Loews Corporation (L) 10-Year Financial Performance & Capital Metrics

L • • Insurance & Managed Care

Financial ServicesProperty & Casualty InsuranceCommercial Lines InsuranceDiversified Commercial Lines

AboutLoews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages. It also provides loss-sensitive insurance programs; and warranty, risk management, information, and claims administration services. The company markets its insurance products and services through independent agents, brokers, and managing general underwriters. In addition, the company is involved in the transportation and storage of natural gas and natural gas liquids(NGLs), and hydrocarbons through natural gas pipelines covering approximately 13,615 miles of interconnected pipelines; 450 miles of NGL pipelines in Louisiana and Texas; 14 underground storage fields with an aggregate gas capacity of approximately 213 billion cubic feet of natural gas; and eleven salt dome caverns and related brine infrastructure for providing brine supply services. Further, the company operates a chain of 26 hotels; and develops, manufactures, and markets a range of extrusion blow-molded and injection molded plastic containers for customers in the pharmaceutical, dairy, household chemicals, food/nutraceuticals, industrial/specialty chemicals, and water and beverage/juice segments, as well as manufactures commodity and differentiated plastic resins from recycled plastic materials. Loews Corporation was incorporated in 1969 and is headquartered in New York, New York.Show more

Revenue $17.24B +10.0%
Combined Ratio 89.13% +2.1%
Net Income $1.41B -1.4%
Return on Equity 8.21% -9.2%
Medical Cost Ratio 55.32% -0.5%
Operating Margin 10.87% -14.6%
Net Margin 8.2% -10.3%
ROA 1.75% -5.3%
Equity / Assets 21.89% +4.9%
Book Value per Share 81.34 +12.1%
Tangible BV/Share 79.10 +12.4%
Debt/Equity 0.50 -8.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 89.1% combined ratio
✓Strong Piotroski F-Score: 7/9
✓Low loss ratio of 55.3%
✓Share count reduced 3.2% through buybacks
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.87%

5Y3.2%

3Y7.89%

TTM6.04%

Profit (Net Income) CAGR

10Y9.12%

5Y8.69%

3Y-3.26%

TTM-13.21%

EPS CAGR

10Y15.25%

5Y15.86%

3Y2.23%

TTM22.78%

ROCE

10Y Avg1.46%

5Y Avg1.44%

3Y Avg2.11%

Latest2.33%

Peer Comparison

Diversified Commercial Lines

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIGISelective Insurance Group, Inc.	5.01B	82.97	25.69	14.87%	7.78%	11.65%	21.33%	0.16
LLoews Corporation	21.32B	103.16	16.09	9.96%	8.07%	7.55%	11.22%	0.50
WRBW. R. Berkley Corporation	26.11B	68.71	15.76	12.32%	13.01%	19.44%	13.68%	0.34
THGThe Hanover Insurance Group, Inc.	6.05B	170.15	14.54	4.25%	9.75%	18.44%	13.15%	0.28
CBChubb Limited	118.5B	301.11	13.26	12%	16.48%	12.43%	13.66%	0.22
CNACNA Financial Corporation	12.56B	46.42	13.19	6.66%	6.84%	8.81%	19.71%	0.28
TRVThe Travelers Companies, Inc.	60.53B	271.34	12.64	12.22%	12.13%	18.58%	14.99%	0.29
AFGAmerican Financial Group, Inc.	11B	131.90	12.48	7.12%	9.7%	16.87%	10.47%	0.33

