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Aflac (NYSE:AFL) Cyclically Adjusted Revenue per Share

: $34.13 (As of Sep. 2023)
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E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

Aflac's adjusted revenue per share for the three months ended in Sep. 2023 was $8.388. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is $34.13 for the trailing ten years ended in Sep. 2023.

During the past 12 months, Aflac's average Cyclically Adjusted Revenue Growth Rate was 3.00% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 5.60% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 5.30% per year. During the past 10 years, the average Cyclically Adjusted Revenue Growth Rate was 5.30% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Aflac was 17.90% per year. The lowest was 4.30% per year. And the median was 9.80% per year.

As of today (2024-02-23), Aflac's current stock price is $80.32. Aflac's Cyclically Adjusted Revenue per Share for the quarter that ended in Sep. 2023 was $34.13. Aflac's Cyclically Adjusted PS Ratio of today is 2.35.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Aflac was 2.50. The lowest was 0.96. And the median was 1.63.


Aflac Cyclically Adjusted Revenue per Share Historical Data

The historical data trend for Aflac's Cyclically Adjusted Revenue per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Aflac Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Revenue per Share
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 27.96 28.86 31.31 32.95 -

Aflac Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cyclically Adjusted Revenue per Share Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 32.95 33.44 33.82 34.13 -

Competitive Comparison

For the Insurance - Life subindustry, Aflac's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Aflac Cyclically Adjusted PS Ratio Distribution

For the Insurance industry and Financial Services sector, Aflac's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Aflac's Cyclically Adjusted PS Ratio falls into.



Aflac Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Aflac's adjusted Revenue per Share data for the three months ended in Sep. 2023 was:

Adj_RevenuePerShare= Revenue per Share /CPI of Sep. 2023 (Change)*Current CPI (Sep. 2023)
=8.388/129.8595*129.8595
=8.388

Current CPI (Sep. 2023) = 129.8595.

Aflac Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201312 6.183 98.326 8.166
201403 6.156 99.695 8.019
201406 6.405 100.560 8.271
201409 6.276 100.428 8.115
201412 6.058 99.070 7.941
201503 5.941 99.621 7.744
201506 6.066 100.684 7.824
201509 5.857 100.392 7.576
201512 6.159 99.792 8.015
201603 6.454 100.470 8.342
201606 6.543 101.688 8.356
201609 6.932 101.861 8.837
201612 7.249 101.863 9.241
201703 6.548 102.862 8.267
201706 6.775 103.349 8.513
201709 6.906 104.136 8.612
201712 6.844 104.011 8.545
201803 6.950 105.290 8.572
201806 7.162 106.317 8.748
201809 7.204 106.507 8.784
201812 6.705 105.998 8.214
201903 7.462 107.251 9.035
201906 7.335 108.070 8.814
201909 7.420 108.329 8.895
201912 7.577 108.420 9.075
202003 7.040 108.902 8.395
202006 7.452 108.767 8.897
202009 7.883 109.815 9.322
202012 8.736 109.897 10.323
202103 8.372 111.754 9.728
202106 8.111 114.631 9.188
202109 7.833 115.734 8.789
202112 8.219 117.630 9.074
202203 7.889 121.301 8.446
202206 8.289 125.017 8.610
202209 7.455 125.227 7.731
202212 6.933 125.222 7.190
202303 7.864 127.348 8.019
202306 8.580 128.729 8.655
202309 8.388 129.860 8.388

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.


Aflac  (NYSE:AFL) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Aflac's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=80.32/34.13
=2.35

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Aflac was 2.50. The lowest was 0.96. And the median was 1.63.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


Aflac Cyclically Adjusted Revenue per Share Related Terms

Thank you for viewing the detailed overview of Aflac's Cyclically Adjusted Revenue per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Aflac (NYSE:AFL) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Aflac Inc (NYSE:AFL) » Definitions » Cyclically Adjusted Revenue per Share
Traded in Other Exchanges
Address
1932 Wynnton Road, Columbus, GA, USA, 31999
Aflac Inc offers supplemental health insurance and life insurance in the two largest insurance markets in the world, the U.S. and Japan. In addition to its cancer policies, the company has broadened its product offerings to include accident, disability, and long-term-care insurance. It markets its products through independent distributors, selling most of its policies directly to consumers at their places of work.
Executives
Steven Kent Beaver officer: SVP, CFO, Aflac US 1932 WYNNTON ROAD, COLUMBUS GA 31999
Masatoshi Koide officer: Deputy President, Aflac Japan 1932 WYNNTON RD, COLUMBUS GA 31999
June P Howard officer: Sr. Vice President 1932 WYNNTON RD, COLUMBUS GA 31999
Lake Charles D Ii officer: President AFLAC Japan AFLAC INC, 1932 WYNNTON RD, COLUMBUS GA 31999
Frederick John Crawford officer: EVP, Chief Financial Officer AFLAC INCORPORATED, COLUMBUS GA 31999
William P Bowers director 600 NORTH 18TH STREET, BIN 15N-8170, BIRMINGHAM AL 35203
Joseph L Moskowitz director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Simard Frederic Jean Guy officer: SVP, CFO, Aflac U.S. 1932 WYNNTON ROAD, COLUMBUS GA 31999
James Todd Daniels officer: Sr. Vice President 1932 WYNNTON ROAD, COLUMBUS GA 31999
Albert Riggieri officer: SVP, Corporate Actuary 1932 WYNNTON RD, COLUMBUS GA 31999
Virgil Raynard Miller officer: President, Aflac U.S. 1932 WYNNTON ROAD, COLUMBUS GA 31999
Barbara K Rimer director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Miwako Hosoda director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Bradley Eugene Dyslin officer: Executive Vice President 1932 WYNNTON ROAD, COLUMBUS GA 31999
Audrey B Tillman officer: Executive Vice President 1932 WYNNTON RD, COLUMBUS GA 31999