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CNA logoCNA Financial Corporation(CNA)Earnings, Financials & Key Ratios

CNA•NYSE•Insurance & Managed Care
$44.53
$12.05B mkt cap·9.5× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustryCommercial lines and surety insurers
AboutCNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company offers professional liability coverages and risk management services to various professional firms, including architects, real estate agents, and accounting and law firms; directors and officers, employment practices, fiduciary, and fidelity coverages to small and mid-size firms, public and privately held firms, and not-for-profit organizations; professional and general liability, as well as associated standard property and casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products. It also provides property insurance products, such as property, marine, boiler, and machinery coverages; casualty insurance products comprising workers' compensation, general and product liability, commercial auto, and umbrella coverages; specialized loss-sensitive insurance programs and total risk management services; and run-off long term care policies. In addition, the company offers long-tail exposures comprising commercial automobile liability, workers' compensation, general and medical professional liability, other professional and management liability, and assumed reinsurance run-off and products liability; and short-tail exposures, such as property, commercial automobile physical damage, marine, and surety. It markets its products through independent agents, brokers, and general underwriters to small, medium, and large businesses; insurance companies; associations; professionals; and other groups in the marine, oil and gas, construction, manufacturing, life science, property, financial services, healthcare, and technology industries. The company was founded in 1853 and is headquartered in Chicago, Illinois. CNA Financial Corporation operates as a subsidiary of Loews Corporation.Show more
  • Revenue$14.71B+5.1%
  • Combined Ratio88.99%-2.6%
  • Net Income$1.28B+33.3%
  • Return on Equity11.55%+22.9%
  • Medical Cost Ratio69.27%+1.7%
  • Operating Margin11.01%+27.3%
  • Net Margin8.69%+26.8%
  • ROA2.06%+29.0%
  • Equity / Assets18.3%+5.8%
  • Book Value per Share42.68+10.7%
  • Tangible BV/Share42.13+11.6%
  • Debt/Equity0.27-10.2%
Analysis→Technical→

CNA Key Insights

CNA Financial Corporation (CNA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Profitable underwriting: 89.0% combined ratio
  • ✓Strong Piotroski F-Score: 7/9
  • ✓Trading at only 1.0x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CNA Price & Volume

CNA Financial Corporation (CNA) stock price & volume — 10-year historical chart

Loading chart...

CNA Growth Metrics

CNA Financial Corporation (CNA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years4.92%
5 Years6.6%
3 Years7.36%
TTM5.1%

Profit CAGR

10 Years10.31%
5 Years13.12%
3 Years23.29%
TTM33.26%

EPS CAGR

10 Years10.24%
5 Years13.14%
3 Years23.33%
TTM32.97%

Return on Capital

10 Years2.12%
5 Years2.21%
3 Years2.42%
Last Year2.61%

CNA Recent Earnings

CNA Financial Corporation (CNA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 4, 2026
EPS
$0.83
Est $1.30
-36.2%
Revenue
$2.6B
Est $2.9B
-11.3%
Q1 2026
Feb 9, 2026
EPS
$1.16
Est $1.20
-3.3%
Revenue
$3.8B
Est $2.9B
+30.4%
Q4 2025
Nov 3, 2025
EPS
$1.50
Est $1.25
+20.0%
Revenue
$3.7B
Est $2.8B
+32.2%
Q3 2025
Aug 4, 2025
EPS
$1.23
Est $0.94
+30.9%
Revenue
$3.7B
Est $2.8B
+34.7%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$0.83vs $1.30-36.2%
$2.6Bvs $2.9B-11.3%
Q1 2026Feb 9, 2026
$1.16vs $1.20-3.3%
$3.8Bvs $2.9B+30.4%
Q4 2025Nov 3, 2025
$1.50vs $1.25+20.0%
$3.7Bvs $2.8B+32.2%
Q3 2025Aug 4, 2025
$1.23vs $0.94+30.9%
$3.7Bvs $2.8B+34.7%
Based on last 12 quarters of dataView full earnings history →

