Loews (L) Financials

$96.66 +0.78 (+0.81%)

Closing price 03:59 PM Eastern

Extended Trading

$96.78 +0.12 (+0.12%)

As of 05:36 PM Eastern

Annual Income Statements for Loews

This table shows Loews' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	260	654	1,164	636	932	-931	1,562	822	1,434	1,414
Consolidated Net Income / (Loss)	287	716	1,412	706	871	-1,291	1,685	891	1,545	1,494
Net Income / (Loss) Continuing Operations	287	716	1,412	706	871	-1,291	1,685	891	1,545	1,494
Total Pre-Tax Income	244	936	1,582	834	1,119	-1,464	2,160	1,114	1,996	1,874
Total Revenue	12,895	12,569	13,089	13,492	14,340	12,068	14,233	13,666	15,525	17,069
Net Interest Income / (Expense)	-520	-536	-646	-574	-591	-515	-424	-378	-376	-441
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	520	536	646	574	591	515	424	378	376	441
Long-Term Debt Interest Expense	520	536	646	574	591	515	424	378	376	441
Total Non-Interest Income	13,415	13,105	13,735	14,066	14,931	12,583	14,657	14,044	15,901	17,510
Other Service Charges	2,339	3,635	4,053	3,987	3,938	2,933	2,133	2,200	2,455	2,991
Net Realized & Unrealized Capital Gains on Investments	1,795	2,185	2,304	1,760	2,404	749	2,919	1,603	2,342	2,699
Premiums Earned	6,921	6,924	6,988	7,312	7,428	7,649	8,175	8,667	9,480	10,211
Other Non-Interest Income	-	-	-	-	-	-	1,430	1,574	1,624	1,609
Total Non-Interest Expense	12,651	11,633	11,507	12,658	13,221	13,532	12,073	12,552	13,529	15,195
Net Occupancy & Equipment Expense	-	-	-	-	-	73	-26	-139	-120	-58
Property & Liability Insurance Claims	5,384	5,283	5,310	5,572	5,806	6,170	6,371	6,653	7,068	7,738
Other Operating Expenses	5,727	5,115	4,964	5,751	6,032	5,879	4,285	4,548	4,937	5,717
Amortization Expense	1,540	1,235	1,233	1,335	1,383	1,410	1,443	1,490	1,644	1,798
Income Tax Expense	-43	220	170	128	248	-173	475	223	451	380
Net Income / (Loss) Attributable to Noncontrolling Interest	27	62	248	70	-61	-360	123	69	111	80
Basic Earnings per Share	$0.72	$1.93	$3.46	$1.99	$3.08	($3.32)	$6.02	$3.39	$6.30	$6.42
Weighted Average Basic Shares Outstanding	362.43M	337.95M	336.61M	319.06M	302.70M	280.32M	259.67M	242.83M	227.48M	220.26M
Diluted Earnings per Share	$0.72	$1.93	$3.45	$1.99	$3.07	($3.32)	$6.00	$3.38	$6.29	$6.41
Weighted Average Diluted Shares Outstanding	362.69M	338.31M	337.50M	319.93M	303.35M	280.32M	260.20M	243.28M	227.81M	220.53M
Weighted Average Basic & Diluted Shares Outstanding	361.10M	338.90M	336.40M	319.60M	287.77M	267.05M	248.20M	235.00M	222.20M	212.86M
Cash Dividends to Common per Share	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25

This table shows Loews' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-22	355	375	360	253	446	457	369	401	187	370
Consolidated Net Income / (Loss)	-27	379	404	388	276	477	485	395	425	189	392
Net Income / (Loss) Continuing Operations	-27	379	404	388	276	477	485	395	425	189	392
Total Pre-Tax Income	-25	465	519	508	356	613	629	507	550	188	514
Total Revenue	3,369	3,699	3,688	3,843	3,832	4,162	4,128	4,153	4,352	4,436	4,389
Net Interest Income / (Expense)	-92	-94	-95	-91	-94	-96	-103	-114	-114	-110	-105
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	92	94	95	91	94	96	103	114	114	110	105
Long-Term Debt Interest Expense	92	94	95	91	94	96	103	114	114	110	105
Total Non-Interest Income	3,461	3,793	3,783	3,934	3,926	4,258	4,231	4,267	4,466	4,546	4,494
Other Service Charges	533	593	594	574	559	728	736	736	706	813	872
Net Realized & Unrealized Capital Gains on Investments	308	567	534	606	554	648	647	629	766	657	599
Premiums Earned	2,221	2,232	2,248	2,347	2,406	2,479	2,441	2,498	2,593	2,679	2,626
Other Non-Interest Income	-	-	-	-	-	-	-	-	401	-	397
Total Non-Interest Expense	3,394	3,234	3,169	3,335	3,476	3,549	3,499	3,646	3,802	4,248	3,875
Net Occupancy & Equipment Expense	-35	-28	-28	-39	-22	-31	-26	-27	9.00	-14	1.00
Property & Liability Insurance Claims	1,880	1,694	1,653	1,779	1,826	1,810	1,807	1,882	2,019	2,030	2,027
Other Operating Expenses	1,166	1,179	1,165	1,192	1,246	1,334	1,274	1,356	1,317	1,770	1,376
Amortization Expense	383	389	379	403	426	436	444	435	457	462	471
Income Tax Expense	2.00	86	115	120	80	136	144	112	125	-1.00	122
Net Income / (Loss) Attributable to Noncontrolling Interest	-5.00	24	29	28	23	31	28	26	24	2.00	22
Basic Earnings per Share	($0.09)	$1.50	$1.61	$1.58	$1.12	$1.99	$2.05	$1.67	$1.83	$0.87	$1.74
Weighted Average Basic Shares Outstanding	240.37M	242.83M	233.30M	227.69M	225.64M	227.48M	222.47M	221.35M	219.67M	220.26M	212.45M
Diluted Earnings per Share	($0.09)	$1.50	$1.61	$1.58	$1.12	$1.98	$2.05	$1.67	$1.82	$0.87	$1.74
Weighted Average Diluted Shares Outstanding	240.76M	243.28M	233.62M	227.97M	225.99M	227.81M	222.78M	221.60M	219.94M	220.53M	212.60M
Weighted Average Basic & Diluted Shares Outstanding	237.43M	235.00M	227.90M	225.51M	223.25M	222.20M	221.41M	219.52M	217.78M	212.86M	209.70M
Cash Dividends to Common per Share	$0.06	-	$0.06	$0.06	$0.06	-	$0.06	$0.06	$0.06	-	$0.06

