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CNO Financial Group (CNO) Financials

CNO Financial Group logo
$55.21 -0.27 (-0.48%)
Closing price 03:59 PM Eastern
Extended Trading
$54.89 -0.32 (-0.59%)
As of 07:34 PM Eastern
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Annual Income Statements for CNO Financial Group

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 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		 271 358 176 -310 409 302 570 631 277 421 229
Consolidated Net Income / (Loss)		 271 358 176 -315 409 302 570 631 277 421 229
Net Income / (Loss) Continuing Operations		 271 358 176 -310 409 302 570 631 277 421 229
Total Pre-Tax Income 		368 353 481 -265 274 344 733 817 357 540 293
Total Revenue		 3,684 3,869 4,174 4,175 3,856 3,712 4,027 3,440 3,908 4,195 4,258
Net Interest Income / (Expense)		 -95 -116 -124 -150 -152 -109 -95 -137 -239 -254 -231
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		 95 116 124 150 152 109 95 137 239 254 231
Long-Term Debt Interest Expense		 95 116 124 150 152 109 95 137 239 254 231
Total Non-Interest Income		 3,779 3,985 4,298 4,325 4,009 3,821 4,122 3,577 4,147 4,450 4,489
Other Service Charges		 89 172 314 96 409 267 440 33 460 522 377
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 1,489
Premiums Earned		 2,556 2,601 2,647 2,593 2,481 2,511 2,523 2,500 2,506 2,559 2,623
Total Non-Interest Expense		 3,317 3,516 3,693 4,435 3,582 3,368 3,294 2,623 3,551 3,655 3,965
Property & Liability Insurance Claims		 2,308 2,391 2,603 2,279 2,417 2,158 2,188 1,617 2,331 2,450 2,548
Current and Future Benefits		 - - - - - - -51 -16 -21 -41 -71
Other Operating Expenses		 739 872 842 1,882 933 942 982 951 1,048 1,055 1,120
Amortization Expense		 260 253 239 264 232 268 198 213 227 251 278
Impairment Charge		 - - - - - - - - 0.00 0.00 102
Other Special Charges		 9.00 0.00 9.50 15 - - -23 -142 -34 -61 -12
Income Tax Expense		 97 -5.00 305 50 -135 43 163 186 80 119 64
Basic Earnings per Share		 $1.40 $2.03 $1.03 ($1.90) $2.62 $2.12 $4.44 $5.45 $2.44 $3.96 $2.35
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 97.76M
Diluted Earnings per Share		 $1.39 $2.01 $1.02 ($1.90) $2.61 $2.11 $4.35 $5.36 $2.40 $3.89 $2.30
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 99.82M
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 94.28M
Cash Dividends to Common per Share		 - $0.31 - $0.39 - $0.47 - $0.55 $0.59 $0.63 $0.67

