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

CNA•NYSE•Insurance & Managed Care
9.5× P/E·Price updated Jun 19, 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%
  • ROA1.96%+23.2%
  • Equity / Assets16.73%-3.2%

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.

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CNA Price & Volume

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

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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%
TTM4.51%

Profit CAGR

10 Years10.31%
5 Years13.12%
3 Years23.29%
TTM48.27%

EPS CAGR

10 Years10.24%
5 Years13.14%
3 Years23.33%
TTM35.99%

Return on Capital

10 Years2.47%
5 Years2.9%
3 Years3.57%
Last Year6.05%

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
Metric
Actual
Est
EPS
$0.83-44.3%
$1.49
Rev
$2.6B-11.3%
$2.9B
Q1 2026
Feb 9, 2026
Metric
Actual
Est
EPS
$1.16-3.3%
$1.20
Rev
$3.8B+30.4%
$2.9B
Q4 2025
Nov 3, 2025
Metric
Actual
Est
EPS
$1.50+20.0%
$1.25
Rev
$3.7B+32.2%
$2.8B
Q3 2025
Aug 4, 2025
Metric
Actual
Est
EPS
$1.23+30.9%
$0.94
Rev
$3.7B+34.7%
$2.8B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$0.83vs $1.49-44.3%
$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
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
TRV logoTRVThe Travelers Companies, Inc.Direct Competitor66.56B307.8111.225.17%12.88%19.12%0.28
HIG logoHIGThe Hartford Financial Services Group, Inc.Direct Competitor35.27B128.259.637.1%14.13%22.01%0.23
CB logoCBChubb LimitedDirect Competitor126.2B323.4012.576.47%17.25%13.62%0.28
WRB logoWRBW. R. Berkley CorporationDirect Competitor25.16B67.1815.107.82%12.1%18.86%0.29
MKL logoMKLMarkel CorporationDirect Competitor23.11B1847.1610.92-0.96%10.7%9.56%0.23
CINF logoCINFCincinnati Financial CorporationDirect Competitor26.5B170.2011.2211.41%21.34%17.98%0.06
AIG logoAIGAmerican International Group, Inc.Product Competitor39.72B74.0213.63-1.82%11.86%7.7%0.22
ACGL logoACGLArch Capital Group Ltd.Product Competitor32.48B91.187.8514.27%22.07%19.02%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
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue
9.54B10.13B10.77B10.69B11.55B11.89B13.13B14B14.71B14.82B
Revenue Growth %
1.88%6.2%6.25%-0.74%8.04%2.99%10.38%6.66%5.1%4.51%
Medical Costs & Claims
6.54B6.91B7.19B7.58B7.81B8.14B8.71B9.54B10.19B9.87B
Medical Cost Ratio %
68.57%68.16%66.77%70.93%67.68%68.48%66.38%68.12%69.27%66.6%
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%
4.95B▲ 0%
Gross Margin %
31.43%31.84%33.23%29.07%32.32%31.52%33.62%31.88%30.73%33.4%
Gross Profit Growth %
5.3%7.6%10.88%-13.16%20.12%0.43%17.74%1.13%1.3%-
Operating Expenses
1.69B2.26B2.35B2.29B2.27B2.93B2.9B3.25B2.9B3.38B
OpEx / Revenue %
17.7%22.33%21.87%21.39%19.66%24.67%22.06%23.23%19.72%22.8%
Depreciation & Amortization
88M79M68M60M54M51M73M67M70M53M
Combined Ratio %
86.27%90.49%88.64%92.32%87.34%93.15%88.43%91.35%88.99%89.4%
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%
1.57B▲ 0%
Operating Margin %
13.73%9.51%11.36%7.68%12.66%6.85%11.57%8.65%11.01%10.6%
Operating Income Growth %
15.22%-26.41%26.87%-32.87%78.08%-44.32%86.49%-20.22%33.77%-
EBITDA
1.4B1.04B1.29B881M1.52B865M1.59B1.28B1.69B1.62B
EBITDA Margin %
14.65%10.29%11.99%8.24%13.13%7.27%12.12%9.13%11.49%10.96%
Interest Expense
161M138M131M122M113M112M127M133M135M136M
Non-Operating Income
-161M-138M-131M-122M-113M-112M-127M-133M-135M-103M
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%
1.54B▲ 0%
Pretax Margin %
13.73%9.51%11.36%7.68%12.66%6.85%11.57%8.65%11.01%10.38%
Income Tax
411M151M223M131M278M132M313M252M342M211M
Effective Tax Rate %
31.37%15.66%18.23%15.96%19.02%16.22%20.62%20.81%21.11%13.72%
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%
1.33B▲ 0%
Net Margin %
9.42%8.02%9.29%6.46%10.25%5.74%9.18%6.85%8.69%8.95%
Net Income Growth %
4.66%-9.57%23%-31%71.59%-42.4%76.69%-20.41%33.26%48.27%
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%
4.91▲ 0%
EPS Growth %
4.1%-9.7%-15.1%0%74.31%-43.31%77.2%-20.54%33.24%35.99%
EPS (Basic)
3.322.992.542.544.422.514.443.534.71-
Diluted Shares Outstanding
272.1M272.5M272.4M272.8M272.8M272.5M272.2M272.7M272.3M270.51M

