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Loews Corporation

L Financial Insurance Property & Casualty

Loews Corporation’s revenue for fiscal 2025 (year ended December 2025) was $18.5 billion, up 5.39% from fiscal 2024.

Revenue
+1.88%
EPS
−35.2%
Free cash flow
−9.55%
Total debt
−5.35%

Quarter to September 2026, against a year earlier

110.76 0.91 −0.81%
Market cap
$22.5B
P/E
15.2×
Fwd P/E
16.0×
Dividend yield
0.23%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2015

  • CNA Financial
  • Diamond Offshore Drilling Inc.
  • Boardwalk Pipeline Partners, LP
  • Loews Hotels Holding Corporation
  • Corporate

Every year since 2009 →

Insider Decisions last twelve months

Bought, $m 1.05
Sold, $m 31.28
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 2 — — — — — —
Sell 3 — 4 1 — — — — — — — —
Insider Ownership 20.78%

Capital & Financial Ratios $m

Size
Market Cap 22,470.00
Revenue ttm 18,782.00
Net income ttm 1,575.00
Free cash flow ttm 1,693.00
Net debt Q 8,433.00
Valuation
P/E 15.16
Forward P/E 16.00
Price / sales 1.21
Forward P/S Powerpack
Price / FCF 13.38
Price / book 1.18
Financial health
Current ratio Q 0.25
Debt / equity Q 0.47
Interest coverage Q 5.02
Growth
Revenue growth Q +1.88% (above 0%: growing)
Operating income growth Q −36.70% (below 0%: shrinking)
EPS, this year —
EPS, next year A —
Revenue, next year A +259.89% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +14.03%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 59.49%
10-year low 10-year high
P/S against its own 10 years 87.79%
10-year low 10-year high
P/B against its own 10 years 98.79%
10-year low 10-year high

Dividends

Yield
0.23%
Annual rate
0.25
Payout ratio
3.42%
Growth, 2018–26
−3.53%/yr
  1. 0.25 ’18
  2. 0.25 ’19 +0
  3. 0.25 ’20 +0
  4. 0.25 ’21 +0
  5. 0.25 ’22 +0
  6. 0.25 ’23 +0
  7. 0.25 ’24 +0
  8. 0.25 ’25 +0
  9. 0.19 ’26 −25
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 399 541 495 505
Receivables 9,660 10,522 10,983 11,550
Inventory — — — —
Other — — — —
10,059 11,063 11,478 12,055
2023 2024 2025 Q'26
Payables 44,275 45,590 47,735 48,484
ST’ Debt 1,084 5 1,052 521
Other — — — —
45,359 45,595 48,787 49,005

Compound Annual Growth %

10y 5y 3y
Sales 3.24% 7.96% 9.53%
Cash Flow (0.78%) 13.45% (0.35%)
Earnings 20.42% 0.00% 26.58%
Book Value (1.48%) 0.48% 8.92%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY19 Estimate 0.72 Actual 0.73

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY19 0.96 1.27 Beat by 0.31
Q2 FY19 0.75 0.82 Beat by 0.07
Q3 FY19 0.75 0.74 Miss by 0.01
Q4 FY19 0.72 0.73 Beat by 0.01

EPS $

Mar Jun Sep Dec Year
’26 1.63 2.16 1.57 — —
’25 1.74 1.87 2.43 1.94 7.97
’24 2.05 1.67 1.82 0.86 6.41
’23 1.61 1.58 1.12 1.99 6.29
’22 1.36 0.73 (0.11) 1.53 3.38
’21 0.97 2.86 0.85 1.37 6.07
’20 (2.20) (2.96) 0.50 1.45 (3.32)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4,555 4,734 4,759 — —
’25 4,494 4,555 4,671 4,734 18,454
’24 4,231 4,267 4,466 4,546 17,510
’23 3,783 3,934 3,926 4,258 15,901
’22 3,402 3,388 3,461 3,793 14,044
’21 3,622 4,003 3,371 3,661 14,657
’20 3,099 2,310 3,465 3,709 12,583
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 72 966 954 — —
’25 736 1,006 920 617 3,279
’24 198 952 934 941 3,025
’23 719 1,434 1,277 477 3,907
’22 423 1,023 1,246 622 3,314
’21 134 409 1,133 947 2,623
’20 329 111 851 454 1,745
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (132) 708 691 — —
’25 638 872 764 426 2,700
’24 62 793 794 744 2,393
’23 560 1,294 1,113 254 3,221
’22 302 832 1,137 399 2,670
’21 47 365 989 740 2,141
’20 96 (85) 743 346 1,100
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 34.3% a year for ten years. It grew −0.6% a year over the last ten.

