Cannae Holdings, Inc. (CNNE) 10-Year Financial Performance & Capital Metrics

CNNE • • Industrial / General

Consumer CyclicalRestaurantsMulti-Brand FranchisorsMulti-Concept Operators

AboutCannae Holdings, Inc. is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc. is based in Las Vegas, Nevada.Show more

Revenue $453M -20.6%
EBITDA -$76M +5.8%
Net Income -$305M +2.8%
EPS (Diluted) -4.73 -10.8%
Gross Margin 0.64% -91.5%
EBITDA Margin -16.77% -18.6%
Operating Margin -22.92% -9.9%
Net Margin -67.31% -22.4%
ROE -14.77% -18.4%
ROIC -3.46% -1.8%
Debt/Equity 0.18 +53.3%
Interest Coverage -8.94 -34.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 2.1%
✓Share count reduced 12.3% through buybacks
✓Healthy 5Y average net margin of 15.9%
✓Trading at only 0.6x book value

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Sales declining 15.8% over 5 years
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-15.81%

3Y-15.21%

TTM-6.86%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-44.23%

EPS CAGR

10Y-

5Y-

3Y-

TTM-60.71%

ROCE

10Y Avg-4.8%

5Y Avg-4.46%

3Y Avg-4.34%

Latest-4.45%

Peer Comparison

Multi-Concept Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
YUMYum! Brands, Inc.	44.72B	161.05	30.85	6.68%	18.11%		3.2%
QSRRestaurant Brands International Inc.	24.02B	69.53	21.86	19.71%	9.95%	17.85%	5.42%	3.29
YUMCYum China Holdings, Inc.	17.07B	48.19	20.59	2.96%	7.81%	14.16%	4.18%	0.37
FATFAT Brands Inc.	6.92M	0.42	-0.04	23.35%	-36.77%
CNNECannae Holdings, Inc.	838.04M	16.21	-3.43	-20.61%	-108.39%	-39.43%		0.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.41B	1.18B	1.17B	1.21B	1.07B	585.7M	742.2M	662.1M	570M	452.5M
Revenue Growth %	-	-0.17%	-0.01%	0.03%	-0.11%	-0.45%	0.27%	-0.11%	-0.14%	-0.21%
Cost of Goods Sold+	1.28B	1.05B	1.09B	1.16B	1B	619.1M	697.5M	630.9M	527M	449.6M
COGS % of Revenue	0.91%	0.89%	0.94%	0.96%	0.94%	1.06%	0.94%	0.95%	0.92%	0.99%
Gross Profit+	134.1M	126M	75.3M	43.8M	66.9M	-33.4M	44.7M	31.2M	43M	2.9M
Gross Margin %	0.09%	0.11%	0.06%	0.04%	0.06%	-0.06%	0.06%	0.05%	0.08%	0.01%
Gross Profit Growth %	-	-0.06%	-0.4%	-0.42%	0.53%	-1.5%	2.34%	-0.3%	0.38%	-0.93%
Operating Expenses+	146.2M	128.2M	153.7M	166.9M	174.1M	155.1M	178.2M	175.8M	161.9M	106.6M
OpEx % of Revenue	0.1%	0.11%	0.13%	0.14%	0.16%	0.26%	0.24%	0.27%	0.28%	0.24%
Selling, General & Admin	85.4M	151.8M	103.2M	215.1M	109.7M	0	231.1M	212.5M	17.5M	0
SG&A % of Revenue	0.06%	0.13%	0.09%	0.18%	0.1%	-	0.31%	0.32%	0.03%	-
Research & Development	31.1M	0	0	0	0	0	0	0	0	0
R&D % of Revenue	0.02%	-	-	-	-	-	-	-	-	-
Other Operating Expenses	11.8M	9.3M	4.9M	166.8M	64.4M	155.1M	-52.9M	-36.7M	144.4M	106.6M
Operating Income+	-12.1M	-2.2M	-78.4M	-149.8M	-107.2M	-188.5M	-133.5M	-144.6M	-118.9M	-103.7M
Operating Margin %	-0.01%	-0%	-0.07%	-0.12%	-0.1%	-0.32%	-0.18%	-0.22%	-0.21%	-0.23%
Operating Income Growth %	-	0.82%	-34.64%	-0.91%	0.28%	-0.76%	0.29%	-0.08%	0.18%	0.13%
EBITDA+	53.4M	42.5M	-29.1M	-103.5M	-27.7M	-132.7M	-84.3M	-100M	-80.6M	-75.9M
EBITDA Margin %	0.04%	0.04%	-0.02%	-0.09%	-0.03%	-0.23%	-0.11%	-0.15%	-0.14%	-0.17%
