Globe Life (GL) FY2018 results: revenue $4.3 billion, up 3.6% on the year
Globe Life Inc. (GL) reported revenue of $4.3 billion for fiscal 2018, the year ended 31 December 2018, up 3.6% on the year before. Net income was $701 million, down 51.8%, and diluted earnings per share $6.09. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$4.3 billion
+3.6% on the year
FY2011FY2018
Operating margin
20.2%
19.8% a year earlier
FY2011FY2018
Net income
$701 million
-51.8% on the year
FY2011FY2018
Diluted EPS
$6.09
-50.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
4,304
4,156
3,935
+3.6%
Gross profit
865
807
783
+7.2%
Gross margin
20.1%
19.4%
19.9%
Operating income
871
821
787
+6.0%
Operating margin
20.2%
19.8%
20.0%
Interest expense
90.1
84.5
83.3
+6.6%
Pre-tax income
864
831
772
+4.0%
Income tax
162
-628
233
Effective tax rate
18.8%
-75.6%
30.1%
Net income
701
1,454
550
-51.8%
Net margin
16.3%
35.0%
14.0%
Diluted EPS
$6.09
$12.22
$4.49
-50.2%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,278
1,429
1,399
-10.6%
Capital expenditure
45.1
20.3
25.2
+122.3%
Free cash flow
1,233
1,409
1,374
-12.5%
Free cash flow margin
28.6%
33.9%
34.9%
Cash from investing
-896
-927
-1,062
Cash from financing
-392
-454
-320
Depreciation
13.0
11.0
10.0
+18.2%
Share-based compensation
39.8
37.0
26.3
+7.4%
Buybacks
422
413
405
+2.1%
Dividends paid
71.4
68.8
66.9
+3.8%
Dividend per share
$0.64
$0.60
$0.56
+6.7%
Diluted shares, weighted
115m
119m
122m
-3.1%
Shares outstanding at period end
121m
n/a
n/a
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
5,415
6,231
4,567
-13.1%
Debt
1,665
1,460
1,398
+14.0%
Other liabilities
16,016
15,783
15,472
+1.5%
Total liabilities and equity
23,096
23,475
21,436
-1.6%
Goodwill
442
442
442
0.0%
Investments
63.3
127
72.0
-50.2%
Cash and equivalents
121
119
76.2
+2.1%
Other assets
22,470
22,788
20,846
-1.4%
Total assets
23,096
23,475
21,436
-1.6%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.