Globe Life (GL) FY2016 results: revenue $3.9 billion, up 4.5% on the year
Globe Life Inc. (GL) reported revenue of $3.9 billion for fiscal 2016, the year ended 31 December 2016, up 4.5% on the year before. Net income was $550 million, up 4.3%, and diluted earnings per share $4.49. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2017.
Revenue
$3.9 billion
+4.5% on the year
FY2009FY2016
Operating margin
20.0%
20.6% a year earlier
FY2009FY2016
Net income
$550 million
+4.3% on the year
FY2009FY2016
Diluted EPS
$4.49
+7.9% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,935
3,766
3,620
+4.5%
Gross profit
783
775
761
+1.0%
Gross margin
19.9%
20.6%
21.0%
Operating income
787
776
772
+1.4%
Operating margin
20.0%
20.6%
21.3%
Interest expense
83.3
76.6
76.1
+8.7%
Pre-tax income
772
766
785
+0.8%
Income tax
233
250
257
-6.9%
Effective tax rate
30.1%
32.6%
32.7%
Net income
550
527
543
+4.3%
Net margin
14.0%
14.0%
15.0%
Diluted EPS
$4.49
$4.16
$4.09
+7.9%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,399
1,120
865
+24.9%
Capital expenditure
25.2
37.0
19.4
-31.9%
Free cash flow
1,374
1,083
845
+26.8%
Free cash flow margin
34.9%
28.8%
23.4%
Cash from investing
-1,062
-633
-350
Cash from financing
-320
-526
-500
Depreciation
10.0
8.0
7.4
+25.0%
Share-based compensation
26.3
28.7
32.2
-8.2%
Buybacks
405
419
449
-3.3%
Dividends paid
66.9
66.9
65.0
+0.0%
Dividend per share
$0.56
$0.54
$0.51
+3.7%
Diluted shares, weighted
122m
127m
133m
-3.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,567
4,056
4,697
+12.6%
Debt
1,398
1,234
1,231
+13.3%
Other liabilities
15,472
14,564
14,344
+6.2%
Total liabilities and equity
21,436
19,853
20,272
+8.0%
Goodwill
442
442
442
0.0%
Investments
72.0
54.8
15.9
+31.5%
Cash and equivalents
76.2
61.4
66.0
+24.1%
Other assets
20,846
19,295
19,749
+8.0%
Total assets
21,436
19,853
20,272
+8.0%
10-K for the year ended 31 December 2016, filed 27 February 2017: the filing.