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CNA Financial (CNA) Financials

CNA Financial logo
$43.73 +0.00 (+0.01%)
Closing price 05/15/2026 03:59 PM Eastern
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$43.52 -0.22 (-0.50%)
As of 07:06 AM Eastern
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Annual Income Statements for CNA Financial

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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 479 859 899 813 1,000 690 1,184 682 1,205 959 1,278
Consolidated Net Income / (Loss)		 479 859 899 813 1,000 690 1,184 682 1,205 959 1,278
Net Income / (Loss) Continuing Operations		 479 859 899 813 1,000 690 1,184 682 1,205 959 1,278
Total Pre-Tax Income 		549 1,137 1,310 964 1,223 821 1,462 814 1,518 1,211 1,620
Total Revenue		 8,946 9,207 9,381 9,996 10,767 10,686 11,795 11,767 13,172 14,137 14,854
Net Interest Income / (Expense)		 -155 -159 -161 -138 -131 -122 -113 -112 -127 -133 -135
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 155 159 161 138 131 122 113 112 127 133 135
Long-Term Debt Interest Expense		 155 159 161 138 131 122 113 112 127 133 135
Total Non-Interest Income		 9,101 9,366 9,542 10,134 10,767 10,808 11,908 11,879 13,299 14,270 14,989
Other Service Charges		 407 43 37 50 31 26 24 32 30 34 36
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 2,476
Premiums Earned		 6,921 6,924 6,988 7,312 7,428 7,649 8,175 8,667 9,480 10,211 10,900
Other Non-Interest Income		 - 361 390 1,007 1,161 1,252 1,430 1,574 1,624 1,609 1,577
Total Non-Interest Expense		 8,397 8,070 8,071 9,032 9,544 9,865 10,333 10,953 11,654 12,926 13,234
Current and Future Benefits		 5,384 5,283 5,310 5,572 5,806 6,170 - 6,653 7,068 7,738 8,294
Other Operating Expenses		 1,473 1,552 1,528 2,125 2,224 2,285 2,519 2,810 2,942 3,390 3,042
Amortization Expense		 1,540 1,235 1,233 1,335 1,383 1,410 1,443 1,490 1,644 1,798 1,898
Income Tax Expense		 70 278 411 151 223 131 278 132 313 252 342
Basic Earnings per Share		 $1.77 $3.18 $3.32 $2.99 $3.68 $2.54 $4.36 $2.51 $4.44 $3.53 $4.71
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 271.20M
Diluted Earnings per Share		 $1.77 $3.17 $3.30 $2.98 $3.67 $2.53 $4.34 $2.51 $4.43 $3.52 $4.69
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 272.40M
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 270.67M
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 $3.84

Quarterly Income Statements for CNA Financial

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 258 367 338 317 283 21 274 299 403 302 211
Consolidated Net Income / (Loss)		 258 367 338 317 283 21 274 299 403 302 211
Net Income / (Loss) Continuing Operations		 258 367 338 317 283 21 274 299 403 302 211
Total Pre-Tax Income 		326 460 427 402 361 21 349 380 513 378 267
Total Revenue		 3,302 3,473 3,409 3,485 3,586 3,657 3,595 3,686 3,781 3,792 3,644
Net Interest Income / (Expense)		 -34 -34 -35 -34 -32 -32 -32 -31 -36 -36 -33
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 34 34 35 34 32 32 32 31 36 36 33
Long-Term Debt Interest Expense		 34 34 35 34 32 32 32 31 36 36 33
Total Non-Interest Income		 3,336 3,507 3,444 3,519 3,618 3,689 3,627 3,717 3,817 3,828 3,677
Other Service Charges		 8.00 8.00 9.00 9.00 8.00 8.00 9.00 9.00 10 8.00 10
Net Realized & Unrealized Capital Gains on Investments		 515 617 587 608 616 605 595 616 631 634 592
Premiums Earned		 2,406 2,479 2,441 2,498 2,593 2,679 2,626 2,694 2,783 2,797 2,701
Other Non-Interest Income		 407 403 407 404 401 397 397 398 393 389 374
Total Non-Interest Expense		 2,976 3,013 2,982 3,083 3,225 3,636 3,246 3,306 3,268 3,414 3,377
Current and Future Benefits		 1,826 1,810 1,807 1,882 2,019 2,030 2,027 2,085 2,032 2,150 2,175
Other Operating Expenses		 724 767 731 766 749 1,144 748 752 753 789 726
Amortization Expense		 426 436 444 435 457 462 471 469 483 475 476
Income Tax Expense		 68 93 89 85 78 - 75 81 110 76 56
Basic Earnings per Share		 $0.95 $1.35 $1.24 $1.17 $1.04 $0.08 $1.01 $1.10 $1.49 $1.11 $0.78
Weighted Average Basic Shares Outstanding		 271.20M 271.30M 271.60M 271.60M 271.30M 271.50M 271.30M 271.10M 271.10M 271.20M 271.10M
Diluted Earnings per Share		 $0.95 $1.35 $1.24 $1.17 $1.04 $0.07 $1.00 $1.10 $1.48 $1.11 $0.78
Weighted Average Diluted Shares Outstanding		 272.30M 272.20M 272.70M 272.60M 272.70M 272.70M 272.60M 272.20M 272.30M 272.40M 272.30M
Weighted Average Basic & Diluted Shares Outstanding		 270.87M 270.90M 271.28M 270.84M 270.84M 270.86M 270.62M 270.67M 270.67M 270.67M 270.53M
Cash Dividends to Common per Share		 $0.42 - $2.44 $0.44 $0.44 - $2.46 $0.46 $0.46 - $2.48

