Loews Corporation Financial Ratios — L Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	7.21	3.78	3.88	3.81	1.72	4.37	7.44	3.99	5.9	-6.21	10.8	5.53	9.39	8.82	9.85
Return on Assets (%)	1.4	0.73	0.74	0.75	0.34	0.86	1.49	0.81	1.16	-1.15	1.93	1.05	1.85	1.75	1.98
Return on Capital (%)	2.9	1.19	1.39	1.88	- -	3.25	4.65	3.34	4.83	- -	6.97	4.22	6.42	6.52	7.03
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	15.75	14.37	15.58	12.64	1.82	7.14	11.52	5.94	7.6	-10.71	15.74	7.93	12.73	10.87	12.56
Profit Margin (%)	7.52	4.04	4.07	4.13	1.94	4.99	8.47	4.53	6.33	-6.81	11.38	5.85	9.15	8.2	9.17
Net Income to Common Margin (%)	7.52	4.04	4.07	4.13	1.94	4.99	8.47	4.53	6.33	-6.81	11.38	5.85	9.15	8.2	9.17
Effective Tax Rate (%)	23.9	25.37	28.81	25.25	- -	23.5	10.75	15.35	22.16	- -	21.99	20.02	22.6	20.28	22.38
Dvd Payout Ratio (%)	4.34	4.83	4.63	5.51	28.66	10.8	5.06	10.31	9.38	-4.24	3.6	6.35	3.44	3.49	2.77
Sustainable Growth Rate (%)	6.9	3.59	3.7	3.6	1.23	3.9	7.06	3.58	5.34	-6.47	10.41	5.18	9.06	8.51	9.58

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	9,001	9,210	10,344	10,668	10,560	10,778	11,533	11,376	11,533	10,109	9,079	9,019	9,003	8,944	9,489
ST Debt	88	19	819	335	1,040	110	280	17	77	37	93	854	1,084	5	1,052
LT Debt	8,913	9,191	9,525	10,333	9,520	10,668	11,253	11,359	11,456	10,072	8,986	8,165	7,919	8,939	8,437
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	-2.56	-3.3	-4.09	-5.53	-2.99	-2.71	-1.6	-1.73	-1.76	-1.38	-1.14	-1.75	-1.82	-1.43	-1.32
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	522	426	425	498	520	536	646	574	591	515	424	378	376	441	437
Common Equity/Total Assets	19.79	18.99	19.4	19.8	19.39	19.84	20.23	20.14	19.24	17.64	18.1	19.76	19.72	20.09	20.13
Long-Term Debt/Equity (%)	38.41	37.25	38.24	41.92	41.74	45.67	45.81	53.11	52.24	52.51	46.86	53.71	47.92	49.84	42.96
Long-Term Debt/Capital (%)	31.47	31.03	30.43	32.74	31.17	34.22	34.11	37.84	37.97	39.37	35.68	32.92	31.12	34.02	30.32
Long-Term Debt/Total Assets (%)	11.84	11.49	11.92	13.19	12.53	13.93	14.14	14.5	13.93	12.55	11.01	10.8	10	10.91	9.77
Total Debt/Equity (%)	38.79	37.32	41.53	43.28	46.3	46.14	46.95	53.19	52.59	52.7	47.35	59.33	54.48	49.86	48.31
Total Debt/Capital (%)	31.78	31.09	33.04	33.81	34.57	34.57	34.95	37.89	38.23	39.51	36.05	36.36	35.38	34.04	34.1
Total Debt/Total Assets (%)	11.96	11.51	12.94	13.61	13.89	14.07	14.49	14.53	14.02	12.6	11.12	11.94	11.37	10.91	10.99
Net Debt to Equity	38.24	36.4	40.35	41.8	44.37	44.74	45.03	51.3	51.06	50.21	44.11	55.83	52.07	46.85	45.79
Net Debt/Capital (%)	31.46	30.56	32.41	33.03	33.62	33.88	34.01	37.05	37.53	38.36	34.43	34.97	34.36	32.65	32.91
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	-1,335	-1,405	-1,737	-2,753	-1,555	-1,450	-1,031	-995	-1,041	-710	-482	-660	-686	-632	-579