This table details how cash moves in and out of Loews' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	76	-113	145	-57	-69	142	143	-89	-133	142
Net Cash From Operating Activities	3,547	2,253	2,590	4,222	1,741	1,745	2,623	3,314	3,907	3,025
Net Cash From Continuing Operating Activities	3,547	2,253	2,590	4,222	1,741	1,745	2,623	3,314	3,907	3,025
Net Income / (Loss) Continuing Operations	287	716	1,412	706	871	-1,291	1,685	891	1,545	1,494
Consolidated Net Income / (Loss)	287	716	1,412	706	871	-1,291	1,685	891	1,545	1,494
Depreciation Expense	955	841	874	912	943	734	515	509	538	583
Amortization Expense	17	-27	-40	-70	-89	-67	-81	-129	-191	-200
Non-Cash Adjustments to Reconcile Net Income	1,018	1,043	126	745	227	1,984	-444	475	307	68
Changes in Operating Assets and Liabilities, net	1,270	-320	218	1,929	-211	385	948	1,568	1,708	1,080
Net Cash From Investing Activities	-1,935	-2,187	-2,655	-1,444	-671	-1,414	-1,187	-2,347	-2,745	-1,975
Net Cash From Continuing Investing Activities	-1,935	-2,187	-2,655	-1,444	-671	-1,414	-1,187	-2,347	-2,745	-1,975
Purchase of Property, Leasehold Improvements and Equipment	-1,555	-1,450	-1,031	-995	-1,041	-710	-482	-660	-686	-632
Purchase of Investment Securities	-9,072	-9,945	-10,994	-11,463	-9,508	-11,130	-10,192	-10,650	-7,792	-7,146
Sale and/or Maturity of Investments	8,692	9,208	9,370	11,337	9,935	10,482	9,487	8,963	5,733	5,803
Net Cash From Financing Activities	-1,525	-166	201	-2,835	-1,144	-198	-1,289	-1,037	-1,300	-898
Net Cash From Continuing Financing Activities	-1,525	-166	201	-2,835	-1,144	-198	-1,289	-1,037	-1,300	-898
Issuance of Debt	1,828	3,614	3,067	939	2,076	2,659	1,199	573	778	1,294
Repayment of Debt	-1,929	-3,418	-2,411	-1,043	-1,956	-1,726	-1,193	-640	-878	-1,366
Repurchase of Common Equity	-1,265	-134	-216	-1,026	-1,051	-923	-1,136	-729	-849	-608
Payment of Dividends	-255	-218	-223	-201	-174	-169	-129	-159	-131	-140
Other Financing Activities, Net	89	-10	-16	-1,504	-39	-39	-30	-82	-220	-78
Effect of Exchange Rate Changes	-	-13	9.00	-	5.00	9.00	-4.00	-19	5.00	-10

This table details how cash moves in and out of Loews' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-65	-354	62	-131	299	-363	157	-86	78	-7.00	19
Net Cash From Operating Activities	1,246	622	719	1,434	1,277	477	198	952	934	941	736
Net Cash From Continuing Operating Activities	1,246	622	719	1,434	1,277	477	198	952	934	941	736
Net Income / (Loss) Continuing Operations	-27	379	404	388	276	477	485	395	425	189	392
Consolidated Net Income / (Loss)	-27	379	404	388	276	477	485	395	425	189	392
Non-Cash Adjustments to Reconcile Net Income	229	-251	204	96	219	-212	175	75	175	-357	180
Changes in Operating Assets and Liabilities, net	1,044	114	111	950	782	-135	-462	482	334	726	164
Net Cash From Investing Activities	-993	-568	-134	-1,333	-786	-492	-1,026	-250	-740	41	-204
Net Cash From Continuing Investing Activities	-993	-568	-134	-1,333	-786	-492	-1,026	-250	-740	41	-204
Purchase of Property, Leasehold Improvements and Equipment	-125	-223	-159	-140	-164	-223	-159	-159	-140	-174	-98
Purchase of Investment Securities	-2,980	-1,861	-1,843	-2,476	-2,112	-1,361	-2,332	-1,687	-2,086	-1,041	-1,692
Sale and/or Maturity of Investments	2,112	1,516	1,868	1,283	1,490	1,092	1,465	1,596	1,486	1,256	1,586
Net Cash From Financing Activities	-303	-416	-524	-235	-188	-353	987	-787	-122	-976	-520
Net Cash From Continuing Financing Activities	-303	-416	-524	-235	-188	-353	987	-787	-122	-976	-520
Issuance of Debt	34	41	37	426	130	185	1,299	24	-39	10	0.00
Repayment of Debt	-26	-313	-1.00	-501	-1.00	-375	-201	-561	-1.00	-603	-1.00
Repurchase of Common Equity	-231	-118	-462	-131	-116	-140	-24	-179	-59	-346	-394
Payment of Dividends	-23	-26	-59	-25	-24	-23	-70	-23	-24	-23	-68
Other Financing Activities, Net	-57	-	-39	-4.00	-177	-	-17	-48	1.00	-14	-57
Effect of Exchange Rate Changes	-15	8.00	1.00	3.00	-4.00	5.00	-2.00	-1.00	6.00	-13	7.00