Implied
34.3%
10 years, reported
−0.6%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 13,105 13,735 14,066 14,931 12,583 14,657 14,044 15,901 17,510 18,454 18,782 +3.9% — — — —
Gross margin, % 59.69 61.34 60.39 61.11 50.97 56.53 52.63 55.55 55.81 55.06 52.93 (4.6) pt
EBT 936 1,582 834 1,119 (1,464) 2,160 1,114 1,996 1,874 2,283 2,022 +10.4%
EBT margin, % 7.14 11.52 5.93 7.49 (11.63) 14.74 7.93 12.55 10.70 12.37 10.77 +5.2 pt
Net income 716 1,412 706 871 (1,291) 1,685 891 1,545 1,494 1,772 1,575 +10.6%
Per share, $
Per share, $ Revenue 38.78 40.80 44.09 49.33 44.89 56.44 57.83 69.90 79.50 88.31 91.85 +9.6%
Earnings 1.87 3.45 1.99 3.07 (3.32) 6.07 3.39 6.29 6.41 7.97 7.30 +17.5%
Cash flow 6.67 7.69 13.23 5.75 6.23 10.10 13.65 17.18 13.73 15.69 12.76 +10.0%
Capex (3.31) (2.83) (2.76) (2.98) (2.30) (1.86) (2.65) (3.02) (2.87) (2.77) (4.48) (2.0%)
Free cash flow 3.35 4.87 10.47 2.78 3.92 8.25 11.00 14.16 10.86 12.92 8.28 +16.2%
Book value 69.13 72.98 67.03 72.45 68.43 73.84 62.60 72.64 81.44 93.99 93.62 +3.5%
Shares, m 338 337 319 303 280 260 243 227 220 209 206 (5.2%)
Valuation, ×
Valuation, × P/E 25.24 14.46 23.22 17.15 0.00 9.55 16.70 11.18 13.23 13.20 15.16 14.4
P/S 1.22 1.22 1.03 1.06 1.00 1.02 1.01 1.01 1.07 1.19 1.21 1.1
P/B 0.68 0.68 0.68 0.72 0.66 0.78 0.94 0.97 1.04 1.12 1.18 0.8
EV/Sales 2.01 2.03 1.81 1.81 1.77 1.60 1.62 1.55 1.55 1.68 — 1.7
EV/FCF 23.30 17.01 7.63 32.24 20.23 10.96 8.51 7.65 11.31 11.48 — 15.0
Cash, $m
Cash, $m Operating cash flow 2,253 2,590 4,222 1,741 1,745 2,623 3,314 3,907 3,025 3,279 2,609 +4.3%
Capex (1,120) (952) (882) (901) (645) (482) (644) (686) (632) (579) (916) (7.1%)
Free cash flow 1,133 1,638 3,340 840 1,100 2,141 2,670 3,221 2,393 2,700 1,693 +10.1%
Balance, $m
Balance, $m Working capital (28,720) (29,467) (28,458) (30,788) (32,961) (33,460) (33,026) (35,300) (34,532) (37,309) (36,950) +2.9%
Net debt 10,451 11,061 10,971 11,197 9,631 8,458 8,487 8,604 8,403 8,994 8,433 (1.7%)
Shareholders’ equity 23,361 24,566 21,386 21,930 19,181 19,175 15,201 16,525 17,937 19,641 19,143 (1.9%)
Returns, %
Returns, % ROA 0.86 1.49 0.81 1.16 (1.15) 1.93 1.05 1.85 1.75 1.98 1.74 +1.1 pt
ROIC 2.72 3.91 2.72 3.23 (2.06) 5.84 3.94 5.90 5.49 5.94 5.56 +3.2 pt
ROE 2.83 4.86 2.77 4.30 (4.53) 8.14 4.78 9.04 8.21 8.87 7.76 +6.0 pt
People
People Employees 15,800 18,100 17,900 18,605 12,200 10,340 12,050 12,280 13,000 13,100 — (2.1%)
Revenue/emp, $m 0.83 0.76 0.79 0.80 1.03 1.42 1.17 1.29 1.35 1.41 — +6.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Loews Corporation is a holding company with four reportable segments: CNA Financial Corporation, Boardwalk Pipeline Partners, LP, Loews Hotels Holding Corporation and Corporate. It has 13,100 employees.

CNA is the largest operating business. It provides commercial property and casualty insurance: coverage that helps businesses manage losses involving property damage, liability, workers’ compensation, vehicles, professional services and other risks. Its Specialty unit covers management and professional liability, surety, warranty and alternative-risk products. Its Commercial unit serves small businesses, construction, middle-market and other commercial customers. Its International business writes property and casualty coverage in Canada, the United Kingdom, continental Europe and through a Lloyd’s syndicate.

