What is CNA Financial's earnings per share (EPS)?

CNA Financial (CNA) reported diluted earnings per share of $4.69 for fiscal year 2025. This represents a 33.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

CNA Financial Financials

CNA

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows CNA Financial (CNA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CNA FY2025 2026-05-04

Cash conversion stays consistently stronger than reported earnings, revealing an asset-light, liability-funded operating model rather than a capex-hungry one.

Across FY2023-FY2025, operating cash flow held close to $2.5B even when net income dropped to $959M in FY2024. In FY2025, free cash flow was still $2.4B because capex was only $86M, which points to earnings being backed by cash turnover more than by heavy physical reinvestment.

Most of the balance-sheet weight comes from liabilities other than funded debt: FY2025 liabilities were $57.8B, while long-term debt was only $3.0B. That mix means the headline size of obligations can look more severe than the actual borrowing load, especially with reported debt-to-equity around 0.3x.

Profitability has been less stable than revenue: net margin moved from 9.1% in FY2023 to 6.7% in FY2024 even as revenue kept rising, then rebounded in FY2025. Shareholder payouts also look internally funded, with dividends of $1.0B in FY2025 sitting well below free cash flow of $2.4B.

Financial Health Signals

Financial Health Score 34/100

Scored as: Insurers peer group

Scored against insurers for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of CNA Financial's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Loss Ratio

Premium Growth

Capital

Combined Ratio

Stability

Piotroski F-Score Partial

7/7

CNA Financial passes 7 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.95x

For every $1 of reported earnings, CNA Financial generates $1.95 in operating cash flow ($2.5B OCF vs $1.3B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$15.0B

YoY+5.0%

5Y CAGR+6.8%

10Y CAGR+5.1%

CNA Financial generated $15.0B in revenue in fiscal year 2025. This represents an increase of 5.0% from the prior year.

EBITDA

N/A

Net Income

$1.3B

YoY+33.3%

5Y CAGR+13.1%

10Y CAGR+10.3%

CNA Financial reported $1.3B in net income in fiscal year 2025. This represents an increase of 33.3% from the prior year.

EPS (Diluted)

$4.69

YoY+33.2%

5Y CAGR+13.1%

10Y CAGR+10.2%

CNA Financial earned $4.69 per diluted share (EPS) in fiscal year 2025. This represents an increase of 33.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$2.4B

YoY-2.9%

5Y CAGR+6.5%

10Y CAGR+6.7%

CNA Financial generated $2.4B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 2.9% from the prior year.

Cash & Debt

$425.0M

YoY-10.0%

5Y CAGR+0.3%

10Y CAGR+0.9%

CNA Financial held $425.0M in cash against $3.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

$3.84

YoY+2.1%

5Y CAGR+2.0%

10Y CAGR+2.5%

CNA Financial paid $3.84 per share in dividends in fiscal year 2025. This represents an increase of 2.1% from the prior year.

Shares Outstanding

271M

YoY-0.1%

5Y CAGR-0.1%

10Y CAGR+0.0%

CNA Financial had 271M shares outstanding in fiscal year 2025. This represents a decrease of 0.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

8.5%

YoY+1.8pp

5Y CAGR+2.2pp

10Y CAGR+3.3pp

CNA Financial's net profit margin was 8.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.8 percentage points from the prior year.

Return on Equity

11.0%

YoY+1.9pp

5Y CAGR+5.6pp

10Y CAGR+6.9pp

CNA Financial's ROE was 11.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.9 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$34.0M

YoY+70.0%

5Y CAGR+13.6%

CNA Financial spent $34.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 70.0% from the prior year.

Capital Expenditures

$86.0M

YoY-9.5%

5Y CAGR+30.2%

10Y CAGR-3.7%

CNA Financial invested $86.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 9.5% from the prior year.

CNA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$15.0B+5.0%	$14.3B+7.3%	$13.3B+12.0%	$11.9B-0.2%	$11.9B+10.2%	$10.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$135.0M+1.5%	$133.0M+4.7%	$127.0M+13.4%	$112.0M-0.9%	$113.0M-7.4%	$122.0M
Income Tax	$342.0M+35.7%	$252.0M-19.5%	$313.0M+137.1%	$132.0M-52.5%	$278.0M+112.2%	$131.0M
Net Income	$1.3B+33.3%	$959.0M-20.4%	$1.2B+76.7%	$682.0M-42.4%	$1.2B+71.6%	$690.0M
EPS (Diluted)	$4.69+33.2%	$3.52-20.5%	$4.43+76.5%	$2.51-42.2%	$4.34+71.5%	$2.53