This table presents Loews' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	76,006	76,594	79,586	78,316	82,243	80,236	81,626	75,567	79,197	81,943
Cash and Due from Banks	440	327	472	405	336	478	621	532	399	541
Trading Account Securities	40,453	42,043	43,357	40,992	48,174	50,881	6,534	43,690	46,072	5,670
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	15,477	15,230	15,427	15,511	15,568	10,451	9,888	10,027	10,718	10,738
Deferred Acquisition Cost	598	600	846	633	662	708	737	806	896	4,484
Goodwill	351	346	659	665	767	785	349	346	347	347
Other Assets	10,646	10,404	11,212	12,150	16,736	16,933	63,497	20,166	20,765	60,163
Total Liabilities & Shareholders' Equity	76,006	76,594	79,586	78,316	82,243	80,236	81,626	75,567	79,197	81,943
Total Liabilities	53,196	53,233	55,020	56,930	60,313	61,055	62,451	60,366	62,672	64,006
Short-Term Debt	1,607	260	340	59	185	129	183	987	1,163	115
Long-Term Debt	9,520	10,668	11,253	11,359	11,456	10,072	8,986	8,165	7,919	8,939
Claims and Claim Expense	22,663	22,343	22,004	21,984	21,720	22,706	24,174	22,120	23,304	24,976
Future Policy Benefits	10,152	10,326	11,179	10,597	12,311	13,318	13,236	13,480	13,959	13,158
Unearned Premiums Liability	3,671	3,762	4,029	4,183	4,583	5,119	5,761	6,374	6,933	7,346
Other Long-Term Liabilities	5,583	5,874	6,215	8,748	10,058	9,711	10,111	9,240	9,394	9,472
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	22,810	23,361	24,566	21,386	21,930	19,181	19,175	15,201	16,525	17,937
Total Preferred & Common Equity	17,561	18,163	19,204	18,518	19,119	17,860	17,846	14,349	15,704	17,066
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	17,561	18,163	19,204	18,518	19,119	17,860	17,846	14,349	15,704	17,066
Common Stock	3,187	3,190	3,154	3,630	3,377	3,136	2,887	2,750	2,591	2,492
Retained Earnings	14,731	15,196	16,096	15,773	15,823	14,150	14,776	14,931	15,617	16,459
Treasury Stock	-	0.00	-20	-5.00	-13	-7.00	-3.00	-12	-7.00	-18
Accumulated Other Comprehensive Income / (Loss)	-357	-223	-26	-880	-68	581	186	-3,320	-2,497	-1,867
Noncontrolling Interest	5,249	5,198	5,362	2,868	2,811	1,321	1,329	852	821	871

This table presents Loews' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	75,111	75,567	76,560	77,347	76,469	79,197	80,906	81,057	83,617	81,943	83,142
Cash and Due from Banks	886	532	594	463	762	399	556	470	548	541	560
Trading Account Securities	42,969	43,690	5,136	5,529	5,024	46,072	6,492	6,033	6,457	5,670	5,543
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	43,055	0.00	0.00
Premises and Equipment, Net	9,949	10,027	10,098	10,328	10,674	10,718	10,723	10,710	10,689	10,738	10,674
Deferred Acquisition Cost	787	806	4,523	4,574	880	896	4,548	948	4,514	4,484	4,492
Goodwill	344	346	346	347	346	347	347	347	349	347	347
Other Assets	20,176	20,166	55,863	56,106	58,783	20,765	58,240	62,549	18,005	60,163	61,526
Total Liabilities & Shareholders' Equity	75,111	75,567	76,560	77,347	76,469	79,197	80,906	81,057	83,617	81,943	83,142
Total Liabilities	60,458	60,366	61,246	61,877	61,311	62,672	63,908	63,856	65,369	64,006	65,108
Short-Term Debt	1,173	987	1,128	1,152	1,705	1,163	1,880	1,143	982	115	711
Long-Term Debt	8,475	8,165	8,150	8,094	7,925	7,919	8,425	8,558	8,821	8,939	8,441
Claims and Claim Expense	24,700	22,120	22,409	22,802	22,836	23,304	23,588	23,974	24,558	24,976	25,581
Future Policy Benefits	10,454	13,480	13,976	13,666	12,654	13,959	13,513	13,211	14,047	13,158	13,304
Unearned Premiums Liability	6,195	6,374	6,581	6,978	6,789	6,933	7,046	7,409	7,259	7,346	7,504
Other Long-Term Liabilities	9,461	9,240	9,002	9,185	9,402	9,394	9,456	9,561	9,702	9,472	9,567
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	14,653	15,201	15,314	15,470	15,158	16,525	16,998	17,201	18,248	17,937	18,034
Total Preferred & Common Equity	13,846	14,349	14,451	14,603	14,448	15,704	16,184	16,384	17,357	17,066	17,191
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	13,846	14,349	14,451	14,603	14,448	15,704	16,184	16,384	17,357	17,066	17,191
Common Stock	2,888	2,750	2,718	2,730	2,766	2,591	2,549	2,558	2,564	2,492	2,453
Retained Earnings	15,377	14,931	15,293	15,637	15,877	15,617	16,060	16,415	16,802	16,459	16,821
Treasury Stock	-616	-12	-498	-604	-722	-7.00	-24	-206	-271	-18	-398
Accumulated Other Comprehensive Income / (Loss)	-3,803	-3,320	-3,062	-3,160	-3,473	-2,497	-2,401	-2,383	-1,738	-1,867	-1,685
Noncontrolling Interest	807	852	863	867	710	821	814	817	891	871	843

