CNA Financial (CNA) Financials

$43.89 -0.44 (-0.99%)

Closing price 08/1/2025 03:59 PM Eastern

Extended Trading

$43.88 -0.01 (-0.01%)

As of 08/1/2025 07:29 PM Eastern

Annual Income Statements for CNA Financial

This table shows CNA Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	479	859	899	813	1,000	690	1,184	682	1,205	959
Consolidated Net Income / (Loss)	479	859	899	813	1,000	690	1,184	682	1,205	959
Net Income / (Loss) Continuing Operations	479	859	899	813	1,000	690	1,184	682	1,205	959
Total Pre-Tax Income	549	1,137	1,310	964	1,223	821	1,462	814	1,518	1,211
Total Revenue	8,946	9,207	9,381	9,996	10,767	10,686	11,795	11,767	13,172	14,137
Net Interest Income / (Expense)	-155	-159	-161	-138	-131	-122	-113	-112	-127	-133
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	155	159	161	138	131	122	113	112	127	133
Long-Term Debt Interest Expense	155	159	161	138	131	122	113	112	127	133
Total Non-Interest Income	9,101	9,366	9,542	10,134	10,767	10,808	11,908	11,879	13,299	14,270
Other Service Charges	407	43	37	50	31	26	24	32	30	34
Net Realized & Unrealized Capital Gains on Investments	1,773	2,038	2,127	1,765	2,147	1,881	2,279	1,606	2,165	2,416
Premiums Earned	6,921	6,924	6,988	7,312	7,428	7,649	8,175	8,667	9,480	10,211
Other Non-Interest Income	-	361	390	1,007	1,161	1,252	1,430	1,574	1,624	1,609
Total Non-Interest Expense	8,397	8,070	8,071	9,032	9,544	9,865	10,333	10,953	11,654	12,926
Current and Future Benefits	5,384	5,283	5,310	5,572	5,806	6,170	-	6,653	7,068	7,738
Other Operating Expenses	1,473	1,552	1,528	2,125	2,224	2,285	2,519	2,810	2,942	3,390
Amortization Expense	1,540	1,235	1,233	1,335	1,383	1,410	1,443	1,490	1,644	1,798
Income Tax Expense	70	278	411	151	223	131	278	132	313	252
Basic Earnings per Share	$1.77	$3.18	$3.32	$2.99	$3.68	$2.54	$4.36	$2.51	$4.44	$3.53
Weighted Average Basic Shares Outstanding	270.20M	270.40M	271.10M	271.50M	271.60M	271.60M	271.80M	271.60M	271.30M	271.50M
Diluted Earnings per Share	$1.77	$3.17	$3.30	$2.98	$3.67	$2.53	$4.34	$2.51	$4.43	$3.52
Weighted Average Diluted Shares Outstanding	270.70M	271.10M	272.10M	272.50M	272.50M	272.40M	272.80M	272.50M	272.20M	272.70M
Weighted Average Basic & Diluted Shares Outstanding	270.60M	270.10M	270.80M	271.90M	271.41M	271.39M	271.37M	270.90M	270.90M	270.86M
Cash Dividends to Common per Share	$3.00	$3.00	$3.10	$3.30	$3.40	$3.48	$2.27	$3.60	$2.88	$3.76

This table shows CNA Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-42	239	297	283	258	367	338	317	283	21	274
Consolidated Net Income / (Loss)	-42	239	297	283	258	367	338	317	283	21	274
Net Income / (Loss) Continuing Operations	-42	239	297	283	258	367	338	317	283	21	274
Total Pre-Tax Income	-51	283	371	361	326	460	427	402	361	21	349
Total Revenue	2,929	3,083	3,124	3,273	3,302	3,473	3,409	3,485	3,586	3,657	3,595
Net Interest Income / (Expense)	-28	-28	-28	-31	-34	-34	-35	-34	-32	-32	-32
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	28	28	28	31	34	34	35	34	32	32	32
Long-Term Debt Interest Expense	28	28	28	31	34	34	35	34	32	32	32
Total Non-Interest Income	2,957	3,111	3,152	3,304	3,336	3,507	3,444	3,519	3,618	3,689	3,627
Other Service Charges	11	8.00	7.00	7.00	8.00	8.00	9.00	9.00	8.00	8.00	9.00
Net Realized & Unrealized Capital Gains on Investments	326	470	490	543	515	617	587	608	616	605	595
Premiums Earned	2,221	2,232	2,248	2,347	2,406	2,479	2,441	2,498	2,593	2,679	2,626
Other Non-Interest Income	399	401	407	407	407	403	407	404	401	397	397
Total Non-Interest Expense	2,980	2,800	2,753	2,912	2,976	3,013	2,982	3,083	3,225	3,636	3,246
Current and Future Benefits	-	-	1,653	1,779	1,826	1,810	1,807	1,882	2,019	2,030	2,027
Other Operating Expenses	717	717	721	730	724	767	731	766	749	1,144	748
Amortization Expense	383	389	379	403	426	436	444	435	457	462	471
Income Tax Expense	-9.00	44	74	78	68	93	89	85	78	-	75
Basic Earnings per Share	($0.15)	$0.88	$1.10	$1.04	$0.95	$1.35	$1.24	$1.17	$1.04	$0.08	$1.01
Weighted Average Basic Shares Outstanding	271.40M	271.60M	271.30M	271.20M	271.20M	271.30M	271.60M	271.60M	271.30M	271.50M	271.30M
Diluted Earnings per Share	($0.15)	$0.89	$1.09	$1.04	$0.95	$1.35	$1.24	$1.17	$1.04	$0.07	$1.00
Weighted Average Diluted Shares Outstanding	272.30M	272.50M	272.30M	272M	272.30M	272.20M	272.70M	272.60M	272.70M	272.70M	272.60M
Weighted Average Basic & Diluted Shares Outstanding	270.89M	270.90M	270.85M	270.86M	270.87M	270.90M	271.28M	270.84M	270.84M	270.86M	270.62M
Cash Dividends to Common per Share	$0.40	-	$1.62	$0.42	$0.42	-	$2.44	$0.44	$0.44	-	$2.46