Annual Cash Flow Statements for CNA Financial

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 2025
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 12/31/2025
Net Change in Cash & Equivalents		 197 -116 84 -35 -68 177 117 -61 -130 127 -47
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 2,490
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 2,490
Net Income / (Loss) Continuing Operations		 479 859 899 813 1,000 690 1,184 682 1,205 959 1,278
Consolidated Net Income / (Loss)		 479 859 899 813 1,000 690 1,184 682 1,205 959 1,278
Depreciation Expense		 84 77 88 79 68 60 54 51 73 67 70
Amortization Expense		 17 -27 -40 -70 -89 -67 -81 -129 -191 -200 -208
Non-Cash Adjustments to Reconcile Net Income		 110 353 212 401 -289 -148 -280 168 -99 355 46
Changes in Operating Assets and Liabilities, net		 697 154 95 4.00 450 1,240 1,120 1,730 1,297 1,390 1,304
Net Cash From Investing Activities		 -372 -846 -424 -177 -225 -705 -1,228 -1,512 -1,843 -1,317 -1,449
Net Cash From Continuing Investing Activities		 -372 -846 -424 -177 -225 -705 -1,228 -1,512 -1,843 -1,317 -1,449
Purchase of Property, Leasehold Improvements and Equipment		 -125 -146 -102 -99 -26 -23 -26 -52 -90 -95 -86
Purchase of Investment Securities		 -8,925 -10,079 -9,411 -11,474 -9,354 -11,164 -10,146 -10,644 -7,440 -7,283 -8,237
Sale of Property, Leasehold Improvements and Equipment		 0.00 107 - - - - - - 0.00 0.00 12
Sale and/or Maturity of Investments		 8,801 9,392 9,363 11,506 9,155 10,482 8,944 9,184 5,687 6,061 6,862
Net Cash From Financing Activities		 -807 -673 -755 -1,085 -988 -902 -648 -1,032 -577 -1,117 -1,104
Net Cash From Continuing Financing Activities		 -807 -673 -755 -1,085 -988 -902 -648 -1,032 -577 -1,117 -1,104
Issuance of Debt		 0.00 498 496 0.00 496 495 0.00 0.00 491 490 495
Repayment of Debt		 0.00 -358 -391 -189 -520 -419 0.00 0.00 -243 -550 -500
Repurchase of Common Equity		 - - 0.00 0.00 -23 -18 -18 -39 -24 -20 -34
Payment of Dividends		 -811 -813 -842 -896 -929 -950 -621 -982 -787 -1,025 -1,047
Other Financing Activities, Net		 4.00 0.00 -18 - -12 -10 -9.00 -11 -14 -12 -18
Effect of Exchange Rate Changes		 -11 -13 9.00 - 5.00 9.00 -4.00 -19 5.00 -10 16