This table displays calculated financial ratios and metrics derived from Loews' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.74%	-2.53%	4.14%	3.08%	6.29%	-15.84%	17.94%	-3.98%	13.60%	9.95%
EBITDA Growth	-55.16%	43.91%	38.06%	-30.63%	17.72%	-140.40%	425.47%	-42.41%	56.83%	-3.67%
EBIT Growth	-86.52%	283.61%	69.02%	-47.28%	34.17%	-230.83%	247.54%	-48.43%	79.17%	-6.11%
NOPAT Growth	-78.79%	149.48%	97.21%	-50.00%	23.37%	-217.66%	264.42%	-47.12%	73.40%	-3.30%
Net Income Growth	-70.17%	149.48%	97.21%	-50.00%	23.37%	-248.22%	230.52%	-47.12%	73.40%	-3.30%
EPS Growth	-53.55%	168.06%	78.76%	-42.32%	54.27%	-208.14%	280.72%	-43.67%	86.09%	1.91%
Operating Cash Flow Growth	18.63%	-36.48%	14.96%	63.01%	-58.76%	0.23%	50.32%	26.34%	17.89%	-22.57%
Free Cash Flow Firm Growth	213.81%	-84.45%	-225.82%	986.68%	-97.44%	2,942.50%	-13.94%	79.29%	-94.04%	-62.20%
Invested Capital Growth	-5.71%	1.04%	5.45%	-9.28%	2.34%	-12.48%	-3.53%	-14.08%	5.15%	5.40%
Revenue Q/Q Growth	-1.41%	-0.03%	1.62%	-1.96%	4.30%	-1.11%	-0.26%	1.02%	3.07%	1.63%
EBITDA Q/Q Growth	-49.63%	16.36%	-14.20%	-40.69%	-0.30%	-140.06%	-30.25%	-41.32%	-31.99%	-44.56%
EBIT Q/Q Growth	-78.91%	3,700.00%	0.06%	-45.38%	83.14%	15.67%	-4.89%	2.58%	8.01%	-18.49%
NOPAT Q/Q Growth	-67.35%	3,627.09%	9.20%	-51.24%	93.99%	15.67%	-4.75%	3.01%	6.77%	-16.16%
Net Income Q/Q Growth	-67.09%	5,407.69%	9.20%	-51.24%	93.99%	14.90%	-4.75%	3.01%	6.77%	-16.16%
EPS Q/Q Growth	-60.00%	250.91%	20.21%	-49.23%	67.76%	15.31%	-0.33%	5.63%	8.26%	-14.76%
Operating Cash Flow Q/Q Growth	14.83%	-26.56%	10.35%	1.13%	-17.02%	-0.91%	23.15%	-8.93%	-3.58%	18.12%
Free Cash Flow Firm Q/Q Growth	23.02%	-57.51%	-895.65%	1.45%	246.67%	-3.32%	15.58%	-10.77%	-69.69%	107.43%
Invested Capital Q/Q Growth	-4.82%	-1.41%	0.11%	-2.26%	-1.21%	-0.38%	-1.95%	0.21%	3.30%	-3.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	9.43%	13.92%	18.46%	12.42%	13.76%	-6.60%	18.23%	10.93%	15.09%	13.22%
EBIT Margin	1.89%	7.45%	12.09%	6.18%	7.80%	-12.13%	15.18%	8.15%	12.86%	10.98%
Profit (Net Income) Margin	2.23%	5.70%	10.79%	5.23%	6.07%	-10.70%	11.84%	6.52%	9.95%	8.75%
Tax Burden Percent	117.62%	76.50%	89.25%	84.65%	77.84%	88.18%	78.01%	79.98%	77.40%	79.72%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	-17.62%	23.50%	10.75%	15.35%	22.16%	0.00%	21.99%	20.02%	22.60%	20.28%
Return on Invested Capital (ROIC)	0.82%	2.10%	4.01%	2.05%	2.62%	-3.26%	5.84%	3.38%	6.18%	5.68%
ROIC Less NNEP Spread (ROIC-NNEP)	0.82%	2.10%	4.01%	2.05%	2.62%	-5.69%	5.84%	3.38%	6.18%	5.68%
Return on Net Nonoperating Assets (RNNOA)	0.39%	1.00%	1.88%	1.03%	1.40%	-3.02%	2.95%	1.80%	3.55%	2.99%
Return on Equity (ROE)	1.21%	3.10%	5.89%	3.07%	4.02%	-6.28%	8.79%	5.18%	9.74%	8.67%
Cash Return on Invested Capital (CROIC)	6.70%	1.07%	-1.30%	11.78%	0.31%	10.05%	9.43%	18.53%	1.16%	0.42%
Operating Return on Assets (OROA)	0.32%	1.23%	2.03%	1.06%	1.39%	-1.80%	2.67%	1.42%	2.58%	2.33%
Return on Assets (ROA)	0.37%	0.94%	1.81%	0.89%	1.09%	-1.59%	2.08%	1.13%	2.00%	1.85%
Return on Common Equity (ROCE)	0.94%	2.40%	4.59%	2.52%	3.49%	-5.65%	8.18%	4.86%	9.23%	8.24%
Return on Equity Simple (ROE_SIMPLE)	1.63%	3.94%	7.35%	3.81%	4.56%	-7.23%	9.44%	6.21%	9.84%	8.75%
Net Operating Profit after Tax (NOPAT)	287	716	1,412	706	871	-1,025	1,685	891	1,545	1,494
NOPAT Margin	2.23%	5.70%	10.79%	5.23%	6.07%	-8.49%	11.84%	6.52%	9.95%	8.75%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	2.44%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.60%	-0.18%	-1.02%	-0.77%	-0.34%
Operating Expenses to Revenue	98.11%	92.55%	87.91%	93.82%	92.20%	112.13%	84.82%	91.85%	87.14%	89.02%
Earnings before Interest and Taxes (EBIT)	244	936	1,582	834	1,119	-1,464	2,160	1,114	1,996	1,874
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,216	1,750	2,416	1,676	1,973	-797	2,594	1,494	2,343	2,257
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.74	0.84	0.85	0.75	0.80	0.68	0.81	0.96	0.99	1.08
Price to Tangible Book Value (P/TBV)	0.76	0.85	0.88	0.78	0.83	0.71	0.83	0.98	1.01	1.10
Price to Revenue (P/Rev)	1.01	1.21	1.25	1.03	1.07	1.01	1.02	1.01	1.00	1.08
Price to Earnings (P/E)	50.13	23.26	14.02	21.90	16.40	0.00	9.28	16.73	10.80	13.04
Dividend Yield	0.68%	0.55%	0.52%	0.56%	0.49%	0.56%	0.44%	0.43%	0.36%	0.30%
Earnings Yield	1.99%	4.30%	7.13%	4.57%	6.10%	0.00%	10.77%	5.98%	9.26%	7.67%
Enterprise Value to Invested Capital (EV/IC)	0.85	0.90	0.91	0.85	0.88	0.79	0.86	0.95	0.98	1.03
Enterprise Value to Revenue (EV/Rev)	2.25	2.47	2.51	2.06	2.05	1.93	1.71	1.70	1.61	1.63
Enterprise Value to EBITDA (EV/EBITDA)	23.82	17.72	13.58	16.59	14.90	0.00	9.40	15.54	10.67	12.33
Enterprise Value to EBIT (EV/EBIT)	118.73	33.13	20.73	33.34	26.27	0.00	11.28	20.85	12.52	14.85
Enterprise Value to NOPAT (EV/NOPAT)	100.94	43.31	23.23	39.39	33.75	0.00	14.47	26.06	16.18	18.63
Enterprise Value to Operating Cash Flow (EV/OCF)	8.17	13.76	12.66	6.59	16.88	13.31	9.29	7.01	6.40	9.20
Enterprise Value to Free Cash Flow (EV/FCFF)	12.38	85.19	0.00	6.85	282.66	7.34	8.95	4.76	85.88	252.98