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	19.79	18.99	19.4	19.8	19.39	19.84	20.23	20.14	19.24	17.64	18.1	19.76	19.72	20.09	20.13
Long-Term Debt/Equity (%)	38.41	37.25	38.24	41.92	41.74	45.67	45.81	53.11	52.24	52.51	46.86	53.71	47.92	49.84	42.96
Long-Term Debt/Capital (%)	31.47	31.03	30.43	32.74	31.17	34.22	34.11	37.84	37.97	39.37	35.68	32.92	31.12	34.02	30.32
Long-Term Debt/Total Assets (%)	11.84	11.49	11.92	13.19	12.53	13.93	14.14	14.5	13.93	12.55	11.01	10.8	10	10.91	9.77
Total Debt/Equity (%)	38.79	37.32	41.53	43.28	46.3	46.14	46.95	53.19	52.59	52.7	47.35	59.33	54.48	49.86	48.31
Total Debt/Capital (%)	31.78	31.09	33.04	33.81	34.57	34.57	34.95	37.89	38.23	39.51	36.05	36.36	35.38	34.04	34.1
Total Debt/Total Assets (%)	11.96	11.51	12.94	13.61	13.89	14.07	14.49	14.53	14.02	12.6	11.12	11.94	11.37	10.91	10.99
CFO/Total Liabilities	7.62	5.16	3.81	5.57	6.67	4.23	4.71	7.42	2.89	2.86	4.2	5.49	6.23	4.73	4.92
CFO/CapEx	2.97	2.03	1.21	1.09	2.28	1.55	2.51	4.24	1.67	2.46	5.44	5.02	5.7	4.79	5.66
Altman's Z-Score	0.63	0.61	0.65	0.63	0.59	0.62	0.64	0.62	0.61	0.55	0.57	0.61	0.63	0.67	0.69

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	1.58	1.77	1.8	1.94	2.02	1.98	2.07	2.1	2.19	1.99	1.77	1.65	1.79	1.85	1.83
Days Sales Outstanding	230.81	205.79	202.58	188.18	180.57	184.56	176.29	173.98	166.69	183.7	206.52	221.34	203.53	197.23	199.74
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	13,942	15,141	17,730	14,902	12,495	15,245	16,305	14,134	15,541	12,421	14,830	14,062	15,780	18,677	22,006
- Cash & Cash Equivalents	129	228	294	364	440	327	472	405	336	478	621	532	399	541	495
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	4,431	5,217	5,448	5,370	5,249	5,198	5,362	2,868	2,811	1,321	1,329	852	821	871	955
+ Total Debt	9,001	9,210	10,344	10,668	10,560	10,778	11,533	11,376	11,533	10,109	9,079	9,019	9,003	8,944	9,489
Enterprise Value	-17,791	-19,099	-14,741	-16,203	-16,527	-14,764	-13,402	-15,438	-17,266	-25,905	-24,616	-19,080	19,718	21,592	24,522
Total Capital	28,326	29,623	31,304	31,557	30,543	31,175	32,994	30,020	30,170	25,583	25,186	24,804	25,443	26,276	27,823
Total Debt/Capital (%)	31.78	31.09	33.04	33.81	34.57	34.57	34.95	37.89	38.23	39.51	36.05	36.36	35.38	34.04	34.1
Total Debt / EV	-0.51	-0.48	-0.7	-0.66	-0.64	-0.73	-0.86	-0.74	-0.67	-0.39	-0.37	-0.47	0.46	0.41	0.39
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.26	1.25	1.35
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.7	6.39	6.78
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.04	5.39	5.84
Diluted Market Cap	14,263	15,170	17,769	15,287	13,332	15,261	16,348	14,173	15,574	12,421	14,860	14,088	15,803	18,677	22,020
Diluted Enterprise Value	27,566	29,369	33,267	30,961	28,701	30,910	32,772	28,012	29,582	23,373	24,647	23,427	25,228	27,951	31,969
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	86.68	97.91	117.35
