GLOBE LIFE INC.
$160.74
+0.63 (+0.39%) · delayed · Nov 13, 2026
Five-year price
52w $129.21 to $191.55
- Market cap
- $12.1B
- Enterprise value
- $14.6B
- P/E
- 11.4×
- 13.4× on 3y avg EPS
- EV / EBIT
- —
- FCF yield
- 10.3%
- ROIC
- —
- Debt / equity
- 0.44
- Piotroski F
- 6/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
100
- ●ROIC > 12% (5y avg)5y avg ROIC 20.6%
- ●ROE > 15% (5y avg)5y avg ROE 27.1%
- –Stable operating marginsMargin volatility n/a (σ, 5y)
- ●Earnings convert to cashFCF / net income 134% (5y avg)
- ●Growing revenueRevenue CAGR 5y 4.8%
- ●Shrinking share countDiluted shares -23.0% over 5y
Value
75
- ●P/E below 15P/E 11.4
- –EV/EBIT below 12EV/EBIT n/a
- ●FCF yield above 6%FCF yield 10.3%
- ○Price below Graham NumberGraham Number $158.34
- ●P/B below 3P/B 2.0
Safety
100
- ●Debt / equity below 0.5D/E 0.44
- ●Debt payable in < 4 yrs of earningsNet debt $2.5B
- –Interest coverage > 8xCoverage n/ax
- –Current ratio > 1.5Current ratio n/a
- ●Piotroski F-score ≥ 6F-score 6/9
Graham Defensive
83
- ●Adequate size (revenue > $2B)Revenue $6.0B
- –Strong condition (current ratio ≥ 2)Current ratio n/a
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 58%
- ●Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 13.4
- ○P/E × P/B ≤ 22.5Product 27.1
Valuation lab
What do you have to believe?
At $160.74, the market is pricing in about −1.6% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $2.5B · 75M shares · 5y revenue CAGR 4.8%
Intrinsic value
$283.56
Price
$160.74
Margin of safety
43%
What the price implies
The market is paying for −1.6% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
57% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,935 | 4,156 | 4,304 | 4,528 | 4,738 | 5,112 | 5,227 | 5,448 | 5,778 | 5,994 |
| Gross profit | 783 | 807 | 865 | 911 | 901 | 1,215 | 1,179 | 1,260 | — | — |
| Operating income | 787 | 821 | 871 | 920 | 905 | 1,227 | 1,186 | 1,265 | — | — |
| Operating margin | 20.0% | 19.8% | 20.2% | 20.3% | 19.1% | 24.0% | 22.7% | 23.2% | — | — |
| Pre-tax income | 772 | 831 | 864 | 931 | 897 | 1,275 | 1,102 | 1,194 | 1,327 | 1,436 |
| Income tax | 233 | (628) | 162 | 170 | 165 | 243 | 208 | 224 | 256 | 275 |
| Net income | 550 | 1,454 | 701 | 761 | 732 | 1,031 | 894 | 971 | 1,071 | 1,161 |
| EPS (diluted) | 4.49 | 12.22 | 6.09 | 6.83 | 6.82 | 9.99 | 9.04 | 10.07 | 11.94 | 14.07 |
| Diluted shares | 122 | 119 | 115 | 111 | 107 | 103 | 99 | 96 | 90 | 83 |
Who owns it