Aflac (AFL) Operating Expenses (2009 - 2026)
Aflac (AFL) posted Operating Expenses of $3.12 billion for Q2 2026, down 6.5% from $3.34 billion a year earlier and unchanged from the prior quarter.
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Analysis
Aflac (AFL) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Aflac was $12.28 billion, down 3.4% year-over-year; for FY2025, it came in at $12.63 billion, up 1.0% from FY2024.
- Annual Operating Expenses shows a five-year compound annual growth rate of -6.8% (FY2020 to FY2025).
- In prior years, Aflac's Operating Expenses was $12.51 billion in FY2024 (-6.9%), $13.44 billion in FY2023 (-5.8%), $14.27 billion in FY2022 (-12.7%) and $16.35 billion in FY2021 (-9.1%).
- Quarterly Operating Expenses has run from a low of $2.75 billion in Q3 2025 to a high of $4.12 billion in Q3 2021 over five years.
- On a year-over-year basis, Operating Expenses increased in two of the last eight quarters, with an average decline of 2.8%.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q2 2025, with growth of 7.0%; the weakest was Q4 2021, with a decline of 19.8%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $3.12 billion (Q1 2026), $3.29 billion (Q4 2025) and $2.75 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,082.55 Bn | -334.93 Bn | 55.86 Bn | 86.07 Bn |
| 2 | Chubb | 128.03 Bn | 80.09 Bn | 9.13 Bn | 12.19 Bn |
| 3 | Progressive | 122.38 Bn | 98.22 Bn | 9.04 Bn | 19.40 Bn |
| 4 | Marsh & Mclennan Companies | 81.46 Bn | 73.20 Bn | - | 5.51 Bn |
| 5 | Travelers Companies | 75.77 Bn | 52.02 Bn | 6.23 Bn | 9.39 Bn |
| 6 | Manulife Financial | 73.91 Bn | 75.11 Bn | - | -902.21 Mn |
| 7 | Metlife | 60.71 Bn | -45.77 Bn | 7.82 Bn | 18.12 Bn |
| 8 | Aon | 58.53 Bn | 51.77 Bn | - | 3.33 Bn |
| 9 | Arthur J. Gallagher | 58.38 Bn | 52.82 Bn | - | 3.59 Bn |
| 10 | Aflac | 57.07 Bn | 32.28 Bn | 2.27 Bn | 3.12 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.12 Bn |
| Mar 31, 2026 | 3.12 Bn |
| Dec 31, 2025 | 3.29 Bn |
| Sep 30, 2025 | 2.75 Bn |
| Jun 30, 2025 | 3.34 Bn |
| Mar 31, 2025 | 3.25 Bn |
| Dec 31, 2024 | 3.27 Bn |
| Sep 30, 2024 | 2.86 Bn |
| Jun 30, 2024 | 3.12 Bn |
| Mar 31, 2024 | 3.27 Bn |
| Dec 31, 2023 | 3.49 Bn |
| Sep 30, 2023 | 3.15 Bn |
| Jun 30, 2023 | 3.35 Bn |
| Mar 31, 2023 | 3.46 Bn |
| Dec 31, 2022 | 3.41 Bn |
| Sep 30, 2022 | 3.38 Bn |
| Jun 30, 2022 | 3.61 Bn |
| Mar 31, 2022 | 3.88 Bn |
| Dec 31, 2021 | 3.77 Bn |
| Sep 30, 2021 | 4.12 Bn |
API Access
Aflac Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=AFL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "AFL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=AFL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();