NYSE: GL
Globe Life
Financials · Life Insurance
52-week range
$127.85$191.55
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$13.7B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $8.69B |
| FY2017, ended Dec 31, 2017 | $10.3B |
| FY2018, ended Dec 31, 2018 | $8.22B |
| FY2019, ended Dec 31, 2019 | $11.3B |
| FY2020, ended Dec 31, 2020 | $9.81B |
| FY2021, ended Dec 31, 2021 | $9.31B |
| FY2022, ended Dec 31, 2022 | $11.6B |
| FY2023, ended Dec 31, 2023 | $11.4B |
| FY2024, ended Dec 31, 2024 | $9.35B |
| FY2025, ended Dec 31, 2025 | $11.0B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $13.7B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$6.19B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $3.93B |
| FY2017, ended Dec 31, 2017 | $4.16B |
| FY2018, ended Dec 31, 2018 | $4.30B |
| FY2019, ended Dec 31, 2019 | $4.53B |
| FY2020, ended Dec 31, 2020 | $4.74B |
| FY2021, ended Dec 31, 2021 | $5.11B |
| FY2022, ended Dec 31, 2022 | $5.23B |
| FY2023, ended Dec 31, 2023 | $5.45B |
| FY2024, ended Dec 31, 2024 | $5.78B |
| FY2025, ended Dec 31, 2025 | $5.99B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $6.19B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $550M | $1.37B |
| FY2017, ended Dec 31, 2017 | $1.45B | $1.41B |
| FY2018, ended Dec 31, 2018 | $701M | $1.23B |
| FY2019, ended Dec 31, 2019 | $761M | $1.32B |
| FY2020, ended Dec 31, 2020 | $732M | $1.43B |
| FY2021, ended Dec 31, 2021 | $1.03B | $1.40B |
| FY2022, ended Dec 31, 2022 | $894M | $1.39B |
| FY2023, ended Dec 31, 2023 | $971M | $1.43B |
| FY2024, ended Dec 31, 2024 | $1.07B | $1.33B |
| FY2025, ended Dec 31, 2025 | $1.16B | $1.25B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.21B | $1.23B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$257M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $76.2M |
| FY2017, ended Dec 31, 2017 | $119M |
| FY2018, ended Dec 31, 2018 | $121M |
| FY2019, ended Dec 31, 2019 | $75.9M |
| FY2020, ended Dec 31, 2020 | $94.8M |
| FY2021, ended Dec 31, 2021 | $92.2M |
| FY2022, ended Dec 31, 2022 | $92.6M |
| FY2023, ended Dec 31, 2023 | $103M |
| FY2024, ended Dec 31, 2024 | $165M |
| FY2025, ended Dec 31, 2025 | $145M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $257M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$2.94B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $1.40B |
| FY2017, ended Dec 31, 2017 | $1.46B |
| FY2018, ended Dec 31, 2018 | $1.67B |
| FY2019, ended Dec 31, 2019 | $1.66B |
| FY2020, ended Dec 31, 2020 | $1.92B |
| FY2021, ended Dec 31, 2021 | $2.18B |
| FY2022, ended Dec 31, 2022 | $2.24B |
| FY2023, ended Dec 31, 2023 | $2.12B |
| FY2024, ended Dec 31, 2024 | $2.74B |
| FY2025, ended Dec 31, 2025 | $2.63B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $2.94B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 34.7% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.76.8M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 118M |
| FY2017, ended Dec 31, 2017 | 114M |
| FY2018, ended Dec 31, 2018 | 110M |
| FY2019, ended Dec 31, 2019 | 108M |
| FY2020, ended Dec 31, 2020 | 103M |
| FY2021, ended Dec 31, 2021 | 99.3M |
| FY2022, ended Dec 31, 2022 | 96.5M |
| FY2023, ended Dec 31, 2023 | 93.7M |
| FY2024, ended Dec 31, 2024 | 83.8M |
| FY2025, ended Dec 31, 2025 | 78.6M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 76.8M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $643M more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $405M | $26.3M | $61.3M |
| FY2017, ended Dec 31, 2017 | $413M | $37.0M | $61.2M |
| FY2018, ended Dec 31, 2018 | $422M | $39.8M | $36.1M |
| FY2019, ended Dec 31, 2019 | $460M | $44.8M | $83.2M |
| FY2020, ended Dec 31, 2020 | $444M | $35.9M | $48.1M |
| FY2021, ended Dec 31, 2021 | $541M | $30.3M | $69.8M |
| FY2022, ended Dec 31, 2022 | $455M | $35.6M | $107M |
| FY2023, ended Dec 31, 2023 | $511M | $30.7M | $114M |
| FY2024, ended Dec 31, 2024 | $1.00B | $40.1M | $51.8M |
| FY2025, ended Dec 31, 2025 | $881M | $53.4M | $164M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $881M | $57.9M | $180M |
Revenue (TTM)
$6.19B
+5.2% YoY
Net income (TTM)
$1.21B
+13.8% YoY
Cash
$257M
+7.5% YoY
Total debt
$2.94B
+5.5% YoY
Valuation
At current price- Market Cap
- $12.2B
- P/E
- 10.1×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.0×
- Price / Book
- 2.0×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $6.19B
- Revenue Growth YoY
- 5.2%
- Revenue CAGR 3Y
- 4.7%
- Revenue CAGR 5Y
- 4.8%
- EPS Growth YoY
- 20.3%
- Net Income Growth YoY
- 13.8%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- —
- Net Margin
- 19.6%
- FCF Margin
- 19.9%
- Return on Equity
- 20.9%
Earnings
Trailing 12 months- Net Income
- $1.21B
- EPS (diluted)
- $15.04
- EBITDA
- —. Operating income + depreciation & amortization
- Operating Income
- —
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $257M
- Total Debt
- $2.94B
- Net Debt
- $2.69B
- Total Assets
- $31.6B
- Total Liabilities
- $25.4B
- Shareholders' Equity
- $6.16B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.39B
- Capital Expenditure
- $159M
- Free Cash Flow
- $1.23B
Dividends and risk
Last 12 months- Dividend Yield
- 0.8%
- Dividend / Share
- $1.26
- Beta (5Y)
- 0.44
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 5.2% year over year, at $6.19B.
