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CNO logoCNO Financial Group, Inc.(CNO)Earnings, Financials & Key Ratios

CNO•NYSE•Insurance & Managed Care
$45.71
$4.28B mkt cap·19.5× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryLife InsuranceSub-IndustryIndividual life and final expense insurers
AboutCNO Financial Group, Inc., through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face. The company also focuses on worksite and group sales for businesses, associations, and other membership groups by interacting with customers at their place of employment. In addition, it provides fixed index annuities; fixed interest annuities, including fixed rate single and flexible premium deferred annuities; single premium immediate annuities; supplemental health products, such as specified disease, accident, and hospital indemnity products; and long-term care plans primarily to retirees and older self-employed individuals in the middle-income market. Further, the company offers universal life and other interest-sensitive life products; and traditional life policies that include whole life, graded benefit life, term life, and single premium whole life products, as well as graded benefit life insurance products. CNO Financial Group, Inc. markets its products under the Bankers Life, Washington National, and Colonial Penn brand names. The company sells its products through agents, independent producers, and direct marketing. CNO Financial Group, Inc. was founded in 1979 and is headquartered in Carmel, Indiana.Show more
  • Revenue$4.49B+0.9%
  • Combined Ratio93.46%+5.8%
  • Net Income$229M-43.2%
  • Return on Equity8.9%-47.9%
  • Medical Cost Ratio55.21%-10.5%
  • Operating Margin6.54%-43.9%
  • Net Margin5.11%-43.8%
  • ROA0.6%-46.0%
  • Equity / Assets6.8%+2.3%
  • Book Value per Share26.99+16.0%
  • Tangible BV/Share1.00-45.0%
  • Debt/Equity1.54-14.5%
Technical→

CNO Key Insights

CNO Financial Group, Inc. (CNO) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Profitable underwriting: 93.5% combined ratio
  • ✓13 consecutive years of dividend growth
  • ✓Low loss ratio of 55.2%
  • ✓Share count reduced 9.6% through buybacks
  • ✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

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

CNO Price & Volume

CNO Financial Group, Inc. (CNO) stock price & volume — 10-year historical chart

Loading chart...

CNO Growth Metrics

CNO Financial Group, Inc. (CNO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years1.68%
5 Years3.27%
3 Years7.85%
TTM0.94%

Profit CAGR

10 Years-1.65%
5 Years-5.35%
3 Years-28.62%
TTM-45.17%

EPS CAGR

10 Years5.39%
5 Years2.18%
3 Years-24.03%
TTM-40.89%

Return on Capital

10 Years1.86%
5 Years2.08%
3 Years1.77%
Last Year1.48%

CNO Recent Earnings

CNO Financial Group, Inc. (CNO) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
Apr 30, 2026
EPS
$1.29
Est $0.91
+41.8%
Revenue
$1.0B
Est $1.0B
+2.6%
Q1 2026
Feb 5, 2026
EPS
$1.47
Est $1.20
+22.5%
Revenue
$1.1B
Est $1.0B
+13.9%
Q4 2025
Nov 3, 2025
EPS
$0.96
Est $1.21
-20.7%
Revenue
$1.2B
Est $1.0B
+18.5%
Q3 2025
Jul 28, 2025
EPS
$0.87
Est $0.85
+2.4%
Revenue
$1.2B
Est $975M
+18.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 30, 2026
$1.29vs $0.91+41.8%
$1.0Bvs $1.0B+2.6%
Q1 2026Feb 5, 2026
$1.47vs $1.20+22.5%
$1.1Bvs $1.0B+13.9%
Q4 2025Nov 3, 2025
$0.96vs $1.21-20.7%
$1.2Bvs $1.0B+18.5%
Q3 2025Jul 28, 2025
$0.87vs $0.85+2.4%
$1.2Bvs $975M+18.1%
Based on last 12 quarters of dataView full earnings history →

CNO Peer Comparison

CNO Financial Group, Inc. (CNO) competitors in Individual life and final expense 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
GL logoGLGlobe Life Inc.Direct Competitor12.11B154.3910.983.82%19.36%20.64%0.44
FG logoFGF&G Annuities & Life, Inc.Direct Competitor4B29.4615.675.72%4.8%5.61%0.45
CRBG logoCRBGCorebridge Financial, Inc.Direct Competitor12.81B28.05-41.257.88%1.85%0.78
PFG logoPFGPrincipal Financial Group, Inc.Direct Competitor22B101.5519.34-3.11%7.58%9.89%0.34
LNC logoLNCLincoln National CorporationDirect Competitor6.41B37.622.0453.61%11.43%20.18%0.77
RLI logoRLIRLI Corp.Direct Competitor4.51B49.0111.246.33%20.8%22%0.06
MET logoMETMetLife, Inc.Product Competitor52.27B80.1616.7010.22%4.44%11.88%0.70
PRU logoPRUPrudential Financial, Inc.Product Competitor34.86B100.169.80-14.01%5.62%10.26%0.65

Compare CNO vs Peers

CNO Financial Group, Inc. (CNO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs GL

Most directly comparable listed peer for CNO.

