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Aflac（AFL）与CNO Financial Group, Inc.（CNO）财务数据对比。点击上方公司名可切换其他公司
Aflac的季度营收约是CNO Financial Group, Inc.的4.3倍（$4.9B vs $1.1B）。Aflac净利率更高（28.3% vs 8.8%，领先19.5%）。CNO Financial Group, Inc.同比增速更快（4.2% vs -10.0%）。过去两年CNO Financial Group, Inc.的营收复合增速更高（-0.6% vs -5.4%）
Aflac是美国知名保险企业，也是美国最大的补充保险提供商，成立于1955年，总部位于佐治亚州哥伦布市。公司在美国推出多类保险产品，其中薪资抵扣型保险服务知名度较高，参保人遭遇保障范围内的意外或疾病时可获现金赔付，目前已为全球超5000万用户提供财务保障。
CNO金融集团是总部位于美国印第安纳州卡梅尔的金融服务控股公司，前身为康塞科公司。集团旗下保险子公司为美国超400万客户提供人寿保险、年金和补充健康保险产品，通过独立代理人、专属代理人，以及电视广告、直邮等直销触达用户。
AFL vs CNO — 直观对比
营收规模更大
AFL
是对方的4.3倍
$1.1B
营收增速更快
CNO
高出14.1%
-10.0%
净利率更高
AFL
高出19.5%
8.8%
两年增速更快
CNO
近两年复合增速
-5.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $1.1B |
| 净利润 | $1.4B | $100.7M |
| 毛利率 | — | — |
| 营业利润率 | 32.3% | 15.2% |
| 净利率 | 28.3% | 8.8% |
| 营收同比 | -10.0% | 4.2% |
| 净利润同比 | -27.5% | -39.4% |
| 每股收益（稀释后） | $2.58 | $1.02 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AFLCNO
| Q4 25 | $4.9B | $1.1B | ||
| Q3 25 | $4.7B | $1.2B | ||
| Q2 25 | $4.2B | $1.2B | ||
| Q1 25 | $3.4B | $1.0B | ||
| Q4 24 | $5.4B | $1.1B | ||
| Q3 24 | $2.9B | $1.1B | ||
| Q2 24 | $5.1B | $1.1B | ||
| Q1 24 | $5.4B | $1.2B |
净利润AFLCNO
| Q4 25 | $1.4B | $100.7M | ||
| Q3 25 | $1.6B | $23.1M | ||
| Q2 25 | $599.0M | $91.8M | ||
| Q1 25 | $29.0M | $13.7M | ||
| Q4 24 | $1.9B | $166.1M | ||
| Q3 24 | $-93.0M | $9.3M | ||
| Q2 24 | $1.8B | $116.3M | ||
| Q1 24 | $1.9B | $112.3M |
营业利润率AFLCNO
| Q4 25 | 32.3% | 15.2% | ||
| Q3 25 | 42.1% | 13.7% | ||
| Q2 25 | 19.8% | 9.8% | ||
| Q1 25 | 4.3% | 10.4% | ||
| Q4 24 | 39.5% | 15.8% | ||
| Q3 24 | 3.1% | 13.6% | ||
| Q2 24 | 39.3% | 13.9% | ||
| Q1 24 | 39.9% | 6.5% |
净利率AFLCNO
| Q4 25 | 28.3% | 8.8% | ||
| Q3 25 | 34.6% | 1.9% | ||
| Q2 25 | 14.4% | 8.0% | ||
| Q1 25 | 0.9% | 1.4% | ||
| Q4 24 | 35.2% | 15.1% | ||
| Q3 24 | -3.2% | 0.8% | ||
| Q2 24 | 34.2% | 10.9% | ||
| Q1 24 | 34.6% | 9.7% |
每股收益（稀释后）AFLCNO
| Q4 25 | $2.58 | $1.02 | ||
| Q3 25 | $3.08 | $0.24 | ||
| Q2 25 | $1.11 | $0.91 | ||
| Q1 25 | $0.05 | $0.13 | ||
| Q4 24 | $3.45 | $1.58 | ||
| Q3 24 | $-0.17 | $0.09 | ||
| Q2 24 | $3.10 | $1.06 | ||
| Q1 24 | $3.25 | $1.01 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $6.2B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $29.5B | $2.6B |
| 总资产 | $116.5B | $38.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AFLCNO
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.8B | — | ||
| Q2 25 | $7.0B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $6.2B | — | ||
| Q3 24 | $5.6B | — | ||
| Q2 24 | $6.1B | — | ||
| Q1 24 | $5.1B | — |
股东权益AFLCNO
| Q4 25 | $29.5B | $2.6B | ||
| Q3 25 | $28.7B | $2.6B | ||
| Q2 25 | $27.2B | $2.5B | ||
| Q1 25 | $26.3B | $2.5B | ||
| Q4 24 | $26.1B | $2.5B | ||
| Q3 24 | $24.8B | $2.7B | ||
| Q2 24 | $26.0B | $2.4B | ||
| Q1 24 | $23.5B | $2.4B |
总资产AFLCNO
| Q4 25 | $116.5B | $38.8B | ||
| Q3 25 | $122.3B | $38.3B | ||
| Q2 25 | $124.7B | $37.3B | ||
| Q1 25 | $120.3B | $37.4B | ||
| Q4 24 | $117.6B | $37.9B | ||
| Q3 24 | $128.4B | $37.6B | ||
| Q2 24 | $120.2B | $36.3B | ||
| Q1 24 | $124.7B | $34.9B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $315.0M | $195.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 0.23× | 1.94× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AFLCNO
| Q4 25 | $315.0M | $195.7M | ||
| Q3 25 | $1.3B | $197.8M | ||
| Q2 25 | $399.0M | $145.5M | ||
| Q1 25 | $589.0M | $136.7M | ||
| Q4 24 | $333.0M | $191.0M | ||
| Q3 24 | $1.3B | $231.2M | ||
| Q2 24 | $255.0M | $110.9M | ||
| Q1 24 | $849.0M | $94.6M |
现金转化率AFLCNO
| Q4 25 | 0.23× | 1.94× | ||
| Q3 25 | 0.76× | 8.56× | ||
| Q2 25 | 0.67× | 1.58× | ||
| Q1 25 | 20.31× | 9.98× | ||
| Q4 24 | 0.18× | 1.15× | ||
| Q3 24 | — | 24.86× | ||
| Q2 24 | 0.15× | 0.95× | ||
| Q1 24 | 0.45× | 0.84× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AFL
| Aflac Japan | $2.3B | 47% |
| Aflac US | $1.7B | 35% |
| Other | $862.0M | 18% |
CNO
| Health Insurance Product Line | $496.4M | 43% |
| Life Insurance Segment | $268.8M | 24% |
| Other | $207.2M | 18% |
| Life And Annuity Insurance Product Line | $170.7M | 15% |
