--- title: Aflac (AFL) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/afl ticker: AFL as_of: 2026-10-17 sector: Financial Services industry: Insurance - Life --- # Aflac (AFL) Aflac (AFL) closed at $119.97 on Oct 16, 2026, overvalued by 11% vs its model value of $107.83 (from the justified price to book). ## Key figures | Figure | Value | | --- | ---: | | Last close | $119.97 (Oct 16, 2026) | | Model value (from the justified price to book) | $107.83 | | Price vs model | overvalued by 11% vs model | | Range of that model | $94.35 – $125.80 | | Market value | $60.2B | | P/E (fiscal 2025) | 17.6 | | Net margin (fiscal 2025) | 20.9% | | Free cash flow (fiscal 2025) | — | | Dividend yield (trailing twelve months) | 2.01% | | Beta | 0.56 | | Cost of capital (WACC) | 7.52% | | Business classification | Mature & Stable (Revenue declining (~-4% recent), High profitability (21% net margin), Pays dividends, Highly cyclical earnings) | ## On the stock lists | List | Place | Figure | Page | | --- | ---: | ---: | --- | | Dividend growth streaks | #18 | 41+ years | https://sweetvaluelab.com/lists/dividend-growth-streaks | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 2.01% | | Dividends per share, last 12 months | $2.41 | | Dividends / earnings (fiscal 2025) | 32.9% | | Raised | 41+ years in a row | | Growth over 5 years | 13.7% a year | | Latest payment | $0.61, ex-date Aug 19, 2026, paid Sep 1, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Aug 17, 2021 | $1.27 | | To Aug 23, 2022 | $1.53 | | To Aug 22, 2023 | $1.66 | | To Aug 21, 2024 | $1.92 | | To Aug 20, 2025 | $2.24 | | Trailing twelve months (to Aug 19, 2026) | $2.41 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | P/B · justified | primary | $107.83 | $94.35 | $125.80 | | P/E · peers | cross check | $76.25 | $70.17 | $93.04 | | P/E · own history | cross check | $76.57 | $70.52 | $86.70 | | PEG | sanity check | $56.18 | $56.18 | $56.18 | | Dividend discount | cross check | $68.27 | $44.45 | $125.40 | ## Insider activity (SEC Form 4) Past 90 days: 0 open-market buys ($0) and 39 open-market sales ($35.6M); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Oct 14, 2026 | Japan Post Holdings Co., Ltd. | 10% Owner | Open-market sell (10b5-1 plan) | 19,046 | $2.2M | | Oct 14, 2026 | Japan Post Holdings Co., Ltd. | 10% Owner | Open-market sell (10b5-1 plan) | 29,649 | $3.5M | | Oct 14, 2026 | Japan Post Holdings Co., Ltd. | 10% Owner | Open-market sell (10b5-1 plan) | 6,305 | $734,847.8 | | Oct 13, 2026 | Japan Post Holdings Co., Ltd. | 10% Owner | Open-market sell (10b5-1 plan) | 340 | $39,790.2 | | Oct 13, 2026 | Japan Post Holdings Co., Ltd. | 10% Owner | Open-market sell (10b5-1 plan) | 41,660 | $4.8M | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Aug 7, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/4977/000162828026054618/afl-20260630.htm | | Aug 6, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/4977/000162828026054333/afl-20260806.htm | | Jun 30, 2026 | 8-K | 8.01 Other Events | https://www.sec.gov/Archives/edgar/data/4977/000162828026046124/afl-20260630.htm | | Jun 24, 2026 | S-3ASR | Shelf registration (automatic) | https://www.sec.gov/Archives/edgar/data/4977/000110465926077012/tm2618482-1_s3asr.htm | | May 28, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/4977/000110465926067551/tm2614650d1_8k.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | John Rogers | 2026-06-30 | 236,216 | $27.7M | | David Katz | 2026-09-30 | 6,274 | $701,353 | | Bridgewater | 2026-06-30 | 2,476 | $290,311 | 3 tracked managers in all. ## About Aflac Incorporated, operating through its various subsidiary companies, focuses on delivering supplementary health and life insurance policies. The firm's business activities are structured into two primary divisions: Aflac Japan and Aflac U.S. In Japan, the company offers a diverse range of insurance products, including coverage for cancer, medical expenses, income support for nursing care, and the distinct GIFT plan. This segment also provides traditional whole and term life insurance, along with savings-oriented plans like WAYS and child endowment products. Meanwhile, the Aflac U.S. division caters to the American market, furnishing policies that address cancer, accidents, short-term disability, critical illness, and hospital stays. Additionally, it provides dental, vision, long-term care, disability, and both term and whole life insurance options. Aflac distributes its comprehensive… --- Source: https://sweetvaluelab.com/stocks/afl (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.