This table details how cash moves in and out of CNA Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	197	-116	84	-35	-68	177	117	-61	-130	127
Net Cash From Operating Activities	1,387	1,416	1,254	1,227	1,140	1,775	1,997	2,502	2,285	2,571
Net Cash From Continuing Operating Activities	1,387	1,416	1,254	1,227	1,140	1,775	1,997	2,502	2,285	2,571
Net Income / (Loss) Continuing Operations	479	859	899	813	1,000	690	1,184	682	1,205	959
Consolidated Net Income / (Loss)	479	859	899	813	1,000	690	1,184	682	1,205	959
Depreciation Expense	84	77	88	79	68	60	54	51	73	67
Amortization Expense	17	-27	-40	-70	-89	-67	-81	-129	-191	-200
Non-Cash Adjustments to Reconcile Net Income	110	353	212	401	-289	-148	-280	168	-99	355
Changes in Operating Assets and Liabilities, net	697	154	95	4.00	450	1,240	1,120	1,730	1,297	1,390
Net Cash From Investing Activities	-372	-846	-424	-177	-225	-705	-1,228	-1,512	-1,843	-1,317
Net Cash From Continuing Investing Activities	-372	-846	-424	-177	-225	-705	-1,228	-1,512	-1,843	-1,317
Purchase of Property, Leasehold Improvements and Equipment	-125	-146	-102	-99	-26	-23	-26	-52	-90	-95
Purchase of Investment Securities	-8,925	-10,079	-9,411	-11,474	-9,354	-11,164	-10,146	-10,644	-7,440	-7,272
Sale and/or Maturity of Investments	8,801	9,392	9,363	11,506	9,155	10,482	8,944	9,184	5,687	6,050
Net Cash From Financing Activities	-807	-673	-755	-1,085	-988	-902	-648	-1,032	-577	-1,117
Net Cash From Continuing Financing Activities	-807	-673	-755	-1,085	-988	-902	-648	-1,032	-577	-1,117
Issuance of Debt	0.00	498	496	0.00	496	495	0.00	0.00	491	490
Repayment of Debt	0.00	-358	-391	-189	-520	-419	0.00	0.00	-243	-550
Repurchase of Common Equity	-	-	0.00	0.00	-23	-18	-18	-39	-24	-20
Payment of Dividends	-811	-813	-842	-896	-929	-950	-621	-982	-787	-1,025
Other Financing Activities, Net	4.00	0.00	-18	-	-12	-10	-9.00	-11	-14	-12
Effect of Exchange Rate Changes	-11	-13	9.00	-	5.00	9.00	-4.00	-19	5.00	-10

This table details how cash moves in and out of CNA Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-57	-28	8.00	-125	127	-140	64	-34	81	16	11
Net Cash From Operating Activities	737	512	436	501	828	520	504	616	748	703	638
Net Cash From Continuing Operating Activities	737	512	436	501	828	520	504	616	748	703	638
Net Income / (Loss) Continuing Operations	-42	239	297	283	258	367	338	317	283	21	274
Consolidated Net Income / (Loss)	-42	239	297	283	258	367	338	317	283	21	274
Depreciation Expense	13	13	12	16	16	29	16	18	17	16	17
Amortization Expense	-33	-40	-46	-41	-53	-51	-57	-48	-48	-47	-49
Non-Cash Adjustments to Reconcile Net Income	39	71	-164	6.00	195	-136	-36	14	-40	417	14
Changes in Operating Assets and Liabilities, net	760	229	337	237	412	311	243	315	536	296	382
Net Cash From Investing Activities	-641	-440	51	-909	-679	-306	-249	40	-553	-555	88
Net Cash From Continuing Investing Activities	-641	-440	51	-909	-679	-306	-249	40	-553	-555	88
Purchase of Property, Leasehold Improvements and Equipment	-16	-11	-20	-23	-24	-23	-20	-19	-18	-38	-18
Purchase of Investment Securities	-2,692	-1,285	-1,789	-2,135	-2,225	-1,291	-1,881	-1,850	-1,895	-1,646	-2,024
Sale and/or Maturity of Investments	2,067	856	1,860	1,249	1,570	1,008	1,652	1,909	1,360	1,129	2,130
Net Cash From Financing Activities	-138	-108	-480	280	-18	-359	-189	-689	-120	-119	-722
Net Cash From Continuing Financing Activities	-138	-108	-480	280	-18	-359	-189	-689	-120	-119	-722
Issuance of Debt	-	-	0.00	395	96	-	490	-	-	-	0.00
Repurchase of Common Equity	-18	-	-24	-	-	-	0.00	-20	-	-	-34
Payment of Dividends	-109	-108	-445	-114	-114	-114	-667	-119	-120	-119	-673
Other Financing Activities, Net	-11	-	-11	-1.00	-	-2.00	-12	-	-	-	-15
Effect of Exchange Rate Changes	-15	8.00	1.00	3.00	-4.00	5.00	-2.00	-1.00	6.00	-13	7.00

This table presents CNA Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	55,045	55,233	56,567	57,152	60,612	64,026	66,639	61,000	64,711	66,492
Cash and Due from Banks	387	271	355	310	242	419	536	475	345	472
Trading Account Securities	39,769	41,015	42,182	40,326	43,072	45,623	45,415	38,301	41,108	41,770
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	404	405	411	391	395	380	377	402	444	451
Premises and Equipment, Net	343	310	326	324	282	252	226	226	253	295
Mortgage Servicing Rights	678	591	839	839	994	1,068	973	1,040	1,035	1,019
Unearned Premiums Asset	2,078	2,209	2,292	2,323	2,449	2,607	2,945	3,158	3,442	3,671
Deferred Acquisition Cost	598	600	634	633	662	708	737	4,477	4,557	4,484
Goodwill	150	145	148	146	147	148	148	144	146	145
Other Assets	10,638	9,687	9,380	11,860	12,369	12,821	15,282	12,777	13,381	14,185
Total Liabilities & Shareholders' Equity	55,045	55,233	56,567	57,152	60,612	64,026	66,639	61,000	64,711	66,492
Total Liabilities	43,289	43,264	44,323	45,935	48,397	51,319	53,830	52,452	54,818	55,979
Short-Term Debt	350	0.00	150	-	-	-	0.00	243	550	0.00
Long-Term Debt	2,210	2,710	2,708	2,680	2,679	2,776	2,779	2,538	2,481	2,973
Claims and Claim Expense	22,663	22,343	22,004	21,984	21,720	22,706	24,174	22,120	23,304	24,976
Future Policy Benefits	10,152	10,326	11,179	10,597	12,311	13,318	13,236	13,480	13,959	13,158
Unearned Premiums Liability	3,671	3,762	4,029	4,183	4,583	5,119	5,761	6,374	6,933	7,346
Other Long-Term Liabilities	4,243	4,123	4,253	6,491	7,104	7,400	7,880	7,697	7,591	7,526
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	11,756	11,969	12,244	11,217	12,215	12,707	12,809	8,548	9,893	10,513
Total Preferred & Common Equity	11,756	11,969	12,244	11,217	12,215	12,707	12,809	8,548	9,893	10,513
Total Common Equity	11,756	11,969	12,244	11,217	12,215	12,707	12,809	8,548	9,893	10,513
Common Stock	2,836	2,856	2,858	2,875	2,886	2,894	2,898	2,903	2,904	2,912
Retained Earnings	9,313	9,359	9,414	9,277	9,348	9,081	9,663	9,336	9,755	9,686
Treasury Stock	-78	-73	-60	-57	-70	-71	-72	-93	-94	-94
Accumulated Other Comprehensive Income / (Loss)	-315	-173	32	-878	51	803	320	-3,598	-2,672	-1,991

