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▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
In fiscal 2025, LOEWS CORP recorded $18.45B of revenue, net income of $1.67B, and an operating cash inflow of $3.28B. At $18.45B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 5.4% above fiscal 2024 revenue of $17.51B, marking a year-over-year increase. The company reported diluted EPS of $7.97, adding a shareholder-level measure to the absolute income figures considered below. The per-share result recorded a 24.3% increase from fiscal 2024 diluted EPS of $6.41. The diluted weighted-average share count was 209.10M, linking total earnings with the per-share result received by shareholders. Diluted shares moved 5.2% from 220.53M in fiscal 2024, leaving the current share base lower year over year. The company employed $86.35B of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.21x, showing the sales generated relative to the resources carried on the balance sheet.Profitability
Net income came to $1.67B, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 9.0% margin after operating costs and the remaining recognized items. Pretax income was $2.28B, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 12.4%, relating income before taxes directly to revenue. The reported income-tax provision was $511.00M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 22.4%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end equity was 8.5%, relating annual net income to the equity capital on the balance sheet. Net income represented 1.9% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Against $1.41B in fiscal 2024, the current $1.67B bottom line finished above the prior-year result in absolute terms.Liquidity and Capital Structure
At period end, the $86.35B asset base was financed through $66.71B of liabilities and $19.64B of equity. The company held $495.00M in cash and equivalents, a narrower liquidity measure than total current assets. Book equity represented 22.7% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 77.3% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 0.6% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $81.94B in fiscal 2024, the current asset base moved 5.4% and finished higher. Reported equity changed 9.5% from $17.94B in fiscal 2024, placing the current capital base higher year over year. Compared with $541.00M in fiscal 2024, the current cash balance moved 8.5% and finished lower.Cash Flow and Earnings Quality
Cash flow from operations was $3.28B, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 1.97x, showing the relationship between accrual earnings and operating cash. Capital spending was $579.00M, absorbing part of the cash generated from operations before free cash flow. Capital expenditures represented 17.7% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $2.70B, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 14.6% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 3.1%, comparing post-investment cash with the balance-sheet asset base. Compared with $3.02B in fiscal 2024, current operating cash flow of $3.28B was above the prior result.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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