Globe Life Inc.

GL · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$11,134	$9,362	$11,456	$11,726	$9,464	$9,589	$10,628	$8,400	$10,551	$8,858	$7,150	$7,081	–	–	–	–	–	–	–	–	–	–	–	$4,392	$4,857	$4,916	$3,737	$4,734	$5,062	$3,107	$2,797	$2,155	$2,854	$3,609	$2,549	$2,186	$2,579	$1,526	$1,432	$1,624	$1,342
Enterprise value	$13,300	$11,851	$13,387	$13,596	$11,329	$11,309	$12,162	$9,880	$11,766	$10,107	$8,268	$8,230	–	–	–	–	–	–	–	–	–	–	–	$5,210	$5,604	$5,669	$4,605	$5,585	$6,018	$4,030	$3,886	$3,087	$3,754	$4,472	$3,299	$2,775	$3,255	$2,024	$1,732	$1,776	$1,506
P/E (TTM) at period end	9.59×	8.74×	11.80×	13.11×	9.18×	13.10×	13.97×	11.97×	7.25×	16.11×	13.57×	13.04×	–	–	–	–	–	–	–	–	–	–	–	11.34×	13.62×	13.58×	13.64×	19.37×	14.56×	9.98×	19.53×	8.01×	9.58×	13.59×	10.34×	9.54×	12.21×	8.48×	7.14×	7.92×	8.13×
P/S (TTM) at period end	1.86×	1.62×	2.10×	2.24×	1.85×	2.02×	2.35×	1.95×	2.54×	2.25×	1.90×	1.96×	–	–	–	–	–	–	–	–	–	–	–	1.59×	1.79×	1.95×	1.68×	2.19×	2.44×	1.41×	1.35×	1.12×	1.31×	1.76×	1.32×	1.22×	1.58×	0.92×	0.90×	1.04×	0.98×
P/B at period end	1.86×	1.76×	2.55×	2.97×	4.72×	1.09×	1.46×	1.55×	1.69×	1.94×	1.76×	1.51×	–	–	–	–	–	–	–	–	–	–	–	1.54×	1.95×	2.23×	1.87×	2.10×	2.62×	1.91×	1.76×	1.73×	2.01×	3.24×	2.36×	2.32×	2.88×	1.89×	1.55×	1.78×	1.39×
EV / EBITDA (TTM)	8.28×	8.00×	10.41×	11.26×	9.08×	12.26×	12.99×	11.18×	14.14×	12.68×	10.54×	10.56×	–	–	–	–	–	–	–	–	–	–	–	5.84×	9.23×	9.90×	11.20×	12.28×	7.78×	7.99×	8.88×	4.71×	1.90×	6.14×	4.70×	4.35×	5.60×	–	–	–	–
EV / Sales (TTM)	2.22×	2.05×	2.46×	2.60×	2.22×	2.39×	2.69×	2.30×	2.83×	2.57×	2.20×	2.27×	–	–	–	–	–	–	–	–	–	–	–	1.89×	2.07×	2.25×	2.07×	2.59×	2.91×	1.83×	1.88×	1.60×	1.72×	2.19×	1.71×	1.54×	1.99×	1.22×	1.09×	1.14×	1.10×
Returns
Return on equity	19.4%	20.2%	21.6%	22.6%	51.5%	8.3%	10.4%	13.0%	23.3%	12.0%	13.0%	11.6%	14.0%	12.1%	12.9%	14.1%	12.5%	23.6%	15.9%	15.0%	14.4%	13.7%	13.3%	13.6%	14.3%	16.4%	13.7%	10.8%	18.0%	19.1%	9.0%	21.6%	21.0%	23.8%	22.8%	24.3%	23.6%	22.3%	21.7%	22.4%	17.1%
Return on invested capital	15.1%	14.9%	15.8%	16.2%	25.2%	7.0%	8.5%	10.2%	10.8%	9.3%	10.0%	8.9%	10.2%	9.3%	10.5%	11.3%	11.3%	14.8%	12.5%	12.0%	10.9%	10.7%	10.5%	10.5%	11.7%	12.2%	9.1%	9.2%	16.8%	11.9%	9.8%	18.8%	54.1%	23.0%	24.5%	27.0%	24.1%	124.4%	127.4%	144.3%	119.7%
Dividend yield	0.8%	0.9%	0.7%	0.7%	0.8%	0.8%	0.7%	0.9%	0.7%	0.8%	0.9%	0.9%	–	–	–	–	–	–	–	–	–	–	–	1.0%	0.9%	0.9%	1.3%	1.7%	1.6%	2.7%	2.9%	3.8%	2.9%	2.3%	3.3%	3.7%	2.8%	–	–	–	–
Financial health
Current ratio	–	–	–	–	–	0.30×	0.34×	8.76×	0.37×	0.25×	0.27×	0.21×	0.27×	0.26×	0.24×	0.46×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Debt / equity	0.44×	0.52×	0.47×	0.53×	1.01×	0.22×	0.23×	0.31×	0.23×	0.31×	0.30×	0.26×	0.32×	0.30×	0.26×	0.27×	0.34×	0.47×	0.28×	0.26×	0.33×	0.30×	0.27×	0.26×	0.30×	0.32×	0.40×	0.33×	0.47×	0.51×	0.62×	0.84×	0.63×	0.69×	0.63×	0.56×	0.70×	0.62×	0.33×	0.17×	0.17×
Effective tax rate	19.1%	19.3%	18.7%	18.8%	19.1%	18.4%	18.3%	18.8%	(75.6%)	30.1%	32.6%	32.7%	32.8%	30.9%	31.2%	32.8%	33.0%	31.6%	33.8%	33.0%	32.3%	34.0%	34.1%	33.4%	34.2%	33.9%	33.4%	34.5%	33.9%	36.5%	36.8%	31.6%	35.4%	34.7%	33.7%	33.3%	33.2%	–	–	–	–
Share count
Diluted shares outstanding	83	90	96	99	103	107	111	115	119	122	127	133	140	147	165	185	187	199	216	227	238	252	259	271	280	289	292	305	313	322	322	322	331	329	345	350	352	391	457	488	478