This table presents CNA Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	60,215	62,055	63,088	61,952	65,075	65,194	67,356	67,326
Cash and Due from Banks	503	483	358	485	409	375	456	483
Trading Account Securities	38,142	39,789	39,411	38,548	41,296	41,072	43,247	42,668
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accrued Investment Income	411	415	424	441	447	453	460	465
Premises and Equipment, Net	229	232	246	257	256	259	258	291
Mortgage Servicing Rights	953	1,006	1,009	995	1,029	986	1,003	1,049
Unearned Premiums Asset	2,986	3,126	3,521	3,211	3,432	3,816	3,489	3,703
Deferred Acquisition Cost	787	4,523	4,574	4,568	4,548	4,546	943	4,492
Goodwill	142	145	146	145	146	146	147	146
Other Assets	16,062	12,336	13,399	13,302	13,512	13,541	17,353	14,029
Total Liabilities & Shareholders' Equity	60,215	62,055	63,088	61,952	65,075	65,194	67,356	67,326
Total Liabilities	52,121	53,388	54,362	53,389	55,413	55,320	56,598	57,047
Short-Term Debt	-	243	792	793	550	0.00	0.00	500
Long-Term Debt	2,780	2,539	2,384	2,480	2,970	2,971	2,972	2,474
Claims and Claim Expense	24,700	22,409	22,802	22,836	23,588	23,974	24,558	25,581
Future Policy Benefits	10,454	13,976	13,666	12,654	13,513	13,211	14,047	13,304
Unearned Premiums Liability	6,195	6,581	6,978	6,789	7,046	7,409	7,259	7,504
Other Long-Term Liabilities	7,992	7,640	7,740	7,837	7,746	7,755	7,762	7,684
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	8,094	8,667	8,726	8,563	9,662	9,874	10,758	10,279
Total Preferred & Common Equity	8,094	8,667	8,726	8,563	9,662	9,874	10,758	10,279
Total Common Equity	8,094	8,667	8,726	8,563	9,662	9,874	10,758	10,279
Common Stock	2,894	2,879	2,887	2,896	2,884	2,893	2,904	2,887
Retained Earnings	9,433	9,191	9,359	9,503	9,425	9,623	9,785	9,287
Treasury Stock	-94	-95	-95	-95	-75	-95	-94	-110
Accumulated Other Comprehensive Income / (Loss)	-4,139	-3,308	-3,425	-3,741	-2,572	-2,547	-1,837	-1,785

