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Aflac Income Statement

Revenue, expenses, and profitability over time

Aflac generated $18.1B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $4.6B with a 25.6% net margin. Diluted EPS is $8.78, which grew 0.4% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$18.1BNet Income (TTM)$4.6BEps Diluted (TTM)$8.78
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$59.3B
P/E Ratio12.79
ROE16.47%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$3.42$0.05$1.12$3.09$2.62$1.99
Diluted earnings per share$3.40$0.05$1.11$3.08$2.61$1.98
Weighted-average shares, basic562.5M544.7M536.7M530.1M532.9M513.1M
Weighted-average shares, diluted565M546.9M538.4M532M534.9M514.8M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (loss) on disposal of assets$1B-$963M-$421M$275M—$49M
Interest expense$50M$50M$52M$57M$61M$60M
Other income (expense), net$24M$25M$30M$26M$31M$31M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$2.1B$145M$822M$2B$1.6B$1.2B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$233M$116M$223M$355M$193M$206M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$1.9B$29M$599M$1.6B$1.4B$1B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net premiums earned$3.3B$3.4B$3.5B$3.4B$3.3B$3.3B
Net investment income$1B$955M$1.1B$1.1B$973M$956M
Total revenue$5.4B$3.4B$4.2B$4.7B$4.9B$4.3B

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Policyholder Benefits And Claims Incurred Net$1.9B$1.9B$2B$1.4B$1.9B$1.8B
Selling, general and administrative$835M$802M$804M$781M$866M$771M
Total operating expenses$1.3B$1.3B$1.3B$1.3B$1.4B$1.3B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Benefits, Losses and Expenses$3.3B$3.3B$3.3B$2.7B$3.3B$3.1B
Cash dividend per common share (in dollars per share)$0.50$0.58$0.58$0.58$0.58$0.61
Deferred taxes-$89M-$57M-$57M-$57M-$57M—
Deferred Policy Acquisition Costs, Amortization Expense$213M$216M$221M$218M$219M$221M
Insurance commissions$247M$240M$251M$254M$246M$237M
Liability for Future Policy Benefit, Remeasurement Gain (Loss)$43M$41M$37M$580M$36M$82M
Net Investment Income$1B$955M$1.1B$1.1B$973M$956M
Membership and other income$24M$25M$30M$26M$31M$31M
Benefits and claims, excluding reserve remeasurement$2B$2B$2B$2B$1.9B$1.9B