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Globe Life
(NYSE:GL)
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Rating:69Neutral
Price Target:
$187.00
▲(7.79% Upside)
Action:Downgraded
Date:07/24/26
GL’s score is driven primarily by solid financial performance (strong profitability and steady growth, tempered by weaker recent free-cash-flow momentum) and a constructive but mixed earnings outlook (reiterated guidance and strong buybacks offset by health-claims volatility and DTC/agent-distribution challenges). Technicals add some near-term caution due to weakened momentum, while valuation is held back by a ~21 P/E and a low dividend yield.
Positive Factors
Consistent profitability and resilient margins
Globe Life exhibits persistently strong earnings power, with net margins resilient around ~18–20% and repeated quarters of double‑digit operating EPS growth. This durable profitability supports capital returns, underwriting capacity and reinvestment even through moderate revenue growth periods.
Negative Factors
Digital/DTC disruption from AI-driven search changes
Structural shifts in consumer search and paid‑search effectiveness force material changes to DTC acquisition economics. Rebuilding digital content, ad strategies and channels takes time and capital, creating a durable headwind to a historically scalable distribution channel.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent profitability and resilient margins
Globe Life exhibits persistently strong earnings power, with net margins resilient around ~18–20% and repeated quarters of double‑digit operating EPS growth. This durable profitability supports capital returns, underwriting capacity and reinvestment even through moderate revenue growth periods.
Read all positive factors
Globe Life Key Performance Indicators (KPIs)
Any
Insurance Premium Revenue by Segment
Shows the distribution of premium income across different insurance segments, highlighting which areas drive the most revenue and indicating potential growth or risk in specific markets.
Shows the distribution of premium income across different insurance segments, highlighting which areas drive the most revenue and indicating potential growth or risk in specific markets.
Data provided by:
The Fly
The FlyGlobe Life (GL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.95B
Dividend Yield0.66%
Average Volume (3M)677.87K
Price to Earnings (P/E)22.0
Beta (1Y)0.49
Revenue Growth5.24%
EPS Growth21.31%
CountryUS
Employees3,695
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)14.70
Shares Outstanding77,644,760
10 Day Avg. Volume725,318
30 Day Avg. Volume677,867
Financial Highlights & Ratios
PEG Ratio0.51
Price to Book (P/B)1.89
Price to Sales (P/S)1.89
P/FCF Ratio9.02
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$191.90Price Target Upside10.62% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)15.71
Revenue Forecast (FY)$6.41B
Globe Life Business Overview & Revenue Model
Company Description
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...
How the Company Makes Money
Globe Life primarily makes money through (1) underwriting income from insurance policies and (2) investment income generated by investing premiums (“float”) in its investment portfolio.
1) Premium revenue (core operating revenue)
- The company co...
Globe Life Earnings Call Summary
Earnings Call Date:Jul 22, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call presented multiple strong positives — double-digit GAAP and operating EPS growth, premium growth (especially in health and United American), improving investment yields and conservative portfolio positioning, an expanded share repurchase program, and upward guidance aided by expected assumption-update benefits. Counterbalancing these are execution and margin pressures: DTC sales disruption from AI-driven changes in search, a YoY decline in AIL agent count (though with sequential improvement), elevated health claims and higher health obligation ratios in Q2, and a near-term drag from the EVRI startup. Investment unrealized losses are interest-rate driven and manageable per management. On balance the company emphasized resilient operations, conservative investments, returning capital to shareholders, and clear plans to address distribution and AI-related digital changes.Positive Updates
Strong GAAP and Operating Earnings Growth
Q2 net income $288M ($3.65/share), +20% YoY; net operating income $285M ($3.61/share), +10% YoY; company noted double-digit net operating income per share growth in 8 of the last 9 quarters.
Negative Updates
Direct-to-Consumer Sales and Digital Marketing Disruption
DTC life premiums down 1% to $244M and net life sales down 15% to $27M in Q2; management attributes weakness to reduced paid-search volume driven by AI/changes in consumer search behavior and expects a transition period while adapting digital content and advertising strategies.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong GAAP and Operating Earnings Growth
Q2 net income $288M ($3.65/share), +20% YoY; net operating income $285M ($3.61/share), +10% YoY; company noted double-digit net operating income per share growth in 8 of the last 9 quarters.