EBITDA Growth %	-	-0.2%	-1.68%	-2.56%	0.73%	-3.79%	0.36%	-0.19%	0.19%	0.06%
D&A (Non-Cash Add-back)	65.5M	44.7M	49.3M	46.3M	79.5M	55.8M	49.2M	44.6M	38.3M	27.8M
EBIT	1.7M	10.4M	-67.3M	27.3M	255.7M	2.19B	-423.2M	-323.3M	-189.2M	-252.3M
Net Interest Income+	-3.5M	-1.9M	-1.7M	1.6M	-2.2M	8.2M	11.3M	-9.8M	-4.3M	-7M
Interest Income	2M	3.3M	5.3M	6.3M	15.6M	17.2M	21.1M	2.5M	13.6M	4.6M
Interest Expense	5.5M	5.2M	7M	4.7M	17.8M	9M	9.8M	12.3M	17.9M	11.6M
Other Income/Expense	8.3M	7.4M	3.2M	152.3M	139.3M	2.43B	-226.9M	-374.9M	-282.2M	-206.8M
Pretax Income+	-3.8M	5.2M	-75.2M	18.6M	237.9M	2.24B	-360.4M	-519.5M	-401.1M	-310.5M
Pretax Margin %	-0%	0%	-0.06%	0.02%	0.22%	3.83%	-0.49%	-0.78%	-0.7%	-0.69%
Income Tax+	-19.7M	-10.4M	-16.6M	13.1M	24.2M	481.2M	-74M	-89.9M	-77M	-400K
Effective Tax Rate %	6.03%	-2.38%	-1.45%	1.48%	0.2%	0.8%	0.8%	0.82%	0.78%	0.98%
Net Income+	-22.9M	-12.4M	108.8M	27.6M	46.8M	1.79B	-287M	-428.1M	-313.4M	-304.6M
Net Margin %	-0.02%	-0.01%	0.09%	0.02%	0.04%	3.05%	-0.39%	-0.65%	-0.55%	-0.67%
Net Income Growth %	-	0.46%	9.77%	-0.75%	0.7%	37.17%	-1.16%	-0.49%	0.27%	0.03%
Net Income (Continuing)	18.7M	-13.9M	-58.6M	-8.5M	98.6M	1.76B	-286.4M	-429.6M	-324.1M	-310.1M
Discontinued Operations	0	0	149.2M	-2.1M	-51.8M	0	0	0	0	0
Minority Interest	113.6M	116.3M	93.7M	75.1M	41.3M	5.6M	5.8M	-3.9M	-15.3M	-21.2M
EPS (Diluted)+	-0.32	-0.17	1.54	0.39	2.95	20.79	-3.19	-5.25	-4.27	-4.73
EPS Growth %	-	0.47%	10.06%	-0.75%	6.56%	6.05%	-1.15%	-0.65%	0.19%	-0.11%
EPS (Basic)	-0.32	-0.18	1.54	0.39	2.96	20.84	-3.19	-5.25	-4.27	-4.73
Diluted Shares Outstanding	70.86M	70.86M	70.6M	71.3M	72.4M	85.9M	90.1M	81.6M	73.4M	64.4M
Basic Shares Outstanding	70.57M	70.6M	70.6M	71.2M	72.2M	85.7M	90.1M	81.6M	73.4M	64.4M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	386.9M	272.6M	350.2M	455.7M	630.9M	844.2M	121.6M	310.6M	177.3M	196.9M
Cash & Short-Term Investments	310.6M	193.5M	263.3M	323M	533.7M	759.9M	85.8M	282.6M	121.8M	137.7M
Cash Only	275.1M	141.7M	245.6M	323M	533.7M	724.7M	85.8M	247.7M	106.2M	131.5M
Short-Term Investments	35.5M	51.8M	17.7M	0	0	35.2M	0	34.9M	15.6M	6.2M
Accounts Receivable	35.6M	24.7M	35.8M	30.4M	16M	17.6M	0	1.9M	26M	35.7M
Days Sales Outstanding	9.19	7.65	11.17	9.21	5.46	10.97	-	1.05	16.65	28.8
Inventory	23.6M	23.9M	29.7M	22.3M	16.3M	0	0	0	0	0
Days Inventory Outstanding	6.73	8.29	9.91	7.01	5.93	-	-	-	-	-
Other Current Assets	0	21.8M	0	39.1M	500K	66.7M	35.8M	26.1M	29.5M	23.5M
Total Non-Current Assets+	1.09B	1.2B	1.14B	1B	1.46B	3.77B	3.77B	2.81B	2.51B	2.03B
Property, Plant & Equipment	227.3M	235M	218.8M	176.4M	355.5M	348.1M	272.6M	243.5M	202.2M	197.8M
Fixed Asset Turnover	6.22x	5.01x	5.35x	6.83x	3.01x	1.68x	2.72x	2.72x	2.82x	2.29x
Goodwill	188.4M	103.1M	202.7M	164.9M	66.1M	53.4M	53.4M	53.4M	53.4M	53.4M
Intangible Assets	177M	111.8M	214.5M	175.8M	63.1M	51.8M	26.9M	23.5M	16.8M	15.1M
Long-Term Investments	396M	475.8M	424.9M	397.2M	836.5M	3.32B	3.31B	2.34B	2.01B	1.51B
Other Non-Current Assets	65.9M	241.9M	65.5M	73.3M	85.6M	1.52B	108.7M	136.2M	145.3M	178.8M