Quarterly Cash Flow Statements for CNA Financial

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 127 -140 64 -34 81 16 11 -110 110 -58 97
Net Cash From Operating Activities		 828 520 504 616 748 703 638 562 720 570 393
Net Cash From Continuing Operating Activities		 828 520 504 616 748 703 638 562 720 570 393
Net Income / (Loss) Continuing Operations		 258 367 338 317 283 21 274 299 403 302 211
Consolidated Net Income / (Loss)		 258 367 338 317 283 21 274 299 403 302 211
Depreciation Expense		 16 29 16 18 17 16 17 18 18 17 20
Amortization Expense		 -53 -51 -57 -48 -48 -47 -49 -47 -53 -59 -57
Non-Cash Adjustments to Reconcile Net Income		 195 -136 -36 14 -40 417 14 -4.00 -118 154 -192
Changes in Operating Assets and Liabilities, net		 412 311 243 315 536 296 382 296 470 156 411
Net Cash From Investing Activities		 -679 -306 -249 40 -553 -555 88 -559 -975 -3.00 444
Net Cash From Continuing Investing Activities		 -679 -306 -249 40 -553 -555 88 -559 -975 -3.00 444
Purchase of Property, Leasehold Improvements and Equipment		 -24 -23 -20 -19 -18 -38 -18 -24 -16 -28 -13
Purchase of Investment Securities		 -2,225 -1,291 -1,689 -1,850 -1,895 -1,646 -1,488 -2,278 -2,546 -1,389 -1,774
Sale and/or Maturity of Investments		 1,570 1,008 1,460 1,909 1,360 1,129 1,594 1,743 1,587 1,402 2,231
Net Cash From Financing Activities		 -18 -359 -189 -689 -120 -119 -722 -125 369 -626 -736
Net Cash From Continuing Financing Activities		 -18 -359 -189 -689 -120 -119 -722 -125 369 -626 -736
Repurchase of Common Equity		 - - 0.00 -20 - - -34 - - - -36
Payment of Dividends		 -114 -114 -667 -119 -120 -119 -673 -125 -124 -125 -682
Other Financing Activities, Net		 - -2.00 -12 - - - -15 - -2.00 -1.00 -18
Effect of Exchange Rate Changes		 -4.00 5.00 -2.00 -1.00 6.00 -13 7.00 12 -4.00 1.00 -4.00

Annual Balance Sheets for CNA Financial

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 2025
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 12/31/2025
Total Assets		 55,045 55,233 56,567 57,152 60,612 64,026 66,639 61,000 64,711 66,492 69,443
Cash and Due from Banks		 387 271 355 310 242 419 536 475 345 472 425
Trading Account Securities		 39,769 41,015 42,182 40,326 43,072 45,623 45,415 38,301 41,108 41,770 44,171
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 0.00
Accrued Investment Income		 404 405 411 391 395 380 377 402 444 451 480
Premises and Equipment, Net		 343 310 326 324 282 252 226 226 253 295 282
Mortgage Servicing Rights		 678 591 839 839 994 1,068 973 1,040 1,035 1,019 1,079
Unearned Premiums Asset		 2,078 2,209 2,292 2,323 2,449 2,607 2,945 3,158 3,442 3,671 3,739
Deferred Acquisition Cost		 598 600 634 633 662 708 737 4,477 4,557 4,484 986
Goodwill		 150 145 148 146 147 148 148 144 146 145 148
Other Assets		 10,638 9,687 9,380 11,860 12,369 12,821 15,282 12,777 13,381 14,185 18,133
Total Liabilities & Shareholders' Equity		 55,045 55,233 56,567 57,152 60,612 64,026 66,639 61,000 64,711 66,492 69,443
Total Liabilities		 43,289 43,264 44,323 45,935 48,397 51,319 53,830 52,452 54,818 55,979 57,822
Long-Term Debt		 2,210 2,710 2,708 2,680 2,679 2,776 2,779 2,538 2,481 2,973 2,971
Claims and Claim Expense		 22,663 22,343 22,004 21,984 21,720 22,706 24,174 22,120 23,304 24,976 26,599
Future Policy Benefits		 10,152 10,326 11,179 10,597 12,311 13,318 13,236 13,480 13,959 13,158 13,448
Unearned Premiums Liability		 3,671 3,762 4,029 4,183 4,583 5,119 5,761 6,374 6,933 7,346 7,635
Other Long-Term Liabilities		 4,243 4,123 4,253 6,491 7,104 7,400 7,880 7,697 7,591 7,526 7,169
Commitments & Contingencies		 - 0.00 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 11,621
Total Preferred & Common Equity		 11,756 11,969 12,244 11,217 12,215 12,707 12,809 8,548 9,893 10,513 11,621
Total Common Equity		 11,756 11,969 12,244 11,217 12,215 12,707 12,809 8,548 9,893 10,513 11,621
Common Stock		 2,836 2,856 2,858 2,875 2,886 2,894 2,898 2,903 2,904 2,912 2,912
Retained Earnings		 9,313 9,359 9,414 9,277 9,348 9,081 9,663 9,336 9,755 9,686 9,915
Treasury Stock		 -78 -73 -60 -57 -70 -71 -72 -93 -94 -94 -108
Accumulated Other Comprehensive Income / (Loss)		 -315 -173 32 -878 51 803 320 -3,598 -2,672 -1,991 -1,098