CNA Peer Comparison

CNA Financial Corporation (CNA) competitors in Commercial lines and surety insurers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
TRV logoTRVThe Travelers Companies, Inc.Direct Competitor65.17B301.3910.995.17%12.88%19.12%0.28
HIG logoHIGThe Hartford Financial Services Group, Inc.Direct Competitor36.89B134.1510.077.1%14.13%22.01%15.59%0.23
CB logoCBChubb LimitedDirect Competitor125.88B322.5712.546.47%17.25%13.62%11.55%0.28
WRB logoWRBW. R. Berkley CorporationDirect Competitor24.9B66.4914.947.82%12.1%18.86%13.93%0.29
MKL logoMKLMarkel CorporationDirect Competitor22.08B1764.8110.43-0.96%10.7%9.56%11.57%0.23
CINF logoCINFCincinnati Financial CorporationDirect Competitor24.96B160.3510.5711.41%21.34%17.98%12.39%0.06
AIG logoAIGAmerican International Group, Inc.Product Competitor42.1B78.4714.45-1.82%11.86%7.7%7.87%0.22
ACGL logoACGLArch Capital Group Ltd.Product Competitor33.54B94.148.1014.27%22.07%19.02%18.27%0.11

Compare CNA vs Peers

CNA Financial Corporation (CNA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TRV

Most directly comparable listed peer for CNA.

Scale Benchmark

vs CB

Larger-name benchmark to compare CNA against a more recognizable public peer.

Peer Set

Compare Top 5

vs TRV, HIG, CB, WRB

CNA Income Statement

CNA Financial Corporation (CNA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue9.54B10.13B10.77B10.69B11.55B11.89B13.13B14B14.71B
Revenue Growth %1.88%6.2%6.25%-0.74%8.04%2.99%10.38%6.66%5.1%
Medical Costs & Claims6.54B6.91B7.19B7.58B7.81B8.14B8.71B9.54B10.19B
Medical Cost Ratio %68.57%68.16%66.77%70.93%67.68%68.48%66.38%68.12%69.27%
Gross Profit
3B▲ 0%
3.23B▲ 7.6%
3.58B▲ 10.9%
3.11B▼ 13.2%
3.73B▲ 20.1%
3.75B▲ 0.4%
4.41B▲ 17.7%
4.46B▲ 1.1%
4.52B▲ 1.3%
Gross Margin %31.43%31.84%33.23%29.07%32.32%31.52%33.62%31.88%30.73%
Gross Profit Growth %5.3%7.6%10.88%-13.16%20.12%0.43%17.74%1.13%1.3%
Operating Expenses1.69B2.26B2.35B2.29B2.27B2.93B2.9B3.25B2.9B
OpEx / Revenue %17.7%22.33%21.87%21.39%19.66%24.67%22.06%23.23%19.72%
Depreciation & Amortization88M79M68M60M54M51M73M67M70M
Combined Ratio %86.27%90.49%88.64%92.32%87.34%93.15%88.43%91.35%88.99%
Operating Income
1.31B▲ 0%
964M▼ 26.4%
1.22B▲ 26.9%
821M▼ 32.9%
1.46B▲ 78.1%
814M▼ 44.3%
1.52B▲ 86.5%
1.21B▼ 20.2%
1.62B▲ 33.8%
Operating Margin %13.73%9.51%11.36%7.68%12.66%6.85%11.57%8.65%11.01%
Operating Income Growth %15.22%-26.41%26.87%-32.87%78.08%-44.32%86.49%-20.22%33.77%
EBITDA1.4B1.04B1.29B881M1.52B865M1.59B1.28B1.69B
EBITDA Margin %14.65%10.29%11.99%8.24%13.13%7.27%12.12%9.13%11.49%
Interest Expense161M138M131M122M113M112M127M133M135M
Non-Operating Income-161M-138M-131M-122M-113M-112M-127M-133M-135M
Pretax Income
1.31B▲ 0%
964M▼ 26.4%
1.22B▲ 26.9%
821M▼ 32.9%
1.46B▲ 78.1%
814M▼ 44.3%
1.52B▲ 86.5%
1.21B▼ 20.2%
1.62B▲ 33.8%
Pretax Margin %13.73%9.51%11.36%7.68%12.66%6.85%11.57%8.65%11.01%
Income Tax411M151M223M131M278M132M313M252M342M
Effective Tax Rate %31.37%15.66%18.23%15.96%19.02%16.22%20.62%20.81%21.11%
Net Income
899M▲ 0%
813M▼ 9.6%
1B▲ 23.0%
690M▼ 31.0%
1.18B▲ 71.6%
682M▼ 42.4%
1.21B▲ 76.7%
959M▼ 20.4%
1.28B▲ 33.3%
Net Margin %9.42%8.02%9.29%6.46%10.25%5.74%9.18%6.85%8.69%
Net Income Growth %4.66%-9.57%23%-31%71.59%-42.4%76.69%-20.41%33.26%
EPS (Diluted)
3.30▲ 0%
2.98▼ 9.7%
2.53▼ 15.1%
2.53▲ 0.0%
4.41▲ 74.3%
2.50▼ 43.3%
4.43▲ 77.2%
3.52▼ 20.5%
4.69▲ 33.2%
EPS Growth %4.1%-9.7%-15.1%0%74.31%-43.31%77.2%-20.54%33.24%
EPS (Basic)3.322.992.542.544.422.514.443.534.71
Diluted Shares Outstanding272.1M272.5M272.4M272.8M272.8M272.5M272.2M272.7M272.3M

