Globe Life (GL) FY2017 results: revenue $4.2 billion, up 5.6% on the year
Globe Life Inc. (GL) reported revenue of $4.2 billion for fiscal 2017, the year ended 31 December 2017, up 5.6% on the year before. Net income was $1.5 billion, up 164.6%, and diluted earnings per share $12.22. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$4.2 billion
+5.6% on the year
FY2010FY2017
Operating margin
19.8%
20.0% a year earlier
FY2010FY2017
Net income
$1.5 billion
+164.6% on the year
FY2010FY2017
Diluted EPS
$12.22
+172.2% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
4,156
3,935
3,766
+5.6%
Gross profit
807
783
775
+3.1%
Gross margin
19.4%
19.9%
20.6%
Operating income
821
787
776
+4.3%
Operating margin
19.8%
20.0%
20.6%
Interest expense
84.5
83.3
76.6
+1.4%
Pre-tax income
831
772
766
+7.6%
Income tax
-628
233
250
Effective tax rate
-75.6%
30.1%
32.6%
Net income
1,454
550
527
+164.6%
Net margin
35.0%
14.0%
14.0%
Diluted EPS
$12.22
$4.49
$4.16
+172.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,429
1,399
1,120
+2.2%
Capital expenditure
20.3
25.2
37.0
-19.4%
Free cash flow
1,409
1,374
1,083
+2.6%
Free cash flow margin
33.9%
34.9%
28.8%
Cash from investing
-927
-1,062
-633
Cash from financing
-454
-320
-526
Depreciation
11.0
10.0
8.0
+10.0%
Share-based compensation
37.0
26.3
28.7
+40.7%
Buybacks
413
405
419
+2.0%
Dividends paid
68.8
66.9
66.9
+2.8%
Dividend per share
$0.60
$0.56
$0.54
+7.1%
Diluted shares, weighted
119m
122m
127m
-2.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
6,231
4,567
4,056
+36.4%
Debt
1,460
1,398
1,234
+4.5%
Other liabilities
15,783
15,472
14,564
+2.0%
Total liabilities and equity
23,475
21,436
19,853
+9.5%
Goodwill
442
442
442
0.0%
Investments
127
72.0
54.8
+76.4%
Cash and equivalents
119
76.2
61.4
+55.7%
Other assets
22,788
20,846
19,295
+9.3%
Total assets
23,475
21,436
19,853
+9.5%
10-K for the year ended 31 December 2017, filed 27 February 2018: the filing.