Globe Life Inc Financials

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Globe Life Inc (GL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 80/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Globe Life Inc's revenue grew 6.1% year-over-year to $5.8B, a solid pace of expansion. This earns a growth score of 46/100.

Leverage

Globe Life Inc carries a low D/E ratio of 0.44, meaning only $0.44 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

100

Globe Life Inc converts 23.0% of revenue into free cash flow ($1.3B). This strong cash generation earns a score of 100/100.

Returns

Globe Life Inc earns a strong 20.2% return on equity (ROE), meaning it generates $20 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 81/100. This is down from 21.6% the prior year.

Piotroski F-Score Neutral

6/9

Globe Life Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.31x

For every $1 of reported earnings, Globe Life Inc generates $1.31 in operating cash flow ($1.4B OCF vs $1.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$5.8B

YoY+6.1%

5Y CAGR+5.0%

10Y CAGR+4.8%

Globe Life Inc generated $5.8B in revenue in fiscal year 2024. This represents an increase of 6.1% from the prior year.

EBITDA

N/A

Free Cash Flow

$1.3B

YoY-7.1%

5Y CAGR+0.1%

10Y CAGR+4.6%

Globe Life Inc generated $1.3B in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 7.1% from the prior year.

Net Income

$1.1B

YoY+10.3%

5Y CAGR+7.1%

10Y CAGR+7.0%

Globe Life Inc reported $1.1B in net income in fiscal year 2024. This represents an increase of 10.3% from the prior year.

EPS (Diluted)

$11.94

YoY+18.6%

5Y CAGR+11.8%

10Y CAGR+11.3%

Globe Life Inc earned $11.94 per diluted share (EPS) in fiscal year 2024. This represents an increase of 18.6% from the prior year.

Cash & Debt

$165.3M

YoY+60.3%

5Y CAGR+16.8%

10Y CAGR+9.6%

Globe Life Inc held $165.3M in cash against $2.3B in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.96

YoY+6.7%

5Y CAGR+6.8%

10Y CAGR+6.5%

Globe Life Inc paid $0.96 per share in dividends in fiscal year 2024. This represents an increase of 6.7% from the prior year.

Shares Outstanding

84M

YoY-10.5%

5Y CAGR-6.5%

10Y CAGR-4.1%

Globe Life Inc had 84M shares outstanding in fiscal year 2024. This represents a decrease of 10.5% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

18.5%

YoY+0.7pp

5Y CAGR+1.7pp

10Y CAGR+3.5pp

Globe Life Inc's net profit margin was 18.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.

Return on Equity

20.2%

YoY-1.5pp

5Y CAGR+9.8pp

10Y CAGR+8.6pp

Globe Life Inc's ROE was 20.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.5 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$1.0B

YoY+96.1%

5Y CAGR+16.9%

10Y CAGR+8.4%

Globe Life Inc spent $1.0B on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 96.1% from the prior year.

Capital Expenditures

$71.0M

YoY+43.4%

5Y CAGR+11.0%

10Y CAGR+13.9%

Globe Life Inc invested $71.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 43.4% from the prior year.

GL Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$5.8B+6.1%	$5.4B+4.2%	$5.2B+2.2%	$5.1B+7.9%	$4.7B+4.6%	$4.5B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	$1.3B+6.9%	$1.2B-3.0%	$1.2B+34.9%	$901.1M-1.1%	$910.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$302.1M-1.8%	$307.5M+9.0%	$282.0M+10.6%	$254.9M+2.3%	$249.1M
Operating Income	N/A	$1.3B+6.6%	$1.2B-3.3%	$1.2B+35.5%	$905.4M-1.6%	$920.1M
Interest Expense	$127.1M+24.2%	$102.3M+13.2%	$90.4M+8.3%	$83.5M-3.7%	$86.7M+2.8%	$84.3M
Income Tax	$255.9M+14.5%	$223.5M+7.6%	$207.7M-14.7%	$243.5M+47.7%	$164.9M-3.2%	$170.4M
Net Income	$1.1B+10.3%	$970.8M+8.5%	$894.4M-13.3%	$1.0B+40.9%	$731.8M-3.8%	$760.8M
EPS (Diluted)	$11.94+18.6%	$10.07+11.4%	$9.04-9.5%	$9.99+46.5%	$6.82-0.1%	$6.83