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	13.41B	13.11B	13.73B	14.04B	14.73B	13.67B	13.73B	14.05B	15.68B	17.24B
Revenue Growth %	-0.06%	-0.02%	0.05%	0.02%	0.05%	-0.07%	0%	0.02%	0.12%	0.1%
Medical Costs & Claims+	6.92B	6.52B	6.54B	6.91B	7.19B	7.58B	7.81B	8.14B	8.71B	9.54B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	6.49B	6.59B	7.19B	7.14B	7.54B	6.09B	5.91B	5.91B	6.97B	7.7B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.12%	0.01%	0.09%	-0.01%	0.06%	-0.19%	-0.03%	-0%	0.18%	0.11%
Operating Expenses+	6.25B	5.65B	5.61B	6.3B	6.42B	7.55B	3.75B	4.79B	4.97B	5.83B
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	955M	841M	874M	912M	943M	734M	515M	509M	538M	583M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	244M	936M	1.58B	834M	1.12B	-1.46B	2.16B	1.11B	2B	1.87B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.87%	2.84%	0.69%	-0.47%	0.34%	-2.31%	2.48%	-0.48%	0.79%	-0.06%
EBITDA+	1.2B	1.78B	2.46B	1.75B	2.06B	-730M	2.67B	1.62B	2.53B	2.46B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	520M	536M	646M	574M	591M	515M	424M	378M	376M	441M
Non-Operating Income	-520M	-536M	-646M	-574M	-591M	-515M	-424M	-378M	-376M	-441M
Pretax Income+	244M	936M	1.58B	834M	1.12B	-1.46B	2.16B	1.11B	2B	1.87B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-43M	220M	170M	128M	248M	-173M	475M	223M	451M	380M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	260M	654M	1.16B	636M	932M	-931M	1.56B	822M	1.43B	1.41B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.56%	1.52%	0.78%	-0.45%	0.47%	-2%	2.68%	-0.47%	0.74%	-0.01%
EPS (Diluted)+	0.72	1.93	3.45	1.99	3.07	-3.32	6.00	3.38	6.29	6.41
EPS Growth %	-0.54%	1.68%	0.79%	-0.42%	0.54%	-2.08%	2.81%	-0.44%	0.86%	0.02%
EPS (Basic)	0.76	1.93	3.46	1.99	3.08	-3.32	6.02	3.39	6.30	6.42
Diluted Shares Outstanding	362.69M	338.31M	337.5M	319.93M	303.35M	280.32M	260.2M	243.28M	227.81M	220.53M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	76.01B	76.59B	79.59B	78.32B	82.24B	80.24B	81.63B	75.57B	79.2B	81.94B
Asset Growth %	-0.03%	0.01%	0.04%	-0.02%	0.05%	-0.02%	0.02%	-0.07%	0.05%	0.03%
Total Investment Assets+	49.4B	50.71B	52.23B	48.19B	51.25B	53.84B	53.94B	46.77B	49.37B	51.13B
Long-Term Investments	0	0	0	0	50.18B	52.68B	52.85B	45.64B	48.25B	50.02B
Short-Term Investments	44.39B	45.66B	46.13B	2.05B	46.81B	49.28B	49.23B	42.48B	5.49B	6.36B
Total Current Assets+	44.83B	0	0	2.05B	0	0	0	0	0	0
Cash & Equivalents	440M	327M	472M	405M	336M	478M	621M	532M	399M	541M
Receivables	0	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	-54.43B	-57.21B	-58.75B	-52.01B	-15.1B	-16.96B
Goodwill & Intangibles+	351M	488M	1.3B	1.28B	1.41B	1.4B	458M	457M	498M	494M
Goodwill	351M	346M	659M	665M	767M	785M	349M	346M	347M	347M
Intangible Assets	0	142M	638M	611M	647M	610M	109M	111M	151M	147M
PP&E (Net)	15.48B	15.23B	15.43B	15.51B	15.57B	10.45B	9.89B	10.03B	10.72B	10.74B
Other Assets	48.79B	50.09B	51.91B	51.13B	-67.16B	-64.53B	-63.19B	-56.13B	-59.46B	-61.25B
Total Liabilities	53.2B	53.23B	55.02B	56.93B	60.31B	61.05B	62.45B	60.37B	62.67B	64.01B
Total Debt+	10.56B	10.78B	11.53B	11.38B	11.53B	10.11B	9.08B	9.02B	9B	8.94B
Net Debt	10.12B	10.45B	11.06B	10.97B	11.2B	9.63B	8.46B	8.49B	8.6B	8.4B
Long-Term Debt	9.52B	10.67B	11.25B	11.35B	11.46B	10.07B	8.99B	8.16B	7.92B	8.94B
Short-Term Debt	1.04B	110M	280M	17M	77M	37M	93M	854M	1.08B	5M
