NYSE : GL
Globe Life Inc. — Financial statements
Financials · Insurance - Life · United States
Last price 160.45 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 12.33B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 5.12B | 4.89B | 4.67B | 4.46B | 4.31B | 4.09B |
| Total Interest & Dividend Income | 1.16B | 1.13B | 1.14B | 1.06B | 991.80M | 956.69M |
| Gain (Loss) on Sale of Investments | -11.26M | -27.79M | -24.19M | -65.68M | -76.55M | 59.32M |
| Other Revenue | 4.17M | 1.69M | 354.00K | 308.00K | 1.25M | 1.22M |
| Total Revenue | 6.27B | 5.99B | 5.78B | 5.45B | 5.23B | 5.11B |
| Policy Benefits | 3.04B | 2.88B | 2.89B | 2.86B | 2.83B | 2.66B |
| Policy Acquisition & Underwriting Costs | 1.16B | 1.08B | 995.05M | 919.67M | 845.45M | 762.87M |
| Selling, General & Administrative | 7.10M | 7.10M | 15.70M | 19.20M | 9.40M | 10.00M |
| Other Operating Expenses | 396.62M | 371.96M | 357.45M | 316.20M | 315.81M | 283.62M |
| Total Operating Expenses | 4.66B | 4.40B | 4.30B | 4.15B | 4.03B | 3.75B |
| Operating Income | 1.62B | 1.59B | 1.48B | 1.30B | 1.20B | 1.37B |
| Interest Expense | -143.07M | -141.22M | -127.09M | -102.32M | -90.39M | -83.49M |
| EBT Excluding Unusual Items | 1.48B | 1.45B | 1.35B | 1.20B | 1.10B | 1.28B |
| Legal Settlements | -17.05M | -17.05M | -21.57M | -900.00K | -2.50M | -8.14M |
| Pretax Income | 1.46B | 1.44B | 1.33B | 1.19B | 1.10B | 1.27B |
| Income Tax Expense | 274.28M | 274.74M | 255.88M | 223.51M | 207.72M | 243.50M |
| Earnings From Continuing Ops. | 1.19B | 1.16B | 1.07B | 970.75M | 894.39M | 1.03B |
| Net Income | 1.19B | 1.16B | 1.07B | 970.75M | 894.39M | 1.03B |
| Net Income to Common | 1.19B | 1.16B | 1.07B | 970.75M | 894.39M | 1.03B |
| Shares Outstanding (Basic) | 77.98M | 81.38M | 89.28M | 95.10M | 97.93M | 102.07M |
| Shares Outstanding (Diluted) | 79.43M | 82.52M | 89.66M | 96.36M | 98.98M | 103.17M |
| EPS (Basic) | 15.20 | 14.27 | 11.99 | 10.21 | 9.13 | 10.10 |
| EPS (Diluted) | 14.92 | 14.07 | 11.94 | 10.07 | 9.04 | 9.99 |
| Free Cash Flow | 1.25B | 1.33B | 1.43B | 1.39B | 1.40B | |
| Free Cash Flow Per Share | 15.19 | 14.85 | 14.87 | 14.09 | 13.56 | |
| Dividend Per Share | 0.27 | 1.08 | 0.96 | 0.90 | 0.83 | 0.79 |
| Operating Margin | 25.81% | 26.60% | 25.53% | 23.82% | 22.86% | 26.73% |
| Profit Margin | 18.89% | 19.37% | 18.53% | 17.82% | 17.11% | 20.17% |
| Free Cash Flow Margin | 20.92% | 23.04% | 26.30% | 26.68% | 27.38% | |
| EBITDA | 1.65B | 1.62B | 1.50B | 1.32B | 1.22B | 1.39B |
| EBITDA Margin | 26.33% | 27.10% | 26.00% | 24.20% | 23.27% | 27.12% |
| D&A For EBITDA | 32.25M | 30.00M | 27.00M | 21.00M | 21.00M | 20.00M |
| EBIT | 1.62B | 1.59B | 1.48B | 1.30B | 1.20B | 1.37B |
| EBIT Margin | 25.81% | 26.60% | 25.53% | 23.82% | 22.86% | 26.73% |
| Effective Tax Rate | 18.79% | 19.13% | 19.29% | 18.71% | 18.85% | 19.10% |
| Revenue as Reported | 6.27B | 5.99B | 5.78B | 5.45B | 5.23B | 5.11B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 17.59B | 17.16B | 17.87B | 16.50B | 21.31B | |
| Investments in Equity & Preferred Securities | 971.64M | 690.62M | 651.27M | 652.28M | 544.49M | |
| Policy Loans | 741.38M | 699.67M | 657.02M | 614.87M | 589.63M | |
| Other Investments | 357.33M | 131.29M | 122.03M | 140.14M | 80.96M | |
| Total Investments | 20.70B | 19.64B | 19.99B | 18.52B | 23.09B | |
| Cash & Equivalents | 144.70M | 165.32M | 103.16M | 92.56M | 92.16M | |