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.49	0.47	0.47	0.53	0.53	0.53	0.48	0.60	0.55	0.50
Long-Term Debt to Equity	0.42	0.46	0.46	0.53	0.52	0.53	0.47	0.54	0.48	0.50
Financial Leverage	0.47	0.48	0.47	0.50	0.53	0.53	0.51	0.53	0.57	0.53
Leverage Ratio	3.25	3.31	3.26	3.44	3.71	3.95	4.22	4.57	4.88	4.68
Compound Leverage Factor	3.25	3.31	3.26	3.44	3.71	3.95	4.22	4.57	4.88	4.68
Debt to Total Capital	32.79%	31.87%	32.06%	34.81%	34.68%	34.72%	32.35%	37.58%	35.47%	33.54%
Short-Term Debt to Total Capital	4.74%	0.76%	0.94%	0.18%	0.55%	0.44%	0.65%	4.05%	4.54%	0.43%
Long-Term Debt to Total Capital	28.05%	31.11%	31.12%	34.63%	34.12%	34.28%	31.70%	33.53%	30.93%	33.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	15.47%	15.16%	14.83%	8.74%	8.37%	4.50%	4.69%	3.50%	3.21%	3.23%
Common Equity to Total Capital	51.75%	52.97%	53.11%	56.45%	56.95%	60.79%	62.96%	58.92%	61.33%	63.23%
Debt to EBITDA	9.15	6.24	4.80	6.81	5.90	-12.80	3.53	6.13	3.88	4.01
Net Debt to EBITDA	8.79	6.06	4.60	6.57	5.73	-12.20	3.30	5.77	3.71	3.77
Long-Term Debt to EBITDA	7.83	6.10	4.66	6.78	5.81	-12.64	3.46	5.47	3.38	3.96
Debt to NOPAT	38.77	15.26	8.21	16.17	13.37	-9.95	5.44	10.27	5.88	6.06
Net Debt to NOPAT	37.24	14.81	7.88	15.60	12.98	-9.49	5.07	9.67	5.62	5.70
Long-Term Debt to NOPAT	33.17	14.90	7.97	16.09	13.15	-9.83	5.33	9.16	5.13	5.98
Noncontrolling Interest Sharing Ratio	22.37%	22.63%	22.03%	17.91%	13.11%	10.05%	6.91%	6.34%	5.27%	4.91%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,341	364	-458	4,061	104	3,164	2,723	4,882	291	110
Operating Cash Flow to CapEx	228.10%	155.38%	251.21%	478.68%	167.24%	245.77%	544.19%	502.12%	569.53%	478.64%
Free Cash Flow to Firm to Interest Expense	4.50	0.68	-0.71	7.07	0.18	6.14	6.42	12.92	0.77	0.25
Operating Cash Flow to Interest Expense	6.82	4.20	4.01	7.36	2.95	3.39	6.19	8.77	10.39	6.86
Operating Cash Flow Less CapEx to Interest Expense	3.83	1.50	2.41	5.82	1.18	2.01	5.05	7.02	8.57	5.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.17	0.16	0.17	0.17	0.18	0.15	0.18	0.17	0.20	0.21
Fixed Asset Turnover	0.83	0.82	0.85	0.87	0.92	0.93	1.40	1.37	1.50	1.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	33,937	34,289	36,159	32,804	33,571	29,382	28,344	24,353	25,607	26,991
Invested Capital Turnover	0.37	0.37	0.37	0.39	0.43	0.38	0.49	0.52	0.62	0.65
Increase / (Decrease) in Invested Capital	-2,054	352	1,870	-3,355	767	-4,189	-1,038	-3,991	1,254	1,384
Enterprise Value (EV)	28,970	31,009	32,801	27,808	29,397	23,232	24,375	23,222	24,990	27,828
Market Capitalization	13,034	15,210	16,318	13,927	15,281	12,188	14,498	13,750	15,486	18,444
Book Value per Share	$49.56	$53.90	$57.05	$58.94	$64.28	$64.98	$70.35	$60.44	$70.34	$78.36
Tangible Book Value per Share	$48.57	$52.88	$55.09	$56.82	$61.70	$62.12	$68.97	$58.98	$68.79	$76.77
Total Capital	33,937	34,289	36,159	32,804	33,571	29,382	28,344	24,353	25,607	26,991
Total Debt	11,127	10,928	11,593	11,418	11,641	10,201	9,169	9,152	9,082	9,054
Total Long-Term Debt	9,520	10,668	11,253	11,359	11,456	10,072	8,986	8,165	7,919	8,939
Net Debt	10,687	10,601	11,121	11,013	11,305	9,723	8,548	8,620	8,683	8,513
Capital Expenditures (CapEx)	1,555	1,450	1,031	882	1,041	710	482	660	686	632
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	266	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	11,127	10,928	11,593	11,418	11,641	10,201	9,169	9,152	9,082	9,054
Total Depreciation and Amortization (D&A)	972	814	834	842	854	667	434	380	347	383
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.72	$1.93	$3.46	$1.99	$3.08	($3.32)	$6.08	$4.17	$6.30	$6.42
Adjusted Weighted Average Basic Shares Outstanding	362.43M	337.95M	336.61M	319.06M	302.70M	280.32M	259.67M	242.83M	227.48M	220.26M
Adjusted Diluted Earnings per Share	$0.72	$1.93	$3.45	$1.99	$3.07	($3.32)	$6.07	$4.16	$6.29	$6.41
Adjusted Weighted Average Diluted Shares Outstanding	339.00M	338.31M	337.50M	319.93M	303.35M	280.32M	260.20M	243.28M	227.81M	220.53M
Adjusted Basic & Diluted Earnings per Share	$0.00	$1.93	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	339.00M	336.63M	328.83M	311.30M	287.77M	267.05M	248.20M	235.00M	222.20M	212.86M
Normalized Net Operating Profit after Tax (NOPAT)	171	716	1,412	706	871	-1,025	1,685	891	1,545	1,494
Normalized NOPAT Margin	1.32%	5.70%	10.79%	5.23%	6.07%	-8.49%	11.84%	6.52%	9.95%	8.75%
Pre Tax Income Margin	1.89%	7.45%	12.09%	6.18%	7.80%	-12.13%	15.18%	8.15%	12.86%	10.98%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.47	1.75	2.45	1.45	1.89	-2.84	5.09	2.95	5.31	4.25
NOPAT to Interest Expense	0.55	1.34	2.19	1.23	1.47	-1.99	3.97	2.36	4.11	3.39
EBIT Less CapEx to Interest Expense	-2.52	-0.96	0.85	-0.08	0.13	-4.22	3.96	1.20	3.48	2.82
NOPAT Less CapEx to Interest Expense	-2.44	-1.37	0.59	-0.31	-0.29	-3.37	2.84	0.61	2.28	1.95
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	88.85%	30.45%	15.79%	28.47%	19.98%	-13.09%	7.66%	17.85%	8.48%	9.37%
Augmented Payout Ratio	529.62%	49.16%	31.09%	173.80%	140.64%	-84.59%	75.07%	99.66%	63.43%	50.07%

