CNO Financial Group (CNO) Financials

$39.40 -0.21 (-0.53%)

Closing price 08/28/2025 03:59 PM Eastern

Extended Trading

$39.42 +0.02 (+0.05%)

As of 08/28/2025 06:06 PM Eastern

Annual Income Statements for CNO Financial Group

This table shows CNO Financial Group'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	271	358	176	-310	409	302	570	631	277	404
Consolidated Net Income / (Loss)	271	358	176	-315	409	302	570	631	277	404
Net Income / (Loss) Continuing Operations	271	358	176	-310	409	302	570	631	277	404
Total Pre-Tax Income	368	353	481	-265	274	344	733	817	357	518
Total Revenue	3,684	3,869	4,174	4,175	3,856	3,712	4,027	3,440	3,908	4,195
Net Interest Income / (Expense)	-95	-116	-124	-150	-152	-109	-95	-137	-239	-254
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	95	116	124	150	152	109	95	137	239	254
Long-Term Debt Interest Expense	95	116	124	150	152	109	95	137	239	254
Total Non-Interest Income	3,779	3,985	4,298	4,325	4,009	3,821	4,122	3,577	4,147	4,450
Other Service Charges	89	172	314	96	409	267	440	33	460	522
Net Realized & Unrealized Capital Gains on Investments	1,174	1,245	1,359	1,636	1,119	1,043	1,159	1,044	1,181	1,370
Premiums Earned	2,556	2,601	2,647	2,593	2,481	2,511	2,523	2,500	2,506	2,559
Total Non-Interest Expense	3,317	3,516	3,693	4,435	3,582	3,368	3,294	2,623	3,551	3,677
Property & Liability Insurance Claims	2,308	2,391	2,603	2,279	2,417	2,158	2,188	1,617	2,331	2,472
Current and Future Benefits	-	-	-	-	-	-	-51	-16	-21	-41
Other Operating Expenses	739	872	842	1,882	933	942	982	951	1,048	1,055
Amortization Expense	260	253	239	264	232	268	198	213	227	251
Other Special Charges	9.00	0.00	9.50	15	-	-	-23	-142	-34	-61
Income Tax Expense	97	-5.00	305	50	-135	43	163	186	80	114
Basic Earnings per Share	$1.40	$2.03	$1.03	($1.90)	$2.62	$2.12	$4.44	$5.45	$2.44	$3.81
Weighted Average Basic Shares Outstanding	193.05M	176.64M	170.03M	165.46M	156.04M	142.10M	128.40M	115.73M	113.28M	106.14M
Diluted Earnings per Share	$1.39	$2.01	$1.02	($1.90)	$2.61	$2.11	$4.35	$5.36	$2.40	$3.74
Weighted Average Diluted Shares Outstanding	195.17M	178.32M	172.14M	165.46M	157.15M	143.16M	131.13M	117.72M	115.12M	108.12M
Weighted Average Basic & Diluted Shares Outstanding	193.40M	176.50M	170.50M	165.80M	146.28M	134.64M	118.47M	114.22M	108.99M	100.88M
Cash Dividends to Common per Share	-	$0.31	-	$0.39	-	$0.47	-	$0.55	$0.59	$0.63

This table shows CNO Financial Group'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	176	38	-0.80	74	167	36	112	116	9.30	166	14
Consolidated Net Income / (Loss)	176	38	-0.80	74	167	36	112	116	9.30	166	14
Net Income / (Loss) Continuing Operations	176	38	-0.80	74	167	36	112	116	9.30	166	14
Total Pre-Tax Income	228	49	-1.00	96	216	46	146	151	11	211	18
Total Revenue	868	926	951	965	885	1,107	1,096	1,002	1,062	1,035	944
Net Interest Income / (Expense)	-38	-48	-55	-58	-63	-64	-60	-64	-68	-62	-62
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	38	48	55	58	63	64	60	64	68	62	62
Long-Term Debt Interest Expense	38	48	55	58	63	64	60	64	68	62	62
Total Non-Interest Income	905	974	1,006	1,023	948	1,171	1,157	1,066	1,130	1,097	1,006
Other Service Charges	11	89	103	122	26	210	218	90	117	96	-15
Net Realized & Unrealized Capital Gains on Investments	271	259	278	273	296	335	310	335	368	358	370
Premiums Earned	623	626	626	628	626	626	628	642	645	644	651
Total Non-Interest Expense	640	877	952	869	669	1,061	950	851	1,051	825	926
Property & Liability Insurance Claims	396	585	610	566	399	756	631	569	726	546	580
Current and Future Benefits	-5.00	-18	0.60	8.30	-0.10	-30	-6.40	-30	7.30	-12	-12
Other Operating Expenses	230	280	272	257	247	273	278	251	269	256	275
Amortization Expense	54	54	56	56	57	59	61	61	64	65	67
Other Special Charges	-35	-24	15	-18	-34	2.40	-14	-0.20	-16	-31	15
Income Tax Expense	52	11	-0.20	22	48	9.80	34	34	1.70	44	4.00
Basic Earnings per Share	$1.54	$0.34	($0.01)	$0.64	$1.48	$0.33	$1.03	$1.08	$0.09	$1.61	$0.14
Weighted Average Basic Shares Outstanding	114.35M	115.73M	114.55M	114.27M	112.69M	113.28M	108.96M	107.73M	105.10M	106.14M	100.74M
Diluted Earnings per Share	$1.52	$0.33	($0.01)	$0.64	$1.46	$0.31	$1.01	$1.06	$0.09	$1.58	$0.13
Weighted Average Diluted Shares Outstanding	115.93M	117.72M	114.55M	115.65M	114.46M	115.12M	110.85M	109.26M	107.13M	108.12M	103.07M
Weighted Average Basic & Diluted Shares Outstanding	114.40M	114.22M	114.55M	113.00M	112.17M	108.99M	108.26M	105.76M	103.21M	100.88M	99.14M
Cash Dividends to Common per Share	-	-	$0.14	-	-	-	$0.15	-	-	-	$0.16