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Revenue	$1.5B+2.1%	$1.5B+0.1%	$1.5B+4.6%	$1.4B+2.3%	$1.4B+4.4%	$1.3B+0.4%	$1.3B-1.0%	$1.3B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$379.1M+13.2%	$334.9M+2.5%	$326.7M+1.0%	$323.4M+0.8%	$321.0M+3.4%	$310.3M+1.7%	$305.2M-0.4%	$306.4M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$89.2M+7.3%	$83.1M+3.4%	$80.4M+2.9%	$78.1M+4.7%	$74.6M-1.2%	$75.5M+2.1%	$73.9M-7.3%	$79.7M
Operating Income	$383.1M+13.1%	$338.6M+3.4%	$327.4M0.0%	$327.4M+1.6%	$322.1M+3.8%	$310.3M+1.7%	$305.2M-0.9%	$308.1M
Interest Expense	$36.1M+3.6%	$34.9M-0.3%	$35.0M+36.3%	$25.7M-1.1%	$26.0M+0.5%	$25.8M+3.8%	$24.9M+0.8%	$24.7M
Income Tax	$89.3M+47.4%	$60.5M-1.6%	$61.5M-0.6%	$61.9M+0.3%	$61.7M+25.4%	$49.2M-2.7%	$50.6M-6.9%	$54.4M
Net Income	$387.8M+53.4%	$252.7M-0.7%	$254.6M-7.4%	$274.8M+6.9%	$257.1M+19.4%	$215.3M-3.7%	$223.6M-7.7%	$242.3M
EPS (Diluted)	$4.73+55.1%	$3.05+1.3%	$3.01+4.5%	$2.88+7.5%	$2.68+19.6%	$2.24-1.8%	$2.28-7.3%	$2.46

GL Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$29.1B+3.7%	$28.1B+7.9%	$26.0B-12.7%	$29.8B+2.5%	$29.0B+11.8%	$26.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$165.3M+60.3%	$103.2M+11.4%	$92.6M+0.4%	$92.2M-2.8%	$94.8M+24.9%	$75.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$490.4M+1.8%	$481.8M0.0%	$481.8M0.0%	$481.8M+9.1%	$441.6M0.0%	$441.6M
Total Liabilities	$23.8B+0.9%	$23.6B+6.9%	$22.0B-20.6%	$27.8B+36.9%	$20.3B+8.5%	$18.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.3B+42.6%	$1.6B+0.1%	$1.6B+5.3%	$1.5B-7.3%	$1.7B+23.6%	$1.3B
Total Equity	$5.3B+18.2%	$4.5B+13.6%	$3.9B+97.1%	$2.0B-77.2%	$8.8B+20.2%	$7.3B
Retained Earnings	$8.0B+7.0%	$7.5B+8.5%	$6.9B+11.5%	$6.2B+5.2%	$5.9B+5.8%	$5.6B

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Total Assets	$30.5B+2.4%	$29.8B+0.4%	$29.7B+5.9%	$28.1B+7.0%	$26.2B-2.0%	$26.8B-0.6%	$26.9B+3.6%	$26.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$302.7M+26.6%	$239.1M+3.0%	$232.3M+125.2%	$103.2M+20.6%	$85.5M+14.0%	$75.0M-56.4%	$172.1M+85.9%	$92.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$490.4M0.0%	$490.4M0.0%	$490.4M+1.8%	$481.8M0.0%	$481.8M0.0%	$481.8M0.0%	$481.8M0.0%	$481.8M
Total Liabilities	$24.8B+1.8%	$24.4B+0.5%	$24.3B+3.0%	$23.6B+9.1%	$21.6B-5.2%	$22.8B-1.2%	$23.1B+4.7%	$22.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.3B-0.2%	$2.3B0.0%	$2.3B+42.7%	$1.6B-9.4%	$1.8B0.0%	$1.8B+10.4%	$1.6B0.0%	$1.6B
Total Equity	$5.7B+5.0%	$5.4B-0.1%	$5.4B+20.9%	$4.5B-2.9%	$4.6B+16.2%	$4.0B+3.5%	$3.8B-2.6%	$3.9B
Retained Earnings	$8.8B+4.2%	$8.5B+2.8%	$8.2B+10.0%	$7.5B-0.5%	$7.5B+3.2%	$7.3B+2.7%	$7.1B+2.9%	$6.9B

