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Aflac vs CNO Financial: revenue, profit, margins and growth compared

Aflac brought in $17.2B of revenue in fiscal 2025, CNO Financial $4.5B in fiscal 2025. Revenue changed by -9.3% at Aflac and +0.9% at CNO Financial on the year before, so CNO Financial grew faster. Aflac kept 21.2% of its revenue as net profit, CNO Financial 5.1%.

Side by side, latest fiscal year

AFLCNO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17.2B$4.5B
Revenue growth-9.3%+0.9%
Net income$3.6B$229.3M
Net margin21.2%5.1%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)$6.82$2.30
Cash$6.2B$983.5M
Debt$8.4Bn/a
Price to earnings16.723.5
Market value$57B$5B
Dividend yield2.07%1.24%
Rank by revenue in sector#38 of 444 · Finance#103 of 444 · Finance

Over the years

Revenue
AFL FY2018: $21.8BAFL FY2019: $22.3BAFL FY2020: $22.1BAFL FY2021: $21.6BAFL FY2022: $19.1BAFL FY2023: $18.7BAFL FY2024: $18.9BAFL FY2025: $17.2BCNO FY2018: $4.3BCNO FY2019: $4BCNO FY2020: $3.8BCNO FY2021: $4.1BCNO FY2022: $3.6BCNO FY2023: $4.1BCNO FY2024: $4.4BCNO FY2025: $4.5BFY18FY19FY20FY21FY22FY23FY24FY25
AFL $17.2BCNO $4.5B
Net income
AFL FY2018: $2.9BAFL FY2019: $3.3BAFL FY2020: $4.8BAFL FY2021: $4.2BAFL FY2022: $4.4BAFL FY2023: $4.7BAFL FY2024: $5.4BAFL FY2025: $3.6BCNO FY2018: -$315MCNO FY2019: $409.4MCNO FY2020: $301.8MCNO FY2021: $570.3MCNO FY2022: $630.6MCNO FY2023: $276.5MCNO FY2024: $420.8MCNO FY2025: $229.3MFY18FY19FY20FY21FY22FY23FY24FY25
AFL $3.6BCNO $229.3M
Net margin
AFL FY2018: 13.4%AFL FY2019: 14.8%AFL FY2020: 21.6%AFL FY2021: 19.6%AFL FY2022: 23.1%AFL FY2023: 24.9%AFL FY2024: 28.8%AFL FY2025: 21.2%CNO FY2018: -7.3%CNO FY2019: 10.2%CNO FY2020: 7.9%CNO FY2021: 13.8%CNO FY2022: 17.6%CNO FY2023: 6.7%CNO FY2024: 9.5%CNO FY2025: 5.1%FY18FY19FY20FY21FY22FY23FY24FY25
AFL 21.2%CNO 5.1%
Revenue growth
AFL FY2019: +2.5%AFL FY2020: -0.7%AFL FY2021: -2.7%AFL FY2022: -11.2%AFL FY2023: -2.3%AFL FY2024: +1.2%AFL FY2025: -9.3%CNO FY2019: -6.9%CNO FY2020: -4.8%CNO FY2021: +7.9%CNO FY2022: -13.2%CNO FY2023: +15.9%CNO FY2024: +7.3%CNO FY2025: +0.9%FY19FY20FY21FY22FY23FY24FY25
AFL -9.3%CNO +0.9%

Fiscal years as each company reports them; the two may end in different months.

Questions about Aflac and CNO Financial

Which is bigger by revenue, Aflac or CNO Financial?

Aflac is bigger by revenue: $17.2B in fiscal 2025, against $4.5B for CNO Financial in fiscal 2025.

Which keeps more of its revenue as profit, Aflac or CNO Financial?

Aflac had a net margin of 21.2% in fiscal 2025; CNO Financial had 5.1% in fiscal 2025.

Which grew revenue faster, Aflac or CNO Financial?

In their latest fiscal years revenue changed by -9.3% at Aflac and +0.9% at CNO Financial.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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