Land Inventory

Land inventory for a home building company

Large Cap

A market capitalization (stock price times shares outstanding) of $5 billion or more.

Last Price

Stock price minimum 15 minute delayed

Leading Economic Indicators

A monthly Commerce Department index designed to gauge future economic activity.


Contractual rentals of plant and equipment. Must be ``capitalized'' when most of the benefits and obligations of ownership are transferred to the lessee. Capitalizing leases increases long-term debt and gross plant, and depreciation and interest are charged to profits. Uncapitalized-lease accounting enhances the balance sheet, since the financial obligation is not shown.

Leases and Uncapitalized Annual Rentals

Leases and uncapitalized annual rentals as reported in the Capital Structure

Legends Box

The box at the top of the Price Chart in each full-page report in The Value Line Investment Survey. This box is labeled LEGENDS and includes the specific “Cash Flow” per share multiple that will be plotted on the Price Chart and lists stock splits. It also identifies the “Cash Flow” and Relative Price Strength lines that are plotted on the Price Chart

Leveraged Buyout

A corporate takeover, often led by members of management, in which funds are borrowed against company assets in order to pay off existing shareholders. As a result, a publicly held company becomes a highly leveraged, privately held company.

Life Premium Income (Insurance Industries)

Funds received from policyholders in exchange for promises to make future payments upon (1) death or at a specific date or dates under various forms of life insurance and annuity contracts and/or (2) disability under accident and health contracts.

Life Premiums (Earned)

Life premiums earned for an insurance company

Life Premiums (Earned) per share

Life premiums earned per share for an insurance company


The amount of security available for sale at any time.

List Universe

The List Universe can be accessed from the Browse Research tab on, and is the landing page where subscribers can access Value Line's analysis and data on the stocks that are included in their subscriptions.

Load Factor

Load factor for an airline

Load Factor (Air Transport Industry)

The percentage of total airline seating capacity that is actually sold and utilized. It is computed by dividing revenue passenger miles flown by available seat miles flown in scheduled service.

Load Factor (Electric Utility Industries)

The ratio of the average load in kilowatts supplied during a designated period to the maximum load occurring in that period.

Loan Loss Experience (Bank and Thrift Industries)

Net loan charge-offs divided by average loans outstanding in a given period.

Loan Loss Provision

Funds set aside each quarter in order to cover future possible losses on loans that are not repaid. This figure appears on the bank's income statement.

Loan Loss Provision (Bank and Thrift Industries)

Funds set aside each quarter in order to cover future possible losses on loans that are not repaid. This figure appears on the bank’s income statement.

Loan Loss Reserve (Bank Industries)

Reserves set aside at a point in time in order to cover future possible loan losses. This figure appears on the bank's balance sheet.

Loans & Real Estate

Total loans and real estate held by a real estate investment trust (REIT)

Loans & Real Estate per (common) share

Total loans and real estate per common share for a real estate investment trust (REIT)

Long Short

This is how much leverage an ETF has. L2X= leveraged two times long, while S3X would be leveraged short three times.

Long-Term Debt

The portion of borrowings (including bank notes, debentures, and capitalized leases) that will be due not in the current 12 months, but in future operating years.

Long-Term Interest

Long-term interest, as reported in the Capital Structure

Long-Term Interest Earned

Pretax income plus long-term interest expense (including capitalized interest) divided by long-term interest.

Loss Provision

Loss provision for selected financial companies

Loss Reserves

Loss reserves for selected life insurance companies