GL Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$1.4B-5.4%	$1.5B+4.2%	$1.4B-1.1%	$1.4B-2.6%	$1.5B+8.3%	$1.4B
Capital Expenditures	$71.0M+43.4%	$49.6M+77.4%	$27.9M-27.0%	$38.2M-8.4%	$41.8M-1.1%	$42.2M
Free Cash Flow	$1.3B-7.1%	$1.4B+2.8%	$1.4B-0.4%	$1.4B-2.5%	$1.4B+8.6%	$1.3B
Investing Cash Flow	-$641.5M+30.7%	-$926.1M+1.8%	-$943.0M-3.2%	-$913.4M+22.7%	-$1.2B-46.0%	-$809.3M
Financing Cash Flow	-$715.8M-32.2%	-$541.5M-10.0%	-$492.5M+5.9%	-$523.6M-91.1%	-$274.1M+53.6%	-$590.5M
Dividends Paid	$85.5M+1.6%	$84.1M+4.4%	$80.5M+0.6%	$80.0M+2.4%	$78.2M+5.4%	$74.2M
Share Buybacks	$1.0B+96.1%	$511.1M+12.4%	$454.6M-16.0%	$541.4M+22.0%	$443.9M-3.4%	$459.6M

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Operating Cash Flow	$306.0M-0.6%	$307.9M-28.7%	$431.9M+10.3%	$391.4M+36.4%	$286.9M-12.2%	$326.8M-31.5%	$477.3M+28.4%	$371.8M
Capital Expenditures	$97.3M+651.8%	$12.9M+10.2%	$11.7M-10.4%	$13.1M+21.1%	$10.8M-37.9%	$17.4M+112.2%	$8.2M+0.6%	$8.2M
Free Cash Flow	$208.7M-29.3%	$295.0M-29.8%	$420.1M+11.1%	$378.3M+37.0%	$276.1M-10.8%	$309.4M-34.0%	$469.1M+29.0%	$363.6M
Investing Cash Flow	-$73.8M-15.2%	-$64.0M+73.3%	-$240.0M-144.4%	-$98.2M+76.5%	-$417.8M-157.3%	-$162.4M+34.5%	-$247.8M+1.7%	-$252.2M
Financing Cash Flow	-$171.8M+25.6%	-$230.8M-85.4%	-$124.5M+54.2%	-$271.7M-298.7%	$136.8M+153.7%	-$254.8M-67.9%	-$151.7M-32.3%	-$114.7M
Dividends Paid	$21.9M-2.3%	$22.4M+11.1%	$20.1M-4.8%	$21.2M-1.0%	$21.4M-0.6%	$21.5M+7.1%	$20.1M-0.2%	$20.1M
Share Buybacks	$173.9M-30.5%	$250.3M-5.4%	$264.5M+82.2%	$145.2M+49.8%	$96.9M+8.0%	$89.8M-49.9%	$179.3M+50.4%	$119.2M

GL Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	23.1%+0.6pp	22.6%-1.2pp	23.8%+4.7pp	19.0%-1.1pp	20.1%
Operating Margin	N/A	23.2%+0.5pp	22.7%-1.3pp	24.0%+4.9pp	19.1%-1.2pp	20.3%
Net Margin	18.5%+0.7pp	17.8%+0.7pp	17.1%-3.1pp	20.2%+4.7pp	15.4%-1.4pp	16.8%
Return on Equity	20.2%-1.5pp	21.6%-1.0pp	22.7%-28.8pp	51.5%+43.1pp	8.3%-2.1pp	10.4%
Return on Assets	3.7%+0.2pp	3.5%+0.0pp	3.4%-0.0pp	3.5%+0.9pp	2.5%-0.4pp	2.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.44+0.1	0.36-0.0	0.41-0.4	0.77+0.6	0.190.0	0.18
FCF Margin	23.0%-3.3pp	26.3%-0.4pp	26.7%-0.7pp	27.4%-2.9pp	30.3%+1.1pp	29.2%

