Cannae Holdings Financials
This page shows Cannae Holdings (CNNE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Cannae Holdings has an operating margin of -22.9%, meaning the company retains $-23 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -23.8% the prior year.
Cannae Holdings's revenue declined 9.4% year-over-year, from $499.7M to $452.5M. This contraction results in a growth score of 2/100.
Cannae Holdings carries a low D/E ratio of 0.07, meaning only $0.07 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Cannae Holdings's current ratio of 1.34 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.
While Cannae Holdings generated -$90.1M in operating cash flow, capex of $7.0M consumed most of it, leaving -$97.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Cannae Holdings passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Cannae Holdings generates $0.30 in operating cash flow (-$90.1M OCF vs -$304.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Cannae Holdings earns $-8.9 in operating income for every $1 of interest expense (-$103.7M vs $11.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Cannae Holdings generated $452.5M in revenue in fiscal year 2024. This represents a decrease of 9.4% from the prior year.
Cannae Holdings's EBITDA was -$90.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.5% from the prior year.
Cannae Holdings generated -$97.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 0.7% from the prior year.
Cannae Holdings reported -$304.6M in net income in fiscal year 2024. This represents an increase of 2.8% from the prior year.
Cannae Holdings earned $-4.73 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 10.8% from the prior year.
Cannae Holdings held $131.5M in cash against $120.0M in long-term debt as of fiscal year 2024.
Cannae Holdings had 63M shares outstanding in fiscal year 2024. This represents a decrease of 10.8% from the prior year.
Cannae Holdings's gross margin was 18.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 13.0 percentage points from the prior year.
Cannae Holdings's operating margin was -22.9% in fiscal year 2024, reflecting core business profitability. This is up 0.9 percentage points from the prior year.
Cannae Holdings's net profit margin was -67.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 4.6 percentage points from the prior year.
Cannae Holdings spent $231.4M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 104.4% from the prior year.
Cannae Holdings invested $7.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 30.0% from the prior year.
CNNE Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $106.9M-3.0% | $110.2M+6.8% | $103.2M+11.9% | $92.2M-21.9% | $118.0M+13.2% | $104.2M+1866.1% | -$5.9M-104.1% | $143.6M |
| Cost of Revenue | $88.6M-2.4% | $90.8M-0.2% | $91.0M-1.0% | $91.9M-0.2% | $92.1M-2.2% | $94.2M-4.9% | $99.1M-14.5% | $115.9M |
| Gross Profit | $18.3M-5.7% | $19.4M+59.0% | $12.2M+3966.7% | $300K-98.8% | $25.9M+159.0% | $10.0M+109.5% | -$105.0M-479.1% | $27.7M |
| 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 | -$13.2M+78.3% | -$60.9M-184.6% | -$21.4M+2.7% | -$22.0M+4.3% | -$23.0M+43.3% | -$40.6M-64.4% | -$24.7M+52.4% | -$51.9M |
| Interest Expense | $3.3M0.0% | $3.3M-13.2% | $3.8M-7.3% | $4.1M+105.0% | $2.0M-23.1% | $2.6M-29.7% | $3.7M-36.2% | $5.8M |
| Income Tax | -$3.8M-111.1% | -$1.8M-108.9% | $20.2M+238.4% | -$14.6M+59.3% | -$35.9M-163.5% | $56.5M+426.6% | -$17.3M+57.3% | -$40.5M |
