Globe Life (GL)
NYSE:GL
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Globe Life
(NYSE:GL)
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Rating:78Outperform
Price Target:
$164.00
▲(14.40% Upside)
Action:ReiteratedDate:02/26/26
Overall score is driven primarily by strong financial performance (healthy margins, solid cash generation, and improved leverage/ROE), supported by constructive technicals (price above major averages with positive MACD). Valuation is favorable at a low P/E, while the earnings call adds support via positive 2026 growth guidance and continued buybacks, tempered by operational and investment headwinds (agent turnover/lapses, health-margin volatility, and unrealized bond losses).
Positive Factors
Underwriting & Operating Margins
Sustained high underwriting and operating margins reflect disciplined pricing, conservative reserving and favorable product mix in life and supplemental health. Management’s guidance for elevated life margins (41.5%–44.5%) and consistent operating profitability support durable earnings power and cash generation over the medium term.
Negative Factors
Unrealized Fixed-Maturity Losses
Material mark-to-market unrealized losses reflect higher interest rates versus book yields. While management plans to hold to maturity, the unrealized deficit can compress reported surplus and regulatory capital headroom, constraining flexibility for distributions or growth until positions runoff or are offset by future gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Underwriting & Operating Margins
Sustained high underwriting and operating margins reflect disciplined pricing, conservative reserving and favorable product mix in life and supplemental health. Management’s guidance for elevated life margins (41.5%–44.5%) and consistent operating profitability support durable earnings power and cash generation over the medium term.
Read all positive factors
Globe Life (GL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.27B
Dividend Yield0.74%
Average Volume (3M)504.48K
Price to Earnings (P/E)9.7
Beta (1Y)0.70
Revenue Growth3.73%
EPS Growth17.47%
CountryUS
Employees3,732
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)3.39
Shares Outstanding78,637,130
10 Day Avg. Volume567,407
30 Day Avg. Volume504,475
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 Cap1.22
Enterprise Value/Revenue2.30
Enterprise Value/Gross Profit6.88
Enterprise Value/Ebitda8.66
Forecast
1Y Price Target
$174.33Price Target Upside21.60% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)15.35
Revenue Forecast (FY)$6.39B
Globe Life Business Overview & Revenue Model
Company Description
Globe Life Inc., through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle to middle income households in the United States. The company operates through four segments: Life Insurance...
How the Company Makes Money
Globe Life generates revenue primarily through the sale of life insurance policies and related products. The company earns premiums from policyholders, which constitute a significant portion of its revenue. In addition to premiums, Globe Life also...
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 Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call highlights solid operational and financial momentum: year-over-year premium growth, improved life underwriting margins, agency sales strength (notably American Income, Family Heritage and United American), a successful DTC sales turnaround, raised 2026 guidance (net operating EPS and premium growth), active shareholder returns (large buybacks), and a strategic Bermuda reinsurance initiative to enhance future parent cash flow. Challenges include higher agent turnover at one major agency, elevated early lapses in internet-driven channels, a decline in excess investment income this quarter, interest-rate-driven unrealized bond losses ($1.2B), and some health-margin pressure and seasonality related to Medicare Supplement timing. Management provided detailed mitigation actions (retention initiatives, pricing/rate increases, conservative investment posture) and did not incorporate Bermuda dividend benefits into 2026 guidance. Overall the positives (growth, margins, guidance lift, capital returns and strategic initiatives) outweigh the identifiable operational and investment headwinds.Positive Updates
Strong Quarterly and Full-Year Earnings
Q4 net income of $266M ($3.29/share) vs $255M ($3.01/share) a year ago; Q4 net operating income $274M ($3.39/share), up 8% vs prior-year operating EPS of $3.14. Full-year 2025 net operating income $14.52, $0.02 above prior midpoint guidance.
Negative Updates
Higher Agent Turnover at American Income
Average producing agent count at American Income declined 2% to 11,699 in Q4; management noted more agent turnover than expected and is implementing retention initiatives to address the issue.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Quarterly and Full-Year Earnings
Q4 net income of $266M ($3.29/share) vs $255M ($3.01/share) a year ago; Q4 net operating income $274M ($3.39/share), up 8% vs prior-year operating EPS of $3.14. Full-year 2025 net operating income $14.52, $0.02 above prior midpoint guidance.
