CNA Financial Corporation (CNA) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Insurance - Property & Casualty
EV/EBITDA
↓
8.46
↓-25% vs avg
5yr avg: 11.31
30Y Low0.5·High46.2
P/FCF
↓
4.89
-9% vs avg
5yr avg: 5.36
30Y Low3.0·High16.0
P/B Ratio
↑
1.02
↓-13% vs avg
5yr avg: 1.16
30Y Low0.6·High1.3
ROE
↑
11.5%
↓+16% vs avg
5yr avg: 9.9%
30Y Low-17%·High14%
Debt/EBITDA
↓
1.76
↓-25% vs avg
5yr avg: 2.36
30Y Low0.2·High7.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CNA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
CNA Financial Corporation trades at 9.3x earnings, 23% below its 5-year average of 12.1x, sitting at the 8th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a discount of 31%. On a free-cash-flow basis, the stock trades at 4.9x P/FCF, 9% below the 5-year average of 5.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.7B | $13.0B | $13.2B | $11.5B | $11.5B | $12.0B | $10.6B | $12.2B | $12.0B | $14.4B | $11.3B |
| Enterprise Value | $14.3B | $15.5B | $15.9B | $14.4B | $14.0B | $14.5B | $13.3B | $15.0B | $14.4B | $16.9B | $13.7B |
| P/E Ratio → | 9.26 | 10.18 | 13.74 | 9.55 | 16.91 | 10.00 | 15.40 | 17.71 | 14.82 | 16.08 | 13.09 |
| P/S Ratio | 0.80 | 0.88 | 0.94 | 0.88 | 0.97 | 1.04 | 0.99 | 1.13 | 1.19 | 1.51 | 1.20 |
| P/B Ratio | 1.02 | 1.12 | 1.25 | 1.16 | 1.35 | 0.94 | 0.84 | 1.00 | 1.07 | 1.18 | 0.94 |
| P/FCF | 4.89 | 5.41 | 5.33 | 5.25 | 4.70 | 6.10 | 6.07 | 6.97 | 10.67 | 12.53 | 8.86 |
| P/OCF | 4.72 | 5.22 | 5.13 | 5.04 | 4.60 | 6.02 | 5.99 | 6.88 | 9.81 | 11.51 | 7.95 |
P/E links to full P/E history page with 30-year chart
CNA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
CNA Financial Corporation's enterprise value stands at 8.5x EBITDA, 25% below its 5-year average of 11.3x. The Financial Services sector median is 11.4x, placing the stock at a 26% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.06 | 1.14 | 1.10 | 1.18 | 1.26 | 1.25 | 1.39 | 1.42 | 1.78 | 1.46 |
| EV / EBITDA | 8.46 | 9.20 | 12.47 | 9.06 | 16.24 | 9.58 | 15.12 | 11.63 | 13.81 | 12.12 | 11.28 |
| EV / EBIT | 8.82 | 8.86 | 11.85 | 8.76 | 15.17 | 9.22 | 14.13 | 11.09 | 13.07 | 11.51 | 10.56 |
| EV / FCF | — | 6.47 | 6.43 | 6.57 | 5.73 | 7.36 | 7.60 | 8.57 | 12.77 | 14.70 | 10.78 |
CNA Profitability
Margins and return-on-capital ratios measuring operating efficiency
CNA Financial Corporation earns an operating margin of 11.0%, below the Financial Services sector average of 21.2%. ROE of 11.5% is modest. ROIC of 8.9% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.7% | 30.7% | 31.9% | 33.6% | 31.5% | 32.3% | 29.1% | 33.2% | 31.8% | 31.4% | 30.4% |
| Operating Margin | 11.0% | 11.0% | 8.7% | 11.6% | 6.8% | 12.7% | 7.7% | 11.4% | 9.5% | 13.7% | 12.1% |
| Net Profit Margin | 8.7% | 8.7% | 6.9% | 9.2% | 5.7% | 10.3% | 6.5% | 9.3% | 8.0% | 9.4% | 9.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.5% | 11.5% | 9.4% | 13.1% | 6.4% | 9.3% | 5.5% | 8.5% | 6.9% | 7.4% | 7.2% |
| ROA | 2.0% | 2.0% | 1.6% | 2.1% | 1.2% | 1.9% | 1.2% | 1.8% | 1.5% | 1.7% | 1.7% |
| ROIC | 8.9% | 8.9% | 7.0% | 9.5% | 4.6% | 7.1% | 4.0% | 6.4% | 5.1% | 6.7% | 6.0% |
| ROCE | 6.1% | 6.1% | 2.0% | 2.6% | 1.4% | 2.4% | 1.4% | 2.2% | 1.8% | 2.5% | 2.2% |
CNA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
CNA Financial Corporation carries a Debt/EBITDA ratio of 1.8x, which is manageable (57% below the sector average of 4.1x). Net debt stands at $2.5B ($3.0B total debt minus $425M cash). Interest coverage of 13.0x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.26 | 0.26 | 0.31 | 0.33 | 0.35 | 0.24 | 0.24 | 0.25 | 0.24 | 0.23 | 0.23 |
| Debt / EBITDA | 1.76 | 1.76 | 2.51 | 2.04 | 3.47 | 2.00 | 3.53 | 2.36 | 2.57 | 2.04 | 2.23 |
| Net Debt / Equity | — | 0.22 | 0.26 | 0.29 | 0.30 | 0.19 | 0.21 | 0.23 | 0.21 | 0.20 | 0.20 |
| Net Debt / EBITDA | 1.51 | 1.51 | 2.14 | 1.82 | 2.92 | 1.64 | 3.06 | 2.17 | 2.27 | 1.79 | 2.01 |