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$3.7B-3.9%	$3.8B+0.3%	$3.8B+2.7%	$3.7B+2.5%	$3.6B-1.7%	$3.7B+2.0%	$3.6B+2.8%	$3.5B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$33.0M-8.3%	$36.0M0.0%	$36.0M+16.1%	$31.0M-3.1%	$32.0M0.0%	$32.0M0.0%	$32.0M-5.9%	$34.0M
Income Tax	$56.0M-26.3%	$76.0M-30.9%	$110.0M+35.8%	$81.0M+8.0%	$75.0M	$0-100.0%	$78.0M-8.2%	$85.0M
Net Income	$211.0M-30.1%	$302.0M-25.1%	$403.0M+34.8%	$299.0M+9.1%	$274.0M+1204.8%	$21.0M-92.6%	$283.0M-10.7%	$317.0M
EPS (Diluted)	$0.78	N/A	$1.48+34.5%	$1.10+10.0%	$1.00	N/A	$1.04-11.1%	$1.17

CNA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$69.4B+4.4%	$66.5B+2.8%	$64.7B+6.1%	$61.0B-8.5%	$66.6B+4.1%	$64.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$425.0M-10.0%	$472.0M+36.8%	$345.0M-27.4%	$475.0M-11.4%	$536.0M+27.9%	$419.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$148.0M+2.1%	$145.0M-0.7%	$146.0M+1.4%	$144.0M-2.7%	$148.0M0.0%	$148.0M
Total Liabilities	$57.8B+3.3%	$56.0B+2.1%	$54.8B+4.5%	$52.5B-2.6%	$53.8B+4.9%	$51.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$3.0B-0.1%	$3.0B+19.8%	$2.5B-2.2%	$2.5B-8.7%	$2.8B+0.1%	$2.8B
Total Equity	$11.6B+10.5%	$10.5B+6.3%	$9.9B+15.7%	$8.5B-23.0%	$11.1B-12.6%	$12.7B
Retained Earnings	$9.9B+2.4%	$9.7B-0.7%	$9.8B+4.5%	$9.3B-3.4%	$9.7B+6.4%	$9.1B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$68.6B-1.3%	$69.4B-0.4%	$69.8B+1.2%	$68.9B+2.4%	$67.3B+1.3%	$66.5B-1.3%	$67.4B+3.3%	$65.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$522.0M+22.8%	$425.0M-12.0%	$483.0M+29.5%	$373.0M-22.8%	$483.0M+2.3%	$472.0M+3.5%	$456.0M+21.6%	$375.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$147.0M-0.7%	$148.0M0.0%	$148.0M0.0%	$148.0M+1.4%	$146.0M+0.7%	$145.0M-1.4%	$147.0M+0.7%	$146.0M
Total Liabilities	$57.7B-0.2%	$57.8B-1.0%	$58.4B+0.3%	$58.3B+2.2%	$57.0B+1.9%	$56.0B-1.1%	$56.6B+2.3%	$55.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$3.0B0.0%	$3.0B0.0%	$3.0B+20.0%	$2.5B0.0%	$2.5B-16.8%	$3.0B0.0%	$3.0B0.0%	$3.0B
Total Equity	$10.9B-6.6%	$11.6B+2.6%	$11.3B+6.2%	$10.7B+3.7%	$10.3B-2.2%	$10.5B-2.3%	$10.8B+9.0%	$9.9B
Retained Earnings	$9.4B-4.7%	$9.9B+1.8%	$9.7B+2.9%	$9.5B+1.9%	$9.3B-4.1%	$9.7B-1.0%	$9.8B+1.7%	$9.6B

CNA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$2.5B-3.2%	$2.6B+12.5%	$2.3B-8.7%	$2.5B+25.3%	$2.0B+12.5%	$1.8B
Capital Expenditures	$86.0M-9.5%	$95.0M+5.6%	$90.0M+73.1%	$52.0M+100.0%	$26.0M+13.0%	$23.0M
Free Cash Flow	$2.4B-2.9%	$2.5B+12.8%	$2.2B-10.4%	$2.5B+24.3%	$2.0B+12.5%	$1.8B
Investing Cash Flow	-$1.4B-10.0%	-$1.3B+28.5%	-$1.8B-21.9%	-$1.5B-23.1%	-$1.2B-74.2%	-$705.0M
Financing Cash Flow	-$1.1B+1.2%	-$1.1B-93.6%	-$577.0M+44.1%	-$1.0B-59.3%	-$648.0M+28.2%	-$902.0M
Dividends Paid	$1.0B+2.1%	$1.0B+30.2%	$787.0M-19.9%	$982.0M+58.1%	$621.0M-34.6%	$950.0M
Share Buybacks	$34.0M+70.0%	$20.0M-16.7%	$24.0M-38.5%	$39.0M+116.7%	$18.0M0.0%	$18.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$393.0M-31.1%	$570.0M-20.8%	$720.0M+28.1%	$562.0M-11.9%	$638.0M-9.2%	$703.0M-6.0%	$748.0M+21.4%	$616.0M
Capital Expenditures	$13.0M-53.6%	$28.0M+75.0%	$16.0M-33.3%	$24.0M+33.3%	$18.0M-52.6%	$38.0M+111.1%	$18.0M-5.3%	$19.0M
Free Cash Flow	$380.0M-29.9%	$542.0M-23.0%	$704.0M+30.9%	$538.0M-13.2%	$620.0M-6.8%	$665.0M-8.9%	$730.0M+22.3%	$597.0M
Investing Cash Flow	$444.0M+14900.0%	-$3.0M+99.7%	-$975.0M-74.4%	-$559.0M-735.2%	$88.0M+115.9%	-$555.0M-0.4%	-$553.0M-1482.5%	$40.0M
Financing Cash Flow	-$736.0M-17.6%	-$626.0M-269.6%	$369.0M+395.2%	-$125.0M+82.7%	-$722.0M-506.7%	-$119.0M+0.8%	-$120.0M+82.6%	-$689.0M
Dividends Paid	$682.0M+445.6%	$125.0M+0.8%	$124.0M-0.8%	$125.0M-81.4%	$673.0M+465.5%	$119.0M-0.8%	$120.0M+0.8%	$119.0M
Share Buybacks	$36.0M	$0	$0	$0-100.0%	$34.0M	$0	$0-100.0%	$20.0M

