CNO Financial Group vs Globe Life
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The short version
- Globe Life is the larger business, with $6.0B of revenue in fiscal 2025 against $4.5B for CNO Financial Group.
- Globe Life grew revenue faster (3.7%, against 0.9%).
- Investors pay more for each dollar of CNO Financial Group’s earnings: a P/E of 18.4x against 10.3x for Globe Life.
| Latest fiscal year | CNO · FY25 | GL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.1B | $12.2B |
| Revenue | $4.5B | $6.0B |
| Free cash flow | — | $1.3B |
| Net income | $229M | $1.2B |
| Growth | ||
| Revenue growth | 0.9% | 3.7% |
| 5-year growth | 3.3% | 4.8% |
| Share count change | −7.7% | −8.0% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 12.3% | — |
| Net margin | 5.1% | 19.4% |
| FCF margin | — | 20.9% |
| Return on capital | — | 16.0% |
| Return on equity | 8.9% | 20.6% |
| Balance sheet | ||
| Net debt | — | $2.2B |
| Net debt / EBITDA | — | 1.4x |
| Dividends and buybacks | $398M | $967M |
| Valuation & quality | ||
| P/E | 18.4x | 10.3x |
| Piotroski F-score | — | — |
Revenue
FY16
CNO $4.0B
GL $3.9B
FY17
CNO $4.3B
GL $4.2B
FY18
CNO $4.3B
GL $4.3B
FY19
CNO $4.0B
GL $4.5B
FY20
CNO $3.8B
GL $4.7B
FY21
CNO $4.1B
GL $5.1B
FY22
CNO $3.6B
GL $5.2B
FY23
CNO $4.1B
GL $5.4B
FY24
CNO $4.4B
GL $5.8B
FY25
CNO $4.5B
GL $6.0B
CNO
GL
Operating margin
FY16
CNO —
GL 20.0%
FY17
CNO 10.6%
GL 19.8%
FY18
CNO 8.8%
GL 20.2%
FY19
CNO 9.2%
GL 20.3%
FY20
CNO 12.1%
GL 19.1%
FY21
CNO 12.5%
GL 24.0%
FY22
CNO 13.1%
GL 22.7%
FY23
CNO 11.1%
GL 23.2%
FY24
CNO 12.4%
GL —
FY25
CNO 12.3%
GL —
CNO
GL
Free cash flow
FY16
CNO —
GL $1.4B
FY17
CNO —
GL $1.4B
FY18
CNO —
GL $1.2B
FY19
CNO —
GL $1.3B
FY20
CNO —
GL $1.4B
FY21
CNO —
GL $1.4B
FY22
CNO —
GL $1.4B
FY23
CNO —
GL $1.4B
FY24
CNO —
GL $1.3B
FY25
CNO —
GL $1.3B
CNO
GL
Return on capital
FY16
CNO 10.4%
GL 10.0%
FY17
CNO 4.7%
GL 12.4%
FY18
CNO 7.0%
GL 9.9%
FY19
CNO —
GL 9.6%
FY20
CNO —
GL 7.7%
FY21
CNO —
GL 13.7%
FY22
CNO —
GL 19.3%
FY23
CNO —
GL 16.6%
FY24
CNO —
GL 16.5%
FY25
CNO —
GL 16.0%
CNO
GL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.