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Friday 6 November 2026 Export GL’s income statement to Excel — free account

Globe Life Inc.

GL Financial Insurance Life

Globe Life Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.0 billion, up 3.74% from fiscal 2024.

Revenue
+5.48%
EPS
−2.08%
Free cash flow
+0.88%
Total debt
+5.49%

Quarter to September 2026, against a year earlier

157.52 1.69 −1.06%
Market cap
$12.2B
P/E
10.4×
Fwd P/E
10.5×
Dividend yield
0.79%
F-score
8/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Globe Life Inc. (GL) valuation and DCF model

What the price implies · reverse DCF

At $157.52 the price implies 53.3% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 7.0% a year over the last ten years, 7.4% over the last five. The price asks for more than four times its ten-year rate.

In December 2017 the price assumed 33.9% a year; Globe Life Inc. went on to grow the dividend a share −1.4% a year to FY2025.

Price implies
53.3%
Last 5 years, reported
7.4%
Last 10 years, reported
7.0%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
53.3% a year for ten years
$157.52
today’s price
Its base case
7.0% a year for five years, then 4.2%
$5.50
96.5% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Globe Life Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 53.3% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Globe Life Inc.’s own cost of capital: risk-free 4.3% + beta 0.46 × equity premium 4.5% = 6.4% cost of equity; weighted, 6.4%.

Use 6.4%
Base case value per share $5.50 ten years discounted, and what follows
Current price $157.52 market price per share
Below today’s price 96.5% downside at the base case’s assumptions

How we got there$2.37 10 years of dividends+$3.13 terminal value=$5.50 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Insurance Life).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 10.44× 11.18× 11.33× 8% below 11.34× 8% below
P/FCF 9.89× 8.59× 7.98× 24% above 7.43× 33% above
P/B 1.98× 2.26× 1.84× 8% above 1.08× 83% above
EV/EBITDA — 9.57× 10.81× — 3.38× —
EV/Sales — 2.37× 2.50× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
7.76×10.08×12.40×14.72×10Y avg 11.33×2017201820192020202120222023202420252026

GL trades at 10.44× P/E, against a 10-year average of 11.33× (range 7.17×–15.12×). That is cheaper than 56% of the last 9 year-end readings; re-rating to the average implies $170.88 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.