AflacAFL -0.04%70 Debt-to-Equity is 0.26 as of Mar. 2026, which is at its 10-year median of 0.26. GuruFocus rates AFL with a GF Score™ of 70/100 and a GF Value™ of $109.09 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 407 Insurance companies, Aflac ranks worse than 57.99% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Aflac's Debt-to-Equity or its related term are showing as below:
AFL'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.21 Med: 0.26 Max: 0.38
Current: 0.26
During the past 13 years, the highest Debt-to-Equity Ratio of Aflac was 0.38. The lowest was 0.21. And the median was 0.26.
AFL's Debt-to-Equity is ranked worse than 57.99% of 407
companies
in the Insurance industry
Industry Median: 0.21
vs AFL: 0.26
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Aflac Debt-to-Equity Related Terms
Aflac Debt-to-Equity Historical Data
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The historical data trend for Aflac's Debt-to-Equity 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.
For the Insurance - Life subindustry, Aflac's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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 Debt-to-Equity vs Insurance Industry
For the Insurance industry and Financial Services sector, Aflac's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Aflac's Debt-to-Equity falls into.
* 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.
Aflac (AFL) has a Debt-to-Equity of 0.26 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Aflac and its competitors. This is near median its historical median of 0.26. Over the past decade, Aflac's Debt-to-Equity has ranged from 0.21 to 0.38. According to the industry distribution chart, Aflac ranks #236 out of 407 companies in the Insurance industry, placing it in the top 58%.
Is Aflac's Debt-to-Equity too high?
Aflac's current Debt-to-Equity of 0.26 is near median its 10-year median of 0.26. Over the past 10 years, this metric has ranged from a low of 0.21 to a high of 0.38. The Insurance industry median Debt-to-Equity is 0.21. Aflac's value of 0.26 is 23.8% above this industry median. Based on the distribution chart, Aflac ranks #236 out of 407 companies in the Insurance industry, which is below the industry midpoint. Overall, Aflac has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aflac's Debt-to-Equity compare to MET and PRU?
According to the Insurance industry distribution chart, Aflac ranks #236 out of 407 companies for Debt-to-Equity. This places Aflac in the lower half of its industry. The industry median Debt-to-Equity is 0.21. Aflac's value of 0.26 is 23.8% above this benchmark. Historically, Aflac's own Debt-to-Equity has ranged from 0.21 to 0.38 over the past decade. While the company's 10-year median is 0.26 vs. the industry median of 0.21, Aflac has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for an Insurance company?
The median Debt-to-Equity among Insurance companies is 0.21, based on 407 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Aflac's current Debt-to-Equity of 0.26 is 23.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Aflac and its competitors. For the Insurance industry, the median Debt-to-Equity is 0.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aflac's current Debt-to-Equity is 0.26, which is near median its own 10-year median of 0.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aflac stock overvalued right now?
Based on GuruFocus' analysis, Aflac (AFL) is currently considered Modestly Overvalued. The stock's GF Value™ is $109.09, compared to a current price of $121.44 — trading 11.3% above its estimated fair value. The current Debt-to-Equity is 0.26, which is near median its 10-year median of 0.26 and 23.8% above the Insurance industry median of 0.21. Aflac's overall GF Score™ is 70/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Aflac (AFL), the current Debt-to-Equity is 0.26 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Aflac (AFL) Overvalued in 2026?
Based on GuruFocus' analysis, Aflac stock appears to be overvalued.
The current stock price of $121.44 is trading 11.3% above its estimated GF Value™ of $109.09.
GuruFocus considers Aflac to be Modestly Overvalued.
Key valuation signals for AFL:
Debt-to-Equity: 0.26 (near median its 10-year median of 0.26)
GF Value™: $109.09 vs. price of $121.44 (11.3% above fair value)
Industry Position: 23.8% above the Insurance median (#236 of 407)
No single metric tells the full story. See the AFL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aflac Inc offers supplemental health insurance and life insurance in the United States and Japan. In addition to its cancer policies, the company has broadened its product offerings to include accident, dental and vision, disability, and long-term-care insurance. It markets its products through independent distributors, selling the majority of its policies directly to consumers at their places of work, and also reaches out to its customers outside of their worksite through digital mediums. The company has two reportable business segments: Aflac Japan, which generates the maximum revenue, and Aflac U.S.
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