This table details how cash moves in and out of CNO Financial Group'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	-179	-129	-544	-101	-1.90	337	-260	-87	170	1,109
Net Cash From Operating Activities	748	776	633	318	697	736	598	495	583	628
Net Cash From Continuing Operating Activities	0.00	0.00	0.00	318	694	-485	598	495	583	628
Net Income / (Loss) Continuing Operations	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Non-Cash Adjustments to Reconcile Net Income	-	-	-	318	694	-485	598	495	583	628
Net Cash From Investing Activities	-1,070	-930	-270	-526	-556	-608	-1,526	-1,781	-872	-1,489
Net Cash From Continuing Investing Activities	-1,070	-930	-270	-526	-556	-608	-1,526	-1,781	-872	-1,489
Purchase of Investment Securities	-4,805	-6,267	-6,164	-6,206	-5,576	-4,321	-6,155	-6,524	-3,621	-6,891
Sale and/or Maturity of Investments	4,031	5,336	5,894	5,705	5,021	3,712	4,704	4,804	2,786	5,415
Other Investing Activities, net	-296	-	-	-25	-	-	-75	-61	-37	-14
Net Cash From Financing Activities	143	26	-274	107	-143	210	668	1,199	534	1,970
Net Cash From Continuing Financing Activities	143	26	-274	107	-143	210	669	1,199	459	1,984
Issuance of Debt	1,930	926	1,414	428	1,031	644	796	285	996	1,579
Issuance of Common Equity	6.30	8.40	8.30	3.90	9.20	19	22	14	13	11
Repayment of Debt	-2,598	-2,030	-2,914	-1,740	-2,605	-1,738	-2,080	-1,867	-2,427	-3,171
Repurchase of Common Equity	-365	-210	-168	-108	-255	-268	-408	-190	-166	-300
Payment of Dividends	-52	-55	-60	-65	-67	-67	-66	-65	-68	-68
Other Financing Activities, Net	1,222	1,387	1,446	1,589	1,743	1,620	2,405	3,023	2,112	3,932

This table details how cash moves in and out of CNO Financial Group'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	-66	91	-123	-3.20	-14	310	-236	339	253	752	-973
Net Cash From Operating Activities	168	161	82	142	183	177	95	111	231	191	137
Net Cash From Continuing Operating Activities	168	161	82	142	183	177	95	111	231	191	134
Net Income / (Loss) Continuing Operations	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Non-Cash Adjustments to Reconcile Net Income	168	161	82	142	183	177	95	111	231	191	134
Net Cash From Investing Activities	-338	-213	-407	-145	-393	73	-24	-1,146	-168	-151	-538
Net Cash From Continuing Investing Activities	-338	-213	-407	-145	-393	73	-24	-1,146	-168	-151	-538
Purchase of Investment Securities	-1,204	-966	-1,156	-781	-997	-687	-1,060	-2,410	-1,903	-1,518	-1,640
Sale and/or Maturity of Investments	881	774	763	644	612	766	1,039	1,267	1,735	1,374	1,102
Net Cash From Financing Activities	104	144	202	44	232	57	-310	1,377	190	713	-571
Net Cash From Continuing Financing Activities	104	144	202	0.50	196	61	-307	1,381	194	716	-571
Issuance of Debt	-	75	621	25	250	100	222	706	68	584	235
Issuance of Common Equity	1.90	6.90	8.10	0.50	2.50	2.10	2.80	1.00	4.30	3.10	6.50
Repayment of Debt	-371	-477	-882	-515	-501	-529	-979	-581	-771	-839	-1,256
Repurchase of Common Equity	-10	-9.90	-26	-30	-40	-70	-59	-60	-90	-92	-110
Payment of Dividends	-16	-16	-17	-17	-17	-17	-17	-17	-17	-16	-17
Other Financing Activities, Net	499	565	498	537	502	574	524	1,332	1,000	1,076	571
Cash Income Taxes Paid	-	-	-	-	-	-	-	-	-	-	-2.50

This table presents CNO Financial Group'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	31,125	31,975	33,110	31,440	33,631	35,340	36,204	33,133	35,027	37,853
Cash and Due from Banks	797	668	757	657	655	0.00	732	645	889	1,998
Trading Account Securities	20,608	22,044	23,636	18,972	21,583	0.00	25,164	20,697	320	466
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	237	240	246	205	206	0.00	216	236	252	286
Deferred Acquisition Cost	1,083	1,045	1,027	1,323	1,216	1,028	1,112	1,771	1,944	2,159
Separate Account Business Assets	4.70	4.70	5.00	4.40	4.20	0.00	3.90	2.70	3.10	3.30
Other Assets	6,674	6,206	5,789	8,677	8,401	5,033	8,977	9,782	31,620	32,940
Total Liabilities & Shareholders' Equity	31,125	31,975	33,110	31,440	33,631	0.00	36,204	33,133	35,027	37,853
Total Liabilities	26,987	27,488	28,263	28,069	28,954	29,856	30,945	31,364	32,812	35,354
Long-Term Debt	4,136	4,223	3,972	3,980	3,786	0.00	4,001	3,883	4,151	4,520
Claims and Claim Expense	488	501	530	522	522	562	502	64	62	61
Future Policy Benefits	10,602	10,953	11,521	11,154	11,499	11,744	11,671	11,240	12,188	11,706
Unearned Premiums Liability	286	283	262	254	261	0.00	247	235	219	227
Participating Policy Holder Equity	-	-	-	-	-	12,541	13,690	15,234	15,223	17,616
Separate Account Business Liabilities	4.70	4.70	5.00	4.40	4.20	0.00	3.90	2.70	3.10	3.30
Other Long-Term Liabilities	11,470	11,524	11,973	12,155	12,883	0.00	831	705	966	1,222
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	4,139	4,487	4,848	3,371	4,677	2,938	5,260	1,769	2,216	2,498
Total Preferred & Common Equity	4,139	4,487	4,848	3,371	4,677	5,484	5,260	1,769	2,216	2,498
Total Common Equity	4,139	4,487	4,848	3,371	4,677	2,938	5,260	1,769	2,216	2,498
Common Stock	3,389	3,214	3,075	2,997	2,769	0.00	2,185	2,035	1,893	1,634
Retained Earnings	347	651	560	197	536	752	1,127	1,691	1,900	2,236
Accumulated Other Comprehensive Income / (Loss)	403	622	1,212	178	1,373	2,186	1,947	-1,957	-1,577	-1,371

