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Aflac (NYSE:AFL) Asset Turnover

: 0.04 (As of Sep. 2022)
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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Aflac's Revenue for the three months ended in Sep. 2022 was $4,827 Mil. Aflac's Total Assets for the quarter that ended in Sep. 2022 was $131,865 Mil. Therefore, Aflac's Asset Turnover for the quarter that ended in Sep. 2022 was 0.04.

Asset Turnover is linked to ROE % through Du Pont Formula. Aflac's annualized ROE % for the quarter that ended in Sep. 2022 was 25.26%. It is also linked to ROA % through Du Pont Formula. Aflac's annualized ROA % for the quarter that ended in Sep. 2022 was 4.84%.


Aflac Asset Turnover Historical Data

The historical data trend for Aflac's Asset Turnover 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 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Asset Turnover
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.16 0.16 0.15 0.14 0.14

Aflac Quarterly Data
Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
Asset Turnover 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 0.03 0.03 0.03 0.04 0.04

Competitive Comparison

For the Insurance - Life subindustry, Aflac's Asset Turnover, along with its competitors' market caps and Asset Turnover 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 Asset Turnover Distribution

For the Insurance industry and Financial Services sector, Aflac's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Aflac's Asset Turnover falls in comparison to its industry or sector. The grey bar indicates the Asset Turnover's extreme value range as defined by GuruFocus.



Aflac Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Aflac's Asset Turnover for the fiscal year that ended in Dec. 2021 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Dec. 2021 )/( (Total Assets (A: Dec. 2020 )+Total Assets (A: Dec. 2021 ))/ count )
=21923/( (165086+157542)/ 2 )
=21923/161314
=0.14

Aflac's Asset Turnover for the quarter that ended in Sep. 2022 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Sep. 2022 )/( (Total Assets (Q: Jun. 2022 )+Total Assets (Q: Sep. 2022 ))/ count )
=4827/( (135629+128100)/ 2 )
=4827/131864.5
=0.04

* 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.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.


Aflac  (NYSE:AFL) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Aflac's annulized ROE % for the quarter that ended in Sep. 2022 is

ROE %**(Q: Sep. 2022 )
=Net Income/Total Stockholders Equity
=6384/25269.5
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(6384 / 19308)*(19308 / 131864.5)*(131864.5/ 25269.5)
=Net Margin %*Asset Turnover*Equity Multiplier
=33.06 %*0.1464*5.2183
=ROA %*Equity Multiplier
=4.84 %*5.2183
=25.26 %

Note: The Net Income data used here is four times the quarterly (Sep. 2022) net income data. The Revenue data used here is four times the quarterly (Sep. 2022) revenue data.

* 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.

** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Aflac's annulized ROA % for the quarter that ended in Sep. 2022 is

ROA %(Q: Sep. 2022 )
=Net Income/Total Assets
=6384/131864.5
=(Net Income / Revenue)*(Revenue / Total Assets)
=(6384 / 19308)*(19308 / 131864.5)
=Net Margin %*Asset Turnover
=33.06 %*0.1464
=4.84 %

Note: The Net Income data used here is four times the quarterly (Sep. 2022) net income data. The Revenue data used here is four times the quarterly (Sep. 2022) revenue data.

* 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.


Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.


Aflac Asset Turnover Related Terms

Thank you for viewing the detailed overview of Aflac's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.


Aflac (NYSE:AFL) Business Description

Aflac logo
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 accidents, 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
Virgil Raynard Miller officer: President, Aflac U.S. 1932 WYNNTON ROAD, COLUMBUS GA 31999
Bradley Eugene Dyslin officer: Executive Vice President 1932 WYNNTON ROAD, COLUMBUS GA 31999
Arthur Reginald Collins director 3911 LORCOM LANE, ARLINGTON VA 22207
Nobuchika Mori director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Georgette D. Kiser director 1001 PENNSYLVANIA AVENUE, NW, WASHINGTON DC 20004-2505
Steven Kent Beaver officer: SVP, CFO, Aflac US 1932 WYNNTON ROAD, COLUMBUS GA 31999
Richard Jr Williams officer: Executive V.P. 1932 WYNNTON RD, COLUMBUS GA 31999
Albert Riggieri officer: SVP, Corporate Actuary 1932 WYNNTON RD, COLUMBUS GA 31999
Katherine Rohrer director 1932 WYNNTON RD, COLUMBUS GA 31999
Masatoshi Koide officer: Deputy President, Aflac Japan 1932 WYNNTON RD, COLUMBUS GA 31999
Max Broden officer: Senior Vice President 1932 WYNNTON RD, COLUMBUS GA 31999
Karole Lloyd director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Toshihiko Fukuzawa director 1932 WYNNTON RD, COLUMBUS GA 31999
James Todd Daniels officer: Sr. Vice President 1932 WYNNTON ROAD, COLUMBUS GA 31999
Frederick John Crawford officer: EVP, Chief Financial Officer AFLAC INCORPORATED, COLUMBUS GA 31999

Aflac (NYSE:AFL) Headlines

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