Cannae Holdings Financials
Cannae Holdings (CNNE) reported $423.6M in revenue for fiscal year 2025, down 6.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
FY2025 reflects a shrinking capital base where asset monetization and buybacks shaped results more than operating improvement.
From FY2023 to FY2025, operating cash drain narrowed from-$87.8M to-$18.1M . Because revenue still fell from$499.7M to$423.6M , that better cash profile points more to lower reinvestment and working-capital needs than to a healthier core operation.
FY2025’s net investing inflow of
Buybacks of
Financial Health Signals
Scored against operating companies 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 Cannae Holdings'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.
Cannae Holdings has an operating margin of -28.2%, meaning the company loses $28 on every $100 of revenue. This results in a profitability score of 35/100. This is down from -22.9% the prior year.
Cannae Holdings's revenue declined 6.4% year-over-year, from $452.5M to $423.6M. This contraction results in a growth score of 13/100.
Cannae Holdings carries a low D/E ratio of 0.06, meaning only $0.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 83/100, indicating a strong balance sheet with room for future borrowing.
Cannae Holdings's current ratio of 1.98 indicates adequate short-term liquidity, earning a score of 57/100. The company can meet its near-term obligations, though with limited headroom.
Cannae Holdings's operations used $18.1M of cash, and capex of $10.4M added to the outflow, for a free cash flow shortfall of $28.5M. This results in a cash flow score of 14/100.
Cannae Holdings posts a -51.9% return on equity (ROE), meaning it loses $52 for every $100 of shareholders' equity. This results in a returns score of 35/100. This is down from -16.6% the prior year.
Cannae Holdings scores 1.37, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($672.3M) relative to total liabilities ($329.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Cannae Holdings passes 5 of 9 financial strength tests. 1 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Cannae Holdings reported a net loss of $525.0M while operations used $18.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Cannae Holdings reported an operating loss of $119.6M against $11.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Cannae Holdings generated $423.6M in revenue in fiscal year 2025. This represents a decrease of 6.4% from the prior year.
Cannae Holdings's EBITDA was -$107.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.1% from the prior year.
Cannae Holdings reported -$525.0M in net income in fiscal year 2025. This represents a decrease of 72.4% from the prior year.
Cannae Holdings earned -$9.29 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 96.4% from the prior year.
Cash & Balance Sheet
Cannae Holdings recorded an outflow of $28.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 70.6% from the prior year.
Cannae Holdings held $182.0M in cash against $64.5M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Cannae Holdings's gross margin was 15.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.5 percentage points from the prior year.
Cannae Holdings's operating margin was -28.2% in fiscal year 2025, reflecting core business profitability. This is down 5.3 percentage points from the prior year.
Cannae Holdings's ROE was -51.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 35.3 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Cannae Holdings spent $319.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 38.2% from the prior year.
Cannae Holdings invested $10.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 48.6% from the prior year.
Not reported for fiscal year 2025.
CNNE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $408.6M | $423.6M-6.4% | $452.5M-9.4% | $499.7M-24.5% | $662.1M-10.8% | $742.2M-75.0% | $3.0B+105.4% | $1.4B+9.3% | $1.3B+13.2% | $1.2B-2.0% | $1.2B-16.6% | $1.4B |