Quarterly Income Statements for CNO Financial Group

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 36 112 116 9.30 166 22 92 23 101 38 126
Consolidated Net Income / (Loss)		 36 112 116 9.30 166 22 92 23 101 38 126
Net Income / (Loss) Continuing Operations		 36 112 116 9.30 166 22 92 23 101 38 126
Total Pre-Tax Income 		46 146 151 11 211 28 118 36 122 48 160
Total Revenue		 1,107 1,096 1,002 1,062 1,035 944 1,092 1,132 1,090 979 1,230
Net Interest Income / (Expense)		 -64 -60 -64 -68 -62 -62 -59 -57 -53 -51 -55
Total Interest Income		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Expense		 64 60 64 68 62 62 59 57 53 51 55
Long-Term Debt Interest Expense		 64 60 64 68 62 62 59 57 53 51 55
Total Non-Interest Income		 1,171 1,157 1,066 1,130 1,097 1,006 1,152 1,189 1,143 1,030 1,285
Other Service Charges		 210 218 90 117 96 -15 140 150 101 -16 207
Net Realized & Unrealized Capital Gains on Investments		 335 310 335 368 358 370 360 380 380 372 397
Premiums Earned		 626 628 642 645 644 651 651 658 662 673 681
Total Non-Interest Expense		 1,061 950 851 1,051 825 916 974 1,096 968 930 1,070
Property & Liability Insurance Claims		 756 637 574 731 546 570 658 702 608 577 743
Current and Future Benefits		 -30 -6.40 -30 7.30 -12 -12 -13 -31 -15 -6.50 -15
Other Operating Expenses		 273 278 251 248 256 275 271 258 315 275 276
Amortization Expense		 59 61 61 - 65 67 69 - - 74 75
Other Special Charges		 2.40 -19 -5.80 - -31 15 -11 - - 11 -8.30
Income Tax Expense		 9.80 34 34 1.70 44 6.30 26 13 21 11 34
Basic Earnings per Share		 $0.33 $1.03 $1.08 $0.09 $1.61 $0.21 $0.93 $0.24 $1.04 $0.40 $1.35
Weighted Average Basic Shares Outstanding		 113.28M 108.96M 107.73M 105.10M 106.14M 100.74M 98.57M 96.60M 97.76M 94.08M 93.19M
Diluted Earnings per Share		 $0.31 $1.01 $1.06 $0.09 $1.58 $0.21 $0.91 $0.24 $1.02 $0.39 $1.33
Weighted Average Diluted Shares Outstanding		 115.12M 110.85M 109.26M 107.13M 108.12M 103.07M 100.39M 98.55M 99.82M 96.14M 94.95M
Weighted Average Basic & Diluted Shares Outstanding		 108.99M 108.26M 105.76M 103.21M 100.88M 99.14M 96.93M 95.35M 94.28M 93.35M 92.52M

Annual Cash Flow Statements for CNO Financial Group

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 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		 -179 -129 -544 -101 -1.90 337 -260 -87 244 1,109 -1,014
Net Cash From Operating Activities		 748 776 633 318 697 736 598 495 583 628 676
Net Cash From Continuing Operating Activities		 0.00 0.00 0.00 318 694 -485 598 495 642 683 713
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 0.00
Non-Cash Adjustments to Reconcile Net Income		 - - - 318 694 -485 598 495 642 683 713
Net Cash From Investing Activities		 -1,070 -930 -270 -526 -556 -608 -1,526 -1,781 -872 -1,489 -1,667
Net Cash From Continuing Investing Activities		 -1,070 -930 -270 -526 -556 -608 -1,526 -1,781 -872 -1,489 -1,667
Purchase of Investment Securities		 -4,805 -6,267 -6,164 -6,206 -5,576 -4,321 -6,155 -6,524 -3,658 -6,891 -8,463
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 6,795
Net Cash From Financing Activities		 143 26 -274 107 -143 210 668 1,199 534 1,970 -23
Net Cash From Continuing Financing Activities		 143 26 -274 107 -143 210 669 1,199 534 1,984 -23
Issuance of Debt		 1,930 926 1,414 428 1,031 644 796 285 996 1,579 777
Issuance of Common Equity		 6.30 8.40 8.30 3.90 9.20 19 22 14 13 11 12
Repayment of Debt		 -2,598 -2,030 -2,914 -1,740 -2,605 -1,738 -2,080 -1,867 -2,427 -3,171 -3,632
Repurchase of Common Equity		 -365 -210 -168 -108 -255 -268 -408 -190 -166 -300 -331
Payment of Dividends		 -52 -55 -60 -65 -67 -67 -66 -65 -68 -68 -66
Other Financing Activities, Net		 1,222 1,387 1,446 1,589 1,743 1,620 2,405 3,023 2,186 3,932 3,219
Cash Income Taxes Paid		 - - -77 - -2.40 - - - 59 55 38

