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30.6 (1y: +50%)
Market Cap 11.4 B P/E(ttm) 12.20
Enterprise Value P/B 1.10
LUK- NYSE (USA)
Leucadia National Corporation
  • Currently 1/5
Business Predictability Rank: 1-Star (On Watch)
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$30.60
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry		 vs
history
Cash to Debt 1.338
LUK's Cash to Debt is ranked lower than
349650% of the 286 Companies
in the Global Conglomerates industry.

( Industry Median: 1.33 vs. LUK: 1.338 )
LUK' s 10-Year Cash to Debt Range
Min: 0.12   Max: 1.47
Current: 1.34
0.12
1.47
Equity to Asset 0.632
LUK's Equity to Asset is ranked lower than
361010% of the 277 Companies
in the Global Conglomerates industry.

( Industry Median: 0.52 vs. LUK: 0.632 )
LUK' s 10-Year Equity to Asset Range
Min: 0.37   Max: 0.74
Current: 0.63
0.37
0.74
Interest Coverage 10.4
LUK's Interest Coverage is ranked lower than
478468% of the 209 Companies
in the Global Conglomerates industry.

( Industry Median: 38.00 vs. LUK: 10.4 )
LUK' s 10-Year Interest Coverage Range
Min: 1   Max: 10
Current: 10.4
1
10
F-Score: 4
Z-Score: 0.51
M-Score: 4.69
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry		 vs
history
Operating margin (%) 10.50
LUK's Operating margin (%) is ranked lower than
460829% of the 217 Companies
in the Global Conglomerates industry.

( Industry Median: 8.10 vs. LUK: 10.50 )
LUK' s 10-Year Operating margin (%) Range
Min: -44.1   Max: 43.4
Current: 10.5
-44.1
43.4
Net-margin (%) 9.3
LUK's Net-margin (%) is ranked lower than
473933% of the 211 Companies
in the Global Conglomerates industry.

( Industry Median: 6.10 vs. LUK: 9.3 )
LUK' s 10-Year Net-margin (%) Range
Min: -234.6   Max: 239.7
Current: 9.3
-234.6
239.7
ROE (%) 12.6
LUK's ROE (%) is ranked lower than
476190% of the 210 Companies
in the Global Conglomerates industry.

( Industry Median: 7.20 vs. LUK: 12.6 )
LUK' s 10-Year ROE (%) Range
Min: -94.7   Max: 44.7
Current: 12.6
-94.7
44.7
ROA (%) 9.1
LUK's ROA (%) is ranked lower than
473933% of the 211 Companies
in the Global Conglomerates industry.

( Industry Median: 3.30 vs. LUK: 9.1 )
LUK' s 10-Year ROA (%) Range
Min: -48.8   Max: 31.1
Current: 9.1
-48.8
31.1
ROC (Joel Greenblatt) (%) 134.20
LUK's ROC (Joel Greenblatt) (%) is ranked lower than
546448% of the 183 Companies
in the Global Conglomerates industry.

( Industry Median: 17.00 vs. LUK: 134.20 )
LUK' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -75.9   Max: 360.9
Current: 134.2
-75.9
360.9
Revenue Growth (%) 69.2
LUK's Revenue Growth (%) is ranked lower than
1030927% of the 97 Companies
in the Global Conglomerates industry.

( Industry Median: 11.60 vs. LUK: 69.2 )
LUK' s 10-Year Revenue Growth (%) Range
Min: -18.9   Max: 69.2
Current: 69.2
-18.9
69.2
EPS Growth (%) 11.2
LUK's EPS Growth (%) is ranked lower than
1449274% of the 69 Companies
in the Global Conglomerates industry.