This table displays calculated financial ratios and metrics derived from CNA Financial's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.92%	2.92%	1.89%	6.56%	7.71%	-0.75%	10.38%	-0.24%	11.94%	7.33%
EBITDA Growth	-49.73%	82.62%	14.41%	-28.35%	23.54%	-32.28%	76.29%	-48.71%	90.22%	-23.00%
EBIT Growth	-54.52%	107.10%	15.22%	-26.41%	26.87%	-32.87%	78.08%	-44.32%	86.49%	-20.22%
NOPAT Growth	-46.06%	79.33%	4.66%	-9.57%	23.00%	-31.00%	71.59%	-42.40%	76.69%	-20.41%
Net Income Growth	-30.68%	79.33%	4.66%	-9.57%	23.00%	-31.00%	71.59%	-42.40%	76.69%	-20.41%
EPS Growth	-30.59%	79.10%	4.10%	-9.70%	23.15%	-31.06%	71.54%	-42.17%	76.49%	-20.54%
Operating Cash Flow Growth	-3.68%	2.09%	-11.44%	-2.15%	-7.09%	55.70%	12.51%	25.29%	-8.67%	12.52%
Free Cash Flow Firm Growth	110.62%	-67.28%	-4.03%	323.95%	-99.85%	3,266.67%	968.32%	357.92%	-107.89%	201.79%
Invested Capital Growth	-6.75%	2.54%	2.88%	-7.98%	7.17%	3.95%	0.68%	-27.32%	14.08%	4.35%
Revenue Q/Q Growth	-1.13%	1.31%	0.65%	-0.42%	4.95%	-0.05%	1.32%	0.49%	3.05%	1.32%
EBITDA Q/Q Growth	-37.02%	57.22%	7.52%	-39.45%	81.02%	22.59%	-11.04%	-5.40%	14.94%	-29.36%
EBIT Q/Q Growth	-42.93%	72.53%	7.64%	-35.22%	58.01%	21.09%	-10.42%	-2.98%	13.20%	-26.61%
NOPAT Q/Q Growth	-35.88%	56.75%	-1.96%	-27.41%	55.52%	19.79%	-10.51%	-1.30%	11.88%	-26.51%
Net Income Q/Q Growth	-35.88%	56.75%	-1.96%	-27.41%	55.52%	19.79%	-10.51%	-1.30%	11.88%	-26.51%
EPS Q/Q Growth	-35.87%	57.71%	-2.65%	-27.32%	56.17%	19.34%	-10.52%	-0.79%	11.59%	-26.67%
Operating Cash Flow Q/Q Growth	-3.55%	-3.15%	5.38%	-0.08%	-14.86%	13.20%	16.04%	-4.98%	0.35%	7.66%
Free Cash Flow Firm Q/Q Growth	110.96%	5.53%	-40.13%	3.17%	-90.63%	-82.59%	59.14%	-6.05%	-439.13%	167.40%
Invested Capital Q/Q Growth	-3.44%	-1.51%	0.51%	-2.06%	0.63%	4.64%	0.95%	4.18%	9.19%	-1.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	7.27%	12.89%	14.48%	9.73%	11.16%	7.62%	12.17%	6.25%	10.63%	7.63%
EBIT Margin	6.14%	12.35%	13.96%	9.64%	11.36%	7.68%	12.40%	6.92%	11.52%	8.57%
Profit (Net Income) Margin	5.35%	9.33%	9.58%	8.13%	9.29%	6.46%	10.04%	5.80%	9.15%	6.78%
Tax Burden Percent	87.25%	75.55%	68.63%	84.34%	81.77%	84.04%	80.99%	83.78%	79.38%	79.19%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	12.75%	24.45%	31.37%	15.66%	18.23%	15.96%	19.02%	16.22%	20.62%	20.81%
Return on Invested Capital (ROIC)	3.23%	5.93%	6.04%	5.61%	6.95%	4.54%	7.62%	5.07%	9.94%	7.26%
ROIC Less NNEP Spread (ROIC-NNEP)	3.23%	5.93%	6.04%	5.61%	6.95%	4.54%	7.62%	5.07%	9.94%	7.26%
Return on Net Nonoperating Assets (RNNOA)	0.67%	1.32%	1.39%	1.32%	1.59%	0.99%	1.66%	1.32%	3.13%	2.14%
Return on Equity (ROE)	3.90%	7.24%	7.43%	6.93%	8.54%	5.54%	9.28%	6.39%	13.07%	9.40%
Cash Return on Invested Capital (CROIC)	10.22%	3.42%	3.20%	13.92%	0.02%	0.67%	6.95%	36.71%	-3.22%	3.01%
Operating Return on Assets (OROA)	0.99%	2.06%	2.34%	1.70%	2.08%	1.32%	2.24%	1.28%	2.42%	1.85%
Return on Assets (ROA)	0.87%	1.56%	1.61%	1.43%	1.70%	1.11%	1.81%	1.07%	1.92%	1.46%
Return on Common Equity (ROCE)	3.90%	7.24%	7.43%	6.93%	8.54%	5.54%	9.28%	6.39%	13.07%	9.40%
Return on Equity Simple (ROE_SIMPLE)	4.07%	7.18%	7.34%	7.25%	8.19%	5.43%	9.24%	7.98%	12.18%	9.12%
Net Operating Profit after Tax (NOPAT)	479	859	899	813	1,000	690	1,184	682	1,205	959
NOPAT Margin	5.35%	9.33%	9.58%	8.13%	9.29%	6.46%	10.04%	5.80%	9.15%	6.78%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	93.86%	87.65%	86.04%	90.36%	88.64%	92.32%	87.60%	93.08%	88.48%	91.43%
Earnings before Interest and Taxes (EBIT)	549	1,137	1,310	964	1,223	821	1,462	814	1,518	1,211
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	650	1,187	1,358	973	1,202	814	1,435	736	1,400	1,078
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.42	0.53	0.72	0.70	0.70	0.64	0.75	1.15	1.07	1.25
Price to Tangible Book Value (P/TBV)	0.42	0.54	0.73	0.71	0.71	0.64	0.76	1.17	1.08	1.26
Price to Revenue (P/Rev)	0.55	0.69	0.94	0.78	0.79	0.76	0.82	0.84	0.80	0.93
Price to Earnings (P/E)	10.26	7.45	9.76	9.60	8.55	11.71	8.12	14.48	8.78	13.66
Dividend Yield	5.50%	4.23%	3.40%	10.43%	5.56%	4.97%	4.29%	4.39%	4.30%	6.86%
Earnings Yield	9.74%	13.43%	10.24%	10.41%	11.70%	8.54%	12.31%	6.91%	11.40%	7.32%
Enterprise Value to Invested Capital (EV/IC)	0.50	0.60	0.75	0.73	0.74	0.67	0.76	1.08	1.03	1.16
Enterprise Value to Revenue (EV/Rev)	0.79	0.96	1.20	1.02	1.02	0.98	1.01	1.04	1.01	1.10
Enterprise Value to EBITDA (EV/EBITDA)	10.91	7.44	8.31	10.46	9.14	12.82	8.26	16.55	9.47	14.47
Enterprise Value to EBIT (EV/EBIT)	12.91	7.77	8.61	10.56	8.98	12.71	8.11	14.96	8.74	12.88
Enterprise Value to NOPAT (EV/NOPAT)	14.80	10.29	12.55	12.52	10.98	15.12	10.02	17.86	11.00	16.27
Enterprise Value to Operating Cash Flow (EV/OCF)	5.11	6.24	9.00	8.29	9.63	5.88	5.94	4.87	5.80	6.07
