Aflac Incorporated (AFL) — Working Capital to Net Assets Ratio
Aflac Incorporated (AFL) has a Working Capital to Net Assets ratio of 243.1% as of September 2025. Working capital of $69.73 Billion (current assets of $71.20 Billion minus current liabilities of $1.48 Billion) is measured against net assets of $28.69 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See AFL net asset quality score to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Aflac Incorporated Working Capital to Net Assets (1989–2024)
This chart shows how Aflac Incorporated's Working Capital to Net Assets ratio has evolved across 36 annual periods from 1989 to 2024. As of September 2025, the ratio stands at 243.1%, reflecting working capital of $69.73 Billion against net assets of $28.69 Billion USD. Check tangible equity quality of Aflac Incorporated to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Aflac Incorporated (1989–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Aflac Incorporated from 1989 to 2024, covering 36 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see market cap of Aflac Incorporated.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 13.2% | $3.45 Billion | $26.10 Billion | $4.02 Billion | $573.00 Million | ▼ -109.0 pp |
| 2023 | 122.2% | $26.86 Billion | $21.98 Billion | $29.07 Billion | $2.21 Billion | ▼ -270.2 pp |
| 2022 | 392.4% | $79.03 Billion | $20.14 Billion | $80.33 Billion | $1.30 Billion | ▼ -15.7 pp |
| 2021 | 408.1% | $135.72 Billion | $33.25 Billion | $143.67 Billion | $7.96 Billion | ▲ +340.0 pp |
| 2020 | 68.2% | $107.16 Billion | $157.19 Billion | $111.82 Billion | $4.66 Billion | ▼ -248.2 pp |
| 2019 | 316.4% | $91.62 Billion | $28.96 Billion | $96.99 Billion | $5.37 Billion | ▼ -41.9 pp |
| 2018 | 358.3% | $84.06 Billion | $23.46 Billion | $88.08 Billion | $4.02 Billion | ▲ +9.8 pp |
| 2017 | 348.5% | $84.91 Billion | $24.36 Billion | $89.65 Billion | $4.75 Billion | ▼ -26.7 pp |
| 2016 | 375.2% | $76.84 Billion | $20.48 Billion | $82.23 Billion | $5.39 Billion | ▼ -19.0 pp |
| 2015 | 394.1% | $68.51 Billion | $17.38 Billion | $72.85 Billion | $4.34 Billion | ▼ -6.3 pp |
| 2014 | 400.4% | $73.47 Billion | $18.35 Billion | $73.77 Billion | $300.00 Million | ▼ -17.0 pp |
| 2013 | 417.4% | $61.03 Billion | $14.62 Billion | $64.75 Billion | $3.72 Billion | ▲ +37.3 pp |
| 2012 | 380.1% | $60.74 Billion | $15.98 Billion | $64.59 Billion | $3.86 Billion | ▼ -53.4 pp |
| 2011 | 433.5% | $56.13 Billion | $12.95 Billion | $56.97 Billion | $838.00 Million | ▲ +408.9 pp |
| 2010 | 24.7% | $2.73 Billion | $11.06 Billion | $2.92 Billion | $191.00 Million | ▼ -7.6 pp |
| 2009 | 32.3% | $2.72 Billion | $8.42 Billion | $3.20 Billion | $483.00 Million | ▲ +29.1 pp |
| 2008 | 3.2% | $215.00 Million | $6.64 Billion | $1.95 Billion | $1.73 Billion | ▼ -14.4 pp |
| 2007 | 17.6% | $1.55 Billion | $8.79 Billion | $2.36 Billion | $808.00 Million | ▲ +6.4 pp |
| 2006 | 11.2% | $931.00 Million | $8.34 Billion | $1.74 Billion | $807.00 Million | ▼ -4.7 pp |
| 2005 | 15.9% | $1.26 Billion | $7.93 Billion | $1.88 Billion | $622.00 Million | ▼ -1.9 pp |
| 2004 | 17.7% | $1.34 Billion | $7.58 Billion | $4.23 Billion | $2.89 Billion | ▼ -0.7 pp |
| 2003 | 18.4% | $1.23 Billion | $6.65 Billion | $1.60 Billion | $374.00 Million | ▲ +10.8 pp |
| 2002 | 7.7% | $491.00 Million | $6.39 Billion | $1.81 Billion | $1.32 Billion | ▼ -0.2 pp |
| 2001 | 7.9% | $428.00 Million | $5.42 Billion | $1.19 Billion | $765.00 Million | ▼ -8.8 pp |
| 2000 | 16.7% | $782.00 Million | $4.69 Billion | $909.00 Million | $127.00 Million | ▲ +823.2 pp |
| 1999 | -806.5% | $-31.20 Billion | $3.87 Billion | $886.00 Million | $32.08 Billion | ▼ -819.3 pp |
| 1998 | 12.8% | $483.00 Million | $3.77 Billion | $656.00 Million | $173.00 Million | ▲ +93.3 pp |
| 1997 | -80.5% | $-2.76 Billion | $3.43 Billion | $495.02 Million | $3.26 Billion | ▼ -71.0 pp |
| 1996 | -9.5% | $-202.14 Million | $2.13 Billion | $488.68 Million | $690.82 Million | ▲ +32.7 pp |
| 1995 | -42.2% | $-900.77 Million | $2.13 Billion | $557.44 Million | $1.46 Billion | ▼ -45.0 pp |
| 1994 | 2.8% | $49.00 Million | $1.75 Billion | $652.31 Million | $603.31 Million | ▼ -13.1 pp |
| 1993 | 15.9% | $217.00 Million | $1.37 Billion | $232.00 Million | $15.00 Million | ▲ +4.8 pp |
| 1992 | 11.1% | $120.10 Million | $1.08 Billion | $179.50 Million | $59.40 Million | ▲ +0.6 pp |
| 1991 | 10.5% | $96.90 Million | $923.50 Million | $159.70 Million | $62.80 Million | ▲ +0.7 pp |
| 1990 | 9.8% | $77.70 Million | $791.00 Million | $144.00 Million | $66.30 Million | ▲ +7.9 pp |
| 1989 | 1.9% | $13.50 Million | $702.20 Million | $120.20 Million | $106.70 Million | — |