Quarterly Balance Sheets for CNA Financial

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 Q2 2025 Q3 2025 Q1 2026
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 6/30/2025 9/30/2025 3/31/2026
Total Assets		 60,215 62,055 63,088 61,952 65,075 65,194 67,356 67,326 68,936 69,756 68,559
Cash and Due from Banks		 503 483 358 485 409 375 456 483 373 483 522
Trading Account Securities		 38,142 39,789 39,411 38,548 41,296 41,072 43,247 42,668 43,526 44,428 44,015
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 0.00
Accrued Investment Income		 411 415 424 441 447 453 460 465 461 480 487
Premises and Equipment, Net		 229 232 246 257 256 259 258 291 297 283 287
Mortgage Servicing Rights		 953 1,006 1,009 995 1,029 986 1,003 1,049 1,040 1,055 1,055
Unearned Premiums Asset		 2,986 3,126 3,521 3,211 3,432 3,816 3,489 3,703 4,062 3,666 3,720
Deferred Acquisition Cost		 787 4,523 4,574 4,568 4,548 4,546 943 4,492 1,021 4,325 4,106
Goodwill		 142 145 146 145 146 146 147 146 148 148 147
Other Assets		 16,062 12,336 13,399 13,302 13,512 13,541 17,353 14,029 18,008 14,888 14,220
Total Liabilities & Shareholders' Equity		 60,215 62,055 63,088 61,952 65,075 65,194 67,356 67,326 68,936 69,756 68,559
Total Liabilities		 52,121 53,388 54,362 53,389 55,413 55,320 56,598 57,047 58,275 58,434 57,702
Long-Term Debt		 2,780 2,539 2,384 2,480 2,970 2,971 2,972 2,474 2,475 2,970 2,972
Claims and Claim Expense		 24,700 22,409 22,802 22,836 23,588 23,974 24,558 25,581 26,203 26,525 26,933
Future Policy Benefits		 10,454 13,976 13,666 12,654 13,513 13,211 14,047 13,304 13,329 13,546 13,195
Unearned Premiums Liability		 6,195 6,581 6,978 6,789 7,046 7,409 7,259 7,504 7,890 7,578 7,646
Other Long-Term Liabilities		 7,992 7,640 7,740 7,837 7,746 7,755 7,762 7,684 7,878 7,315 6,956
Commitments & Contingencies		 0.00 0.00 0.00 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 10,661 11,322 10,857
Total Preferred & Common Equity		 8,094 8,667 8,726 8,563 9,662 9,874 10,758 10,279 10,661 11,322 10,857
Total Common Equity		 8,094 8,667 8,726 8,563 9,662 9,874 10,758 10,279 10,661 11,322 10,857
Common Stock		 2,894 2,879 2,887 2,896 2,884 2,893 2,904 2,887 2,896 2,903 2,878
Retained Earnings		 9,433 9,191 9,359 9,503 9,425 9,623 9,785 9,287 9,460 9,739 9,448
Treasury Stock		 -94 -95 -95 -95 -75 -95 -94 -110 -109 -109 -120
Accumulated Other Comprehensive Income / (Loss)		 -4,139 -3,308 -3,425 -3,741 -2,572 -2,547 -1,837 -1,785 -1,586 -1,211 -1,349

Annual Metrics And Ratios for CNA Financial

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 2025
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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
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 $4.71
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 271.20M
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 $4.69
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 272.40M
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		 270.27M 270.50M 271.22M 271.47M 271.41M 271.39M 271.37M 270.90M 270.90M 270.86M 270.67M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for CNA Financial

