How does Aflac (AFL) make money?

Aflac (AFL) primarily makes money through Aflac Japan Member, which accounts for 53.4% of total revenue. For TTM through Q4 2025, Aflac generated $17.36B in total revenue with a net profit margin of 21%.

What is Aflac (AFL) gross profit margin?

Aflac (AFL) reported a gross profit margin of 38.7% for TTM through Q4 2025, equivalent to $6.71B in gross profit. This means Aflac retains 38.7% of each revenue unit after direct costs of production.

What is Aflac (AFL) operating profit margin?

Aflac (AFL) reported an operating profit margin of 26.3% for TTM through Q4 2025, equivalent to $4.56B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is Aflac (AFL) net profit margin?

Aflac (AFL) reported a net profit margin of 21% for TTM through Q4 2025, equivalent to $3.65B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

What is Aflac (AFL) free cash flow?

Aflac (AFL) generated $2.56B in free cash flow for TTM through Q4 2025 (14.7% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is Aflac (AFL) effective tax rate?

Aflac (AFL) had an effective tax rate of 19.6% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

How Aflac (AFL) Makes Money: A Visual Guide

Aflac (AFL) generated $17.36B in revenue, earning $3.65B in net profit (21% margin). Its largest revenue source is Aflac Japan Member (53.4% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

Aflac (AFL) Income Statement Flow — TTM through Q4 2025

Calculated from the four most recent reported quarters, ending December 31, 2025 (reported February 25, 2026).

Frequently asked questions

How does Aflac (AFL) make money?: Aflac (AFL) primarily makes money through Aflac Japan Member, which accounts for 53.4% of total revenue. For TTM through Q4 2025, Aflac generated $17.36B in total revenue with a net profit margin of 21%.
What is Aflac (AFL) gross profit margin?: Aflac (AFL) reported a gross profit margin of 38.7% for TTM through Q4 2025, equivalent to $6.71B in gross profit. This means Aflac retains 38.7% of each revenue unit after direct costs of production.
What is Aflac (AFL) operating profit margin?: Aflac (AFL) reported an operating profit margin of 26.3% for TTM through Q4 2025, equivalent to $4.56B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Aflac (AFL) net profit margin?: Aflac (AFL) reported a net profit margin of 21% for TTM through Q4 2025, equivalent to $3.65B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
What is Aflac (AFL) free cash flow?: Aflac (AFL) generated $2.56B in free cash flow for TTM through Q4 2025 (14.7% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is Aflac (AFL) effective tax rate?: Aflac (AFL) had an effective tax rate of 19.6% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q4 2025.