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$6,275	$5,994	$5,778	$5,448	$5,227	$5,112	$4,738	$4,528	$4,304	$4,156	$3,935	$3,766	$3,620	$3,494	$3,590	$3,377	$3,368	$3,115	$3,196	$3,487	$3,421	$3,126	$3,072	$2,931	$2,761	$2,707	$2,519	$2,227	$2,158	$2,071	$2,206	$2,067	$1,931	$2,179	$2,047	$1,933	$1,796	$1,634	$1,665	$1,590	$1,555	$1,368
Cost of revenue	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($2,181)	($2,293)	($2,241)	($2,011)	($1,993)	($1,912)	($1,692)	($1,756)	($1,614)	($2,721)	($2,532)	($1,250)	($1,277)	($1,213)	($1,225)	($173)	($1,296)	($1,206)	($1,129)	($1,019)	–	–	–	–
Gross profit	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$1,015	$1,193	$1,180	$1,115	$1,079	$1,019	$1,069	$951	$904	($494)	($374)	$821	$929	$854	$706	$2,006	$751	$727	$668	$615	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($742)	($198)	($383)	($302)	($308)	($282)	($255)	($249)	($228)	($211)	($197)	($186)	($177)	($177)	($165)	($179)	($156)	($151)	($142)	($155)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total operating expenses	($3,978)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($387)	($396)	($407)	($383)	($358)	($366)	($479)	($349)	($339)	$896	$821	($55)	($434)	($426)	($76)	($67)	($56)	($50)	($46)	($48)	–	–	–	–
Total costs and expenses	($4,672)	($4,417)	($4,324)	($4,183)	($4,040)	($3,885)	($3,833)	($3,607)	($3,433)	($3,334)	($3,147)	($2,990)	($2,848)	($2,738)	($2,836)	($2,645)	($2,645)	($2,442)	($2,568)	($2,690)	($2,648)	($2,394)	($2,351)	($2,278)	($2,171)	($2,106)	($1,953)	($1,824)	($1,711)	($1,305)	($1,711)	($1,639)	($1,301)	($240)	($1,351)	($1,256)	($1,175)	($1,067)	($41)	($32)	($18)	($16)
Operating income	$1,603	$1,577	$1,454	$1,265	$1,186	$1,227	$905	$920	$871	$821	$787	$776	$772	$756	$754	$732	$722	$673	$628	$797	$774	$732	$721	$653	$590	$601	$566	$402	$447	$766	$495	$428	$630	$1,939	$695	$677	$622	$567	$1,624	$1,558	$1,538	$1,352
Earnings
EBITDA	–	$1,607	$1,481	$1,286	$1,207	$1,247	$922	$936	$884	$832	$797	$784	$779	$762	$761	$739	$728	$678	–	$1,188	$1,151	$1,081	$1,068	$658	$893	$607	$573	$411	$455	$774	$504	$438	$655	$1,974	$729	$702	$638	$581	–	–	–	–
Interest income	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($143)	($141)	($127)	($102)	($90)	($83)	($87)	($84)	($90)	($85)	($83)	($77)	($76)	($80)	($81)	($78)	($76)	($70)	($63)	($68)	($73)	($61)	($56)	($56)	($29)	($45)	($54)	($52)	($56)	($72)	($74)	($81)	($76)	($67)	($56)	($50)	($46)	($48)	($41)	($32)	($18)	($16)
Pre-tax income	$1,460	$1,436	$1,327	$1,194	$1,102	$1,275	$897	$931	$864	$831	$772	$766	$785	$755	$766	$724	$751	$544	$628	$797	$774	$732	$721	$653	$590	$601	$563	$402	$447	$409	$495	$428	$393	$433	$406	$372	$344	$316	–	–	–	–
Income tax expense	($274)	($275)	($256)	($224)	($208)	($243)	($165)	($170)	($162)	$628	($233)	($250)	($257)	($248)	($237)	($226)	($246)	($179)	($199)	($269)	($255)	($236)	($245)	($223)	($197)	($206)	($191)	($134)	($154)	($138)	($181)	($158)	($124)	($153)	($141)	($125)	($114)	($105)	($94)	($107)	($26)	($66)
Net income	$1,185	$1,161	$1,071	$971	$894	$1,031	$732	$761	$701	$1,454	$550	$527	$543	$528	$529	$497	$499	$383	$452	$528	$519	$495	$469	$430	$387	$357	$362	$274	$244	$348	$311	$143	$269	$298	$266	$246	$229	$211	$180	$200	$205	$165
Per share
Diluted EPS (GAAP)	–	$14.07	$11.94	$10.07	$9.04	$9.99	$6.82	$6.83	$6.09	$12.22	$4.49	$4.16	$4.09	$3.79	$3.60	$3.02	$2.70	$2.05	$2.27	$2.44	$2.28	$2.08	$1.86	$1.66	$1.41	$1.27	$1.25	$0.94	$0.80	$1.08	$0.97	$0.44	$0.83	$0.90	$0.81	$0.72	$0.66	$0.60	$0.46	$0.44	$0.42	$0.35
Basic EPS (GAAP)	$15.22	$14.27	$11.99	$10.21	$9.13	$10.10	$6.90	$6.97	$6.22	$12.50	$4.58	$4.21	$4.15	$3.84	$3.65	$3.06	$2.73	$2.05	$2.28	$2.48	$2.31	$2.10	$1.89	$1.67	$1.42	$1.28	$1.26	$0.95	$0.81	$1.08	$0.97	$0.44	$0.84	$0.90	$0.81	$0.72	$0.66	$0.60	$0.46	$0.44	$0.42	$0.35
Basic shares outstanding	79	81	89	95	98	102	106	109	113	116	120	125	131	138	145	162	183	187	198	212	224	236	247	258	270	278	288	289	302	313	321	322	322	331	329	345	350	352	391	457	488	478
Margins
Gross margin	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	31.8%	34.2%	34.5%	35.7%	35.1%	34.8%	38.7%	35.1%	35.9%	(22.2%)	(17.3%)	39.6%	42.1%	41.3%	36.6%	92.1%	36.7%	37.6%	37.2%	37.6%	–	–	–	–
Operating margin	25.5%	26.3%	25.2%	23.2%	22.7%	24.0%	19.1%	20.3%	20.2%	19.8%	20.0%	20.6%	21.3%	21.6%	21.0%	21.7%	21.5%	21.6%	19.7%	22.9%	22.6%	23.4%	23.5%	22.3%	21.4%	22.2%	22.5%	18.1%	20.7%	37.0%	22.4%	20.7%	32.6%	89.0%	34.0%	35.0%	34.6%	34.7%	97.5%	98.0%	98.9%	98.8%
Net margin	18.9%	19.4%	18.5%	17.8%	17.1%	20.2%	15.4%	16.8%	16.3%	35.0%	14.0%	14.0%	15.0%	15.1%	14.7%	14.7%	14.8%	12.3%	14.1%	15.1%	15.2%	15.8%	15.3%	14.7%	14.0%	13.2%	14.4%	12.3%	11.3%	16.8%	14.1%	6.9%	13.9%	13.7%	13.0%	12.8%	12.8%	12.9%	10.8%	12.6%	13.2%	12.1%