This table presents CNO Financial Group'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	33,037	34,015	34,054	33,507	34,940	36,290	37,645	37,436
Cash and Due from Banks	554	522	562	583	650	992	1,245	1,025
Trading Account Securities	20,660	21,421	21,275	20,622	341	22,943	24,063	23,940
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	236	241	242	252	252	263	276	290
Deferred Acquisition Cost	1,886	1,811	1,858	1,898	1,992	2,047	2,101	2,210
Separate Account Business Assets	2.70	2.80	3.00	2.90	3.30	3.20	3.30	3.10
Other Assets	9,699	10,016	10,114	10,150	31,701	10,042	9,957	9,969
Total Liabilities & Shareholders' Equity	33,037	34,015	34,054	33,507	34,940	36,290	37,645	37,436
Total Liabilities	31,739	31,983	32,058	31,617	32,572	33,861	34,958	34,906
Long-Term Debt	3,894	4,044	3,980	4,148	3,896	4,523	4,305	4,398
Claims and Claim Expense	454	68	65	61	65	60	60	64
Future Policy Benefits	11,748	11,623	11,480	10,830	11,737	11,479	12,180	11,773
Unearned Premiums Liability	238	244	234	221	226	221	217	222
Participating Policy Holder Equity	14,654	15,303	15,388	15,482	15,737	16,638	17,241	17,346
Separate Account Business Liabilities	2.70	2.80	3.00	2.90	3.30	3.20	3.30	3.10
Other Long-Term Liabilities	749	699	909	873	909	938	952	1,101
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,298	2,032	1,996	1,890	2,368	2,429	2,688	2,531
Total Preferred & Common Equity	1,298	2,032	1,996	1,890	2,368	2,429	2,688	2,531
Total Common Equity	1,298	2,032	1,996	1,890	2,368	2,429	2,688	2,531
Common Stock	2,032	2,022	1,999	1,966	1,852	1,799	1,717	1,536
Retained Earnings	1,432	1,674	1,730	1,880	1,996	2,095	2,087	2,234
Accumulated Other Comprehensive Income / (Loss)	-2,166	-1,664	-1,734	-1,957	-1,480	-1,464	-1,116	-1,239