Quarterly Cash Flow Statements for CNO Financial Group

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 310 -236 339 253 752 -973 -209 426 -258 171 152
Net Cash From Operating Activities		 177 95 111 231 191 137 146 198 196 149 157
Net Cash From Continuing Operating Activities		 177 95 111 231 191 137 148 198 233 149 157
Non-Cash Adjustments to Reconcile Net Income		 177 95 111 231 191 137 148 198 233 149 157
Net Cash From Investing Activities		 73 -24 -1,146 -168 -151 -538 -122 -106 -901 -184 -604
Net Cash From Continuing Investing Activities		 73 -24 -1,146 -168 -151 -538 -122 -106 -901 -184 -604
Purchase of Investment Securities		 -687 -1,060 -2,410 -1,903 -1,518 -1,640 -1,992 -1,661 -3,170 -4,834 -4,254
Sale and/or Maturity of Investments		 766 1,039 1,267 1,735 1,374 1,105 1,869 1,554 2,271 4,655 3,656
Other Investing Activities, net		 -6.30 -2.50 -3.20 -0.50 -7.30 -3.40 - - - -4.60 -5.40
Net Cash From Financing Activities		 57 -310 1,377 190 713 -571 -232 334 447 206 599
Net Cash From Continuing Financing Activities		 61 -307 1,381 194 716 -568 -232 345 436 210 603
Issuance of Debt		 100 222 706 68 584 235 292 250 - 450 327
Issuance of Common Equity		 2.10 2.80 1.00 4.30 3.10 6.50 0.60 2.50 2.00 5.60 1.00
Repayment of Debt		 -529 -979 -581 -771 -839 -1,256 -1,064 -793 -519 -716 -620
Repurchase of Common Equity		 -70 -59 -60 -90 -92 -110 -100 -61 -60 -73 -61
Payment of Dividends		 -17 -17 -17 -17 -16 -17 -17 -16 -16 -17 -17
Other Financing Activities, Net		 574 524 1,332 1,000 1,076 574 656 963 1,029 561 972

Annual Balance Sheets for CNO Financial Group

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 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		 31,125 31,975 33,110 31,440 33,631 35,340 36,204 33,133 35,027 37,849 38,791
Cash and Due from Banks		 797 668 757 657 655 0.00 732 645 889 1,998 984
Trading Account Securities		 20,608 22,044 23,636 18,972 21,583 0.00 25,164 20,697 320 577 684
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		 237 240 246 205 206 0.00 216 236 252 286 286
Deferred Acquisition Cost		 1,083 1,045 1,027 1,323 1,216 1,028 1,112 1,771 1,944 2,159 2,397
Separate Account Business Assets		 4.70 4.70 5.00 4.40 4.20 0.00 3.90 2.70 3.10 3.30 2.80
Other Assets		 6,674 6,206 5,789 8,677 8,401 5,033 8,977 9,782 31,620 32,827 34,437
Total Liabilities & Shareholders' Equity		 31,125 31,975 33,110 31,440 33,631 0.00 36,204 33,133 35,027 37,849 38,791
Total Liabilities		 26,987 27,488 28,263 28,069 28,954 29,856 30,945 31,364 32,812 35,334 36,152
Long-Term Debt		 4,136 4,223 3,972 3,980 3,786 0.00 4,001 3,883 4,151 4,520 4,052
Claims and Claim Expense		 488 501 530 522 522 562 502 64 62 61 58
Future Policy Benefits		 10,602 10,953 11,521 11,154 11,499 11,744 11,671 11,240 12,188 11,706 11,898
Unearned Premiums Liability		 286 283 262 254 261 0.00 247 235 219 227 228
Participating Policy Holder Equity		 - - - - - 12,541 13,690 15,234 15,223 17,594 18,913
Separate Account Business Liabilities		 4.70 4.70 5.00 4.40 4.20 0.00 3.90 2.70 3.10 3.30 2.80
Other Long-Term Liabilities		 11,470 11,524 11,973 12,155 12,883 0.00 831 705 966 1,223 1,001
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		 4,139 4,487 4,848 3,371 4,677 2,938 5,260 1,769 2,216 2,515 2,638
Total Preferred & Common Equity		 4,139 4,487 4,848 3,371 4,677 5,484 5,260 1,769 2,216 2,515 2,638
Total Common Equity		 4,139 4,487 4,848 3,371 4,677 2,938 5,260 1,769 2,216 2,515 2,638
Common Stock		 3,389 3,214 3,075 2,997 2,769 0.00 2,185 2,035 1,893 1,634 1,337
Retained Earnings		 347 651 560 197 536 752 1,127 1,691 1,900 2,253 2,416
Accumulated Other Comprehensive Income / (Loss)		 403 622 1,212 178 1,373 2,186 1,947 -1,957 -1,577 -1,371 -1,115