This table displays calculated financial ratios and metrics derived from Loews' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.96%	3.88%	11.55%	16.74%	13.74%	12.52%	11.93%	8.07%	13.57%	6.58%	6.32%
EBITDA Growth	-46.73%	7.29%	14.69%	49.59%	118.44%	22.83%	19.49%	3.40%	28.77%	-38.04%	-8.20%
EBIT Growth	-108.22%	6.41%	18.22%	116.17%	1,524.00%	31.83%	21.19%	-0.20%	54.49%	-69.33%	-18.28%
NOPAT Growth	-107.11%	7.37%	14.77%	107.49%	1,677.14%	25.86%	20.05%	1.80%	53.99%	-60.38%	-19.18%
Net Income Growth	-110.98%	7.37%	14.77%	107.49%	1,122.22%	25.86%	20.05%	1.80%	53.99%	-60.38%	-19.18%
EPS Growth	-110.59%	13.64%	24.81%	132.35%	1,344.44%	32.00%	27.33%	5.70%	62.50%	-56.06%	-15.12%
Operating Cash Flow Growth	9.97%	-34.32%	69.98%	40.18%	2.49%	-23.31%	-72.46%	-33.61%	-26.86%	97.27%	271.72%
Free Cash Flow Firm Growth	450.84%	214.16%	228.07%	-57.60%	-104.60%	-117.78%	-170.02%	-219.80%	-1,245.02%	-53.80%	122.87%
Invested Capital Growth	-15.93%	-14.08%	-10.14%	-4.29%	2.00%	5.15%	11.02%	8.84%	13.16%	5.40%	-0.43%
Revenue Q/Q Growth	2.34%	9.80%	-0.30%	4.20%	-0.29%	8.61%	-0.82%	0.61%	4.79%	1.93%	-1.06%
EBITDA Q/Q Growth	-41.22%	138.55%	5.15%	1.45%	-14.16%	34.14%	2.29%	-12.21%	6.90%	-35.45%	51.54%
EBIT Q/Q Growth	-110.64%	1,960.00%	11.61%	-2.12%	-29.92%	72.19%	2.61%	-19.40%	8.48%	-65.82%	173.40%
NOPAT Q/Q Growth	-109.36%	2,265.71%	6.60%	-3.96%	-28.87%	72.83%	1.68%	-18.56%	7.59%	-55.53%	107.41%
Net Income Q/Q Growth	-114.44%	1,503.70%	6.60%	-3.96%	-28.87%	72.83%	1.68%	-18.56%	7.59%	-55.53%	107.41%
EPS Q/Q Growth	-113.24%	1,766.67%	7.33%	-1.86%	-29.11%	76.79%	3.54%	-18.54%	8.98%	-52.20%	100.00%
Operating Cash Flow Q/Q Growth	21.80%	-50.08%	15.59%	99.44%	-10.95%	-62.65%	-58.49%	380.81%	-1.89%	0.75%	-21.79%
Free Cash Flow Firm Q/Q Growth	30.13%	-4.76%	-27.25%	-52.97%	-114.11%	-268.25%	-186.49%	19.54%	-58.46%	57.89%	142.59%
Invested Capital Q/Q Growth	-5.89%	0.21%	0.98%	0.50%	0.29%	3.30%	6.62%	-1.47%	4.27%	-3.78%	0.72%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	10.63%	23.09%	24.35%	23.71%	20.41%	25.20%	25.99%	22.68%	23.14%	14.65%	22.44%
EBIT Margin	-0.74%	12.57%	14.07%	13.22%	9.29%	14.73%	15.24%	12.21%	12.64%	4.24%	11.71%
Profit (Net Income) Margin	-0.80%	10.25%	10.95%	10.10%	7.20%	11.46%	11.75%	9.51%	9.77%	4.26%	8.93%
Tax Burden Percent	108.00%	81.51%	77.84%	76.38%	77.53%	77.81%	77.11%	77.91%	77.27%	100.53%	76.26%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	18.49%	22.16%	23.62%	22.47%	22.19%	22.89%	22.09%	22.73%	-0.53%	23.74%
Return on Invested Capital (ROIC)	-0.26%	5.31%	5.92%	5.83%	4.42%	7.12%	7.23%	6.00%	6.21%	2.77%	5.68%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.36%	5.31%	5.92%	5.83%	4.42%	7.12%	7.23%	6.00%	6.21%	2.77%	5.68%
Return on Net Nonoperating Assets (RNNOA)	-0.21%	2.83%	3.40%	3.47%	2.86%	4.09%	4.38%	3.48%	3.61%	1.46%	3.16%
Return on Equity (ROE)	-0.47%	8.15%	9.32%	9.30%	7.28%	11.22%	11.61%	9.48%	9.82%	4.22%	8.84%
Cash Return on Invested Capital (CROIC)	20.56%	18.53%	14.31%	8.91%	3.91%	1.16%	-4.18%	-2.14%	-5.61%	0.42%	5.57%
Operating Return on Assets (OROA)	-0.13%	2.19%	2.54%	2.50%	1.85%	2.95%	3.09%	2.51%	2.65%	0.90%	2.47%
Return on Assets (ROA)	-0.14%	1.78%	1.98%	1.91%	1.43%	2.30%	2.38%	1.95%	2.05%	0.90%	1.89%
Return on Common Equity (ROCE)	-0.44%	7.63%	8.76%	8.76%	6.91%	10.63%	11.01%	8.99%	9.35%	4.01%	8.42%
Return on Equity Simple (ROE_SIMPLE)	6.25%	0.00%	6.53%	7.83%	10.02%	0.00%	10.05%	9.97%	10.27%	0.00%	8.15%
Net Operating Profit after Tax (NOPAT)	-18	379	404	388	276	477	485	395	425	189	392
NOPAT Margin	-0.52%	10.25%	10.95%	10.10%	7.20%	11.46%	11.75%	9.51%	9.77%	4.26%	8.93%
Net Nonoperating Expense Percent (NNEP)	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	-1.04%	-0.76%	-0.76%	-1.01%	-0.57%	-0.74%	-0.63%	-0.65%	0.21%	-0.32%	0.02%
Operating Expenses to Revenue	100.74%	87.43%	85.93%	86.78%	90.71%	85.27%	84.76%	87.79%	87.36%	95.76%	88.29%
Earnings before Interest and Taxes (EBIT)	-25	465	519	508	356	613	629	507	550	188	514
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	358	854	898	911	782	1,049	1,073	942	1,007	650	985
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.86	0.96	0.94	0.92	0.98	0.99	1.08	1.01	1.00	1.08	1.14
Price to Tangible Book Value (P/TBV)	0.88	0.98	0.96	0.95	1.01	1.01	1.10	1.03	1.02	1.10	1.16
Price to Revenue (P/Rev)	0.88	1.01	0.97	0.92	0.94	1.00	1.09	1.02	1.03	1.08	1.13
Price to Earnings (P/E)	15.01	16.73	15.50	12.62	10.59	10.80	11.51	10.84	10.37	13.04	14.74
Dividend Yield	0.51%	0.43%	0.43%	0.42%	0.40%	0.36%	0.32%	0.33%	0.32%	0.30%	0.27%
Earnings Yield	6.66%	5.98%	6.45%	7.93%	9.44%	9.26%	8.69%	9.22%	9.64%	7.67%	6.78%
Enterprise Value to Invested Capital (EV/IC)	0.88	0.95	0.94	0.94	0.96	0.98	1.03	0.99	0.98	1.03	1.07
Enterprise Value to Revenue (EV/Rev)	1.59	1.70	1.64	1.58	1.58	1.61	1.75	1.63	1.64	1.63	1.67
Enterprise Value to EBITDA (EV/EBITDA)	8.44	15.54	8.50	7.65	6.91	10.67	7.34	6.91	6.75	12.33	8.09
Enterprise Value to EBIT (EV/EBIT)	19.79	20.85	19.35	15.76	12.88	12.52	13.30	12.63	11.96	14.85	16.49
Enterprise Value to NOPAT (EV/NOPAT)	24.84	26.06	24.50	20.21	16.45	16.18	17.23	16.28	15.43	18.63	20.70
Enterprise Value to Operating Cash Flow (EV/OCF)	5.90	7.01	6.40	5.75	5.88	6.40	8.27	9.15	10.74	9.20	8.14
