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Aflac（AFL）与Unum Group（UNM）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Unum Group的1.5倍（$4.9B vs $3.2B）。Aflac净利率更高（28.3% vs 5.4%，领先23.0%）。Unum Group同比增速更快（0.2% vs -10.0%）。过去两年Unum Group的营收复合增速更高（0.7% 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。
Unum Group是美国财富500强保险企业，总部位于田纳西州查塔努加，前身为1848年成立的联合相互保险公司，1999年合并后曾用名UnumProvident至2007年。集团现设四大业务板块，覆盖美、英、波兰市场，旗下承保主体包括保罗里维尔人寿保险、普罗维登斯人伤意外险公司等。
AFL vs UNM — 直观对比
营收规模更大
AFL
是对方的1.5倍
$3.2B
营收增速更快
UNM
高出10.2%
-10.0%
净利率更高
AFL
高出23.0%
5.4%
两年增速更快
UNM
近两年复合增速
-5.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $3.2B |
| 净利润 | $1.4B | $174.1M |
| 毛利率 | — | — |
| 营业利润率 | 32.3% | 6.7% |
| 净利率 | 28.3% | 5.4% |
| 营收同比 | -10.0% | 0.2% |
| 净利润同比 | -27.5% | -50.1% |
| 每股收益（稀释后） | $2.58 | $1.06 |
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AFLUNM
| Q4 25 | $4.9B | $3.2B | ||
| Q3 25 | $4.7B | $3.4B | ||
| Q2 25 | $4.2B | $3.4B | ||
| Q1 25 | $3.4B | $3.1B | ||
| Q4 24 | $5.4B | $3.2B | ||
| Q3 24 | $2.9B | $3.2B | ||
| Q2 24 | $5.1B | $3.2B | ||
| Q1 24 | $5.4B | $3.2B |
净利润AFLUNM
| Q4 25 | $1.4B | $174.1M | ||
| Q3 25 | $1.6B | $39.7M | ||
| Q2 25 | $599.0M | $335.6M | ||
| Q1 25 | $29.0M | $189.1M | ||
| Q4 24 | $1.9B | $348.7M | ||
| Q3 24 | $-93.0M | $645.7M | ||
| Q2 24 | $1.8B | $389.5M | ||
| Q1 24 | $1.9B | $395.2M |
营业利润率AFLUNM
| Q4 25 | 32.3% | 6.7% | ||
| Q3 25 | 42.1% | 1.6% | ||
| Q2 25 | 19.8% | 12.4% | ||
| Q1 25 | 4.3% | 7.9% | ||
| Q4 24 | 39.5% | 13.8% | ||
| Q3 24 | 3.1% | 15.6% | ||
| Q2 24 | 39.3% | 15.3% | ||
| Q1 24 | 39.9% | 15.5% |
净利率AFLUNM
| Q4 25 | 28.3% | 5.4% | ||
| Q3 25 | 34.6% | 1.2% | ||
| Q2 25 | 14.4% | 10.0% | ||
| Q1 25 | 0.9% | 6.1% | ||
| Q4 24 | 35.2% | 10.8% | ||
| Q3 24 | -3.2% | 20.1% | ||
| Q2 24 | 34.2% | 12.0% | ||
| Q1 24 | 34.6% | 12.3% |
每股收益（稀释后）AFLUNM
| Q4 25 | $2.58 | $1.06 | ||
| Q3 25 | $3.08 | $0.23 | ||
| Q2 25 | $1.11 | $1.92 | ||
| Q1 25 | $0.05 | $1.06 | ||
| Q4 24 | $3.45 | $1.91 | ||
| Q3 24 | $-0.17 | $3.46 | ||
| Q2 24 | $3.10 | $2.05 | ||
| Q1 24 | $3.25 | $2.04 |
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 | — | $3.8B |
| 股东权益账面价值 | $29.5B | $11.1B |
| 总资产 | $116.5B | $63.5B |
| 负债/权益比越低杠杆越低 | — | 0.34× |
8季度趋势，按日历期对齐
现金及短期投资AFLUNM
| 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 | — |
总债务AFLUNM
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $3.5B | ||
| Q3 24 | — | $3.5B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.4B |
股东权益AFLUNM
| Q4 25 | $29.5B | $11.1B | ||
| Q3 25 | $28.7B | $10.9B | ||
| Q2 25 | $27.2B | $11.3B | ||
| Q1 25 | $26.3B | $11.2B | ||
| Q4 24 | $26.1B | $11.0B | ||
| Q3 24 | $24.8B | $11.0B | ||
| Q2 24 | $26.0B | $10.5B | ||
| Q1 24 | $23.5B | $10.2B |
总资产AFLUNM
| Q4 25 | $116.5B | $63.5B | ||
| Q3 25 | $122.3B | $63.7B | ||
| Q2 25 | $124.7B | $62.8B | ||
| Q1 25 | $120.3B | $62.5B | ||
| Q4 24 | $117.6B | $62.0B | ||
| Q3 24 | $128.4B | $64.1B | ||
| Q2 24 | $120.2B | $62.0B | ||
| Q1 24 | $124.7B | $62.5B |
负债/权益比AFLUNM
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.33× | ||
| Q1 24 | — | 0.34× |
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 | $357.9M |
| 自由现金流经营现金流 - 资本支出 | — | $320.1M |
| 自由现金流率自由现金流/营收 | — | 9.9% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 0.23× | 2.06× |
| 过去12个月自由现金流最近4个季度 | — | $555.4M |
8季度趋势，按日历期对齐
经营现金流AFLUNM
| Q4 25 | $315.0M | $357.9M | ||
| Q3 25 | $1.3B | $-371.8M | ||
| Q2 25 | $399.0M | $348.0M | ||
| Q1 25 | $589.0M | $353.6M | ||
| Q4 24 | $333.0M | $485.8M | ||
| Q3 24 | $1.3B | $390.0M | ||
| Q2 24 | $255.0M | $339.1M | ||
| Q1 24 | $849.0M | $298.3M |
自由现金流AFLUNM
| Q4 25 | — | $320.1M | ||
| Q3 25 | — | $-402.6M | ||
| Q2 25 | — | $320.1M | ||
| Q1 25 | — | $317.8M | ||
| Q4 24 | — | $453.8M | ||
| Q3 24 | — | $352.3M | ||
| Q2 24 | — | $311.4M | ||
| Q1 24 | — | $270.0M |
自由现金流率AFLUNM
| Q4 25 | — | 9.9% | ||
| Q3 25 | — | -11.9% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 10.3% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | — | 11.0% | ||
| Q2 24 | — | 9.6% | ||
| Q1 24 | — | 8.4% |
资本支出强度AFLUNM
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 0.9% |
现金转化率AFLUNM
| Q4 25 | 0.23× | 2.06× | ||
| Q3 25 | 0.76× | -9.37× | ||
| Q2 25 | 0.67× | 1.04× | ||
| Q1 25 | 20.31× | 1.87× | ||
| Q4 24 | 0.18× | 1.39× | ||
| Q3 24 | — | 0.60× | ||
| Q2 24 | 0.15× | 0.87× | ||
| Q1 24 | 0.45× | 0.75× |
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% |
UNM
| Unum Us | $2.0B | 60% |
| Colonial Life | $507.0M | 16% |
| Closed Block | $445.6M | 14% |
| Unum International | $323.0M | 10% |
