Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Loews Corporation, a holding company with diversified operations, generated free cash flow that was a substantial portion of revenue. Cash conversion improved significantly from the same quarter a year earlier, though it weakened compared to the prior quarter.
- Revenue was higher than both the prior quarter and the year-ago quarter. Operating cash flow surpassed revenue, leading to a high free cash flow margin. Capital expenditure increased from the prior quarter but was lower than a year ago, resulting in free cash flow that was lower than the prior quarter but higher than the year-ago quarter.
- Compared to the immediately preceding quarter, free cash flow margin decreased, driven by a higher capital spending relative to operating cash flow. Compared to the same quarter one year earlier, all metrics improved: revenue, operating cash flow, and free cash flow were higher, and capital expenditure was lower.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$2.4B
Trailing twelve-month free cash flow.
Quarter free cash flow
$767.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$941.0M
Cash generated by operations before capital spending.
CapEx
$174.0M
Capital spending and related asset purchases.
FCF margin
97.2%
The share of revenue converted into free cash flow.
Cash flow trend
A short quarterly history shows whether FCF is scaling with revenue or only spiking for one period.
| Period | Revenue | Operating CF | CapEx | FCF | FCF margin |
|---|---|---|---|---|---|
| 2024-03-31 | $710.0M | $198.0M | $159.0M | $39.0M | 5.5% |
| 2024-06-30 | $711.0M | $952.0M | $159.0M | $793.0M | 111.5% |
| 2024-09-30 | $683.0M | $934.0M | $140.0M | $794.0M | 116.3% |
| 2024-12-31 | $789.0M | $941.0M | $174.0M | $767.0M | 97.2% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 410.2% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 22.1% | Lower capital intensity usually supports FCF margin. |
| Net cash | n/a | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Operating cash flow strength
Operating cash flow exceeded revenue this quarter, and was markedly higher than the same period last year, indicating strong cash generation.
This robust operating cash flow supported free cash flow even with higher capital spending.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was higher than both the prior quarter and the year-ago quarter. Operating cash flow surpassed revenue, leading to a high free cash flow margin. Capital expenditure increased from the prior quarter but was lower than a year ago, resulting in free cash flow that was lower than the prior quarter but higher than the year-ago quarter.
Compared to the immediately preceding quarter, free cash flow margin decreased, driven by a higher capital spending relative to operating cash flow. Compared to the same quarter one year earlier, all metrics improved: revenue, operating cash flow, and free cash flow were higher, and capital expenditure was lower.
Capital expenditure levels, as they increased from the prior quarter and may affect future free cash flow.