CNA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	8.5%+1.8pp	6.7%-2.3pp	9.1%+3.3pp	5.7%-4.2pp	9.9%+3.6pp	6.4%
Return on Equity	11.0%+1.9pp	9.1%-3.1pp	12.2%+4.2pp	8.0%-2.7pp	10.7%+5.2pp	5.4%
Return on Assets	1.8%+0.4pp	1.4%-0.4pp	1.9%+0.7pp	1.1%-0.7pp	1.8%+0.7pp	1.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.26-0.0	0.28+0.0	0.25-0.0	0.30+0.0	0.25+0.0	0.22
FCF Margin	16.0%-1.3pp	17.3%+0.8pp	16.5%-4.1pp	20.6%+4.1pp	16.6%+0.3pp	16.2%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	5.7%-2.1pp	7.9%-2.7pp	10.6%+2.5pp	8.0%+0.5pp	7.5%+7.0pp	0.6%-7.3pp	7.8%-1.2pp	9.0%
Return on Equity	1.9%-0.7pp	2.6%-1.0pp	3.6%+0.8pp	2.8%+0.1pp	2.7%+2.5pp	0.2%-2.4pp	2.6%-0.6pp	3.2%
Return on Assets	0.3%-0.1pp	0.4%-0.1pp	0.6%+0.1pp	0.4%+0.0pp	0.4%+0.4pp	0.0%-0.4pp	0.4%-0.1pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.27+0.0	0.260.0	0.26+0.0	0.230.0	0.24-0.0	0.280.0	0.28-0.0	0.30
FCF Margin	10.3%-3.8pp	14.2%-4.3pp	18.4%+4.0pp	14.5%-2.6pp	17.1%-0.9pp	18.0%-2.2pp	20.2%+3.2pp	17.0%

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Frequently Asked Questions

What is CNA Financial's annual revenue?

CNA Financial (CNA) reported $15.0B in total revenue for fiscal year 2025. This represents a 5.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is CNA Financial's revenue growing?

CNA Financial (CNA) revenue grew by 5% year-over-year, from $14.3B to $15.0B in fiscal year 2025.

Is CNA Financial profitable?

Yes, CNA Financial (CNA) reported a net income of $1.3B in fiscal year 2025, with a net profit margin of 8.5%.

How much debt does CNA Financial have?

As of fiscal year 2025, CNA Financial (CNA) had $425.0M in cash and equivalents against $3.0B in long-term debt.

What is CNA Financial's net profit margin?

CNA Financial (CNA) had a net profit margin of 8.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does CNA Financial pay dividends?

Yes, CNA Financial (CNA) paid $3.84 per share in dividends during fiscal year 2025.

What is CNA Financial's return on equity (ROE)?

CNA Financial (CNA) has a return on equity of 11.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is CNA Financial's free cash flow?

CNA Financial (CNA) generated $2.4B in free cash flow during fiscal year 2025. This represents a -2.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is CNA Financial's operating cash flow?

CNA Financial (CNA) generated $2.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are CNA Financial's total assets?

CNA Financial (CNA) had $69.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are CNA Financial's capital expenditures?

CNA Financial (CNA) invested $86.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does CNA Financial buy back shares?

Yes, CNA Financial (CNA) spent $34.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does CNA Financial have outstanding?

CNA Financial (CNA) had 271M shares outstanding as of fiscal year 2025.

What is CNA Financial's debt-to-equity ratio?

CNA Financial (CNA) had a debt-to-equity ratio of 0.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is CNA Financial's return on assets (ROA)?

CNA Financial (CNA) had a return on assets of 1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is CNA Financial's Piotroski F-Score?

CNA Financial (CNA) has a Piotroski F-Score of 7 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are CNA Financial's earnings high quality?

CNA Financial (CNA) has an earnings quality ratio of 1.95x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is CNA Financial?

CNA Financial (CNA) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its insurers peer group. The score is a 0-100 composite of six dimensions (Loss Ratio, Premium Growth, Capital, Investment Yield, Combined Ratio, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.