Total Current Liabilities+	19.82B	18.19B	18.08B	17.62B	0	0	0	0	0	0
Accounts Payable	567M	150M	60M	42M	108M	92M	90M	133M	79M	110M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	18.21B	17.93B	17.74B	17.56B	-185M	-129M	-183M	-987M	-1.16B	-115M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	42.76B	41.79B	42.74B	41.28B	-16.4B	-15.16B	-14.57B	-13.12B	-13.01B	-14.02B
Total Equity+	22.81B	23.36B	24.57B	21.39B	21.93B	19.18B	19.18B	15.2B	16.52B	17.94B
Equity Growth %	-0.07%	0.02%	0.05%	-0.13%	0.03%	-0.13%	-0%	-0.21%	0.09%	0.09%
Shareholders Equity	17.56B	18.16B	19.2B	18.52B	19.12B	17.86B	17.85B	14.35B	15.7B	17.07B
Minority Interest	5.25B	5.2B	5.36B	2.87B	2.81B	1.32B	1.33B	852M	821M	871M
Retained Earnings	14.73B	15.2B	16.1B	15.77B	15.82B	14.15B	14.78B	14.93B	15.62B	16.46B
Common Stock	3M	3M	3M	3M	3M	3M	2M	2M	2M	2M
Accumulated OCI	-357M	-223M	-26M	-880M	-68M	581M	186M	-3.32B	-2.5B	-1.87B
Return on Equity (ROE)	0.01%	0.03%	0.05%	0.03%	0.04%	-0.05%	0.08%	0.05%	0.09%	0.08%
Return on Assets (ROA)	0%	0.01%	0.01%	0.01%	0.01%	-0.01%	0.02%	0.01%	0.02%	0.02%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.46x	0.46x	0.47x	0.53x	0.53x	0.53x	0.47x	0.59x	0.54x	0.50x
Book Value per Share	62.89	69.05	72.79	66.85	72.29	68.43	73.69	62.48	72.54	81.34
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.55B	2.25B	2.59B	4.22B	1.74B	1.75B	2.62B	3.31B	3.91B	3.02B
Operating CF Growth %	0.19%	-0.36%	0.15%	0.63%	-0.59%	0%	0.5%	0.26%	0.18%	-0.23%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	287M	716M	1.41B	706M	871M	-1.29B	1.69B	891M	1.54B	1.49B
Depreciation & Amortization	955M	841M	874M	912M	943M	734M	515M	509M	538M	583M
Stock-Based Compensation	14M	0	0	35M	0	0	0	0	36M	0
Deferred Taxes	-225M	102M	-47M	86M	70M	-235M	209M	-50M	127M	-45M
Other Non-Cash Items	1.25B	914M	133M	640M	68M	2.15B	-712M	396M	-47M	-87M
Working Capital Changes	1.27B	-320M	218M	1.84B	-211M	385M	926M	1.57B	1.71B	1.08B
Cash from Investing+	-1.94B	-2.19B	-2.65B	-1.44B	-671M	-1.41B	-1.19B	-2.35B	-2.75B	-1.98B
Capital Expenditures	-1.55B	-1.45B	-1.03B	-995M	-1.04B	-710M	-482M	-660M	-686M	-632M
Acquisitions	-138M	223M	-1.14B	-37M	427M	-58M	364M	-150M	-603M	-214M
Purchase of Investments	-8.68B	-9.83B	-9.06B	-11.38B	-8.66B	-10.72B	-9.75B	-10.14B	-6.99B	-6.83B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-172M	-169M	-499M	103M	-449M	-371M	-220M	-171M	-378M	-14M
Cash from Financing+	-1.52B	-166M	201M	-2.83B	-1.14B	-198M	-1.29B	-1.04B	-1.3B	-898M
Dividends Paid	-90M	-84M	-84M	-80M	-76M	-70M	-65M	-61M	-57M	-55M
Share Repurchases	-1.26B	-134M	-216M	-2.53B	-1.05B	-923M	-1.14B	-729M	-849M	-608M
Stock Issued	7M	0	0	0	0	0	0	0	0	0
Debt Issuance (Net)	-1000K	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K
Other Financing	-69M	-144M	-155M	-47M	-137M	-138M	-94M	-180M	-294M	-163M
Net Change in Cash+	76M	-113M	145M	-67M	-69M	142M	143M	-89M	-133M	142M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	364M	440M	327M	472M	405M	336M	478M	621M	532M	399M
Cash at End	440M	327M	472M	405M	336M	478M	621M	532M	399M	541M
Free Cash Flow+	1.99B	803M	1.56B	3.23B	700M	1.03B	2.14B	2.65B	3.22B	2.39B
FCF Growth %	7.41%	-0.6%	0.94%	1.07%	-0.78%	0.48%	1.07%	0.24%	0.21%	-0.26%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	5.49	2.37	4.62	10.09	2.31	3.69	8.23	10.91	14.14	10.85