Quarterly Balance Sheets for CNO Financial Group

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Total Assets		 34,015 34,054 33,507 34,940 36,290 37,645 37,436 37,329 38,296 38,963 39,861
Cash and Due from Banks		 522 562 583 650 992 1,245 1,025 816 1,242 1,154 1,306
Trading Account Securities		 21,421 21,275 20,622 341 22,943 24,063 23,940 23,743 24,079 24,494 25,092
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		 241 242 252 252 263 276 290 279 282 284 303
Deferred Acquisition Cost		 1,811 1,858 1,898 1,992 2,047 2,101 2,210 2,276 2,344 2,441 2,508
Separate Account Business Assets		 2.80 3.00 2.90 3.30 3.20 3.30 3.10 2.90 2.70 2.70 3.00
Other Assets		 10,016 10,114 10,150 31,701 10,042 9,957 9,969 10,212 10,347 10,587 10,650
Total Liabilities & Shareholders' Equity		 34,015 34,054 33,507 34,940 36,290 37,645 37,436 37,329 38,296 38,963 39,861
Total Liabilities		 31,983 32,058 31,617 32,572 33,861 34,958 34,906 34,806 35,685 36,465 37,270
Long-Term Debt		 4,044 3,980 4,148 3,896 4,523 4,305 4,398 4,129 4,051 4,302 4,553
Claims and Claim Expense		 68 65 61 65 60 60 64 61 62 59 62
Future Policy Benefits		 11,623 11,480 10,830 11,737 11,479 12,180 11,773 11,788 11,976 11,722 11,785
Unearned Premiums Liability		 244 234 221 226 221 217 222 217 215 225 219
Participating Policy Holder Equity		 15,303 15,388 15,482 15,737 16,638 17,241 17,346 17,609 18,290 18,997 19,641
Separate Account Business Liabilities		 2.80 3.00 2.90 3.30 3.20 3.30 3.10 2.90 2.70 2.70 3.00
Other Long-Term Liabilities		 699 909 873 909 938 952 1,101 1,000 1,090 1,157 1,008
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		 2,032 1,996 1,890 2,368 2,429 2,688 2,531 2,523 2,611 2,498 2,592
Total Preferred & Common Equity		 2,032 1,996 1,890 2,368 2,429 2,688 2,531 2,523 2,611 2,498 2,592
Total Common Equity		 2,032 1,996 1,890 2,368 2,429 2,688 2,531 2,523 2,611 2,498 2,592
Common Stock		 2,022 1,999 1,966 1,852 1,799 1,717 1,536 1,442 1,390 1,279 1,228
Retained Earnings		 1,674 1,730 1,880 1,996 2,095 2,087 2,234 2,333 2,340 2,437 2,546
Accumulated Other Comprehensive Income / (Loss)		 -1,664 -1,734 -1,957 -1,480 -1,464 -1,116 -1,239 -1,253 -1,119 -1,218 -1,183

Annual Metrics And Ratios for CNO Financial Group

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 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		 $1.40 $2.03 $1.03 ($1.90) $2.62 $2.12 $3.43 $3.43 $2.44 $3.81 $2.35
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 97.76M
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 $2.30
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 99.82M
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		 179.59M 173.80M 166.88M 160.72M 146.28M 134.64M 118.47M 114.22M 108.99M 100.88M 94.28M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for CNO Financial Group

