Loews Corp. (L) intrinsic value & 10-year financials
Loews Corp. (L) has a Graham intrinsic value of $168.46 per share. At $110.52 on Oct 17, 2026, the stock trades 34% below that value. Over the last 10 fiscal years revenue shrank 1.3% a year to $3.2B, with an average return on invested capital of 3.6%.
- Graham intrinsic value
- $168.46
- Share price (Oct 17, 2026)
- $110.52
- Price vs Graham value
- 34% below
- Market cap
- $23.1B
- Revenue (FY2025)
- $3.2B
- Revenue growth (10-yr CAGR)
- -1.3%
- ROIC (10-yr avg)
- 3.6%
- Free cash flow (FY2025)
- $2.7B
L 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.2B | $1.7B | $7.97 | $2.7B | — | 6.3% |
| FY2024 | $2.9B | $1.4B | $6.41 | $2.4B | — | 5.7% |
| FY2023 | $2.4B | $1.4B | $6.29 | $3.2B | — | 6.1% |
| FY2022 | $2.1B | $1.0B | $4.16 | $2.7B | — | 4.1% |
| FY2021 | $2.0B | $1.6B | $6.07 | $2.1B | — | 5.9% |
| FY2020 | $2.8B | -$931.0M | -$3.32 | $1.0B | — | -3.2% |
| FY2019 | $3.9B | $932.0M | $3.07 | $700.0M | — | 3.1% |
| FY2018 | $3.9B | $636.0M | $1.99 | $3.2B | — | 2.1% |
| FY2017 | $4.0B | $1.2B | $3.45 | $1.6B | — | 4.0% |
| FY2016 | $3.6B | $654.0M | $1.93 | $803.0M | — | 2.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Loews Corporation is facing top-line stagnation, with revenue contracting over the decade.
Loews Corporation has historically struggled to out-earn its cost of capital, averaging just 3.6% ROIC.
Over the decade, Loews Corporation shows that management has aggressively returned capital to shareholders by retiring 38.2% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Loews Corporation is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $168.46 per share.