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Data as of Q2 2026
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How management deployed cash over 2 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: -295%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 2 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
Leverage ratios is not shown for an insurer.
Funded by policyholder float, not debt. Reserve adequacy and RBC are the right questions and are not collected yet. Equity is negative, so debt/equity and ROE invert their signs and read as the opposite of what they mean.
Classified from the filings: SIC code.
How much the company owes, how it's trended, and how comfortably it's serviced.
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $34.7M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
A reverse discounted cash flow is not shown for an insurer.
Funded by policyholder float, not debt. Reserve adequacy and RBC are the right questions and are not collected yet. Equity is negative, so debt/equity and ROE invert their signs and read as the opposite of what they mean.
Classified from the filings: SIC code.
EOD close · as of 2026-10-21
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 |
|---|---|---|
| Revenue | $387.6M 100.0% | $254.9M 100.0% |
| Cost of Revenue | $6.7M 1.7% | $6.5M 2.6% |
| Selling, General & Admin | $39.6M 10.2% | $22.4M 8.8% |
| Total Operating Expenses | $314.7M 81.2% | $206.2M 80.9% |
| Operating Income | $72.9M 18.8% | $48.7M 19.1% |
| Interest & Investment Income | $5.8M 1.5% | $5.6M 2.2% |
| Other Income (Expense), net | $2.8M 0.7% | $5.2M 2.0% |
| Pretax Income | $75.7M 19.5% | $53.9M 21.2% |
| Income Tax Expense | $4.6M 1.2% | $5.1M 2.0% |
| Net Income | $71.2M 18.4% | $48.8M 19.2% |
| Per Share | ||
| EPS (Basic) | $4.31 | $3.05 |
| EPS (Diluted) | $1.22 | $0.85 |
| Weighted Avg Shares (Basic) | 16.5M | 16.0M |
| Weighted Avg Shares (Diluted) | 58.4M | 57.6M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-21
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -295% against ROIC -295% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2024 | FY2025 |
|---|---|---|
| Cost of Revenue | 2.6 | 1.7 |
| SG&A | 8.8 | 10.2 |
| Operating Income | 19.1 | 18.8 |
| Income Tax | 2.0 | 1.2 |
| Net Income | 19.2 | 18.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on LIFE: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Ranked against 11 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MRSH | $90.9B | 22.6× | 16.4× | 3.4× | 10.3% | — | 15.4% | 27.2% | 11.9% | 2.6× | 1,444 |
| AJG | $66.2B | 45.0× | — | 4.8× | 20.7% | — | 10.7% | 6.4% | 4.1% | — | 1,242 |
| AON | $62.4B | 17.3× | 16.9× | 3.6× | 9.4% | — | 21.5% | 39.5% | 15.0% | 3.1× | 1,212 |
| WTW | $29.5B | 19.5× | 13.3× | 3.0× | -2.2% | — | 16.5% | 20.1% | 11.2% | 1.3× | 667 |
| BRO | $23.6B | 22.3× | — | 4.0× | 22.8% | — | 17.9% | 8.4% | 5.2% | — | 777 |
| ACT | $6.3B | 10.1× | — | 5.1× | 2.8% | — | 54.6% | 12.6% | 11.1% | — | 242 |
| BWIN | $4.5B | — | 21.7× | 3.0× | 8.3% | — | -2.2% | -5.6% | -5.5% | -0.6× | 226 |
| CRVL | $4.1B | 37.7× | — | 4.3× | 7.0% | 24.3% | 11.5% | 28.0% | 28.0% | — | 279 |
| LIFE | $2.9B | 36.3× | 35.5× | 7.4× | 52.0% | 98.3% | 18.4% | -295% | -295% | -1.2× | 72 |
| TWFG | $1.4B | 49.8× | 23.0× | 5.7× | 22.0% | — | 16.6% | 49.4% | 47.1% | -2.8× | 80 |
| GSHD | $1.1B | 43.6× | 15.6× | 3.0× | 16.2% | — | 7.6% | -29.1% | 14.1% | 3.0× | 224 |
| WDH | $363M | 50.5× | 5.5× | 0.6× | 49.8% | — | 14.2% | 11.0% | 10.9% | -1.1× | 39 |
Peers = companies sharing LIFE's sector (Insurance Agents, Brokers & Service) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Cost of capital cannot be computed, so the spread is unknown.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2024 | 97.4% | 19.1% | 19.2% |
| FY2025 | 98.3% | 18.8% | 18.4% |
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: wacc.
Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: 3 years of cash flow.
Leverage is not measurable this way for a insurer.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Funded by policyholder float, not debt. Reserve adequacy and RBC are the right questions and are not collected yet. Equity is negative, so debt/equity and ROE invert their signs and read as the opposite of what they mean.
Missing from our data, so excluded from this answer: capital adequacy metrics for this archetype.
