CNO Financial Group, Inc. (CNO) Financial Ratios
24 years of historical data (2002–2025) · Financial Services · Insurance - Life
EV/EBITDA
↑
14.99
↑+62% vs avg
5yr avg: 9.25
30Y Low0.9·High16.2
P/FCF
↑
7.05
↑+23% vs avg
5yr avg: 5.74
30Y Low1.0·High30.8
P/B Ratio
↑
1.88
↑+40% vs avg
5yr avg: 1.35
30Y Low0.3·High1.6
ROE
↓
8.9%
↑-35% vs avg
5yr avg: 13.7%
30Y Low-39%·High18%
Debt/EBITDA
↑
7.73
↑+39% vs avg
5yr avg: 5.54
30Y Low0.6·High8.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CNO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
CNO Financial Group, Inc. trades at 21.6x earnings, 112% above its 5-year average of 10.2x, sitting at the 85th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 59%. On a free-cash-flow basis, the stock trades at 7.1x P/FCF, 23% above the 5-year average of 5.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.8B | $4.2B | $4.0B | $3.2B | $2.7B | $3.1B | $3.2B | $2.8B | $2.5B | $4.3B | $3.4B |
| Enterprise Value | $7.9B | $7.2B | $6.9B | $6.6B | $6.5B | $7.0B | $7.1B | $6.6B | $6.4B | $8.0B | $7.4B |
| P/E Ratio → | 21.63 | 18.07 | 9.95 | 11.63 | 4.26 | 7.10 | 10.54 | 6.95 | — | 24.21 | 9.53 |
| P/S Ratio | 1.06 | 0.93 | 0.90 | 0.77 | 0.75 | 0.76 | 0.83 | 0.71 | 0.57 | 0.99 | 0.86 |
| P/B Ratio | 1.88 | 1.57 | 1.60 | 1.45 | 1.52 | 0.59 | 0.58 | 0.61 | 0.73 | 0.88 | 0.76 |
| P/FCF | 7.05 | 6.14 | 6.41 | 5.51 | 5.43 | 5.22 | 4.33 | 4.09 | 7.75 | 6.93 | 4.50 |
| P/OCF | 7.05 | 6.14 | 6.41 | 5.51 | 5.43 | 5.22 | 4.33 | 4.09 | 7.75 | 6.93 | 4.50 |
P/E links to full P/E history page with 30-year chart
CNO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
CNO Financial Group, Inc.'s enterprise value stands at 15.0x EBITDA, 62% above its 5-year average of 9.2x. The Financial Services sector median is 11.4x, placing the stock at a 32% premium 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 | — | 1.62 | 1.55 | 1.59 | 1.82 | 1.70 | 1.85 | 1.63 | 1.48 | 1.87 | 1.87 |
| EV / EBITDA | 14.99 | 13.82 | 8.49 | 10.55 | 6.11 | 7.25 | 10.89 | 12.10 | 232.82 | 10.78 | 11.86 |
| EV / EBIT | 26.79 | 13.82 | 8.91 | 11.06 | 6.82 | 8.48 | 15.58 | 15.38 | — | 13.31 | 15.86 |
| EV / FCF | — | 10.73 | 10.97 | 11.30 | 13.13 | 11.75 | 9.60 | 9.42 | 20.07 | 13.12 | 9.81 |
CNO Profitability
Margins and return-on-capital ratios measuring operating efficiency
CNO Financial Group, Inc. earns an operating margin of 6.5%, below the Financial Services sector average of 20.3%. Operating margins have compressed from 8.6% to 6.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 8.9% is modest, trailing the sector median of 9.0%. ROIC of 4.0% represents below-average returns on invested capital versus a sector median of 5.5%.
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 | 44.8% | 44.8% | 38.3% | 37.0% | 50.1% | 41.2% | 33.6% | 30.7% | 13.5% | 31.2% | 29.1% |
| Operating Margin | 6.5% | 6.5% | 11.7% | 8.6% | 22.8% | 17.8% | 9.0% | 6.8% | -6.1% | 11.2% | 8.8% |
| Net Profit Margin | 5.1% | 5.1% | 9.1% | 6.7% | 17.6% | 13.8% | 7.9% | 10.2% | -7.3% | 4.1% | 9.0% |
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 | 8.9% | 8.9% | 17.1% | 13.9% | 17.9% | 10.6% | 5.9% | 10.2% | -7.7% | 3.8% | 8.3% |
| ROA | 0.6% | 0.6% | 1.1% | 0.8% | 1.8% | 1.6% | 0.9% | 1.3% | -1.0% | 0.5% | 1.1% |
| ROIC | 4.0% | 4.0% | 7.1% | 4.8% | 8.3% | 5.9% | 2.9% | 2.6% | -2.5% | 4.2% | 3.2% |
| ROCE | 1.5% | 1.5% | 2.8% | 1.0% | 3.0% | 2.0% | 1.0% | 0.8% | -3.3% | 5.5% | 4.2% |
CNO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
CNO Financial Group, Inc. carries a Debt/EBITDA ratio of 7.7x, which is highly leveraged (81% above the sector average of 4.3x). Net debt stands at $3.1B ($4.1B total debt minus $956M cash). Interest coverage of just 2.3x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.54 | 1.54 | 1.80 | 1.87 | 2.20 | 0.76 | 0.72 | 0.81 | 1.18 | 0.82 | 0.94 |
| Debt / EBITDA | 7.73 | 7.73 | 5.58 | 6.65 | 3.65 | 4.13 | 6.06 | 6.98 | 145.25 | 5.33 | 6.72 |
| Net Debt / Equity | — | 1.17 | 1.14 | 1.52 | 2.16 | 0.74 | 0.71 | 0.79 | 1.16 | 0.78 | 0.90 |