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 94,277,712.00 93,348,503.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 94,277,712.00 93,348,503.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.40 1.35
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 19.55% 15.24% 3.81% 19.97% -6.47% -13.93% 9.02% 6.64% - 3.72% 12.59%
EBITDA Growth		 2.14% 279.27% 39.38% -72.49% 162.67% -58.83% -11.98% 229.09% - 28.78% 25.72%
EBIT Growth		 -4.95% 14,720.00% 56.71% -94.90% 356.62% -87.89% -21.65% 229.09% - 74.10% 35.34%
NOPAT Growth		 -4.47% 16,142.86% 57.80% -94.44% 357.58% -87.80% -21.07% 148.39% - 75.35% 37.15%
Net Income Growth		 -4.47% 14,137.50% 57.80% -94.44% 357.58% -87.80% -21.07% 148.39% - 75.35% 37.15%
EPS Growth		 -6.06% 10,200.00% 65.63% -93.84% 409.68% -87.13% -14.15% 166.67% - 85.71% 46.15%
Operating Cash Flow Growth		 9.82% 15.51% -21.63% 26.48% 8.09% 44.50% 31.20% -14.45% - 8.85% 7.63%
Free Cash Flow Firm Growth		 -118.60% -104.92% -501.92% -39.16% 28.34% -768.53% 145.56% 137.41% - 125.73% -193.56%
Invested Capital Growth		 12.64% 3.08% 16.33% 15.81% 10.24% 10.62% -4.31% -4.73% - -1.85% 7.40%
Revenue Q/Q Growth		 25.08% -0.95% -8.60% 5.95% -2.49% -8.85% 15.77% 3.63% - -10.20% 25.67%
EBITDA Q/Q Growth		 -61.48% 96.86% 2.56% -64.62% 267.73% -69.14% 119.27% -80.60% - 0.91% 91.35%
EBIT Q/Q Growth		 -78.62% 217.14% 3.01% -92.70% 1,813.64% -91.59% 566.67% -69.32% - -60.16% 229.96%
NOPAT Q/Q Growth		 -78.30% 209.37% 3.56% -92.00% 1,686.02% -91.75% 570.07% -74.84% - -62.56% 233.95%
Net Income Q/Q Growth		 -78.30% 209.37% 3.56% -92.00% 1,686.02% -91.75% 570.07% -74.84% - -62.56% 233.95%
EPS Q/Q Growth		 -78.77% 225.81% 4.95% -91.51% 1,655.56% -91.77% 600.00% -73.63% - -61.76% 241.03%
Operating Cash Flow Q/Q Growth		 -3.34% -46.46% 17.23% 108.48% -17.39% -28.43% 6.44% 35.95% - -23.97% 5.24%
Free Cash Flow Firm Q/Q Growth		 0.16% 88.94% -1,045.73% -10.01% 48.59% -34.03% 160.10% -9.68% - -62.86% -321.20%
Invested Capital Q/Q Growth		 5.43% -1.62% 10.99% 0.59% 0.37% -1.28% -3.99% 0.15% - 1.65% 5.05%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 9.49% 18.85% 21.16% 7.06% 26.64% 9.02% 17.08% 3.20% - 12.53% 19.07%
EBIT Margin		 4.17% 13.34% 15.03% 1.04% 20.33% 1.88% 10.80% 3.20% - 4.95% 12.98%
Profit (Net Income) Margin		 3.28% 10.24% 11.61% 0.88% 16.05% 1.45% 8.40% 2.04% - 3.85% 10.24%
Tax Burden Percent		 78.74% 76.81% 77.22% 84.55% 78.91% 77.40% 77.80% 63.81% - 77.89% 78.84%
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		 21.26% 23.19% 22.78% 15.45% 21.09% 22.60% 22.20% 36.19% - 22.11% 21.16%
Return on Invested Capital (ROIC)		 2.13% 6.73% 7.34% 0.57% 10.06% 0.89% 5.11% 1.26% - 2.41% 6.58%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.13% 6.73% 7.34% 0.57% 10.06% 0.89% 5.11% 1.26% - 2.41% 6.58%
Return on Net Nonoperating Assets (RNNOA)		 4.30% 12.14% 14.11% 1.06% 18.50% 1.51% 8.92% 1.98% - 4.17% 11.16%
Return on Equity (ROE)		 6.43% 18.87% 21.46% 1.63% 28.56% 2.40% 14.03% 3.24% - 6.58% 17.74%
Cash Return on Invested Capital (CROIC)		 -7.29% 3.28% -8.41% -10.44% -3.71% -5.45% 8.54% 9.16% - 5.44% -3.08%
Operating Return on Assets (OROA)		 0.48% 1.57% 1.75% 0.12% 2.34% 0.21% 1.21% 0.35% - 0.56% 1.49%
Return on Assets (ROA)		 0.38% 1.20% 1.35% 0.11% 1.85% 0.16% 0.94% 0.23% - 0.43% 1.18%
