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CNA Financial Financials

CNA
Trailing 12 months to June 30, 2026
Revenue $15.2B +3.4% YoY
Net Income $1.2B +41.0% YoY
EPS (Diluted) $4.55 +41.3% YoY
Free Cash Flow $2.3B -11.7% YoY
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

CNA Financial (CNA) reported $15.2B in revenue over the twelve months to Jun 30, 2026, up 3.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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

CNA’s cash conversion is stronger than accounting returns, while a liability-led balance sheet defines its financial structure.

FY2025 operating cash flow was $2.49B against net income of $1.28B, so cash generation materially exceeded accounting profit. Yet free cash flow slipped from $2.48B in FY2024 to $2.40B in FY2025 even as profit rebounded, pointing to weaker cash conversion at the margin.

The liability-heavy structure held $57.8B of liabilities against $11.6B of equity in FY2025. Long-term debt was $3.0B with debt-to-equity of 0.3x, indicating that the broader liability base—not borrowing—is the dominant financing feature.

The earnings pattern is cyclical: net margin recovered from 6.7% in FY2024 to 8.5% in FY2025, but the rebound was not a straight-line trend. Dividends of $1.05B remained below free cash flow of $2.40B, showing distributions were supported by reported cash generation.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Loss Ratio PremiumGrowth Capital Investment Yield CombinedRatio Stability 35 / 100
Financial Health Score 35/100
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
19
Premium Growth
46
Capital
28
Investment Yield
0

Not available for CNA Financial, and counted as zero in the overall score.

Combined Ratio
28
Stability
87
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.

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.

EBITDA

Not reported for fiscal year 2025.

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 CAGR0.0%

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

Margins & Returns

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.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

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.

R&D Spending

Not reported for fiscal year 2025.

CNA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CNA quarterly income statement
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Revenue$3.8B+4.1%$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
Interest Expense$33.0M0.0%$33.0M-8.3%$36.0M0.0%$36.0M+16.1%$31.0M-3.1%$32.0M0.0%$32.0M0.0%$32.0M
Income Tax$84.0M+50.0%$56.0M-26.3%$76.0M-30.9%$110.0M+35.8%$81.0M+8.0%$75.0M$0-100.0%$78.0M
Net Income$321.0M+52.1%$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
EPS (Diluted)$1.18+51.3%$0.78-29.7%$1.11-25.0%$1.48+34.5%$1.10+10.0%$1.00+1150.0%$0.08-92.3%$1.04

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income.

CNA Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CNA quarterly balance sheet
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Total Assets$69.9B+1.9%$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
Cash & Equivalents$339.0M-35.1%$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
Goodwill$147.0M0.0%$147.0M-0.7%$148.0M0.0%$148.0M0.0%$148.0M+1.4%$146.0M+0.7%$145.0M-1.4%$147.0M
Total Liabilities$58.7B+1.7%$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
Long-Term Debt$3.0B0.0%$3.0B0.0%$3.0B0.0%$3.0B+20.0%$2.5B0.0%$2.5B-16.8%$3.0B0.0%$3.0B
Total Equity$11.2B+3.0%$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
Retained Earnings$9.6B+2.0%$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

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities.

CNA Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CNA quarterly cash flow statement
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Operating Cash Flow$649.0M+65.1%$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
Capital Expenditures$20.0M+53.8%$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
Free Cash Flow$629.0M+65.5%$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
Investing Cash Flow-$699.0M-257.4%$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
Financing Cash Flow-$131.0M+82.2%-$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
Dividends Paid$130.0M-80.9%$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
Share Buybacks$0-100.0%$36.0M$0$0$0-100.0%$34.0M$0$0

CNA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

CNA quarterly financial ratios
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Net Margin8.4%+2.6pp5.7%-2.1pp7.9%-2.7pp10.6%+2.5pp8.0%+0.5pp7.5%+7.0pp0.6%-7.3pp7.8%
Return on Equity2.9%+0.9pp1.9%-0.7pp2.6%-1.0pp3.6%+0.8pp2.8%+0.1pp2.7%+2.5pp0.2%-2.4pp2.6%
Return on Assets0.5%+0.1pp0.3%-0.1pp0.4%-0.1pp0.6%+0.1pp0.4%0.0pp0.4%+0.4pp0.0%-0.4pp0.4%
Debt-to-Equity0.270.0x0.270.0x0.260.0x0.260.0x0.230.0x0.240.0x0.280.0x0.28
FCF Margin16.4%+6.1pp10.3%-3.8pp14.2%-4.3pp18.4%+4.0pp14.5%-2.6pp17.1%-0.9pp18.0%-2.2pp20.2%

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

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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 5.0% 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%.

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.

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

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.

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

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.

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.

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

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

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

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

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

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.

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.

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.

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.

CNA Financial (CNA) scores 35 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.

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