Aflac vs Lincoln National
Aflac and Lincoln National are similar in size: $17.16bn and $18.21bn of revenue in their latest fiscal years. Lincoln National grew faster (-1.2% against -9.3%). Aflac kept more of each dollar of sales as profit: a net margin of 21.2% against 6.5%. Aflac carries less debt relative to equity (28.5% against 57.5%).
| Latest fiscal year | AflacAFL, 2025 | Lincoln NationalLNC, 2025 |
|---|---|---|
| Revenue | $17.16bn | $18.21bn |
| Revenue growth | -9.3% | -1.2% |
| Net income | $3.65bn | $1.18bn |
| Operating margin | — | — |
| Net margin | 21.2% | 6.5% |
| Return on equity | 13.1% | 12.3% |
| Free cash flow | — | — |
| Cash | $6.25bn | $9.50bn |
| Total debt | $8.41bn | $6.27bn |
| Debt to equity | 28.5% | 57.5% |
| Dividend per share | $2.35 | $1.80 |
| Dividend yield | — | — |
| Share buybacks | $3.53bn | — |
| Employees | 6,996 | 9,423 |
| Market value | $62.17bn | $8.08bn |
| Price vs our value range | — | — |
| Moat score | 80 (Strong) | 21 (Weak) |
| Insider trades, 12 months | 0 buys, 233 sales | 4 buys, 8 sales |