Latest Ratios: P/E Ratio 14.7x · EV/EBITDA 11.4x · ROE 8.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $24.1B | $22.0B | $18.7B | $15.9B | $14.2B | $15.0B | $12.6B | $15.9B | $14.6B | $16.9B | $15.8B |
| Enterprise Value | $33.1B | $31.0B | $27.1B | $24.5B | $22.7B | $23.5B | $22.3B | $27.1B | $25.5B | $27.9B | $26.3B |
| P/E Ratio → | 14.67 | 13.21 | 13.21 | 11.06 | 17.26 | 9.63 | — | 17.10 | 22.87 | 14.50 | 24.26 |
| P/S Ratio | 1.32 | 1.21 | 1.08 | 1.01 | 1.01 | 1.09 | 0.92 | 1.08 | 1.04 | 1.23 | 1.21 |
| P/B Ratio | 1.25 | 1.12 | 1.04 | 0.96 | 0.93 | 0.78 | 0.66 | 0.73 | 0.68 | 0.69 | 0.68 |
| P/FCF | 8.91 | 8.16 | 7.80 | 4.92 | 5.35 | 7.02 | 12.19 | 22.75 | 4.51 | 10.83 | 19.73 |
| P/OCF | 7.34 | 6.72 | 6.17 | 4.06 | 4.28 | 5.73 | 7.23 | 9.15 | 3.45 | 6.52 | 7.03 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.71 | 1.57 | 1.56 | 1.61 | 1.71 | 1.63 | 1.84 | 1.82 | 2.03 | 2.01 |
| EV / EBITDA | 11.43 | 10.72 | 11.02 | 9.65 | 13.97 | 8.78 | — | 13.15 | 14.62 | 11.38 | 14.80 |
| EV / EBIT | 14.48 | 11.40 | 11.70 | 10.31 | 15.20 | 9.09 | — | 15.86 | 18.14 | 12.54 | 17.86 |
| EV / FCF | — | 11.49 | 11.32 | 7.59 | 8.54 | 10.97 | 21.50 | 38.74 | 7.91 | 17.93 | 32.74 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.9% | 43.9% | 44.7% | 44.4% | 42.0% | 43.1% | 44.5% | 51.2% | 50.8% | 52.4% | 50.3% |
| Operating Margin | 12.6% | 12.6% | 10.9% | 12.7% | 7.9% | 15.7% | -10.7% | 7.6% | 5.9% | 11.5% | 7.1% |
| Net Profit Margin | 9.2% | 9.2% | 8.2% | 9.1% | 5.9% | 11.4% | -6.8% | 6.3% | 4.5% | 8.5% | 5.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.9% | 8.9% | 8.2% | 9.0% | 4.8% | 8.1% | -4.5% | 4.3% | 2.8% | 4.9% | 2.8% |
| ROA | 2.0% | 2.0% | 1.8% | 1.9% | 1.0% | 1.9% | -1.1% | 1.2% | 0.8% | 1.5% | 0.9% |
| ROIC | 6.2% | 6.2% | 5.5% | 6.1% | 3.3% | 5.7% | -3.5% | 2.6% | 1.8% | 3.4% | 2.1% |
| ROCE | 5.0% | 5.0% | 3.1% | 3.4% | 1.8% | 2.7% | -1.8% | 1.4% | 1.1% | 2.0% | 1.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.48 | 0.48 | 0.50 | 0.54 | 0.59 | 0.47 | 0.53 | 0.53 | 0.53 | 0.47 | 0.46 |
| Debt / EBITDA | 3.28 | 3.28 | 3.64 | 3.55 | 5.56 | 3.39 | — | 5.59 | 6.52 | 4.70 | 6.07 |
| Net Debt / Equity | — | 0.46 | 0.47 | 0.52 | 0.56 | 0.44 | 0.50 | 0.51 | 0.51 | 0.45 | 0.45 |
| Net Debt / EBITDA | 3.11 | 3.11 | 3.42 | 3.40 | 5.23 | 3.16 | — | 5.43 | 6.28 | 4.50 | 5.88 |
| Debt / FCF | — | 3.33 | 3.51 | 2.67 | 3.20 | 3.95 | 9.31 | 16.00 | 3.40 | 7.09 | 13.01 |
| Interest Coverage | 6.22 | 6.22 | 5.25 | 6.31 | 3.95 | 6.09 | -1.84 | 2.89 | 2.45 | 3.45 | 2.75 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.48 | 0.48 | 0.48 | 12.98 | 1.52 | 321.04 | — | — | — | — | — |
| Quick Ratio | 0.48 | 0.48 | 0.48 | 12.98 | 1.52 | 321.04 | — | — | — | — | — |
| Cash Ratio | 0.21 | 0.21 | 0.20 | 5.06 | 1.25 | 272.43 | — | — | — | — | — |
| Asset Turnover | — | 0.21 | 0.21 | 0.20 | 0.19 | 0.17 | 0.17 | 0.18 | 0.18 | 0.17 | 0.17 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.2% | 0.2% | 0.3% | 0.4% | 0.4% | 0.4% | 0.6% | 0.5% | 0.5% | 0.5% | 0.5% |
| Payout Ratio | 3.1% | 3.1% | 3.9% | 4.0% | 7.4% | 4.2% | — | 8.2% | 12.6% | 7.2% | 12.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.8% | 7.6% | 7.6% | 9.0% | 5.8% | 10.4% | — | 5.8% | 4.4% | 6.9% | 4.1% |
| FCF Yield | 11.2% | 12.3% | 12.8% | 20.3% | 18.7% | 14.2% | 8.2% | 4.4% | 22.2% | 9.2% | 5.1% |
| Buyback Yield | 3.3% | 3.7% | 3.3% | 5.4% | 5.1% | 7.6% | 7.3% | 6.6% | 17.4% | 1.3% | 0.8% |
| Total Shareholder Yield | 3.6% | 3.9% | 3.5% | 5.7% | 5.6% | 8.0% | 7.9% | 7.1% | 17.9% | 1.8% | 1.4% |
| Shares Outstanding | — | $209M | $221M | $228M | $243M | $260M | $280M | $303M | $320M | $338M | $338M |