Return on Common Equity (ROCE)		 6.43% 18.87% 21.46% 1.63% 28.56% 2.40% 14.03% 3.24% - 6.58% 17.74%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 16.45% 17.79% 10.20% 0.00% 12.07% 11.13% 11.29% - 9.83% 10.79%
Net Operating Profit after Tax (NOPAT)		 36 112 116 9.30 166 14 92 23 - 38 126
NOPAT Margin		 3.28% 10.24% 11.61% 0.88% 16.05% 1.45% 8.40% 2.04% - 3.85% 10.24%
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		 95.83% 86.66% 84.97% 98.96% 79.67% 98.12% 89.20% 96.80% - 95.05% 87.02%
Earnings before Interest and Taxes (EBIT)		 46 146 151 11 211 18 118 36 - 48 160
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 105 207 212 75 276 85 187 36 - 123 235
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.38 1.29 1.24 1.38 1.54 1.66 1.52 1.47 - 1.55 1.84
Price to Tangible Book Value (P/TBV)		 1.38 1.29 1.24 1.38 1.54 1.66 1.52 1.47 - 1.55 1.84
Price to Revenue (P/Rev)		 0.78 0.76 0.73 0.87 0.92 1.04 0.93 0.91 - 0.90 1.07
Price to Earnings (P/E)		 11.09 7.87 6.94 13.54 9.51 13.76 13.62 13.01 - 15.77 17.02
Dividend Yield		 2.16% 2.20% 2.20% 1.77% 1.69% 1.54% 1.68% 1.67% - 1.66% 1.35%
Earnings Yield		 9.02% 12.71% 14.40% 7.39% 10.52% 7.27% 7.34% 7.69% - 6.34% 5.88%
Enterprise Value to Invested Capital (EV/IC)		 0.99 1.01 0.94 0.97 0.91 1.09 1.07 1.00 - 1.03 1.12
Enterprise Value to Revenue (EV/Rev)		 1.62 1.56 1.60 1.59 1.52 1.87 1.73 1.58 - 1.63 1.81
Enterprise Value to EBITDA (EV/EBITDA)		 10.83 8.57 8.20 11.31 8.27 11.69 11.47 17.37 - 11.72 12.38
Enterprise Value to EBIT (EV/EBIT)		 17.73 12.52 11.69 19.14 12.28 19.43 19.98 17.37 - 22.35 22.51
Enterprise Value to NOPAT (EV/NOPAT)		 22.88 16.20 15.11 24.70 15.75 24.80 25.41 22.54 - 28.59 28.63
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.86 10.60 11.56 11.04 10.14 11.31 10.13 9.90 - 10.20 11.45
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 31.19 0.00 0.00 0.00 0.00 12.29 10.63 - 18.80 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.87 1.65 1.86 1.60 1.81 1.74 1.64 1.55 - 1.72 1.76
Long-Term Debt to Equity		 1.87 1.65 1.86 1.60 1.81 1.74 1.64 1.55 - 1.72 1.76
Financial Leverage		 2.02 1.80 1.92 1.85 1.84 1.69 1.75 1.58 - 1.73 1.70
Leverage Ratio		 17.11 15.67 15.90 15.54 15.46 14.78 14.87 14.33 - 15.19 15.09
Compound Leverage Factor		 17.11 15.67 15.90 15.54 15.46 14.78 14.87 14.33 - 15.19 15.09
Debt to Total Capital		 65.20% 62.20% 65.06% 61.56% 64.40% 63.48% 62.08% 60.81% - 63.26% 63.72%
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		 65.20% 62.20% 65.06% 61.56% 64.40% 63.48% 62.08% 60.81% - 63.26% 63.72%
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		 34.80% 37.80% 34.94% 38.44% 35.60% 36.52% 37.92% 39.19% - 36.74% 36.28%
Debt to EBITDA		 7.10 5.29 5.68 7.19 5.87 6.79 6.63 10.59 - 7.18 7.04
Net Debt to EBITDA		 5.58 4.41 4.43 5.11 3.28 5.21 5.32 7.35 - 5.26 5.02
Long-Term Debt to EBITDA		 7.10 5.29 5.68 7.19 5.87 6.79 6.63 10.59 - 7.18 7.04
Debt to NOPAT		 15.01 10.00 10.46 15.70 11.19 14.40 14.70 13.75 - 17.52 16.28
Net Debt to NOPAT		 11.80 8.33 8.17 11.16 6.24 11.04 11.79 9.53 - 12.82 11.61
Long-Term Debt to NOPAT		 15.01 10.00 10.46 15.70 11.19 14.40 14.70 13.75 - 17.52 16.28
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)		 -678 -75 -859 -945 -486 -651 392 354 - 166 -366