( Industry Median: 17.70 vs. LUK: 11.2 )
LUK' s 10-Year EPS Growth (%) Range
Min: -6.9   Max: 65.1
Current: 11.2
-6.9
65.1
» LUK's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

LUK Guru Trades in Q2 2012

Bruce Kovner 65,000 sh (New)
Paul Tudor Jones 16,100 sh (New)
Mason Hawkins 4,888,823 sh (New)
Chuck Akre 1,600,000 sh (+164.81%)
Third Avenue Management 4,012,806 sh (+23.26%)
Tweedy Browne 621,507 sh (+15.3%)
Tom Gayner 670,766 sh (+2.29%)
Chuck Royce 733,800 sh (unchged)
Ruane Cunniff 16,471 sh (unchged)
Tom Russo 36,750 sh (unchged)
Donald Yacktman 14,950 sh (unchged)
Jean-Marie Eveillard 20,000 sh (unchged)
Columbia Wanger 3,249,500 sh (unchged)
Fairholme Fund 12,186,350 sh (unchged)
Bruce Berkowitz 18,174,228 sh (-0.04%)
John Keeley 109,324 sh (-1.16%)
Murray Stahl 9,030,747 sh (-8.04%)
Steven Cohen 42,584 sh (-49.96%)
Jeremy Grantham 39,800 sh (-61.05%)
Jim Simons 100,500 sh (-76.92%)
» More
Q3 2012

LUK Guru Trades in Q3 2012

Jim Simons 198,600 sh (+97.61%)
Third Avenue Management 5,152,838 sh (+28.41%)
Chuck Akre 1,700,000 sh (+6.25%)
Bruce Berkowitz 18,240,088 sh (+0.36%)
Mason Hawkins 4,888,823 sh (unchged)
Ruane Cunniff 16,471 sh (unchged)
Columbia Wanger 3,249,500 sh (unchged)
Jeremy Grantham 39,800 sh (unchged)
Jean-Marie Eveillard 20,000 sh (unchged)
Donald Yacktman 14,950 sh (unchged)
Fairholme Fund 12,186,350 sh (unchged)
Paul Tudor Jones Sold Out
Steven Cohen Sold Out
Bruce Kovner Sold Out
Tom Gayner 670,533 sh (-0.03%)
Tweedy Browne 619,467 sh (-0.33%)
Murray Stahl 8,834,897 sh (-2.17%)
Tom Russo 35,750 sh (-2.72%)
John Keeley 72,914 sh (-33.3%)
Chuck Royce 462,450 sh (-36.98%)
» More
Q4 2012

LUK Guru Trades in Q4 2012

Zeke Ashton 107,500 sh (New)
Whitney Tilson 67,500 sh (New)
Jim Simons 1,465,944 sh (+638.14%)
Chuck Royce 523,950 sh (+13.3%)
Tweedy Browne 696,222 sh (+12.39%)
Tom Gayner 745,033 sh (+11.11%)
Chuck Akre 1,800,000 sh (+5.88%)
Third Avenue Management 5,357,835 sh (+3.98%)
Fairholme Fund 12,229,050 sh (+0.35%)
Ruane Cunniff 16,471 sh (unchged)
Donald Yacktman 14,950 sh (unchged)
Columbia Wanger 3,249,500 sh (unchged)
Jeremy Grantham 48,100 sh (unchged)
John Keeley Sold Out
Jean-Marie Eveillard Sold Out
Mason Hawkins Sold Out
Murray Stahl 8,792,759 sh (-0.48%)
Bruce Berkowitz 17,924,656 sh (-1.73%)
Tom Russo 23,050 sh (-35.52%)
» More
Q1 2013

LUK Guru Trades in Q1 2013

Ron Baron 724,613 sh (New)
Jean-Marie Eveillard 20,000 sh (New)
Paul Tudor Jones 16,300 sh (New)
Tweedy Browne 1,007,168 sh (+44.66%)
Jim Simons 1,802,789 sh (+22.98%)
Jeremy Grantham 54,800 sh (+13.93%)
Murray Stahl 9,918,216 sh (+12.8%)
Chuck Akre 2,000,000 sh (+11.11%)
Third Avenue Management 5,915,248 sh (+10.4%)
Bruce Berkowitz 18,770,478 sh (+4.72%)
Chuck Royce 542,451 sh (+3.53%)
Ruane Cunniff 16,471 sh (unchged)
Tom Gayner 745,033 sh (unchged)
Columbia Wanger 3,249,500 sh (unchged)
Fairholme Fund 12,229,050 sh (unchged)
Donald Yacktman Sold Out
Whitney Tilson Sold Out
Zeke Ashton Sold Out
Tom Russo 19,100 sh (-17.14%)
» More
» Details

