# Aflac Inc. (AFL) — Stock CV

Aflac Inc. is a $57.4B financial services company. Revenue grew 13.6% over the last year, and it keeps 27¢ of every dollar of sales as profit. It trades at 11.8× earnings — in the most expensive third of its own history.

> Aflac Inc offers supplemental health insurance and life insurance in the United States and Japan. In addition to its cancer policies, the company has broadened its product offerings to include accident, dental and vision, disability, and long-term-care insurance.

## Identity

- **Ticker**: AFL
- **Sector**: Financial Services
- **Industry**: Accident & Health Insurance
- **Headquarters**: COLUMBUS, GA
- **Employees**: 12 716
- **Website**: https://www.aflac.com
- **Market cap**: $57.4B
- **Last price**: $114.54
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $18.1B
- **Net income**: $4.86B
- **Free cash flow**: $2.65B
- **P/E**: 11.8
- **Revenue growth (YoY)**: 13.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 62 |
| Growth | 6 |
| Profitability | 90 |
| Health | 28 |
| Quality | 42 |
| Moat | 50 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +13.6% YoY
- [x] Profitable — $4.86B TTM
- [x] Profit growing — +1.2% YoY
- [x] Generates cash — $2.65B TTM
- [ ] Debt under control — current ratio 0.11
- [x] Established company — $57.4B market cap
- [x] Not printing shares — -25.3% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 0.8 — distress
- [x] Pays a dividend — yield 2.08%
- [x] Valuation not extreme — P/E 11.8

## Experience (career milestones)

- **FY2024** — Best year on record: $5.44B net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $22.6B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2009** — Aflac acquired Continental American Insurance Company for $100 million, enabling them to sell supplemental…
- **1997** — It sold the broadcasting division (including flagship station WTVM) to what became Raycom Media in 1997
- **1974** — The company had an initial public offering in 1974 and was listed on the New York Stock Exchange
- **1955** — It was founded in 1955 and is based in Columbus, Georgia

## Strengths

- Strongly profitable — 26.9% net margin
- Revenue growing 13.6% year over year
- Interest covered 21.6× by operating earnings
- High returns on invested capital (ROIC 15.7%)

## Watch-outs

- Altman Z-Score 0.82 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $22.1B | $4.33B | $5.05B |
| FY2022 | $19.5B | $4.20B | $3.88B |
| FY2023 | $18.7B | $4.66B | $3.19B |
| FY2024 | $18.9B | $5.44B | $2.71B |
| FY2025 | $17.2B | $3.65B | $2.56B |

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Source: https://stockcv.com/AFL — derived from company filings; may be delayed or incomplete. Information, not investment advice.