Read all positive updates
Company Guidance
Globe Life reiterated 2026 guidance that calls for total premium revenue growth of about 6.5%–7%, life premium growth of 2.5%–3% with normalized life underwriting margin of roughly 41%–42% (but a third‑quarter post‑assumption‑update life margin of 52%–53% and Q4 life margin ~41%–42%), and health premium growth of 14%–16% with full‑year health underwriting margins of 23%–27% (Q3 health margin guided to 29%–32% and Q4 roughly 23%–25%); consolidated net operating EPS is $15.55–$15.95 (about 8.5% growth at the midpoint) including estimated Q3 remeasurement gains of $110–$130M (life $90–$100M, health $20–$30M), while normalized EPS growth is targeting ~9%–10% (three‑year CAGR ~11%). On distribution and sales, management expects mid‑single‑digit agent‑count and life‑sales growth at American Income in H2, low‑double‑digit agent growth at Liberty National and Family Heritage, Liberty National life sales low‑double‑digit, DTC life sales a single‑digit decline, and United American net health sales up 30%–35%. Financial and capital metrics include invested assets of $22.1B (≈$19.3B fixed maturities), total long‑term yield ~5.5% (fixed maturities ~5.31%), planned fixed‑maturity purchases of ~$550–$600M at ~6%–6.1% (total investments $700–$800M at ~6.3%–6.5%), excess investment income growth ~7%, end‑Q2 parent liquid assets ≈$110M (expected year‑end parent liquidity top of $50–$60M), planned shareholder returns of ~$350–$370M in H2 and full‑year share buybacks of $670–$700M plus ~$95M of dividends, and a targeted consolidated RBC ratio of 300%–320% (316% at 2025 year‑end).Globe Life Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.08B | 6.00B | 5.78B | 5.45B | 5.23B | 5.12B |
| Gross Profit | 2.31B | 2.00B | 1.87B | 1.64B | 1.54B | 1.69B |
| EBITDA | 1.61B | 1.59B | 1.45B | 1.30B | 1.19B | 1.36B |
| Net Income | 1.18B | 1.16B | 1.07B | 970.75M | 894.39M | 1.03B |
Balance Sheet | ||||||
| Total Assets | 30.97B | 30.81B | 29.08B | 28.05B | 25.99B | 29.77B |
| Cash, Cash Equivalents and Short-Term Investments | 439.00M | 18.05B | 17.41B | 18.06B | 16.71B | 21.47B |
| Total Debt | 2.78B | 2.63B | 2.74B | 2.12B | 2.08B | 2.03B |
| Total Liabilities | 24.88B | 24.84B | 23.77B | 23.56B | 22.04B | 21.13B |
| Stockholders Equity | 6.08B | 5.97B | 5.31B | 4.49B | 3.95B | 8.64B |
Cash Flow | ||||||
| Free Cash Flow | 1.23B | 1.25B | 1.33B | 1.43B | 1.39B | 1.40B |
| Operating Cash Flow | 1.39B | 1.40B | 1.40B | 1.48B | 1.42B | 1.44B |
| Investing Cash Flow | -684.93M | -643.62M | -641.52M | -926.15M | -943.01M | -913.37M |
| Financing Cash Flow | -673.22M | -768.05M | -715.84M | -541.49M | -492.45M | -523.60M |
Globe Life Technical Analysis
Positive
173.48
Price Trends
169.83
Positive
158.05
Positive
147.80
Positive
Market Momentum
2.80
Positive
45.43
Neutral
28.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GL, the sentiment is Positive. The current price of 173.48 is below the 20-day moving average (MA) of 179.53, above the 50-day MA of 169.83, and above the 200-day MA of 147.80, indicating a bullish trend. The MACD of 2.80 indicates Positive momentum. The RSI at 45.43 is Neutral, neither overbought nor oversold. The STOCH value of 28.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GL.
Globe Life Risk Analysis
Globe Life disclosed 24 risk factors in its most recent earnings report. Globe Life reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Globe Life Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $10.09B | 13.46 | 32.28% | 1.42% | 5.70% | 61.07% | |
74 Outperform | $3.91B | 7.85 | 11.42% | 3.27% | 17.32% | -0.37% | |
70 Outperform | $7.92B | 4.74 | 16.79% | 4.35% | 8.45% | 21.80% | |
69 Neutral | $13.95B | 21.96 | 20.93% | 0.69% | 5.24% | 21.31% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $13.36B | 20.50 | 7.07% | 2.19% | 3.34% | -48.74% | |
66 Neutral | $8.40B | -20.35 | -3.73% | 2.85% | -20.54% | -652.89% |
* Financial Sector Average
GL
Globe Life
182.98
43.64
31.32%
LNC
Lincoln National
46.02
9.63
26.46%
PRI
Primerica
323.32
62.12
23.78%
UNM
Unum Group
86.77
16.66
23.75%
JXN
Jackson Financial Incorporation
121.90
37.21
43.94%
FG
F&G Annuities & Life Inc
29.13
-1.72
-5.57%
Globe Life Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Globe Life Expands Credit Facilities, Extends Debt Maturities
Positive
Jun 29, 2026
On June 26, 2026, Globe Life and TMK Re Ltd. entered a Third Amended and Restated Credit Agreement that replaces a prior facility and shifts the role of administrative agent and related lending functions from Bank of America to Wells Fargo. The re...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.