Enterprise Value to Free Cash Flow (EV/FCFF)	4.68	17.81	23.70	5.04	3,660.99	103.32	10.99	2.46	0.00	39.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.22	0.23	0.23	0.24	0.22	0.22	0.22	0.33	0.31	0.28
Long-Term Debt to Equity	0.19	0.23	0.22	0.24	0.22	0.22	0.22	0.30	0.25	0.28
Financial Leverage	0.21	0.22	0.23	0.24	0.23	0.22	0.22	0.26	0.32	0.29
Leverage Ratio	4.51	4.65	4.62	4.85	5.03	5.00	5.12	5.98	6.82	6.43
Compound Leverage Factor	4.51	4.65	4.62	4.85	5.03	5.00	5.12	5.98	6.82	6.43
Debt to Total Capital	17.88%	18.46%	18.92%	19.28%	17.99%	17.93%	17.83%	24.55%	23.45%	22.05%
Short-Term Debt to Total Capital	2.44%	0.00%	0.99%	0.00%	0.00%	0.00%	0.00%	2.14%	4.26%	0.00%
Long-Term Debt to Total Capital	15.44%	18.46%	17.93%	19.28%	17.99%	17.93%	17.83%	22.40%	19.20%	22.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	82.12%	81.54%	81.08%	80.72%	82.01%	82.07%	82.17%	75.45%	76.55%	77.95%
Debt to EBITDA	3.94	2.28	2.10	2.75	2.23	3.41	1.94	3.78	2.17	2.76
Net Debt to EBITDA	3.34	2.05	1.84	2.44	2.03	2.90	1.56	3.13	1.92	2.32
Long-Term Debt to EBITDA	3.40	2.28	1.99	2.75	2.23	3.41	1.94	3.45	1.77	2.76
Debt to NOPAT	5.34	3.15	3.18	3.30	2.68	4.02	2.35	4.08	2.52	3.10
Net Debt to NOPAT	4.54	2.84	2.78	2.92	2.44	3.42	1.89	3.38	2.23	2.61
Long-Term Debt to NOPAT	4.61	3.15	3.01	3.30	2.68	4.02	2.35	3.72	2.06	3.10
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,516	496	476	2,018	3.00	101	1,079	4,941	-390	397
Operating Cash Flow to CapEx	1,109.60%	3,630.77%	1,229.41%	1,239.39%	4,384.62%	7,717.39%	7,680.77%	4,811.54%	2,538.89%	2,706.32%
Free Cash Flow to Firm to Interest Expense	9.78	3.12	2.96	14.62	0.02	0.83	9.55	44.12	-3.07	2.99
Operating Cash Flow to Interest Expense	8.95	8.91	7.79	8.89	8.70	14.55	17.67	22.34	17.99	19.33
Operating Cash Flow Less CapEx to Interest Expense	8.14	8.66	7.16	8.17	8.50	14.36	17.44	21.88	17.28	18.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.16	0.17	0.17	0.18	0.18	0.17	0.18	0.18	0.21	0.22
Fixed Asset Turnover	28.04	28.20	29.50	30.76	35.53	40.02	49.35	52.07	55.00	51.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	14,316	14,679	15,102	13,897	14,894	15,483	15,588	11,329	12,924	13,486
Invested Capital Turnover	0.60	0.64	0.63	0.69	0.75	0.70	0.76	0.87	1.09	1.07
Increase / (Decrease) in Invested Capital	-1,037	363	423	-1,205	997	589	105	-4,259	1,595	562
Enterprise Value (EV)	7,090	8,835	11,281	10,178	10,983	10,435	11,858	12,178	13,260	15,602
Market Capitalization	4,917	6,396	8,778	7,808	8,546	8,078	9,615	9,872	10,574	13,101
Book Value per Share	$43.50	$44.25	$45.15	$41.33	$44.99	$46.82	$47.20	$31.55	$36.52	$38.82
Tangible Book Value per Share	$42.94	$43.71	$44.61	$40.79	$44.45	$46.28	$46.66	$31.02	$35.98	$38.28
Total Capital	14,316	14,679	15,102	13,897	14,894	15,483	15,588	11,329	12,924	13,486
Total Debt	2,560	2,710	2,858	2,680	2,679	2,776	2,779	2,781	3,031	2,973
Total Long-Term Debt	2,210	2,710	2,708	2,680	2,679	2,776	2,779	2,538	2,481	2,973
Net Debt	2,173	2,439	2,503	2,370	2,437	2,357	2,243	2,306	2,686	2,501
Capital Expenditures (CapEx)	125	39	102	99	26	23	26	52	90	95
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	2,560	2,710	2,858	2,680	2,679	2,776	2,779	2,781	3,031	2,973
Total Depreciation and Amortization (D&A)	101	50	48	9.00	-21	-7.00	-27	-78	-118	-133
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.77	$3.18	$3.32	$2.99	$3.68	$2.54	$4.42	$3.29	$4.44	$3.53
Adjusted Weighted Average Basic Shares Outstanding	270.20M	270.40M	271.10M	271.50M	271.60M	271.60M	271.80M	271.60M	271.30M	271.50M
Adjusted Diluted Earnings per Share	$1.77	$3.17	$3.30	$2.98	$3.67	$2.53	$4.41	$3.28	$4.43	$3.52
Adjusted Weighted Average Diluted Shares Outstanding	270.70M	271.10M	272.10M	272.50M	272.50M	272.40M	272.80M	272.50M	272.20M	272.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	270.27M	270.50M	271.22M	271.47M	271.41M	271.39M	271.37M	270.90M	270.90M	270.86M
Normalized Net Operating Profit after Tax (NOPAT)	479	859	899	813	1,000	690	1,184	682	1,205	959
Normalized NOPAT Margin	5.35%	9.33%	9.58%	8.13%	9.29%	6.46%	10.04%	5.80%	9.15%	6.78%
Pre Tax Income Margin	6.14%	12.35%	13.96%	9.64%	11.36%	7.68%	12.40%	6.92%	11.52%	8.57%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.54	7.15	8.14	6.99	9.34	6.73	12.94	7.27	11.95	9.11
NOPAT to Interest Expense	3.09	5.40	5.58	5.89	7.63	5.66	10.48	6.09	9.49	7.21
EBIT Less CapEx to Interest Expense	2.74	6.91	7.50	6.27	9.14	6.54	12.71	6.80	11.24	8.39
NOPAT Less CapEx to Interest Expense	2.28	5.16	4.95	5.17	7.44	5.47	10.25	5.63	8.78	6.50
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	169.31%	94.64%	93.66%	110.21%	92.90%	137.68%	52.45%	143.99%	65.31%	106.88%
Augmented Payout Ratio	169.31%	94.64%	93.66%	110.21%	95.20%	140.29%	53.97%	149.71%	67.30%	108.97%