CNA Balance Sheet

CNA Financial Corporation (CNA) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets52.73B52.92B56.87B60.19B61.69B55.79B59.56B60.81B63.51B
Asset Growth %2.6%0.36%7.46%5.85%2.48%-9.55%6.75%2.1%4.43%
Total Investment Assets46.87B44.49B47.74B50.29B50.33B43.18B46.56B47.48B50.45B
Long-Term Investments46.87B44.49B47.74B50.29B50.33B43.18B46.56B47.48B50.45B
Short-Term Investments000000000
Total Current Assets2.65B2.63B2.69B3.03B3.48B3.63B3.79B4.14B4.16B
Cash & Equivalents355M310M242M419M536M475M345M472M425M
Receivables2.29B2.32B2.45B2.61B2.94B3.16B3.44B3.67B3.74B
Other Current Assets000000000
Goodwill & Intangibles148M146M147M217M215M144M224M222M148M
Goodwill148M146M147M148M148M144M146M145M148M
Intangible Assets00069M67M078M77M0
PP&E (Net)326M324M502M451M401M381M393M453M430M
Other Assets2.18B4.75B5.15B5.52B6.61B7B7.32B7.29B7.3B
Total Liabilities40.48B41.7B44.65B47.49B48.88B47.25B49.67B50.3B51.89B
Total Debt2.86B2.68B3.05B3.11B3.03B3B3.25B3.21B3.19B
Net Debt2.5B2.37B2.81B2.69B2.49B2.53B2.9B2.74B2.76B
Long-Term Debt2.71B2.68B2.68B2.78B2.78B2.54B2.48B2.97B2.97B
Short-Term Debt150M038M44M42M243M586M43M34M
Total Current Liabilities000000000
Accounts Payable000000000
Deferred Revenue4.03B4.18B4.58B5.12B5.76B6.37B6.93B7.35B7.63B
Other Current Liabilities000000000
Deferred Taxes1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Liabilities37.35B35.43B37.43B39.77B40.88B39.56B42.05B42.23B44.15B
Total Equity
12.24B▲ 0%
11.22B▼ 8.4%
12.21B▲ 8.9%
12.71B▲ 4.0%
12.81B▲ 0.8%
8.55B▼ 33.3%
9.89B▲ 15.7%
10.51B▲ 6.3%
11.62B▲ 10.5%
Equity Growth %2.3%-8.39%8.9%4.03%0.8%-33.27%15.73%6.27%10.54%
Shareholders Equity12.24B11.22B12.21B12.71B12.81B8.55B9.89B10.51B11.62B
Minority Interest000000000
Retained Earnings9.41B9.28B9.35B9.08B9.66B9.34B9.76B9.69B9.91B
Common Stock683M683M683M683M683M683M683M683M683M
Accumulated OCI32M-878M51M803M320M-3.6B-2.67B-1.99B-1.1B
Return on Equity (ROE)7.43%6.93%8.54%5.54%9.28%6.39%13.07%9.4%11.55%
Return on Assets (ROA)1.73%1.54%1.82%1.18%1.94%1.16%2.09%1.59%2.06%
Equity / Assets23.22%21.2%21.48%21.11%20.76%15.32%16.61%17.29%18.3%
Debt / Equity0.23x0.24x0.25x0.24x0.24x0.35x0.33x0.31x0.27x
Book Value per Share45.0041.1644.8446.5846.9531.3736.3438.5542.68
Tangible BV per Share44.4540.6344.3045.7846.1730.8435.5237.7442.13