| Other Receivables | 1.04B | 961.70M | 900.62M | 848.75M | 738.75M | |
| Deferred Policy Acquisition Cost | 7.00B | 6.50B | 6.01B | 5.54B | 4.91B | |
| Property, Plant & Equipment | 370.00M | 285.00M | 240.00M | 212.00M | 205.00M | |
| Goodwill | 490.45M | 490.45M | 481.79M | 481.79M | 481.79M | |
| Other Long-Term Assets | 1.07B | 1.04B | 325.41M | 292.63M | 249.62M | |
| Total Assets | 30.81B | 29.08B | 28.05B | 25.99B | 29.77B | |
| Insurance & Annuity Liabilities | 19.26B | 18.55B | 19.56B | 18.20B | 16.13B | |
| Unpaid Claims | 540.83M | 532.83M | 514.88M | 509.36M | 412.94M | |
| Unearned Premiums | 270.66M | 257.63M | 254.57M | 253.36M | 65.47M | |
| Current Portion of Long-Term Debt | 169.55M | 165.50M | 149.75M | |||
| Current Portion of Leases | 6.96M | |||||
| Short-Term Debt | 304.66M | 415.40M | 316.56M | 283.60M | 329.89M | |
| Current Income Taxes Payable | 859.63M | 731.25M | 494.64M | 434.65M | 1.77B | |
| Long-Term Debt | 2.76B | 2.70B | 1.77B | 1.65B | 1.55B | |
| Long-Term Leases | 58.41M | |||||
| Other Long-Term Liabilities | 775.43M | 583.42M | 487.63M | 542.22M | 722.01M | |
| Total Liabilities | 24.84B | 23.77B | 23.56B | 22.04B | 21.13B | |
| Common Stock | 92.22M | 97.22M | 102.22M | 105.22M | 109.22M | |
| Additional Paid-In Capital | 536.36M | 527.79M | 532.47M | 529.66M | 520.56M | |
| Retained Earnings | 8.55B | 8.00B | 7.48B | 6.89B | 6.18B | |
| Treasury Stock | -1.43B | -1.29B | -854.28M | -789.52M | -846.66M | |
| Comprehensive Income & Other | -1.77B | -2.03B | -2.77B | -2.79B | 2.68B | |
| Shareholders' Equity | 6.16B | 5.97B | 5.31B | 4.49B | 3.95B | 8.64B |
| Total Liabilities & Equity | 30.81B | 29.08B | 28.05B | 25.99B | 29.77B | |
| Filing Date Shares Outstanding | 76.67M | 78.64M | 83.85M | 93.71M | 96.50M | 99.34M |
| Total Common Shares Outstanding | 76.67M | 79.09M | 83.98M | 93.79M | 96.74M | 99.57M |
| Total Debt | 3.43B | 3.13B | 3.11B | 2.25B | 2.10B | 2.03B |
| Net Cash (Debt) | -3.17B | -2.98B | -2.95B | -2.15B | -2.01B | -1.93B |
| Net Cash Per Share | -39.91 | -36.15 | -32.86 | -22.32 | -20.28 | -18.75 |
| Book Value Per Share | 79.89 | 75.54 | 63.18 | 47.84 | 40.83 | 86.80 |
| Tangible Book Value | 5.67B | 5.48B | 4.82B | 4.01B | 3.47B | 8.16B |
| Tangible Book Value Per Share | 73.52 | 69.34 | 57.34 | 42.70 | 35.85 | 81.96 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.16B | 1.07B | 970.75M | 894.39M | 1.03B | |
| Depreciation & Amortization | 30.00M | 27.00M | 21.00M | 21.00M | 20.00M | |
| Other Amortization | 447.76M | 410.00M | 379.70M | 348.82M | 317.62M | |
| Gain (Loss) on Sale of Investments | 27.79M | 24.19M | 65.68M | 76.55M | -68.63M | |
| Change in Income Taxes | 98.89M | 77.93M | 101.45M | 91.83M | 147.99M | |
| Change in Insurance Reserves / Liabilities | 603.26M | 750.68M | 839.81M | 795.06M | 677.43M | |
| Other Operating Activities | -972.54M | -958.13M | -895.97M | -805.46M | -687.84M | |
| Operating Cash Flow | 1.40B | 1.40B | 1.48B | 1.42B | 1.44B | |
| Capital Expenditures | -142.48M | -71.05M | -49.55M | -27.93M | -38.24M | |
| Investment in Securities | -385.33M | -407.41M | -719.62M | -845.45M | -834.17M | |
| Other Investing Activities | 96.00K | -56.70M | ||||
| Investing Cash Flow | -643.62M | -641.52M | -926.15M | -943.01M | -913.37M | |
| Short-Term Debt Issued | 590.25M | 484.73M | 32.96M | 74.97M | ||