This table displays calculated financial ratios and metrics derived from CNA Financial's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.07%	1.88%	9.35%	12.94%	12.73%	12.65%	9.12%	6.48%	8.60%	5.30%	5.46%
EBITDA Growth	-122.83%	-14.09%	-1.46%	60.77%	507.04%	71.09%	14.54%	10.71%	14.19%	-102.28%	-17.88%
EBIT Growth	-116.24%	-8.12%	4.51%	59.03%	739.22%	62.54%	15.09%	11.36%	10.74%	-95.43%	-18.27%
NOPAT Growth	-113.95%	-3.63%	0.68%	48.95%	822.69%	53.56%	13.80%	12.01%	9.69%	-94.28%	-18.93%
Net Income Growth	-116.41%	-3.63%	0.68%	48.95%	714.29%	53.56%	13.80%	12.01%	9.69%	-94.28%	-18.93%
EPS Growth	-115.96%	-2.20%	0.93%	50.72%	733.33%	51.69%	13.76%	12.50%	9.47%	-94.81%	-19.35%
Operating Cash Flow Growth	10.16%	-20.37%	-32.40%	-17.60%	12.35%	1.56%	15.60%	22.95%	-9.66%	35.19%	26.59%
Free Cash Flow Firm Growth	1,265.12%	3,045.45%	56.17%	-79.87%	-115.53%	-127.30%	-157.08%	-193.02%	-128.84%	55.94%	114.55%
Invested Capital Growth	-29.58%	-27.32%	-15.79%	-3.17%	8.85%	14.08%	15.14%	7.92%	16.00%	4.35%	0.54%
Revenue Q/Q Growth	1.07%	5.26%	1.33%	4.77%	0.89%	5.18%	-0.87%	2.23%	2.90%	1.98%	-1.70%
EBITDA Q/Q Growth	-133.97%	460.56%	31.64%	-0.30%	-13.99%	51.56%	-4.46%	-3.63%	-11.29%	-103.03%	3,270.00%
EBIT Q/Q Growth	-122.47%	654.90%	31.10%	-2.70%	-9.70%	41.10%	0.23%	-5.85%	-10.20%	-94.18%	1,561.90%
NOPAT Q/Q Growth	-118.79%	769.47%	24.27%	-4.71%	-8.83%	42.25%	-7.90%	-6.21%	-10.73%	-92.58%	1,204.76%
Net Income Q/Q Growth	-122.11%	669.05%	24.27%	-4.71%	-8.83%	42.25%	-7.90%	-6.21%	-10.73%	-92.58%	1,204.76%
EPS Q/Q Growth	-121.74%	693.33%	22.47%	-4.59%	-8.65%	42.11%	-8.15%	-5.65%	-11.11%	-93.27%	1,328.57%
Operating Cash Flow Q/Q Growth	21.22%	-30.53%	-14.84%	14.91%	65.27%	-37.20%	-3.08%	22.22%	21.43%	-6.02%	-9.25%
Free Cash Flow Firm Q/Q Growth	35.58%	-0.76%	-45.66%	-72.46%	-204.61%	-74.43%	-13.60%	55.13%	-157.35%	66.42%	137.52%
Invested Capital Q/Q Growth	-11.54%	4.18%	1.06%	3.96%	-0.55%	9.19%	2.00%	-2.56%	6.89%	-1.78%	-1.73%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	-2.42%	8.30%	10.79%	10.27%	8.75%	12.61%	11.32%	10.67%	9.20%	-0.27%	8.82%
EBIT Margin	-1.74%	9.18%	11.88%	11.03%	9.87%	13.25%	12.53%	11.54%	10.07%	0.57%	9.71%
Profit (Net Income) Margin	-1.43%	7.75%	9.51%	8.65%	7.81%	10.57%	9.91%	9.10%	7.89%	0.57%	7.62%
Tax Burden Percent	82.35%	84.45%	80.05%	78.39%	79.14%	79.78%	79.16%	78.86%	78.39%	100.00%	78.51%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	15.55%	19.95%	21.61%	20.86%	20.22%	20.84%	21.14%	21.61%	0.00%	21.49%
Return on Invested Capital (ROIC)	-1.08%	6.78%	9.14%	8.87%	8.80%	11.48%	10.83%	10.05%	8.61%	0.61%	8.26%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.31%	6.78%	9.14%	8.87%	8.80%	11.48%	10.83%	10.05%	8.61%	0.61%	8.26%
Return on Net Nonoperating Assets (RNNOA)	-0.35%	1.76%	2.61%	2.90%	3.20%	3.62%	3.73%	3.32%	2.78%	0.18%	2.69%
Return on Equity (ROE)	-1.44%	8.54%	11.74%	11.77%	11.99%	15.10%	14.56%	13.37%	11.40%	0.80%	10.95%
Cash Return on Invested Capital (CROIC)	39.97%	36.71%	22.61%	9.65%	1.01%	-3.22%	-3.95%	2.72%	-4.61%	3.01%	6.23%
Operating Return on Assets (OROA)	-0.32%	1.69%	2.27%	2.18%	2.07%	2.78%	2.65%	2.46%	2.17%	0.12%	2.10%
Return on Assets (ROA)	-0.27%	1.43%	1.82%	1.71%	1.64%	2.21%	2.10%	1.94%	1.70%	0.12%	1.65%
Return on Common Equity (ROCE)	-1.44%	8.54%	11.74%	11.77%	11.99%	15.10%	14.56%	13.37%	11.40%	0.80%	10.95%
Return on Equity Simple (ROE_SIMPLE)	8.54%	0.00%	7.89%	8.90%	12.58%	0.00%	12.90%	12.96%	12.13%	0.00%	8.71%
Net Operating Profit after Tax (NOPAT)	-36	239	297	283	258	367	338	317	283	21	274
NOPAT Margin	-1.22%	7.75%	9.51%	8.65%	7.81%	10.57%	9.91%	9.10%	7.89%	0.57%	7.62%
Net Nonoperating Expense Percent (NNEP)	0.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	101.74%	90.82%	88.12%	88.97%	90.13%	86.76%	87.47%	88.46%	89.93%	99.43%	90.29%
Earnings before Interest and Taxes (EBIT)	-51	283	371	361	326	460	427	402	361	21	349
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-71	256	337	336	289	438	386	372	330	-10	317
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.07	1.15	1.10	1.09	1.15	1.07	1.25	1.25	1.23	1.25	1.34
Price to Tangible Book Value (P/TBV)	1.08	1.17	1.12	1.11	1.17	1.08	1.27	1.27	1.25	1.26	1.36
Price to Revenue (P/Rev)	0.74	0.84	0.79	0.77	0.77	0.80	0.90	0.91	0.95	0.93	0.96
Price to Earnings (P/E)	12.48	14.48	13.95	12.27	9.12	8.78	9.69	9.68	10.16	13.66	15.37
Dividend Yield	4.97%	4.39%	4.60%	4.66%	4.58%	4.30%	7.31%	7.18%	6.74%	6.86%	7.44%
Earnings Yield	8.01%	6.91%	7.17%	8.15%	10.97%	11.40%	10.32%	10.33%	9.85%	7.32%	6.51%
Enterprise Value to Invested Capital (EV/IC)	1.00	1.08	1.03	1.04	1.07	1.03	1.15	1.17	1.15	1.16	1.23
Enterprise Value to Revenue (EV/Rev)	0.93	1.04	0.98	1.00	0.99	1.01	1.13	1.10	1.13	1.10	1.13
Enterprise Value to EBITDA (EV/EBITDA)	14.01	16.55	16.19	14.40	10.35	9.47	10.48	10.09	10.33	14.47	16.10
Enterprise Value to EBIT (EV/EBIT)	12.99	14.96	14.26	12.82	9.40	8.74	9.65	9.28	9.56	12.88	14.34
Enterprise Value to NOPAT (EV/NOPAT)	15.78	17.86	17.31	15.90	11.70	11.00	12.19	11.70	12.08	16.27	18.15
Enterprise Value to Operating Cash Flow (EV/OCF)	4.14	4.87	5.16	5.65	5.54	5.80	6.45	6.07	6.60	6.07	6.01