This table displays calculated financial ratios and metrics derived from CNO Financial Group'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	-9.06%	5.01%	7.90%	0.01%	-7.64%	-3.73%	8.47%	-14.58%	13.62%	7.34%
EBITDA Growth	48.57%	-3.38%	18.83%	-99.35%	10,672.34%	20.96%	52.07%	10.52%	-43.24%	31.72%
EBIT Growth	109.99%	-3.94%	36.30%	-153.93%	205.62%	25.57%	112.92%	11.38%	-56.30%	45.26%
NOPAT Growth	426.65%	32.32%	-50.98%	-205.56%	320.87%	-26.28%	88.97%	10.57%	-56.15%	46.11%
Net Income Growth	426.65%	32.32%	-50.98%	-279.39%	229.97%	-26.28%	88.97%	10.57%	-56.15%	46.11%
EPS Growth	479.17%	44.60%	-49.25%	-286.27%	237.37%	-19.16%	106.16%	23.22%	-55.22%	55.83%
Operating Cash Flow Growth	513.96%	3.73%	-18.36%	-49.82%	119.23%	5.57%	-18.65%	-17.20%	17.66%	7.69%
Free Cash Flow Firm Growth	-50.32%	-130.33%	185.07%	1,841.66%	-154.76%	566.78%	-197.74%	232.23%	-110.33%	43.36%
Invested Capital Growth	0.18%	5.27%	1.26%	-16.65%	15.13%	-35.20%	68.86%	-38.97%	12.64%	10.24%
Revenue Q/Q Growth	-0.88%	0.76%	2.22%	-7.02%	7.95%	2.18%	-1.51%	-3.52%	4.86%	-1.68%
EBITDA Q/Q Growth	18.68%	4.79%	-8.63%	-93.95%	16.63%	6.23%	10.97%	-16.86%	0.38%	28.53%
EBIT Q/Q Growth	29.79%	6.13%	-10.15%	-47.84%	31.13%	11.71%	30.19%	-24.50%	-0.67%	46.45%
NOPAT Q/Q Growth	24.57%	37.08%	-63.47%	-50.03%	156.36%	-35.51%	30.50%	-24.72%	-0.61%	47.34%
Net Income Q/Q Growth	24.57%	37.08%	-63.47%	23.95%	156.36%	-35.51%	30.50%	-24.72%	-0.61%	47.34%
EPS Q/Q Growth	31.13%	43.57%	-62.91%	24.60%	150.96%	-32.15%	35.51%	-22.88%	-0.83%	51.42%
Operating Cash Flow Q/Q Growth	-4.25%	-2.30%	-1.62%	6.36%	-2.38%	1.09%	-11.06%	9.17%	2.79%	2.33%
Free Cash Flow Firm Q/Q Growth	-47.25%	80.61%	-88.67%	39.83%	-21.11%	5,469.07%	-7,470.57%	-13.63%	22.94%	63.54%
Invested Capital Q/Q Growth	2.38%	-0.39%	2.06%	-3.28%	1.48%	-38.16%	-0.02%	8.86%	5.43%	0.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	17.04%	15.68%	17.26%	0.11%	13.13%	16.50%	23.13%	29.92%	14.95%	18.34%
EBIT Margin	9.98%	9.13%	11.53%	-6.22%	7.11%	9.27%	18.21%	23.74%	9.13%	12.35%
Profit (Net Income) Margin	7.35%	9.26%	4.21%	-7.54%	10.62%	8.13%	14.16%	18.33%	7.07%	9.63%
Tax Burden Percent	73.62%	101.42%	36.55%	118.96%	149.31%	87.66%	77.79%	77.23%	77.49%	77.95%
Interest Burden Percent	100.00%	100.00%	99.81%	102.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	26.38%	-1.42%	63.45%	0.00%	-49.31%	12.34%	22.21%	22.77%	22.51%	22.05%
Return on Invested Capital (ROIC)	3.27%	4.22%	2.00%	-2.29%	5.18%	4.33%	7.74%	8.46%	4.60%	6.04%
ROIC Less NNEP Spread (ROIC-NNEP)	3.27%	4.22%	2.00%	-5.55%	5.18%	4.33%	7.74%	8.46%	4.60%	6.04%
Return on Net Nonoperating Assets (RNNOA)	2.86%	4.09%	1.76%	-5.37%	5.00%	3.60%	6.18%	9.49%	9.28%	11.10%
Return on Equity (ROE)	6.13%	8.31%	3.76%	-7.67%	10.17%	7.93%	13.91%	17.94%	13.88%	17.14%
Cash Return on Invested Capital (CROIC)	3.10%	-0.92%	0.75%	15.87%	-8.89%	47.04%	-43.49%	56.86%	-7.29%	-3.71%
Operating Return on Assets (OROA)	1.18%	1.12%	1.48%	-0.80%	0.84%	1.00%	2.05%	2.36%	1.05%	1.42%
Return on Assets (ROA)	0.87%	1.14%	0.54%	-0.98%	1.26%	0.88%	1.59%	1.82%	0.81%	1.11%
Return on Common Equity (ROCE)	6.13%	8.31%	3.76%	-7.67%	10.17%	7.93%	13.91%	17.94%	13.88%	17.14%
Return on Equity Simple (ROE_SIMPLE)	6.54%	7.98%	3.62%	-9.34%	8.75%	5.50%	10.84%	35.65%	12.48%	16.17%
Net Operating Profit after Tax (NOPAT)	271	358	176	-185	409	302	570	631	277	404
NOPAT Margin	7.35%	9.26%	4.21%	-4.44%	10.62%	8.13%	14.16%	18.33%	7.07%	9.63%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	3.26%	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	90.02%	90.87%	88.47%	106.22%	92.89%	90.73%	81.79%	76.26%	90.87%	87.65%
Earnings before Interest and Taxes (EBIT)	368	353	481	-260	274	344	733	817	357	518
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	628	607	721	4.70	506	612	931	1,029	584	770
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.71	0.62	0.73	0.63	0.53	0.97	0.53	1.41	1.38	1.54
Price to Tangible Book Value (P/TBV)	0.71	0.62	0.73	0.63	0.53	0.97	0.53	1.41	1.38	1.54
Price to Revenue (P/Rev)	0.79	0.72	0.84	0.51	0.64	0.77	0.69	0.73	0.78	0.92
Price to Earnings (P/E)	10.79	7.77	20.07	0.00	6.00	9.42	4.84	3.96	11.09	9.51
Dividend Yield	1.72%	1.93%	1.67%	3.77%	2.65%	2.30%	2.28%	2.52%	2.16%	1.69%
Earnings Yield	9.27%	12.87%	4.98%	0.00%	16.67%	10.61%	20.64%	25.22%	9.02%	10.52%
Enterprise Value to Invested Capital (EV/IC)	0.76	0.73	0.76	0.74	0.66	0.52	0.65	1.02	0.99	0.91
Enterprise Value to Revenue (EV/Rev)	1.70	1.64	1.61	1.31	1.45	0.77	1.50	1.67	1.62	1.52
Enterprise Value to EBITDA (EV/EBITDA)	9.97	10.45	9.35	1,162.11	11.04	4.64	6.48	5.57	10.83	8.27
Enterprise Value to EBIT (EV/EBIT)	17.03	17.94	14.00	0.00	20.38	8.26	8.23	7.03	17.73	12.28
