Aflac vs Brighthouse Financial
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KIRAβs take AI analyst
I put Aflac and Brighthouse Financial side by side, using each oneβs latest annual report. Here is what stands out:
- Aflac is the larger business, with $17.2B of revenue in fiscal 2025 against $6.8B for Brighthouse Financial, about 2.5 times as much.
- Brighthouse Financial grew revenue faster (43.2%, against β9.3%).
- Investors pay more for each dollar of Aflacβs earnings: a P/E of 13.0x against 3.6x for Brighthouse Financial.
Who comes out ahead
Of the 4 measures where higher (or lower) is clearly better, how many each company leads.
Aflac
AFL
1/4
Net margin
Brighthouse Financial
BHF
3/4
Revenue growth5-year growthShare count change
Side by side
Best in the row
| Latest fiscal year | AFL FY25 | BHF FY25 |
|---|---|---|
| Size | ||
| Market cap | $61.1B | $2.6B |
| Revenue | $17.2B | $6.8B |
| Free cash flow | β | β |
| Net income | $3.6B | $433M |
| Growth | ||
| Revenue growth | β9.3% | 43.2% |
| 5-year growth | β5.0% | β4.5% |
| Share count change | β5.3% | β5.9% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 21.2% | 6.4% |
| FCF margin | β | β |
| Return on capital | 13.0% | β |
| Return on equity | 13.1% | β |
| Balance sheet | ||
| Net debt | $2.1B | β$3.4B |
| Net debt / EBITDA | 0.4x | β |
| Dividends and buybacks | $4.7B | $102M |
| Valuation & quality | ||
| P/E | 13.0x | 3.6x |
| Piotroski F-score | β | β |
Ten years
Revenue
FY16
AFL $22.6B
BHF $3.0B
FY17
AFL $21.7B
BHF $6.8B
FY18
AFL $21.8B
BHF $9.0B
FY19
AFL $22.3B
BHF $6.6B
FY20
AFL $22.1B
BHF $8.5B
FY21
AFL $21.6B
BHF $5.0B
FY22
AFL $19.1B
BHF $6.9B
FY23
AFL $18.7B
BHF $4.1B
FY24
AFL $18.9B
BHF $4.7B
FY25
AFL $17.2B
BHF $6.8B
AFL
BHF
Operating margin
FY16
AFL 18.3%
BHF β
FY17
AFL 18.9%
BHF β
FY18
AFL 20.0%
BHF β
FY19
AFL 20.0%
BHF β
FY20
AFL 19.9%
BHF β
FY21
AFL 22.9%
BHF β
FY22
AFL 21.7%
BHF β
FY23
AFL β
BHF β
FY24
AFL β
BHF β
FY25
AFL β
BHF β
AFL
BHF
Free cash flow
FY16
AFL β
BHF β
FY17
AFL β
BHF β
FY18
AFL β
BHF β
FY19
AFL β
BHF β
FY20
AFL β
BHF β
FY21
AFL β
BHF β
FY22
AFL β
BHF β
FY23
AFL β
BHF β
FY24
AFL β
BHF β
FY25
AFL β
BHF β
AFL
BHF
Return on capital
FY16
AFL 13.7%
BHF β
FY17
AFL 17.3%
BHF β
FY18
AFL 12.5%
BHF β
FY19
AFL 12.0%
BHF β
FY20
AFL 13.3%
BHF β
FY21
AFL 14.3%
BHF β
FY22
AFL 17.4%
BHF β
FY23
AFL 20.0%
BHF β
FY24
AFL 21.5%
BHF β
FY25
AFL 13.0%
BHF β
AFL
BHF
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.