Total Assets+	1.47B	1.47B	1.49B	1.46B	2.09B	4.61B	3.89B	3.13B	2.69B	2.23B
Asset Turnover	0.96x	0.80x	0.79x	0.83x	0.51x	0.13x	0.19x	0.21x	0.21x	0.20x
Asset Growth %	-	0%	0.01%	-0.02%	0.43%	1.21%	-0.16%	-0.2%	-0.14%	-0.17%
Total Current Liabilities+	159.7M	159.5M	249.8M	160.3M	198.7M	202M	179.5M	122.7M	107.5M	146.5M
Accounts Payable	127.7M	24.7M	20.3M	23M	19.6M	25.7M	22.7M	25.8M	27M	16.6M
Days Payables Outstanding	36.4	8.57	6.77	7.23	7.13	15.15	11.88	14.93	18.7	13.48
Short-Term Debt	8.8M	11.4M	122.2M	5.9M	7M	11.3M	2.3M	2.3M	2.5M	61M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	78.3M	0	108.3M	0	47.4M	0	0	0	0
Current Ratio	2.42x	1.71x	1.40x	2.84x	3.18x	4.18x	0.68x	2.53x	1.65x	1.34x
Quick Ratio	2.27x	1.56x	1.28x	2.70x	3.09x	4.18x	0.68x	2.53x	1.65x	1.34x
Cash Conversion Cycle	-20.49	7.37	14.31	8.99	4.26	-	-	-	-	-
Total Non-Current Liabilities+	253.3M	304M	84.3M	99.9M	363.7M	626.2M	369M	287.9M	270M	267.1M
Long-Term Debt	191.1M	93.3M	12.7M	42.2M	120.1M	52.2M	14.1M	95.1M	102.5M	120M
Capital Lease Obligations	0	30M	0	0	199.7M	195.6M	195.6M	179.8M	155.3M	135M
Deferred Tax Liabilities	0	0	-9.1M	-200K	0	325.3M	143.8M	0	0	0
Other Non-Current Liabilities	62.2M	180.7M	62.5M	57.4M	43.9M	53.1M	15.5M	13M	12.2M	12.1M
Total Liabilities	413M	463.5M	334.1M	260.2M	562.4M	828.2M	548.5M	410.6M	377.5M	413.6M
Total Debt+	199.9M	134.7M	134.9M	48.1M	368.3M	285.3M	235.8M	300M	274.2M	330.5M
Net Debt	-75.2M	-7M	-110.7M	-274.9M	-165.4M	-439.4M	150M	52.3M	168M	199M
Debt / Equity	0.19x	0.13x	0.12x	0.04x	0.24x	0.08x	0.07x	0.11x	0.12x	0.18x
Debt / EBITDA	3.74x	3.17x	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-1.41x	-0.16x	-	-	-	-	-	-	-	-
Interest Coverage	-2.20x	-0.42x	-11.20x	-31.87x	-6.02x	-20.94x	-13.62x	-11.76x	-6.64x	-8.94x
Total Equity+	1.06B	1.01B	1.15B	1.2B	1.53B	3.79B	3.34B	2.71B	2.31B	1.82B
Equity Growth %	-	-0.05%	0.14%	0.04%	0.27%	1.47%	-0.12%	-0.19%	-0.15%	-0.21%
Book Value per Share	14.95	14.25	16.33	16.83	21.13	44.07	37.08	33.27	31.46	28.19
Total Shareholders' Equity	945.5M	893.5M	1.06B	1.12B	1.49B	3.78B	3.34B	2.72B	2.32B	1.84B
Common Stock	1.02B	961.6M	0	0	0	0	0	0	0	0
Retained Earnings	-3M	0	200K	46.1M	143.6M	1.93B	1.64B	1.21B	901.3M	567.1M
Treasury Stock	-108M	0	0	-200K	-5.9M	-21.1M	-188.6M	-414M	-533.9M	-724.7M
Accumulated OCI	-75.5M	-68.1M	-71M	-67.2M	-45.9M	-4.9M	-7.2M	-18.1M	-19.9M	-19.2M
Minority Interest	113.6M	116.3M	93.7M	75.1M	41.3M	5.6M	5.8M	-3.9M	-15.3M	-21.2M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	11.1M	60.3M	-90.7M	-22.9M	-84.2M	-113.9M	-176.1M	-205.1M	-87.8M	-90.1M
Operating CF Margin %	0.01%	0.05%	-0.08%	-0.02%	-0.08%	-0.19%	-0.24%	-0.31%	-0.15%	-0.2%
Operating CF Growth %	-	4.43%	-2.5%	0.75%	-2.68%	-0.35%	-0.55%	-0.16%	0.57%	-0.03%
Net Income	-7.3M	-11.9M	92.5M	-10.6M	46.8M	1.79B	-286.4M	-429.6M	-313.4M	-310.1M
Depreciation & Amortization	65.5M	62.9M	58.1M	61.3M	93.3M	55.8M	49M	44.6M	38.3M	27.8M
Stock-Based Compensation	1.4M	1.2M	500K	21.8M	4.6M	4.2M	2.4M	1.5M	3.5M	19M
Deferred Taxes	44.5M	32.8M	-269.5M	72.7M	214.3M	0	-48.9M	0	0	0
