What is Loews's earnings per share (EPS)?

Loews (L) reported diluted earnings per share of $7.97 for fiscal year 2025. This represents a 24.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Loews Financials

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Loews (L) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 57/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Loews's revenue grew 5.4% year-over-year to $18.5B, a solid pace of expansion. This earns a growth score of 42/100.

Leverage

Loews carries a low D/E ratio of 0.45, meaning only $0.45 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

Loews has a free cash flow margin of 14.6%, earning a moderate score of 62/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Loews's ROE of 8.9% shows moderate profitability relative to equity, earning a score of 31/100. This is up from 8.3% the prior year.

Piotroski F-Score Strong

7/9

Loews passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.97x

For every $1 of reported earnings, Loews generates $1.97 in operating cash flow ($3.3B OCF vs $1.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$18.5B

YoY+5.4%

5Y CAGR+8.0%

10Y CAGR+3.2%

Loews generated $18.5B in revenue in fiscal year 2025. This represents an increase of 5.4% from the prior year.

EBITDA

N/A

Net Income

$1.7B

YoY+17.9%

10Y CAGR+20.4%

Loews reported $1.7B in net income in fiscal year 2025. This represents an increase of 17.9% from the prior year.

EPS (Diluted)

$7.97

YoY+24.3%

10Y CAGR+27.2%

Loews earned $7.97 per diluted share (EPS) in fiscal year 2025. This represents an increase of 24.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$2.7B

YoY+12.8%

5Y CAGR+21.1%

10Y CAGR+3.1%

Loews generated $2.7B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 12.8% from the prior year.

Cash & Debt

$495.0M

YoY-8.5%

5Y CAGR+0.7%

10Y CAGR+1.2%

Loews held $495.0M in cash against $8.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.25

YoY+0.0%

5Y CAGR+0.0%

10Y CAGR+0.0%

Loews paid $0.25 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

206M

YoY-3.2%

5Y CAGR-5.1%

10Y CAGR-4.9%

Loews had 206M shares outstanding in fiscal year 2025. This represents a decrease of 3.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

9.0%

YoY+1.0pp

5Y CAGR+16.4pp

10Y CAGR+7.1pp

Loews's net profit margin was 9.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.0 percentage points from the prior year.

Return on Equity

8.9%

YoY+0.6pp

5Y CAGR+14.1pp

10Y CAGR+7.4pp

Loews's ROE was 8.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$806.0M

YoY+32.6%

5Y CAGR-2.7%

10Y CAGR-4.4%

Loews spent $806.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 32.6% from the prior year.

Capital Expenditures

$579.0M

YoY-8.4%

5Y CAGR-4.0%

10Y CAGR-9.4%

Loews invested $579.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 8.4% from the prior year.

L Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$18.5B+5.4%	$17.5B+10.1%	$15.9B+13.2%	$14.0B-4.2%	$14.7B+16.5%	$12.6B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$437.0M-0.9%	$441.0M+17.3%	$376.0M-0.5%	$378.0M-10.8%	$424.0M-17.7%	$515.0M
Income Tax	$511.0M+34.5%	$380.0M-15.7%	$451.0M+102.2%	$223.0M-53.1%	$475.0M+374.6%	-$173.0M
Net Income	$1.7B+17.9%	$1.4B-1.4%	$1.4B+74.5%	$822.0M-47.4%	$1.6B+267.8%	-$931.0M
EPS (Diluted)	$7.97+24.3%	$6.41+1.9%	$6.29+86.1%	$3.38-43.7%	$6.00+280.7%	$-3.32

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$4.7B+1.3%	$4.7B+2.5%	$4.6B+1.4%	$4.5B-1.1%	$4.5B+1.8%	$4.5B+4.7%	$4.3B+0.9%	$4.2B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$113.0M+0.9%	$112.0M+4.7%	$107.0M+1.9%	$105.0M-4.5%	$110.0M-3.5%	$114.0M0.0%	$114.0M+10.7%	$103.0M
Income Tax	$113.0M-26.1%	$153.0M+24.4%	$123.0M+0.8%	$122.0M+12300.0%	-$1.0M-100.8%	$125.0M+11.6%	$112.0M-22.2%	$144.0M
Net Income	$402.0M-20.2%	$504.0M+28.9%	$391.0M+5.7%	$370.0M+97.9%	$187.0M-53.4%	$401.0M+8.7%	$369.0M-19.3%	$457.0M
EPS (Diluted)	N/A	$2.43+29.9%	$1.87+7.5%	$1.74	N/A	$1.82+9.0%	$1.67-18.5%	$2.05

L Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$86.3B+5.4%	$81.9B+3.5%	$79.2B+4.8%	$75.6B-7.4%	$81.6B+1.7%	$80.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$495.0M-8.5%	$541.0M+35.6%	$399.0M-25.0%	$532.0M-14.3%	$621.0M+29.9%	$478.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$11.0B+4.4%	$10.5B+8.9%	$9.7B+2.7%	$9.4B+1.4%	$9.3B+18.4%	$7.8B
Goodwill	$349.0M+0.6%	$347.0M0.0%	$347.0M+0.3%	$346.0M-0.9%	$349.0M-55.5%	$785.0M
Total Liabilities	$66.7B+4.2%	$64.0B+2.1%	$62.7B+3.8%	$60.4B-3.3%	$62.5B+2.3%	$61.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$8.4B-5.6%	$8.9B+12.9%	$7.9B-3.0%	$8.2B-9.1%	$9.0B-10.8%	$10.1B
Total Equity	$18.7B+9.5%	$17.1B+8.7%	$15.7B+9.4%	$14.3B-19.6%	$17.8B-0.1%	$17.9B
Retained Earnings	$17.4B+5.6%	$16.5B+5.4%	$15.6B+4.6%	$14.9B+1.0%	$14.8B+4.4%	$14.2B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$86.3B+0.5%	$85.9B+1.5%	$84.7B+1.8%	$83.1B+1.5%	$81.9B-2.0%	$83.6B+3.2%	$81.1B+0.2%	$80.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$495.0M-12.7%	$567.0M+26.8%	$447.0M-20.2%	$560.0M+3.5%	$541.0M-1.3%	$548.0M+16.6%	$470.0M-15.5%	$556.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$11.0B+0.4%	$10.9B-3.7%	$11.4B+5.3%	$10.8B+2.5%	$10.5B+3.8%	$10.1B-1.4%	$10.3B+5.4%	$9.8B
Goodwill	$349.0M0.0%	$349.0M0.0%	$349.0M+0.6%	$347.0M0.0%	$347.0M-0.6%	$349.0M+0.6%	$347.0M0.0%	$347.0M
Total Liabilities	$66.7B0.0%	$66.7B+0.7%	$66.3B+1.8%	$65.1B+1.7%	$64.0B-2.1%	$65.4B+2.4%	$63.9B-0.1%	$63.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$8.4B0.0%	$8.4B+6.2%	$7.9B-5.9%	$8.4B-5.6%	$8.9B+1.3%	$8.8B+3.1%	$8.6B+1.6%	$8.4B
Total Equity	$18.7B+2.2%	$18.3B+4.4%	$17.5B+1.9%	$17.2B+0.7%	$17.1B-1.7%	$17.4B+5.9%	$16.4B+1.2%	$16.2B
Retained Earnings	$17.4B-1.8%	$17.7B+2.9%	$17.2B+2.2%	$16.8B+2.2%	$16.5B-2.0%	$16.8B+2.4%	$16.4B+2.2%	$16.1B

L Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$3.3B+8.4%	$3.0B-22.6%	$3.9B+17.9%	$3.3B+26.3%	$2.6B+50.3%	$1.7B
Capital Expenditures	$579.0M-8.4%	$632.0M-7.9%	$686.0M+3.9%	$660.0M+36.9%	$482.0M-32.1%	$710.0M
Free Cash Flow	$2.7B+12.8%	$2.4B-25.7%	$3.2B+21.4%	$2.7B+24.0%	$2.1B+106.9%	$1.0B
Investing Cash Flow	-$2.8B-43.2%	-$2.0B+28.1%	-$2.7B-17.0%	-$2.3B-97.7%	-$1.2B+16.1%	-$1.4B
Financing Cash Flow	-$513.0M+42.9%	-$898.0M+30.9%	-$1.3B-25.4%	-$1.0B+19.6%	-$1.3B-551.0%	-$198.0M
Dividends Paid	$52.0M-5.5%	$55.0M-3.5%	$57.0M-6.6%	$61.0M-6.2%	$65.0M-7.1%	$70.0M
Share Buybacks	$806.0M+32.6%	$608.0M-28.4%	$849.0M+16.5%	$729.0M-35.8%	$1.1B+23.1%	$923.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$617.0M-32.9%	$920.0M-8.5%	$1.0B+36.7%	$736.0M-21.8%	$941.0M+0.7%	$934.0M-1.9%	$952.0M+380.8%	$198.0M
Capital Expenditures	$191.0M+22.4%	$156.0M+16.4%	$134.0M+36.7%	$98.0M-43.7%	$174.0M+24.3%	$140.0M-11.9%	$159.0M0.0%	$159.0M
Free Cash Flow	$426.0M-44.2%	$764.0M-12.4%	$872.0M+36.7%	$638.0M-16.8%	$767.0M-3.4%	$794.0M+0.1%	$793.0M+1933.3%	$39.0M
Investing Cash Flow	-$611.0M+49.3%	-$1.2B-48.8%	-$809.0M-296.6%	-$204.0M-597.6%	$41.0M+105.5%	-$740.0M-196.0%	-$250.0M+75.6%	-$1.0B
Financing Cash Flow	-$79.0M-119.4%	$408.0M+226.7%	-$322.0M+38.1%	-$520.0M+46.7%	-$976.0M-700.0%	-$122.0M+84.5%	-$787.0M-179.7%	$987.0M
Dividends Paid	$13.0M0.0%	$13.0M0.0%	$13.0M0.0%	$13.0M0.0%	$13.0M-7.1%	$14.0M0.0%	$14.0M0.0%	$14.0M
Share Buybacks	$100.0M+81.8%	$55.0M-78.6%	$257.0M-34.8%	$394.0M+13.9%	$346.0M+486.4%	$59.0M-67.0%	$179.0M+645.8%	$24.0M

L Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	9.0%+1.0pp	8.1%-0.9pp	9.0%+3.2pp	5.9%-4.8pp	10.7%+18.1pp	-7.4%
Return on Equity	8.9%+0.6pp	8.3%-0.8pp	9.1%+3.4pp	5.7%-3.0pp	8.8%+14.0pp	-5.2%
Return on Assets	1.9%+0.2pp	1.7%-0.1pp	1.8%+0.7pp	1.1%-0.8pp	1.9%+3.1pp	-1.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.45-0.1	0.52+0.0	0.50-0.1	0.57+0.1	0.50-0.1	0.56
FCF Margin	14.6%+1.0pp	13.7%-6.6pp	20.3%+1.4pp	18.9%+4.3pp	14.6%+6.4pp	8.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	8.5%-2.3pp	10.8%+2.2pp	8.6%+0.4pp	8.2%+4.1pp	4.1%-4.9pp	9.0%+0.3pp	8.6%-2.2pp	10.8%
Return on Equity	2.1%-0.6pp	2.8%+0.5pp	2.2%+0.1pp	2.1%+1.0pp	1.1%-1.2pp	2.3%+0.1pp	2.3%-0.6pp	2.8%
Return on Assets	0.5%-0.1pp	0.6%+0.1pp	0.5%+0.0pp	0.4%+0.2pp	0.2%-0.2pp	0.5%+0.0pp	0.5%-0.1pp	0.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.450.0	0.460.0	0.45-0.0	0.49-0.0	0.52+0.0	0.51-0.0	0.520.0	0.52
FCF Margin	9.0%-7.4pp	16.4%-2.8pp	19.1%+4.9pp	14.2%-2.7pp	16.9%-0.9pp	17.8%-0.8pp	18.6%+17.7pp	0.9%

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Frequently Asked Questions

What is Loews's annual revenue?

Loews (L) reported $18.5B in total revenue for fiscal year 2025. This represents a 5.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Loews's revenue growing?

Loews (L) revenue grew by 5.4% year-over-year, from $17.5B to $18.5B in fiscal year 2025.

Is Loews profitable?

Yes, Loews (L) reported a net income of $1.7B in fiscal year 2025, with a net profit margin of 9.0%.

How much debt does Loews have?

As of fiscal year 2025, Loews (L) had $495.0M in cash and equivalents against $8.4B in long-term debt.

What is Loews's net profit margin?

Loews (L) had a net profit margin of 9.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Loews pay dividends?

Yes, Loews (L) paid $0.25 per share in dividends during fiscal year 2025.

What is Loews's return on equity (ROE)?

Loews (L) has a return on equity of 8.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Loews's free cash flow?

Loews (L) generated $2.7B in free cash flow during fiscal year 2025. This represents a 12.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Loews's operating cash flow?

Loews (L) generated $3.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Loews's total assets?

Loews (L) had $86.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Loews's capital expenditures?

Loews (L) invested $579.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Loews buy back shares?

Yes, Loews (L) spent $806.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Loews have outstanding?

Loews (L) had 206M shares outstanding as of fiscal year 2025.

What is Loews's debt-to-equity ratio?

Loews (L) had a debt-to-equity ratio of 0.45 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Loews's return on assets (ROA)?

Loews (L) had a return on assets of 1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Loews's Piotroski F-Score?

Loews (L) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Loews's earnings high quality?

Loews (L) has an earnings quality ratio of 1.97x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Loews?

Loews (L) scores 57 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.