Latest Ratios: P/E Ratio 12.6x · EV/EBITDA 10.2x · ROE 20.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.7B | $11.3B | $9.5B | $11.7B | $11.9B | $9.7B | $10.2B | $11.7B | $8.6B | $10.8B | $9.0B |
| Enterprise Value | $16.2B | $13.8B | $12.0B | $13.7B | $13.9B | $11.6B | $12.0B | $13.3B | $10.1B | $12.1B | $10.3B |
| P/E Ratio → | 12.57 | 9.95 | 9.34 | 12.09 | 13.34 | 12.98 | 13.92 | 15.41 | 12.26 | 7.42 | 16.43 |
| P/S Ratio | 2.29 | 1.89 | 1.64 | 2.15 | 2.28 | 1.89 | 2.15 | 2.59 | 1.99 | 2.60 | 2.29 |
| P/B Ratio | 2.39 | 1.89 | 1.78 | 2.61 | 3.02 | 1.12 | 1.16 | 1.61 | 1.59 | 1.73 | 1.98 |
| P/FCF | 10.94 | 9.02 | 7.10 | 8.19 | 8.56 | 6.91 | 7.10 | 8.87 | 6.97 | 7.66 | 6.57 |
| P/OCF | 9.82 | 8.10 | 6.74 | 7.91 | 8.39 | 6.73 | 6.90 | 8.60 | 6.72 | 7.55 | 6.45 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.30 | 2.08 | 2.52 | 2.66 | 2.27 | 2.53 | 2.94 | 2.35 | 2.92 | 2.63 |
| EV / EBITDA | 10.18 | 8.66 | 8.27 | 10.60 | 11.67 | 8.54 | 12.21 | 13.09 | 10.62 | 13.26 | 12.09 |
| EV / EBIT | 11.07 | 8.66 | 8.27 | 10.60 | 11.67 | 8.54 | 12.21 | 13.09 | 10.62 | 13.26 | 12.09 |
| EV / FCF | — | 11.00 | 9.03 | 9.59 | 9.98 | 8.29 | 8.37 | 10.06 | 8.22 | 8.61 | 7.53 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.4% | 33.4% | 32.4% | 30.1% | 29.5% | 32.9% | 27.1% | 29.1% | 28.8% | 93.8% | 27.6% |
| Operating Margin | 24.4% | 24.4% | 23.0% | 21.9% | 21.1% | 24.9% | 18.9% | 20.6% | 20.0% | 22.2% | 19.6% |
| Net Profit Margin | 19.4% | 19.4% | 18.5% | 17.8% | 17.1% | 20.1% | 15.4% | 16.8% | 16.3% | 35.0% | 14.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.6% | 20.6% | 21.9% | 23.0% | 14.2% | 11.8% | 9.1% | 12.0% | 12.0% | 26.9% | 12.8% |
| ROA | 3.9% | 3.9% | 3.7% | 3.6% | 3.2% | 3.5% | 2.7% | 3.1% | 3.0% | 6.5% | 2.7% |
| ROIC | 13.4% | 13.4% | 13.8% | 14.4% | 10.0% | 9.0% | 6.9% | 8.8% | 8.9% | 10.3% | 10.4% |
| ROCE | 5.2% | 5.2% | 5.0% | 4.7% | 4.3% | 4.8% | 3.3% | 3.8% | 3.7% | 4.1% | 3.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.44 | 0.44 | 0.52 | 0.47 | 0.53 | 0.23 | 0.22 | 0.23 | 0.31 | 0.23 | 0.31 |
| Debt / EBITDA | 1.65 | 1.65 | 1.88 | 1.63 | 1.74 | 1.49 | 1.96 | 1.62 | 1.75 | 1.60 | 1.63 |
| Net Debt / Equity | — | 0.42 | 0.49 | 0.45 | 0.50 | 0.22 | 0.21 | 0.22 | 0.29 | 0.22 | 0.29 |
| Net Debt / EBITDA | 1.56 | 1.56 | 1.77 | 1.55 | 1.66 | 1.42 | 1.86 | 1.55 | 1.62 | 1.47 | 1.54 |
| Debt / FCF | — | 1.98 | 1.93 | 1.40 | 1.42 | 1.38 | 1.27 | 1.19 | 1.25 | 0.95 | 0.96 |
| Interest Coverage | 11.27 | 11.27 | 11.44 | 12.67 | 13.19 | 16.27 | 11.34 | 12.05 | 10.59 | 10.77 | 10.27 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.66 | 9.66 | 9.48 | 10.83 | 10.66 | 8.15 | — | — | — | — | — |
| Quick Ratio | 9.66 | 9.66 | 9.48 | 10.83 | 10.66 | 8.15 | — | — | — | — | — |
| Cash Ratio | 9.14 | 9.14 | 8.99 | 10.32 | 10.15 | 7.88 | — | — | — | — | — |
| Asset Turnover | — | 0.19 | 0.20 | 0.19 | 0.20 | 0.17 | 0.16 | 0.17 | 0.19 | 0.18 | 0.18 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | 0.8% | 0.9% | 0.7% | 0.7% | 0.8% | 0.8% | 0.6% | 0.8% | 0.6% | 0.7% |
| Payout Ratio | 7.4% | 7.4% | 8.0% | 8.7% | 9.0% | 7.8% | 10.7% | 9.8% | 10.2% | 4.7% | 12.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.0% | 10.1% | 10.7% | 8.3% | 7.5% | 7.7% | 7.2% | 6.5% | 8.2% | 13.5% | 6.1% |
| FCF Yield | 9.1% | 11.1% | 14.1% | 12.2% | 11.7% | 14.5% | 14.1% | 11.3% | 14.3% | 13.1% | 15.2% |
| Buyback Yield | 6.4% | 7.8% | 10.6% | 4.4% | 3.8% | 5.6% | 4.4% | 3.9% | 4.9% | 3.8% | 4.5% |
| Total Shareholder Yield | 7.0% | 8.6% | 11.5% | 5.1% | 4.5% | 6.4% | 5.1% | 4.6% | 5.7% | 4.5% | 5.2% |
| Shares Outstanding | — | $81M | $85M | $96M | $99M | $103M | $107M | $111M | $115M | $119M | $122M |