| Net Income | -$68.4M+71.4% | -$238.8M-111.3% | -$113.0M-145.1% | -$46.1M+70.3% | -$155.0M-72.4% | -$89.9M-38.7% | -$64.8M+58.8% | -$157.3M |
| EPS (Diluted) | $-1.25+68.2% | $-3.93-117.1% | $-1.81-141.3% | $-0.75+69.9% | $-2.49-96.1% | $-1.27-44.3% | $-0.88+59.6% | $-2.18 |
CNNE Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B-15.2% | $1.8B-14.8% | $2.1B-5.9% | $2.2B+0.2% | $2.2B-14.8% | $2.6B-2.9% | $2.7B-3.0% | $2.8B |
| Current Assets | $265.1M-57.5% | $623.5M-19.4% | $773.5M+292.8% | $196.9M+95.5% | $100.7M-70.0% | $335.6M+89.3% | $177.3M+40.4% | $126.3M |
| Cash & Equivalents | $233.8M+250.5% | $66.7M-47.1% | $126.2M-4.0% | $131.5M+187.7% | $45.7M-80.8% | $238.3M+124.4% | $106.2M+82.8% | $58.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $5.9M+9.3% | $5.4M+1.9% | $5.3M-34.6% | $8.1M+44.6% | $5.6M+7.7% | $5.2M-31.6% | $7.6M+76.7% | $4.3M |
| Goodwill | $53.4M0.0% | $53.4M0.0% | $53.4M0.0% | $53.4M0.0% | $53.4M0.0% | $53.4M0.0% | $53.4M0.0% | $53.4M |
| Total Liabilities | $331.6M-22.7% | $429.1M+7.4% | $399.7M-3.4% | $413.6M+21.5% | $340.5M-1.2% | $344.7M-8.7% | $377.5M-6.3% | $402.8M |
| Current Liabilities | $130.6M-41.8% | $224.5M+21.6% | $184.6M+26.0% | $146.5M+47.5% | $99.3M-1.9% | $101.2M-5.9% | $107.5M-9.2% | $118.4M |
| Long-Term Debt | $61.7M0.0% | $61.7M-10.1% | $68.6M-42.8% | $120.0M+54.4% | $77.7M+0.4% | $77.4M-24.5% | $102.5M+3.0% | $99.5M |
| Total Equity | $1.2B-12.4% | $1.4B-19.7% | $1.7B-6.3% | $1.8B-3.4% | $1.9B-16.7% | $2.3B-1.8% | $2.3B-2.7% | $2.4B |
| Retained Earnings | $123.5M-38.3% | $200.1M-55.2% | $446.5M-21.3% | $567.1M-11.7% | $642.0M-20.2% | $804.6M-10.7% | $901.3M-6.7% | $966.1M |
CNNE Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$21.6M0.0% | -$21.6M-337.4% | $9.1M+175.8% | -$12.0M-17.6% | -$10.2M+71.7% | -$36.0M-8.1% | -$33.3M-67.3% | -$19.9M |
| Capital Expenditures | $2.5M+25.0% | $2.0M+5.3% | $1.9M-20.8% | $2.4M+50.0% | $1.6M+23.1% | $1.3M-56.7% | $3.0M+30.4% | $2.3M |
| Free Cash Flow | -$24.1M-2.1% | -$23.6M-427.8% | $7.2M+150.0% | -$14.4M-22.0% | -$11.8M+68.4% | -$37.3M-2.8% | -$36.3M-63.5% | -$22.2M |
| Investing Cash Flow | $416.3M+392.7% | $84.5M+1307.1% | -$7.0M+20.5% | -$8.8M-115.2% | $58.0M-70.2% | $194.5M+124.3% | $86.7M+398.3% | $17.4M |
| Financing Cash Flow | -$227.6M-85.9% | -$122.4M-1554.1% | -$7.4M+11.9% | -$8.4M+96.5% | -$240.4M-810.6% | -$26.4M-398.1% | -$5.3M+89.8% | -$52.1M |
| Dividends Paid | $8.0M+2.6% | $7.8M+2.6% | $7.6M+1.3% | $7.5M0.0% | $7.5M | $0 | $0 | $0 |
| Share Buybacks | $119.7M | N/A | N/A | $200K-99.9% | $231.4M | $0-100.0% | $7.1M-86.1% | $51.0M |
CNNE Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.1%-0.5pp | 17.6%+5.8pp | 11.8%+11.5pp | 0.3%-21.6pp | 21.9%+12.3pp | 9.6% | N/A | 19.3% |
| Operating Margin | -12.3%+42.9pp | -55.3%-34.5pp | -20.7%+3.1pp | -23.9%-4.4pp | -19.5%+19.5pp | -39.0% | N/A | -36.1% |
| Net Margin | -64.0%+152.7pp | -216.7%-107.2pp | -109.5%-59.5pp | -50.0%+81.4pp | -131.4%-45.1pp | -86.3% | N/A | -109.5% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -4.5%+8.9pp | -13.4%-8.0pp | -5.4%-3.3pp | -2.1%+4.9pp | -7.0%-3.5pp | -3.4%-1.0pp | -2.4%+3.3pp | -5.7% |
| Current Ratio | 2.03-0.7 | 2.78-1.4 | 4.19+2.8 | 1.34+0.3 | 1.01-2.3 | 3.32+1.7 | 1.65+0.6 | 1.07 |
| Debt-to-Equity | 0.050.0 | 0.040.0 | 0.04-0.0 | 0.07+0.0 | 0.040.0 | 0.03-0.0 | 0.040.0 | 0.04 |
| FCF Margin | -22.5%-1.1pp | -21.4%-28.4pp | 7.0%+22.6pp | -15.6%-5.6pp | -10.0%+25.8pp | -35.8% | N/A | -15.5% |
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Frequently Asked Questions
What is Cannae Holdings's annual revenue?