Enterprise Value to Free Cash Flow (EV/FCFF)	2.07	2.46	4.18	10.59	109.61	0.00	0.00	44.46	0.00	39.30	19.72
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.34	0.33	0.32	0.36	0.38	0.31	0.36	0.30	0.28	0.28	0.29
Long-Term Debt to Equity	0.34	0.30	0.29	0.27	0.29	0.25	0.31	0.30	0.28	0.28	0.24
Financial Leverage	0.27	0.26	0.29	0.33	0.36	0.32	0.34	0.33	0.32	0.29	0.33
Leverage Ratio	6.11	5.98	6.46	6.87	7.33	6.82	6.94	6.90	6.69	6.43	6.64
Compound Leverage Factor	6.11	5.98	6.46	6.87	7.33	6.82	6.94	6.90	6.69	6.43	6.64
Debt to Total Capital	25.57%	24.55%	24.30%	26.68%	27.65%	23.45%	26.70%	23.13%	21.65%	22.05%	22.44%
Short-Term Debt to Total Capital	0.00%	2.14%	2.12%	6.65%	6.70%	4.26%	4.17%	0.00%	0.00%	0.00%	3.77%
Long-Term Debt to Total Capital	25.57%	22.40%	22.18%	20.03%	20.95%	19.20%	22.53%	23.13%	21.65%	22.05%	18.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	74.43%	75.45%	75.70%	73.32%	72.35%	76.55%	73.30%	76.87%	78.35%	77.95%	77.56%
Debt to EBITDA	3.57	3.78	3.81	3.70	2.69	2.17	2.43	2.00	1.95	2.76	2.95
Net Debt to EBITDA	2.93	3.13	3.15	3.28	2.29	1.92	2.15	1.75	1.65	2.32	2.47
Long-Term Debt to EBITDA	3.57	3.45	3.47	2.78	2.04	1.77	2.05	2.00	1.95	2.76	2.45
Debt to NOPAT	4.02	4.08	4.07	4.09	3.04	2.52	2.83	2.32	2.28	3.10	3.32
Net Debt to NOPAT	3.30	3.38	3.36	3.63	2.59	2.23	2.50	2.03	1.93	2.61	2.78
Long-Term Debt to NOPAT	4.02	3.72	3.71	3.07	2.30	2.06	2.38	2.32	2.28	3.10	2.76
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,532	4,498	2,444	673	-704	-1,228	-1,395	-626	-1,611	-541	203
Operating Cash Flow to CapEx	4,606.25%	4,654.55%	2,180.00%	2,178.26%	3,450.00%	2,260.87%	2,520.00%	3,242.11%	4,155.56%	1,850.00%	3,544.44%
Free Cash Flow to Firm to Interest Expense	161.87	160.64	87.29	21.71	-20.71	-36.12	-39.86	-18.41	-50.34	-16.91	6.34
Operating Cash Flow to Interest Expense	26.32	18.29	15.57	16.16	24.35	15.29	14.40	18.12	23.38	21.97	19.94
Operating Cash Flow Less CapEx to Interest Expense	25.75	17.89	14.86	15.42	23.65	14.62	13.83	17.56	22.81	20.78	19.38
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.18	0.19	0.20	0.21	0.21	0.21	0.21	0.22	0.22	0.22
Fixed Asset Turnover	50.58	52.07	52.67	52.47	52.60	55.00	55.15	54.13	54.19	51.59	52.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,874	11,329	11,449	11,902	11,836	12,924	13,182	12,845	13,730	13,486	13,253
Invested Capital Turnover	0.89	0.87	0.96	1.03	1.13	1.09	1.09	1.10	1.09	1.07	1.08
Increase / (Decrease) in Invested Capital	-4,568	-4,259	-2,147	-390	962	1,595	1,733	943	1,894	562	71
Enterprise Value (EV)	10,902	12,178	11,838	12,355	12,605	13,260	15,185	14,982	15,771	15,602	16,248
Market Capitalization	8,625	9,872	9,539	9,537	9,817	10,574	12,074	12,386	13,255	13,101	13,757
Book Value per Share	$29.83	$31.55	$31.99	$32.22	$31.61	$36.52	$35.57	$36.40	$39.72	$38.82	$37.95
Tangible Book Value per Share	$29.31	$31.02	$31.46	$31.68	$31.08	$35.98	$35.04	$35.86	$39.18	$38.28	$37.41
Total Capital	10,874	11,329	11,449	11,902	11,836	12,924	13,182	12,845	13,730	13,486	13,253
Total Debt	2,780	2,781	2,782	3,176	3,273	3,031	3,520	2,971	2,972	2,973	2,974
Total Long-Term Debt	2,780	2,538	2,539	2,384	2,480	2,481	2,970	2,971	2,972	2,973	2,474
Net Debt	2,277	2,306	2,299	2,818	2,788	2,686	3,111	2,596	2,516	2,501	2,491
Capital Expenditures (CapEx)	16	11	20	23	24	23	20	19	18	38	18
Net Nonoperating Expense (NNE)	6.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	2,780	2,781	2,782	3,176	3,273	3,031	3,520	2,971	2,972	2,973	2,974
Total Depreciation and Amortization (D&A)	-20	-27	-34	-25	-37	-22	-41	-30	-31	-31	-32
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.47	$0.88	$1.10	$1.04	$0.95	$1.35	$1.24	$1.17	$1.04	$0.08	$1.01
Adjusted Weighted Average Basic Shares Outstanding	271.40M	271.60M	271.30M	271.20M	271.20M	271.30M	271.60M	271.60M	271.30M	271.50M	271.30M
Adjusted Diluted Earnings per Share	$0.47	$0.89	$1.09	$1.04	$0.95	$1.35	$1.24	$1.17	$1.04	$0.07	$1.00
Adjusted Weighted Average Diluted Shares Outstanding	272.30M	272.50M	272.30M	272M	272.30M	272.20M	272.70M	272.60M	272.70M	272.70M	272.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	270.89M	270.90M	270.85M	270.86M	270.87M	270.90M	271.28M	270.84M	270.84M	270.86M	270.62M
Normalized Net Operating Profit after Tax (NOPAT)	-36	239	297	283	258	367	338	317	283	15	274
Normalized NOPAT Margin	-1.22%	7.75%	9.51%	8.65%	7.81%	10.57%	9.91%	9.10%	7.89%	0.40%	7.62%
Pre Tax Income Margin	-1.74%	9.18%	11.88%	11.03%	9.87%	13.25%	12.53%	11.54%	10.07%	0.57%	9.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.82	10.11	13.25	11.65	9.59	13.53	12.20	11.82	11.28	0.66	10.91
NOPAT to Interest Expense	-1.28	8.54	10.61	9.13	7.59	10.79	9.66	9.32	8.84	0.66	8.56
EBIT Less CapEx to Interest Expense	-2.39	9.71	12.54	10.90	8.88	12.85	11.63	11.26	10.72	-0.53	10.34
NOPAT Less CapEx to Interest Expense	-1.85	8.14	9.89	8.39	6.88	10.12	9.09	8.76	8.28	-0.53	8.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	141.39%	143.99%	112.57%	99.87%	72.52%	65.31%	80.98%	79.22%	78.16%	106.88%	115.20%
Augmented Payout Ratio	147.03%	149.71%	118.71%	105.28%	74.74%	67.30%	80.98%	80.78%	79.69%	108.97%	121.23%

