How does Aflac (AFL) make money?

Aflac (AFL) generates revenue primarily from Aflac Japan Member, which accounted for 53% of total revenue in TTM through Q1 2026. The company reported $18.2B in revenue and converted 25.4% of it into net profit, equivalent to roughly $4.64B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Aflac (AFL)?

Aflac (AFL) reported a gross profit margin of 47.8% in TTM through Q1 2026, equivalent to $8.7B in gross profit on $18.2B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Aflac (AFL)?

Aflac (AFL) reported an operating profit margin of 31% in TTM through Q1 2026, equivalent to $5.64B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Aflac (AFL)?

Aflac (AFL) reported a net profit margin of 25.4% in TTM through Q1 2026, equivalent to $4.64B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Aflac (AFL) profitable?

Yes. Aflac (AFL) reported $4.64B in net income for TTM through Q1 2026, with a net profit margin of 25.4%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much free cash flow does Aflac (AFL) generate?

Aflac (AFL) generated $2.93B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 16.1%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Aflac (AFL)?

Aflac (AFL) had an effective tax rate of 17.4% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Aflac (AFL)?

Aflac (AFL) reports revenue across 3 reportable product segments, led by Aflac Japan at 53% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Aflac (AFL) generate most of its revenue?

Aflac Japan Member is the largest geographic market for Aflac (AFL), accounting for 57% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Aflac Makes Money: 2026 Visual Revenue Map

Aflac (AFL) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 6, 2026).

Aflac (AFL) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Aflac (AFL), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Aflac Japan	$9.66B	53%
Aflac US	$7.26B	39.9%
Other	$1.3B	7.1%
Total	$18.2B	100%

Aflac Japan$9.66B
Aflac US$7.26B
Other$1.3B
Total$18.2B

Aflac (AFL) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Aflac (AFL), TTM through Q1 2026
Region	Revenue (USD)	% of total
Aflac Japan Member	$11.5B	57%
Aflac US Member	$8.68B	43%
Total	$20.2B	100%

Aflac Japan Member
Aflac US Member
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Aflac (AFL) reports revenue across 3 reportable product segments; the largest segment was Aflac Japan at 53%, followed by Aflac US (39.9%) and Other (7.1%). Geographically, Aflac Japan Member accounted for 57% of revenue, followed by Aflac US Member (43%).

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