A Business at a Glance
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CNA FINANCIAL CORP
CNA
$14.6B
Mkt Cap
$53.66
+2.76%
CNA FINANCIAL CORP (CNA) has a current P/E ratio of 11.4, compared to its historical median P/E of 8.9. The stock is currently considered Expensive based on its historical valuation range.
CNA FINANCIAL CORP (CNA) has a 5-year average return on invested capital (ROIC) of 8.1%. This is below average and may indicate limited pricing power.
CNA FINANCIAL CORP (CNA) has a market capitalization of $14.5B. It is classified as a large-cap stock.
Yes, CNA FINANCIAL CORP (CNA) pays a dividend with a trailing twelve-month yield of 7.27%. The company also returns capital through share buybacks, with a buyback yield of 0.25%.
Based on historical P/E analysis, CNA FINANCIAL CORP (CNA) appears expensive. The current P/E of 11.4 is 29% above its historical median of 8.9. The estimated fair value CAGR (P/E method) is 5.6%.
CNA FINANCIAL CORP (CNA) operates in the Fire, Marine & Casualty Insurance industry, within the Financials sector.
CNA FINANCIAL CORP (CNA) reported annual revenue of $15.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
CNA Financial Corporation (CNAF) was incorporated in 1967 and is an insurance holding company. References to “CNA,” “the Company,” “we,” “our,” “us” or like terms refer to the business of CNAF and its subsidiaries. CNA's property and casualty and remaining life and group insurance operations are primarily conducted by Continental Casualty Company (CCC), The Continental Insurance Company, Western Surety Company, CNA Insurance Company Limited, Hardy Underwriting Bermuda Limited and its subsidiaries (Hardy), and CNA Insurance Company (Europe) S.A. Loews Corporation (Loews) owned approximately 92% of our outstanding common stock as of December 31, 2025. Our insurance products primarily include commercial property and casualty coverages, including surety. Our services include warranty, risk management information services and claims administration.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 15.0B | 15.0B | 14.3B | 13.3B | 11.9B | 11.9B |
| Net Income | 1.2B | 1.3B | 959M | 1.2B | 682M | 1.2B |
| EPS | $4.49 | $4.69 | $3.52 | $4.43 | $2.51 | $4.34 |
| Free Cash Flow | 2.2B | 2.4B | 2.5B | 2.2B | 2.5B | 2.0B |
| ROIC | 0.0% | 9.1% | 7.4% | 10.3% | 5.5% | 8.1% |
| Gross Margin | - | 10.8% | 8.5% | 11.4% | 6.9% | 12.3% |
| Debt/Equity | 0.27 | 0.26 | 0.28 | 0.31 | 0.33 | 0.25 |
| Dividends/Share | $3.90 | $3.84 | $3.76 | $2.88 | $3.60 | $2.27 |
| Operating Income | 0 | 1.6B | 1.2B | 1.5B | 814M | 1.5B |
| Operating Margin | 0.0% | 10.8% | 8.5% | 11.4% | 6.9% | 12.3% |
| ROE | 11.2% | 11.5% | 9.4% | 13.1% | 6.9% | 9.9% |
| Shares Outstanding | 271M | 272M | 272M | 272M | 272M | 273M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 9.7B | 9.1B | 9.4B | 9.5B | 10.1B | 10.8B | 10.8B | 11.9B | 11.9B | 13.3B | 14.3B | 15.0B | 15.0B |
| Gross Margin | 12.5% | 6.0% | 12.1% | 13.7% | 9.5% | 11.4% | 7.6% | 12.3% | 6.9% | 11.4% | 8.5% | 10.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 1.2B | 549M | 1.1B | 1.3B | 964M | 1.2B | 821M | 1.5B | 814M | 1.5B | 1.2B | 1.6B | 0 |