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		 -10.65 -1.25 -13.38 -13.90 -7.84 -10.51 6.62 6.25 - 3.25 -6.62
Operating Cash Flow to Interest Expense		 2.77 1.57 1.73 3.40 3.08 2.20 2.46 3.49 - 2.92 2.83
Operating Cash Flow Less CapEx to Interest Expense		 2.77 1.57 1.73 3.40 3.08 2.20 2.46 3.49 - 2.92 2.83
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.11 0.12 0.12 0.12 0.12 0.11 0.11 0.11 - 0.11 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
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,366 6,263 6,952 6,993 7,018 6,928 6,652 6,662 - 6,801 7,144
Invested Capital Turnover		 0.65 0.66 0.63 0.65 0.63 0.61 0.61 0.62 - 0.63 0.64
Increase / (Decrease) in Invested Capital		 715 187 976 955 652 665 -300 -331 - -128 492
Enterprise Value (EV)		 6,328 6,310 6,532 6,772 6,363 7,575 7,138 6,643 - 7,019 8,005
Market Capitalization		 3,066 3,065 3,001 3,712 3,840 4,202 3,825 3,834 - 3,871 4,759
Book Value per Share		 $19.75 $21.73 $22.44 $25.41 $24.21 $25.08 $25.45 $26.94 - $26.50 $27.76
Tangible Book Value per Share		 $19.75 $21.73 $22.44 $25.41 $24.21 $25.08 $25.45 $26.94 - $26.50 $27.76
Total Capital		 6,366 6,263 6,952 6,993 7,018 6,928 6,652 6,662 - 6,801 7,144
Total Debt		 4,151 3,896 4,523 4,305 4,520 4,398 4,129 4,051 - 4,302 4,553
Total Long-Term Debt		 4,151 3,896 4,523 4,305 4,520 4,398 4,129 4,051 - 4,302 4,553
Net Debt		 3,262 3,246 3,531 3,060 2,522 3,373 3,313 2,810 - 3,148 3,247
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 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Net Nonoperating Obligations (NNO)		 4,151 3,896 4,523 4,305 4,520 4,398 4,129 4,051 - 4,302 4,553
Total Depreciation and Amortization (D&A)		 59 61 61 64 65 67 69 0.00 - 74 75
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.33 $1.03 $1.08 $0.09 $1.61 $0.14 $0.93 $0.24 $1.04 $0.40 $1.35
Adjusted Weighted Average Basic Shares Outstanding		 113.28M 108.96M 107.73M 105.10M 106.14M 100.74M 98.57M 96.60M 97.76M 94.08M 93.19M
Adjusted Diluted Earnings per Share		 $0.31 $1.01 $1.06 $0.09 $1.58 $0.13 $0.91 $0.24 $1.02 $0.39 $1.33
Adjusted Weighted Average Diluted Shares Outstanding		 115.12M 110.85M 109.26M 107.13M 108.12M 103.07M 100.39M 98.55M 99.82M 96.14M 94.95M
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		 108.99M 108.26M 105.76M 103.21M 100.88M 99.14M 96.93M 95.35M 94.28M 93.35M 92.52M
Normalized Net Operating Profit after Tax (NOPAT)		 38 102 116 -4.31 142 26 83 85 - 46 119
Normalized NOPAT Margin		 3.45% 9.28% 11.59% -0.41% 13.72% 2.71% 7.63% 7.49% - 4.70% 9.70%
Pre Tax Income Margin		 4.17% 13.34% 15.03% 1.04% 20.33% 1.88% 10.80% 3.20% - 4.95% 12.98%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.72 2.43 2.35 0.16 3.40 0.29 2.00 0.64 - 0.95 2.89
NOPAT to Interest Expense		 0.57 1.87 1.81 0.14 2.68 0.22 1.55 0.41 - 0.74 2.28
EBIT Less CapEx to Interest Expense		 0.72 2.43 2.35 0.16 3.40 0.29 2.00 0.64 - 0.95 2.89
NOPAT Less CapEx to Interest Expense		 0.57 1.87 1.81 0.14 2.68 0.22 1.55 0.41 - 0.74 2.28
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 24.63% 17.53% 15.76% 24.80% 16.76% 22.04% 23.78% 22.53% - 27.05% 23.75%
Augmented Payout Ratio		 84.70% 68.63% 68.76% 126.48% 91.06% 137.20% 163.40% 145.67% - 146.97% 114.95%