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 270,673,371.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 270,673,371.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.78
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 12.73% 12.65% 9.12% 6.48% 8.60% 5.30% 5.46% 5.77% 5.44% - 1.36%
EBITDA Growth		 507.04% 71.09% 14.54% 10.71% 14.19% -102.28% -17.88% -5.65% 44.85% - -27.44%
EBIT Growth		 739.22% 62.54% 15.09% 11.36% 10.74% -95.43% -18.27% -5.47% 42.11% - -23.50%
NOPAT Growth		 822.69% 53.56% 13.80% 12.01% 9.69% -94.28% -18.93% -5.68% 42.40% - -22.99%
Net Income Growth		 714.29% 53.56% 13.80% 12.01% 9.69% -94.28% -18.93% -5.68% 42.40% - -22.99%
EPS Growth		 733.33% 51.69% 13.76% 12.50% 9.47% -94.81% -19.35% -5.98% 42.31% - -22.00%
Operating Cash Flow Growth		 12.35% 1.56% 15.60% 22.95% -9.66% 35.19% 26.59% -8.77% -3.74% - -38.40%
Free Cash Flow Firm Growth		 -115.53% -127.30% -157.08% -193.02% -128.84% 55.94% 114.55% 21.41% 59.09% - -279.80%
Invested Capital Growth		 8.85% 14.08% 15.14% 7.92% 16.00% 4.35% 0.54% 6.16% 7.73% - 4.35%
Revenue Q/Q Growth		 0.89% 5.18% -0.87% 2.23% 2.90% 1.98% -1.70% 2.53% 2.58% - -3.90%
EBITDA Q/Q Growth		 -13.99% 51.56% -4.46% -3.63% -11.29% -103.03% 3,270.00% 10.73% 36.18% - -31.55%
EBIT Q/Q Growth		 -9.70% 41.10% 0.23% -5.85% -10.20% -94.18% 1,561.90% 8.88% 35.00% - -29.37%
NOPAT Q/Q Growth		 -8.83% 42.25% -7.90% -6.21% -10.73% -92.58% 1,204.76% 9.12% 34.78% - -30.13%
Net Income Q/Q Growth		 -8.83% 42.25% -7.90% -6.21% -10.73% -92.58% 1,204.76% 9.12% 34.78% - -30.13%
EPS Q/Q Growth		 -8.65% 42.11% -8.15% -5.65% -11.11% -93.27% 1,328.57% 10.00% 34.55% - -29.73%
Operating Cash Flow Q/Q Growth		 65.27% -37.20% -3.08% 22.22% 21.43% -6.02% -9.25% -11.91% 28.11% - -31.05%
Free Cash Flow Firm Q/Q Growth		 -204.61% -74.43% -13.60% 55.13% -157.35% 66.42% 137.52% -342.36% -33.94% - 54.60%
Invested Capital Q/Q Growth		 -0.55% 9.19% 2.00% -2.56% 6.89% -1.78% -1.73% 2.89% 8.48% - -5.23%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 8.75% 12.61% 11.32% 10.67% 9.20% -0.27% 8.82% 9.52% 12.64% - 6.31%
EBIT Margin		 9.87% 13.25% 12.53% 11.54% 10.07% 0.57% 9.71% 10.31% 13.57% - 7.33%
Profit (Net Income) Margin		 7.81% 10.57% 9.91% 9.10% 7.89% 0.57% 7.62% 8.11% 10.66% - 5.79%
Tax Burden Percent		 79.14% 79.78% 79.16% 78.86% 78.39% 100.00% 78.51% 78.68% 78.56% - 79.03%
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		 20.86% 20.22% 20.84% 21.14% 21.61% 0.00% 21.49% 21.32% 21.44% - 20.97%
Return on Invested Capital (ROIC)		 8.80% 11.48% 10.83% 10.05% 8.61% 0.61% 8.26% 8.90% 11.00% - 6.37%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.80% 11.48% 10.83% 10.05% 8.61% 0.61% 8.26% 8.90% 11.00% - 6.37%
Return on Net Nonoperating Assets (RNNOA)		 3.20% 3.62% 3.73% 3.32% 2.78% 0.18% 2.69% 2.58% 3.21% - 1.79%
Return on Equity (ROE)		 11.99% 15.10% 14.56% 13.37% 11.40% 0.80% 10.95% 11.47% 14.21% - 8.17%
Cash Return on Invested Capital (CROIC)		 1.01% -3.22% -3.95% 2.72% -4.61% 3.01% 6.23% 0.65% -0.46% - 4.72%
Operating Return on Assets (OROA)		 2.07% 2.78% 2.65% 2.46% 2.17% 0.12% 2.10% 2.23% 2.91% - 1.61%
Return on Assets (ROA)		 1.64% 2.21% 2.10% 1.94% 1.70% 0.12% 1.65% 1.76% 2.29% - 1.27%
Return on Common Equity (ROCE)		 11.99% 15.10% 14.56% 13.37% 11.40% 0.80% 10.95% 11.47% 14.21% - 8.17%
