Globe Life (GL) FY2015 results: revenue $3.8 billion, up 4.0% on the year
Globe Life Inc. (GL) reported revenue of $3.8 billion for fiscal 2015, the year ended 31 December 2015, up 4.0% on the year before. Net income was $527 million, down 2.9%, and diluted earnings per share $4.16. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$3.8 billion
+4.0% on the year
FY2008FY2015
Operating margin
20.6%
21.3% a year earlier
FY2008FY2015
Net income
$527 million
-2.9% on the year
FY2008FY2015
Diluted EPS
$4.16
+1.7% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,766
3,620
3,494
+4.0%
Gross profit
775
761
747
+1.8%
Gross margin
20.6%
21.0%
21.4%
Operating income
776
772
756
+0.6%
Operating margin
20.6%
21.3%
21.6%
Interest expense
76.6
76.1
80.5
+0.7%
Pre-tax income
766
785
755
-2.4%
Income tax
250
257
248
-2.6%
Effective tax rate
32.6%
32.7%
32.8%
Net income
527
543
528
-2.9%
Net margin
14.0%
15.0%
15.1%
Diluted EPS
$4.16
$4.09
$3.79
+1.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,120
865
1,119
+29.5%
Capital expenditure
37.0
19.4
11.2
+90.8%
Free cash flow
1,083
845
1,108
+28.1%
Free cash flow margin
28.8%
23.4%
31.7%
Cash from investing
-633
-350
-614
Cash from financing
-526
-500
-536
Depreciation
8.0
7.4
6.4
+8.1%
Share-based compensation
28.7
32.2
25.6
-11.0%
Buybacks
419
449
482
-6.9%
Dividends paid
66.9
65.0
60.9
+2.9%
Dividend per share
$0.54
$0.51
$0.45
+5.9%
Diluted shares, weighted
127m
133m
140m
-4.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,056
4,697
3,776
-13.7%
Short-term borrowings
n/a
n/a
229
Debt
1,234
1,231
991
+0.3%
Other liabilities
14,564
14,344
13,195
+1.5%
Total liabilities and equity
19,853
20,272
18,192
-2.1%
Goodwill
442
442
442
0.0%
Investments
54.8
15.9
76.9
+244.8%
Cash and equivalents
61.4
66.0
36.9
-7.0%
Other assets
19,295
19,749
17,636
-2.3%
Total assets
19,853
20,272
18,192
-2.1%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.