AFL · Aflac Inc
$111.54
+0.36 (+0.32%)
At close · Oct 2
Return incl. dividend (before tax)
Market Cap
$56.96B
Shares
501.34M
Volume · Oct 2
1.87M
Avg daily vol (3M)
2.05M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$111.54
Open$110.78
Day$110.00–111.80
52W close$105.70–129.55
Avg vol 30d2.1M
Short int11.6M · 2.3% float · 5.6d
Short vol39%
Last earningsNov 4, 2026
DataJan 2020–Oct 2026
Filing10-Q · Aug 7
Up next
Next earnings call
Nov 4, 2026
Scheduled
· in 4 wks
filed Aug 7, 2026
call held Aug 7, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$18.07B
Trailing 12 months
Net income (TTM)
$4.86B
Trailing 12 months
Revenue growth YoY
-1.0%
Year over year
Operating margin
—
Trailing 12 months
P / E (TTM)
12.0
Trailing earnings · reciprocal yield 8.3%
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
$6.12B
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
-6.1%
Year over year · fewer shares
Price change (1Y)
+0.8%
Trailing year
Short interest
2.3%
Latest settlement · 5.6 days to cover
AI Brief
Q2 FY26 earnings call · Aug 7, 2026
Q2 FY26
TL;DR. Aflac reported Q2 adjusted EPS of $1.75 (down 1.7% YoY) but $1.80 ex-FX (up 1.1%), returned $1.3B to shareholders, and raised its Japan reinsurance limit to 30% of FSA reserves while lowering its 2026 U.S. net earned premium growth guidance to just below the 3–6% range and signaling Japan benefit ratio at the high end of 60–63%.
Bullish
- + Returned $1.3B to shareholders in Q2 via $983M repurchases and $309M dividends, extending the 43-year dividend increase record.
- + Raised Japan reinsurance limit to up to 30% of FSA reserves (from 10% of GAAP assets) to reduce risk and boost ROE.
- + Adjusted EPS ex-FX grew 1.1% YoY to $1.80 and adjusted ROE ex-FX was a solid 16.6%.
Bearish
- − Lowered 2026 U.S. net earned premium growth guidance to just below the 3–6% range (from low end of range).
- − Now expects full-year 2026 Japan benefit ratio at the high end of 60–63% guidance range due to lapse mix.
- − U.S. benefit ratio rose 220 bps YoY to 49.5% from elevated group disability claims, pressuring U.S. pretax margin to 20.9% (-160 bps).
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Sell
Momentum
Weak
Sentiment
Neutral
Fundamentals
Weak
Quant / Vol
Very Low
Market backdrop
VIX 15.3 · calm
Equity put/call 0.58
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−3%
below
Price vs 50-day avg
−6%
below
RSI (14)
32
neutral
MACD trend
Negative
52-week position
24%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−6%
trailing
6-month return
−1%
trailing
YTD return
+1%
this year
Relative strength
−13%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $119 › 200d $115 — 50d above 200d
Institutional flow
Accumulating
11 of 1,712 funds reported for Sep 30 · net +460 sh shares
Insider flow
Distributing
Net -$1.6M over 90 days · 100% sells
Short interest
Rising
2.31% of float · ▲ +5.2% MoM · 5.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,712 holders — near 3-yr high, broad support
Squeeze score
49
elevated · 0–100
Fundamentals
Revenue growth
−9%
Y/Y
EPS growth
−29%
Y/Y
Valuation
P/E 12.3
in line
Balance sheet
$2.2B
net debt
Quant / Vol
risk profile
Volatility
17%
annualized · 1-yr
Max drawdown
−14%
past year
ATR
1.6%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Aug 6, 2026
U.S. net earned premium CAGR
· 2025-2027
3% – 6%
Net earned premium CAGR
· 2025-2027
3% – 6%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−3%
Neutral
Price vs 50-day avg
−6%
Bearish
RSI (14)
32
Neutral
MACD trend
Negative
Bearish
52-week position
24%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $119 › 200d $115 — 50d above 200d