Return on Equity Simple (ROE_SIMPLE)		 12.58% 0.00% 12.90% 12.96% 12.13% 0.00% 8.71% 8.23% 8.81% - 11.19%
Net Operating Profit after Tax (NOPAT)		 258 367 338 317 283 21 274 299 403 - 211
NOPAT Margin		 7.81% 10.57% 9.91% 9.10% 7.89% 0.57% 7.62% 8.11% 10.66% - 5.79%
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		 90.13% 86.76% 87.47% 88.46% 89.93% 99.43% 90.29% 89.69% 86.43% - 92.67%
Earnings before Interest and Taxes (EBIT)		 326 460 427 402 361 21 349 380 513 - 267
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 289 438 386 372 330 -10 317 351 478 - 230
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.15 1.07 1.25 1.25 1.23 1.25 1.34 1.18 1.11 - 1.14
Price to Tangible Book Value (P/TBV)		 1.17 1.08 1.27 1.27 1.25 1.26 1.36 1.20 1.13 - 1.16
Price to Revenue (P/Rev)		 0.77 0.80 0.90 0.91 0.95 0.93 0.96 0.87 0.85 - 0.83
Price to Earnings (P/E)		 9.12 8.78 9.69 9.68 10.16 13.66 15.37 14.36 12.61 - 10.23
Dividend Yield		 4.58% 4.30% 7.31% 7.18% 6.74% 6.86% 7.44% 8.17% 8.22% - 8.41%
Earnings Yield		 10.97% 11.40% 10.32% 10.33% 9.85% 7.32% 6.51% 6.96% 7.93% - 9.78%
Enterprise Value to Invested Capital (EV/IC)		 1.07 1.03 1.15 1.17 1.15 1.16 1.23 1.11 1.05 - 1.08
Enterprise Value to Revenue (EV/Rev)		 0.99 1.01 1.13 1.10 1.13 1.10 1.13 1.05 1.06 - 1.00
Enterprise Value to EBITDA (EV/EBITDA)		 10.35 9.47 10.48 10.09 10.33 14.47 16.10 15.38 13.70 - 10.67
Enterprise Value to EBIT (EV/EBIT)		 9.40 8.74 9.65 9.28 9.56 12.88 14.34 13.68 12.32 - 9.67
Enterprise Value to NOPAT (EV/NOPAT)		 11.70 11.00 12.19 11.70 12.08 16.27 18.15 17.33 15.61 - 12.25
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.54 5.80 6.45 6.07 6.60 6.07 6.01 5.73 5.93 - 6.63
Enterprise Value to Free Cash Flow (EV/FCFF)		 109.61 0.00 0.00 44.46 0.00 39.30 19.72 176.67 0.00 - 23.29
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.38 0.31 0.36 0.30 0.28 0.28 0.29 0.28 0.31 - 0.27
Long-Term Debt to Equity		 0.29 0.25 0.31 0.30 0.28 0.28 0.24 0.23 0.26 - 0.27
Financial Leverage		 0.36 0.32 0.34 0.33 0.32 0.29 0.33 0.29 0.29 - 0.28
Leverage Ratio		 7.33 6.82 6.94 6.90 6.69 6.43 6.64 6.53 6.21 - 6.43
Compound Leverage Factor		 7.33 6.82 6.94 6.90 6.69 6.43 6.64 6.53 6.21 - 6.43
Debt to Total Capital		 27.65% 23.45% 26.70% 23.13% 21.65% 22.05% 22.44% 21.82% 23.46% - 21.49%
Short-Term Debt to Total Capital		 6.70% 4.26% 4.17% 0.00% 0.00% 0.00% 3.77% 3.67% 3.38% - 0.00%
Long-Term Debt to Total Capital		 20.95% 19.20% 22.53% 23.13% 21.65% 22.05% 18.67% 18.15% 20.08% - 21.49%
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		 72.35% 76.55% 73.30% 76.87% 78.35% 77.95% 77.56% 78.18% 76.54% - 78.51%
Debt to EBITDA		 2.69 2.17 2.43 2.00 1.95 2.76 2.95 3.01 3.05 - 2.13
Net Debt to EBITDA		 2.29 1.92 2.15 1.75 1.65 2.32 2.47 2.63 2.63 - 1.76
Long-Term Debt to EBITDA		 2.04 1.77 2.05 2.00 1.95 2.76 2.45 2.51 2.61 - 2.13
Debt to NOPAT		 3.04 2.52 2.83 2.32 2.28 3.10 3.32 3.39 3.48 - 2.45
Net Debt to NOPAT		 2.59 2.23 2.50 2.03 1.93 2.61 2.78 2.97 3.00 - 2.02
Long-Term Debt to NOPAT		 2.30 2.06 2.38 2.32 2.28 3.10 2.76 2.82 2.98 - 2.45
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)		 -704 -1,228 -1,395 -626 -1,611 -541 203 -492 -659 - -365
Operating Cash Flow to CapEx		 3,450.00% 2,260.87% 2,520.00% 3,242.11% 4,155.56% 1,850.00% 3,544.44% 2,341.67% 4,500.00% - 3,023.08%
