Allstate Corp (ALL) is undervalued and Loews Corp (L) is slightly undervalued.
Against our estimates of intrinsic value, ALL trades at the wider discount: a margin of safety of +55%, against +6% for L.
Values as of the 22 Sept 2026 close.
Book value at 2.50x, the multiple a 46.1% return on equity justifies, blended with earnings, values the shares at $506.48; the price of $229.50 is 55% below that value.
Leak Score 90/100 on 9 of 12 signals
Book value at 1.18x, the multiple a 9.2% return on equity justifies, blended with earnings, values the shares at $112.52; the price of $105.91 is 6% below that value.
Leak Score 62/100 on 9 of 12 signals
| Metric | ALL | L |
|---|---|---|
| Verdict | Undervalued | Slightly undervalued |
| Price | $229.50 | $105.91 |
| Intrinsic value | $506.48 | $112.52 |
| Margin of safety | +55% | +6% |
| Leak Score | 90/100 (9/12) | 62/100 (9/12) |
| Market cap | $58.0B | $21.7B |
| Revenue growth, 5 years | 10.1% | 6.0% |
| Operating margin | 23.8% | 14.0% |
| Net margin | 18.8% | 9.0% |
| Return on equity | 46.1% | 9.2% |
| Debt to equity | 0.22 | 0.47 |
| P/E | 4.6x | 13.0x |
| Forward P/E | 8.3x | — |
| P/B | 1.8x | 1.1x |
| Dividend yield | 1.9% | 0.2% |