A Business at a Glance
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LOEWS CORP
L
$24.7B
Mkt Cap
$117.90
+1.96%
LOEWS CORP (L) has a current P/E ratio of 14.8, compared to its historical median P/E of 14.0. The stock is currently considered Fair based on its historical valuation range.
LOEWS CORP (L) has a 5-year average return on invested capital (ROIC) of 5.4%. This is below average and may indicate limited pricing power.
LOEWS CORP (L) has a market capitalization of $24.3B. It is classified as a large-cap stock.
Yes, LOEWS CORP (L) pays a dividend with a trailing twelve-month yield of 0.21%. The company also returns capital through share buybacks, with a buyback yield of 1.82%.
Based on historical P/E analysis, LOEWS CORP (L) appears fair. The current P/E of 14.8 is 5% above its historical median of 14.0. The estimated fair value CAGR (P/E method) is 28.8%.
LOEWS CORP (L) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
LOEWS CORP (L) reported annual revenue of $18.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Loews Corporation is a diversified holding company with three principal consolidated operating subsidiaries: CNA Financial Corporation (approximately 92% owned), which provides commercial property and casualty insurance, surety, warranty and risk management services through independent agents, brokers and managing general underwriters to small, medium and large businesses, professionals and associations across the U.S., Canada, the U.K., Continental Europe and Lloyd's of London; Boardwalk Pipeline Partners, LP (wholly owned), which operates approximately 14,275 miles of natural gas and natural gas liquids pipelines and underground storage facilities in the Gulf Coast region and other states, providing transportation, storage and parking-and-lending services to customers throughout the U.S.; and Loews Hotels Holding Corporation (wholly owned), which operates a chain of hotels. Loews also owns approximately 53% of Altium Packaging LLC, an unconsolidated subsidiary engaged in the manufacture of rigid plastic packaging solutions. CNA's business model is built on underwriting discipline and specialized industry verticals, generating revenue through premium collection and investment income, while Boardwalk operates on a midstream infrastructure model with take-or-pay transportation contracts providing stable cash flows. The holding company structure allows Loews to maintain strategic control over diversified revenue streams across insurance, energy infrastructure and hospitality, with geographic and operational diversification reducing concentration risk.
【Insurance pricing momentum continuing】 Management expects CNA to maintain strong pricing discipline in commercial lines, with commercial auto rates improving and quality new business opportunities anticipated to persist given strengthened industry verticals and specialized underwriting expertise. The company anticipates securing renewal business at higher prices while reflecting strong underwriting performance, and expects to capitalize on opportunities in target classes across commercial segments. Boardwalk's natural gas transportation contracts operate on a take-or-pay basis, providing revenue stability despite commodity market volatility, and long-term natural gas demand is expected to increase over the coming decades as energy transition accelerates in various countries. CNA's expense ratio is expected to remain around 31% as a reasonable run rate, with some quarter-to-quarter variability anticipated.