| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 59 | 12.4x | 17.8x | Around median | |
Growth | 38 | 13.4% | 7.1% | Bottom tier | |
Quality | 88 | — | — | Top tier | |
Safety | 32 | — | — | Bottom tier | |
Capital Return | 72 | 2.04% | 2.12% | Top tier | |
Momentum | 67 | 14.7% | 2.9% | Top tier | |
Sentiment | 43 | 9 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Aflac Incorporated operates in insurance through two main markets, Japan and the United States, and generates income from insurance policy premiums and returns on its investment portfolio. In Japan, its core portfolio focuses on third-sector cancer and medical insurance, while the first-sector yen-denominated savings product Tsumitasu is used to attract younger customers and support concurrent sales of cancer and medical insurance policies. In the United States, operations include group voluntary benefits, group life, absence, and disability insurance, and network-based dental and vision products.
In the second quarter of fiscal year 2026, net diluted earnings per share were $1.63 and adjusted diluted earnings per share were $1.75, while adjusted earnings reached $1.80 when excluding the impact of foreign currency, an annual increase of 1.1%. The Japan segment recorded a pretax margin of 34.3%, up 230 basis points, with a benefit ratio of 64% and an expense ratio of 20.2%. The United States segment recorded a pretax margin of 20.9%, down 160 basis points, with a benefit ratio of 49.5% and an expense ratio of 36.1%.
The provided data does not include consolidated revenue or net income figures for the second quarter of fiscal year 2026, so the EDGAR filings for the first quarter of fiscal year 2026 provide the latest complete anchor for these two items: revenue of $4.3 billion, net income of $1 billion, and earnings per share of $1.98. On a twelve-month basis ending in fiscal year 2026, revenue reached $18.1 billion, net income was $4.6 billion, and earnings per share were approximately $9.01, compared with revenue of $17.2 billion and net income of $3.6 billion in fiscal year 2025.
The average analyst price target is $118.86, with a “Neutral” consensus and a wide range between $99 and $138; the average is below the 52-week range high of $130.22, while the highest target exceeds that high. No price-to-earnings multiple is available in the provided data, and the Wolfe Research downgrade in August 2026 highlights that valuation is affected by concerns about premiums and the benefit ratio in Japan despite strong capital and share repurchases.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Net diluted earnings per share were $1.63 and adjusted diluted earnings per share were $1.75 in the second quarter of fiscal year 2026. Excluding the impact of foreign currency, adjusted earnings were $1.80 per share, an annual increase of 1.1%. The Japan segment supported results with a pretax margin of 34.3%, while variable investment income falling $72 million short of expectations offset part of this support.
Aflac Japan sales declined 5.6% to ¥19.6 billion in the second quarter of fiscal year 2026, but increased 7% during the first half. Management expects fiscal year 2026 sales to exceed the fiscal year 2025 level, with the ¥80 billion target remaining within reach. In contrast, earned premiums declined 3.7% in yen, and the benefit ratio reached 64% in the second quarter of fiscal year 2026.
Tsumitasu represents approximately 20% of Aflac Japan sales and targets younger and middle-aged customers interested in yen-denominated savings. The rate at which it was sold concurrently with cancer and medical insurance exceeded the original plan of 25%. Anshin Palette, launched in December 2025, maintained momentum that enabled sales in the first half of fiscal year 2026 to exceed the corresponding period of fiscal year 2025.
Automated analysis for informational purposes only — not investment advice.
The company returned $1.3 billion to shareholders in the second quarter of fiscal year 2026 and $2.6 billion during the first half. The quarter included $983 million in share repurchases and $309 million in dividends, with management committed to extending its 43-year record of dividend increases during fiscal year 2026. Unrestricted liquidity reached $3.3 billion, or $2.3 billion above the internal minimum of $1 billion.
Data for the three months ended August 24, 2026 showed net insider selling of $66.4 million across 68 sales with no purchases. Insider sales may be prearranged, so they remain a weaker signal than changes in premiums, margins, and operating guidance. Japan Post Group also sold $1.5 million in shares on August 21, 2026, but it continued to own more than 50 million shares, representing a 10% stake.
