Loews Corp
L
Fire, Marine & Casualty Insurance
Mkt Cap
$16.5BPE
10.88Debt
$10.1BCash
$556MEV
$26.05BFCF
$2.7BP/E Ratio
10.88Debt
$10.1BCash
$556MEV
$26.05BFCF
$2.7BCharts data: {"Earnings":[{"time":"2014-12-30","value":591000000},{"time":"2015-12-30","value":260000000},{"time":"2016-12-30","value":654000000},{"time":"2017-12-30","value":1164000000},{"time":"2018-12-30","value":636000000},{"time":"2019-12-30","value":871000000},{"time":"2020-12-30","value":-1291000000},{"time":"2021-12-30","value":1578000000},{"time":"2022-12-30","value":1012000000},{"time":"2023-12-30","value":1434000000}],"Sales":[{"time":"2014-12-30","value":14325000000},{"time":"2015-12-30","value":13415000000},{"time":"2016-12-30","value":13105000000},{"time":"2017-12-30","value":13735000000},{"time":"2018-12-30","value":14066000000},{"time":"2019-12-30","value":14931000000},{"time":"2020-12-30","value":12583000000},{"time":"2021-12-30","value":14657000000},{"time":"2022-12-30","value":14044000000},{"time":"2023-12-30","value":15901000000}],"Net Margins":[{"time":"2014-12-30","value":0.0412565445026178},{"time":"2015-12-30","value":0.019381289601192696},{"time":"2016-12-30","value":0.049904616558565436},{"time":"2017-12-30","value":0.08474699672369858},{"time":"2018-12-30","value":0.04521541305275131},{"time":"2019-12-30","value":0.05833500770209631},{"time":"2020-12-30","value":-0.10259874433759834},{"time":"2021-12-30","value":0.10766186804939619},{"time":"2022-12-30","value":0.072059242381088},{"time":"2023-12-30","value":0.0901830073580278}],"Assets":[{"time":"2014-12-30","value":78367000000},{"time":"2015-12-30","value":76029000000},{"time":"2016-12-30","value":76594000000},{"time":"2017-12-30","value":79586000000},{"time":"2018-12-30","value":78316000000},{"time":"2019-12-30","value":82243000000},{"time":"2020-12-30","value":80236000000},{"time":"2021-12-30","value":81626000000},{"time":"2022-12-30","value":75494000000},{"time":"2023-12-30","value":79197000000}],"Stockholders Equity":[{"time":"2014-12-30","value":24650000000},{"time":"2015-12-30","value":22810000000},{"time":"2016-12-30","value":23361000000},{"time":"2017-12-30","value":24566000000},{"time":"2018-12-30","value":21386000000},{"time":"2019-12-30","value":21930000000},{"time":"2020-12-30","value":19181000000},{"time":"2021-12-30","value":19175000000},{"time":"2022-12-30","value":15478000000},{"time":"2023-12-30","value":16525000000}],"ROE":[{"time":"2014-12-30","value":0.023975659229208926},{"time":"2015-12-30","value":0.011398509425690487},{"time":"2016-12-30","value":0.027995376910235008},{"time":"2017-12-30","value":0.04738256126353497},{"time":"2018-12-30","value":0.02973908164219583},{"time":"2019-12-30","value":0.039717282261741906},{"time":"2020-12-30","value":-0.06730618841561962},{"time":"2021-12-30","value":0.08229465449804432},{"time":"2022-12-30","value":0.06538312443468149},{"time":"2023-12-30","value":0.08677760968229954}],"ROA":[{"time":"2014-12-30","value":0.029451172049459594},{"time":"2015-12-30","value":0.010048797169501111},{"time":"2016-12-30","value":0.019218215526020314},{"time":"2017-12-30","value":0.027994873470208327},{"time":"2018-12-30","value":0.01797844629449921},{"time":"2019-12-30","value":0.020792043091813286},{"time":"2020-12-30","value":-0.011827608554763449},{"time":"2021-12-30","value":0.031926101977311154},{"time":"2022-12-30","value":0.01829284446446075},{"time":"2023-12-30","value":0.025202974860158843}]}
Loews 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.
Sector
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DCF
Discounted Cash Flow Valuation of Loews Corp
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $2.7B | $3.116B | $3.56B | $4.026B | $4.507B | $4.993B | $5.474B | $5.937B | $6.371B | $6.764B | $7.102B | $71.02B |
| DCF | $2.71B | $2.692B | $2.647B | $2.577B | $2.482B | $2.366B | $2.232B | $2.083B | $1.923B | $1.755B | $17.55B | |
| Value | $41.02B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 11%
Earnings Stability -2.6%
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 | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 1.9% | 5% | 8.5% | 4.5% | 5.8% | -10% | 11% | 7.2% | 9% | 9.3% |
| ROA | 1% | 1.9% | 2.8% | 1.8% | 2.1% | -1.2% | 3.2% | 1.8% | 2.5% | 2.6% |
| ROE | 1.1% | 2.8% | 4.7% | 3% | 4% | -6.7% | 8.2% | 6.5% | 8.7% | 8.9% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +4.51%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +1.36%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +1.71%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +0.21%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +3.94%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is +1.46%.
Safety & Stabiliy
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 | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 5.87 | 13.67 | 7.65 | 3.57 | 16.74 | 9.80 | 4.28 | 3.72 | 3.13 | 3.74 |
| Debt Equity | 0.51 | 0.47 | 0.49 | 0.54 | 0.53 | 0.53 | 0.48 | 0.64 | 0.61 | 0.59 |
| MIN | ||||||||||
| Graham Stability | - | - | 100% | 92% | 100% | -150% | 100% | 100% | 100% | -150% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 3.74.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -1.34.
What is the Graham’s Stability?
Graham’s Stability measure stands at -1.45.
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 | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 2.8% | 2.5% | 8.1% | 13% | 1.3% |
| Net Income | 12% | 18% | - | 42% | -3.9% |
| Stockholders Equity | -4.8% | -5% | -4.8% | 6.8% | -0.3% |
| FCF | 22% | -0.037% | 46% | 21% | -44% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +2.48%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +1.3%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +17.66%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -3.89%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -5.03%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -0.3%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is -0.04%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -44.32%.