| Net Debt / EBITDA | 5.90 | 5.90 | 3.53 | 5.41 | 3.58 | 4.02 | 5.98 | 6.85 | 142.97 | 5.09 | 6.42 |
| Debt / FCF | — | 4.58 | 4.56 | 5.79 | 7.70 | 6.52 | 5.27 | 5.33 | 12.33 | 6.19 | 5.31 |
| Interest Coverage | 2.27 | 2.27 | 3.04 | 2.50 | 6.96 | 8.68 | 4.16 | 2.80 | -0.77 | 4.88 | 4.03 |
CNO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.71x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.68x to 0.71x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.71 | 0.71 | 1.68 | — | 1.73 | 3497.33 | — | — | 0.02 | 0.02 | 0.02 |
| Quick Ratio | 0.71 | 0.71 | 1.68 | — | 1.73 | 3497.33 | — | — | 0.00 | 0.01 | 0.01 |
| Cash Ratio | 0.46 | 0.46 | 1.39 | — | 1.33 | 2964.88 | — | — | 0.77 | 0.95 | 0.91 |
| Asset Turnover | — | 0.12 | 0.12 | 0.12 | 0.11 | 0.11 | 0.11 | 0.12 | 0.14 | 0.13 | 0.12 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CNO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
CNO Financial Group, Inc. returns 8.3% to shareholders annually — split between a 1.3% dividend yield and 7.0% buyback yield. The payout ratio of 28.9% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.6% (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 | 1.3% | 1.6% | 1.7% | 2.1% | 2.4% | 2.1% | 2.1% | 2.4% | 2.6% | 1.4% | 1.6% |
| Payout Ratio | 28.9% | 28.9% | 16.8% | 24.6% | 10.3% | 11.5% | 22.2% | 16.4% | — | 33.9% | 15.3% |
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 | 4.6% | 5.5% | 10.1% | 8.6% | 23.5% | 14.1% | 9.5% | 14.4% | — | 4.1% | 10.5% |
| FCF Yield | 14.2% | 16.3% | 15.6% | 18.1% | 18.4% | 19.1% | 23.1% | 24.5% | 12.9% | 14.4% | 22.2% |
| Buyback Yield | 7.0% | 8.0% | 7.5% | 5.2% | 7.1% | 13.0% | 8.4% | 8.9% | 4.4% | 4.0% | 6.1% |
| Total Shareholder Yield | 8.3% | 9.6% | 9.1% | 7.3% | 9.5% | 15.1% | 10.5% | 11.3% | 7.0% | 5.4% | 7.8% |
| Shares Outstanding | — | $98M | $108M | $115M | $118M | $131M | $143M | $157M | $165M | $172M | $178M |
Peer Comparison
Compare CNO 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 |
|---|---|---|---|---|---|---|---|---|---|
 CNOYou | $5B | 21.6 | 15.0 | 7.1 | 44.8% | 6.5% | 8.9% | 4.0% | 7.7 |
 GL | $13B | 12.1 | 10.0 | 10.7 | 33.4% | 24.4% | 20.6% | 13.4% | 1.6 |
 FG | $4B | 14.6 | 4.5 | 0.8 | 30.8% | 5.6% | 5.9% | 5.0% | 2.3 |
 CRBG | $13B | -42.9 | 1585.8 | 6.6 | 80.9% | -18.7% | -2.8% | -1.6% | 727.1 |
 PFG | $24B | 20.9 | 14.1 | 5.3 | 45.2% | 9.1% | 9.9% | 9.0% | 2.5 |
 LNC | $7B | 6.4 | 2.6 | — | 57.3% | 7.3% | 12.3% | 12.0% | 4.1 |
 RLI | $5B | 12.2 | 9.4 | 8.0 | 29.8% | 27.5% | 24.4% | 22.8% | 0.2 |
 MET | $56B | 17.8 | 9.4 | 3.1 | 36.4% | 6.0% | 11.9% | 13.1% | 3.5 |
 PRU | $37B | 10.4 | 8.2 | 5.9 | 42.0% | 7.9% | 10.9% | 10.0% | 4.7 |
 AFL | $59B | 16.9 | 11.2 | 23.3 | 38.9% | 26.6% | 13.1% | 11.8% | 1.5 |
 UNM | $15B | 21.0 | 17.3 | 26.2 | 38.2% | 7.2% | 6.7% | 4.7% | 3.7 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 24 years · Updated daily
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CNO — Frequently Asked Questions
Quick answers to the most common questions about buying CNO stock.
What is CNO Financial Group, Inc.'s P/E ratio?
CNO Financial Group, Inc.'s current P/E ratio is 21.6x. The historical average is 15.2x. This places it at the 85th percentile of its historical range.
What is CNO Financial Group, Inc.'s EV/EBITDA?
CNO Financial Group, Inc.'s current EV/EBITDA is 15.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.7x.
What is CNO Financial Group, Inc.'s ROE?
CNO Financial Group, Inc.'s return on equity (ROE) is 8.9%. The historical average is 4.7%.
Is CNO stock overvalued?
Based on historical data, CNO Financial Group, Inc. is trading at a P/E of 21.6x. This is at the 85th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is CNO Financial Group, Inc.'s dividend yield?
CNO Financial Group, Inc.'s current dividend yield is 1.33% with a payout ratio of 28.9%.
What are CNO Financial Group, Inc.'s profit margins?
CNO Financial Group, Inc. has 44.8% gross margin and 6.5% operating margin.
How much debt does CNO Financial Group, Inc. have?
CNO Financial Group, Inc.'s Debt/EBITDA ratio is 7.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.