Other Non-Cash Items	-11.8M	-9.3M	-4.9M	-182.7M	-354.1M	-1.9B	309.2M	414.3M	314.4M	205.3M
Working Capital Changes	-81.2M	-15.4M	32.6M	14.6M	-89.1M	-59.7M	-201.4M	-235.9M	-130.6M	-32.1M
Change in Receivables	-1.6M	-4.2M	-1.2M	-7.3M	18.2M	0	0	0	0	0
Change in Inventory	11.2M	11.8M	-12.2M	9.5M	-36.2M	0	0	0	0	0
Change in Payables	-23.5M	-7.6M	15M	900K	8.4M	0	-1.2M	-36.7M	-19.4M	-19.4M
Cash from Investing+	273.1M	-168.2M	91.7M	186.7M	-24.2M	-74.2M	-272.4M	521.2M	53.1M	298.3M
Capital Expenditures	-60.5M	-55.2M	-40.1M	-15.9M	-28.3M	-22.3M	-13.7M	-14.3M	-10M	0
CapEx % of Revenue	0.04%	0.05%	0.03%	0.01%	0.03%	0.04%	0.02%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4.5M	41.7M	2.5M	5.4M	25.4M	-60.5M	-13.2M	18M	52.7M	472.6M
Cash from Financing+	-212.5M	-20.8M	98.2M	-86.4M	319.1M	379.1M	-190.4M	-154.2M	-106.8M	-182.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	-22.4M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-344.5M	-45.4M	13.8M	-120.1M	248.3M	349.1M	-200K	-8.1M	-59.1M	-29.2M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-49.4M	5.1M	-130.8M	-38.8M	-112.5M	-136.2M	-189.8M	-219.4M	-97.8M	-97.1M
FCF Margin %	-0.03%	0%	-0.11%	-0.03%	-0.11%	-0.23%	-0.26%	-0.33%	-0.17%	-0.21%
FCF Growth %	-	1.1%	-26.65%	0.7%	-1.9%	-0.21%	-0.39%	-0.16%	0.55%	0.01%
FCF per Share	-0.70	0.07	-1.85	-0.54	-1.55	-1.59	-2.11	-2.69	-1.33	-1.51
FCF Conversion (FCF/Net Income)	-0.48x	-4.86x	-0.83x	-0.83x	-1.80x	-0.06x	0.61x	0.48x	0.28x	0.30x
Interest Paid	0	0	0	0	0	5.5M	7M	9.6M	13.6M	6.3M
Taxes Paid	0	0	0	0	0	0	128.9M	100M	4.6M	900K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.16%	-1.2%	10.06%	2.35%	3.43%	67.21%	-8.05%	-14.14%	-12.48%	-14.77%
Return on Invested Capital (ROIC)	-0.92%	-0.17%	-5.75%	-11.42%	-7.02%	-6%	-2.93%	-3.47%	-3.4%	-3.46%
Gross Margin	9.48%	10.69%	6.44%	3.63%	6.25%	-5.7%	6.02%	4.71%	7.54%	0.64%
Net Margin	-1.62%	-1.05%	9.3%	2.29%	4.37%	304.97%	-38.67%	-64.66%	-54.98%	-67.31%
Debt / Equity	0.19x	0.13x	0.12x	0.04x	0.24x	0.08x	0.07x	0.11x	0.12x	0.18x
Interest Coverage	-2.20x	-0.42x	-11.20x	-31.87x	-6.02x	-20.94x	-13.62x	-11.76x	-6.64x	-8.94x
FCF Conversion	-0.48x	-4.86x	-0.83x	-0.83x	-1.80x	-0.06x	0.61x	0.48x	0.28x	0.30x
Revenue Growth	-	-16.7%	-0.76%	3.07%	-11.23%	-45.26%	26.72%	-10.79%	-13.91%	-20.61%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Restaurant Sales	-	-	-	-	704.7M	630.6M	536M	419.6M
Restaurant Sales Growth	-	-	-	-	-	-10.52%	-15.00%	-21.72%
Total Other Operating Revenue	-	87.6M	26.7M	26M	-	-	-	-
Total Other Operating Revenue Growth	-	-	-69.52%	-2.62%	-	-	-	-
Restaurant Group	1.13B	-	-	-	-	-	-	-
Restaurant Group Growth	-	-	-	-	-	-	-	-
Ceridian	751.7M	-	-	-	-	-	-	-
Ceridian Growth	-	-	-	-	-	-	-	-
Corporate and Other	37.8M	-	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-	-	-	-	-
T-System	12.9M	-	-	-	-	-	-	-
T-System Growth	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Cannae Holdings, Inc. (CNNE) reported $430.2M in revenue for fiscal year 2024. This represents a 70% decrease from $1.41B in 2015.