Enterprise Value to NOPAT (EV/NOPAT)	23.13	17.69	38.38	0.00	13.65	9.42	10.58	9.10	22.88	15.75
Enterprise Value to Operating Cash Flow (EV/OCF)	8.37	8.17	10.64	17.19	8.02	3.87	10.08	11.58	10.86	10.14
Enterprise Value to Free Cash Flow (EV/FCFF)	24.44	0.00	101.95	4.26	0.00	0.87	0.00	1.35	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.00	0.94	0.82	1.18	0.81	0.00	0.76	2.20	1.87	1.81
Long-Term Debt to Equity	1.00	0.94	0.82	1.18	0.81	0.00	0.76	2.20	1.87	1.81
Financial Leverage	0.87	0.97	0.88	0.97	0.96	0.83	0.80	1.12	2.02	1.84
Leverage Ratio	7.06	7.32	6.97	7.85	8.09	9.06	8.73	9.87	17.11	15.46
Compound Leverage Factor	7.06	7.32	6.96	8.01	8.09	9.06	8.73	9.87	17.11	15.46
Debt to Total Capital	49.98%	48.49%	45.04%	54.14%	44.74%	0.00%	43.20%	68.70%	65.20%	64.40%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	49.98%	48.49%	45.04%	54.14%	44.74%	0.00%	43.20%	68.70%	65.20%	64.40%
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	50.02%	51.51%	54.96%	45.86%	55.26%	100.00%	56.80%	31.30%	34.80%	35.60%
Debt to EBITDA	6.59	6.96	5.51	846.77	7.48	0.00	4.30	3.77	7.10	5.87
Net Debt to EBITDA	5.32	5.86	4.46	707.06	6.18	0.00	3.51	3.15	5.58	3.28
Long-Term Debt to EBITDA	6.59	6.96	5.51	846.77	7.48	0.00	4.30	3.77	7.10	5.87
Debt to NOPAT	15.28	11.79	22.62	-21.47	9.25	0.00	7.02	6.16	15.01	11.19
Net Debt to NOPAT	12.33	9.92	18.31	-17.93	7.65	0.00	5.73	5.13	11.80	6.24
Long-Term Debt to NOPAT	15.28	11.79	22.62	-21.47	9.25	0.00	7.02	6.16	15.01	11.19
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)	256	-78	66	1,283	-703	3,281	-3,206	4,240	-438	-248
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	2.70	-0.67	0.53	8.57	-4.61	30.15	-33.61	30.95	-1.84	-0.98
Operating Cash Flow to Interest Expense	7.88	6.66	5.12	2.12	4.57	6.76	6.27	3.62	2.44	2.47
Operating Cash Flow Less CapEx to Interest Expense	7.88	6.66	5.12	2.12	4.57	6.76	6.27	3.62	2.44	2.47
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.12	0.13	0.13	0.12	0.11	0.11	0.10	0.11	0.12
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,274	8,710	8,820	7,351	8,463	5,484	9,261	5,652	6,366	7,018
Invested Capital Turnover	0.45	0.46	0.48	0.52	0.49	0.53	0.55	0.46	0.65	0.63
Increase / (Decrease) in Invested Capital	15	436	110	-1,469	1,112	-2,979	3,777	-3,609	715	652
Enterprise Value (EV)	6,260	6,337	6,739	5,462	5,588	2,844	6,032	5,738	6,328	6,363
Market Capitalization	2,922	2,782	3,524	2,139	2,456	2,844	2,763	2,500	3,066	3,840
Book Value per Share	$22.25	$25.85	$28.90	$20.47	$30.94	$21.14	$42.65	$15.46	$19.75	$24.21
Tangible Book Value per Share	$22.25	$25.85	$28.90	$20.47	$30.94	$21.14	$42.65	$15.46	$19.75	$24.21
Total Capital	8,274	8,710	8,820	7,351	8,463	2,938	9,261	5,652	6,366	7,018
Total Debt	4,136	4,223	3,972	3,980	3,786	0.00	4,001	3,883	4,151	4,520
Total Long-Term Debt	4,136	4,223	3,972	3,980	3,786	0.00	4,001	3,883	4,151	4,520
Net Debt	3,339	3,555	3,215	3,323	3,131	0.00	3,269	3,238	3,262	2,522
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	130	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	4,136	4,223	3,972	3,980	3,786	2,546	4,001	3,883	4,151	4,520
Total Depreciation and Amortization (D&A)	260	253	239	264	232	268	198	213	227	251
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.40	$2.03	$1.03	($1.90)	$2.62	$2.12	$3.43	$3.43	$2.44	$3.81
Adjusted Weighted Average Basic Shares Outstanding	193.05M	176.64M	170.03M	165.46M	156.04M	142.10M	128.40M	115.73M	113.28M	106.14M
Adjusted Diluted Earnings per Share	$1.39	$2.01	$1.02	($1.90)	$2.61	$2.11	$3.36	$3.37	$2.40	$3.74
Adjusted Weighted Average Diluted Shares Outstanding	195.17M	178.32M	172.14M	165.46M	157.15M	143.16M	131.13M	117.72M	115.12M	108.12M
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	179.59M	173.80M	166.88M	160.72M	146.28M	134.64M	118.47M	114.22M	108.99M	100.88M
Normalized Net Operating Profit after Tax (NOPAT)	277	247	343	-175	192	302	552	521	250	357
Normalized NOPAT Margin	7.53%	6.39%	8.22%	-4.19%	4.98%	8.13%	13.72%	15.16%	6.40%	8.51%
Pre Tax Income Margin	9.98%	9.13%	11.51%	-6.34%	7.11%	9.27%	18.21%	23.74%	9.13%	12.35%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.87	3.03	3.89	-1.73	1.80	3.16	7.68	5.96	1.50	2.04
NOPAT to Interest Expense	2.85	3.08	1.42	-1.24	2.69	2.77	5.98	4.60	1.16	1.59
EBIT Less CapEx to Interest Expense	3.87	3.03	3.89	-1.73	1.80	3.16	7.68	5.96	1.50	2.04
NOPAT Less CapEx to Interest Expense	2.85	3.08	1.42	-1.24	2.69	2.77	5.98	4.60	1.16	1.59
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	19.21%	15.30%	33.94%	-20.57%	16.39%	22.20%	11.52%	10.28%	24.63%	16.76%
Augmented Payout Ratio	154.19%	73.93%	129.78%	-54.86%	78.55%	111.10%	83.03%	40.42%	84.70%	91.06%

