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Globe Life
(NYSE:GL)
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Rating:69Neutral
Price Target:
$169.00
▼(-3.73% Downside)
Action:Downgraded
Date:10/24/26
GL scores positively on fundamentals and valuation: steady growth, strong profitability and cash conversion, plus a low P/E support the rating. The score is held back mainly by weak technicals (price below key moving averages, negative MACD, very low RSI) and, from the earnings call, near-term margin and execution risks (health volatility/CMS disruption/Evri losses and a reduced 2026 EPS outlook).
Positive Factors
Premium Growth
Recurring premium growth supports a durable insurance earnings base, with health providing particularly strong expansion and 2027 guidance indicating continued momentum. A growing premium pool can improve operating scale, diversify revenue, and support reinvestment across Globe Life’s distribution channels.
Negative Factors
Health Underwriting Volatility
Health earnings face meaningful execution and claims volatility while Evri remains below credible scale. CMS processing disruption and unusually severe claims can pressure margins, complicate forecasting, and require higher pricing or longer experience periods before this business becomes consistently profitable.
Read all positive and negative factors
Positive Factors
Negative Factors
Premium Growth
Recurring premium growth supports a durable insurance earnings base, with health providing particularly strong expansion and 2027 guidance indicating continued momentum. A growing premium pool can improve operating scale, diversify revenue, and support reinvestment across Globe Life’s distribution channels.
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
$11.90B
Dividend Yield0.81%
Average Volume (3M)527.67K
Price to Earnings (P/E)10.2
Beta (1Y)0.47
Revenue Growth5.62%
EPS Growth8.87%
CountryUS
Employees3,695
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)15.22
Shares Outstanding76,849,450
10 Day Avg. Volume641,224
30 Day Avg. Volume527,672
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 Cap1.43
Enterprise Value/Revenue2.75
Enterprise Value/Gross Profit16.18
Enterprise Value/Ebitda27.01
Forecast
1Y Price Target
$189.43Price Target Upside7.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)15.59
Revenue Forecast (FY)$6.40B
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 makes money primarily by underwriting insurance and investing the premiums it collects. (1) Premium revenue: The core revenue stream is recurring premiums paid by policyholders for life and supplemental health policies. Premiums are pri...
Globe Life Earnings Call Summary
Earnings Call Date:Oct 21, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 10, 2027
Earnings Call Sentiment Positive
The call was broadly constructive. Management reported growth in operating income, total and health premiums, book value, sales activity, investment income, capital flexibility, and shareholder returns, while also outlining favorable claims experience, AI initiatives, Bermuda-related cash flow opportunities, and 2027 growth guidance. These positives were partially offset by a 2% decline in GAAP net income, lower 2026 EPS guidance, direct-to-consumer and American Income recruiting challenges, lower life and health margin metrics, CMS-related claims disruption, and significant volatility and losses at the early-stage Evri business.Positive Updates
Operating Income and Book Value Growth
Third-quarter net operating income increased 1% year over year to $379 million, or $4.84 per share, compared with $4.81 per share a year ago. Book value per share increased 23% to $85.35 on a GAAP-reported basis and increased 11% to $103.62 excluding AOCI. Return on equity through September 30 was 19.7% on a GAAP-reported basis and 15.9% excluding AOCI.
Negative Updates
GAAP Net Income Decline
Third-quarter net income decreased 2% year over year to $361 million, or $4.62 per share, compared with $4.73 per share a year ago.
Read all updates
Q3-2026 Updates
Positive
Negative
Operating Income and Book Value Growth
Third-quarter net operating income increased 1% year over year to $379 million, or $4.84 per share, compared with $4.81 per share a year ago. Book value per share increased 23% to $85.35 on a GAAP-reported basis and increased 11% to $103.62 excluding AOCI. Return on equity through September 30 was 19.7% on a GAAP-reported basis and 15.9% excluding AOCI.