Enterprise Value to Free Cash Flow (EV/FCFF)	3.93	4.76	6.22	10.27	24.80	85.88	0.00	0.00	0.00	252.98	19.10
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.66	0.60	0.61	0.60	0.64	0.55	0.61	0.56	0.54	0.50	0.51
Long-Term Debt to Equity	0.58	0.54	0.53	0.52	0.52	0.48	0.50	0.50	0.48	0.50	0.47
Financial Leverage	0.58	0.53	0.57	0.59	0.65	0.57	0.61	0.58	0.58	0.53	0.56
Leverage Ratio	4.64	4.57	4.72	4.87	5.08	4.88	4.87	4.85	4.79	4.68	4.68
Compound Leverage Factor	4.64	4.57	4.72	4.87	5.08	4.88	4.87	4.85	4.79	4.68	4.68
Debt to Total Capital	39.70%	37.58%	37.73%	37.41%	38.85%	35.47%	37.74%	36.06%	34.95%	33.54%	33.66%
Short-Term Debt to Total Capital	4.83%	4.05%	4.59%	4.66%	6.88%	4.54%	6.89%	4.25%	3.50%	0.43%	2.62%
Long-Term Debt to Total Capital	34.88%	33.53%	33.14%	32.75%	31.97%	30.93%	30.86%	31.81%	31.45%	33.12%	31.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.32%	3.50%	3.51%	3.51%	2.86%	3.21%	2.98%	3.04%	3.18%	3.23%	3.10%
Common Equity to Total Capital	56.98%	58.92%	58.76%	59.08%	58.29%	61.33%	59.28%	60.90%	61.88%	63.23%	63.23%
Debt to EBITDA	3.79	6.13	3.41	3.06	2.80	3.88	2.70	2.52	2.41	4.01	2.55
Net Debt to EBITDA	3.44	5.77	3.19	2.91	2.57	3.71	2.56	2.40	2.27	3.77	2.40
Long-Term Debt to EBITDA	3.33	5.47	3.00	2.68	2.30	3.38	2.21	2.23	2.17	3.96	2.36
Debt to NOPAT	11.15	10.27	9.84	8.08	6.66	5.88	6.34	5.94	5.50	6.06	6.53
Net Debt to NOPAT	10.13	9.67	9.21	7.68	6.13	5.62	6.00	5.65	5.19	5.70	6.13
Long-Term Debt to NOPAT	9.80	9.16	8.64	7.08	5.48	5.13	5.18	5.24	4.95	5.98	6.03
Noncontrolling Interest Sharing Ratio	6.28%	6.34%	6.01%	5.84%	5.09%	5.27%	5.19%	5.15%	4.79%	4.91%	4.73%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,589	4,370	3,179	1,495	-211	-777	-2,226	-1,791	-2,838	-1,195	509
Operating Cash Flow to CapEx	996.80%	278.92%	452.20%	1,024.29%	778.66%	213.90%	124.53%	598.74%	667.14%	540.80%	751.02%
Free Cash Flow to Firm to Interest Expense	49.88	46.49	33.46	16.43	-2.24	-8.09	-21.61	-15.71	-24.89	-10.86	4.85
Operating Cash Flow to Interest Expense	13.54	6.62	7.57	15.76	13.59	4.97	1.92	8.35	8.19	8.55	7.01
Operating Cash Flow Less CapEx to Interest Expense	12.18	4.24	5.89	14.22	11.84	2.65	0.38	6.96	6.96	6.97	6.08
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.17	0.17	0.18	0.19	0.20	0.20	0.20	0.21	0.21	0.21	0.21
Fixed Asset Turnover	1.36	1.37	1.41	1.44	1.46	1.50	1.53	1.55	1.57	1.59	1.62
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	24,301	24,353	24,592	24,716	24,788	25,607	27,303	26,902	28,051	26,991	27,186
Invested Capital Turnover	0.51	0.52	0.54	0.58	0.61	0.62	0.62	0.63	0.64	0.65	0.64
Increase / (Decrease) in Invested Capital	-4,606	-3,991	-2,775	-1,107	487	1,254	2,711	2,186	3,263	1,384	-117
Enterprise Value (EV)	21,487	23,222	23,107	23,123	23,806	24,990	28,013	26,583	27,499	27,828	28,999
Market Capitalization	11,918	13,750	13,560	13,473	14,228	15,486	17,450	16,535	17,353	18,444	19,564
Book Value per Share	$57.46	$60.44	$61.49	$64.08	$64.07	$70.34	$72.75	$74.00	$79.07	$78.36	$80.76
Tangible Book Value per Share	$56.04	$58.98	$60.02	$62.55	$62.53	$68.79	$71.19	$72.43	$77.48	$76.77	$79.13
Total Capital	24,301	24,353	24,592	24,716	24,788	25,607	27,303	26,902	28,051	26,991	27,186
Total Debt	9,648	9,152	9,278	9,246	9,630	9,082	10,305	9,701	9,803	9,054	9,152
Total Long-Term Debt	8,475	8,165	8,150	8,094	7,925	7,919	8,425	8,558	8,821	8,939	8,441
Net Debt	8,762	8,620	8,684	8,783	8,868	8,683	9,749	9,231	9,255	8,513	8,592
Capital Expenditures (CapEx)	125	223	159	140	164	223	159	159	140	174	98
Net Nonoperating Expense (NNE)	9.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	9,648	9,152	9,278	9,246	9,630	9,082	10,305	9,701	9,803	9,054	9,152
Total Depreciation and Amortization (D&A)	383	389	379	403	426	436	444	435	457	462	471
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.54	$1.50	$1.61	$1.58	$1.12	$1.99	$2.05	$1.67	$1.83	$0.87	$1.74
Adjusted Weighted Average Basic Shares Outstanding	240.37M	242.83M	233.30M	227.69M	225.64M	227.48M	222.47M	221.35M	219.67M	220.26M	212.45M
Adjusted Diluted Earnings per Share	$0.54	$1.50	$1.61	$1.58	$1.12	$1.98	$2.05	$1.67	$1.82	$0.87	$1.74
Adjusted Weighted Average Diluted Shares Outstanding	240.76M	243.28M	233.62M	227.97M	225.99M	227.81M	222.78M	221.60M	219.94M	220.53M	212.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	237.43M	235.00M	227.90M	225.51M	223.25M	222.20M	221.41M	219.52M	217.78M	212.86M	209.70M
Normalized Net Operating Profit after Tax (NOPAT)	-18	379	404	388	276	477	485	395	425	132	392
Normalized NOPAT Margin	-0.52%	10.25%	10.95%	10.10%	7.20%	11.46%	11.75%	9.51%	9.77%	2.97%	8.93%
Pre Tax Income Margin	-0.74%	12.57%	14.07%	13.22%	9.29%	14.73%	15.24%	12.21%	12.64%	4.24%	11.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.27	4.95	5.46	5.58	3.79	6.39	6.11	4.45	4.82	1.71	4.90
NOPAT to Interest Expense	-0.19	4.03	4.25	4.26	2.94	4.97	4.71	3.46	3.73	1.72	3.73
EBIT Less CapEx to Interest Expense	-1.63	2.57	3.79	4.04	2.04	4.06	4.56	3.05	3.60	0.13	3.96
NOPAT Less CapEx to Interest Expense	-1.55	1.66	2.58	2.73	1.19	2.65	3.17	2.07	2.50	0.14	2.80
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	18.38%	17.85%	14.21%	11.63%	9.26%	8.48%	8.73%	8.57%	7.86%	9.37%	9.85%
Augmented Payout Ratio	124.97%	99.66%	126.51%	93.97%	66.41%	63.43%	34.01%	36.68%	30.42%	50.07%	79.66%