| Op. Margin | 12.5% | 6.0% | 12.1% | 13.7% | 9.5% | 11.4% | 7.6% | 12.3% | 6.9% | 11.4% | 8.5% | 10.8% | 0.0% |
| Net Income | 691M | 479M | 859M | 899M | 813M | 1.0B | 690M | 1.2B | 682M | 1.2B | 959M | 1.3B | 1.2B |
| Net Margin | 7.1% | 5.3% | 9.2% | 9.4% | 8.0% | 9.3% | 6.4% | 9.9% | 5.7% | 9.1% | 6.7% | 8.5% | 8.1% |
| Non-Recurring | -174M | 156M | 100M | 14M | 21M | 44M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 4.6% | 3.3% | 6.0% | 6.1% | 5.6% | 6.9% | 4.5% | 8.1% | 5.5% | 10.3% | 7.4% | 9.1% | 0.0% |
| ROE | 5.4% | 3.9% | 7.2% | 7.4% | 6.9% | 8.5% | 5.5% | 9.9% | 6.9% | 13.1% | 9.4% | 11.5% | 11.2% |
| ROA | 1.2% | 0.9% | 1.6% | 1.6% | 1.4% | 1.7% | 1.1% | 1.8% | 1.1% | 1.9% | 1.5% | 1.9% | 1.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.4B | 1.4B | 1.4B | 1.3B | 1.2B | 1.1B | 1.8B | 2.0B | 2.5B | 2.3B | 2.6B | 2.5B | 2.2B |
| Free Cash Flow | 1.4B | 1.3B | 1.3B | 1.2B | 1.1B | 1.1B | 1.8B | 2.0B | 2.5B | 2.2B | 2.5B | 2.4B | 2.2B |
| Owner Earnings | 1.3B | 1.3B | 1.3B | 1.1B | 1.1B | 1.0B | 1.7B | 1.9B | 2.4B | 2.2B | 2.5B | 2.4B | 2.1B |
| CapEx | 71M | 125M | 146M | 102M | 99M | 26M | 23M | 26M | 52M | 90M | 95M | 86M | 81M |
| Maint. CapEx | 83M | 84M | 77M | 88M | 79M | 68M | 60M | 54M | 51M | 73M | 67M | 70M | 73M |
| Growth CapEx | 0 | 41M | 69M | 14M | 20M | 0 | 0 | 0 | 1.0M | 17M | 28M | 16M | 8.0M |
| D&A | 83M | 84M | 77M | 88M | 79M | 68M | 60M | 54M | 51M | 73M | 67M | 70M | 73M |
| CapEx/OCF | 4.9% | 9.0% | 10.3% | 8.1% | 8.1% | 2.3% | 1.3% | 1.3% | 2.1% | 3.9% | 3.7% | 3.5% | 3.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 541M | 811M | 813M | 842M | 896M | 929M | 950M | 621M | 982M | 787M | 1.0B | 1.0B | 1.1B |
| Dividend Yield | 11.6% | 16.9% | 17.6% | 11.8% | 11.8% | 11.9% | 14.8% | 7.1% | 10.7% | 8.7% | 9.0% | 8.4% | 7.3% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 23M | 18M | 18M | 39M | 24M | 20M | 34M | 36M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.3% | 0.2% | 0.2% | 0.4% | 0.2% | 0.2% | 0.3% | 0.2% |
| Stock-Based Comp | 11M | 14M | 36M | 36M | 32M | 34M | 37M | 32M | 36M | 38M | 42M | 41M | 41M |
| Debt Repayment | 549M | 0 | 358M | 391M | 180M | 520M | 419M | 0 | 0 | 243M | 550M | 500M | 500M |
| Balance Sheet | |||||||||||||
| Net Debt | 663M | 513M | 1.0B | 1.1B | 1.1B | 576M | -42.2B | 253M | 474M | 521M | 413M | 226M | 951M |
| Cash & Equiv. | 190M | 387M | 271M | 355M | 310M | 242M | 419M | 536M | 475M | 345M | 472M | 425M | 2.0B |
| Long-Term Debt | 2.6B | 2.2B | 2.7B | 2.7B | 2.7B | 2.7B | 2.8B | 2.8B | 2.5B | 2.5B | 3.0B | 3.0B | 3.0B |
| Debt/Equity | 0.20 | 0.22 | 0.23 | 0.23 | 0.24 | 0.22 | 0.22 | 0.25 | 0.33 | 0.31 | 0.28 | 0.26 | 0.27 |
| Interest Coverage | 6.6 | 3.5 | 7.2 | 8.1 | 7.0 | 9.3 | 6.7 | 12.9 | 7.3 | 12.0 | 9.1 | 12.0 | 12.0 |
| Equity | 12.8B | 11.8B | 12.0B | 12.2B | 11.2B | 12.2B | 12.7B | 11.1B | 8.5B | 9.9B | 10.5B | 11.6B | 10.9B |
| Total Assets | 55.6B | 55.0B | 55.2B | 56.6B | 57.2B | 60.6B | 64.0B | 66.6B | 61.0B | 64.7B | 66.5B | 69.4B | 68.6B |
| Total Liabilities | 42.8B | 43.3B | 43.3B | 44.3B | 45.9B | 48.4B | 51.3B | 53.8B | 52.5B | 54.8B | 56.0B | 57.8B | 57.7B |