Where the money comes from and where it goes Fiscal 2015

Fiscal 2015: revenue by segment, and margins
CNA Financial 9,101 67.84%
Diamond Offshore Drilling Inc. 2,428 18.10%
Boardwalk Pipeline Partners, LP 1,254 9.35%
Loews Hotels Holding Corporation 604 4.50%
Corporate 28 0.21%
Gross margin 59.87%
Operating margin 5.70%
Pre-tax margin 1.82%

Revenue by segment since 2009

Loews Corporation vs peers in Insurance Property & Casualty (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CINF Cincinnati Financial Corporation $28.9B 10.9× 11.6× −18.22% (below 0%: shrinking) −58.41% (below 0%: shrinking) −29.04% (below 0%: shrinking) 18.81% 18.54% Compare
WRB W.R. Berkley Corporation $28.6B 16.2× 15.1× −0.78% (below 0%: shrinking) −10.85% (below 0%: shrinking) −31.31% (below 0%: shrinking) 46.55% 16.21% Compare
MKL Markel Group Inc. $23.9B 13.8× 12.3× −11.22% (below 0%: shrinking) −69.36% (below 0%: shrinking) −27.15% (below 0%: shrinking) 46.51% 9.88% Compare
L Loews Corporation $22.5B 15.2× 16.0× +1.88% (above 0%: growing) −35.20% (below 0%: shrinking) −9.55% (below 0%: shrinking) 50.68% 10.65%
AIZ Assurant, Inc. $15.1B 14.2× 14.0× +9.22% (above 0%: growing) +6.97% (above 0%: growing) +99.03% (above 0%: growing) 77.83% 10.73% Compare
CNA CNA Financial Corporation $13.0B 12.6× 11.8× +0.10% (above 0%: growing) −51.11% (below 0%: shrinking) −9.94% (below 0%: shrinking) 38.58% 7.04% Compare
AFG American Financial Group, Inc. $13.0B 12.7× 12.4× +10.81% (above 0%: growing) +31.78% (above 0%: growing) +134.10% (above 0%: growing) 20.98% 14.79% Compare
ORI Old Republic International Corporation $9.7B 8.8× 8.9× +5.21% (above 0%: growing) −11.55% (below 0%: shrinking) −23.85% (below 0%: shrinking) 11.68% 11.68% Compare
KNSL Kinsale Capital Group, Inc. $8.9B 17.2× 16.2× −8.58% (below 0%: shrinking) −28.76% (below 0%: shrinking) −9.58% (below 0%: shrinking) 27.99% 27.89% Compare
Median of peers $14.1B 13.3× 12.4× −0.34% −20.15% −16.89% 33.29% 13.24%

All 46 Insurance Property & Casualty stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 60.46%
Held by the ten largest 36.39%
Holder Shares Stake Change
Vanguard 19.68m 9.63% +62.60k
BlackRock 14.32m 7.01% +314.59k
JPMorgan Chase 8.15m 3.99% −774.05k
State Street 7.96m 3.89% +98.45k
Geode Capital Management 5.33m 2.61% −75.00
Norges Bank 4.51m 2.21% +4.51m
Invesco 4.13m 2.02% +433.18k
T. Rowe Price 3.92m 1.92% −152.71k
Citadel Advisors 3.62m 1.77% +38.69k
Allspring Global Investments Holdings, LLC 2.78m 1.36% +11.70k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 1 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 8.75m 11.97m 277.70
2024 7.07m 7.65m 209.17
2023 6.92m 7.28m 162.96
2022 6.44m 6.49m 130.73
2021 6.12m 6.73m 128.89

Ownership

Directors and executive officers, together 19.00%
The Vanguard Group100 Vanguard Blvd. Malvern, PA 9.40%
James S. Tisch c/o Barry L. Bloom 7.80%
James S. Tisch 7.80%
BlackRock, Inc. 6.90%
Andrew H. Tisch c/o Barry L. Bloom 6.90%
Andrew H. Tisch 6.90%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Loews Corporation (L) Latest News

2 Nov

Impact 3 · · InvestorsHub
Impact 3 · · PR Newswire

16 Oct

Impact 3 · · Simply Wall St.

21 Sep

Impact 3 · · Barchart

7 Sep

Impact 3 ·

3 Aug

Impact 3 · · InvestorsHub
Impact 3 · · Proactive Investors
Impact 3 ·

4 May

Impact 3 · · Proactive Investors
Impact 3 · · StockStory
Impact 3 · · PR Newswire

13 Feb

Impact 4 · · Barrons.com

10 Feb

Impact 4 · · Simply Wall St.

9 Feb

Impact 4 · · Proactive Investors
Impact 4 · · Associated Press Finance
Impact 3 · · PR Newswire

22 Jan

Impact 3 · · PR Newswire

29 Dec

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

12 Dec

Impact 3 · · Barchart

11 Dec

Impact 4 · · PR Newswire

6 Dec

Impact 4 · · Insider Monkey

2 Dec

Impact 4 · · Simply Wall St.

21 Nov

Impact 3 · · Investor's Business Daily

19 Nov

Impact 4 · · The Motley Fool

5 Nov

Impact 4 ·

4 Nov

Impact 3 · · Simply Wall St.Associated Press FinanceMT Newswires

3 Nov

Impact 4 · · Associated Press FinanceMT NewswiresAssociated Press FinanceAssociated Press FinanceAssociated Press FinanceAssociated Press Finance
Impact 4 · · PR Newswire

22 Sep

Impact 3 · · Barchart

16 Sep

Impact 3 ·

L metrics, ten years each

stockrow.com/L · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com