| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 79 | 11.3x | 17.8x | Top tier | |
Growth | 41 | 5.2% | 7.1% | Around median | |
Quality | 94 | — | — | Top tier | |
Safety | 25 | — | — | Bottom tier | |
Capital Return | 54 | 0.70% | 2.12% | Around median | |
Momentum | 89 | 30.2% | 2.9% | Top tier | |
Sentiment | 38 | 7 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Globe Life Inc. is an insurance company focused on life and health policies targeting the middle-income market, generating income primarily from insurance premiums, underwriting margins, and investment portfolio income. It distributes its products through the American Income Life, Liberty National, and Family Heritage agencies, alongside the Globe Life direct-to-consumer channel and United American operations, including Medicare Supplement insurance and the Evri group business. In fiscal 2026 Q2, life premiums totaled $861 million and health premiums totaled $437 million, while net investment income reached $294 million.
The company reported fiscal 2026 Q2 revenue of $1.6 billion and net income of $287.7 million, equivalent to earnings per share of $3.65. According to the earnings call, net income rose to approximately $288 million, and earnings per share increased 20% from $3.05 a year earlier, while net operating income increased 10% to $285 million, or $3.61 per share. Reported return on equity was 18.4% through June 30, 2026, while book value per share excluding accumulated other comprehensive income increased 11% to $100.04.
Growth was mixed across the insurance businesses in fiscal 2026 Q2; life premiums increased 3% to $861 million, and the underwriting margin reached $359 million, or 42% of premiums, while health premiums jumped 16% to $437 million, but their margin increased only 1% to $99 million and declined from 26% to approximately 23% of premiums. Across distribution channels, United American achieved 29% growth in health premiums to $211 million, and American Income Life life premiums increased 5% to $466 million, while direct-to-consumer channel premiums declined 1% to $244 million. The data did not disclose gross profit, so the profitability assessment focuses on net income and underwriting margins.
The analyst consensus is Neutral, with an average price target of $183 and a relatively wide range of $166 to $200, reflecting differing assessments of the impact of earnings growth versus pressure on health margins and the digital transformation of the direct-to-consumer channel. The average target is approximately 4.5% below the 52-week range high of $191.55, while the highest target is approximately 4.4% above that high, and the annual range low is $127.85. The data does not provide a usable price-to-earnings multiple, so the valuation of GL here is based more on the Neutral consensus, the dispersion of targets, and the earnings-per-share track record than on a market multiple.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Globe Life's revenue in fiscal 2026 Q2 totaled approximately $1.6 billion, net income was $287.7 million, and earnings per share were $3.65. Reported earnings per share increased 20% from $3.05 a year earlier, while net operating income per share increased 10% to $3.61. Support came from an improved life underwriting margin and a 10% increase in excess investment income to $38 million, while weakness in the health margin limited the strength of the results.
Management expects diluted operating earnings per share of between $15.55 and $15.95 in fiscal 2026, equivalent to growth of 8.5% at the midpoint. It expects growth of between 6.5% and 7% in total premiums, between 2.5% and 3% in life premiums, and between 14% and 16% in health premiums. The outlook includes remeasurement gains of between $110 million and $130 million from updating life and health assumptions in fiscal 2026 Q3, while actuarially adjusted earnings per share growth is estimated at between 9% and 10%.
The health underwriting margin declined from 26% to approximately 23% of premiums in fiscal 2026 Q2, despite health premium growth of 16% to $437 million. Health policy obligations increased to 56.8% of premiums due to Medicare Supplement claims attributable to prior periods, a CMS correction to physician reimbursements, high-severity claims at Evri, and volatility in cancer claims at Liberty National. Management expects an underlying health margin of approximately 25% in Q3 and approximately 23%–25% in fiscal 2026 Q4, before the effect of the assumption update.
Automated analysis for informational purposes only — not investment advice.
The shift by consumers from traditional paid search to artificial intelligence-supported search led to lower search volume and a higher cost per click for the direct-to-consumer channel. As a result, net life sales for this channel declined 15% to $27 million in fiscal 2026 Q2, and management expects a single-digit decline in its sales for the full year. Globe Life is working with platforms such as Google and Facebook on new advertising formats, while also developing content that artificial intelligence assistants can interpret and testing agent-training tools to improve productivity and retention.
Globe Life repurchased approximately 1.1 million shares for $175 million in fiscal 2026 Q2 and returned approximately $200 million to shareholders when including $25 million in dividends. The company expects to repurchase $670–700 million of shares and pay approximately $95 million in dividends during fiscal 2026. On August 10, 2026, it announced a new authorization of up to $2.5 billion that became effective on August 15, 2026, while funding growth in insurance operations remains a priority before directing excess capital to repurchases.
Invested assets totaled $22.1 billion in fiscal 2026 Q2, including $19.3 billion in fixed-income securities at amortized cost. Of that amount, $18.8 billion was investment grade with an average rating of A, while below-investment-grade securities were limited to $516 million, or 2.7% of the fixed-income portfolio. The earned yield on total long-term investments was 5.51%, but the portfolio carried an unrealized loss of $1.4 billion primarily associated with higher interest rates.