Scale Benchmark

vs BLK

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

Peer Set

Compare Top 5

vs GL, FG, CRBG, PFG

CNO Income Statement

CNO Financial Group, Inc. (CNO) 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
Revenue4.3B4.31B4.02B3.82B4.12B3.58B4.15B4.45B4.49B
Revenue Growth %7.74%0.28%-6.9%-4.85%7.88%-13.23%15.94%7.21%0.94%
Medical Costs & Claims2.96B3.73B2.78B2.54B2.42B1.79B2.61B2.74B2.48B
Medical Cost Ratio %68.76%86.55%69.29%66.42%58.77%49.95%63.04%61.71%55.21%
Gross Profit
1.34B▲ 0%
580.2M▼ 56.8%
1.23B▲ 112.5%
1.28B▲ 4.1%
1.7B▲ 32.4%
1.79B▲ 5.3%
1.53B▼ 14.4%
1.7B▲ 11.1%
2.01B▲ 18.1%
Gross Margin %31.24%13.45%30.71%33.58%41.23%50.05%36.96%38.29%44.79%
Gross Profit Growth %15.58%-56.83%112.53%4.07%32.42%5.34%-14.39%11.07%18.07%
Operating Expenses863.4M845M958.9M939M966.3M973.7M1.18B1.18B1.72B
OpEx / Revenue %20.07%19.59%23.88%24.57%23.44%27.22%28.35%26.63%38.25%
Depreciation & Amortization265.4M292.2M267.9M303.9M236.6M248.5M267.4M292.4M0
Combined Ratio %88.83%106.14%93.17%90.99%82.22%77.17%91.4%88.34%93.46%
Operating Income
480.5M▲ 0%
-264.8M▼ 155.1%
274.2M▲ 203.5%
344.3M▲ 25.6%
733.1M▲ 112.9%
816.5M▲ 11.4%
356.8M▼ 56.3%
518.3M▲ 45.3%
293.4M▼ 43.4%
Operating Margin %11.17%-6.14%6.83%9.01%17.78%22.83%8.6%11.66%6.54%
Operating Income Growth %36.04%-155.11%203.55%25.57%112.92%11.38%-56.3%45.26%-43.39%
EBITDA745.9M27.4M542.1M648.2M969.7M1.06B624.2M810.7M524.3M
EBITDA Margin %17.34%0.64%13.5%16.96%23.52%29.78%15.05%18.24%11.68%
Interest Expense123.7M149.8M152.3M108.8M95.4M137M238.6M254.4M230.9M
Non-Operating Income-123.7M-149.8M-152.3M-108.8M-95.4M-137M-238.6M-254.4M-230.9M
Pretax Income
480.5M▲ 0%
-264.8M▼ 155.1%
274.2M▲ 203.5%
344.3M▲ 25.6%
733.1M▲ 112.9%
816.5M▲ 11.4%
356.8M▼ 56.3%
518.3M▲ 45.3%
293.4M▼ 43.4%
Pretax Margin %11.17%-6.14%6.83%9.01%17.78%22.83%8.6%11.66%6.54%
Income Tax304.9M50.2M-135.2M42.5M162.8M185.9M80.3M114.3M64.1M
Effective Tax Rate %63.45%-18.96%-49.31%12.34%22.21%22.77%22.51%22.05%21.85%
Net Income
175.6M▲ 0%
-315M▼ 279.4%
409.4M▲ 230.0%
301.8M▼ 26.3%
570.3M▲ 89.0%
630.6M▲ 10.6%
276.5M▼ 56.2%
404M▲ 46.1%
229.3M▼ 43.2%
Net Margin %4.08%-7.3%10.19%7.9%13.83%17.63%6.67%9.09%5.11%
Net Income Growth %-50.98%-279.38%229.97%-26.28%88.97%10.57%-56.15%46.11%-43.24%
EPS (Diluted)
1.02▲ 0%
-1.90▼ 286.3%
2.61▲ 237.4%
2.11▼ 19.2%
3.36▲ 59.2%
5.36▲ 59.5%
2.40▼ 55.2%
3.74▲ 55.8%
2.35▼ 37.2%
EPS Growth %-49.25%-286.27%237.37%-19.16%59.24%59.52%-55.22%55.83%-37.17%
EPS (Basic)1.03-1.902.622.123.435.452.443.812.35
Diluted Shares Outstanding172.14M165.46M157.15M143.16M131.13M117.72M115.12M108.12M97.76M

