Aflac vs Lincoln Financial
Lincoln Financial reported revenue of $18.2 billion in fiscal 2025, about the same as Aflac's $17.2 billion in fiscal 2025. Aflac's revenue fell 9.3% in its latest year, and Lincoln Financial's fell 1.2%.
Side by side
| Aflac | Lincoln Financial | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $17.2B | $18.2B |
| Revenue growth | −9.3% | −1.2% |
| Revenue growth a year, last 5 years | −5.0% | 0.9% |
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 21.2% | 6.5% |
| Free cash flow | — | — |
| Free cash flow margin | — | — |
| Return on capital | 13.0% | — |
| Net debt to EBITDA | 0.4x | — |
| Dividends and buybacks | $4.7B | $325M |
| Change in diluted share count | −5.3% | 7.5% |
| Last close | $124.06 | $40.05 |
| P/E at the last close | 18.2× | 2.4× |
| Insider trades, last 12 months | sold $263.6 million | bought $94,123, sold $3.7 million |
| Piotroski F-score | — | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
AflacLincoln Financial
Operating margin
Percent of revenue
AflacLincoln Financial
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AflacLincoln Financial
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Aflac and Lincoln Financial pages.