CNA Balance Sheet

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

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets
52.73B52.92B56.87B60.19B61.69B55.79B59.56B60.81B69.44B62.17B
Asset Growth %
2.6%0.36%7.46%5.85%2.48%-9.55%6.75%2.1%14.19%35.63%
Total Investment Assets
46.87B44.49B47.74B50.29B50.33B43.18B46.56B47.48B50.45B4M
Long-Term Investments
46.87B44.49B47.74B50.29B50.33B43.18B46.56B47.48B46.74B188.94B
Short-Term Investments
000000003.71B1.5B
Total Current Assets
2.65B2.63B2.69B3.03B3.48B3.63B3.79B4.14B14.73B4.24B
Cash & Equivalents
355M310M242M419M536M475M345M472M425M522M
Receivables
2.29B2.32B2.45B2.61B2.94B3.16B3.44B3.67B10.6B35.85B
Other Current Assets
000000000-1.5B
Goodwill & Intangibles
148M146M147M217M215M144M224M222M1.13B3.58B
Goodwill
148M146M147M148M148M144M146M145M148M147M
Intangible Assets
00069M67M078M77M986M0
PP&E (Net)
326M324M502M451M401M381M393M453M282M287M
Other Assets
2.18B4.75B5.15B5.52B6.61B7B7.32B7.29B5.98B7.99B
Total Liabilities
40.48B41.7B44.65B47.49B48.88B47.25B49.67B50.3B57.82B57.7B
Total Debt
2.86B2.68B3.05B3.11B3.03B3B3.25B3.21B2.97B2.97B
Net Debt
2.5B2.37B2.81B2.69B2.49B2.53B2.9B2.74B2.55B2.45B
Long-Term Debt
2.71B2.68B2.68B2.78B2.78B2.54B2.48B2.97B2.97B2.97B
Short-Term Debt
150M038M44M42M243M586M43M00
Total Current Liabilities
0000000038.37B3.98B
Accounts Payable
0000000000
Deferred Revenue
4.03B4.18B4.58B5.12B5.76B6.37B6.93B7.35B7.63B3.98B
Other Current Liabilities
0000000030.74B0
Deferred Taxes
1000K1000K1000K1000K1000K1000K1000K1000K00
Other Liabilities
37.35B35.43B37.43B39.77B40.88B39.56B42.05B42.23B12.34B44.37B
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%
10.86B▲ 0%
Equity Growth %
2.3%-8.39%8.9%4.03%0.8%-33.27%15.73%6.27%10.54%29.38%
Shareholders Equity
12.24B11.22B12.21B12.71B12.81B8.55B9.89B10.51B11.62B10.86B
Minority Interest
0000000000
Retained Earnings
9.41B9.28B9.35B9.08B9.66B9.34B9.76B9.69B9.91B9.45B
Common Stock
683M683M683M683M683M683M683M683M683M683M
Accumulated OCI
32M-878M51M803M320M-3.6B-2.67B-1.99B-1.1B-1.35B
Return on Equity (ROE)
7.43%6.93%8.54%5.54%9.28%6.39%13.07%9.4%11.55%11.94%
Return on Assets (ROA)
1.73%1.54%1.82%1.18%1.94%1.16%2.09%1.59%1.96%1.96%
Equity / Assets
23.22%21.2%21.48%21.11%20.76%15.32%16.61%17.29%16.73%17.46%
Debt / Equity
0.23x0.24x0.25x0.24x0.24x0.35x0.33x0.31x0.26x0.27x
Book Value per Share
45.0041.1644.8446.5846.9531.3736.3438.5542.6840.13
Tangible BV per Share
44.4540.6344.3045.7846.1730.8435.5237.7438.5139.59

