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Loews (L) Cyclically Adjusted Book per Share : $70.53 (As of Dec. 2023)


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What is Loews Cyclically Adjusted Book per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

Loews's adjusted book value per share for the three months ended in Dec. 2023 was $70.685. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $70.53 for the trailing ten years ended in Dec. 2023.

During the past 12 months, Loews's average Cyclically Adjusted Book Growth Rate was 3.40% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 6.30% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 5.90% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 6.10% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Loews was 10.40% per year. The lowest was 5.10% per year. And the median was 9.10% per year.

As of today (2024-04-27), Loews's current stock price is $75.46. Loews's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was $70.53. Loews's Cyclically Adjusted PB Ratio of today is 1.07.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Loews was 1.27. The lowest was 0.52. And the median was 0.92.


Loews Cyclically Adjusted Book per Share Historical Data

The historical data trend for Loews's Cyclically Adjusted Book per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Loews Cyclically Adjusted Book per Share Chart

Loews Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 56.88 58.74 64.16 68.19 70.53

Loews Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cyclically Adjusted Book per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 68.19 69.31 70.07 70.65 70.53

Competitive Comparison of Loews's Cyclically Adjusted Book per Share

For the Insurance - Property & Casualty subindustry, Loews's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Loews's Cyclically Adjusted PB Ratio Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Loews's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Loews's Cyclically Adjusted PB Ratio falls into.



Loews Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Loews's adjusted Book Value per Share data for the three months ended in Dec. 2023 was:

Adj_Book= Book Value per Share /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=70.685/129.4194*129.4194
=70.685

Current CPI (Dec. 2023) = 129.4194.

Loews Quarterly Data

Book Value per Share CPI Adj_Book
201403 50.885 99.695 66.057
201406 51.845 100.560 66.724
201409 52.013 100.428 67.028
201412 51.698 99.070 67.536
201503 51.984 99.621 67.533
201506 51.916 100.684 66.733
201509 52.520 100.392 67.706
201512 51.665 99.792 67.004
201603 52.603 100.470 67.760
201606 53.188 101.688 67.693
201609 54.220 101.861 68.889
201612 53.957 101.863 68.554
201703 54.909 102.862 69.086
201706 55.900 103.349 70.001
201709 56.504 104.136 70.223
201712 57.826 104.011 71.952
201803 57.482 105.290 70.656
201806 59.719 106.317 72.696
201809 60.176 106.507 73.122
201812 59.334 105.998 72.445
201903 62.313 107.251 75.193
201906 64.488 108.070 77.228
201909 64.901 108.329 77.536
201912 65.708 108.420 78.435
202003 60.285 108.902 71.643
202006 61.346 108.767 72.994
202009 63.162 109.815 74.438
202012 66.342 109.897 78.127
202103 65.451 111.754 75.797
202106 69.587 114.631 78.564
202109 70.210 115.734 78.512
202112 71.844 117.630 79.045
202203 67.304 121.301 71.809
202206 62.900 125.017 65.115
202209 58.140 125.227 60.087
202212 60.811 125.222 62.849
202303 63.410 127.348 64.442
202306 64.583 128.729 64.930
202309 64.427 129.860 64.209
202312 70.685 129.419 70.685

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


Loews  (NYSE:L) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Loews's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=75.46/70.53
=1.07

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Loews was 1.27. The lowest was 0.52. And the median was 0.92.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Loews Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of Loews's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Loews (L) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Loews Corp (NYSE:L) » Definitions » Cyclically Adjusted Book per Share
Traded in Other Exchanges
Address
667 Madison Avenue, New York, NY, USA, 10065-8087
Loews Corp is a holding company that is supported by a variety of businesses. Its largest subsidiary is CNA Financial Corporation, a property and casualty insurance company. CNA's services include risk management, information services, and warranty and claims administration. Loews also maintains an operation of offshore oil and gas drilling rigs through Diamond Offshore Drilling, Inc. The company engages in the transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas through Boardwalk Pipeline Partners, LP. Loews also operates a chain of hotels.
Executives
Andrew H Tisch director 667 MADISON AVE, NEW YORK NY 10021-8087
Jonathan M Tisch director, officer: Co-Ch. of Bd/Off. of the Pres. 667 MADISON AVENUE, NEW YORK NY 10021-8087
Ann E Berman director 255 STATE STREET, BOSTON MA 02109
Anthony Welters director
Paul J Fribourg director 667 MADISON AVE, NEW YORK NY 10021
Walter L Harris director TANENBAUM HARBER CO, 320 W 57TH STREET, NEW YORK NY 10019
Charles M Diker director ONE NEW YORK PLAZA, NEW YORK NY 10004
Joseph L Bower director 667 MADISON AVE, NEW YORK NY 10021
Kenneth I Siegel officer: Senior Vice President 667 MADISON AVENUE, NEW YORK NY 10065
Jonathan C Locker director C/O LOEWS CORPORATION, 9 WEST 57TH STREET, NEW YORK NY 10019
Charles D Davidson director QUANTUM ENERGY PARTNERS, 1401 MCKINNEY STREET, SUITE 2700, HOUSTON TX 77010
Richard Waldo Scott officer: SVP & Chief Investment Officer 667 MADISON AVENUE, NEW YORK NY 10065
Benjamin J Tisch officer: Sr. VP, Corp Dev and Strategy 667 MADISON AVE, NEW YORK NY 10065
Marc A Alpert officer: Sr. VP, Gen. Coun. & Secy. 667 MADISON AVENUE, NEW YORK NY 10065
Mark S Schwartz officer: V.P., C.A.O. and Treasurer C/O LOEWS CORPORATION, 667 MADISON AVENUE, NEW YORK NY 10065-8087

Loews (L) Headlines

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