Loews Corp

Finance
Property-Casualty Insurers
www.loews.com

Earnings Score
Moat Score
Safety Score

Market Cap $18.91B
PE 11
Debt $9.53B
Cash $548.00M
EV $27.90B
FCF $1.88B

Earnings

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Sales & Net Margins

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Earnings	$1.67B
EBIT	$2.35B
ROE	9%
ROA	3%
FCF	$1.88B
Equity	$18.25B
Growth Stability	-145%
PE	11.3
PEG	0.31
PB	1.04
P/FCF	10.06
P/S	1.1
Price/Cash	0.03
Debt/Equity	0.52
Debt/FCF	5.07
Net Margins	9%
Op. Margins	14%
Earnings CAGR	10%
Sales Growth YoY	14%
Sales Growth QoQ	5%
Sales CAGR	2%
FCF CAGR	7%
Equity CAGR	-5%
Earnings Stability	0.09
Earnings Growth YoY	58%
Earnings Growth QoQ	9%

Earnings CAGR 5Y	37%
Sales CAGR 5Y	4%
FCF CAGR 5Y	36%
Equity CAGR 5Y	-5%
Earnings CAGR 3Y	8%
Sales CAGR 3Y	8%
FCF CAGR 3Y	-2%
Equity CAGR 3Y	0%
Market Cap	$18.91B
Revenue	$17.22B
Dividend Yield	0%
Payout Ratio	3%
Assets	$83.62B
Total Debt	$9.53B
Cash	$548.00M
Shares Outstanding	219.67M
EV	27.9B
Earnings Score	7%
Moat Score	68%
Safety Score	54%
Final Score	43%
Shares Growth 3y	-6%
Equity Growth QoQ	6%
Equity Growth YoY	20%

Assets & ROA

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Stockholders Equity & ROE

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Loews Corp is a holding company that is supported by a variety of businesses. Its largest subsidiary is CNA Financial Corporation, a property and casualty insurance company. CNA's services include risk management, information services, and warranty and claims administration. Loews also maintains an operation of offshore oil and gas drilling rigs through Diamond Offshore Drilling, Inc. The company engages in the transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas through Boardwalk Pipeline Partners, LP. Loews also operates a chain of hotels.

SEC Filings

Direct access to Loews Corp (L) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Loews Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Loews Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 10%

Stability 9%

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Loews Corp Discounted Cash Flow

Fully customizable DCF calculator online for Loews Corp.

Years

Calculation mode

= $30B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$1.9B	$2B	$2.1B	$2.3B	$2.4B	$2.6B	$2.8B	$2.9B	$3.1B	$3.3B	$3.6B	$36B
DCF		$1.8B	$1.8B	$1.7B	$1.7B	$1.6B	$1.6B	$1.5B	$1.5B	$1.4B	$1.4B	$14B
Value	$30B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	4%	2%	5%	8%	5%	6%	-10%	11%	7%	9%	9%
ROA	-	1%	2%	3%	2%	2%	-1%	3%	2%	3%	3%
ROE	-	1%	3%	5%	3%	4%	-7%	8%	7%	9%	9%

Net Margins (9.46%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	5.87	13.67	7.65	3.57	16.74	9.8	4.28	3.72	3.13	5.07
Debt over Equity	0.45	0.51	0.47	0.49	0.54	0.53	0.53	0.48	0.64	0.61	0.52
Growth Stability	-	-	-	100%	92%	100%	-145%	100%	100%	100%	-145%

Bad Debt/FCF ratio (5.07)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.52)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-145%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-6%	-2%	5%	2%	6%	-16%	16%	-4%	13%	4%
Earnings YoY growth	-	-56%	152%	78%	-45%	37%	-248%	-222%	-36%	42%	37%
Equity YoY growth	-	-7%	2%	5%	-13%	3%	-13%	-0%	-19%	7%	-5%
FCF YoY growth	-	741%	-60%	94%	107%	-78%	48%	107%	24%	21%	36%