Key Financial Trends

Financial Performance Overview for CNA Financial (NYSE:CNA) over the last four years:

Consistent positive net income with significant improvement from Q3 2022 loss to strong profits in 2023 and 2024 quarters, culminating in Q1 2025 net income of $274 million.
Growing Premiums Earned from approximately $2.22 billion in Q3 2022 to $2.63 billion in Q1 2025, indicating growth in business volume.
Stable or growing Total Non-Interest Income, reaching $3.63 billion in Q1 2025, supported by strong realized and unrealized capital gains ($595 million in Q1 2025).
Operating cash flow remains strong and positive across all quarters, with net cash from continuing operating activities growing to $638 million in Q1 2025, highlighting good cash generation.
Measured capital expenditures and investments, with purchases of property and equipment and securities reflecting ongoing investment and asset management strategies but remaining controlled.
Stable shareholder returns thru dividends, with cash dividends per share rising in some quarters and reaching $2.46 per share in Q1 2025, showing commitment to returning capital.
Consistent amortization expense around $440-$470 million per quarter, a non-cash charge reflecting the amortization of intangible assets but a continued drag on earnings.
Long-term debt interest expense remains stable around $32-$35 million per quarter, indicating steady financing costs without significant increase.
Total non-interest expense has gradually increased, reaching $3.25 billion in Q1 2025 from $2.98 billion in Q1 2023, exerting pressure on profitability.
Total liabilities increased over time, reaching $57 billion by Q1 2025 from about $53 billion in Q3 2022, representing rising obligations which may necessitate careful management.

Summary: CNA Financial has shown consistent profitability growth and strong premium income over the last several years. The company’s cash flow from operations remains robust, supporting both investing activities and shareholder dividends. The rise in non-interest expenses and total liabilities warrants monitoring; however, solid investment gains and stable interest expenses contribute positively to earnings. Dividends per share have increased, rewarding shareholders.

Overall, CNA appears financially healthy with positive trends in revenue and net income, balanced by manageable expenses and liabilities. Retail investors may view CNA as a steady insurance sector player with growing earnings and shareholder returns.

08/04/25 05:36 AMAI Generated. May Contain Errors.

Frequently Asked Questions About CNA Financial's Financials

When does CNA Financial's fiscal year end?

According to the most recent income statement we have on file, CNA Financial's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has CNA Financial's net income changed over the last 9 years?

CNA Financial's net income appears to be on an upward trend, with a most recent value of $959 million in 2024, rising from $479 million in 2015. The previous period was $1.21 billion in 2023. View CNA Financial's forecast to see where analysts expect CNA Financial to go next.

How has CNA Financial's revenue changed over the last 9 years?

Over the last 9 years, CNA Financial's total revenue changed from $8.95 billion in 2015 to $14.14 billion in 2024, a change of 58.0%.

How much debt does CNA Financial have?

CNA Financial's total liabilities were at $55.98 billion at the end of 2024, a 2.1% increase from 2023, and a 29.3% increase since 2015.

How much cash does CNA Financial have?

In the past 9 years, CNA Financial's cash and equivalents has ranged from $242 million in 2019 to $536 million in 2021, and is currently $472 million as of their latest financial filing in 2024.

How has CNA Financial's book value per share changed over the last 9 years?

Over the last 9 years, CNA Financial's book value per share changed from 43.50 in 2015 to 38.82 in 2024, a change of -10.8%.

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This page (NYSE:CNA) was last updated on 8/4/2025 by MarketBeat.com Staff

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CNA Financial (CNA) Financials

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CNA Financial (CNA) Financials

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