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	98.18%	92.86%	88.48%	94.06%	92.4%	110.71%	84.26%	92.07%	87.27%	89.13%
Medical Cost Ratio	51.61%	49.74%	47.64%	49.18%	48.82%	55.46%	56.92%	57.96%	55.57%	55.32%
Return on Equity (ROE)	1.1%	2.83%	4.86%	2.77%	4.3%	-4.53%	8.14%	4.78%	9.04%	8.21%
Return on Assets (ROA)	0.34%	0.86%	1.49%	0.81%	1.16%	-1.15%	1.93%	1.05%	1.85%	1.75%
Equity / Assets	30.01%	30.5%	30.87%	27.31%	26.66%	23.91%	23.49%	20.12%	20.87%	21.89%
Book Value / Share	62.89	69.05	72.79	66.85	72.29	68.43	73.69	62.48	72.54	81.34
Debt / Equity	0.46x	0.46x	0.47x	0.53x	0.53x	0.53x	0.47x	0.59x	0.54x	0.50x
Revenue Growth	-6.35%	-2.31%	4.81%	2.25%	4.86%	-7.2%	0.44%	2.35%	11.59%	9.96%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
CNA Financial Corporation	9.1B	9.38B	9.58B	10.13B	10.79B	10.83B	11.91B	11.88B	13.3B	14.27B
CNA Financial Corporation Growth	-	3.11%	2.12%	5.75%	6.45%	0.36%	9.98%	-0.24%	11.95%	7.30%
Boardwalk Pipeline	1.25B	1.32B	1.32B	1.23B	1.3B	1.3B	1.35B	1.45B	1.64B	2.06B
Boardwalk Pipeline Growth	-	4.94%	0.68%	-7.40%	5.95%	0.15%	3.61%	7.19%	13.14%	26.22%
Loews Hotels	604M	667M	682M	755M	692M	278M	480M	721M	852M	933M
Loews Hotels Growth	-	10.43%	2.25%	10.70%	-8.34%	-59.83%	72.66%	50.21%	18.17%	9.51%

Frequently Asked Questions

Valuation & Price

Loews Corporation (L) has a price-to-earnings (P/E) ratio of 16.1x. This is roughly in line with market averages.

Growth & Financials

Loews Corporation (L) grew revenue by 10.0% over the past year. This is steady growth.

Yes, Loews Corporation (L) is profitable, generating $1.45B in net income for fiscal year 2024 (8.2% net margin).

Dividend & Returns

Yes, Loews Corporation (L) pays a dividend with a yield of 0.24%. This makes it attractive for income-focused investors.

Loews Corporation (L) has a return on equity (ROE) of 8.2%. This is below average, suggesting room for improvement.

Industry Metrics

Loews Corporation (L) has a combined ratio of 89.1%. A ratio below 100% indicates underwriting profitability.

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