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Wednesday 4 November 2026 Export L’s income statement to Excel — free account

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
+24.7%
Total debt
−5.35%

Quarter to September 2026, against a year earlier

111.38 1.41 +1.28%
Market cap
$22.5B
P/E
15.0×
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

Loews Corporation (L) valuation and DCF model

What the price implies · reverse DCF

At $111.38 the price implies more than 60% a year of growth for ten years.

The dividend a share grew −0.6% a year over the last ten years, 1.8% over the last five.

In December 2017 the price assumed 23.6% a year; Loews Corporation went on to grow the dividend a share 6.4% a year to FY2025.

Last 5 years, reported
1.8%
Last 10 years, reported
−0.6%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
Its base case
−0.6% a year for five years, then −0.4%
$1.40
98.7% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Loews Corporation’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Loews Corporation’s own cost of capital: risk-free 4.3% + beta 0.49 × equity premium 4.5% = 6.5% cost of equity; weighted, 6.5%.

Use 6.5%
Base case value per share $1.40 ten years discounted, and what follows
Current price $111.38 market price per share
Below today’s price 98.7% downside at the base case’s assumptions

How we got there$0.70 10 years of dividends+$0.71 terminal value=$1.40 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Insurance Property & Casualty).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 15.01× 13.86× 15.90× 6% below 11.87× 26% above
P/FCF 12.46× 7.74× 9.07× 37% above 8.12× 53% above
P/B 1.12× 1.04× 0.87× 28% above 1.99× 44% below
EV/EBITDA — 11.55× 13.57× — 3.38× —
EV/Sales — 1.60× 1.74× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
5.98×9.95×13.91×17.88×10Y avg 9.07×2017201820192020202120222023202420252026

L trades at 12.46× P/FCF, against a 10-year average of 9.07× (range 4.35×–18.92×). That is dearer than 89% of the last 9 year-end readings; re-rating to the average implies $81.10 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.