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2022 Earnings Call, Q1 FY2022 Earnings Call, Q4 FY2021 Earnings Call
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Transportation and storage of natural gas and NGLs and ethane supply and transportation services – Boardwalk Pipelines | — | $1.40B | $1.58B | $1.99B | $2.26B | 48% |
Non-insurance warranty – CNA Financial | $1.43B | $1.57B | $1.62B | $1.61B | $1.58B | 33% |
Lodging and related services – Loews Hotels & Co | $419M | $689M | $778M | $906M | $911M | 19% |
Operating Segments | $1.43B | $1.57B | $1.62B | — | — | — |
Transportation and storage of natural gas and NGLs and other services – Boardwalk Pipelines | $1.31B | — | — | — | — | — |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 18.5B | 18.5B | 17.5B | 15.9B | 14.0B | 14.7B |
| Net Income | 1.6B | 1.7B | 1.4B | 1.4B | 822M | 1.6B |
| EPS | $7.75 | $7.97 | $6.41 | $6.29 | $3.38 | $6.00 |
| Free Cash Flow | 1.9B | 2.7B | 2.4B | 3.2B | 2.7B | 2.1B |
| ROIC | 5.9% | 6.3% | 5.7% | 6.2% | 3.3% | 5.7% |
| Gross Margin | - | 12.4% | 10.7% | 12.6% | 7.9% | 14.7% |
| Debt/Equity | 0.48 | 0.51 | 0.52 | 0.57 | 0.63 | 0.51 |
| Dividends/Share | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 | $0.25 |
| Operating Income | 108M | 105M | 98M | 95M | 113M | 128M |
| Operating Margin | 0.6% | 0.6% | 0.6% | 0.6% | 0.8% | 0.9% |
| ROE | 8.7% | 9.3% | 8.6% | 9.5% | 5.1% | 8.7% |
| Shares Outstanding | 206M | 209M | 221M | 228M | 243M | 260M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 14.3B | 13.4B | 13.1B | 13.7B | 14.1B | 14.9B | 12.6B | 14.7B | 14.0B | 15.9B | 17.5B | 18.5B | 18.5B |
| Gross Margin | 12.6% | 1.8% | 57.6% | 59.2% | 53.8% | 53.9% | N/A | 14.7% | 7.9% | 12.6% | 10.7% | 12.4% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 1.8B | 244M | 77M | 89M | 101M | 68M | 113M | 128M | 113M | 95M | 98M | 105M | 108M |
| Op. Margin | 12.6% | 1.8% | 0.6% | 0.6% | 0.7% | 0.5% | 0.9% | 0.9% | 0.8% | 0.6% | 0.6% | 0.6% | 0.6% |
| Net Income | 591M | 260M | 654M | 1.2B | 636M | 932M | -931M | 1.6B | 822M | 1.4B | 1.4B | 1.7B | 1.6B |
| Net Margin | 4.1% | 1.9% | 5.0% | 8.5% | 4.5% | 6.2% | -7.4% | 10.7% | 5.9% | 9.0% | 8.1% | 9.0% | 8.8% |
| Non-Recurring | -223M | 20M | 697M | 106M | 44M | 99M | 810M | 10M | 33M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 2.0% | 0.9% | 2.3% | 3.9% | 2.1% | 3.1% | -3.2% | 5.7% | 3.3% | 6.2% | 5.7% | 6.3% | 5.9% |
| ROE | 3.1% | 1.4% | 3.7% | 6.2% | 3.4% | 5.0% | -5.0% | 8.7% | 5.1% | 9.5% | 8.6% | 9.3% | 8.7% |
| ROA | 0.7% | 0.3% | 0.9% | 1.5% | 0.8% | 1.2% | -1.1% | 1.9% | 1.0% | 1.9% | 1.8% | 2.0% | 1.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 3.0B | 3.5B | 2.3B | 2.6B | 4.2B | 1.7B | 1.7B | 2.6B | 3.3B | 3.9B | 3.0B | 3.3B | 2.6B |
