Aflac Incorporated
Explore Aflac Incorporated
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Aflac Incorporated
Explore Aflac Incorporated
Core profile pages, annual revenue records, and related research hubs for this company.
Annual Revenue
FY2025 Revenue
$17.2B
▼ 1.4% vs FY2024 ($17.4B)
Source: Annual report / company filing
Aflac Incorporated reported $17.2B in revenue for fiscal year 2025. This represents a decline of 1.4% compared to the 2024 figure of $17.4B.
With $17.2B in total revenues and $4.5 billion in net income, Aflac generates a 25.9 percent net margin that reflects the fundamental economics of supplemental insurance: premiums collected annually, benefits paid as discrete events, with claims ratios that are predictable at scale. The $160 billion investment portfolio generating roughly $5.5 billion in annual net investment income adds a second major earnings stream that operates independently of claims activity. The $160 billion investment portfolio that Aflac manages alongside its insurance operations generated approximately $5.5 billion in net investment income in 2024 — a sum that exceeds the entire annual revenue of many publicly traded financial services companies. Revenue grew steadily from $16.2 billion in 2022 to $17.2B in FY2025, a 7.4 percent increase that reflects premium growth in both Japan and the United States alongside investment income expansion. The $4.5 billion net income on $17.2B in revenue represents a 25.9 percent net margin — among the highest in the insurance industry and reflective of Aflac's low expense ratio, which the worksite distribution model enables by concentrating sales activity where conversion rates are highest. The $55 billion market capitalization at roughly 3.2 times annual revenue prices Aflac as a high-quality, durable earnings machine rather than a growth story.
| Year | Revenue | Net Income | YoY Change |
|---|---|---|---|
| FY2025 | $17.2B | — | -1.4% |
| FY2024 | $17.4B | $4.5B | +3.6% |
| FY2023 | $16.8B | — | +3.7% |
| FY2022 | $16.2B | — | — |
Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.