NYSE · Financial Statements

Loews Corporation (L) Financial Statements

$112.01 NYSE: L Market Cap $22.90B

Loews Corporation most recently reported annual revenue of $18.2B, net profit of $1.7B. Revenue grew at an average annual rate of 5.9% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Loews Corporation: Revenue rose from $13.1B in 2016 to $18.2B in 2025, a change of +38.7% over 9 years; net profit was positive in 9 of 10 reported years; operating margin moved from 7.1% to 12.6%, a shift of +5.4 percentage points; the most recent year shows net profit of $1.7B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$13.1B$13.7B$14.0B$14.7B$13.7B$13.7B$14.1B$15.7B$17.2B$18.2B
Operating Expenses$12.2B$12.2B$13.2B$13.6B$15.1B$11.6B$12.9B$13.7B$15.4B$15.9B
Operating Profit$936.0M$1.6B$834.0M$1.1B$-1.5B$2.2B$1.1B$2.0B$1.9B$2.3B
Operating Margin7.1%11.5%5.9%7.6%-10.7%15.7%7.9%12.7%10.9%12.6%
Other Income$0$0$0$0$0$0$0$0$0$0
Interest$536.0M$646.0M$574.0M$591.0M$515.0M$424.0M$378.0M$376.0M$441.0M$437.0M
Depreciation$841.0M$874.0M$912.0M$943.0M$734.0M$515.0M$509.0M$538.0M$583.0M$610.0M
Profit Before Tax$936.0M$1.6B$834.0M$1.1B$-1.5B$2.2B$1.1B$2.0B$1.9B$2.3B
Tax$23.5M$10.8M$15.3M$22.2M$11.8M$22.0M$20.0M$22.6M$20.3M$22.4M
Net Profit$654.0M$1.2B$636.0M$932.0M$-931.0M$1.6B$822.0M$1.4B$1.4B$1.7B
EPS$1.93$3.45$1.99$3.07$-3.32$6.00$3.38$6.29$6.41$7.97
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$3.9B$4.2B$4.2B$4.2B$4.4B$4.5B$4.4B$4.5B$4.6B$4.7B$4.6B$4.7B
Operating Expenses$3.5B$3.6B$3.5B$3.7B$3.8B$4.3B$3.9B$3.9B$3.9B$4.1B$4.0B$3.4B
Operating Profit$356.0M$613.0M$629.0M$507.0M$550.0M$188.0M$514.0M$539.0M$689.0M$541.0M$539.0M$1.3B
Operating Margin9.1%14.6%15.1%12.1%12.5%4.2%11.6%12.1%15.0%11.6%11.8%27.6%
Interest$94.0M$96.0M$103.0M$114.0M$114.0M$110.0M$105.0M$107.0M$112.0M$113.0M$113.0M$103.0M
Profit Before Tax$356.0M$613.0M$629.0M$507.0M$550.0M$188.0M$514.0M$539.0M$689.0M$541.0M$463.0M$612.0M
Tax$22.5M$22.2M$22.9M$22.1M$22.7M$-530,000$23.7M$22.8M$22.2M$20.9M$-23.5M$23.0M
Net Profit$253.0M$446.0M$457.0M$369.0M$401.0M$187.0M$370.0M$391.0M$504.0M$402.0M$572.0M$444.0M
EPS$1.12$1.98$0.15$1.67$1.82$0.86$1.74$1.87$2.43$1.92$1.63$2.16

Over the 10 years reported for Loews Corporation, borrowings decreased from $10.8B in 2016 to $9.5B in 2025, cash stood at $495.0M in the latest year, shareholders' equity was $2.0M, current assets covered current liabilities 0.48 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$76.6B$79.6B$78.3B$82.2B$80.2B$81.6B$75.6B$79.2B$81.9B$86.3B
Current Assets$0$0$0$0$0$58.8B$52.5B$15.1B$18.2B$19.5B
Cash$327.0M$472.0M$405.0M$336.0M$478.0M$621.0M$532.0M$399.0M$541.0M$495.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$7.2B$7.2B$7.6B$7.3B$7.5B$8.9B$9.4B$9.2B$10.5B$11.0B
Fixed Assets$15.2B$15.4B$15.5B$15.6B$10.5B$9.9B$10.0B$10.7B$10.7B$10.7B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$95.7B$97.4B$90.7B$97.0B$102.0B$102.1B$46.8B$53.7B$51.1B$55.4B
Other Assets$346.0M$659.0M$665.0M$767.0M$785.0M$349.0M$346.0M$347.0M$347.0M$349.0M
Total Liabilities$53.2B$55.0B$56.9B$60.3B$61.1B$62.5B$60.4B$62.7B$64.0B$66.7B
Current Liabilities$0$0$0$0$0$183.0M$34.4B$1.2B$37.5B$40.3B
Borrowings$10.8B$11.5B$11.4B$11.5B$10.1B$9.1B$9.0B$9.0B$8.9B$9.5B
Other Liabilities$42.5B$43.5B$45.6B$48.8B$50.9B$53.4B$51.3B$53.7B$55.1B$57.2B
Equity$3.0M$3.0M$3.0M$3.0M$3.0M$2.0M$2.0M$2.0M$2.0M$2.0M
Reserves$18.2B$19.2B$18.5B$19.1B$17.9B$17.8B$14.3B$15.7B$17.1B$18.7B

For Loews Corporation, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $2.7B; free cash flow was positive in 10 of 10 years; financing activities used $993.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$2.3B$2.6B$4.2B$1.7B$1.7B$2.6B$3.3B$3.9B$3.0B$3.3B
Investing Cash Flow$-3.6B$-3.7B$-2.4B$-1.7B$-2.1B$-1.7B$-3.0B$-3.4B$-2.6B$-3.4B
Financing Cash Flow$-278.0M$-371.0M$-2.6B$-1.2B$-1.1B$-1.2B$-909.0M$-1.1B$-771.0M$-993.0M
Net Cash Flow$-113.0M$145.0M$-67.0M$-69.0M$142.0M$143.0M$-89.0M$-133.0M$142.0M$-46.0M
Free Cash Flow$803.0M$1.6B$3.2B$700.0M$1.0B$2.1B$2.7B$3.2B$2.4B$2.7B

Valuation & Return Ratios

MetricValue
PEG Ratio0.44
EV / EBITDA8.79
FCF Yield9.26%
Quick Ratio0.59
Interest Coverage6.98
Return 1Y12.58%
Return 3Y78.88%
Return 5Y93.04%

Loews Corporation (L) financials — frequently asked questions

What is Loews Corporation's annual revenue?

Loews Corporation (L) reported annual revenue of $18.2B in its most recent fiscal year.

What is Loews Corporation's net profit?

Loews Corporation (L) reported net profit of $1.7B in its most recent fiscal year.

What is L EV/EBITDA?

Loews Corporation's enterprise value to EBITDA (EV/EBITDA) ratio is 8.79.

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