Last 47 quarters of trend data · Financial Services · Insurance - Life
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Aflac Incorporated's quarterly P/E stands at 10.6x, up 40.8% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 17.4% YoY to 8.2x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 16.63 | 10.64 | 9.07 | 23.75 | 524.48 | 7.56 | — | 7.20 | 6.60 | 44.84 | 7.27 | 6.44 | 8.36 |
| — | +40.8% | — | +229.8% | +7841.1% | -83.1% | — | +11.9% | -21.0% | -22.7% | +45.9% | +0.5% | -18.0% | |
| P/S Ratio | 3.36 | 3.00 | 3.10 | 3.37 | 4.40 | 2.66 | 5.16 | 2.45 | 2.28 | 3.13 | 2.26 | 2.03 | 2.05 |
| — | +12.7% | -39.9% | +37.1% | +93.1% | -15.0% | +128.0% | +20.7% | +11.2% | +12.3% | +20.1% | +21.9% | +0.4% | |
| P/B Ratio | 2.05 | 1.99 | 2.07 | 2.09 | 2.31 | 2.24 | 2.52 | 1.94 | 2.11 | 2.19 | 2.01 | 2.06 | 2.00 |
| — | -11.2% | -17.9% | +7.4% | +9.6% | +2.0% | +25.6% | -5.6% | +5.2% | -1.4% | +36.7% | +52.7% | +40.7% | |
| P/FCF | 22.90 | 46.56 | 11.87 | 35.58 | 25.81 | 43.88 | 12.33 | 49.63 | 14.60 | 14.48 | 8.93 | 23.80 | 11.13 |
| — | +6.1% | -3.8% | -28.3% | +76.8% | +203.0% | +38.2% | +108.5% | +31.2% | +33.5% | +8.2% | +36.4% | +33.4% | |
| EV / EBITDA | 11.00 | 8.21 | 5.80 | 17.87 | 109.19 | 6.99 | 176.69 | 6.44 | 6.04 | 44.23 | 6.51 | 6.09 | 8.05 |
| — | +17.4% | -96.7% | +177.4% | +1707.9% | -84.2% | +2613.2% | +5.8% | -25.0% | +91.9% | -9.7% | +10.0% | -8.5% | |
| EV / EBIT | 13.08 | 9.49 | 7.49 | 17.87 | 109.19 | 6.99 | 176.69 | 6.44 | 6.04 | 44.23 | 6.51 | 6.09 | 8.05 |
| — | +35.8% | -95.8% | +177.4% | +1707.9% | -84.2% | +2613.2% | +5.8% | -25.0% | +91.9% | -9.7% | +10.0% | -8.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Aflac Incorporated's operating margin was 32.7% in Q4 2025, down 8.9 pp QoQ and down 6.1 pp YoY. The trailing four-quarter average of 24.5% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 30.3% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.9% | 59.9% | 43.9% | 28.0% | 14.2% | 46.0% | 15.8% | 45.3% | 45.5% | 100.0% | 100.0% | 100.0% | 100.0% |
| — | +30.3% | +178.1% | -38.0% | -68.8% | -54.0% | -84.2% | -54.7% | -54.5% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin | 26.6% | 32.7% | 41.6% | 19.5% | 4.2% | 38.8% | 3.0% | 39.2% | 39.9% | 7.5% | 35.9% | 35.3% | 27.8% |
| — | -15.7% | +1272.4% | -50.2% | -89.5% | +416.5% | -91.5% | +11.0% | +43.7% | -42.3% | +27.2% | +10.1% | +10.5% | |
| Net Margin | 20.9% | 28.2% | 34.2% | 14.2% | 0.8% | 34.6% | -3.1% | 34.0% | 34.6% | 6.9% | 31.2% | 31.6% | 24.6% |
| — | -18.6% | +1215.9% | -58.3% | -97.6% | +397.9% | -109.8% | +7.7% | +40.5% | +51.1% | -17.5% | +20.8% | +20.9% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.1% | 4.7% | 5.9% | 2.2% | 0.1% | 7.5% | -0.4% | 7.1% | 8.3% | 1.2% | 7.3% | 8.1% | 6.0% |
| — | -36.5% | +1704.3% | -68.4% | -98.7% | +522.3% | -105.0% | -12.9% | +38.7% | +43.7% | +3.3% | +62.9% | +78.4% | |
| ROA | 3.1% | 1.2% | 1.3% | 0.5% | 0.0% | 1.5% | -0.1% | 1.4% | 1.5% | 0.2% | 1.2% | 1.2% | 0.9% |
| — | -25.2% | +1875.1% | -65.9% | -98.4% | +626.6% | -106.1% | +16.5% | +67.7% | +49.4% | -9.2% | +24.8% | +29.6% | |
| ROIC | 11.8% | 3.9% | 5.0% | 2.1% | 0.4% | 5.9% | 0.3% | 5.6% | 6.3% | 0.9% | 5.8% | 5.9% | 4.3% |
| — | -34.3% | +1878.2% | -62.2% | -93.9% | +563.4% | -95.6% | -5.0% | +47.9% | -43.0% | +60.9% | +42.6% | +52.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Aflac Incorporated's Debt/EBITDA ratio is 4.5x, up from 3.3x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has declined for 3 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.31 | 0.33 | 0.29 | 0.29 | 0.32 | 0.29 | 0.34 | 0.33 | 0.31 | 0.35 | 0.38 |
| — | -0.7% | -4.9% | +14.7% | -12.7% | -14.2% | +4.6% | -17.5% | -10.1% | -9.4% | -1.4% | +23.4% | +42.6% | |
| Debt / EBITDA | 1.52 | 4.54 | 3.31 | 10.87 | 53.46 | 3.51 | 86.72 | 3.69 | 3.66 | 25.39 | 3.86 | 3.88 | 5.53 |
| — | +29.3% | -96.2% | +194.3% | +1361.7% | -86.2% | +2148.6% | -4.9% | -33.9% | +78.8% | -31.8% | -10.6% | -7.9% | |
| Current Ratio | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Quick Ratio | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Interest Coverage | 21.14 | 26.26 | 35.98 | 15.81 | 2.90 | 42.70 | 1.84 | 40.38 | 46.17 | 6.17 | 36.84 | 35.78 | 27.96 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Aflac Incorporated's current P/E is 16.6x. The average P/E over the last 4 quarters is 142.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Aflac Incorporated's current operating margin is 26.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Aflac Incorporated's business trajectory between earnings reports.