Aflac Inc (AFL) is slightly undervalued and Globe Life Inc (GL) is slightly undervalued.
Against our estimates of intrinsic value, AFL trades at the wider discount: a margin of safety of +19%, against +17% for GL.
Values as of the 22 Sept 2026 close.
Book value at 2.50x, the multiple a 16.9% return on equity justifies, blended with earnings, values the shares at $140.75; the price of $114.60 is 19% below that value.
Leak Score 62/100 on 9 of 12 signals
Book value at 2.50x, the multiple a 20.9% return on equity justifies, blended with earnings, values the shares at $205.28; the price of $169.43 is 17% below that value.
Leak Score 81/100 on 3 of 12 signals
| Metric | AFL | GL |
|---|---|---|
| Verdict | Slightly undervalued | Slightly undervalued |
| Price | $114.60 | $169.43 |
| Intrinsic value | $140.75 | $205.28 |
| Margin of safety | +19% | +17% |
| Leak Score | 62/100 (9/12) | 81/100 (3/12) |
| Market cap | $57.5B | $13.0B |
| Revenue growth, 5 years | -5.0% | 4.8% |
| Operating margin | 33.4% | 26.9% |
| Net margin | 26.9% | 19.6% |
| Return on equity | 16.9% | 20.9% |
| Debt to equity | 0.29 | 0.48 |
| P/E | 12.3x | 11.3x |
| Forward P/E | 15.2x | 10.3x |
| P/B | 1.9x | 2.1x |
| Dividend yield | 2.1% | 0.7% |