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Globe Life
(NYSE:GL)
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Rating:76Outperform
Price Target:
$203.00
▲(33.68% Upside)
Action:Reiterated
Date:06/30/26
Overall score is driven primarily by solid financial quality (strong margins and reliable cash generation) and a constructive earnings outlook (positive guidance, strong sales momentum, and enhanced capital returns). The main constraints are overbought technical conditions (RSI/Stoch elevated), weaker recent free-cash-flow growth, and operational headwinds flagged on the call (lapses/agent retention and expense pressure). Valuation is supportive on P/E, though the low dividend yield limits upside from the valuation component.
Positive Factors
Underwriting Profitability
Globe Life's consistent net margins near 18–20% and steady operating profitability indicate durable underwriting discipline. This supports predictable earnings, strong ROE, and reliable cash generation from core insurance operations even with moderate premium growth.
Negative Factors
Persistency & Agent Retention
Sustained higher lapse rates and weaker new‑agent retention undermine long‑term premium persistency and renewals. Declining producing agent counts reduce distribution capacity, increase acquisition cost per in‑force policy, and pressure long‑run underwriting profitability and growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Underwriting Profitability
Globe Life's consistent net margins near 18–20% and steady operating profitability indicate durable underwriting discipline. This supports predictable earnings, strong ROE, and reliable cash generation from core insurance operations even with moderate premium growth.
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
$14.01B
Dividend Yield0.74%
Average Volume (3M)608.50K
Price to Earnings (P/E)12.3
Beta (1Y)0.47
Revenue Growth3.96%
EPS Growth18.81%
CountryUS
Employees3,732
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)14.70
Shares Outstanding77,644,760
10 Day Avg. Volume653,936
30 Day Avg. Volume608,495
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 Cap1.13
Enterprise Value/Revenue2.60
Enterprise Value/Gross Profit6.84
Enterprise Value/Ebitda9.83
Forecast
1Y Price Target
$175.89Price Target Upside15.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)15.64
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:Apr 22, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive operational and financial picture: double-digit net operating EPS growth, strong year-over-year sales (notably +58% health net sales), solid investment yields and disciplined capital returns including an increased dividend and accelerated buybacks. Management provided constructive guidance and highlighted a meaningful Q3 remeasurement tailwind ($70M–$110M pre-tax). Challenges noted—elevated lapse rates, a decline in producing agent count at American Income, Q1 health seasonality, rising administrative expenses and an unrealized investment loss position—are being actively managed through compensation changes, AI/technology investments, rate increases in health and conservative investment/holding strategies. Overall, the positive results, strengthened guidance, and shareholder-friendly capital deployment outweigh the manageable operational headwinds described.Positive Updates
Strong Earnings and Operating EPS Growth
Net income of $271 million ($3.39 per share) in Q1 2026 versus $255 million ($3.01 per share) a year ago; net operating income per share of $3.43, an increase of 12% year-over-year (from $3.07).
Negative Updates
Agent Count and Retention Pressure at American Income
Average producing agent count at American Income declined 4% year-over-year to 11,064, driven primarily by lower new agent retention and elevated first-year lapses; management implemented middle-management compensation adjustments to emphasize recruiting and retention.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Earnings and Operating EPS Growth
Net income of $271 million ($3.39 per share) in Q1 2026 versus $255 million ($3.01 per share) a year ago; net operating income per share of $3.43, an increase of 12% year-over-year (from $3.07).
Read all positive updates
Company Guidance
Management guided 2026 net operating earnings per diluted share of $15.40–$15.90 (≈8% growth at the midpoint), with normalized EPS growth of ~11% and a projected 3‑year normalized EPS CAGR of 11.5% at the midpoint; total premium revenue expected to grow ≈7% (Q1 +6%), life premium revenue +3%–3.5% (Q1 $853M) with life underwriting margin ~42%–45% for the year but ~41% in Q2 and Q4 and a Q3 remeasurement boost (Q3 life margin guided 49%–54%; assumed pre‑tax benefit $70M–$110M), health premium revenue +14%–17% (Q1 $417M, +13%) with health underwriting margins 23%–27% (Q1 ~23%; United American margin 8%–9% with ~10% average over the last 3 quarters), administrative expenses ~7.3% of premium for the year (Q1 7.4%, long‑term target nearer 7%), net investment income and required interest growth ≈4% (excess investment income +4%–4.5%), expected long‑term investment yield 5.45%–5.5% (Q1 earned 5.5%; fixed maturities ~5.3%), planned 2026 fixed‑maturity purchases ~$800M–$900M (total planned investments $1.1B–$1.2B at ~6.3%–6.5% yield), parent liquidity target $50M–$60M year‑end (Q1 ~$85M), dividends of ≈$90M for the year (reflecting a 22% dividend increase), an increased share‑repurchase range of $560M–$610M (Q1 repurchases ~1.4M shares for ~$205M), and a consolidated RBC target of 300%–320% (YE‑2025: 316%, ≈$95M excess capital).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
151.86
Price Trends
160.11
Positive
151.46
Positive
144.30
Positive
Market Momentum
6.44
Negative
81.22
Negative
82.04
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 151.86 is below the 20-day moving average (MA) of 170.02, below the 50-day MA of 160.11, and above the 200-day MA of 144.30, indicating a bullish trend. The MACD of 6.44 indicates Negative momentum. The RSI at 81.22 is Negative, neither overbought nor oversold. The STOCH value of 82.04 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $9.26B | 12.43 | 32.28% | 1.59% | 5.70% | 61.07% | |
76 Outperform | $14.01B | 12.28 | 20.32% | 0.74% | 3.96% | 18.81% | |
73 Outperform | $14.75B | 20.03 | 7.07% | 2.22% | 4.19% | -45.74% | |
71 Outperform | $3.70B | 7.20 | 11.42% | 2.91% | 17.32% | -0.37% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $7.07B | 4.10 | 16.79% | 3.93% | 8.45% | 21.80% | |
61 Neutral | $7.29B | -17.30 | -3.73% | 2.98% | -20.54% | -652.89% |
* Financial Sector Average
GL
Globe Life
180.49
60.04
49.84%
LNC
Lincoln National
37.00
4.32
13.22%
PRI
Primerica
297.06
28.54
10.63%
UNM
Unum Group
92.34
12.53
15.70%
JXN
Jackson Financial Incorporation
104.47
19.33
22.70%
FG
F&G Annuities & Life Inc
27.94
-2.17
-7.22%
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.