Globe Life Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever buys today bets that Globe Life's high return on capital more than justifies the controversy discount and that the class action ends without material damage — and pays only a good 8 to 9 times operating earnings for it, backed by growing book value and ongoing buybacks. Whoever waits may miss the cheapest entry but can check every quarterly report (10-Q) and the "Commitments and Contingencies" note for whether the case is progressing: clarity on the class action and no new government footnotes would be the evidence. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Globe Life is one of the most reliable profit machines in U.S. insurance: a 20.9 percent return on equity, growing book value, $685 million of share buybacks — and an earnings curve that did not bend even in 2024, the year of the short-seller episode. But its biggest risk sits not in the balance sheet, but in trust: from the April 2024 episode a securities class action is pending that survived dismissal in September 2025, and the allegations target the sales practices of tens of thousands of independent agents. Whoever invests here buys a first-rate compounder at a controversy price — and bets that a decentralized sales apparatus comes cleanly through the litigation. Not investment advice.
Profitability & compounding
A 20.9 percent return on equity (2025), net operating income per share up 17 percent to $14.52, premium up 5 percent to $4.89 billion — the earnings curve does not bend in any of the three years, not even in 2024, the year of the short-seller episode (annual report 10-K for 2025).
Capital return & book value
Book value per share up 19 percent to $74.17 (excluding AOCI $96.16), plus $685 million of buybacks in 2025 at an average of $126.41 — management concentrates earnings per share consistently, backed by $5.97 billion of equity.
Pending class action (April 2024)
From the April 2024 short-seller episode, one securities class action and five derivative suits are pending; the company's motion to dismiss was denied on September 29, 2025, and the size of any loss cannot be reasonably estimated per the report (10-K 2025, Note 5). The dispute is about the narrative around the numbers, not the numbers themselves.
Agent distribution & reputational risk
The engine is tens of thousands of independent agents whose sales practices are at the center of the allegations — a reputational and regulatory risk that is hard to quantify and steer. The 2024 report also named a DOJ subpoena and an SEC inquiry that no longer appear in the 2025 report (resolution likely, but not expressly confirmed).
Valuation
At the average 2025 repurchase price of $126.41, the market pays a good 8 to 9 times operating earnings and about 1.3 times AOCI-adjusted book value — low for a 16 to 21 percent return on capital. The discount is the price of the controversy, whose outcome no filing quantifies.
Worth Noting
GL reached our research list via the Joshua growth scanner (rank 20, as of July 17, 2026); unlike most hits, Globe Life is no growth sprinter but a capital compounder with a high return on equity.
Metrics such as net operating income and book value "excluding AOCI" are non-GAAP measures (defined by management). They are common and meaningful at insurers but are not a GAAP standard; net income ($1.16 billion in 2025) is the directly comparable GAAP figure.
The valuation anchor is the average 2025 repurchase price ($126.41), deliberately dated and evergreen; daily prices are not a buy argument. Globe Life's fiscal year matches the calendar year (ends December 31). Identity verified via EDGAR (CIK 0000320335, formerly Torchmark Corporation).
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at GL since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 130.40 $ to 186.00 $ · Last price: 172.30 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Insurance - Life
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Globe Life Inc GL | 13.4 | 12.1 | 0.0 | 33.9 | 23.8 | 3.8 | 21.6 |
| MetLife Inc MET | 62.3 | 19.2 | 0.0 | 24.0 | 9.9 | 8.6 | 27.0 |