Read all positive updates
Company Guidance
Management guided 2026 net operating earnings per diluted share of $14.95–$15.65 (≈5% growth at the midpoint; normalized EPS growth ≈10%), with total premium revenue up ~7%–8% (life +4%–4.5%, health +14%–16%). Underwriting margins are expected to be 41.5%–44.5% for Life (with an anticipated Q3 assumption remeasurement gain of $50M–$100M lifting Q3 life margin to ~48%–52%) and 23%–27% for Health; administrative expenses are expected to be ~7.3% of premium. Investment guidance assumes ~$900M–$1.1B of fixed-maturity purchases at ~5.9%–6.0% and $300M–$400M of commercial mortgage loans/limited partnerships with 7%–9% expected cash returns, driving a blended earned yield of ~5.4%–5.5% (fixed-maturity yield ~5.3% for 2026); net investment income is expected to grow 3%–4%, required interest ≈4% and excess investment income relatively flat. Capital and liquidity guidance includes parent excess cash flow of ~$625M–$675M in 2026 (moving over time toward ~$200M annually from Bermuda reinsurance), planned shareholder distributions of $85M–$90M in dividends and $535M–$585M in share repurchases, year-end parent liquid assets of $50M–$60M, and a target consolidated RBC ratio of ~300%–320%.Globe Life Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.00B | 5.78B | 5.45B | 5.23B | 5.12B |
| Gross Profit | 2.00B | 1.87B | 1.64B | 1.54B | 1.69B |
| EBITDA | 1.59B | 1.45B | 1.30B | 1.19B | 1.36B |
| Net Income | 1.16B | 1.07B | 970.75M | 894.39M | 1.03B |
Balance Sheet | |||||
| Total Assets | 30.81B | 29.08B | 28.05B | 25.99B | 29.77B |
| Cash, Cash Equivalents and Short-Term Investments | 18.05B | 17.41B | 18.06B | 16.71B | 21.47B |
| Total Debt | 2.63B | 2.74B | 2.12B | 2.08B | 2.03B |
| Total Liabilities | 24.84B | 23.77B | 23.56B | 22.04B | 21.13B |
| Stockholders Equity | 5.97B | 5.31B | 4.49B | 3.95B | 8.64B |
Cash Flow | |||||
| Free Cash Flow | 1.25B | 1.33B | 1.43B | 1.39B | 1.40B |
| Operating Cash Flow | 1.40B | 1.40B | 1.48B | 1.42B | 1.44B |
| Investing Cash Flow | -643.62M | -641.52M | -926.15M | -943.01M | -913.37M |
| Financing Cash Flow | -768.05M | -715.84M | -541.49M | -492.45M | -523.60M |
Globe Life Technical Analysis
Positive
143.36
Price Trends
141.19
Positive
138.84
Positive
136.19
Positive
Market Momentum
-0.27
Negative
59.51
Neutral
87.77
Negative
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 143.36 is above the 20-day moving average (MA) of 138.92, above the 50-day MA of 141.19, and above the 200-day MA of 136.19, indicating a bullish trend. The MACD of -0.27 indicates Negative momentum. The RSI at 59.51 is Neutral, neither overbought nor oversold. The STOCH value of 87.77 is Negative, 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $11.27B | 9.74 | 20.64% | 0.74% | 3.73% | 17.47% | |
74 Outperform | $8.03B | 11.22 | 32.29% | 1.59% | 5.63% | 67.39% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $3.57B | 15.25 | 5.75% | 2.91% | -4.58% | ― | |
65 Neutral | $12.42B | 18.10 | 6.63% | 2.22% | 1.80% | -44.44% | |
61 Neutral | $6.71B | 6.91 | 12.03% | 3.93% | 35.76% | 636.97% | |
53 Neutral | $7.49B | 276.83 | 0.26% | 2.98% | 24.94% | ― |
* Financial Sector Average
GL
Globe Life
143.36
31.03
27.62%
LNC
Lincoln National
35.28
7.70
27.93%
PRI
Primerica
253.76
13.33
5.55%
UNM
Unum Group
75.84
6.97
10.13%
JXN
Jackson Financial Incorporation
105.90
37.74
55.37%
FG
F&G Annuities & Life Inc
26.31
-7.59
-22.38%
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.