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Globe Life

GL NYSE Life & Health Insurance Financials FY2016–FY2025

Globe Life's revenue rose 3.7% to $6.0 billion in fiscal 2025. Its net margin was 19.4%, up from 18.5% a year earlier. Free cash flow was $1.3 billion, down 5.8%. It paid out $967 million in dividends and buybacks, 77% of free cash flow. The diluted share count fell 8.0%.

Last close · Oct 23, 2026

$154.79

8.1%
Value it Compare
Revenue Total sales reported in the income statement.
$6.0B
3.7% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$1.2B
8.4%
Free cash flow Cash from operations minus capital spending.
$1.3B
5.8%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
16.0%
0.5 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$12.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
10.3x
On $15.07 EPS (TTM)

What Globe Life does

No business description yet.

Legal name
GLOBE LIFE INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000320335-26-000090
0000320335

Revenue and margins

Globe Life had $6.0B of revenue in fiscal 2025, up 3.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 13.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.3B in fiscal 2025, 20.9% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Globe Life returned $967M to shareholders in fiscal 2025, 77% of free cash flow. The diluted share count fell 8.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Globe Life yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$2.2B and divides by 82.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 10.3x · peers 14.7x · sector 13.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Globe Life can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $161M$207M$185M$250M$459M
Debt incl. finance leases $2.2B$2.2B$2.1B$2.7B$2.6B
Net debt / EBITDA 1.6x1.7x1.5x1.7x1.4x
Debt / equity 1.1x0.6x0.5x0.5x0.4x
Interest coverage 14.7x13.1x12.4x11.4x11.2x
Total assets $29.8B$26.0B$28.1B$29.1B$30.8B
Total liabilities $21.1B$22.0B$23.6B$23.8B$24.8B
Shareholders' equity $2.0B$3.9B$4.5B$5.3B$6.0B
Net debt (− = net cash) $2.0B$2.0B$1.9B$2.5B$2.2B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$36.2M