CNO Balance Sheet

CNO Financial Group, Inc. (CNO) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets33.11B31.44B33.63B35.34B36.2B33.13B35.03B37.85B38.79B
Asset Growth %3.55%-5.05%6.97%5.08%2.45%-8.48%5.72%8.06%2.49%
Total Investment Assets27.85B23B25.58B27.58B51.17B24.34B768.6M27.87B30B
Long-Term Investments25.23B20.44B22.77B24.96B26.36B3.78B-20.74B4.84B22.08B
Short-Term Investments22.91B18.45B21.3B23.38B24.81B20.56B21.51B23.03B7.92B
Total Current Assets578M594M0029.38B26.73B029.99B13.58B
Cash & Equivalents178.9M62.4M74.7M54.1M99.6M69.2M774.5M1.66B956.1M
Receivables005.22B4.78B4.47B5.52B4.98B4.96B4.68B
Other Current Assets00-26.59B-28.22B0575.7M-27.26B341M27.4M
Goodwill & Intangibles1.39B1.67B001.33B1.97B2.13B2.32B2.54B
Goodwill000000000
Intangible Assets1.39B1.67B001.33B1.97B2.13B2.32B2.54B
PP&E (Net)-1.39B-2.7B0048.2M085.3M00
Other Assets-20.56B-12.86B-22.77B-24.96B-1.38B648.8M52.42B703.2M590.9M
Total Liabilities28.26B28.07B28.95B29.86B30.94B31.36B32.81B35.33B36.15B
Total Debt3.97B3.98B3.79B3.93B4B3.88B4.15B4.52B4.05B
Net Debt3.79B3.92B3.71B3.88B3.9B3.81B3.38B2.86B3.1B
Long-Term Debt3.97B3.98B3.79B3.93B4B3.88B4.15B4.52B4.05B
Short-Term Debt000000000
Total Current Liabilities24.29B24.09B008.4M15.47B017.82B19.14B
Accounts Payable000000000
Deferred Revenue00000235M0226.8M228M
Other Current Liabilities24.29B24.09B008.4M15.23B017.59B18.91B
Deferred Taxes1000K1000K0000000
Other Liabilities00-3.79B-3.93B012.01B28.66B12.99B12.96B
Total Equity
4.85B▲ 0%
3.37B▼ 30.5%
4.68B▲ 38.7%
5.48B▲ 17.3%
5.26B▼ 4.1%
1.77B▼ 66.4%
2.22B▲ 25.3%
2.52B▲ 13.5%
2.64B▲ 4.9%
Equity Growth %8.04%-30.46%38.75%17.26%-4.09%-66.37%25.26%13.52%4.89%
Shareholders Equity4.85B3.37B4.68B5.48B5.26B1.77B2.22B2.52B2.64B
Minority Interest000000000
Retained Earnings765.8M196.6M535.7M752.3M1.13B1.69B1.9B2.25B2.42B
Common Stock1.7M1.6M1.5M1.3M1.2M1.1M1.1M1M900K
Accumulated OCI1.01B177.7M1.37B2.19B1.95B-1.96B-1.58B-1.37B-1.11B
Return on Equity (ROE)3.76%-7.67%10.17%5.94%10.62%17.94%13.88%17.08%8.9%
Return on Assets (ROA)0.54%-0.98%1.26%0.88%1.59%1.82%0.81%1.11%0.6%
Equity / Assets14.64%10.72%13.91%15.52%14.53%5.34%6.33%6.65%6.8%
Debt / Equity0.82x1.18x0.81x0.72x0.76x2.20x1.87x1.80x1.54x
Book Value per Share28.1620.3729.7638.3140.1115.0319.2523.2626.99
Tangible BV per Share20.1110.3029.7638.3129.93-1.750.791.811.00