| Cost of Revenue | $345.4M | $358.0M-3.6% | $371.2M-21.8% | $474.9M-16.9% | $571.4M | N/A | N/A | N/A | $991.3M0.0% | $991.0M+0.7% | $984.1M | N/A |
| Gross Profit | $63.2M | $65.6M-19.3% | $81.3M+227.8% | $24.8M-72.7% | $90.7M | N/A | N/A | N/A | $329.3M+87.3% | $175.8M-15.0% | $206.9M | N/A |
| SG&A Expenses | $47.5M | $73.8M-5.9% | $78.4M+50.5% | $52.1M-12.4% | $59.5M-25.7% | $80.1M | N/A | N/A | $170.3M+65.0% | $103.2M+51.1% | $68.3M-20.0% | $85.4M |
| Operating Income | -$116.2M | -$119.6M-15.3% | -$103.7M+12.8% | -$118.9M+17.8% | -$144.6M-8.3% | -$133.5M+29.2% | -$188.5M-60.3% | -$117.6M+19.3% | -$145.8M-88.1% | -$77.5M-3422.7% | -$2.2M+81.8% | -$12.1M |
| Interest Expense | $8.3M | $11.9M+2.6% | $11.6M-35.2% | $17.9M+45.5% | $12.3M+25.5% | $9.8M+8.9% | $9.0M-49.4% | $17.8M+278.7% | $4.7M-32.9% | $7.0M+34.6% | $5.2M-5.5% | $5.5M |
| Income Tax | $8.6M | $24.8M+651.5% | $3.3M+104.6% | -$71.5M+20.5% | -$89.9M-21.5% | -$74.0M-115.4% | $481.2M+1888.4% | $24.2M+61.3% | $15.0M+205.6% | -$14.2M-36.5% | -$10.4M+47.2% | -$19.7M |
| Net Income | -$167.8M | -$525.0M-72.4% | -$304.6M+2.8% | -$313.4M+26.8% | -$428.1M-49.2% | -$287.0M-116.1% | $1.8B+2210.7% | $77.3M+180.1% | $27.6M-74.6% | $108.8M+977.4% | -$12.4M+45.9% | -$22.9M |
| EPS (Diluted) | — | -$9.29-96.4% | -$4.73-10.8% | -$4.27+18.7% | -$5.25-64.6% | -$3.19-115.3% | $20.79+1843.0% | $1.07+174.4% | $0.39-74.7% | $1.54+955.6% | -$0.18+43.8% | -$0.32 |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CNNE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B-41.3% | $2.2B-17.0% | $2.7B-14.0% | $3.1B-19.6% | $3.9B-15.7% | $4.6B+120.5% | $2.1B+43.4% | $1.5B-1.9% | $1.5B+0.9% | $1.5B+0.3% | $1.5B |
| Current Assets | $256.5M+30.3% | $196.9M+11.1% | $177.3M-42.9% | $310.6M+155.4% | $121.6M-85.6% | $844.2M+33.8% | $630.9M+39.7% | $451.7M+29.0% | $350.2M+28.5% | $272.6M | N/A |
| Cash & Equivalents | $182.0M+38.4% | $131.5M+23.8% | $106.2M-57.1% | $247.7M+188.7% | $85.8M-88.2% | $724.7M+35.8% | $533.7M+69.1% | $315.7M+28.5% | $245.6M+67.8% | $146.4M | N/A |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | $16.3M-26.9% | $22.3M-24.9% | $29.7M+24.3% | $23.9M | N/A |
| Accounts Receivable | $7.6M-6.2% | $8.1M+6.6% | $7.6M+7.0% | $7.1M-59.9% | $17.7M+0.6% | $17.6M+10.0% | $16.0M-47.4% | $30.4M-15.1% | $35.8M+44.9% | $24.7M | N/A |
| Goodwill | $53.4M0.0% | $53.4M0.0% | $53.4M0.0% | $53.4M0.0% | $53.4M0.0% | $53.4M-19.2% | $66.1M-13.6% | $76.5M-25.9% | $103.2M+0.1% | $103.1M+0.4% | $102.7M |
| Total Liabilities | $329.8M-20.3% | $413.6M+9.6% | $377.5M-8.1% | $410.6M-25.1% | $548.5M-33.8% | $828.2M+47.3% | $562.4M+116.5% | $259.8M-22.2% | $334.1M-27.9% | $463.5M+12.2% | $413.0M |
| Current Liabilities | $129.7M-11.5% | $146.5M+36.3% | $107.5M-12.4% | $122.7M-31.6% | $179.5M-11.1% | $202.0M+1.7% | $198.7M+24.2% | $160.0M-35.9% | $249.8M+56.6% | $159.5M | N/A |
| Long-Term Debt | $64.5M-46.3% | $120.0M+17.1% | $102.5M+7.8% | $95.1M+574.5% | $14.1M-73.0% | $52.2M-56.5% | $120.1M+184.6% | $42.2M+232.3% | $12.7M-86.4% | $93.3M | N/A |
| Total Equity | $1.0B-44.9% | $1.8B-21.0% | $2.3B-14.5% | $2.7B-18.5% | $3.3B-11.8% | $3.8B+153.9% | $1.5B+32.4% | $1.1B+6.2% | $1.1B+18.6% | $893.5M-15.4% | $1.1B |
| Retained Earnings | $11.5M-98.0% | $567.1M-37.1% | $901.3M-25.8% | $1.2B-26.1% | $1.6B-14.9% | $1.9B+1243.9% | $143.6M+213.5% | $45.8M+22800.0% | $200K | $0 | N/A |
CNNE Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$32.0M | -$18.1M+79.9% | -$90.1M-2.6% | -$87.8M+57.2% | -$205.1M-16.5% | -$176.1M-54.6% | -$113.9M-35.3% | -$84.2M-267.7% | -$22.9M+74.8% | -$90.7M-250.4% | $60.3M+443.2% | $11.1M |
| Capital Expenditures | $11.4M | $10.4M+48.6% | $7.0M-30.0% | $10.0M-30.1% | $14.3M+4.4% | $13.7M-38.6% | $22.3M-21.2% | $28.3M+81.4% | $15.6M-60.0% | $39.0M-21.4% | $49.6M-10.5% | $55.4M |
| Free Cash Flow | -$43.4M | -$28.5M+70.6% | -$97.1M+0.7% | -$97.8M+55.4% | -$219.4M-15.6% | -$189.8M-39.4% | -$136.2M-21.1% | -$112.5M-192.2% | -$38.5M+70.3% | -$129.7M-1312.1% | $10.7M+124.2% | -$44.3M |