This table displays calculated financial ratios and metrics derived from CNO Financial Group'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	-8.14%	-11.93%	16.14%	16.68%	1.98%	19.55%	15.24%	3.81%	19.97%	-6.47%	-13.93%
EBITDA Growth	51.37%	-67.00%	-81.37%	-56.85%	-3.13%	2.14%	279.27%	39.38%	-72.49%	162.67%	-58.83%
EBIT Growth	78.05%	-84.53%	-100.42%	-67.95%	-5.40%	-4.95%	14,720.00%	56.71%	-94.90%	356.62%	-87.89%
NOPAT Growth	76.25%	-84.50%	-100.38%	-68.41%	-4.89%	-4.47%	16,142.86%	57.80%	-94.44%	357.58%	-87.80%
Net Income Growth	76.25%	-84.50%	-100.44%	-68.41%	-4.89%	-4.47%	14,137.50%	57.80%	-94.44%	357.58%	-87.80%
EPS Growth	97.40%	-82.81%	-100.66%	-67.84%	-3.95%	-6.06%	10,200.00%	65.63%	-93.84%	409.68%	-87.13%
Operating Cash Flow Growth	-30.41%	34.87%	45.21%	27.94%	9.13%	9.82%	15.51%	-21.63%	26.48%	8.09%	44.50%
Free Cash Flow Firm Growth	1,545.97%	203.27%	11.16%	-93.66%	-116.00%	-118.60%	-104.92%	-501.92%	-39.16%	28.34%	-768.53%
Invested Capital Growth	-43.95%	-38.97%	-20.07%	-2.29%	16.31%	12.64%	3.08%	16.33%	15.81%	10.24%	10.62%
Revenue Q/Q Growth	4.90%	6.70%	2.75%	1.46%	-8.32%	25.08%	-0.95%	-8.60%	5.95%	-2.49%	-8.85%
EBITDA Q/Q Growth	-20.17%	-63.47%	-46.98%	179.08%	79.22%	-61.48%	96.86%	2.56%	-64.62%	267.73%	-69.14%
EBIT Q/Q Growth	-23.98%	-78.72%	-102.06%	9,710.00%	124.35%	-78.62%	217.14%	3.01%	-92.70%	1,813.64%	-91.59%
NOPAT Q/Q Growth	-24.60%	-78.40%	-101.84%	10,628.57%	127.00%	-78.30%	209.37%	3.56%	-92.00%	1,686.02%	-91.75%
Net Income Q/Q Growth	-24.60%	-78.40%	-102.11%	9,312.50%	127.00%	-78.30%	209.37%	3.56%	-92.00%	1,686.02%	-91.75%
EPS Q/Q Growth	-23.62%	-78.29%	-103.03%	6,500.00%	128.13%	-78.77%	225.81%	4.95%	-91.51%	1,655.56%	-91.77%
Operating Cash Flow Q/Q Growth	51.45%	-3.94%	-49.10%	72.77%	29.19%	-3.34%	-46.46%	17.23%	108.48%	-17.39%	-28.43%
Free Cash Flow Firm Q/Q Growth	25.97%	-14.12%	-58.17%	-85.98%	-417.73%	0.16%	88.94%	-1,045.73%	-10.01%	48.59%	-34.03%
Invested Capital Q/Q Growth	-15.12%	8.86%	7.51%	-1.65%	1.04%	5.43%	-1.62%	10.99%	0.59%	0.37%	-1.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	32.43%	11.10%	5.73%	15.76%	30.81%	9.49%	18.85%	21.16%	7.06%	26.64%	9.02%
EBIT Margin	26.26%	5.24%	-0.11%	9.96%	24.36%	4.17%	13.34%	15.03%	1.04%	20.33%	1.88%
Profit (Net Income) Margin	20.27%	4.10%	-0.08%	7.64%	18.91%	3.28%	10.24%	11.61%	0.88%	16.05%	1.45%
Tax Burden Percent	77.18%	78.35%	80.00%	76.69%	77.60%	78.74%	76.81%	77.22%	84.55%	78.91%	77.40%
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	22.82%	21.65%	0.00%	23.31%	22.40%	21.26%	23.19%	22.78%	15.45%	21.09%	22.60%
Return on Invested Capital (ROIC)	10.00%	1.89%	-0.04%	4.69%	12.55%	2.13%	6.73%	7.34%	0.57%	10.06%	0.89%
ROIC Less NNEP Spread (ROIC-NNEP)	10.00%	1.89%	-0.04%	4.69%	12.55%	2.13%	6.73%	7.34%	0.57%	10.06%	0.89%
Return on Net Nonoperating Assets (RNNOA)	12.13%	2.12%	-0.06%	8.78%	31.66%	4.30%	12.14%	14.11%	1.06%	18.50%	1.51%
Return on Equity (ROE)	22.13%	4.02%	-0.10%	13.46%	44.21%	6.43%	18.87%	21.46%	1.63%	28.56%	2.40%
Cash Return on Invested Capital (CROIC)	67.92%	56.86%	28.84%	7.06%	-10.12%	-7.29%	3.28%	-8.41%	-10.44%	-3.71%	-5.45%
Operating Return on Assets (OROA)	2.72%	0.52%	-0.01%	1.09%	2.73%	0.48%	1.57%	1.75%	0.12%	2.34%	0.21%
Return on Assets (ROA)	2.10%	0.41%	-0.01%	0.83%	2.12%	0.38%	1.20%	1.35%	0.11%	1.85%	0.16%
Return on Common Equity (ROCE)	22.13%	4.02%	-0.10%	13.46%	44.21%	6.43%	18.87%	21.46%	1.63%	28.56%	2.40%
Return on Equity Simple (ROE_SIMPLE)	64.54%	0.00%	21.97%	14.37%	14.72%	0.00%	16.45%	17.79%	10.20%	0.00%	12.07%
Net Operating Profit after Tax (NOPAT)	176	38	-0.70	74	167	36	112	116	9.30	166	14
NOPAT Margin	20.27%	4.10%	-0.07%	7.64%	18.91%	3.28%	10.24%	11.61%	0.88%	16.05%	1.45%
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%	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	73.74%	94.76%	100.11%	90.04%	75.64%	95.83%	86.66%	84.97%	98.96%	79.67%	98.12%
Earnings before Interest and Taxes (EBIT)	228	49	-1.00	96	216	46	146	151	11	211	18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	281	103	55	152	273	105	207	212	75	276	85
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.52	1.41	1.21	1.33	1.39	1.38	1.29	1.24	1.38	1.54	1.66
Price to Tangible Book Value (P/TBV)	1.52	1.41	1.21	1.33	1.39	1.38	1.29	1.24	1.38	1.54	1.66
Price to Revenue (P/Rev)	0.55	0.73	0.69	0.71	0.70	0.78	0.76	0.73	0.87	0.92	1.04
Price to Earnings (P/E)	2.35	3.96	5.51	9.23	9.43	11.09	7.87	6.94	13.54	9.51	13.76
Dividend Yield	3.13%	2.52%	2.60%	2.47%	2.50%	2.16%	2.20%	2.20%	1.77%	1.69%	1.54%
Earnings Yield	42.48%	25.22%	18.15%	10.83%	10.61%	9.02%	12.71%	14.40%	7.39%	10.52%	7.27%
Enterprise Value to Invested Capital (EV/IC)	1.02	1.02	0.98	1.02	1.02	0.99	1.01	0.94	0.97	0.91	1.09
Enterprise Value to Revenue (EV/Rev)	1.49	1.67	1.67	1.64	1.66	1.62	1.56	1.60	1.59	1.52	1.87
Enterprise Value to EBITDA (EV/EBITDA)	4.29	5.57	7.56	10.27	10.63	10.83	8.57	8.20	11.31	8.27	11.69
Enterprise Value to EBIT (EV/EBIT)	4.91	7.03	10.40	16.33	17.23	17.73	12.52	11.69	19.14	12.28	19.43