TTM Sales	14,129	14,072	14,613	14,325	13,415	13,105	13,735	14,044	14,727	13,667	13,727	14,050	15,678	17,239	18,176
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	4,362	3,172	2,399	3,362	4,159	2,663	3,167	4,708	2,201	2,199	2,954	3,616	4,198	3,377	3,618
TTM Free Cash Flow to Firm	5,697	4,577	4,136	6,115	5,714	4,113	4,198	5,703	3,242	2,909	3,436	4,276	4,884	4,009	4,197

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	2.69	3.56	4.64	2.66	2.61	4.12	4.51	2.72	5.6	5.06	4.79	3.55	3.44	5.11	5.71
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-17,791	-19,099	-14,741	-16,203	-16,527	-14,764	-13,402	-15,438	-17,266	-25,905	-24,616	-19,080	19,718	21,592	24,522
Low Price	32.9	37.02	41.06	39.04	34.4	33.84	45.01	42.06	44.17	27.33	44.16	49.36	52.85	69.64	78.98
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.26	1.25	1.35
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	13.13	26.66	29.8	25.22	48.06	23.31	14.01	22.22	16.67	- -	9.49	17.11	11	13.21	13.2
Price/Earnings Average	13.83	26.17	28.03	25.92	48.55	20.04	13.31	24.11	15.9	-11.57	8.86	17.26	9.71	12.1	11.65
Price/Earnings High	16.9	30.16	32.29	30.38	55.93	24.83	14.75	26.88	18.25	-17.13	9.87	20.15	11.24	13.64	13.67
Price/Earnings Low	12.27	25.75	26.82	24.64	44.97	17.49	13.02	21.1	14.35	-8.23	7.34	14.58	8.38	10.86	9.9
Price/Book Value	0.94	1	1.14	0.96	0.85	1	1.01	0.9	0.98	0.88	1	0.94	1.01	1.13	1.27
Price/Book Value Average	0.99	0.98	1.08	0.99	0.86	0.86	0.96	0.97	0.94	0.76	0.94	0.95	0.89	1.04	1.12
Price/Book Value High	1.21	1.13	1.24	1.16	0.99	1.07	1.07	1.08	1.07	1.13	1.04	1.11	1.03	1.17	1.31
Price/Book Value Low	0.88	0.96	1.03	0.94	0.79	0.75	0.94	0.85	0.84	0.54	0.78	0.8	0.77	0.93	0.95
Price/Tangible Book Value	0.63	0.64	0.72	0.61	0.56	0.67	0.7	0.7	0.76	0.7	0.79	0.95	0.98	1.06	1.14
Price/Tangible Book Value Average	0.66	0.63	0.68	0.63	0.56	0.57	0.67	0.76	0.72	0.61	0.74	0.96	0.87	0.97	1.01
Price/Tangible Book Value High	0.81	0.72	0.78	0.74	0.65	0.71	0.74	0.85	0.83	0.9	0.82	1.12	1.01	1.1	1.18
Price/Tangible Book Value Low	0.58	0.62	0.65	0.6	0.52	0.5	0.65	0.67	0.65	0.43	0.61	0.81	0.75	0.87	0.86
Price/Sales	0.99	1.08	1.21	1.04	0.93	1.16	1.19	1.01	1.06	0.91	1.08	1	1.01	1.08	1.21
Price/Sales Average	1.04	1.06	1.14	1.07	0.94	1	1.13	1.09	1.01	0.79	1.01	1.01	0.89	0.99	1.07
Price/Sales High	1.27	1.22	1.31	1.25	1.08	1.24	1.25	1.22	1.16	1.17	1.12	1.18	1.03	1.12	1.25
Price/Sales Low	0.92	1.04	1.09	1.02	0.87	0.87	1.1	0.96	0.91	0.56	0.84	0.85	0.77	0.89	0.91
Price/Cash Flow	3.52	5.31	8.46	4.98	3.52	6.77	6.3	3.35	8.93	7.12	5.65	4.24	4.04	6.17	6.71
Price/Cash Flow Average	3.7	5.21	7.96	5.12	3.56	5.82	5.98	3.63	8.51	6.18	5.27	4.28	3.56	5.66	5.92
Price/Cash Flow High	4.53	6	9.17	6.01	4.1	7.21	6.63	4.05	9.77	9.14	5.88	5	4.13	6.38	6.95
Price/Cash Flow Low	3.29	5.13	7.61	4.87	3.3	5.08	5.85	3.18	7.68	4.39	4.37	3.62	3.08	5.08	5.03