Captive agency distribution volatility
Based on current market data, Globe Life trades at a P/B of 2.43, which appears to command a significant premium over peers like Lincoln National, suggesting investors assign high value to the firm's specialized captive agency distribution model and its consistent, recurring renewal premium stream.
The elevated P/B multiple relative to the broader life insurance peer group indicates that the market views Globe Life's niche focus as a durable competitive advantage rather than a temporary pricing dynamic. This valuation suggests that investors expect the company to maintain superior underwriting margins, though the modest revenue growth warrants caution regarding the sustainability of this premium multiple if market saturation continues.
As reported in quarterly financial statements, the combined ratio has remained consistently below 80%, with a peak of 78.8% in 2025Q2, demonstrating the company's ability to maintain underwriting profitability despite periodic fluctuations in mortality and morbidity claims within its core blue-collar demographic.
The stability of the combined ratio suggests that Globe Life's pricing discipline effectively offsets the inherent volatility of its life and supplemental health segments. While the loss ratio has shown variance, the company's ability to keep the combined ratio well within profitable territory implies a robust actuarial framework that supports long-term earnings predictability.
According to recent financial filings, the company maintains a D/E ratio of approximately 0.46, which appears significantly more conservative than industry peers, providing a robust capital cushion that supports the firm's ongoing solvency requirements and its ability to navigate potential mortality shocks.
The low leverage profile suggests that Globe Life prioritizes balance sheet strength, which is essential given the long-tail nature of its life insurance liabilities. This conservative stance appears to provide management with the flexibility to continue its aggressive capital return strategy while maintaining sufficient regulatory capital to support its captive agency operations.
Investors frequently misapply the P/E ratio to Globe Life, failing to account for the significant impact of non-cash actuarial adjustments and deferred acquisition cost amortization on reported net income, which can distort the true underlying profitability of the firm's core insurance operations.
Relying on P/E ratios obscures the volatility inherent in reserve development and investment income, which are critical components of an insurer's economic reality. Analysts should instead prioritize the combined ratio and P/B as more reliable indicators of underwriting quality and franchise value, as these metrics are less susceptible to the accounting noise that often plagues earnings-based valuation multiples.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying GL stock.
Globe Life Inc.'s current P/E ratio is 12.6x. The historical average is 12.3x. This places it at the 53th percentile of its historical range.
Globe Life Inc.'s current EV/EBITDA is 10.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.1x.
Globe Life Inc.'s return on equity (ROE) is 20.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 14.8%.
Based on historical data, Globe Life Inc. is trading at a P/E of 12.6x. This is at the 53th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Globe Life Inc.'s current dividend yield is 0.60% with a payout ratio of 7.4%.
Globe Life Inc. has 33.4% gross margin and 24.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Globe Life Inc.'s Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.