CNA Cash Flow Statement

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

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
1.25B1.23B1.77B1.77B2B2.5B2.29B2.57B2.49B2.25B
Operating CF Growth %
-11.44%-2.15%44.66%0%12.51%25.29%-8.67%12.52%-3.15%-69.83%
Operating CF / Revenue %
13.14%12.11%16.49%16.61%17.3%21.04%17.41%18.37%16.92%15.15%
Net Income
899M813M690M690M1.18B682M1.21B959M1.28B1.33B
Depreciation & Amortization
88M79M60M60M54M51M73M67M70M73M
Stock-Based Compensation
36M32M34M0000000
Deferred Taxes
168M-20M-49M-49M43M-89M2M-45M75M80M
Other Non-Cash Items
-2M-3M-205M-171M-384M134M-291M200M-237M-182M
Working Capital Changes
101M-24M1.25B1.25B1.1B1.72B1.3B1.39B1.3B1.06B
Cash from Investing
-424M-177M-705M-705M-1.23B-1.51B-1.84B-1.32B-1.45B-1.09B
Capital Expenditures
-102M-99M-23M-23M-26M-52M-90M-95M-86M-81M
Acquisitions
21M-76M149M149M-194M-199M-238M-238M-257M-204M
Purchase of Investments
-9.24B-11.05B-10.77B-10.77B-9.7B-10.12B-7.18B-6.86B-7.85B-7.7B
Sale/Maturity of Investments
9.13B11.04B10.02B10.02B8.6B8.94B5.68B5.86B6.81B6.96B
Other Investing
-228M18M-82M-82M96M-85M-10M16M-60M-59M
Cash from Financing
-755M-1.08B-902M-902M-648M-1.03B-577M-1.12B-1.1B-1.12B
Dividends Paid
-842M-896M-929M-950M-621M-982M-787M-1.02B-1.05B-1.06B
Share Repurchases
00-23M-18M-18M-39M-24M-20M-34M-36M
Stock Issued
0000000000
Debt Issuance (Net)
1000K-1000K-1000K1000K001000K-1000K-1000K0
Other Financing
-18M-9M74M-10M-9M-11M-14M-12M-18M-21M
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%
39M▲ 0%
Exchange Rate Effect
9M-10M9M9M-4M-19M5M-10M16M5M
Cash at Beginning
271M355M242M242M419M536M475M345M472M425M
Cash at End
355M310M419M419M536M475M345M472M425M522M
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%
2.16B▲ 0%
FCF Growth %
-9.29%-2.08%55.32%0%12.5%24.3%-10.41%12.8%-2.91%-17.15%
FCF Margin %
12.07%11.13%16.27%16.39%17.07%20.6%16.72%17.69%16.34%14.6%
FCF per Share
4.234.146.436.427.238.998.069.088.838

CNA Key Ratios

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

Metric201720182019202020212022202320242025TTM
Combined Ratio
86.27%90.49%88.64%92.32%87.34%93.15%88.43%91.35%88.99%89.4%
Medical Cost Ratio
68.57%68.16%66.77%70.93%67.68%68.48%66.38%68.12%69.27%66.6%
Return on Equity (ROE)
7.43%6.93%8.54%5.54%9.28%6.39%13.07%9.4%11.55%11.94%
Return on Assets (ROA)
1.73%1.54%1.82%1.18%1.94%1.16%2.09%1.59%1.96%1.96%
Equity / Assets
23.22%21.2%21.48%21.11%20.76%15.32%16.61%17.29%16.73%17.46%
Book Value / Share
4541.1644.8446.5846.9531.3736.3438.5542.6840.13
Debt / Equity
0.23x0.24x0.25x0.24x0.24x0.35x0.33x0.31x0.26x0.27x
Revenue Growth
1.88%6.2%6.25%-0.74%8.04%2.99%10.38%6.66%5.1%4.51%
Related:CNA Dividend History·CNA Revenue History·CNA Price History·CNA P/E History·CNA Financial Ratios·CNA Institutional Holders

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 $1.33B 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 8.64%. 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.

What if you invested $1,000 in CNA back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

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How much would $100/month in CNA be worth today?

Dollar cost averaging calculator · DCA vs lump sum

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