Price/Free Cash Flow Average	2.83	3.5	4.36	2.74	2.64	3.54	4.29	2.95	5.34	4.39	4.46	3.58	3.03	4.68	5.04
Price/Free Cash Flow High	3.47	4.03	5.02	3.21	3.04	4.39	4.76	3.29	6.13	6.49	4.98	4.18	3.52	5.27	5.91
Price/Free Cash Flow Low	2.52	3.44	4.17	2.6	2.45	3.09	4.2	2.58	4.82	3.12	3.7	3.02	2.62	4.2	4.28
EV/Sales Average	1.98	2.07	2.2	2.16	2.09	2.19	2.32	2.08	1.96	1.59	1.72	1.67	1.49	1.53	1.62
EV/Sales High	2.21	2.23	2.38	2.35	2.23	2.43	2.45	2.2	2.11	1.97	1.84	1.84	1.63	1.66	1.8
EV/Sales Low	1.86	2.05	2.15	2.11	2.02	2.07	2.3	1.94	1.86	1.36	1.55	1.52	1.37	1.43	1.46
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	35.19	38.32	45.62	39.96	36.76	45.11	48.44	44.3	51.34	44.31	57.11	57.91	69.37	84.69	105.31
High Price	45.31	43.36	49.43	48.15	42.78	48.05	51.02	53.59	56.2	56.88	59.39	68.2	70.88	87.45	109.06
Enterprise Value Average	27,990	29,066	32,177	30,992	27,992	28,753	31,911	29,176	28,825	21,728	23,619	23,527	23,344	26,381	29,366
Enterprise Value High	31,255	31,331	34,708	33,631	29,910	31,887	33,597	30,937	31,020	26,897	25,209	25,900	25,549	28,559	32,738
Enterprise Value Low	26,338	28,826	31,456	30,233	27,061	27,085	31,574	27,259	27,378	18,613	21,254	21,325	21,447	24,632	26,453

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	396	392	387	373	340	337	332	312	291	269	248	236	222	215	206
Diluted Weighted Avg Shares	405	396	390	383	363	338	338	320	303	280	260	243	228	221	209
Basic Weighted Avg Shares	396	395	389	373	340	338	337	319	303	280	260	243	227	221	209
Revenue per Share	35.66	35.61	37.6	38.41	39.47	38.78	40.8	44.02	48.65	48.75	52.86	57.86	68.92	78.17	86.98
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	2.68	1.44	1.53	1.58	0.76	1.94	3.46	1.99	3.08	-3.32	6.02	3.39	6.3	6.41	7.98
Basic EPS from Cont Ops	4.28	3.82	4.17	3.63	0.84	2.12	4.19	2.21	2.88	-4.61	6.49	3.67	6.79	6.77	8.48
Diluted EPS, GAAP	2.62	1.43	1.53	1.54	0.72	1.93	3.45	1.99	3.07	-3.32	6	3.38	6.29	6.41	7.97
Diluted EPS from Cont Ops	4.18	3.81	4.16	3.54	0.79	2.12	4.18	2.21	2.87	-4.61	6.48	3.66	6.78	6.77	8.47
Dividend per Share	0.25	0.25	0.25	0.25	0.26	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25	0.25
Cash Flow per Share	10.01	7.22	5.39	8.02	10.44	6.67	7.69	13.23	5.75	6.23	10.1	13.65	17.18	13.72	15.69
Free Cash Flow per Basic Share	6.64	3.67	0.92	0.64	5.86	2.38	4.63	10.11	2.31	3.69	8.25	10.93	14.16	10.85	12.92
Cash & Equivalents per Share	114	123.17	124.18	126.41	131.9	136.07	138.45	137.33	155.77	177.5	191.99	177.13	25.87	31.29	37.94
Book Value per Share	37.59	38.46	39.91	41.61	43.35	44.97	47.83	49.45	52.28	50.49	56.91	61.5	68.66	74.64	83.17
Tangible Book Value per Share	56.27	59.93	63.17	65.09	66.08	67.68	69.13	63.03	67.78	63.45	72.08	60.72	70.45	79.76	92.32

Loews Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)