| Free Cash Flow | 237M | 2.0B | 803M | 1.6B | 3.2B | 700M | 1.0B | 2.1B | 2.7B | 3.2B | 2.4B | 2.7B | 1.9B |
| Owner Earnings | 2.1B | 2.6B | 1.4B | 1.7B | 3.3B | 816M | 1.0B | 2.1B | 2.8B | 3.3B | 2.4B | 2.6B | 2.0B |
| CapEx | 2.8B | 1.6B | 1.4B | 1.0B | 995M | 1.0B | 710M | 482M | 660M | 686M | 632M | 579M | 685M |
| Maint. CapEx | 861M | 955M | 841M | 854M | 880M | 898M | 673M | 503M | 509M | 534M | 580M | 607M | 607M |
| Growth CapEx | 1.9B | 600M | 609M | 177M | 115M | 143M | 37M | 0 | 151M | 152M | 52M | 0 | 78M |
| D&A | 861M | 955M | 841M | 854M | 880M | 898M | 673M | 503M | 509M | 534M | 580M | 607M | 607M |
| CapEx/OCF | 92.1% | 43.8% | 64.4% | 39.8% | 23.6% | 59.8% | 40.7% | 18.4% | 19.9% | 17.6% | 20.9% | 17.7% | 26.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 95M | 90M | 84M | 84M | 80M | 76M | 70M | 65M | 61M | 57M | 55M | 52M | 52M |
| Dividend Yield | 0.6% | 0.7% | 0.6% | 0.5% | 0.5% | 0.5% | 0.7% | 0.5% | 0.4% | 0.4% | 0.3% | 0.3% | 0.2% |
| Share Buybacks | 622M | 1.3B | 134M | 216M | 1.0B | 1.1B | 923M | 1.1B | 729M | 849M | 608M | 806M | 443M |
| Buyback Yield | 4.1% | 9.6% | 0.9% | 1.3% | 7.4% | 6.8% | 7.6% | 7.6% | 5.2% | 5.4% | 3.3% | 3.6% | 1.8% |
| Stock-Based Comp | 6.0M | 26M | 47M | 35M | 31M | 27M | 37M | 33M | 21M | 26M | 19M | 41M | 41M |
| Debt Repayment | 2.3B | 1.9B | 3.4B | 2.4B | 1.0B | 2.0B | 1.7B | 1.2B | 640M | 878M | 1.4B | 869M | 869M |
| Balance Sheet | |||||||||||||
| Net Debt | 4.3B | 5.3B | 5.7B | 6.4B | 7.1B | 6.6B | 5.0B | 3.6B | 3.6B | 4.2B | 3.8B | 3.0B | 2.8B |
| Cash & Equiv. | 364M | 440M | 327M | 472M | 405M | 336M | 478M | 621M | 532M | 399M | 541M | 495M | 6.1B |
| Long-Term Debt | 10.3B | 9.5B | 10.7B | 11.3B | 11.4B | 11.5B | 10.1B | 9.0B | 8.2B | 7.9B | 8.9B | 8.4B | 8.9B |
| Debt/Equity | 0.55 | 0.60 | 0.59 | 0.60 | 0.61 | 0.60 | 0.57 | 0.51 | 0.63 | 0.57 | 0.52 | 0.51 | 0.48 |
| Interest Coverage | 3.6 | 0.5 | 0.1 | 0.1 | 0.2 | 0.1 | 0.2 | 0.3 | 0.3 | 0.3 | 0.2 | 0.2 | 0.2 |
| Equity | 19.3B | 17.6B | 18.2B | 19.2B | 18.5B | 19.1B | 17.9B | 17.8B | 14.3B | 15.7B | 17.1B | 18.7B | 18.7B |
| Total Assets | 78.4B | 76.0B | 76.6B | 79.6B | 78.3B | 82.2B | 80.2B | 81.6B | 75.6B | 79.2B | 81.9B | 86.3B | 85.7B |
| Total Liabilities | 53.7B | 53.2B | 53.2B | 55.0B | 56.9B | 60.3B | 61.1B | 62.5B | 60.4B | 62.7B | 64.0B | 66.7B | 66.1B |
| Intangibles | N/A | N/A | 77M | 81M | 74M | 75M | 64M | 63M | 68M | 77M | 76M | N/A | N/A |
| Retained Earnings | 15.5B | 14.7B | 15.2B | 16.1B | 15.8B | 15.8B | 14.2B | 14.8B | 14.9B | 15.6B | 16.5B | 17.4B | 17.7B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.55 | 0.72 | 1.93 | 3.45 | 1.99 | 3.07 | -3.32 | 6.00 | 3.38 | 6.29 | 6.41 | 7.97 | 7.75 |
| Owner EPS | 5.57 | 7.11 | 4.03 | 5.04 | 10.36 | 2.69 | 3.69 | 8.02 | 11.45 | 14.68 | 11.00 | 12.58 | 9.55 |
| Book Value | 50.57 | 48.63 | 53.60 | 56.92 | 57.94 | 62.98 | 63.69 | 68.55 | 59.00 | 68.88 | 77.36 | 89.34 | 90.77 |
| Cash Flow/Share | 7.84 | 9.82 | 6.65 | 7.68 | 13.21 | 5.73 | 6.22 | 10.08 | 13.63 | 17.14 | 13.71 | 15.68 | 10.88 |
| Dividends/Share | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| Shares Out. | 381.3M | 361.1M | 338.9M | 337.4M | 319.6M | 303.6M | 280.4M | 260.3M | 243.2M | 228.0M | 220.6M | 209.2M | 206.1M |