Cannae Holdings, Inc. (CNNE) saw revenue decline by 20.6% over the past year.

Cannae Holdings, Inc. (CNNE) reported a net loss of $466.3M for fiscal year 2024.

Dividend & Returns

Yes, Cannae Holdings, Inc. (CNNE) pays a dividend with a yield of 2.15%. This makes it attractive for income-focused investors.

Cannae Holdings, Inc. (CNNE) has a return on equity (ROE) of -14.8%. Negative ROE indicates the company is unprofitable.

Cannae Holdings, Inc. (CNNE) had negative free cash flow of $49.4M in fiscal year 2024, likely due to heavy capital investments.

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Cannae Holdings, Inc. (CNNE) 10-Year Financial Performance & Capital Metrics

CNNE • • Industrial / General

Consumer CyclicalRestaurantsMulti-Brand FranchisorsMulti-Concept Operators

Revenue $453M -20.6%
EBITDA -$76M +5.8%
Net Income -$305M +2.8%
EPS (Diluted) -4.73 -10.8%
Gross Margin 0.64% -91.5%
EBITDA Margin -16.77% -18.6%
Operating Margin -22.92% -9.9%
Net Margin -67.31% -22.4%
ROE -14.77% -18.4%
ROIC -3.46% -1.8%
Debt/Equity 0.18 +53.3%
Interest Coverage -8.94 -34.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Healthy dividend yield of 2.1%
✓Share count reduced 12.3% through buybacks
✓Healthy 5Y average net margin of 15.9%
✓Trading at only 0.6x book value

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Sales declining 15.8% over 5 years
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-15.81%

