Aflac Incorporated (AFL) vs Primerica, Inc. (PRI)

Aflac Incorporated and Primerica, Inc. are both Insurance Life companies. Aflac Incorporated is the larger, with a market value of $63.3B against $8.9B — 7.1× the size. Primerica, Inc. trades at the lower P/E: 11.3× against 18.3×. Primerica, Inc. grew revenue faster over the last twelve months: 8.27% against −6.23%. Primerica, Inc. has the higher net margin (22.9% vs 21.2%) and the higher return on invested capital (17.5% vs 8.24%). Both pay a dividend; Aflac Incorporated yields more (1.91% vs 1.61%). Across the 21 metrics below, Primerica, Inc. leads on 15 and Aflac Incorporated on 6.

Valuation

Metric AFL PRI Insurance Life median
P/E 18.28 11.34 11.34
P/S 3.77 2.53 0.81
P/B 2.14 3.13 1.08
Price to free cash flow 24.15 9.48 7.43
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 5.47% 8.82% 8.82%
Free cash flow yield 4.14% 10.54% 13.20%

Profitability

Metric AFL PRI Insurance Life median
Gross margin 51.90% 0.00% 30.01%
Operating margin 27.39% 0.00% 8.83%
Net margin 21.24% 22.86% 9.93%
Free cash flow margin 15.61% 26.70% 15.40%
Return on equity 12.16% 31.18% 8.47%
Return on assets 2.99% 5.45% 0.50%
Return on invested capital 8.24% 17.54% 7.11%

Growth

Metric AFL PRI Insurance Life median
Revenue growth (TTM) (6.23%) 8.27% 4.80%
EPS growth (last fiscal year) (29.18%) 67.10% (3.45%)
Revenue growth, 5-year CAGR (4.97%) 8.22% 1.33%
Net income growth, 5-year CAGR (5.26%) 14.33% 0.00%

Health

Metric AFL PRI Insurance Life median
Debt to equity 0.30 0.57 0.48
Current ratio 0.00 0.33 0.21
Net debt to EBITDA 0.38 0.76 0.12

Dividend

Metric AFL PRI Insurance Life median
Dividend yield 1.91% 1.61% 2.28%
Payout ratio 0.35 0.18 0.28

Size

Metric AFL PRI Insurance Life median
Market cap 63.29b 8.89b 7.96b

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