AFL Aflac margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 60

Gross margin

57.7%

Operating margin

27.4%

EBITDA margin

27.4%

Net margin

21.2%

Using the latest TTM figures, Aflac shows a gross margin of 57.7%, an operating margin of 27.4%, an EBITDA margin of 27.4%, and a net margin of 21.2%. Each available margin weakened from the same period last year. Operating margin recorded the strongest contraction, falling by 2.6 percentage points.

AFL margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Aflac recorded average margins of 57.89% gross, 29.75% operating, 29.75% EBITDA, and 23.9% net. Right now, all four current margins are below their three-year averages.

AFL margin expansion

Year-over-year margin changes in percentage points

Operating and EBITDA margins led the decline, falling by 2.6 percentage points, while the other available margins also decreased.

Gross margin expansion

-1pp

Operating margin expansion

-2.6pp

EBITDA margin expansion

-2.6pp

Net margin expansion

-2.4pp

AFL Gross margin

Over the last 3 years, the average gross margin for Aflac was 57.89%. The latest gross margin for Aflac is 57.7%, 0.2 percentage points below its three-year average. Aflac's gross margin ranged from a low of 53% in Jun 2025 to a high of 61.1% in Jun 2026.

AFL Operating margin

Throughout the last 3 years, Aflac had an average operating margin of 29.75%. Compared with its three-year average, Aflac's current operating margin is 27.4% and is 2.4 percentage points below its three-year average. Looking back over the last 3 years, Aflac's operating margin reached 34.9% at its highest point in Dec 2024 and 21.3% at its lowest in Jun 2025.

AFL EBITDA margin

The average EBITDA margin for Aflac was 29.75% during the last 3 years. Right now, the current EBITDA margin for Aflac is 27.4%, 2.4 percentage points below its three-year average. The EBITDA margin for Aflac moved between 21.3% in Jun 2025 and 34.9% in Dec 2024.

AFL Net margin

The average net margin for Aflac was 23.9% over the last 3 years. The latest net margin for Aflac is 21.2%, 2.7 percentage points below its three-year average. The net margin for Aflac moved between 15.3% in Jun 2025 and 28.8% in Dec 2024.

AFL margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 57.7%, AFL stands above the industry and its peers average but below the Financial Services sector average. Looking at its Financial Services sector average of 83.5%, Aflac's gross margin is 31% lower.

AFL margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Aflac's gross margin?

For the period ending Sep 30, 2026, AFL recorded a gross margin of 57.7%.

What is Aflac's operating margin?

The current operating margin for AFL is 27.4% as of Sep 30, 2026.

What is Aflac's EBITDA margin?

The current EBITDA margin for AFL is 27.4% as of Sep 30, 2026.

What is Aflac's net margin?

For the period ending Sep 30, 2026, AFL recorded a net margin of 21.2%.

What are the average margins of AFL?

Aflac's gross, operating, EBITDA, and net margins averaged 57.9% gross, 29.8% operating, 29.8% EBITDA, and 23.9% net over the last 3 years.

What are the highest historical margins of AFL?

In the last 5 years, the highest margins reported by AFL were 61.1% gross in Jun 2026, 34.9% operating in Dec 2024, 34.9% EBITDA in Dec 2024, and 28.8% net in Dec 2024.

What are the lowest historical margins of AFL?

Within the 5-year period, AFL recorded its lowest margins at 51% gross in Mar 2022, 21.3% operating in Jun 2025, 21.3% EBITDA in Jun 2025, and 15.3% net in Jun 2025.