9 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 22, 2026 Robert Edward HensleyEVP & Chief Investment Officer Sold 10,000 $170.07 $1.7M Form 4
Aug 7, 2026 Robert Brian MitchellEVP, General Counsel and CRO Sold 23,000 $183.34 $4.2M Form 4
Jul 31, 2026 James Matthew DardenCo-Chairman & CEO, Director Sold 50,000 $182.44 $9.1M Form 4
Jul 30, 2026 Thomas Peter KalmbachEVP & CFO Sold 21,000 $180.06 $3.8M Form 4
Jul 29, 2026 Michael Clay MajorsEVP - Chief Strategy Officer Sold 37,000 $178.63 $6.6M Form 4
Jul 28, 2026 Thomas Peter KalmbachEVP & CFO Sold 25,650 $178.58 $4.6M Form 4
Jun 30, 2026 Dolores L SkarjuneEVP and Chief Admin. Officer Sold 1,850 $179.18 $0.3M Form 4
Jun 25, 2026 Cheryl AlstonDirector Sold 8,258 $179.24 $1.5M Form 4
Jun 18, 2026 Rebecca E ZornEVP & Chief Talent Officer Sold 2,000 $170.10 $0.3M Form 4
Jun 12, 2026 Dolores L SkarjuneEVP and Chief Admin. Officer Sold 4,175 $166.18 $0.7M Form 4
Jun 12, 2026 Frank M SvobodaCo-Chairman & CEO, Director Sold 10,000 $166.68 $1.7M Form 4
Jun 11, 2026 Frank M SvobodaCo-Chairman & CEO, Director Sold 10,000 $164.89 $1.6M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose — — —
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ — —
Revenue rose relative to assets ✓ ✕ ✓
F-score — / 9— / 9— / 9
Accruals ratio −1.9%−1.2%−0.8%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Globe Life GL $12.2B 3.7% — 20.9% 16.0% 10.3x —
Brighthouse Financial BHF $2.6B 43.2% — — — 3.6x — Compare →
CNO Financial Group CNO $5.1B 0.9% 12.3% — — 18.4x — Compare →
Primerica PRI $8.6B 6.6% — — 34.5% 11.0x — Compare →
Unum UNM $14.4B 1.5% — 4.3% 7.6% 21.0x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $3.9B $4.2B $4.3B $4.5B $4.7B $5.1B $5.2B $5.4B $5.8B $6.0B
Gross profit $783M $807M $866M $911M $901M $1.2B $1.2B $1.3B — —
Operating income $787M $821M $871M $920M $905M $1.2B $1.2B $1.3B — —
Interest expense $83.3M $84.5M $90.1M $84.3M $86.7M $83.5M $90.4M $102M $127M $141M
Pretax income $772M $831M $864M $931M $897M $1.3B $1.1B $1.2B $1.3B $1.4B
Income tax $233M −$628M $162M $170M $165M $244M $208M $224M $256M $275M
Net income $550M $1.5B $702M $761M $732M $1.0B $894M $971M $1.1B $1.2B
Diluted EPS $4.49 $12.22 $6.09 $6.83 $6.82 $9.99 $9.04 $10.07 $11.94 $14.07
Diluted shares 0.12B 0.12B 0.12B 0.11B 0.11B 0.10B 0.10B 0.10B 0.09B 0.08B
Cash flow
Cash from operations $1.4B $1.4B $1.3B $1.4B $1.5B $1.4B $1.4B $1.5B $1.4B $1.4B
Capital expenditure $25.2M $20.3M $45.1M $42.2M $41.8M $38.2M $27.9M $49.6M $71.0M $143M
Free cash flow $1.4B $1.4B $1.2B $1.3B $1.4B $1.4B $1.4B $1.4B $1.3B $1.3B
Depreciation and amortization $10.0M $11.0M $13.0M $16.0M $17.0M $20.0M $21.0M $21.0M $27.0M $30.0M
Stock-based compensation $26.3M $37.0M $39.8M $44.8M $35.9M $30.3M $35.6M $30.7M $40.1M $53.4M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $405M $413M $422M $460M $444M $541M $455M $511M $1.0B $881M
Dividends paid $66.9M $68.8M $71.4M $74.2M $78.2M $80.0M $80.5M $84.1M $85.5M $86.1M
Dividends and buybacks $472M $482M $493M $534M $522M $621M $535M $595M $1.1B $967M
Balance sheet
Cash and short-term investments $148M $246M $184M $114M $203M $161M $207M $185M $250M $459M
Total debt $1.4B $1.5B $1.7B $1.7B $1.9B $2.2B $2.2B $2.1B $2.7B $2.6B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net — — — — — — $212M $240M $284M $370M
Total assets $21.4B $23.5B $23.1B $26.0B $29.0B $29.8B $26.0B $28.1B $29.1B $30.8B
Total liabilities $16.9B $17.2B $17.7B $18.7B $20.3B $21.1B $22.0B $23.6B $23.8B $24.8B
Shareholders' equity $4.6B $6.2B $5.4B $7.3B $8.8B $2.0B $3.9B $4.5B $5.3B $6.0B
Margins
Gross margin 19.9% 19.4% 20.1% 20.1% 19.0% 23.8% 22.6% 23.1% — —
Operating margin 20.0% 19.8% 20.2% 20.3% 19.1% 24.0% 22.7% 23.2% — —
EBITDA margin 20.3% 20.0% 20.5% 20.7% 19.5% 24.4% 23.1% 23.6% 25.6% 26.8%
Net margin 14.0% 35.0% 16.3% 16.8% 15.5% 20.2% 17.1% 17.8% 18.5% 19.4%
FCF margin 34.9% 33.9% 28.6% 29.2% 30.3% 27.4% 26.7% 26.3% 23.0% 20.9%
Returns
Return on capital 10.0% 12.4% 9.9% 9.6% 7.7% 13.7% 19.3% 16.6% 16.5% 16.0%
Return on equity 12.8% 26.9% 12.1% 12.0% 9.1% 19.1% 30.1% 23.0% 21.9% 20.6%
Return on assets 2.7% 6.5% 3.0% 3.1% 2.7% 3.5% 3.2% 3.6% 3.8% 3.9%
Growth
Revenue growth 4.5% 5.6% 3.6% 5.2% 4.7% 7.9% 2.2% 4.2% 6.1% 3.7%
Net income growth 4.3% 164.6% −51.8% 8.5% −3.8% 40.9% −13.3% 8.5% 10.3% 8.5%
EPS growth 7.9% 172.2% −50.2% 12.2% −0.2% 46.5% −9.5% 11.4% 18.6% 17.8%
FCF growth 26.8% 2.6% −12.5% 7.2% 8.6% −2.5% −0.4% 2.8% −7.1% −5.8%
Share count change −3.5% −2.8% −3.1% −3.4% −3.7% −3.8% −4.1% −2.7% −7.0% −8.0%
Financial health
Net debt / EBITDA 1.6x 1.5x 1.7x 1.7x 1.9x 1.6x 1.7x 1.5x 1.7x 1.4x
Debt / equity 0.3x 0.2x 0.3x 0.2x 0.2x 1.1x 0.6x 0.5x 0.5x 0.4x
Interest coverage 9.5x 9.7x 9.7x 10.9x 10.4x 14.7x 13.1x 12.4x 11.4x 11.2x
Capital allocation
Capex / revenue 0.6% 0.5% 1.1% 0.9% 0.9% 0.8% 0.5% 0.9% 1.2% 2.4%
Stock comp / revenue 0.7% 0.9% 0.9% 1.0% 0.8% 0.6% 0.7% 0.6% 0.7% 0.9%
Payouts / FCF 34.3% 34.2% 40.0% 40.4% 36.4% 44.4% 38.4% 41.5% 81.7% 77.1%
Quality scores
Accruals ratio −4.1% 0.1% −2.5% −2.5% −2.7% −1.4% −1.9% −1.9% −1.2% −0.8%

Source: SEC EDGAR XBRL filings (CIK 0000320335). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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