CNA Cash Flow Statement

CNA Financial Corporation (CNA) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations1.25B1.23B1.77B1.77B2B2.5B2.29B2.57B2.49B
Operating CF Growth %-11.44%-2.15%44.66%0%12.51%25.29%-8.67%12.52%-3.15%
Operating CF / Revenue %13.14%12.11%16.49%16.61%17.3%21.04%17.41%18.37%16.92%
Net Income899M813M690M690M1.18B682M1.21B959M1.28B
Depreciation & Amortization88M79M60M60M54M51M73M67M70M
Stock-Based Compensation36M32M34M000000
Deferred Taxes168M-20M-49M-49M43M-89M2M-45M75M
Other Non-Cash Items-2M-3M-205M-171M-384M134M-291M200M-237M
Working Capital Changes101M-24M1.25B1.25B1.1B1.72B1.3B1.39B1.3B
Cash from Investing-424M-177M-705M-705M-1.23B-1.51B-1.84B-1.32B-1.45B
Capital Expenditures-102M-99M-23M-23M-26M-52M-90M-95M-86M
Acquisitions21M-76M149M149M-194M-199M-238M-238M-257M
Purchase of Investments-9.24B-11.05B-10.77B-10.77B-9.7B-10.12B-7.18B-6.86B-7.85B
Sale/Maturity of Investments9.13B11.04B10.02B10.02B8.6B8.94B5.68B5.86B6.81B
Other Investing-228M18M-82M-82M96M-85M-10M16M-60M
Cash from Financing-755M-1.08B-902M-902M-648M-1.03B-577M-1.12B-1.1B
Dividends Paid-842M-896M-929M-950M-621M-982M-787M-1.02B-1.05B
Share Repurchases00-23M-18M-18M-39M-24M-20M-34M
Stock Issued000000000
Debt Issuance (Net)1000K-1000K-1000K1000K001000K-1000K-1000K
Other Financing-18M-9M74M-10M-9M-11M-14M-12M-18M
Net Change in Cash
84M▲ 0%
-45M▼ 153.6%
177M▲ 493.3%
177M▲ 0.0%
117M▼ 33.9%
-61M▼ 152.1%
-130M▼ 113.1%
127M▲ 197.7%
-47M▼ 137.0%
Exchange Rate Effect9M-10M9M9M-4M-19M5M-10M16M
Cash at Beginning271M355M242M242M419M536M475M345M472M
Cash at End355M310M419M419M536M475M345M472M425M
Free Cash Flow
1.15B▲ 0%
1.13B▼ 2.1%
1.75B▲ 55.3%
1.75B▲ 0.0%
1.97B▲ 12.5%
2.45B▲ 24.3%
2.19B▼ 10.4%
2.48B▲ 12.8%
2.4B▼ 2.9%
FCF Growth %-9.29%-2.08%55.32%0%12.5%24.3%-10.41%12.8%-2.91%
FCF Margin %12.07%11.13%16.27%16.39%17.07%20.6%16.72%17.69%16.34%
FCF per Share4.234.146.436.427.238.998.069.088.83

CNA Key Ratios

CNA Financial Corporation (CNA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Combined Ratio87.86%86.27%90.49%88.64%92.32%87.34%93.15%88.43%91.35%88.99%
Medical Cost Ratio69.59%68.57%68.16%66.77%70.93%67.68%68.48%66.38%68.12%69.27%
Return on Equity (ROE)7.24%7.43%6.93%8.54%5.54%9.28%6.39%13.07%9.4%11.55%
Return on Assets (ROA)1.68%1.73%1.54%1.82%1.18%1.94%1.16%2.09%1.59%2.06%
Equity / Assets23.29%23.22%21.2%21.48%21.11%20.76%15.32%16.61%17.29%18.3%
Book Value / Share44.154541.1644.8446.5846.9531.3736.3438.5542.68
Debt / Equity0.23x0.23x0.24x0.25x0.24x0.24x0.35x0.33x0.31x0.27x
Revenue Growth2.91%1.88%6.2%6.25%-0.74%8.04%2.99%10.38%6.66%5.1%

CNA SEC Filings & Documents

CNA Financial Corporation (CNA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

Apr 29, 2026·SEC

Material company update

Feb 9, 2026·SEC

10-K Annual Reports

4
FY 2026

Feb 10, 2026·SEC

FY 2025

Feb 11, 2025·SEC

FY 2024

Feb 6, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 4, 2026·SEC

FY 2025

Nov 3, 2025·SEC

FY 2025

Aug 4, 2025·SEC

CNA Frequently Asked Questions

CNA Financial Corporation (CNA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

CNA Financial Corporation (CNA) grew revenue by 5.1% over the past year. This is steady growth.

Yes, CNA Financial Corporation (CNA) is profitable, generating $1.28B in net income for fiscal year 2025 (8.7% net margin).

Dividend & Returns

Yes, CNA Financial Corporation (CNA) pays a dividend with a yield of 8.63%. This makes it attractive for income-focused investors.

CNA Financial Corporation (CNA) has a return on equity (ROE) of 11.5%. This is reasonable for most industries.

Industry Metrics

CNA Financial Corporation (CNA) has a combined ratio of 89.0%. A ratio below 100% indicates underwriting profitability.

Explore More CNA

CNA Financial Corporation (CNA) financial analysis — history, returns, DCA and operating performance tools

Full CNA Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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