Globe Life (GL) FY2021 results: revenue $5.1 billion, up 7.9% on the year
Globe Life Inc. (GL) reported revenue of $5.1 billion for fiscal 2021, the year ended 31 December 2021, up 7.9% on the year before. Net income was $1.0 billion, up 40.9%, and diluted earnings per share $9.99. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.
Revenue
$5.1 billion
+7.9% on the year
FY2014FY2021
Operating margin
24.0%
19.1% a year earlier
FY2014FY2021
Net income
$1.0 billion
+40.9% on the year
FY2014FY2021
Diluted EPS
$9.99
+46.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,438
1,476
1,364
-2.6%
Capital expenditure
38.2
41.8
42.2
-8.4%
Free cash flow
1,399
1,435
1,322
-2.5%
Free cash flow margin
27.4%
30.3%
29.2%
Cash from investing
-913
-1,182
-809
Cash from financing
-524
-274
-591
Depreciation
20.0
17.0
16.0
+17.6%
Share-based compensation
30.3
35.9
44.8
-15.7%
Buybacks
541
444
460
+22.0%
Dividends paid
80.0
78.2
74.2
+2.4%
Dividend per share
$0.79
$0.75
$0.69
+5.3%
Diluted shares, weighted
103m
107m
111m
-3.8%
Shares outstanding at period end
109m
113m
117m
-3.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,004
8,771
7,294
-77.2%
Debt
2,026
1,923
1,648
+5.4%
Other liabilities
25,738
18,353
17,035
+40.2%
Total liabilities and equity
29,768
29,047
25,977
+2.5%
Goodwill
482
442
442
+9.1%
Investments
69.1
108
38.3
-35.8%
Cash and equivalents
92.2
94.8
75.9
-2.8%
Other assets
29,125
28,403
25,422
+2.5%
Total assets
29,768
29,047
25,977
+2.5%
10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.