| Aflac Incorporated AFL | 59.3 | 13.6 | 0.0 | 50.9 | 29.6 | -8.8 | 10.8 |
| Prudential Financial, Inc. PRU | 41.0 | 12.3 | 0.0 | 29.0 | 4.7 | -14.0 | 20.7 |
| Unum Group UNM | 15.4 | 20.6 | 0.0 | 29.3 | 10.6 | 2.1 | 30.4 |
| Jackson Financial Inc JXN | 9.0 | – | -5.7 | 48.8 | 44.6 | 116.1 | 38.0 |
| Primerica Inc PRI | 8.9 | 12.7 | 0.0 | 72.1 | 30.3 | 4.4 | 9.0 |
| Lincoln National Corporation LNC | 8.2 | 4.7 | 0.0 | 27.1 | -4.1 | 1.2 | 12.5 |
| CNO Financial Group Inc CNO | 5.2 | 22.2 | 0.0 | 38.7 | 9.7 | 0.9 | 44.6 |
| Median of companies shown | 13.4 | 13.2 | 0.0 | 33.9 | 10.6 | 2.1 | 21.6 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 3,935 | 772 | 550 | 4.49 | 1,399 | 4,567 | 21,436 |
| 2017 | 4,156 | 924 | 1,454 | 12.22 | 1,429 | 6,231 | 23,475 |
| 2018 | 4,304 | 954 | 701 | 6.08 | 1,278 | 5,415 | 23,096 |
| 2019 | 4,528 | 930 | 761 | 6.83 | 1,364 | 7,294 | 25,977 |
| 2020 | 4,738 | 895 | 732 | 6.82 | 1,476 | 8,771 | 29,047 |
| 2021 | 5,113 | 911 | 745 | 7.22 | 1,438 | 8,643 | 29,768 |
| 2022 | 5,215 | 997 | 740 | 7.47 | 1,422 | 3,950 | 25,987 |
| 2023 | 5,448 | 1,194 | 971 | 10.07 | 1,482 | 4,487 | 28,052 |
| 2024 | 5,778 | 1,327 | 1,071 | 12.63 | 1,402 | 5,306 | 29,076 |
| 2025 | 5,999 | 1,463 | 1,161 | 14.36 | 1,396 | 5,975 | 30,814 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 3.01 | 4.60 | 1,466 | 3.60 | 17.40 | 337 | 322 |
| 2025: Q1 | 3.01 | 12.70 | 1,480 | 4.50 | 17.20 | 432 | 420 |
| 2025: Q2 | 3.05 | 10.90 | 1,481 | 2.80 | 17.10 | 308 | 295 |
| 2025: Q3 | 4.73 | 37.50 | 1,513 | 4.00 | 25.60 | 306 | 209 |
| 2025: Q4 | 3.29 | 9.30 | 1,524 | 3.90 | 17.50 | 351 | 330 |
| 2026: Q1 | 3.39 | 12.50 | 1,560 | 5.30 | 17.30 | 421 | 396 |
| 2026: Q2 | 3.65 | 19.70 | 1,600 | 8.00 | 18.00 | 314 | 298 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 21 of our scanner strategies — each hit links to the scanner.
Growth
Quality & Balance Sheet
- Buffett Criteria (Buffettology)
- Buffett: Owner Earnings Yield
- Institutional Accumulation
- Levermann
- Pros 80%
- QARP — Quality at a Fair Price
- Terry Smith: Quality (Fundsmith Criteria)
Breakout & Setup
Momentum & Trend
- 21-EMA Trend
- Above the 50- & 200-SMA
- Mark Minervini: Trend Criteria — 1 Month
- Near 52-Week High
- Power Trend
- Stan Weinstein: Stage 2
- Strength on Stress Days
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 15.71 | 15.55 – 15.76 | 6,400 | 8.2% | 11 |
| 12/31/2027 | 16.52 | 16.03 – 16.85 | 6,818 | 5.1% | 11 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly -0.7% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $1.23B |
|---|---|
| Market cap | $13.40B |
| Free cash flow in year ten | $1.15B |
| Terminal value as a share of market value | 45.3% |
For comparison: over the past five years free cash flow shrank by 2.7% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Globe Life Inc. (NYSE: GL) ist ein Lebens- und Krankenzusatzversicherer ohne KI-Umsätze. Der Geschäftsbericht 10-K für 2025 nennt künstliche Intelligenz ausschließlich im Kontext der eigenen IT-Modernisierung („innovative, responsible, and secure use of artificial intelligence“) sowie als allgemeines operatives IT-Risiko. Das belegt einen internen, operativen KI-Einsatz, aber kein KI-Produkt und keine KI-Umsatzquelle. Vorrangprüfung: kein Verkauf von KI; der Risk-Factor-Hinweis auf „responsible use of emerging technologies, including artificial intelligence“ ist eine allgemeine Technik-/Betriebsrisiko-Floskel ohne konkreten Bezug auf eine Bedrohung des Versicherungs-Geschäftsmodells (kein „bedroht“). Erste zutreffende Kategorie nach Vorrang ‚Verkauft > Bedroht > Nutzt > Neutral‘ ist damit ‚Nutzt KI‘.
View the full file — quotes, sources, reviewed filings
„This modernization includes the innovative, responsible, and secure use of artificial intelligence (“AI”)."
Diese Modernisierung umfasst den innovativen, verantwortungsvollen und sicheren Einsatz künstlicher Intelligenz („KI“).
10-K · 2026-02-25 · View SEC filing
„The failure to maintain effective information systems or manage responsible use of emerging technologies, including artificial intelligence, could adversely affect our financial condition and results of operations at the Company."