Read all positive updates
Company Guidance
For full year 2026, Globe Life expects total premium revenue growth to be around 6.5%, life premium revenue growth between 2.5% to 2.75%, life underwriting margin of 44% to 45% of premium, health premium revenue growth around 15%, health underwriting margin growth in the range of 4.0% to 4.5%, health underwriting margin of 22% to 24% of premium, administrative expenses at approximately 7.3% of premium, American Income average producing agent count down around 5%, Liberty National up around 9%, Family Heritage up around 5%, net life sales approximately flat at American Income, up around 10% at Liberty National and down around 9% at Direct to Consumer, and net health sales down around 7% at Liberty National, up approximately 10% at Family Heritage and up around 45% at United American; net operating earnings per diluted share are expected in the range of $15.35 to $15.65, normalized EPS growth approximately 8%, net investment income growth around 4.5%, required interest growth around 3.5%, excess investment income growth of 10% to 11%, average yield on total long term investments approximately 5.51%, and share repurchases in the range of $725 million to $775 million. For full year 2027, the company expects net operating earnings per diluted share in the range of $16.10 to $17.10, representing an increase of 7% at the midpoint, total premium revenue growth of 6% to 8%, life premium revenue growth of 4%, health premium revenue growth of 13% to 15%, life underwriting margin of 42% to 45% of premium, health underwriting margin of 20% to 24%, health underwriting margin dollar growth of 7% to 9%, net investment income growth in the range of 2.5% to 3.5%, required interest growth in the range of 3.5% to 4.0%, average yield on total long term investments between 5.50% to 5.55%, parent excess cash flows approximately $850 million to $950 million, and a cash conversion ratio in the range of 70% to 75% of net operating income; 2027 sales growth is expected to be mid- to high-single-digit at American Income, low double digit at Liberty National and low single digit at Direct to Consumer for net life sales, and low double digit at Liberty National and Family Heritage and high single digit at United American for net health sales.Globe Life Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.20B | 6.00B | 5.78B | 5.45B | 5.23B | 5.12B |
| Gross Profit | 1.05B | 2.00B | 1.87B | 1.64B | 1.54B | 1.69B |
| EBITDA | 631.01M | 1.59B | 1.45B | 1.30B | 1.19B | 1.36B |
| Net Income | 1.21B | 1.16B | 1.07B | 970.75M | 894.39M | 1.03B |
Balance Sheet | ||||||
| Total Assets | 31.56B | 30.81B | 29.08B | 28.05B | 25.99B | 29.77B |
| Cash, Cash Equivalents and Short-Term Investments | 455.38M | 18.05B | 17.41B | 18.06B | 16.71B | 21.47B |
| Total Debt | 2.94B | 2.63B | 2.74B | 2.12B | 2.08B | 2.03B |
| Total Liabilities | 25.41B | 24.84B | 23.77B | 23.56B | 22.04B | 21.13B |
| Stockholders Equity | 6.16B | 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 | -892.77M | -643.62M | -641.52M | -926.15M | -943.01M | -913.37M |
| Financing Cash Flow | -490.52M | -768.05M | -715.84M | -541.49M | -492.45M | -523.60M |
Globe Life Technical Analysis
Negative
175.55
Price Trends
169.83
Negative
172.56
Negative
158.74
Negative
Market Momentum
-1.42
Positive
26.00
Positive
52.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GL, the sentiment is Negative. The current price of 175.55 is above the 20-day moving average (MA) of 165.97, above the 50-day MA of 169.83, and above the 200-day MA of 158.74, indicating a bearish trend. The MACD of -1.42 indicates Positive momentum. The RSI at 26.00 is Positive, neither overbought nor oversold. The STOCH value of 52.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | $8.45B | 11.00 | 32.55% | 1.69% | 8.23% | 23.45% | |
71 Outperform | $60.42B | 12.93 | 16.42% | 2.00% | 13.57% | 110.75% | |
70 Outperform | $4.96B | 18.07 | 10.82% | 1.30% | 5.72% | 7.05% | |
69 Neutral | $11.90B | 10.17 | 19.84% | 0.81% | 5.62% | 8.87% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $14.29B | 21.04 | 6.43% | 2.09% | 3.34% | -48.74% | |
59 Neutral | $249.43M | 5.83 | 9.13% | ― | -1.14% | 73.36% |
* Financial Sector Average
GL
Globe Life
154.79
20.89
15.60%
AFL
AFLAC
120.51
15.16
14.39%
CNO
CNO Financial
53.66
14.09
35.62%
PRI
Primerica
274.43
15.74
6.08%
SNFCA
Security National Financial
9.15
1.27
16.04%
UNM
Unum Group
90.28
15.82
21.25%
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.