Globe Life Stock Fair Value – GLOBE LIFE Reports Record Earnings for FY2023 Q2
August 9, 2023
🌥️Earnings Overview
On July 26 2023, GLOBE LIFE ($NYSE:GL) announced its financial results for the second quarter of FY2023, ending June 30 2023. Total revenue for that period was USD 1326.4 million, a 2.6% increase compared to the same period in the prior year. Net income was reported to be USD 215.3 million, a 21.6% year-over-year increase.
Stock Price
On Wednesday, GLOBE LIFE, an insurance company, reported record earnings for the second quarter of FY2023. The stock opened at $114.0 and closed at $114.0, down by a slight 0.1% from the prior closing price of 114.1. The company’s success is attributed to its focus on customer satisfaction and its robust digital platform, which allows customers to manage their policies online.
Additionally, the company has been investing heavily in digital technologies to create a more efficient and secure customer experience. Overall, GLOBE LIFE has had a successful fiscal year, with record earnings for the second quarter. The company’s strong performance is expected to continue into the third and fourth quarters due to its focus on customer satisfaction, digital investments, and its overall commitment to excellence. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Globe Life. More…
| Total Revenues | Net Income | Net Margin |
| 5.26k | 837.21 | 16.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Globe Life. More…
| Operations | Investing | Financing |
| 1.5k | -943.01 | -492.45 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Globe Life. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 26.86k | 23.01k | 40.25 |
Key Ratios Snapshot
Some of the financial key ratios for Globe Life are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.6% | – | 21.4% |
| FCF Margin | ROE | ROA |
| 28.0% | 18.3% | 2.6% |
Analysis – Globe Life Stock Fair Value
At GoodWhale, we have taken a close look at GLOBE LIFE‘s financials and are pleased to share our findings with you. Our proprietary Valuation Line suggests that the intrinsic value of GLOBE LIFE’s share is around $104.6. Currently, the stock is trading at $114.0, which means it is overvalued by 9.0%. We believe that this stock is trading at a fair price, but it is slightly overvalued at the moment. More…
Peers
The company’s products include term life, whole life, and universal life insurance policies. Globe Life‘s competitors include China Life Insurance Co Ltd, CIG Pannonia Life Insurance OJSC, PT Asuransi Jiwa Sinarmas MSIG Tbk, and other life insurance companies.
– China Life Insurance Co Ltd ($SHSE:601628)
China Life Insurance Co Ltd is a life insurance company with a market cap of 677.9B as of 2022. The company has a ROE of 4.62%. The company operates in China and offers a variety of life insurance products including health, accident, and property insurance.
– CIG Pannonia Life Insurance OJSC ($LTS:0P2E)
CIG Pannonia Life Insurance OJSC is a insurance company with a market cap of 12.54B as of 2022. The company has a Return on Equity of 11.51%. The company provides insurance products and services to individuals and businesses in the areas of life, health, property and casualty, and reinsurance.
– PT Asuransi Jiwa Sinarmas MSIG Tbk ($IDX:LIFE)
Asuransi Jiwa Sinarmas MSIG Tbk is a life insurance company with a market cap of 13.02T as of 2022. The company offers a range of life insurance products and services including life, health, and accident insurance.
Summary
GLOBE LIFE has reported strong financial results for the second quarter of FY2023. Total revenue has increased by 2.6%, to USD 1326.4 million, while reported net income rose by 21.6%, to USD 215.3 million. This is a positive sign for potential investors, reflecting growth in the company’s operations. Looking ahead, the company’s future performance will be key to determining the success of any investment, and investors should monitor company updates for any signs of continuing growth.
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