Free Cash Flow to Firm to Interest Expense		 -20.71 -36.12 -39.86 -18.41 -50.34 -16.91 6.34 -15.87 -18.31 - -11.06
Operating Cash Flow to Interest Expense		 24.35 15.29 14.40 18.12 23.38 21.97 19.94 18.13 20.00 - 11.91
Operating Cash Flow Less CapEx to Interest Expense		 23.65 14.62 13.83 17.56 22.81 20.78 19.38 17.35 19.56 - 11.52
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.21 0.21 0.21 0.21 0.22 0.22 0.22 0.22 0.21 - 0.22
Fixed Asset Turnover		 52.60 55.00 55.15 54.13 54.19 51.59 52.37 52.24 54.41 - 51.57
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 11,836 12,924 13,182 12,845 13,730 13,486 13,253 13,636 14,792 - 13,829
Invested Capital Turnover		 1.13 1.09 1.09 1.10 1.09 1.07 1.08 1.10 1.03 - 1.10
Increase / (Decrease) in Invested Capital		 962 1,595 1,733 943 1,894 562 71 791 1,062 - 576
Enterprise Value (EV)		 12,605 13,260 15,185 14,982 15,771 15,602 16,248 15,194 15,562 - 14,879
Market Capitalization		 9,817 10,574 12,074 12,386 13,255 13,101 13,757 12,592 12,575 - 12,429
Book Value per Share		 $31.61 $36.52 $35.57 $36.40 $39.72 $38.82 $37.95 $39.39 $41.83 - $40.11
Tangible Book Value per Share		 $31.08 $35.98 $35.04 $35.86 $39.18 $38.28 $37.41 $38.85 $41.28 - $39.57
Total Capital		 11,836 12,924 13,182 12,845 13,730 13,486 13,253 13,636 14,792 - 13,829
Total Debt		 3,273 3,031 3,520 2,971 2,972 2,973 2,974 2,975 3,470 - 2,972
Total Long-Term Debt		 2,480 2,481 2,970 2,971 2,972 2,973 2,474 2,475 2,970 - 2,972
Net Debt		 2,788 2,686 3,111 2,596 2,516 2,501 2,491 2,602 2,987 - 2,450
Capital Expenditures (CapEx)		 24 23 20 19 18 38 18 24 16 - 13
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)		 3,273 3,031 3,520 2,971 2,972 2,973 2,974 2,975 3,470 - 2,972
Total Depreciation and Amortization (D&A)		 -37 -22 -41 -30 -31 -31 -32 -29 -35 - -37
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.95 $1.35 $1.24 $1.17 $1.04 $0.08 $1.01 $1.10 $1.49 $1.11 $0.78
Adjusted Weighted Average Basic Shares Outstanding		 271.20M 271.30M 271.60M 271.60M 271.30M 271.50M 271.30M 271.10M 271.10M 271.20M 271.10M
Adjusted Diluted Earnings per Share		 $0.95 $1.35 $1.24 $1.17 $1.04 $0.07 $1.00 $1.10 $1.48 $1.11 $0.78
Adjusted Weighted Average Diluted Shares Outstanding		 272.30M 272.20M 272.70M 272.60M 272.70M 272.70M 272.60M 272.20M 272.30M 272.40M 272.30M
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		 270.87M 270.90M 271.28M 270.84M 270.84M 270.86M 270.62M 270.67M 270.67M 270.67M 270.53M
Normalized Net Operating Profit after Tax (NOPAT)		 258 367 338 317 283 15 274 299 403 - 211
Normalized NOPAT Margin		 7.81% 10.57% 9.91% 9.10% 7.89% 0.40% 7.62% 8.11% 10.66% - 5.79%
Pre Tax Income Margin		 9.87% 13.25% 12.53% 11.54% 10.07% 0.57% 9.71% 10.31% 13.57% - 7.33%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 9.59 13.53 12.20 11.82 11.28 0.66 10.91 12.26 14.25 - 8.09
NOPAT to Interest Expense		 7.59 10.79 9.66 9.32 8.84 0.66 8.56 9.65 11.19 - 6.39
EBIT Less CapEx to Interest Expense		 8.88 12.85 11.63 11.26 10.72 -0.53 10.34 11.48 13.81 - 7.70
NOPAT Less CapEx to Interest Expense		 6.88 10.12 9.09 8.76 8.28 -0.53 8.00 8.87 10.75 - 6.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 72.52% 65.31% 80.98% 79.22% 78.16% 106.88% 115.20% 118.24% 104.41% - 86.91%
Augmented Payout Ratio		 74.74% 67.30% 80.98% 80.78% 79.69% 108.97% 121.23% 122.12% 107.82% - 89.88%