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Gross Margin	26.1%+2.8pp	23.3%+0.2pp	23.1%+0.2pp	22.9%-0.3pp	23.2%-0.2pp	23.4%+0.3pp	23.1%+0.2pp	22.9%
Operating Margin	26.3%+2.8pp	23.5%+0.4pp	23.1%0.0pp	23.1%-0.2pp	23.3%-0.1pp	23.4%+0.3pp	23.1%+0.0pp	23.1%
Net Margin	25.6%+8.6pp	17.1%-0.1pp	17.2%-2.2pp	19.4%+0.8pp	18.6%+2.3pp	16.2%-0.7pp	16.9%-1.2pp	18.1%
Return on Equity	6.8%+2.2pp	4.7%-0.0pp	4.7%-1.4pp	6.1%+0.6pp	5.6%+0.1pp	5.4%-0.4pp	5.8%-0.3pp	6.1%
Return on Assets	1.3%+0.4pp	0.9%0.0pp	0.9%-0.1pp	1.0%0.0pp	1.0%+0.2pp	0.8%-0.0pp	0.8%-0.1pp	0.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.41-0.0	0.430.0	0.43+0.1	0.36-0.0	0.39-0.1	0.45+0.0	0.42+0.0	0.41
FCF Margin	13.8%-6.1pp	19.9%-8.5pp	28.4%+1.7pp	26.7%+6.8pp	20.0%-3.4pp	23.3%-12.2pp	35.5%+8.3pp	27.2%

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Frequently Asked Questions

What is Globe Life Inc's annual revenue?

Globe Life Inc (GL) reported $5.8B in total revenue for fiscal year 2024. This represents a 6.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Globe Life Inc's revenue growing?

Globe Life Inc (GL) revenue grew by 6.1% year-over-year, from $5.4B to $5.8B in fiscal year 2024.

Is Globe Life Inc profitable?

Yes, Globe Life Inc (GL) reported a net income of $1.1B in fiscal year 2024, with a net profit margin of 18.5%.

What is Globe Life Inc's earnings per share (EPS)?

Globe Life Inc (GL) reported diluted earnings per share of $11.94 for fiscal year 2024. This represents a 18.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Globe Life Inc have?

As of fiscal year 2024, Globe Life Inc (GL) had $165.3M in cash and equivalents against $2.3B in long-term debt.

What is Globe Life Inc's net profit margin?

Globe Life Inc (GL) had a net profit margin of 18.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Globe Life Inc pay dividends?

Yes, Globe Life Inc (GL) paid $0.96 per share in dividends during fiscal year 2024.

What is Globe Life Inc's return on equity (ROE)?

Globe Life Inc (GL) has a return on equity of 20.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Globe Life Inc's free cash flow?

Globe Life Inc (GL) generated $1.3B in free cash flow during fiscal year 2024. This represents a -7.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Globe Life Inc's operating cash flow?

Globe Life Inc (GL) generated $1.4B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Globe Life Inc's total assets?

Globe Life Inc (GL) had $29.1B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Globe Life Inc's capital expenditures?

Globe Life Inc (GL) invested $71.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Globe Life Inc buy back shares?

Yes, Globe Life Inc (GL) spent $1.0B on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Globe Life Inc have outstanding?

Globe Life Inc (GL) had 84M shares outstanding as of fiscal year 2024.

What is Globe Life Inc's debt-to-equity ratio?

Globe Life Inc (GL) had a debt-to-equity ratio of 0.44 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Globe Life Inc's return on assets (ROA)?

Globe Life Inc (GL) had a return on assets of 3.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Globe Life Inc's Piotroski F-Score?

Globe Life Inc (GL) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Globe Life Inc's earnings high quality?

Globe Life Inc (GL) has an earnings quality ratio of 1.31x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Globe Life Inc?

Globe Life Inc (GL) scores 80 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.