
| Aug 10, 2026 | Mizuho Securities | Target | $112 | $116 | |
| Jul 10, 2026 | Jefferies | Reiterate | Hold | $84 | $108 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $1.76 | $1.75 | −0.6% | $4.11B | $4.12B | +0.3% | −1.62% |
| Apr 29, 2026Q1 FY26 | $1.79 | $1.75 | −2.2% | $4.20B | $4.35B | +3.4% | −2.19% |
| Feb 4, 2026Q4 FY25 | $1.69 | $1.57 | −7.1% | $4.25B | $4.87B | +14.5% | +3.39% |
| Nov 4, 2025Q3 FY25 | $1.77 | $2.49 | +40.7% | $4.37B | $4.79B | +9.8% | +2.23% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.45B | $4.22B | $4.79B | $4.90B | $4.32B | $4.08B | |
| Gross profit | $490.0M | $1.18B | $2.10B | $2.93B | $2.48B | $2.23B | |
| Operating income | $145.0M | $822.0M | $1.99B | $1.60B | $1.23B | $995.0M | |
| Net income | $29.0M | $599.0M | $1.64B | $1.38B | $1.02B | $825.0M | |
| Diluted EPS | $0.05 | $1.11 | $3.08 | $2.59 | $1.98 | $1.63 | |
| Gross margin | 14.2% | 28.0% | 43.9% | 59.9% | 57.5% | 54.6% | |
| Operating margin | 4.2% | 19.5% | 41.6% | 32.7% | 28.4% | 24.4% |
Fiscal years (4-quarter sums)FY21 $21.96B · FY22 $19.21B · FY23 $18.89B · FY24 $19.13B · FY25 $17.36B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $93.65B · Total debt $8.73B · Total assets $115.96B · Shareholders' equity $30.31B
Dividends
Raised for 40 straight years — most recently to $0.61 from $0.58 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 19, 2026 | Aug 19 | Sep 1 | $0.61 | |
| May 20, 2026 | May 20 | Jun 1 | $0.61 | |
| Feb 18, 2026 | Feb 18 | Mar 2 | $0.61 | raised from $0.58 |
| Nov 19, 2025 | Nov 19 | Dec 1 | $0.58 | |
| Aug 20, 2025 | Aug 20 | Sep 2 | $0.58 | |
| May 21, 2025 | May 21 | Jun 2 | $0.58 | |
| Feb 19, 2025 | Feb 19 | Mar 3 | $0.58 | raised from $0.50 |
| Nov 20, 2024 | Nov 20 | Dec 2 | $0.50 |
Ownership
Shares outstanding 508.99M · Float 504.64M · 99.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Japan Post Holdings Co., Ltd. · 10 percent owner | 50.75M | 9.97% | Form 4 | Aug 28, 2026 |
| BlackRock, Inc. | 34.92M | 6.86% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 29.90M | 5.88% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 24.36M | 4.79% | 13F | Aug 13, 2026 |
| State Street Corp | 23.51M | 4.62% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 26, 2026 | Japan Post Holdings Co., Ltd. | 10 percent owner | −13,200 | $117.35 |
| Aug 25, 2026 | Japan Post Holdings Co., Ltd. | 10 percent owner | −12,700 | $116.49 |
| Aug 24, 2026 | Japan Post Holdings Co., Ltd. | 10 percent owner | −13,500 | $118.02 |
| Aug 21, 2026 | Japan Post Holdings Co., Ltd. | 10 percent owner | −12,900 | $116.28 |
| Aug 20, 2026 | Japan Post Holdings Co., Ltd. | 10 percent owner | −13,100 | $116.60 |
Peers
- Unum Group
Top U.S. rival in group disability and worksite voluntary benefits.
- MetLife
Global benefits giant bundling supplemental health into core employer plans.
- Globe Life
U.S. supplemental cancer and life specialist for middle-income households.
- Prudential Financial
Group insurance and Gibraltar Life Japan contest both Aflac markets.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Aflac | $116.52 | −0.00% | $59.31B | 12.6 | 15.9 | 3.3 | −2.4% |
| Unum Group | $93.38 | +0.31% | $14.73B | 21.7 | 10.4 | 1.1 | −13.8% |
| MetLife | $97.91 | +1.46% | $62.10B | 18.5 | 9.2 | 0.8 | +10.0% |
| Globe Life | $172.79 | +0.05% | $13.42B | 11.4 | 10.4 | 2.2 | +8.0% |
| Prudential Financial | $119.79 | +0.01% | $41.57B | 10.8 | 8.5 | 0.6 | +2.8% |
| Median | 15.0 | 9.8 | 1.0 | +5.4% |