Insider Trades

Latest Guru Trades with LUK

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Chuck Akre 2013-03-31 Add 11.11%0.31%$23.145 - $27.43 $ 30.5820%2000000
Bruce Berkowitz 2013-03-31 Add 4.72%0.3%$23.145 - $27.43 $ 30.5820%18770478
Tweedy Browne 2013-03-31 Add 44.66%0.22%$23.145 - $27.43 $ 30.5820%1007168
Ron Baron 2013-03-31 New Buy0.11%$23.145 - $27.43 $ 30.5820%724613
Donald Yacktman 2013-03-31 Sold Out $23.145 - $27.43 $ 30.5820%0
Jean-Marie Eveillard 2013-03-31 New Buy$23.145 - $27.43 $ 30.5820%20000
Mason Hawkins 2012-12-31 Sold Out 0.49%$20.48 - $24.26 $ 30.5836%0
Chuck Akre 2012-12-31 Add 5.88%0.17%$20.48 - $24.26 $ 30.5836%1800000
John Keeley 2012-12-31 Sold Out 0.04%$20.48 - $24.26 $ 30.5836%0
Jean-Marie Eveillard 2012-12-31 Sold Out 0.0017%$20.48 - $24.26 $ 30.5836%0
Chuck Akre 2012-09-30 Add 6.25%0.18%$20.56 - $23.92 $ 30.5839%1700000
John Keeley 2012-09-30 Reduce -33.3%0.02%$20.56 - $23.92 $ 30.5839%72914
Chuck Akre 2012-06-30 Add 164.81%1.74%$19.91 - $26.07 $ 30.5835%1600000
Mason Hawkins 2012-06-30 New Buy0.44%$19.91 - $26.07 $ 30.5835%4888823
Premium More recent guru trades are included for Premium Members only!!

Guru Investment Theses on Leucadia National Corporation

Horizon Kinetics Comments on Leucadia National - Oct 18, 2012

From the third quarter commentary of Murray Stahl's Horizon Kinetics:

Leucadia National (LUK), under the management of Ian Cumming and Joseph Steinberg, who collectively own 19% of the shares, has one of the best records of value creation among publicly traded U.S. companies. Over the course of the 32 years from 1979 through 2011, the Leucadia book value per share, inclusive of a special dividend paid out some years ago, has expanded by 18.5% per year, and the share price by 19.8% per year. As a basis for comparison, the total return on the S&P 500 during the period was 7.6% per year. That is the difference between $1,000 becoming $299,000 or $10,400. This is an almost unmatched record. We believe Leucadia is a well diversified, well capitalized, profitable company with the same management in place that created this history. The shares, should you want them, trade below book value, which is to say below accounting liquidation value, which as of the most recent financial statement was $24.92. A low valuation is one of the better predictive attributes and is particularly compelling when combined, as in the case of Leucadia National, with proven owner-operators.
Check out Murray Stahl latest stock trades

Top Ranked Articles about Leucadia National Corporation

Horizon Kinetics Comments on Leucadia National
October 18, 2012
From the third quarter commentary of Murray Stahl's Horizon Kinetics: Read more...

Ratios

vs
industry		 vs
history
P/E(ttm) 12.20
LUK's P/E(ttm) is ranked lower than
469483% of the 213 Companies
in the Global Conglomerates industry.

( Industry Median: 15.40 vs. LUK: 12.20 )
LUK' s 10-Year P/E(ttm) Range
Min: 2.88   Max: 331
Current: 12.2
2.88
331
P/B 1.10
LUK's P/B is ranked lower than
348432% of the 287 Companies
in the Global Conglomerates industry.

( Industry Median: 0.94 vs. LUK: 1.10 )
LUK' s 10-Year P/B Range
Min: 0.59   Max: 2.39
Current: 1.1
0.59
2.39
P/S 0.90
LUK's P/S is ranked lower than
331125% of the 302 Companies
in the Global Conglomerates industry.

( Industry Median: 1.05 vs. LUK: 0.90 )
LUK' s 10-Year P/S Range
Min: 0.6   Max: 17.81
Current: 0.9
0.6
17.81
PFCF 179.50
LUK's PFCF is ranked lower than
574712% of the 174 Companies
in the Global Conglomerates industry.