Note
Net margin of 19.6% over the last 12 months.
Strength
Turns 19.9% of revenue into free cash flow.
Strength
Share count is down 5.1% in a year, from buybacks.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 25, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K59Nothing notable
59Nothing notable
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 26, 2025 · Read the filing on EDGAR
- Net income rose 10% to $1.07 billion and total premium rose 5% to $4.67 billion, helped by a large gain from updated life insurance assumptions.
- New this year: short seller reports since April 2024, a securities class action, federal subpoenas over agent sales practices, and an EEOC finding on agent status.
- Net sales rose 9% to $840 million and American Income agents grew 11%, though Direct to Consumer sales fell 9%.
- Share buybacks more than doubled to $946 million, while long-term debt rose from $1.6 billion to $2.3 billion.
Business momentum
Improving
“Net income increased 10% to $1.07 billion in 2024, compared with $971 million in 2023.”
Outlook
Positive
“Dividends from subsidiaries and excess cash flows are projected to be higher in 2025 than in 2024 primarily due to improved earnings from favorable mortality trends and growth in business”
Financial stress
Low
“Our strong cash flows from operations, ongoing investment maturities, and available liquidity under our credit facility make any need to sell securities for liquidity highly unlikely.”
Tone against the previous report
About the same
Red flags
- Medium
Investigation
“In September 2024, the Equal Employment Opportunity Commission (EEOC) notified us that it had determined that all sales agents affiliated with State General Agent Simon Arias were employees, not independent contractors, of Globe Life Inc. and/or AIL.”
- Medium
Investigation
“subpoenas from U.S. Attorney’s Office for the Western District of Pennsylvania seeking documents related to sales practices by certain of our independent sales agents contracted to sell American Income Life Insurance Company policies”
- Medium
Major lawsuit
“As of the date of this Report, one putative securities class action has been filed against Globe Life Inc. and we expect that other putative class action claims may be filed as well.”
Positives
Sales and agent growth
“Total net sales increased 9% over the same period in the prior year from $768 million in 2023 to $840 million in 2024.”
Higher life insurance profit
“Underwriting margin increased to $1.35 billion in 2024, compared to $1.19 billion in 2023.”
Investment profit up sharply
“Excess investment income, the measure of profitability of our investment segment, increased 26% during the year ended 2024 to $164.4 million from $130.4 million in 2023.”
Concerns
Life profit growth leaned partly on assumption changes
“This was primarily a result of increased premiums and favorable policy obligations as a percent of premium due to a remeasurement gain resulting from the assumption updates in 2024.”
Health insurance profit slipped as claims rose
“In 2024, underwriting margin in the health segment decreased to $372 million due to higher claim utilization, compared with $378 million in 2023 and $377 million in 2022.”
Administrative costs rose faster than premium, including legal costs
“Insurance administrative expenses increased $41.3 million primarily due to higher information technology costs, legal costs including compliance and security and employee costs, which includes salaries and other.”
New risks since the previous report
Short seller attacks on the company and its stock price
“Since April 2024, we have been and continue to be the target of several short sellers who have published reports making allegations about the Company, which resulted in a significant decline in the price of our common stock.”
Bad publicity making it harder to recruit and keep agents
“Negative publicity through traditional media, internet, social media, and other public forums, including short seller reports and allegations of independent agent misconduct could damage our brand or reputation”
Legal and regulatory harm from misconduct by independent sales agents
“Misconduct of our independent sales agents could result in violations of law by, or claims against, us or our subsidiaries.”
Reliance on Federal Home Loan Bank funding
“We are subject to liquidity risks associated with sourcing a concentration of our funding from the Federal Home Loan Bank”
Biggest risks named
- Agents being reclassified as employees, plus agent recruiting and retention
- Federal investigations, short seller allegations and securities lawsuits damaging reputation
- Bond defaults, downgrades and interest rate changes reducing income and capital
- Claims and policy lapses differing from actuarial assumptions
- Dependence on insurance subsidiaries' regulated dividends for parent company cash
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −8.4 | |
| New risks | −2 | |
| Score | 59 | |
Written by AI (Claude Opus 5.5) from the report’s text. 16 of 16 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 25, 2026 | Pro | |||
| 10-K | Feb 26, 2025 | 59 | Improving | 3 medium | |
| 10-K | Feb 28, 2024 | 68 | Improving | None | |
| 10-K | Feb 23, 2023 | 69 | Improving | None | |
| 10-K | Feb 24, 2022 | 58 | Mixed | None | |
| 10-K | Feb 25, 2021 | 57 | Mixed | None | |
| 10-K | Feb 27, 2020 | 68 | Improving | None | |
| 10-K | Mar 1, 2019 | 68 | Improving | None | |
| 10-K | Feb 27, 2018 | 67 | Improving | None | |
| 10-K | Feb 27, 2017 | 66 | Improving | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Aug 5, 2026. View filings on SEC EDGAR