3Y-15.21%

TTM-6.86%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-44.23%

EPS CAGR

10Y-

5Y-

3Y-

TTM-60.71%

ROCE

10Y Avg-4.8%

5Y Avg-4.46%

3Y Avg-4.34%

Latest-4.45%

Peer Comparison

Multi-Concept Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
YUMYum! Brands, Inc.	44.72B	161.05	30.85	6.68%	18.11%		3.2%
QSRRestaurant Brands International Inc.	24.02B	69.53	21.86	19.71%	9.95%	17.85%	5.42%	3.29
YUMCYum China Holdings, Inc.	17.07B	48.19	20.59	2.96%	7.81%	14.16%	4.18%	0.37
FATFAT Brands Inc.	6.92M	0.42	-0.04	23.35%	-36.77%
CNNECannae Holdings, Inc.	838.04M	16.21	-3.43	-20.61%	-108.39%	-39.43%		0.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.41B	1.18B	1.17B	1.21B	1.07B	585.7M	742.2M	662.1M	570M	452.5M
Revenue Growth %	-	-0.17%	-0.01%	0.03%	-0.11%	-0.45%	0.27%	-0.11%	-0.14%	-0.21%
Cost of Goods Sold+	1.28B	1.05B	1.09B	1.16B	1B	619.1M	697.5M	630.9M	527M	449.6M
COGS % of Revenue	0.91%	0.89%	0.94%	0.96%	0.94%	1.06%	0.94%	0.95%	0.92%	0.99%
Gross Profit+	134.1M	126M	75.3M	43.8M	66.9M	-33.4M	44.7M	31.2M	43M	2.9M
Gross Margin %	0.09%	0.11%	0.06%	0.04%	0.06%	-0.06%	0.06%	0.05%	0.08%	0.01%
Gross Profit Growth %	-	-0.06%	-0.4%	-0.42%	0.53%	-1.5%	2.34%	-0.3%	0.38%	-0.93%
Operating Expenses+	146.2M	128.2M	153.7M	166.9M	174.1M	155.1M	178.2M	175.8M	161.9M	106.6M
OpEx % of Revenue	0.1%	0.11%	0.13%	0.14%	0.16%	0.26%	0.24%	0.27%	0.28%	0.24%
Selling, General & Admin	85.4M	151.8M	103.2M	215.1M	109.7M	0	231.1M	212.5M	17.5M	0
SG&A % of Revenue	0.06%	0.13%	0.09%	0.18%	0.1%	-	0.31%	0.32%	0.03%	-
Research & Development	31.1M	0	0	0	0	0	0	0	0	0
R&D % of Revenue	0.02%	-	-	-	-	-	-	-	-	-
Other Operating Expenses	11.8M	9.3M	4.9M	166.8M	64.4M	155.1M	-52.9M	-36.7M	144.4M	106.6M
Operating Income+	-12.1M	-2.2M	-78.4M	-149.8M	-107.2M	-188.5M	-133.5M	-144.6M	-118.9M	-103.7M
Operating Margin %	-0.01%	-0%	-0.07%	-0.12%	-0.1%	-0.32%	-0.18%	-0.22%	-0.21%	-0.23%
Operating Income Growth %	-	0.82%	-34.64%	-0.91%	0.28%	-0.76%	0.29%	-0.08%	0.18%	0.13%
EBITDA+	53.4M	42.5M	-29.1M	-103.5M	-27.7M	-132.7M	-84.3M	-100M	-80.6M	-75.9M
EBITDA Margin %	0.04%	0.04%	-0.02%	-0.09%	-0.03%	-0.23%	-0.11%	-0.15%	-0.14%	-0.17%
EBITDA Growth %	-	-0.2%	-1.68%	-2.56%	0.73%	-3.79%	0.36%	-0.19%	0.19%	0.06%
D&A (Non-Cash Add-back)	65.5M	44.7M	49.3M	46.3M	79.5M	55.8M	49.2M	44.6M	38.3M	27.8M
EBIT	1.7M	10.4M	-67.3M	27.3M	255.7M	2.19B	-423.2M	-323.3M	-189.2M	-252.3M
Net Interest Income+	-3.5M	-1.9M	-1.7M	1.6M	-2.2M	8.2M	11.3M	-9.8M	-4.3M	-7M
Interest Income	2M	3.3M	5.3M	6.3M	15.6M	17.2M	21.1M	2.5M	13.6M	4.6M
Interest Expense	5.5M	5.2M	7M	4.7M	17.8M	9M	9.8M	12.3M	17.9M	11.6M
Other Income/Expense	8.3M	7.4M	3.2M	152.3M	139.3M	2.43B	-226.9M	-374.9M	-282.2M	-206.8M
Pretax Income+	-3.8M	5.2M	-75.2M	18.6M	237.9M	2.24B	-360.4M	-519.5M	-401.1M	-310.5M
Pretax Margin %	-0%	0%	-0.06%	0.02%	0.22%	3.83%	-0.49%	-0.78%	-0.7%	-0.69%
Income Tax+	-19.7M	-10.4M	-16.6M	13.1M	24.2M	481.2M	-74M	-89.9M	-77M	-400K
Effective Tax Rate %	6.03%	-2.38%	-1.45%	1.48%	0.2%	0.8%	0.8%	0.82%	0.78%	0.98%
Net Income+	-22.9M	-12.4M	108.8M	27.6M	46.8M	1.79B	-287M	-428.1M	-313.4M	-304.6M
Net Margin %	-0.02%	-0.01%	0.09%	0.02%	0.04%	3.05%	-0.39%	-0.65%	-0.55%	-0.67%
Net Income Growth %	-	0.46%	9.77%	-0.75%	0.7%	37.17%	-1.16%	-0.49%	0.27%	0.03%
Net Income (Continuing)	18.7M	-13.9M	-58.6M	-8.5M	98.6M	1.76B	-286.4M	-429.6M	-324.1M	-310.1M
Discontinued Operations	0	0	149.2M	-2.1M	-51.8M	0	0	0	0	0
Minority Interest	113.6M	116.3M	93.7M	75.1M	41.3M	5.6M	5.8M	-3.9M	-15.3M	-21.2M
EPS (Diluted)+	-0.32	-0.17	1.54	0.39	2.95	20.79	-3.19	-5.25	-4.27	-4.73
EPS Growth %	-	0.47%	10.06%	-0.75%	6.56%	6.05%	-1.15%	-0.65%	0.19%	-0.11%
EPS (Basic)	-0.32	-0.18	1.54	0.39	2.96	20.84	-3.19	-5.25	-4.27	-4.73
Diluted Shares Outstanding	70.86M	70.86M	70.6M	71.3M	72.4M	85.9M	90.1M	81.6M	73.4M	64.4M
Basic Shares Outstanding	70.57M	70.6M	70.6M	71.2M	72.2M	85.7M	90.1M	81.6M	73.4M	64.4M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	386.9M	272.6M	350.2M	455.7M	630.9M	844.2M	121.6M	310.6M	177.3M	196.9M