Das Versäumnis, wirksame Informationssysteme zu unterhalten oder den verantwortungsvollen Einsatz neuer Technologien einschließlich künstlicher Intelligenz zu steuern, könnte die Finanzlage und die Geschäftsergebnisse des Unternehmens beeinträchtigen.
10-K · 2026-02-25 · View SEC filing
Filings Reviewed: 10-K 2026-02-25 · 10-Q 2026-05-07 · 10-K 2025-02-26
Rated on July 17, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 4.8%
- More than 10% revenue growth is expected for the coming year 6.1%
- Share count grows by less than 3% a year -6.5%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 24.7%
- Gross margin at 40% or higher and without meaningful erosion 33.4%
- Goodwill from acquisitions does not grow faster than revenue 1.6%
- Net debt below twice EBITDA 15,423 m net cash
- Operating cash flow covers the profits of the last three years 1,079 m
- Return on capital at 15% or higher, or up versus two years ago 5.1%
- Insiders hold at least 10% or are net buyers 0.7%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
7/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 4.8%
- Exp. sales growth 3Y > 5% 6.6%
- EBIT growth 10Y > 5% 7.4%
- Exp. EBIT growth 3Y > 5% 7.2%
- Net debt < 4x EBIT -10.5x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 6.1%
- Return on equity > 15% –
- ROCE > 15% 5.1%
- Expected return > 10% 17.3%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | Mitchell Robert Brian | EVP, General Counsel and CRO | Sell | 1,017 | 184.75 | 187,892 |
| Aug 7, 2026 | Mitchell Robert Brian | EVP, General Counsel and CRO | Sell | 10,529 | 183.83 | 1,935,545 |
| Aug 7, 2026 | Mitchell Robert Brian | EVP, General Counsel and CRO | Sell | 11,454 | 182.77 | 2,093,411 |
| Aug 7, 2026 | Mitchell Robert Brian | EVP, General Counsel and CRO | Other | 23,000 | 103.23 | 2,374,290 |
| Jul 31, 2026 | Darden James Matthew | Co-Chairman & CEO | Sell | 400 | 183.36 | 73,343 |
| Jul 31, 2026 | Darden James Matthew | Co-Chairman & CEO | Sell | 49,600 | 182.43 | 9,048,295 |
| Jul 31, 2026 | Darden James Matthew | Co-Chairman & CEO | Other | 50,000 | 98.32 | 4,916,000 |
| Jul 30, 2026 | Kalmbach Thomas Peter | EVP & CFO | Sell | 2,790 | 181.81 | 507,264 |
| Jul 30, 2026 | Kalmbach Thomas Peter | EVP & CFO | Sell | 2,650 | 181.23 | 480,255 |
| Jul 30, 2026 | Kalmbach Thomas Peter | EVP & CFO | Sell | 4,840 | 180.08 | 871,578 |
The company
About the Company
Globe Life Inc. bietet über ihre Tochtergesellschaften diverse Lebens- und ergänzende Krankenversicherungsprodukte für Familien mit niedrigem und mittlerem Einkommen in den USA an.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 3,695
- Headquarters
- McKinney, TX
- Address
- 7677 Henneman Way, 75070 McKinney, United States
- Phone
- 972 569 4000
- Website
- home.globelifeinsurance.com
- IPO Date
- 12/30/1987
- ISIN
- US37959E1029
- Stock Split
- 3:2 on 07/02/2014
- Stock Split
- 3:2 on 07/05/2011
- Stock Split
- 2:1 on 08/04/1997
Management
| Name | Title | Birth Year |
|---|---|---|
| Frank Martin Svoboda | Co-Chairman & Co-CEO | 1962 |
| James Matthew Darden | Co-Chairman & Co-CEO | 1971 |
| Thomas Peter Kalmbach | Executive VP & CFO | 1965 |
| Robert Edward Hensley | Executive VP & Chief Investment Officer | 1968 |
| Robert Brian Mitchell J.D. | Executive VP, General Counsel & Chief Risk Officer | 1964 |
| Michael Clay Majors | Executive VP & Chief Strategy Officer | 1963 |
| M. Shane Henrie | Corporate Senior VP & Chief Accounting Officer | 1974 |
| Christopher Kyle Tyler | Executive VP & Chief Information Officer | 1974 |
| Dolores L. Skarjune | Executive VP & Chief Administrative Officer | 1966 |
| Stephen Mota | Vice President of Investor Relations | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/07/2026 GLOBE LIFE INC. (GL): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers SEC ↗
- 07/22/2026 GLOBE LIFE INC. (GL): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.