Question 1

What is Aflac's P/FCF ratio?

Accepted Answer

Aflac (AFL) P/FCF ratio is 20.7× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Aflac?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Aflac specifically, the relevant sector benchmark is the current sector median of 11.1×.

Question 5

Is Aflac's P/FCF ratio high or low?

Accepted Answer

Aflac's P/FCF ratio of 20.7× is above its own 5-year average of 14.5× and above the sector median of 11.1×. That places the current reading at the 76th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Aflac's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Aflac (AFL) P/FCF ratio has ranged from a low of 1.5× in 2012 to a high of 24.3× in 2026. The 5-year average is 14.5× and the 5-year median is 13.2×.

Question 7

What was Aflac's P/FCF ratio in 2025?

Accepted Answer

Aflac (AFL) P/FCF ratio at the end of 2025 was 22.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Aflac's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$58.45B	$2.56B	22.9×	+1.6×	Dec 31, 2025
2024	$57.71B	$2.71B	21.3×	+7.4×	Dec 31, 2024
2023	$48.00B	$3.44B	14.0×	+2.5×	Dec 31, 2023
2022	$44.59B	$3.88B	11.5×	+3.9×	Dec 31, 2022
2021	$38.48B	$5.05B	7.6×	+2.5×	Dec 31, 2021
2020	$30.64B	$5.96B	5.1×	-2.0×	Dec 31, 2020
2019	$38.79B	$5.46B	7.1×	+1.4×	Dec 31, 2019
2018	$34.23B	$6.01B	5.7×	+0.1×	Dec 31, 2018
2017	$34.42B	$6.13B	5.6×	+1.0×	Dec 31, 2017
2016	$27.92B	$5.99B	4.7×	+1.0×	Dec 31, 2016
2015	$25.08B	$6.78B	3.7×	-0.5×	Dec 31, 2015
2014	$27.27B	$6.55B	4.2×	+1.2×	Dec 31, 2014
2013	$30.87B	$10.55B	2.9×	+1.3×	Dec 31, 2013
2012	$24.83B	$14.95B	1.7×	-0.2×	Dec 31, 2012
2011	$20.15B	$10.84B	1.9×	-1.9×	Dec 31, 2011
2010	$26.41B	$6.99B	3.8×	+0.3×	Dec 31, 2010
2009	$21.65B	$6.16B	3.5×	-0.8×	Dec 31, 2009
2008	$21.37B	$4.92B	4.3×	-2.2×	Dec 31, 2008
2007	$29.95B	$4.61B	6.5×	+1.3×	Dec 31, 2007
2006	$22.57B	$4.37B	5.2×	-0.1×	Dec 31, 2006
2005	$23.12B	$4.42B	5.2×	+0.7×	Dec 31, 2005
2004	$20.03B	$4.46B	4.5×	-1.0×	Dec 31, 2004
2003	$18.45B	$3.37B	5.5×	+0.3×	Dec 31, 2003
2002	$15.50B	$3.01B	5.1×	+0.6×	Dec 31, 2002
2001	$12.76B	$2.80B	4.6×	—	Dec 31, 2001


Assurant (AIZ)	7.5×
Progressive (PGR)	7.1×
Cincinnati Financial (CINF)	7.1×
Alerus Financial (ALRS)	7.0×
Interactive Brokers (IBKR)	6.9×
Invesco (IVZ)	6.9×
American Financial Group (AFG)	6.8×
The Hartford (HIG)	6.5×
Commerce Bancshares (CBSH)	6.4×
Bank of America (BAC)	6.3×
Arch Capital Group (ACGL)	5.9×
JPMorgan Chase (JPM)	5.8×
Travelers Companies (TRV)	5.5×
Principal Financial Group (PFG)	5.5×
Everest Re Group (RE)	5.0×
Allstate (ALL)	4.7×
Everest Re Group (EG)	4.6×
Capital One Financial (COF)	3.9×
Prudential Financial (PRU)	3.5×
Mercury General (MCY)	3.4×
RenaissanceRe Holdings (RNR)	3.0×
MetLife (MET)	2.8×
Synchrony Financial (SYF)	2.4×
Atlantic Union Bankshares (AUB)	2.2×
StoneX Group (SNEX)	0.8×

P/FCF Ratio for Aflac (AFL)

P/FCF Ratio daily chart for Aflac (AFL)

Historical P/FCF Ratio for Aflac (AFL) from 2001 to 2025

About P/FCF Ratio at Aflac (AFL)

Aflac P/FCF Ratio by Year

Aflac P/FCF Ratio 2025: 22.9×

Aflac P/FCF Ratio 2024: 21.3×

Aflac P/FCF Ratio 2023: 14.0×

Aflac P/FCF Ratio 2022: 11.5×

Aflac P/FCF Ratio 2021: 7.6×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Aflac (AFL) Key Financials

P/FCF Ratio daily chart for Aflac (AFL)

Historical P/FCF Ratio for Aflac (AFL) from 2001 to 2025

About P/FCF Ratio at Aflac (AFL)

Aflac P/FCF Ratio by Year

Aflac P/FCF Ratio 2025: 22.9×

Aflac P/FCF Ratio 2024: 21.3×

Aflac P/FCF Ratio 2023: 14.0×

Aflac P/FCF Ratio 2022: 11.5×

Aflac P/FCF Ratio 2021: 7.6×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Aflac's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Aflac?

+Is Aflac's P/FCF ratio high or low?

+What is Aflac's historical P/FCF ratio range?

+What was Aflac's P/FCF ratio in 2025?

+Why does Aflac's P/FCF ratio change over time?

Aflac (AFL) Key Financials