At $44.22, free cash flow must compound 26.77%/yr for 10 years. It has no positive compounding record to compare against.
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-16 | 13 co-filers CEO and Secretary | Other | 40,000 | — | — |
| 2026-10-16 | 13 co-filers CEO and Secretary | 10b5-1 plan sale | 34,468 | $37.68 | $1.3m |
| 2026-10-16 | 13 co-filers CEO and Secretary | 10b5-1 plan sale | 5,532 | $38.32 | $212k |
| 2026-10-16 | 13 co-filers CEO and Secretary | Other | 40,000 | $0.00 | $0 |
| 2026-10-15 | 5 co-filers President | Other | 118,333 | — | — |
| 2026-10-15 | 5 co-filers President | 10b5-1 plan sale | 22,669 | $37.64 | $853k |
| 2026-10-15 | 5 co-filers President | 10b5-1 plan sale | 94,864 | $38.52 | $3.7m |
| 2026-10-15 | 13 co-filers CEO and Secretary | Other | 40,000 | — | — |
| 2026-10-15 | 5 co-filers President | 10b5-1 plan sale | 800 | $39.14 | $31k |
| 2026-10-15 | 5 co-filers President | Other | 118,333 | $0.00 | $0 |
| 2026-10-15 | 13 co-filers CEO and Secretary | 10b5-1 plan sale | 8,165 | $37.64 | $307k |
| 2026-10-15 | 13 co-filers CEO and Secretary | 10b5-1 plan sale | 31,435 | $38.52 | $1.2m |
| 2026-10-15 | 13 co-filers CEO and Secretary | 10b5-1 plan sale | 400 | $39.12 | $16k |
| 2026-10-15 | 13 co-filers CEO and Secretary | Other | 40,000 | $0.00 | $0 |
| 2026-10-14 | 13 co-filers CEO and Secretary | Other | 40,000 | — | — |
| 2026-10-14 | 13 co-filers CEO and Secretary | 10b5-1 plan sale | 31,900 | $38.94 | $1.2m |
| 2026-10-14 | 13 co-filers CEO and Secretary | 10b5-1 plan sale | 8,100 | $39.58 | $321k |
| 2026-10-14 | 13 co-filers CEO and Secretary | Other | 40,000 | $0.00 | $0 |
| 2026-09-18 | 14 co-filers CEO and Secretary | Other | 23,333 | — | — |
| 2026-09-18 | 14 co-filers CEO and Secretary | 10b5-1 plan sale | 7,190 | $35.98 | $259k |
| 2026-09-18 | 14 co-filers CEO and Secretary | 10b5-1 plan sale | 9,648 | $37.05 | $357k |
| 2026-09-18 | 14 co-filers CEO and Secretary | 10b5-1 plan sale | 6,495 | $37.52 | $244k |
| 2026-09-18 | 14 co-filers CEO and Secretary | Other | 23,333 | $0.00 | $0 |
| 2026-09-17 | 5 co-filers President | Other | 118,333 | — | — |
| 2026-09-17 | 5 co-filers President | 10b5-1 plan sale | 7,431 | $38.36 | $285k |
| 2026-09-17 | 5 co-filers President | 10b5-1 plan sale | 110,587 | $39.00 | $4.3m |
| 2026-09-17 | 14 co-filers CEO and Secretary | Other | 23,333 | — | — |
| 2026-09-17 | 5 co-filers President | 10b5-1 plan sale | 315 | $39.67 | $12k |
| 2026-09-17 | 14 co-filers CEO and Secretary | 10b5-1 plan sale | 1,900 | $37.69 | $72k |
| 2026-09-17 | 5 co-filers President | Other | 118,333 | $0.00 | $0 |
| 2026-09-17 | 14 co-filers CEO and Secretary | 10b5-1 plan sale | 21,118 | $38.94 | $822k |
| 2026-09-17 | 14 co-filers CEO and Secretary | 10b5-1 plan sale | 315 | $39.67 | $12k |
| 2026-09-17 | 14 co-filers CEO and Secretary | Other | 23,333 | $0.00 | $0 |
| 2026-09-16 | 14 co-filers CEO and Secretary | Other | 23,334 | — | — |
| 2026-09-16 | 14 co-filers CEO and Secretary | 10b5-1 plan sale | 21,363 | $39.77 | $850k |
| 2026-09-16 | 14 co-filers CEO and Secretary | 10b5-1 plan sale | 1,971 | $40.35 | $80k |
| 2026-09-16 | 14 co-filers CEO and Secretary | Other | 23,334 | $0.00 | $0 |
| 2026-09-08 | 120 co-filers Group filing | Otherindirect | 1,605,456 | $0.00 | $0 |
| 2026-09-08 | Botha Roelof Director | Otherindirect | 72,450 | $0.00 | $0 |
| 2026-09-08 | 120 co-filers Group filing | Otherindirect | 67,599 | $0.00 | $0 |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.