Aflac Incorporated (AFL) Earnings History
Profitable37 years of earnings data (1989–2025) · Positive TTM net income
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Aflac Incorporated (AFL) Earnings Overview
As of November 8, 2026, Aflac Incorporated (AFL) reported trailing twelve-month net income of $4.86B, reflecting -29.1% year-over-year growth. The company earned $9.62 per diluted share over the past four quarters, with a net profit margin of 20.9%.
Looking at the long-term picture, AFL's 5-year EPS compound annual growth rate (CAGR) stands at +0.5%, reflecting modest earnings expansion. The company achieved its highest annual net income of $5.44B in fiscal 2024.
Aflac Incorporated maintains industry-leading profitability with a gross margin of 38.9%, operating margin of 26.6%, and net margin of 20.9%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including MET ($3.63B net income, 4.4% margin), PRU ($3.78B net income, 5.9% margin), UNM ($243M net income, 5.7% margin), AFL has outperformed on profitability metrics. Compare AFL vs MET →
AFL Earnings vs Peers
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AFL Historical Earnings Data (1989–2025)
37 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3.65B | -33.0% | $4.64B | $6.83 | 20.9% | 26.6% |
| 2024 | $5.44B | +16.8% | $6.42B | $9.63 | 28.5% | 33.5% |
| 2023 | $4.66B | +5.5% | $5.26B | $7.78 | 24.7% | 27.9% |
| 2022 | $4.42B | +4.4% | $4.87B | $6.93 | 23.1% | 25.4% |
| 2021 | $4.23B | -11.4% | $5.21B | $6.39 | 19.6% | 24.2% |
| 2020 | $4.78B | +44.6% | $4.16B | $6.67 | 21.5% | 18.7% |
| 2019 | $3.30B | +13.2% | $4.45B | $4.43 | 14.9% | 20.0% |
| 2018 | $2.92B | -36.6% | $3.98B | $3.77 | 13.5% | 18.3% |
| 2017 | $4.60B | +73.1% | $4.02B | $5.48 | 21.3% | 18.6% |
| 2016 | $2.66B | +5.0% | $4.07B | $3.21 | 11.8% | 18.1% |
| 2015 | $2.53B | -14.2% | $3.86B | $2.93 | 12.2% | 18.6% |
| 2014 | $2.95B | -6.6% | $4.49B | $3.25 | 13.1% | 19.9% |
| 2013 | $3.16B | +10.2% | $4.82B | $3.38 | 13.3% | 20.2% |
| 2012 | $2.87B | +48.0% | $4.30B | $3.06 | 11.3% | 17.0% |
| 2011 | $1.94B | -16.8% | $2.95B | $2.06 | 8.8% | 13.4% |
| 2010 | $2.33B | +55.5% | $3.56B | $2.46 | 11.3% | 17.2% |
| 2009 | $1.50B | +19.4% | $2.23B | $1.60 | 8.2% | 12.2% |
| 2008 | $1.25B | -23.3% | $1.91B | $1.31 | 7.6% | 11.6% |
| 2007 | $1.63B | +10.2% | $2.50B | $1.66 | 10.6% | 16.2% |
| 2006 | $1.48B | +0.0% | $2.26B | $1.48 | 10.1% | 15.5% |
| 2005 | $1.48B | +17.1% | $2.23B | $1.46 | 10.3% | 15.5% |
| 2004 | $1.27B | +64.8% | $1.77B | $1.23 | 9.5% | 13.3% |
| 2003 | $768M | -6.5% | $1.20B | $0.74 | 6.7% | 10.5% |
| 2002 | $821M | +19.5% | $1.26B | $0.78 | 8.0% | 12.3% |
| 2001 | $687M | +0.0% | $1.08B | $0.64 | 7.2% | 11.3% |
| 2000 | $687M | +20.3% | $1.01B | $0.63 | 7.1% | 10.4% |
| 1999 | $571M | +17.2% | $778M | $0.52 | 6.6% | 9.0% |
| 1998 | $487M | -16.8% | $551M | $0.44 | 6.9% | 7.8% |
| 1997 | $585M | +48.5% | $0 | $0.52 | 8.1% | 0.0% |
| 1996 | $394M | +12.9% | $0 | $0.34 | 5.5% | 0.0% |
| 1995 | $349M | +19.2% | $0 | $0.30 | 4.9% | 0.0% |
| 1994 | $293M | +15.3% | $504M | $0.24 | 4.8% | 8.3% |
| 1993 | $254M | +38.5% | $4.44B | $0.21 | 5.1% | 88.7% |
| 1992 | $183M | +23.3% | $0 | $0.15 | 4.6% | 0.0% |
| 1991 | $149M | +26.9% | $0 | $0.12 | 4.5% | 0.0% |
| 1990 | $117M | +45.0% | $0 | $0.10 | 4.4% | 0.0% |
| 1989 | $81M | - | $0 | $0.07 | 3.3% | 0.0% |
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AFL — Frequently Asked Questions
Quick answers to the most common questions about buying AFL stock.
What is AFL earnings per share (EPS)?
AFL trailing twelve-month (TTM) diluted EPS is $9.62, reflecting -29.1% year-over-year growth. The 5-year EPS CAGR is +0.5%. Complete EPS history from 1989 to 2025 is available in the table on this page.
What is Aflac Incorporated's net income?
Aflac Incorporated (AFL) trailing twelve-month net income is $4.9B as of 2025. Earnings declined -29.1% year-over-year. Aflac Incorporated has been profitable for 37 consecutive years.
Is AFL profitable?
Yes, AFL is profitable with a TTM net income of $4.9B and a net profit margin of +20.9%. Aflac Incorporated has generated profits for 37 consecutive years.
What is AFL's earnings growth rate?
AFL compound annual EPS growth rates (CAGR): 1-Year: -29.1%, 3-Year: -0.5%, 5-Year: +0.5%, 10-Year: +8.8%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1989 to 2025.
What are AFL's profit margins?
Aflac Incorporated net profit margin is +20.9%, operating margin is +26.6%, and gross margin is +38.9%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +13.1%.
Is AFL growing earnings?
AFL earnings are declining — EPS fell -29.1% year-over-year. TTM net income dropped to $4.9B. This contrasts with the 5-year CAGR of +0.5%.
What was AFL's best earnings year?
Aflac Incorporated's highest annual net income on record is $5.4B, achieved in fiscal year 2024. Earnings history on this page spans 1989 to 2025 and includes all annual and quarterly figures.
What were AFL's earnings last quarter?
AFL's most recent reported quarter was Q2 2026. Net income was $825M with diluted EPS of $1.63. For a full breakdown of all quarters, see the quarterly earnings table on this page.