| Debt / FCF | — | 1.06 | 1.11 | 1.32 | 1.03 | 1.26 | 1.54 | 1.60 | 2.10 | 2.17 | 1.92 |
| Interest Coverage | 13.00 | 13.00 | 10.11 | 12.95 | 8.27 | 13.94 | 7.73 | 10.34 | 7.99 | 9.14 | 8.15 |
CNA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.38x is below 1.0, meaning current liabilities exceed current assets.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.38 | 0.38 | — | — | — | — | — | — | — | — | — |
| Quick Ratio | 0.38 | 0.38 | — | — | — | — | — | — | — | — | — |
| Cash Ratio | 0.11 | 0.11 | — | — | — | — | — | — | — | — | — |
| Asset Turnover | — | 0.21 | 0.23 | 0.22 | 0.21 | 0.19 | 0.18 | 0.19 | 0.19 | 0.18 | 0.18 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CNA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
CNA Financial Corporation returns 9.1% to shareholders annually — split between a 8.9% dividend yield and 0.3% buyback yield. The payout ratio of 81.9% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 10.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 8.9% | 8.1% | 7.8% | 6.8% | 8.5% | 5.2% | 8.9% | 7.6% | 7.4% | 5.8% | 7.2% |
| Payout Ratio | 81.9% | 81.9% | 106.9% | 65.3% | 144.0% | 52.4% | 137.7% | 92.9% | 110.2% | 93.7% | 94.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.8% | 9.8% | 7.3% | 10.5% | 5.9% | 10.0% | 6.5% | 5.6% | 6.7% | 6.2% | 7.6% |
| FCF Yield | 20.5% | 18.5% | 18.8% | 19.1% | 21.3% | 16.4% | 16.5% | 14.4% | 9.4% | 8.0% | 11.3% |
| Buyback Yield | 0.3% | 0.3% | 0.2% | 0.2% | 0.3% | 0.1% | 0.2% | 0.2% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 9.1% | 8.3% | 7.9% | 7.0% | 8.9% | 5.3% | 9.1% | 7.8% | 7.4% | 5.8% | 7.2% |
| Shares Outstanding | — | $272M | $273M | $272M | $273M | $273M | $273M | $272M | $273M | $272M | $271M |
Peer Comparison
Compare CNA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CNAYou | $12B | 9.3 | 8.5 | 4.9 | 30.7% | 11.0% | 11.5% | 8.9% | 1.8 |
 TRV | $65B | 11.0 | 8.7 | — | 44.3% | 16.0% | 20.7% | 15.3% | 1.1 |
 HIG | $37B | 10.0 | 7.9 | 6.4 | 46.1% | 16.8% | 21.7% | 16.3% | 0.8 |
 CB | $126B | 12.5 | 10.9 | 8.6 | 29.4% | 21.8% | 13.9% | 10.8% | 1.7 |
 WRB | $25B | 14.9 | 10.9 | 7.1 | 19.8% | 15.9% | 19.6% | 18.2% | 1.2 |
 MKL | $22B | 10.6 | 7.7 | 8.7 | 69.4% | 16.5% | 11.5% | 10.7% | 1.5 |
 CINF | $25B | 10.6 | 7.8 | 8.1 | 50.1% | 23.6% | 16.0% | 15.3% | 0.3 |
 AIG | $42B | 14.3 | 6.8 | 12.6 | 34.5% | 14.5% | 7.4% | 5.9% | 1.3 |
 ACGL | $34B | 8.1 | 6.9 | 5.5 | 37.2% | 25.0% | 19.5% | 15.4% | 0.5 |
 RNR | $13B | 5.3 | 3.4 | 3.5 | 40.7% | 31.5% | 14.6% | 16.0% | 0.6 |
 SKWD | $2B | 10.8 | 8.7 | 4.9 | 44.0% | 15.3% | 18.9% | 18.5% | 0.5 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonCNA — Frequently Asked Questions
Quick answers to the most common questions about buying CNA stock.
What is CNA Financial Corporation's P/E ratio?
CNA Financial Corporation's current P/E ratio is 9.3x. The historical average is 16.5x. This places it at the 8th percentile of its historical range.
What is CNA Financial Corporation's EV/EBITDA?
CNA Financial Corporation's current EV/EBITDA is 8.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.7x.
What is CNA Financial Corporation's ROE?
CNA Financial Corporation's return on equity (ROE) is 11.5%. The historical average is 5.2%.
Is CNA stock overvalued?
Based on historical data, CNA Financial Corporation is trading at a P/E of 9.3x. This is at the 8th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is CNA Financial Corporation's dividend yield?
CNA Financial Corporation's current dividend yield is 8.85% with a payout ratio of 81.9%.
What are CNA Financial Corporation's profit margins?
CNA Financial Corporation has 30.7% gross margin and 11.0% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does CNA Financial Corporation have?
CNA Financial Corporation's Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.