Cannae Holdings (CNNE) reported $452.5M in total revenue for fiscal year 2024. This represents a -9.4% 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 Cannae Holdings's revenue growing?
Cannae Holdings (CNNE) revenue declined by 9.4% year-over-year, from $499.7M to $452.5M in fiscal year 2024.
Is Cannae Holdings profitable?
No, Cannae Holdings (CNNE) reported a net income of -$304.6M in fiscal year 2024, with a net profit margin of -67.3%.
What is Cannae Holdings's earnings per share (EPS)?
Cannae Holdings (CNNE) reported diluted earnings per share of $-4.73 for fiscal year 2024. This represents a -10.8% 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.
What is Cannae Holdings's EBITDA?
Cannae Holdings (CNNE) had EBITDA of -$90.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cannae Holdings have?
As of fiscal year 2024, Cannae Holdings (CNNE) had $131.5M in cash and equivalents against $120.0M in long-term debt.
What is Cannae Holdings's gross margin?
Cannae Holdings (CNNE) had a gross margin of 18.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cannae Holdings's operating margin?
Cannae Holdings (CNNE) had an operating margin of -22.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Cannae Holdings's net profit margin?
Cannae Holdings (CNNE) had a net profit margin of -67.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Cannae Holdings's free cash flow?
Cannae Holdings (CNNE) generated -$97.1M in free cash flow during fiscal year 2024. This represents a 0.7% 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 Cannae Holdings's operating cash flow?
Cannae Holdings (CNNE) generated -$90.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Cannae Holdings's total assets?
Cannae Holdings (CNNE) had $2.2B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Cannae Holdings's capital expenditures?
Cannae Holdings (CNNE) invested $7.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Cannae Holdings buy back shares?
Yes, Cannae Holdings (CNNE) spent $231.4M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Cannae Holdings have outstanding?
Cannae Holdings (CNNE) had 63M shares outstanding as of fiscal year 2024.
What is Cannae Holdings's current ratio?
Cannae Holdings (CNNE) had a current ratio of 1.34 as of fiscal year 2024, which is considered adequate.
What is Cannae Holdings's debt-to-equity ratio?
Cannae Holdings (CNNE) had a debt-to-equity ratio of 0.07 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cannae Holdings's return on assets (ROA)?
Cannae Holdings (CNNE) had a return on assets of -13.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Cannae Holdings's cash runway?
Based on fiscal year 2024 data, Cannae Holdings (CNNE) had $131.5M in cash against an annual operating cash burn of $90.1M. This gives an estimated cash runway of approximately 18 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Cannae Holdings's Piotroski F-Score?
Cannae Holdings (CNNE) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cannae Holdings's earnings high quality?
Cannae Holdings (CNNE) has an earnings quality ratio of 0.30x, considered low quality (accrual-driven). 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.
Can Cannae Holdings cover its interest payments?
Cannae Holdings (CNNE) has an interest coverage ratio of -8.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Cannae Holdings?
Cannae Holdings (CNNE) scores 27 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.