Enterprise Value to NOPAT (EV/NOPAT)	6.34	9.10	13.40	21.15	22.24	22.88	16.20	15.11	24.70	15.75	24.80
Enterprise Value to Operating Cash Flow (EV/OCF)	11.71	11.58	11.48	10.99	10.91	10.86	10.60	11.56	11.04	10.14	11.31
Enterprise Value to Free Cash Flow (EV/FCFF)	1.08	1.35	3.03	14.21	0.00	0.00	31.19	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.00	2.20	1.99	1.99	2.19	1.87	1.65	1.86	1.60	1.81	1.74
Long-Term Debt to Equity	3.00	2.20	1.99	1.99	2.19	1.87	1.65	1.86	1.60	1.81	1.74
Financial Leverage	1.21	1.12	1.39	1.87	2.52	2.02	1.80	1.92	1.85	1.84	1.69
Leverage Ratio	10.53	9.87	12.14	16.13	20.87	17.11	15.67	15.90	15.54	15.46	14.78
Compound Leverage Factor	10.53	9.87	12.14	16.13	20.87	17.11	15.67	15.90	15.54	15.46	14.78
Debt to Total Capital	75.00%	68.70%	66.56%	66.60%	68.70%	65.20%	62.20%	65.06%	61.56%	64.40%	63.48%
Short-Term Debt 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%
Long-Term Debt to Total Capital	75.00%	68.70%	66.56%	66.60%	68.70%	65.20%	62.20%	65.06%	61.56%	64.40%	63.48%
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	25.00%	31.30%	33.44%	33.40%	31.30%	34.80%	37.80%	34.94%	38.44%	35.60%	36.52%
Debt to EBITDA	3.15	3.77	5.11	6.74	7.13	7.10	5.29	5.68	7.19	5.87	6.79
Net Debt to EBITDA	2.70	3.15	4.45	5.79	6.13	5.58	4.41	4.43	5.11	3.28	5.21
Long-Term Debt to EBITDA	3.15	3.77	5.11	6.74	7.13	7.10	5.29	5.68	7.19	5.87	6.79
Debt to NOPAT	4.65	6.16	9.06	13.88	14.91	15.01	10.00	10.46	15.70	11.19	14.40
Net Debt to NOPAT	3.99	5.13	7.89	11.92	12.82	11.80	8.33	8.17	11.16	6.24	11.04
Long-Term Debt to NOPAT	4.65	6.16	9.06	13.88	14.91	15.01	10.00	10.46	15.70	11.19	14.40
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)	4,247	3,647	1,525	214	-679	-678	-75	-859	-945	-486	-651
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	112.95	76.30	27.89	3.71	-10.85	-10.65	-1.25	-13.38	-13.90	-7.84	-10.51
Operating Cash Flow to Interest Expense	4.45	3.37	1.50	2.46	2.92	2.77	1.57	1.73	3.40	3.08	2.20
Operating Cash Flow Less CapEx to Interest Expense	4.45	3.37	1.50	2.46	2.92	2.77	1.57	1.73	3.40	3.08	2.20
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.10	0.10	0.11	0.11	0.11	0.12	0.12	0.12	0.12	0.11
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,192	5,652	6,076	5,976	6,038	6,366	6,263	6,952	6,993	7,018	6,928
Invested Capital Turnover	0.49	0.46	0.52	0.61	0.66	0.65	0.66	0.63	0.65	0.63	0.61
Increase / (Decrease) in Invested Capital	-4,071	-3,609	-1,526	-140	847	715	187	976	955	652	665
Enterprise Value (EV)	5,312	5,738	5,982	6,067	6,188	6,328	6,310	6,532	6,772	6,363	7,575
Market Capitalization	1,972	2,500	2,460	2,649	2,623	3,066	3,065	3,001	3,712	3,840	4,202
Book Value per Share	$11.35	$15.46	$17.79	$17.42	$16.73	$19.75	$21.73	$22.44	$25.41	$24.21	$25.08
Tangible Book Value per Share	$11.35	$15.46	$17.79	$17.42	$16.73	$19.75	$21.73	$22.44	$25.41	$24.21	$25.08
Total Capital	5,192	5,652	6,076	5,976	6,038	6,366	6,263	6,952	6,993	7,018	6,928
Total Debt	3,894	3,883	4,044	3,980	4,148	4,151	3,896	4,523	4,305	4,520	4,398
Total Long-Term Debt	3,894	3,883	4,044	3,980	4,148	4,151	3,896	4,523	4,305	4,520	4,398
Net Debt	3,340	3,238	3,522	3,418	3,565	3,262	3,246	3,531	3,060	2,522	3,373
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	3,894	3,883	4,044	3,980	4,148	4,151	3,896	4,523	4,305	4,520	4,398
Total Depreciation and Amortization (D&A)	54	54	56	56	57	59	61	61	64	65	67
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.92	$0.34	($0.01)	$0.64	$1.48	$0.33	$1.03	$1.08	$0.09	$1.61	$0.14
Adjusted Weighted Average Basic Shares Outstanding	114.35M	115.73M	114.55M	114.27M	112.69M	113.28M	108.96M	107.73M	105.10M	106.14M	100.74M
Adjusted Diluted Earnings per Share	$0.91	$0.33	($0.01)	$0.64	$1.46	$0.31	$1.01	$1.06	$0.09	$1.58	$0.13
Adjusted Weighted Average Diluted Shares Outstanding	115.93M	117.72M	114.55M	115.65M	114.46M	115.12M	110.85M	109.26M	107.13M	108.12M	103.07M
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	114.40M	114.22M	114.55M	113.00M	112.17M	108.99M	108.26M	105.76M	103.21M	100.88M	99.14M
Normalized Net Operating Profit after Tax (NOPAT)	149	20	9.66	60	141	38	102	116	-4.31	142	26
Normalized NOPAT Margin	17.17%	2.11%	1.02%	6.24%	15.94%	3.45%	9.28%	11.59%	-0.41%	13.72%	2.71%
Pre Tax Income Margin	26.26%	5.24%	-0.11%	9.96%	24.36%	4.17%	13.34%	15.03%	1.04%	20.33%	1.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.06	1.01	-0.02	1.67	3.44	0.72	2.43	2.35	0.16	3.40	0.29
NOPAT to Interest Expense	4.68	0.80	-0.01	1.28	2.67	0.57	1.87	1.81	0.14	2.68	0.22
EBIT Less CapEx to Interest Expense	6.06	1.01	-0.02	1.67	3.44	0.72	2.43	2.35	0.16	3.40	0.29
NOPAT Less CapEx to Interest Expense	4.68	0.80	-0.01	1.28	2.67	0.57	1.87	1.81	0.14	2.68	0.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	7.70%	10.28%	14.74%	23.26%	24.26%	24.63%	17.53%	15.76%	24.80%	16.76%	22.04%
Augmented Payout Ratio	41.15%	40.42%	38.51%	49.62%	62.26%	84.70%	68.63%	68.76%	126.48%	91.06%	137.20%