Cash & Short-Term Investments	310.6M	193.5M	263.3M	323M	533.7M	759.9M	85.8M	282.6M	121.8M	137.7M
Cash Only	275.1M	141.7M	245.6M	323M	533.7M	724.7M	85.8M	247.7M	106.2M	131.5M
Short-Term Investments	35.5M	51.8M	17.7M	0	0	35.2M	0	34.9M	15.6M	6.2M
Accounts Receivable	35.6M	24.7M	35.8M	30.4M	16M	17.6M	0	1.9M	26M	35.7M
Days Sales Outstanding	9.19	7.65	11.17	9.21	5.46	10.97	-	1.05	16.65	28.8
Inventory	23.6M	23.9M	29.7M	22.3M	16.3M	0	0	0	0	0
Days Inventory Outstanding	6.73	8.29	9.91	7.01	5.93	-	-	-	-	-
Other Current Assets	0	21.8M	0	39.1M	500K	66.7M	35.8M	26.1M	29.5M	23.5M
Total Non-Current Assets+	1.09B	1.2B	1.14B	1B	1.46B	3.77B	3.77B	2.81B	2.51B	2.03B
Property, Plant & Equipment	227.3M	235M	218.8M	176.4M	355.5M	348.1M	272.6M	243.5M	202.2M	197.8M
Fixed Asset Turnover	6.22x	5.01x	5.35x	6.83x	3.01x	1.68x	2.72x	2.72x	2.82x	2.29x
Goodwill	188.4M	103.1M	202.7M	164.9M	66.1M	53.4M	53.4M	53.4M	53.4M	53.4M
Intangible Assets	177M	111.8M	214.5M	175.8M	63.1M	51.8M	26.9M	23.5M	16.8M	15.1M
Long-Term Investments	396M	475.8M	424.9M	397.2M	836.5M	3.32B	3.31B	2.34B	2.01B	1.51B
Other Non-Current Assets	65.9M	241.9M	65.5M	73.3M	85.6M	1.52B	108.7M	136.2M	145.3M	178.8M
Total Assets+	1.47B	1.47B	1.49B	1.46B	2.09B	4.61B	3.89B	3.13B	2.69B	2.23B
Asset Turnover	0.96x	0.80x	0.79x	0.83x	0.51x	0.13x	0.19x	0.21x	0.21x	0.20x
Asset Growth %	-	0%	0.01%	-0.02%	0.43%	1.21%	-0.16%	-0.2%	-0.14%	-0.17%
Total Current Liabilities+	159.7M	159.5M	249.8M	160.3M	198.7M	202M	179.5M	122.7M	107.5M	146.5M
Accounts Payable	127.7M	24.7M	20.3M	23M	19.6M	25.7M	22.7M	25.8M	27M	16.6M
Days Payables Outstanding	36.4	8.57	6.77	7.23	7.13	15.15	11.88	14.93	18.7	13.48
Short-Term Debt	8.8M	11.4M	122.2M	5.9M	7M	11.3M	2.3M	2.3M	2.5M	61M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	78.3M	0	108.3M	0	47.4M	0	0	0	0
Current Ratio	2.42x	1.71x	1.40x	2.84x	3.18x	4.18x	0.68x	2.53x	1.65x	1.34x
Quick Ratio	2.27x	1.56x	1.28x	2.70x	3.09x	4.18x	0.68x	2.53x	1.65x	1.34x
Cash Conversion Cycle	-20.49	7.37	14.31	8.99	4.26	-	-	-	-	-
Total Non-Current Liabilities+	253.3M	304M	84.3M	99.9M	363.7M	626.2M	369M	287.9M	270M	267.1M
Long-Term Debt	191.1M	93.3M	12.7M	42.2M	120.1M	52.2M	14.1M	95.1M	102.5M	120M
Capital Lease Obligations	0	30M	0	0	199.7M	195.6M	195.6M	179.8M	155.3M	135M
Deferred Tax Liabilities	0	0	-9.1M	-200K	0	325.3M	143.8M	0	0	0
Other Non-Current Liabilities	62.2M	180.7M	62.5M	57.4M	43.9M	53.1M	15.5M	13M	12.2M	12.1M
Total Liabilities	413M	463.5M	334.1M	260.2M	562.4M	828.2M	548.5M	410.6M	377.5M	413.6M
Total Debt+	199.9M	134.7M	134.9M	48.1M	368.3M	285.3M	235.8M	300M	274.2M	330.5M
Net Debt	-75.2M	-7M	-110.7M	-274.9M	-165.4M	-439.4M	150M	52.3M	168M	199M
Debt / Equity	0.19x	0.13x	0.12x	0.04x	0.24x	0.08x	0.07x	0.11x	0.12x	0.18x
Debt / EBITDA	3.74x	3.17x	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-1.41x	-0.16x	-	-	-	-	-	-	-	-
Interest Coverage	-2.20x	-0.42x	-11.20x	-31.87x	-6.02x	-20.94x	-13.62x	-11.76x	-6.64x	-8.94x
Total Equity+	1.06B	1.01B	1.15B	1.2B	1.53B	3.79B	3.34B	2.71B	2.31B	1.82B
Equity Growth %	-	-0.05%	0.14%	0.04%	0.27%	1.47%	-0.12%	-0.19%	-0.15%	-0.21%
Book Value per Share	14.95	14.25	16.33	16.83	21.13	44.07	37.08	33.27	31.46	28.19
Total Shareholders' Equity	945.5M	893.5M	1.06B	1.12B	1.49B	3.78B	3.34B	2.72B	2.32B	1.84B
Common Stock	1.02B	961.6M	0	0	0	0	0	0	0	0
Retained Earnings	-3M	0	200K	46.1M	143.6M	1.93B	1.64B	1.21B	901.3M	567.1M
Treasury Stock	-108M	0	0	-200K	-5.9M	-21.1M	-188.6M	-414M	-533.9M	-724.7M
Accumulated OCI	-75.5M	-68.1M	-71M	-67.2M	-45.9M	-4.9M	-7.2M	-18.1M	-19.9M	-19.2M
Minority Interest	113.6M	116.3M	93.7M	75.1M	41.3M	5.6M	5.8M	-3.9M	-15.3M	-21.2M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	11.1M	60.3M	-90.7M	-22.9M	-84.2M	-113.9M	-176.1M	-205.1M	-87.8M	-90.1M
Operating CF Margin %	0.01%	0.05%	-0.08%	-0.02%	-0.08%	-0.19%	-0.24%	-0.31%	-0.15%	-0.2%
Operating CF Growth %	-	4.43%	-2.5%	0.75%	-2.68%	-0.35%	-0.55%	-0.16%	0.57%	-0.03%