| Intangibles | 71M | 68M | 59M | 63M | 61M | 62M | 64M | 63M | 68M | 76M | 75M | N/A | N/A |
| Retained Earnings | 9.6B | 9.3B | 9.4B | 9.4B | 9.3B | 9.3B | 9.1B | 9.7B | 9.3B | 9.8B | 9.7B | 9.9B | 9.4B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 2.55 | 1.77 | 3.17 | 3.30 | 2.98 | 3.67 | 2.53 | 4.34 | 2.51 | 4.43 | 3.52 | 4.69 | 4.49 |
| Owner EPS | 4.97 | 4.76 | 4.81 | 4.15 | 4.09 | 3.81 | 6.15 | 7.00 | 8.89 | 7.99 | 9.04 | 8.73 | 7.88 |
| Book Value | 47.21 | 43.44 | 44.17 | 44.94 | 41.12 | 44.83 | 46.59 | 40.71 | 31.46 | 36.37 | 38.59 | 42.65 | 40.13 |
| Cash Flow/Share | 5.31 | 5.13 | 5.23 | 4.60 | 4.50 | 4.18 | 6.51 | 7.32 | 9.21 | 8.40 | 9.44 | 9.14 | 4.76 |
| Dividends/Share | 2.00 | 3.00 | 3.00 | 3.10 | 3.30 | 3.40 | 3.48 | 2.27 | 3.60 | 2.88 | 3.76 | 3.84 | 3.90 |
| Shares Out. | 271.0M | 270.6M | 271.0M | 272.4M | 272.8M | 272.5M | 272.7M | 272.8M | 271.7M | 272.0M | 272.4M | 272.5M | 270.5M |
| Valuation | |||||||||||||
| P/E Ratio | 6.7 | 9.5 | 6.8 | 8.9 | 8.8 | 7.8 | 10.6 | 7.4 | 13.2 | 8.1 | 12.7 | 10.2 | 12.0 |
| P/FCF | 3.4 | 3.6 | 4.6 | 7.0 | 6.3 | 7.0 | 4.2 | 4.5 | 3.7 | 4.5 | 4.9 | 5.4 | 6.7 |
| EV/EBIT | 6.0 | 10.1 | 6.6 | 7.4 | 8.9 | 7.7 | 10.7 | 7.3 | 12.8 | 7.8 | 11.3 | 9.1 | N/A |
| Price/Book | 0.4 | 0.4 | 0.5 | 0.7 | 0.6 | 0.6 | 0.6 | 0.7 | 1.1 | 1.0 | 1.2 | 1.1 | 1.3 |
| Price/Sales | 0.5 | 0.5 | 0.5 | N/A | 7.6 | 6.7 | 5.1 | 6.1 | 5.8 | 5.6 | 7.1 | 7.9 | 1.0 |
| FCF Yield | 29.6% | 27.7% | 21.7% | 14.3% | 15.8% | 14.3% | 23.9% | 22.1% | 27.1% | 22.4% | 20.3% | 18.5% | 14.9% |
| Market Cap | 4.6B | 4.6B | 5.8B | 8.0B | 7.2B | 7.8B | 7.3B | 8.9B | 9.0B | 9.8B | 12.2B | 13.0B | 14.5B |
| Avg. Price | 17.23 | 17.75 | 17.00 | 26.14 | 27.95 | 28.71 | 23.56 | 31.95 | 33.70 | 33.45 | 41.99 | 45.93 | 53.66 |
| Year-End Price | 17.06 | 16.82 | 21.57 | 29.48 | 26.22 | 28.52 | 26.92 | 32.65 | 33.22 | 35.97 | 44.66 | 47.76 | 53.66 |
CNA FINANCIAL CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
CNA FINANCIAL CORP trades at 11.4x trailing earnings, compared to its 15-year median P/E of 8.9x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 6.0x vs a median of 4.8x. The company's 5-year average ROIC is 8.1% with a gross margin of 10.0%. Total shareholder yield (dividends + buybacks) is 7.5%. At current prices, the estimated annualized return to fair value is +14.3%.
CNA FINANCIAL CORP (CNA) has a net profit margin of 8.5%. This is a modest margin.
CNA FINANCIAL CORP (CNA) generated $2.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CNA FINANCIAL CORP (CNA) has a debt-to-equity ratio of 0.26. This indicates a conservatively financed balance sheet.
CNA FINANCIAL CORP (CNA) reported earnings per share (EPS) of $4.69 in its most recent fiscal year.
CNA FINANCIAL CORP (CNA) has a return on equity (ROE) of 11.5%. This indicates moderate shareholder returns.
CNA FINANCIAL CORP (CNA) has a 5-year average gross margin of 10.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for CNA FINANCIAL CORP (CNA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CNA FINANCIAL CORP (CNA) has a book value per share of $42.65, based on its most recent annual SEC filing.