Institutional flow
Accumulating
11 of 1,712 funds reported for Sep 30 · net +460 sh shares
Insider flow
Distributing
Net -$1.6M over 90 days · 100% sells
Short interest
Rising
2.31% of float · ▲ +5.2% MoM · 5.6 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
1,712 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $106
Now $112 · 24%
Range high $130
vs 200-day avg -3%
vs 50-day avg -6%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted earnings excluding current period foreign currency impact non-GAAP | $910M | Three Months Ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Adjusted earnings $883M
+$27M Current period foreign currency impact
= Adjusted earnings excluding current period foreign currency impact $910M
|
|||
| Adjusted return on equity - reported non-GAAP | 12.7% | the three months ended June 30, 2026 filing | — |
| Adjusted return on equity excluding foreign currency remeasurement non-GAAP | 16.6% | the three months ended June 30, 2026 filing | — |
| Average weekly producer equivalent (U.S. agents) | 5,100 | the second quarter of 2026 filing | — |
| Pretax adjusted earnings margin (Aflac Japan) non-GAAP | 34.3% | the three months ended June 30, 2026 filing | — |
| 12-Month Rolling Premium Persistency | 92.7% | 2026 YTD | — |
| Adjusted book value excluding foreign currency remeasurement per share non-GAAP | $41.22 | Q2 2026 | — |
| Adjusted book value per share non-GAAP | $55.01 | Q2 2026 | — |
| Adjusted Leverage Ratio non-GAAP | 21.8% | 2Q26 | — |
| Adjusted ROE non-GAAP | 16.6% | 2Q26 | — |
| Aflac Inc. unencumbered liquidity | $3.3B | 2Q26 | — |
| Annualized adjusted return on equity excluding foreign currency remeasurement non-GAAP | 16.6% | Q2 2026 | — |
| Annualized return on average shareholders' equity | 10.9% | Q2 2026 | — |
| Average Weekly Producer Equivalents | 4,982 | Q1 2026 | — |
| Benefit Ratio (Aflac Japan) | 64% | 2Q26 | — |
| Benefit Ratio (Aflac U.S.) | 49.5% | 2Q26 | — |
| Dividends | $309M | 2Q26 | — |
| Expense Ratio (Aflac Japan) | 20.2% | 2Q26 | — |
| Expense Ratio (Aflac U.S.) | 36.1% | 2Q26 | — |
| Pretax adjusted earnings non-GAAP | -$10M | 2Q26 | — |
| Pretax adjusted earnings - Aflac Japan (yen) non-GAAP | ¥118.2B | Q2 2026 | — |
| Pretax adjusted earnings - Aflac U.S. non-GAAP | $370M | Q2 2026 | — |
| Pretax Profit Margin (Aflac Japan) | 34.3% | 2Q26 | — |
| Pretax Profit Margin (Aflac U.S.) | 20.9% | 2Q26 | — |
| Productivity (Production/ Avg. Weekly Producers) | 63,778 | Q1 2026 | — |
| Regulatory ESR | 226% | 2Q26 | — |
| Regulatory ESR with USP | 240% | 2Q26 | — |
| Share Repurchase | $983M | 2Q26 | — |
| Total new annualized premium sales (Aflac Japan) | $123M | Q2 2026 | — |
| Total new annualized premium sales (Aflac Japan) - yen | ¥19.6B | Q2 2026 | — |
| Total Recruited Agents | 2,526 | Q1 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Insurance - Life — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
AFL
this stock
Aflac Inc
|
$56.96B | +1.2% | -9.3% | 12.3 | 2.3% |
|
CILJF
China Life Insurance Co Ltd
|
$107.41B | +4.3% | — | — | 0.0% |
|
MFC
Manulife Financial Corp
|
$72.67B | +18.3% | — | — | 0.5% |
|
MET
Metlife Inc
|
$62.09B | +19.6% | +8.6% | 18.7 | 1.9% |
|
GWLIF
Great-West Lifeco Inc.
|
$59.05B | +27.7% | — | — | 0.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| AFL | -1.9% | -5.8% | -0.5% | -0.2% | +1.2% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | -1.7% | -5.3% | -12.7% | -1.1% | -11.7% |
Capital returns
Buyback program
· as of Jun 30, 2026
Authorized
shares 100.00M
Spent (derived)
shares 3.20M
Remaining
shares 96.80M
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.