| Long-Term Debt Issued | 530.00M | 170.00M | 250.49M | 325.00M | ||
| Total Debt Issued | 590.25M | 1.01B | 202.96M | 250.49M | 399.97M | |
| Total Debt Repaid | -700.99M | -385.89M | -165.61M | -196.29M | -300.00M | |
| Net Debt Issued (Repaid) | -110.75M | 628.84M | 37.35M | 54.20M | 99.97M | |
| Issuance of Common Stock | 164.45M | 51.79M | 114.08M | 106.59M | 69.83M | |
| Repurchases of Common Stock | -880.98M | -1.00B | -511.10M | -454.64M | -541.43M | |
| Common Dividends Paid | -86.07M | -85.48M | -84.12M | -80.55M | -80.04M | |
| Other Financing Activities | -6.40M | -421.03M | -757.00K | -5.27M | -7.69M | |
| Financing Cash Flow | -768.05M | -715.84M | -541.49M | -492.45M | -523.60M | |
| Foreign Exchange Rate Adjustments | -5.34M | 17.08M | -4.19M | 13.67M | -3.39M | |
| Net Cash Flow | -20.62M | 62.17M | 10.60M | 396.00K | -2.68M | |
| Free Cash Flow | 1.25B | 1.33B | 1.43B | 1.39B | 1.40B | |
| Free Cash Flow Margin | 20.92% | 23.04% | 26.30% | 26.68% | 27.38% | |
| Free Cash Flow Per Share | 15.19 | 14.85 | 14.87 | 14.09 | 13.56 | |
| Levered Free Cash Flow | 1.14B | 1.44B | 1.18B | -133.12M | 1.10B | |
| Unlevered Free Cash Flow | 1.23B | 1.52B | 1.24B | -76.62M | 1.16B | |
| Cash Interest Paid | 144.68M | 116.99M | 99.55M | 88.81M | 83.07M | |
| Cash Income Tax Paid | 175.91M | 175.40M | 121.03M | 114.89M | 96.22M | |
| Change in Working Capital | 702.15M | 828.62M | 941.26M | 886.90M | 825.42M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 12.30B | 11.13B | 9.36B | 11.46B | 11.73B | 9.46B |
| Enterprise Value | 15.47B | 13.97B | 12.36B | 13.62B | 13.70B | 11.31B |
| PE Ratio | 10.73 | 9.59 | 8.74 | 11.80 | 13.11 | 9.18 |
| PS Ratio | 1.95 | 1.86 | 1.62 | 2.10 | 2.24 | 1.85 |
| PB Ratio | 1.99 | 1.86 | 1.76 | 2.55 | 2.97 | 1.09 |
| P/FCF Ratio | 9.92 | 8.88 | 7.03 | 8.00 | 8.41 | 6.76 |
| P/OCF Ratio | 8.79 | 7.97 | 6.67 | 7.73 | 8.24 | 6.58 |
| EV/Sales Ratio | 2.45 | 2.33 | 2.14 | 2.50 | 2.62 | 2.21 |
| EV/EBITDA Ratio | 9.32 | 8.60 | 8.23 | 10.33 | 11.27 | 8.16 |
| EV/EBIT Ratio | 9.50 | 8.76 | 8.38 | 10.49 | 11.47 | 8.28 |
| EV/FCF Ratio | 12.49 | 11.14 | 9.28 | 9.50 | 9.83 | 8.08 |
| Debt / Equity Ratio | 0.56 | 0.52 | 0.59 | 0.50 | 0.53 | 0.23 |
| Debt / EBITDA Ratio | 2.07 | 1.92 | 2.07 | 1.71 | 1.73 | 1.46 |
| Debt / FCF Ratio | 2.49 | 2.34 | 1.57 | 1.51 | 1.45 | |
| Net Debt / Equity Ratio | 0.52 | 0.50 | 0.56 | 0.48 | 0.51 | 0.22 |
| Net Debt / EBITDA Ratio | 1.92 | 1.84 | 1.96 | 1.63 | 1.65 | 1.40 |
| Net Debt / FCF Ratio | 2.38 | 2.21 | 1.50 | 1.44 | 1.38 | |
| Quick Ratio | 0.62 | 0.49 | 0.47 | 0.48 | 0.24 | |
| Current Ratio | 0.76 | 0.63 | 0.62 | 0.64 | 0.33 | |
| Asset Turnover | 0.20 | 0.20 | 0.20 | 0.19 | 0.17 | |
| Return on Equity (ROE) | 20.59% | 21.87% | 23.01% | 14.21% | 11.84% | |
| Return on Assets (ROA) | 3.33% | 3.23% | 3.00% | 2.68% | 2.90% | |
| Return on Invested Capital (ROIC) | 13.73% | 14.72% | 15.71% | 16.49% | 11.60% | 10.35% |
| Earnings Yield | 9.32% | 10.43% | 11.44% | 8.47% | 7.63% | 10.90% |
| FCF Yield | 10.08% | 11.26% | 14.22% | 12.51% | 11.89% | 14.79% |
| Dividend Yield | 0.83% | 0.77% | 0.86% | 0.74% | 0.69% | 0.83% |
| Payout Ratio | 8.44% | 7.41% | 7.98% | 8.67% | 9.01% | 7.76% |
| Buyback Yield / Dilution | 4.87% | 7.96% | 6.96% | 2.65% | 4.06% | 3.78% |
| Total Shareholder Return | 5.70% | 8.73% | 7.82% | 3.38% | 4.74% | 4.61% |