Aflac Inc
Exchange: NYSESector: Financial ServicesIndustry: Insurance - Life
Aflac Incorporated, a Fortune 500 company, has helped provide financial protection and peace of mind for more than seven decades to millions of policyholders and customers through its subsidiaries in the U.S. and Japan. In the U.S., Aflac is the No. 1 provider of supplemental health insurance products. 1 In Japan, Aflac Life Insurance Japan is the leading provider of cancer and medical insurance in terms of policies in force. 2 The company takes pride in being there for its policyholders when they need us most, as well as being included in the World's Most Ethical Companies by Ethisphere for 20 consecutive years (2026) and Fortune's World's Most Admired Companies for 25 years (2026). In addition, the company became a signatory of the Principles for Responsible Investment (PRI) in 2021. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/español.
Did you know?
Profit margin of 21.2% — that's well above average.
Current Price
$110.48
+0.77%GoodMoat Value
$158.80
43.7% undervaluedProfile
Valuation (TTM)
Market Cap$57.90B
P/E15.88
EV$58.06B
P/B1.96
Shares Out524.11M
P/Sales3.37
Revenue$17.16B
EV/EBITDA12.64
Aflac Inc (AFL) Stock Analysis
GoodMoat Analysis
Aflac is a large, profitable life and supplemental health insurer with a strong brand and scale in its core markets. The GoodMoat target price of $158.80 suggests a significant margin of safety relative to the current price of $107.21. This valuation gap, combined with its financial stability, makes it a candidate for further investigation.
Read full analysis
Aflac Inc. is a leading provider of supplemental health and life insurance, best known for its brand and distribution in the U.S. and Japan. Applying the GoodMoat framework, its competitive advantages (moat) are anchored in a powerful brand and significant scale. It likely scores points for Brand & Culture (criterion 6), given its high recognition, and Scale Privilege (criterion 8) in its niche markets. While not a high-growth tech company, it exhibits strong quality indicators: a robust ROE of 12.4%, a solid profit margin of 21.2%, a manageable Debt/Equity ratio of 0.29, and a consistent dividend. The negative revenue growth of -9.9% YoY is a point for investigation but may be influenced by one-off factors common in insurance. The valuation assessment is the most compelling aspect. With a current P/E of 15.4 and a GoodMoat target price of $158.80, the implied upside of approximately 48% indicates a margin of safety well into the 'Favourable' (20-40%) or even 'Deeply Undervalued' (>40%) band per Section 4 of the framework. Following the Decision Framework (Section 6), Aflac appears to pass the initial Moat & Quality Gate with a likely adequate score, leading to a 'FAVOURABLE' signal at the Valuation & Risk Gate, given the substantial margin of safety and lack of immediate high-confidence red flags like extreme valuation or cash burn. The combination of a durable business model and an attractive price warrants a closer look by a value investor. Analysis based on data as of 2024-07-21.
Market Cap$57.90B
Current Price$110.48
P/E Ratio15.88
Forward P/E—
PEG Ratio-0.68
EPS$6.82
Book Value$56.27
P/B Ratio1.96
AFL Financial Charts
FCF vs CAPEX
FCFCAPEX
Forward estimates use -11.9% FCF growth (CAGR)
Cash vs Debt
Net Debt: 2.2B
Revenue
22.3B
FY19
22.1B
FY20
21.6B
FY21
19.1B
FY22
18.7B
FY23
18.9B
FY24
17.2B
FY25
Net Income
3.3B
FY19
4.8B
FY20
4.2B
FY21
4.4B
FY22
4.7B
FY23
5.4B
FY24
3.6B
FY25
AFL 52-Week Range
$96.53
$116.84
50-Day MA: $110.84200-Day MA: $107.53
Did you know?
Price sits at 69% of its 52-week range.
Aflac Inc (AFL) Financial Summary
Aflac Inc (AFL) is a Financial Services company in the Insurance - Life industry, listed on NYSE. The stock currently trades at $110.48 with a market capitalization of $57.90B.
Key valuation metrics include a P/E ratio of 15.88, price-to-book ratio of 1.96, and EPS of $6.82. The company reports a profit margin of 21.2% and return on equity of 12.4%.
AFL Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $57.90B |
| P/E Ratio | 15.88 |
| EPS | $6.82 |
| P/B Ratio | 1.96 |
| P/S Ratio | 3.37 |
| EV/EBITDA | 12.64 |
| Dividend Yield | 2.07% |
| Profit Margin | 21.2% |
| Return on Equity | 12.4% |
| Debt/Equity | 0.29 |
AFL Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $22.31B | $3.30B |
| FY20 | $22.15B | $4.78B |
| FY21 | $21.55B | $4.23B |
| FY22 | $19.14B | $4.42B |
| FY23 | $18.70B | $4.66B |
| FY24 | $18.93B | $5.44B |
| FY25 | $17.16B | $3.65B |
Aflac Inc (AFL) Valuation
Based on GoodMoat's DCF model, Aflac Inc has a fair value estimate of $158.80. At the current price of $110.48, the stock appears 30.4% undervalued relative to our intrinsic value estimate.
AFL Quality Indicators
Aflac Inc maintains a profit margin of 21.2% and an operating margin of 27.7%. Return on equity stands at 12.4%. Debt-to-equity ratio is 0.29.
About Aflac Inc
Aflac Incorporated, a Fortune 500 company, has helped provide financial protection and peace of mind for more than seven decades to millions of policyholders and customers through its subsidiaries in the U.S. and Japan. In the U.S., Aflac is the No. 1 provider of supplemental health insurance products. 1 In Japan, Aflac Life Insurance Japan is the leading provider of cancer and medical insurance in terms of policies in force. 2 The company takes pride in being there for its policyholders when they need us most, as well as being included in the World's Most Ethical Companies by Ethisphere for 20 consecutive years (2026) and Fortune's World's Most Admired Companies for 25 years (2026). In addition, the company became a signatory of the Principles for Responsible Investment (PRI) in 2021. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/español.
AFL Free Cash Flow
Aflac Inc generated $2.56B in trailing twelve-month free cash flow, representing an FCF yield of 4.41%. This moderate FCF yield indicates reasonable cash generation.
AFL Shares Outstanding
Aflac Inc has 0.52 billion shares outstanding at a share price of $110.48, giving it a market capitalization of $57.90B.
AFL Recent Insider Trades
Recent insider transactions at Aflac Inc include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| Japan Post Holdings Co., Ltd. | SELL | 14,200 | $1.52M |
| LAKE CHARLES D II (Chairman & Rep. Director, ALIJ) | SELL | 5,000 | $536365.00 |
| Japan Post Holdings Co., Ltd. | SELL | 14,000 | $1.49M |