( Industry Median: 14.80 vs. LUK: 179.50 )
LUK' s 10-Year PFCF Range
Min: 14.38   Max: 312.99
Current: 179.5
14.38
312.99
EV-to-EBIT 7.4
LUK's EV-to-EBIT is ranked lower than
462963% of the 216 Companies
in the Global Conglomerates industry.

( Industry Median: 14.82 vs. LUK: 7.4 )
LUK' s 10-Year EV-to-EBIT Range
Min: 5.4   Max: 221
Current: 7.4
5.4
221
Shiller P/E 34.5
LUK's Shiller P/E is ranked lower than
100% of the Companies
in the Global Conglomerates industry.

( Industry Median: vs. LUK: 34.5 )
LUK' s 10-Year Shiller P/E Range
Min: 6.05   Max: 408.93
Current: 34.5
6.05
408.93

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 1.00
LUK's Dividend Yield is ranked lower than
512820% of the 195 Companies
in the Global Conglomerates industry.

( Industry Median: 1.99 vs. LUK: 1.00 )
LUK' s 10-Year Dividend Yield Range
Min: 0.4   Max: 7.67
Current: 1
0.4
7.67
Dividend Payout 0.1194
LUK's Dividend Payout is ranked lower than
806451% of the 124 Companies
in the Global Conglomerates industry.

( Industry Median: 0.40 vs. LUK: 0.1194 )
LUK' s 10-Year Dividend Payout Range
Min: 0.02   Max: 2.42
Current: 0.12
0.02
2.42
Yield on cost (5-Year) 1.00
LUK's Yield on cost (5-Year) is ranked lower than
510204% of the 196 Companies
in the Global Conglomerates industry.

( Industry Median: 1.90 vs. LUK: 1.00 )
LUK' s 10-Year Yield on cost (5-Year) Range
Min: 0.4   Max: 7.67
Current: 1
0.4
7.67
Share Buyback Rate -0.1
LUK's Share Buyback Rate is ranked lower than
2777775% of the 36 Companies
in the Global Conglomerates industry.

( Industry Median: 1.10 vs. LUK: -0.1 )
LUK' s 10-Year Share Buyback Rate Range
Min: 1.4   Max: -8
Current: -0.1

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 19.5
LUK's Price/Net Current Asset Value is ranked lower than
469483% of the 213 Companies
in the Global Conglomerates industry.

( Industry Median: 7.00 vs. LUK: 19.5 )
LUK' s 10-Year Price/Net Current Asset Value Range
Min: 12.2   Max: 377.5
Current: 19.5
12.2
377.5
Price/Tangible Book 1.3
LUK's Price/Tangible Book is ranked lower than
367647% of the 272 Companies
in the Global Conglomerates industry.

( Industry Median: 1.00 vs. LUK: 1.3 )
LUK' s 10-Year Price/Tangible Book Range
Min: 1   Max: 2.2
Current: 1.3
1
2.2
Price/DCF (Projected) 1.1
LUK's Price/DCF (Projected) is ranked lower than
1190475% of the 84 Companies
in the Global Conglomerates industry.

( Industry Median: 1.10 vs. LUK: 1.1 )
LUK' s 10-Year Price/DCF (Projected) Range
Min: 1.1   Max: 6.8
Current: 1.1
1.1
6.8
Price/Median PS Value 0.2
LUK's Price/Median PS Value is ranked lower than
389105% of the 257 Companies
in the Global Conglomerates industry.

( Industry Median: 1.20 vs. LUK: 0.2 )
LUK' s 10-Year Price/Median PS Value Range
Min: 0.1   Max: 2.6
Current: 0.2
0.1
2.6
Price/Graham Number 0.7
LUK's Price/Graham Number is ranked lower than
480769% of the 208 Companies
in the Global Conglomerates industry.

( Industry Median: 0.90 vs. LUK: 0.7 )
LUK' s 10-Year Price/Graham Number Range
Min: 0.4   Max: 3.8
Current: 0.7
0.4
3.8
Earnings Yield (Greenblatt) 13.60
LUK's Earnings Yield (Greenblatt) is ranked lower than
462963% of the 216 Companies
in the Global Conglomerates industry.

