F
AFLAC Incorporated — Earnings Quality Grade F
AFL · Financial Services
Major red flags
Revenue
$17.4B
2025
Net Income
$3.6B
2025
Gross Margin
—
Free Cash Flow
$2.6B
01
Screening Summary
10
Passed
0
Watch
1
Failed
—
M-Score
02
Financial Trends
Revenue & Net Income ($B)
Margins (%)
03
18-Point Screening
01
Revenue Quality
✓
A1DSO Change
DSO 18 days, change +3 days YoY
✓
A2AR vs Revenue Growth
AR growth 7.2% vs revenue growth -9.3%
✓
A3Revenue vs CFFO
Revenue -9.3%, CFFO -5.6%. Cash follows revenue
02
Expense Quality
✓
B1Inventory vs COGS
No material inventory
—
B2CapEx vs Revenue
Insufficient data
—
B3SG&A Ratio
Insufficient data
—
B4Gross Margin
Insufficient data
03
Cash Flow Quality
✗
C1CFFO vs Net Income
CFFO < Net Income for 3 consecutive years
✓
C2Free Cash Flow
FCF $2.6B, FCF/NI = 0.70
✓
C3Accruals Ratio
Accruals ratio = 0.9%. Low accruals
✓
C4Cash vs Debt
Cash $70.4B covers debt $8.4B
04
Balance Sheet Health
✓
D1Goodwill + Intangibles
No goodwill. Clean balance sheet
—
D2Leverage
Insufficient data
—
D3Soft Asset Growth
Insufficient data
—
D4Asset Impairment
No write-off data
05
Acquisition Risk
✓
E1Serial Acquirer FCF
FCF after acquisitions positive
✓
E2Goodwill Surge
No goodwill
06
Manipulation Score
—
F1Beneish M-Score
Insufficient data
Altman Z-Score — Not Applicable
AFLAC Incorporated is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09