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Globe Life cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$311M in Q3 2026 · $1.3B over twelve months

Operating cash flow$326M
Capital spending−$14.9M
Free cash flow+$311M
Cash / net income0.9×

Analysis

In Q3 2026, Globe Life generated $326M of operating cash flow and spent $14.9M on capital projects, leaving free cash flow of $311M. That is $102M more than in Q3 2025 ($209M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.4B; the largest uses were buybacks ($925M), other investing ($869M), dividends ($94.2M); besides operations, cash came from net borrowing (+) / repaid (−) ($350M), shares issued ($152M); the cash balance fell by $44.8M.

Operating cash flow was $326M against net income of $361M — 0.9× profit, roughly in line with earnings. The largest differences: stock-based pay +$15.4M.

Free cash flow

Globe Life: free cash flow by quarterGlobe Life: free cash flow by quarter$322MQ4 2024$420MQ1 2025$295MQ2 2025$209MQ3 2025$330MQ4 2025$396MQ1 2026$298MQ2 2026$311MQ3 2026
Operating cash flow less capital spending.
Globe Life: operating cash flow against capital spendingGlobe Life: operating cash flow against capital spendingOperating cash flowCapital spending$337M$15.0MQ4 2024$432M$11.7MQ1 2025$308M$12.9MQ2 2025$306M$97.3MQ3 2025$351M$20.5MQ4 2025$421M$24.9MQ1 2026$314M$16.5MQ2 2026$326M$14.9MQ3 2026
Latest (Q3 2026): Operating cash flow $326M, Capital spending $14.9M.

Capital allocation, year by year

Globe Life: where the cash came from (up) and went (down), by fiscal yearGlobe Life: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $1.4BFY2021: Net borrowing $100MFY2021: Shares issued $140MFY2021: Capital spending −$38.2MFY2021: Buybacks −$541MFY2021: Dividends −$80.0M$1.7BFY2021FY2022: Operating cash flow $1.4BFY2022: Net borrowing $7.9MFY2022: Shares issued $213MFY2022: Capital spending −$27.9MFY2022: Buybacks −$455MFY2022: Dividends −$80.5M$1.6BFY2022FY2023: Operating cash flow $1.5BFY2023: Net borrowing $70.3MFY2023: Shares issued $228MFY2023: Capital spending −$49.6MFY2023: Buybacks −$511MFY2023: Dividends −$84.1M$1.8BFY2023FY2024: Operating cash flow $1.4BFY2024: Net borrowing $629MFY2024: Shares issued $104MFY2024: Capital spending −$71.0MFY2024: Buybacks −$1.0BFY2024: Dividends −$85.5M$2.1BFY2024FY2025: Operating cash flow $1.4BFY2025: Net borrowing −$111MFY2025: Shares issued $329MFY2025: Capital spending −$142MFY2025: Buybacks −$881MFY2025: Dividends −$86.1M$1.7BFY2025
Over these 5 years operating cash flow totalled $7.1B; the largest uses were buybacks ($3.4B) and dividends ($416M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$353M
Debt$3.0B
Net debt$2.6B
Due within a year$306M

Globe Life funds itself: free cash flow was $1.3B over the last twelve months, and $353M of cash and investments stands against $3.0B of debt ($306M due within a year, 1.2× covered by cash).

Globe Life: debt maturities by year (FY2025)Globe Life: debt maturities by year (FY2025)$306MYear 1$250MYear 2$550MYear 3$400MYear 5$1.1BAfter year 5
Principal due in each year as disclosed in the annual report, against $353M of cash and investments now.

Where the cash came from and went

Globe Life: sources (+) and uses (−) of cash, Q3 2026Globe Life: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$326MBuybacks−$218MOther investing−$112MNet borrowing (+) / repaid (−)$29.7MDividends−$25.4MShares issued$24.4MCapital spending−$14.9MOther financing−$7.5MExchange rates−$1.1MCash drawn (+) / kept (−)−$867K
Globe Life: sources (+) and uses (−) of cash, TTM to Q3 2026Globe Life: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.4BBuybacks−$925MOther investing−$869MNet borrowing (+) / repaid (−)$350MShares issued$152MDividends−$94.2MCapital spending−$76.9MCash drawn (+) / kept (−)$44.8MExchange rates$5.4MOther financing$1.8M

From profit to cash

Globe Life: net income to operating cash flow, Q3 2026Globe Life: net income to operating cash flow, Q3 2026Net income$361MStock-based pay$15.4MOperating cash flow$326M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$326M−$14.9M−$218M−$25.4M$29.7M$24.4M−$867K$311M
Q2 2026$314M−$16.5M−$275M−$25.7M−$179M$87.6M−$1.8M$298M
Q1 2026$421M−$24.9M−$240M−$21.4M$152M$21.4M−$111M$396M
Q4 2025$351M−$20.5M−$192M−$21.7M−$24.7M$18.9M$158M$330M
Q3 2025$306M−$97.3M−$174M−$21.9M−$65.2M$52.2M−$63.6M$209M
Q2 2025$308M−$12.9M−$250M−$22.4M−$12.4M$12.0M−$6.9M$295M
Q1 2025$432M−$11.7M−$265M−$20.1M−$8.5M$81.4M−$66.9M$420M
Q4 2024$337M−$15.0M−$51.7M−$20.2M−$5.0M$16.9M−$30.8M$322M

Globe Life: income statement and cash flow

Globe Life, Q3 2026: revenue $1.6B (+6% year over year), operating margin 27.6%. The chart follows the revenue to costs, profit and cash.

Globe Life: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.