A Business at a Glance
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CNO is a holding company for a group of insurance companies that develop, market and administer health insurance, annuity, individual life insurance and other insurance and financial services products. The terms "CNO Financial Group, Inc.", "CNO", the "Company", "we", "us", and "our" as used in this report refer to CNO and its subsidiaries. Such terms, when used to describe insurance business and products, refer to the insurance business and products of CNO's insurance subsidiaries. We focus on serving middle-income pre-retiree and retired Americans, which we believe are attractive, underserved, high growth markets. We sell our products through exclusive agents, independent producers (some of whom sell one or more of our product lines exclusively) and direct marketing. As of December 31, 2025, we had total assets of $38.8 billion and shareholders' equity of $2.6 billion (which included an accumulated other comprehensive loss of $1.1 billion).
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.5B | 4.5B | 4.4B | 4.1B | 3.6B | 4.1B |
| Net Income | 229M | 229M | 421M | 277M | 631M | 570M |
| EPS | $2.30 | $2.30 | $3.89 | $2.40 | $5.36 | $4.35 |
| Free Cash Flow | 676M | 676M | 628M | 583M | 495M | 598M |
| ROIC | 14.5% | 6.7% | 13.5% | 10.5% | 18.7% | 10.9% |
| Gross Margin | 6.5% | 6.5% | 12.1% | 8.6% | 22.8% | 17.8% |
| Debt/Equity | 0.51 | 0.51 | 0.73 | 0.51 | 0.64 | 0.31 |
| Dividends/Share | $0.66 | $0.67 | $0.63 | $0.59 | $0.55 | $0.51 |
| Operating Income | 553M | 553M | 551M | 460M | 467M | 515M |
| Operating Margin | 12.3% | 12.3% | 12.4% | 11.1% | 13.0% | 12.5% |
| ROE | 8.7% | 8.9% | 17.8% | 13.9% | 23.1% | 12.4% |
| Shares Outstanding | 100M | 100M | 108M | 115M | 118M | 131M |
CNO Financial Group, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
CNO Financial Group, Inc. trades at 18.5x trailing earnings, compared to its 15-year median P/E of 9.4x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 6.3x vs a median of 5.2x. The company's 5-year average ROIC is 12.0% with a gross margin of 13.6%. Total shareholder yield (dividends + buybacks) is 9.3%. At current prices, the estimated annualized return to fair value is +9.4%.
CNO Financial Group, Inc. (CNO) has a current P/E ratio of 18.5, compared to its historical median P/E of 9.4. The stock is currently considered Expensive based on its historical valuation range.
CNO Financial Group, Inc. (CNO) has a 5-year average return on invested capital (ROIC) of 12.0%. This indicates solid capital allocation.
CNO Financial Group, Inc. (CNO) has a market capitalization of $4.3B. It is classified as a mid-cap stock.
Yes, CNO Financial Group, Inc. (CNO) pays a dividend with a trailing twelve-month yield of 1.56%. The company also returns capital through share buybacks, with a buyback yield of 7.79%.
Based on historical P/E analysis, CNO Financial Group, Inc. (CNO) appears expensive. The current P/E of 18.5 is 97% above its historical median of 9.4. The estimated fair value CAGR (P/E method) is 12.0%.
CNO Financial Group, Inc. (CNO) operates in the Accident & Health Insurance industry, within the Financials sector.
CNO Financial Group, Inc. (CNO) reported annual revenue of $4.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
CNO Financial Group, Inc. (CNO) has a net profit margin of 5.1%. This is a modest margin.
CNO Financial Group, Inc. (CNO) generated $676 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CNO Financial Group, Inc. (CNO) has a debt-to-equity ratio of 0.51. This indicates moderate leverage.
CNO Financial Group, Inc. (CNO) reported earnings per share (EPS) of $2.30 in its most recent fiscal year.
CNO Financial Group, Inc. (CNO) has a return on equity (ROE) of 8.9%. This indicates moderate shareholder returns.
CNO Financial Group, Inc. (CNO) has a 5-year average gross margin of 13.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for CNO Financial Group, Inc. (CNO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CNO Financial Group, Inc. (CNO) has a book value per share of $26.46, based on its most recent annual SEC filing.