Financials Breakdown Chart

Key Financial Trends

CNO Financial Group’s latest quarter shows a mix of steady profitability, strong operating cash flow, and a healthier balance sheet, but earnings remain highly dependent on investment gains and expense discipline. Over the last four years, the company has generally improved its earnings power from the weak 2023 period, though results still swing meaningfully from quarter to quarter.

  • Profitability improved sharply year over year. Q1 2026 net income rose to $37.7 million, up from $21.5 million in Q1 2025 and a loss in Q1 2023.
  • Operating cash flow remains solid. CNO generated $148.8 million of operating cash in Q1 2026, versus $136.7 million in Q1 2025 and $81.9 million in Q1 2023.
  • Liquidity appears strong. Cash and due from banks increased to $1.15 billion in Q1 2026 from $1.03 billion a year earlier and $0.52 billion in Q1 2023.
  • Book equity improved versus early 2025. Total common equity rose to $2.50 billion in Q1 2026 from $2.53 billion in Q1 2025, while still remaining above 2023 levels.
  • Revenue generation has been resilient. Q1 2026 total revenue was $978.7 million, supported by premiums earned and investment gains.
  • Q4 2025 was a particularly strong quarter. Net income reached $100.7 million and diluted EPS was $1.02, showing the business can produce much stronger results when conditions are favorable.
  • Non-interest income is a major earnings driver. Premiums earned and capital gains continue to dominate revenue, which makes results sensitive to market and insurance performance.
  • Debt remains material. Long-term debt stood at $4.30 billion in Q1 2026, down from $4.39 billion in Q1 2025 but still significant relative to equity.
  • Quarterly earnings remain volatile. Results swung from $100.7 million in Q4 2025 to $37.7 million in Q1 2026, and were just $21.5 million in Q1 2025 after a loss in Q1 2023.
  • Margins are pressured by insurance claims and operating costs. Claims, benefits, amortization, and other operating expenses continue to absorb a large share of revenue.

Longer-term trend: Compared with 2023, CNO has moved from a period of weak or negative quarterly earnings to a more stable profit profile in 2024 and 2025. Revenue and operating cash flow have generally trended upward, but the company’s bottom line still depends heavily on investment results and expense control. The balance sheet also shows leverage that investors should keep an eye on, even as liquidity and equity have remained manageable.

Bottom line: CNO looks financially steadier than it did two years ago, but investors should expect uneven quarterly results. The stock may appeal to income-oriented investors, yet the reliance on capital gains and the still-sizeable debt load make consistency an important watch item.

08/07/26 09:11 PM ETAI Generated. May Contain Errors.

CNO Financial Group Financials - Frequently Asked Questions

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

CNO Financial Group's net income appears to be on an upward trend, with a most recent value of $229.30 million in 2025, falling from $270.70 million in 2015. The previous period was $420.80 million in 2024. Check out CNO Financial Group's forecast to explore projected trends and price targets.

Over the last 10 years, CNO Financial Group's total revenue changed from $3.68 billion in 2015 to $4.26 billion in 2025, a change of 15.6%.

CNO Financial Group's total liabilities were at $36.15 billion at the end of 2025, a 2.3% increase from 2024, and a 34.0% increase since 2015.

In the past 10 years, CNO Financial Group's cash and equivalents has ranged from $0.00 in 2020 to $2.00 billion in 2024, and is currently $983.50 million as of their latest financial filing in 2025.


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Financial statements for NYSE:CNO last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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