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Aflac Incorporated

AFL ·Financial, Insurance - Health, United States
Analysis › KPI Dashboard

As of Fiscal Year 2025 (ended December 31, 2025)

Key KPIs at a Glance

Metric Value
Total Revenue (FY2025) $17.16 billion, down 9.3% year-over-year (from $18.93 billion in FY2024)
Net Earnings (FY2025) $3.65 billion, down 33.0% year-over-year (from $5.44 billion in FY2024), largely due to net investment losses vs. prior-year gains
Diluted EPS (FY2025) $6.82 per diluted share, down from $9.63 in FY2024
Book Value Per Share (as of 12/31/2025) $56.85, up 19.8% year-over-year (from $47.45 at 12/31/2024)
Adjusted Book Value Per Share, ex. AOCI (as of 12/31/2025) $54.06, up 2.3% year-over-year (from $52.87)
Aflac Japan New Annualized Premium Sales (FY2025) ¥74.4 billion (about $498 million), up 16.0% year-over-year
Aflac U.S. New Annualized Premium Sales (FY2025) $1.6 billion, up 3.0% year-over-year
Shares Outstanding (as of 12/31/2025) 518.69 million shares
Worldwide Employees (as of 12/31/2025) 12,716 total -- 6,804 Aflac Japan, 5,117 Aflac U.S., 795 Corporate and Other
First Quarter 2026 Dividend Increased 5.2% year-over-year, as announced with FY2025 results

FY2025 Total Revenue by Segment

Total Revenue: $17.54B

Segment total revenues sum to $17.537B (Aflac Japan, Aflac U.S., Corporate and Other; FY2025 10-K Note 2), which is $373 million higher than Aflac's consolidated GAAP total revenues of $17.164B for FY2025 -- the gap mainly reflects differing treatment of net investment gains/losses between segment and consolidated reporting.

FY2025 Pretax Adjusted Earnings by Segment

Total Pretax Adjusted Earnings: $4.96B

All three segments were profitable in FY2025 (Corporate and Other swung to a $101M profit from a $425M loss in FY2023); slices sum exactly to the $4.962B total pretax adjusted earnings for operating segments disclosed in Aflac's FY2025 10-K, Note 2.

Total Revenue Growth

Aflac Incorporated consolidated GAAP total revenues, FY2021-FY2025 (per 10-K filings); the multi-year decline mainly reflects lower net earned premiums in Aflac Japan (block of older policies running off, plus yen translation effects) and year-to-year swings in net investment gains/losses, not a decline in the core U.S. business.

Sources: Company-disclosed figures (no third-party estimates used): Consolidated total revenues, segment total revenues, and segment pretax adjusted earnings are from Aflac Incorporated's FY2025 Form 10-K (filed 2/25/2026 with the SEC), Note 2 'Business Segment Information' (SEC EDGAR accession 0001628280-26-011402, report pages R48/R49). FY2025 vs FY2024 headline figures (total revenues, net earnings, diluted EPS, book value per share, new annualized premium sales) are from Aflac's Q4/full-year 2025 earnings release, Exhibit 99.1 to Form 8-K filed 2/4/2026 (sec.gov/Archives/edgar/data/4977/000162828026005458/aflex991-q42025.htm). Employee counts (worldwide and by segment) are from the FY2025 10-K 'Human Capital' section (as of 12/31/2025). Prior-year revenue history (FY2021-FY2023) is from Aflac's FY2022 Form 10-K, Note 2 segment table (SEC EDGAR accession 0000004977-23-000055, report page R50). IMPORTANT CAVEAT: Segment total revenues (Aflac Japan $9,357M + Aflac U.S. $6,903M + Corporate and Other $1,277M = $17,537M for FY2025) are reported on a different basis than, and do not tie exactly to, consolidated GAAP total revenues of $17,164M shown in Aflac's income statement -- a $373M gap, disclosed in the same 10-K note, that mainly reflects how net investment gains/losses are allocated between segments vs. the consolidated statement; this is flagged in the revenue pie's subtitle. Net earnings fell from $5.44B (FY2024) to $3.65B (FY2025) largely because of a swing from $1,271M of net investment gains in FY2024 to $572M of net investment losses in FY2025 (per the same segment footnote), not from core underlying business deterioration. Market share: Aflac's FY2025 10-K states qualitatively that Aflac Japan 'remains the number one provider of cancer insurance in Japan' and is 'the largest insurer in Japan in terms of cancer and medical (third sector insurance) policies in force,' but neither Aflac nor a specifically-attributed, credible third-party source was found disclosing a numeric market-share percentage for Aflac Japan or Aflac U.S.; per task instructions, no market-share figure is included here rather than guessing one.