CNO Cash Flow Statement

CNO Financial Group, Inc. (CNO) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations613.1M317.8M696.7M735.5M598.3M495.4M582.9M627.7M675.7M
Operating CF Growth %-19.28%-48.17%119.23%5.57%-18.65%-17.2%17.66%7.69%7.65%
Operating CF / Revenue %14.25%7.37%17.35%19.25%14.51%13.85%14.06%14.12%15.06%
Net Income175.6M-315M278M301.8M570.3M630.6M276.5M404M229.3M
Depreciation & Amortization265.4M292.2M267.9M303.9M236.6M248.5M267.4M292.4M318.5M
Stock-Based Compensation21.4M24.7M18.8M025.2M0000
Deferred Taxes227.5M18.4M-132.8M14.1M146.5M152M21.1M59.1M0
Other Non-Cash Items-233.7M728.2M-367.6M-281.9M-726.5M-161M-431.8M-684.1M-490.2M
Working Capital Changes464.7M207.8M632.4M397.6M346.2M-374.7M449.7M556.3M618.1M
Cash from Investing-239.6M-525.7M-555.6M-608.4M-1.53B-1.78B-872.3M-1.49B-1.67B
Capital Expenditures000000000
Acquisitions000000000
Purchase of Investments-6.14B-6.21B-5.59B-4.28B-6.15B-6.52B-3.62B-6.89B-8.46B
Sale/Maturity of Investments5.92B5.71B5.14B3.71B4.7B4.8B2.79B5.42B6.8B
Other Investing-19.5M-25M-102M-39.8M-75.3M-61.2M-36.6M-13.5M-3.2M
Cash from Financing-274M107.2M-143M210.1M667.6M1.2B533.5M1.97B-22.6M
Dividends Paid-59.6M-64.8M-67.1M-67M-65.7M-64.8M-68.1M-67.7M-66.2M
Share Repurchases-168.3M-108M-254.5M-268.3M-407.8M-190.1M-166.1M-300.2M-331.4M
Stock Issued8.3M3.9M9.2M19M21.5M13.5M13.2M11.2M11.6M
Debt Issuance (Net)-1000K-100K-1000K1000K1000K-1000K1000K1000K-1000K
Other Financing213.3M276.2M379.2M384.5M1.05B1.56B495.8M1.96B833M
Net Change in Cash
99.5M▲ 0%
-100.7M▼ 201.2%
-1.9M▲ 98.1%
337.2M▲ 17847.4%
-260.2M▼ 177.2%
-86.8M▲ 66.6%
244.1M▲ 381.2%
1.11B▲ 354.2%
-1.01B▼ 191.5%
Exchange Rate Effect000000000
Cash at Beginning478.9M757.3M656.6M654.7M991.9M731.7M644.9M889M2B
Cash at End578.4M656.6M654.7M991.9M731.7M644.9M889M2B983.5M
Free Cash Flow
613.1M▲ 0%
317.8M▼ 48.2%
696.7M▲ 119.2%
735.5M▲ 5.6%
598.3M▼ 18.7%
495.4M▼ 17.2%
582.9M▲ 17.7%
627.7M▲ 7.7%
675.7M▲ 7.6%
FCF Growth %-19.28%-48.17%119.23%5.57%-18.65%-17.2%17.66%7.69%7.65%
FCF Margin %14.25%7.37%17.35%19.25%14.51%13.85%14.06%14.12%15.06%
FCF per Share3.561.924.435.144.564.215.065.816.91

CNO Key Ratios

CNO Financial Group, Inc. (CNO) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Combined Ratio91.15%88.83%106.14%93.17%90.99%82.22%77.17%91.4%88.34%93.46%
Medical Cost Ratio70.88%68.76%86.55%69.29%66.42%58.77%49.95%63.04%61.71%55.21%
Return on Equity (ROE)8.31%3.76%-7.67%10.17%5.94%10.62%17.94%13.88%17.08%8.9%
Return on Assets (ROA)1.14%0.54%-0.98%1.26%0.88%1.59%1.82%0.81%1.11%0.6%
Equity / Assets14.03%14.64%10.72%13.91%15.52%14.53%5.34%6.33%6.65%6.8%
Book Value / Share25.1628.1620.3729.7638.3140.1115.0319.2523.2626.99
Debt / Equity0.94x0.82x1.18x0.81x0.72x0.76x2.20x1.87x1.80x1.54x
Revenue Growth5.05%7.74%0.28%-6.9%-4.85%7.88%-13.23%15.94%7.21%0.94%

CNO SEC Filings & Documents

CNO Financial Group, Inc. (CNO) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 30, 2026·SEC

Material company update

Feb 11, 2026·SEC

Material company update

Feb 5, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 26, 2025·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FY 2025

May 7, 2025·SEC

CNO Frequently Asked Questions

CNO Financial Group, Inc. (CNO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

CNO Financial Group, Inc. (CNO) grew revenue by 0.9% over the past year. Growth has been modest.

Yes, CNO Financial Group, Inc. (CNO) is profitable, generating $221.5M in net income for fiscal year 2025 (5.1% net margin).

Dividend & Returns

Yes, CNO Financial Group, Inc. (CNO) pays a dividend with a yield of 1.48%. This makes it attractive for income-focused investors.

CNO Financial Group, Inc. (CNO) has a return on equity (ROE) of 8.9%. This is below average, suggesting room for improvement.

Industry Metrics

CNO Financial Group, Inc. (CNO) has a combined ratio of 93.5%. A ratio below 100% indicates underwriting profitability.

Explore More CNO

CNO Financial Group, Inc. (CNO) financial analysis — history, returns, DCA and operating performance tools

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

→

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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