Analyst consensus

Hold28 analysts

Bearish · 7 · Hold · 11 · Bullish · 10

Earnings history

	EPS	Estimate
Q4 2024	$3.14	$3.12	Beat
Q1 2025	$3.07	$3.23	Miss
Q2 2025	$3.27	$3.25	Beat
Q3 2025	$4.81	$4.60	Beat
Q4 2025	$3.39	$3.44	Miss
Q1 2026	$3.43	$3.47	Miss
Q2 2026	$3.61	$3.67	Miss
Q3 2026	$4.84	$4.90	Miss

Peers

Company overview

IPO dateOct 1, 1980

CEOFrank Martin Svoboda

Employees3,695

SectorFinancial Services

IndustryInsurance - Life

CountryUS

ExchangeNew York Stock Exchange

Websitehome.globelifeinsurance.com

Globe Life Inc. delivers diverse life insurance and supplementary health coverage, alongside annuity products, targeting households in the lower-middle to middle-income brackets throughout the United States. The company's operations are structured into four key segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments. Its offerings encompass whole life, term life, and other life protection plans; supplemental health benefits like Medicare supplements, critical illness, and accident policies; and both single-premium and flexible-premium deferred annuities. Founded in 1979 and headquartered in McKinney, Texas, the enterprise rebranded from Torchmark Corporation to Globe Life Inc. in August 2019.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.