Financials Breakdown Chart

Key Financial Trends

The CNA Financial data shows a multi-quarter view of an insurer with a steadily growing revenue base, solid investment gains, and a resilient cash-generation profile in 2025. While underwriting results and financing cash flows add some near-term volatility, the four-year trend points to improved profitability and a strong capitalization posture.

  • Total Revenue has trended higher over the four-year window, rising from about $3.08 billion in Q4 2022 to about $3.79 billion in Q4 2025 (latest quarterly). This reflects a broader, sustained top-line expansion.
  • Net Income attributable to common shareholders increased from roughly $239 million in Q4 2022 to about $302 million in Q4 2025, signaling improved profitability and earnings quality across the period.
  • Premiums Earned climbed over time, from around $2.232 billion in Q4 2022 to about $2.797 billion in Q4 2025, indicating a growing core insurance premium base.
  • Investments continue to provide meaningful capital gains, with Net Realized & Unrealized Capital Gains on Investments around $595 million in Q1 2025, rising to $634 million in Q4 2025 (and $616 million in Q2 2025, $631 million in Q3 2025), contributing notably to net income.
  • Operating Cash Flow remains robust in 2025, with Net Cash From Continuing Operating Activities around $570 million (Q4 2025) to $720 million (Q3 2025), and roughly $562–$638 million in other 2025 quarters, supporting liquidity and discretionary financing flexibility.
  • Diluted Earnings Per Share (EPS) show a favorable long-run trend, with Diluted EPS at $1.11 in Q4 2025, up from about $0.89 in Q4 2022, reflecting improved profitability per share over time.
  • Net Interest Income/(Expense) remains negative across 2025 quarters (examples: approximately -$31 million to -$36 million per quarter), indicating that CNA’s earnings rely more on underwriting results and investment gains rather than net interest income.
  • There are notable restatements in 2024 (Q3 and Q4 restated/adjusted), which can complicate year-to-year comparative analyses. Investors should consider the restatements when evaluating short- to medium-term trends.
  • Net cash from financing activities was meaningfully negative in 2025 Q4 (around -$626 million), reflecting debt repayments and dividends that reduced cash, which could pressure near-term liquidity if sustained.
05/18/26 07:13 AM ETAI Generated. May Contain Errors.

CNA Financial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, CNA Financial's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

CNA Financial's net income appears to be on an upward trend, with a most recent value of $1.28 billion in 2025, rising from $479 million in 2015. The previous period was $959 million in 2024. Check out CNA Financial's forecast to explore projected trends and price targets.

Over the last 10 years, CNA Financial's total revenue changed from $8.95 billion in 2015 to $14.85 billion in 2025, a change of 66.0%.

CNA Financial's total liabilities were at $57.82 billion at the end of 2025, a 3.3% increase from 2024, and a 33.6% increase since 2015.

In the past 10 years, CNA Financial's cash and equivalents has ranged from $242 million in 2019 to $536 million in 2021, and is currently $425 million as of their latest financial filing in 2025.


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Financial statements for NYSE:CNA last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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