Globe Life
Globe Life Inc., through its subsidiaries, provides various life and supplemental health insurance products to lower middle- and middle-income families in the United States. It operates in three segments: Life Insurance, Supplemental Health Insurance, and Investments. The company offers whole, term…
Globe Life Inc., through its subsidiaries, provides various life and supplemental health insurance products to lower middle- and middle-income families in the United States. It operates in three segments: Life Insurance, Supplemental Health Insurance, and Investments. The company offers whole, term, and other life insurance products, as well as life insurance for children; Medicare supplement and limited-benefit supplemental health insurance products, such as accident, cancer, critical illness, heart, intensive care, and other health products; and final expense, accidental death, mortgage protection, and hospital insurance products. It sells its products through direct-to-consumer channels, exclusive independent agents, general agency independent agents, and brokers. The company was formerly known as Torchmark Corporation and changed its name to Globe Life Inc. in August 2019. Globe Life Inc. was founded in 1900 and is headquartered in McKinney, Texas.Priced within the modelled range
Other models: USD 187.97–200.13 (median 194.05). The recommended value is in line with them.
Why: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Details and the full model are below.
Market price within modeled range
Justified P/B (ROE) using Fiscal year 2025 net income and book equity: return on equity of 19.4% gives a fair price-to-book of 2.37x, with 2.4% growth (capped at the terminal rate) and 9.6% discount. The range varies growth and discount by 1 percentage point; it is illustrative, not a statistical confidence interval or investment advice.
Assumptions: growth 5.47%, discount rate 9.60%, terminal growth 2.40% (sector defaults). See a worked example.
Blended growth assumption: 5.5% (sector default 5.4%, own revenue history 4.1%, analyst revenue consensus 6.2%).
5-year outlook: relative outlook of about 15.1% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 6.2% a year; the growth assumption used is 5.5%.
Adjust assumptions
Why this model: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Compare models- Recommended: Justified P/B (ROE) — USD 171.30 (+7.6%)
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EPS-based Gordon proxy
— USD 200.13 (+25.7%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— USD 218.02 (+36.9%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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FCFF (steady state)
— USD 187.97 (+18.1%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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EV/EBITDA (12x)
— not applicable
Not used: Cannot be computed: EBITDA is missing, zero or negative.
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Fade DCF (10-year growth fade)
— USD 216.93 (+36.3%)
Not used: Cash-flow models do not suit banks and insurers, whose cash flow is mostly funding and deposits.
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EV/Sales (Rule of 40)
— USD 51.34 (-67.8%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear USD 141.93 | -12.2% |
| Base USD 171.30 | 7.1% |
| Bull USD 223.27 | 28.7% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 87 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +4.1% a year | 12 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| GL (this company) | USD 159.21 | 7.1% | 11.3 | 2.2 | 0.7% | 87 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.88 | 68.1% | 3.7 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.89 | 45.5% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.88 | 36.0% | 6.8 | 0.7 | 6.9% | 78 |
| PRU.L Prudential plc | GBP 9.29 | 33.7% | 8.1 | 1.6 | 1.9% | 78 |
| V Visa Inc. | USD 422.59 | 33.3% | 8.9 | – | 0.2% | 100 |
| AGS.BR ageas SA/NV | EUR 77.60 | 32.5% | 8.2 | 1.5 | 5.0% | 76 |
| SYF Synchrony Financial | USD 74.07 | 29.9% | 7.2 | 1.4 | 2.1% | 100 |
| NWG.L NatWest Group plc | GBP 5.92 | 29.6% | 8.3 | 1.3 | 4.9% | 88 |
| Peer median | 7.6 | 1.4 | ||||
Dividends
Paid in the last 12 months: USD 1.26 per share · yield 0.79% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 1.260 |
| 2025 | 1.050 |
| 2024 | 0.945 |
| 2023 | 0.883 |
| 2022 | 0.822 |
| 2021 | 0.782 |
Annual financial statement
Saved annual report · Fiscal year 2025 · SEC EDGAR annual filings · period ended 31 Dec 2025
| Revenue | USD 5,994,318,000 |
|---|---|
| EBITDA | USD |
| EBIT | USD |
| Net income | USD 1,161,238,000 |
| Free cash flow | USD 1,253,907,000 |
| Capital expenditures | USD -142,484,000 |
| Debt | USD 2,320,793,000 |
| Cash | USD |
| Working capital | USD |
| Shares outstanding | 82,524,992 |
| Reported dividends per share | USD 1.0800 |