Aflac Incorporated (AFL) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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AFL Revenue Growth
Revenue Breakdown (FY 2025)
AFL's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
AFL Revenue Analysis (2014–2025)
As of May 8, 2026, Aflac Incorporated (AFL) generated trailing twelve-month (TTM) revenue of $17.36 billion, reflecting significant decline in growth of -10.9% year-over-year. The most recent quarter (Q4 2025) recorded $4.90 billion in revenue, up 2.1% sequentially.
Looking at the longer-term picture, AFL's 5-year compound annual growth rate (CAGR) stands at -4.8%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $22.61 billion in 2014.
Revenue diversification analysis shows AFL's business is primarily driven by Aflac Japan Member (53%), Aflac US Member (39%), and Other Segments (7%). With over half of revenue concentrated in Aflac Japan Member, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including MET (+6.1% YoY), PRU (+1.9% YoY), and UNM (+4.8% YoY), AFL has underperformed the peer group in terms of revenue growth. Compare AFL vs MET →
AFL Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AFLCurrent | $17.4B | -10.9% | -4.8% | 26.6% | |
 MET | $77.1B | +6.1% | +2.6% | 6.0% | |
 PRU | $60.8B | +1.9% | +1.3% | 7.9% | |
 UNM | $13.1B | +4.8% | -0.1% | 7.2% | |
 GNW | $6.4B | -2.9% | -5.0% | 6.8% | |
 CNO | $4.5B | +0.9% | +3.3% | 6.5% |
AFL Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $17.44B | -8.8% | $6.79B | 38.9% | $4.64B | 26.6% |
| 2024 | $19.13B | +1.5% | $6.82B | 35.6% | $6.42B | 33.5% |
| 2023 | $18.84B | -1.6% | $18.84B | 100.0% | $5.26B | 27.9% |
| 2022 | $19.15B | -11.1% | $19.15B | 100.0% | $4.87B | 25.4% |
| 2021 | $21.55B | -3.2% | $21.55B | 100.0% | $5.21B | 24.2% |
| 2020 | $22.26B | +0.1% | $22.26B | 100.0% | $4.16B | 18.7% |
| 2019 | $22.24B | +2.5% | $22.24B | 100.0% | $4.45B | 20.0% |
| 2018 | $21.71B | +0.5% | $21.71B | 100.0% | $3.98B | 18.3% |
| 2017 | $21.60B | -4.0% | $21.60B | 100.0% | $4.02B | 18.6% |
| 2016 | $22.49B | +8.1% | $22.49B | 100.0% | $4.07B | 18.1% |
Full AFL Stock Analysis
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Start ComparisonAFL — Frequently Asked Questions
Quick answers to the most common questions about buying AFL stock.
Is AFL's revenue growth accelerating or slowing?
AFL revenue declined -10.9% year-over-year, contrasting with the 5-year CAGR of -4.8%. TTM revenue fell to $17.4B. This reverses the prior growth trend.
What is AFL's long-term revenue growth rate?
Aflac Incorporated's 5-year revenue CAGR of -4.8% reflects the variable expansion pattern. Current YoY growth of -10.9% is below this long-term average.
How is AFL's revenue distributed by segment?
AFL reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.