Loews (L) FY2021 results: revenue $14.7 billion, up 16.5% on the year
Loews Corp. (L) reported revenue of $14.7 billion for fiscal 2021, the year ended 31 December 2021, up 16.5% on the year before. Net income was $1.6 billion, and diluted earnings per share $6.00. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2022.
Revenue
$14.7 billion
+16.5% on the year
FY2014FY2021
Operating margin
14.9%
-11.6% a year earlier
FY2014FY2021
Net income
$1.6 billion
FY2014FY2021
Diluted EPS
$6.00
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,623
1,745
1,741
+50.3%
Capital expenditure
482
710
1,041
-32.1%
Free cash flow
2,141
1,035
700
+106.9%
Free cash flow margin
14.6%
8.2%
4.7%
Cash from investing
-1,187
-1,414
-671
Cash from financing
-1,289
-198
-1,144
Depreciation and amortisation
503
673
898
-25.3%
Share-based compensation
33.0
37.0
37.0
-10.8%
Buybacks
1,136
923
1,051
+23.1%
Dividends paid
65.0
70.0
76.0
-7.1%
Dividend per share
$0.25
$0.25
$0.25
0.0%
Diluted shares, weighted
260m
280m
303m
-7.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
17,846
17,860
19,119
-0.1%
Non-controlling interest
1,329
1,321
2,811
+0.6%
Short-term borrowings
n/a
37.0
77.0
Debt
8,986
10,072
11,456
-10.8%
Other liabilities
53,465
50,946
48,780
+4.9%
Total liabilities and equity
81,626
80,236
82,243
+1.7%
Fixed assets
9,888
10,451
15,568
-5.4%
Goodwill
349
785
767
-55.5%
Investments
4,860
4,674
4,628
+4.0%
Cash and equivalents
621
478
336
+29.9%
Other assets
65,908
63,848
60,944
+3.2%
Total assets
81,626
80,236
82,243
+1.7%
10-K for the year ended 31 December 2021, filed 8 February 2022: the filing.