Social inflation litigation exposure
With a P/B ratio of 1.21, Loews Corporation trades at a valuation that appears to reflect a persistent conglomerate discount, as reported in recent financial data, potentially undervaluing the underlying asset quality of its insurance-led portfolio compared to more specialized peers like Markel Group.
The current P/B multiple suggests that the market may be applying a haircut to the consolidated entity due to the complexity of its non-insurance segments. Investors should monitor whether this discount narrows as the company continues its disciplined share repurchase program, which effectively serves as a floor for valuation when the stock trades near book value.
According to quarterly financial disclosures, Loews Corporation has maintained a disciplined underwriting profile, with the combined ratio consistently hovering below 90%, reaching a low of 84.9% in 2024Q1, which underscores the operational efficiency of its core CNA Financial insurance subsidiary.
The ability to sustain a combined ratio well below the 100% threshold suggests that the company is successfully navigating the current pricing environment in specialty lines. However, the fluctuation in the loss ratio between 47.7% and 57.1% warrants further investigation into whether these variances are driven by seasonal catastrophe activity or underlying shifts in claim severity.
Based on reported figures, Loews Corporation maintains a D/E ratio of approximately 0.48, which, as noted in recent SEC filings, indicates a fortress balance sheet that provides the necessary liquidity to support its subsidiaries while maintaining a significant buffer against potential underwriting or market-driven shocks.
This conservative leverage profile appears to be a deliberate strategic choice, allowing the parent company to act as a source of strength during periods of market dislocation. The stability of this ratio over the last ten quarters suggests that management is not over-extending the balance sheet to chase growth, prioritizing long-term capital preservation instead.
The P/E ratio is frequently misapplied to Loews Corporation, as reported in market analysis, because it fails to account for the significant non-cash reserve adjustments and investment portfolio volatility that can distort earnings, making P/B a more reliable anchor for assessing the company's true value.
Relying on P/E ignores the fact that a substantial portion of the company's earnings is derived from investment income on float and non-insurance segments with different capital intensities. Investors should instead focus on the combined ratio and book value growth to better gauge the underlying health of the insurance franchise and the effectiveness of the Tisch family's capital allocation.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying L stock.
Loews Corporation's current P/E ratio is 14.7x. The historical average is 17.7x. This places it at the 52th percentile of its historical range.
Loews Corporation's current EV/EBITDA is 11.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.4x.
Loews Corporation's return on equity (ROE) is 8.9%. The historical average is 6.0%.
Based on historical data, Loews Corporation is trading at a P/E of 14.7x. This is at the 52th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Loews Corporation's current dividend yield is 0.21% with a payout ratio of 3.1%.
Loews Corporation has 43.9% gross margin and 12.6% operating margin. Operating margin between 10-20% is typical for established companies.
Loews Corporation's Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.