| Valuation | |||||||||||||
| P/E Ratio | 25.9 | 50.8 | 23.5 | 14.0 | 21.9 | 16.5 | N/A | 9.4 | 16.9 | 11.0 | 13.2 | 13.3 | 15.2 |
| P/FCF | 64.6 | 6.6 | 19.1 | 10.5 | 4.3 | 21.9 | 11.8 | 7.0 | 5.2 | 4.9 | 7.8 | 8.2 | 12.6 |
| EV/EBIT | 12.9 | 26.5 | 15.0 | 11.6 | 15.7 | 12.4 | N/A | 7.5 | 12.9 | 9.3 | 10.0 | 10.0 | 251.0 |
| Price/Book | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.7 | 0.8 | 1.0 | 1.0 | 1.1 | 1.2 | 1.3 |
| Price/Sales | 1.1 | 1.0 | 1.0 | 1.1 | 1.1 | 1.0 | 0.9 | 0.9 | 1.0 | 0.9 | 1.0 | 1.0 | 1.3 |
| FCF Yield | 1.5% | 15.1% | 5.2% | 9.6% | 23.2% | 4.6% | 8.5% | 14.4% | 19.1% | 20.5% | 12.9% | 12.1% | 7.9% |
| Market Cap | 15.3B | 13.2B | 15.3B | 16.3B | 13.9B | 15.4B | 12.2B | 14.9B | 13.9B | 15.7B | 18.6B | 22.2B | 24.3B |
| Avg. Price | 40.97 | 37.04 | 38.56 | 45.83 | 47.92 | 48.73 | 38.35 | 52.89 | 58.22 | 60.92 | 77.23 | 92.53 | 117.90 |
| Year-End Price | 40.17 | 36.57 | 45.29 | 48.38 | 43.55 | 50.58 | 43.57 | 57.34 | 57.27 | 69.02 | 84.40 | 106.34 | 117.90 |
LOEWS CORP passes 4 of 9 quality checks, suggesting mixed fundamentals.
LOEWS CORP trades at 14.8x trailing earnings, compared to its 15-year median P/E of 14.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 9.0x vs a median of 8.0x. The company's 5-year average ROIC is 5.4% with a gross margin of 11.7%. Total shareholder yield (dividends + buybacks) is 2.0%. At current prices, the estimated annualized return to fair value is +21.9%.
LOEWS CORP (L) has a net profit margin of 9.0%. This is a modest margin.
LOEWS CORP (L) generated $2.7 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LOEWS CORP (L) has a debt-to-equity ratio of 0.51. This indicates moderate leverage.
LOEWS CORP (L) reported earnings per share (EPS) of $7.97 in its most recent fiscal year.
LOEWS CORP (L) has a return on equity (ROE) of 9.3%. This indicates moderate shareholder returns.
LOEWS CORP (L) has a 5-year average gross margin of 11.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for LOEWS CORP (L), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LOEWS CORP (L) has a book value per share of $89.34, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects CNA to maintain strong pricing discipline in commercial lines, with commercial auto rates improving and quality new business opportunities anticipated to persist given strengthened industry verticals and specialized underwriting expertise. The company anticipates securing renewal business at higher prices while reflecting strong underwriting performance, and expects to capitalize on opportunities in target classes across commercial segments. Boardwalk's natural gas transportation contracts operate on a take-or-pay basis, providing revenue stability despite commodity market volatility, and long-term natural gas demand is expected to increase over the coming decades as energy transition accelerates in various countries. CNA's expense ratio is expected to remain around 31% as a reasonable run rate, with some quarter-to-quarter variability anticipated.
No recent press releases.