Financials Breakdown Chart

Key Financial Trends

Loews Corporation has demonstrated solid financial performance from 2022 through the first quarter of 2025, with consistent profitability and significant operational cash flow generation. Below is an analysis of the key trends observed over the last few years:

Steady Net Income Growth: Net income attributable to common shareholders increased from $355 million in Q4 2022 to $370 million in Q1 2025, showing resilience and gradual growth despite some quarterly fluctuations.
Increasing Earnings Per Share (EPS): Basic and diluted EPS rose from $1.50 in Q4 2022 to $1.74 in Q1 2025, indicating improved shareholder value coupled with a stable share count.
Strong Operating Cash Flow: Net cash from operating activities remains robust and positive each quarter, with $736 million reported in Q1 2025, reflecting efficient cash generation from core operations.
Moderate Capital Expenditures: Loews has maintained manageable levels of capital expenditures for property and equipment, ranging from approximately $98 million in Q1 2025 to higher but controlled levels in earlier quarters, suggesting investment in growth without overextension.
Consistent Dividend Payout: The company consistently paid a quarterly dividend of $0.0625 per share, reflecting a stable commitment to returning value to shareholders over the years.
Stable Total Assets: Total assets have seen moderate growth from $75.57 billion in Q4 2022 to approximately $83.14 billion in Q1 2025, indicating steady business expansion.
Relatively Flat Long-Term Debt: Long-term debt levels hovered around $8.4 to $9.1 billion in the recent quarters, showing stable leverage but potential debt refinancing needs in the future.
Trading Account Securities Fluctuations: The value of trading account securities varied significantly, from about $43.7 billion in late 2022 to $5.5 billion in Q1 2025. This volatility indicates changes in investment portfolio composition, affecting non-interest income and asset composition.
Net Interest Expense: The company consistently reported net interest expense around $100-$114 million per quarter, which slightly reduces net income and could pressure earnings if interest rates rise further.
Property & Liability Insurance Claims: Claim expenses have remained substantial, around $1.6 to $2 billion per quarter, potentially pressuring profitability depending on claim trends and underwriting results.

Summary: Loews Corp has exhibited steadiness in earnings, cash flow generation, and shareholder returns, with growing EPS and net income in recent quarters. The company’s sizeable insurance claim expenses and net interest costs are key areas to monitor. The significant fluctuations in trading securities values underline some portfolio risk but also potential future gains. Overall, Loews remains a financially healthy company with stable fundamentals over the past several years.

09/17/25 10:40 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Loews' Financials

When does Loews' financial year end?

According to the most recent income statement we have on file, Loews' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Loews' net income changed over the last 9 years?

Loews' net income appears to be on an upward trend, with a most recent value of $1.49 billion in 2024, rising from $287 million in 2015. The previous period was $1.55 billion in 2023.

How has Loews' revenue changed over the last 9 years?

Over the last 9 years, Loews' total revenue changed from $12.90 billion in 2015 to $17.07 billion in 2024, a change of 32.4%.

How much debt does Loews have?

Loews' total liabilities were at $64.01 billion at the end of 2024, a 2.1% increase from 2023, and a 20.3% increase since 2015.

How much cash does Loews have?

In the past 9 years, Loews' cash and equivalents has ranged from $327 million in 2016 to $621 million in 2021, and is currently $541 million as of their latest financial filing in 2024.

How has Loews' book value per share changed over the last 9 years?

Over the last 9 years, Loews' book value per share changed from 49.56 in 2015 to 78.36 in 2024, a change of 58.1%.

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This page (NYSE:L) was last updated on 9/17/2025 by MarketBeat.com Staff

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Loews (L) Financials

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Loews (L) Financials

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