Key Financial Trends

CNO Financial Group has demonstrated fluctuating financial performance over the past several quarters, as observed in its income statements, cash flow statements, and balance sheets.

Consistently strong premiums earned, reaching $650.7 million in Q1 2025, indicating stable insurance underwriting revenue.
Significant net realized and unrealized capital gains on investments, with $369.8 million in Q1 2025, supporting non-interest income growth.
Large cash balances improved, with cash and due from banks at $1.02 billion in Q1 2025, up from $649.8 million in Q1 2024, enhancing liquidity.
Non-cash adjustments to reconcile net income improved operating cash flows, with $134.2 million in Q1 2025, indicating solid cash generation quality.
Consistent dividend payments per share, maintaining or increasing slightly (e.g., $0.16 in Q1 2025 compared to $0.15 in Q1 2024), supporting shareholder returns.
Total assets remained stable and robust, above $37 billion in Q1 2025, demonstrating asset base strength.
Long-term debt interest expense has held fairly steady around $62 million per quarter, suggesting stable financing costs but a continuous expense to monitor.
Total revenue showed some volatility, with $943.6 million in Q1 2025 versus $1.09 billion in Q1 2024, indicating variability in income sources that investors should watch.
Net interest expense has been negative consistently each quarter, including -$62 million in Q1 2025, which negatively impacts earnings.
Net income dropped sharply to only $13.7 million in Q1 2025 from $112.3 million in Q1 2024, signaling earnings pressure that requires close attention.
Total non-interest expenses increased considerably to $925.9 million in Q1 2025 from $950.1 million in Q1 2024 (net of negative special charges), squeezing margins.
Significant outflows in net cash from financing activities at -$571.4 million in Q1 2025 contrasted with positive inflows a year ago, reflecting heavier debt repayments and repurchases that might constrain financial flexibility.

Summary: CNO Financial Group's earnings quality has weakened notably in the most recent quarter, with net income down sharply despite high premiums and strong capital gains. The company maintains a strong asset base and cash position, but operating and financing cash flows show increased usage of cash. Investors should monitor the sustainability of revenues and expense control going forward, as well as the impact of ongoing financing activities on balance sheet strength.

08/29/25 08:41 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About CNO Financial Group's Financials

When does CNO Financial Group's financial year end?

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

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

CNO Financial Group's net income appears to be on an upward trend, with a most recent value of $404 million in 2024, rising from $270.70 million in 2015. The previous period was $276.50 million in 2023. Find out what analysts predict for CNO Financial Group in the coming months.

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

Over the last 9 years, CNO Financial Group's total revenue changed from $3.68 billion in 2015 to $4.20 billion in 2024, a change of 13.9%.

How much debt does CNO Financial Group have?

CNO Financial Group's total liabilities were at $35.35 billion at the end of 2024, a 7.7% increase from 2023, and a 31.0% increase since 2015.

How much cash does CNO Financial Group have?

In the past 9 years, CNO Financial Group's cash and equivalents has ranged from $0.00 in 2020 to $2.00 billion in 2024, and is currently $2.00 billion as of their latest financial filing in 2024.

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

Over the last 9 years, CNO Financial Group's book value per share changed from 22.25 in 2015 to 24.21 in 2024, a change of 8.8%.

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This page (NYSE:CNO) was last updated on 8/29/2025 by MarketBeat.com Staff

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CNO Financial Group (CNO) Financials

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CNO Financial Group (CNO) Financials

Annual Income Statements for CNO Financial Group

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