( Industry Median: 6.70 vs. LUK: 13.60 )
LUK' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.5   Max: 18.7
Current: 13.6
0.5
18.7
Forward Rate of Return (Yacktman) -0.38
LUK's Forward Rate of Return (Yacktman) is ranked lower than
1219511% of the 82 Companies
in the Global Conglomerates industry.

( Industry Median: 14.34 vs. LUK: -0.38 )
LUK' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -4.8   Max: -0.4
Current: -0.38
-4.8
-0.4

Business Description

Leucadia National Corporation was a New York corporation organized in 1968. The Company is a diversified holding company engaged through its consolidated subsidiaries in a variety of businesses, including beef processing, manufacturing, land based contract oil and gas drilling, gaming entertainment, real estate activities, medical product development and winery operations. The Company also has significant investments in the common stock of Jefferies Group, Inc, a full service investment bank and Mueller Industries, Inc., a manufacturer of copper, brass, plastic, and aluminum products, both of which are accounted for at fair value. The Company owns equity interests in operating businesses which are accounted for under the equity method of accounting, including a broker-dealer engaged in making markets and trading of high yield and special situation securities, and a commercial mortgage origination and servicing business. The beef processing operations are conducted by National Beef Packing Company, LLC, the Company's 78.9% owned subsidiary, which was acquired on December 30, 2011. National Beef processes, packages and delivers fresh and frozen beef and beef by-products for sale to customers in the U.S. and international markets. National Beef's products include boxed beef, ground beef, hides, tallow, and other beef and beef by-products. The products are marketed to retailers, food service providers, distributors, further processors, and the U.S. military. The manufacturing operations are conducted through Idaho Timber, LLC and Conwed Plastics, LLC. Idaho Timber's principal product lines include remanufacturing dimension lumber; remanufacturing, bundling and bar coding of home center boards for large retailers; and production of 5/4" radius-edge, pine decking. Idaho Timber also manufactures and/or distributes a number of other specialty wood products. Conwed Plastics manufactures and markets lightweight plastic netting used for a variety of purposes including, among other things, building and construction, erosion control, packaging, agricultural, carpet padding, filtration and consumer products. Conwed Plastics manufacturing segment has four domestic manufacturing facilities, and it owns and operates a manufacturing and sales facility in Belgium. The Company's land based contract oil and gas drilling operations are conducted by Keen Energy Services, LLC. Keen is based in Stillwater, Oklahoma and provides drilling services to independent oil and natural gas exploration and production companies in the Mid-Continent Region of the U.S. The gaming entertainment business is conducted through Premier Entertainment Biloxi LLC. Premier owns the Hard Rock Hotel & Casino Biloxi located in Biloxi, Mississippi. The domestic real estate operations include a mixture of commercial properties, residential land development projects and other unimproved land. The Company's medical product development operations are conducted through its majority-own
Company Website
SEC Reports
Industry: Conglomerates
Compare:SI, JSHLY, MSBHY, SVNDY, MITSY
Traded in other countries:LN3.Germany
» More Articles for LUK

Headlines

Articles On GuruFocus.com
All-Weather Chuck Akre Unloads First Quarter May 17 2013 
Bruce Berkowitz Pulls Plug on CIT - Sold Out 16 Million Shares Apr 30 2013 
Profit from Economically-Sensitive Stocks: BEAM, L, LUK, TSX: AW.UN, TSX: LNR Apr 06 2013 
Guru Chuck Akre Buys Jefferies Group and TransDigm in Quarter Four Feb 13 2013 
Fairholme’s Bruce Berkowitz Announces New Holding Sears Canada and Increase to Leucadia Feb 01 2013 
Ian Cumming Eliminates Mueller Industries Position, Buys Jeffries in Final Transaction Nov 14 2012 
The Importance of the 10-Q: A Practical Example Nov 08 2012 
Bruce Berkowitz Announces Q3 Reduction to CIT and AIG, Sticks With Other Holdings Oct 29 2012 
Horizon Kinetics Comments on Leucadia National Oct 18 2012 
Murray Stahl's Q3 Commentary from Horizon Kinetics Oct 18 2012 

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