Loews Corporation (L) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+14.8%

$127.06

vs $110.72 price

Levered DCF

$428.13

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

0.61

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	13.21×	13.19×	11.18×	17.21×	9.59×	-13.56×	17.04×	22.87×
P/B	1.18×	1.09×	1.02×	0.99×	0.84×	0.71×	0.83×	0.78×
P/S	1.21×	1.08×	1.02×	1.01×	1.09×	0.92×	1.08×	1.03×
EV / EBITDA	9.31×	9.34×	8.46×	11.32×	7.57×	-103.49×	10.21×	10.99×
Gross margin	43.9%	44.7%	44.4%	42.0%	43.1%	44.5%	51.2%	50.8%
Operating margin	12.6%	10.9%	12.7%	7.9%	15.7%	-10.7%	7.6%	5.9%
Net margin	9.2%	8.2%	9.1%	5.9%	11.4%	-6.8%	6.3%	4.5%
Current ratio	0.48×	0.48×	12.98×	1.52×	321.04×	0×	0×	0×
Debt / equity	0.51×	0.52×	0.57×	0.63×	0.51×	0.57×	0.6×	0.61×
Interest coverage	5.22×	4.25×	5.31×	2.95×	5.09×	-2.84×	1.89×	1.45×
Dividend yield	0.2%	0.3%	0.4%	0.4%	0.4%	0.6%	0.5%	0.6%
Payout ratio	3.1%	3.9%	4.0%	7.4%	4.2%	-7.5%	8.2%	12.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.9%	8.3%	9.1%	5.7%	8.8%	-5.2%	4.9%	3.4%
Return on invested capital	3.8%	3.4%	2.0%	2.1%	2.1%	-3489.2%	1131.2%	4152.9%
Return on assets	1.9%	1.7%	1.8%	1.1%	1.9%	-1.2%	1.1%	0.8%
Free cash flow yield	12.3%	12.8%	20.1%	18.7%	14.3%	8.2%	4.4%	22.2%
Earnings yield	7.6%	7.6%	8.9%	5.8%	10.4%	-7.4%	5.9%	4.4%
Enterprise value	$31B	$27.1B	$24.6B	$22.7B	$23.5B	$22.3B	$27.1B	$25.5B
Net debt / EBITDA	2.7×	2.9×	2.96×	4.24×	2.73×	-44.8×	4.22×	4.73×
Cash conversion cycle (days)	219	218	211	238	232	195	175	194