Net Income	-7.3M	-11.9M	92.5M	-10.6M	46.8M	1.79B	-286.4M	-429.6M	-313.4M	-310.1M
Depreciation & Amortization	65.5M	62.9M	58.1M	61.3M	93.3M	55.8M	49M	44.6M	38.3M	27.8M
Stock-Based Compensation	1.4M	1.2M	500K	21.8M	4.6M	4.2M	2.4M	1.5M	3.5M	19M
Deferred Taxes	44.5M	32.8M	-269.5M	72.7M	214.3M	0	-48.9M	0	0	0
Other Non-Cash Items	-11.8M	-9.3M	-4.9M	-182.7M	-354.1M	-1.9B	309.2M	414.3M	314.4M	205.3M
Working Capital Changes	-81.2M	-15.4M	32.6M	14.6M	-89.1M	-59.7M	-201.4M	-235.9M	-130.6M	-32.1M
Change in Receivables	-1.6M	-4.2M	-1.2M	-7.3M	18.2M	0	0	0	0	0
Change in Inventory	11.2M	11.8M	-12.2M	9.5M	-36.2M	0	0	0	0	0
Change in Payables	-23.5M	-7.6M	15M	900K	8.4M	0	-1.2M	-36.7M	-19.4M	-19.4M
Cash from Investing+	273.1M	-168.2M	91.7M	186.7M	-24.2M	-74.2M	-272.4M	521.2M	53.1M	298.3M
Capital Expenditures	-60.5M	-55.2M	-40.1M	-15.9M	-28.3M	-22.3M	-13.7M	-14.3M	-10M	0
CapEx % of Revenue	0.04%	0.05%	0.03%	0.01%	0.03%	0.04%	0.02%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4.5M	41.7M	2.5M	5.4M	25.4M	-60.5M	-13.2M	18M	52.7M	472.6M
Cash from Financing+	-212.5M	-20.8M	98.2M	-86.4M	319.1M	379.1M	-190.4M	-154.2M	-106.8M	-182.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	-22.4M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-344.5M	-45.4M	13.8M	-120.1M	248.3M	349.1M	-200K	-8.1M	-59.1M	-29.2M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-49.4M	5.1M	-130.8M	-38.8M	-112.5M	-136.2M	-189.8M	-219.4M	-97.8M	-97.1M
FCF Margin %	-0.03%	0%	-0.11%	-0.03%	-0.11%	-0.23%	-0.26%	-0.33%	-0.17%	-0.21%
FCF Growth %	-	1.1%	-26.65%	0.7%	-1.9%	-0.21%	-0.39%	-0.16%	0.55%	0.01%
FCF per Share	-0.70	0.07	-1.85	-0.54	-1.55	-1.59	-2.11	-2.69	-1.33	-1.51
FCF Conversion (FCF/Net Income)	-0.48x	-4.86x	-0.83x	-0.83x	-1.80x	-0.06x	0.61x	0.48x	0.28x	0.30x
Interest Paid	0	0	0	0	0	5.5M	7M	9.6M	13.6M	6.3M
Taxes Paid	0	0	0	0	0	0	128.9M	100M	4.6M	900K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.16%	-1.2%	10.06%	2.35%	3.43%	67.21%	-8.05%	-14.14%	-12.48%	-14.77%
Return on Invested Capital (ROIC)	-0.92%	-0.17%	-5.75%	-11.42%	-7.02%	-6%	-2.93%	-3.47%	-3.4%	-3.46%
Gross Margin	9.48%	10.69%	6.44%	3.63%	6.25%	-5.7%	6.02%	4.71%	7.54%	0.64%
Net Margin	-1.62%	-1.05%	9.3%	2.29%	4.37%	304.97%	-38.67%	-64.66%	-54.98%	-67.31%
Debt / Equity	0.19x	0.13x	0.12x	0.04x	0.24x	0.08x	0.07x	0.11x	0.12x	0.18x
Interest Coverage	-2.20x	-0.42x	-11.20x	-31.87x	-6.02x	-20.94x	-13.62x	-11.76x	-6.64x	-8.94x
FCF Conversion	-0.48x	-4.86x	-0.83x	-0.83x	-1.80x	-0.06x	0.61x	0.48x	0.28x	0.30x
Revenue Growth	-	-16.7%	-0.76%	3.07%	-11.23%	-45.26%	26.72%	-10.79%	-13.91%	-20.61%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Restaurant Sales	-	-	-	-	704.7M	630.6M	536M	419.6M
Restaurant Sales Growth	-	-	-	-	-	-10.52%	-15.00%	-21.72%
Total Other Operating Revenue	-	87.6M	26.7M	26M	-	-	-	-
Total Other Operating Revenue Growth	-	-	-69.52%	-2.62%	-	-	-	-
Restaurant Group	1.13B	-	-	-	-	-	-	-
Restaurant Group Growth	-	-	-	-	-	-	-	-
Ceridian	751.7M	-	-	-	-	-	-	-
Ceridian Growth	-	-	-	-	-	-	-	-
Corporate and Other	37.8M	-	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-	-	-	-	-
T-System	12.9M	-	-	-	-	-	-	-
T-System Growth	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Cannae Holdings, Inc. (CNNE) reported $430.2M in revenue for fiscal year 2024. This represents a 70% decrease from $1.41B in 2015.

Cannae Holdings, Inc. (CNNE) saw revenue decline by 20.6% over the past year.

Cannae Holdings, Inc. (CNNE) reported a net loss of $466.3M for fiscal year 2024.

Dividend & Returns

Yes, Cannae Holdings, Inc. (CNNE) pays a dividend with a yield of 2.15%. This makes it attractive for income-focused investors.

Cannae Holdings, Inc. (CNNE) has a return on equity (ROE) of -14.8%. Negative ROE indicates the company is unprofitable.

Cannae Holdings, Inc. (CNNE) had negative free cash flow of $49.4M in fiscal year 2024, likely due to heavy capital investments.