| Investing Cash Flow | $419.6M | $518.1M+73.7% | $298.3M+461.8% | $53.1M-89.8% | $521.2M+291.3% | -$272.4M-267.1% | -$74.2M-206.6% | -$24.2M-113.0% | $186.7M+103.6% | $91.7M+154.5% | -$168.2M-161.6% | $273.1M |
| Financing Cash Flow | -$382.3M | -$449.5M-145.8% | -$182.9M-71.3% | -$106.8M+30.7% | -$154.2M+19.0% | -$190.4M-150.2% | $379.1M+18.8% | $319.1M+469.3% | -$86.4M-188.0% | $98.2M+572.1% | -$20.8M+90.2% | -$212.5M |
| Dividends Paid | $28.6M | $30.5M+36.2% | $22.4M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $253.7M | $319.7M+38.2% | $231.4M+104.4% | $113.2M-50.7% | $229.5M+43.3% | $160.2M+1012.5% | $14.4M+193.9% | $4.9M | $0 | $0 | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
CNNE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.5%-2.5pp | 18.0%+13.0pp | 5.0%-8.7pp | 13.7% | N/A | N/A | N/A | 24.9%+9.9pp | 15.1%-2.3pp | 17.4% | N/A |
| Operating Margin | -28.2%-5.3pp | -22.9%+0.9pp | -23.8%-1.9pp | -21.8%-3.9pp | -18.0%-11.6pp | -6.4%+1.8pp | -8.2%+2.9pp | -11.0%-4.4pp | -6.6%-6.5pp | -0.2%+0.7pp | -0.9% |
| Net Margin | -123.9% | -67.3%-4.6pp | -62.7%+1.9pp | -64.7%-26.0pp | -38.7%-98.9pp | 60.2%+54.9pp | 5.4%+3.3pp | 2.1%-7.2pp | 9.3%+10.4pp | -1.0%+0.6pp | -1.6% |
| Return on Equity | -51.9%-35.3pp | -16.6%-3.1pp | -13.5%+2.3pp | -15.8%-7.2pp | -8.6%-55.9pp | 47.3%+42.1pp | 5.2%+2.7pp | 2.5%-7.8pp | 10.3%+11.7pp | -1.4%+0.8pp | -2.2% |
| Return on Assets | -40.1%-26.4pp | -13.7%-2.0pp | -11.7%+2.0pp | -13.7%-6.3pp | -7.4%-46.1pp | 38.7%+35.0pp | 3.7%+1.8pp | 1.9%-5.4pp | 7.3%+8.2pp | -0.8%+0.7pp | -1.6% |
| Current Ratio | 1.98+0.6x | 1.34-0.3x | 1.65-0.9x | 2.53+1.9x | 0.68-3.5x | 4.18+1.0x | 3.18+0.4x | 2.82+1.4x | 1.40-0.3x | 1.71 | N/A |
| Debt-to-Equity | 0.060.0x | 0.070.0x | 0.040.0x | 0.040.0x | 0.000.0x | 0.01-0.1x | 0.080.0x | 0.040.0x | 0.01-0.1x | 0.10-0.3x | 0.39 |
| FCF Margin | -6.7%+14.7pp | -21.5%-1.9pp | -19.6%+13.6pp | -33.1%-7.6pp | -25.6%-21.0pp | -4.6%+3.2pp | -7.8%-4.9pp | -2.9%+8.2pp | -11.1%-12.0pp | 0.9%+4.0pp | -3.1% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
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Where Cannae Holdings Ranks
Frequently Asked Questions
What is Cannae Holdings's annual revenue?
Cannae Holdings (CNNE) reported $423.6M in total revenue for fiscal year 2025. This represents a -6.4% 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 6.4% year-over-year, from $452.5M to $423.6M in fiscal year 2025.
Is Cannae Holdings profitable?
No, Cannae Holdings (CNNE) reported a net income of -$525.0M in fiscal year 2025.
What is Cannae Holdings's EBITDA?
Cannae Holdings (CNNE) had EBITDA of -$107.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cannae Holdings have?
As of fiscal year 2025, Cannae Holdings (CNNE) had $182.0M in cash and equivalents against $64.5M in long-term debt.
What is Cannae Holdings's gross margin?
Cannae Holdings (CNNE) had a gross margin of 15.5% in fiscal year 2025, 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 -28.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cannae Holdings's return on equity (ROE)?
Cannae Holdings (CNNE) has a return on equity of -51.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cannae Holdings's free cash flow?
Cannae Holdings (CNNE) recorded an outflow of $28.5M in free cash flow during fiscal year 2025. This represents a 70.6% 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) recorded an outflow of $18.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Cannae Holdings's total assets?
Cannae Holdings (CNNE) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cannae Holdings's capital expenditures?
Cannae Holdings (CNNE) invested $10.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Cannae Holdings's current ratio?
Cannae Holdings (CNNE) had a current ratio of 1.98 as of fiscal year 2025, which is generally considered healthy.
What is Cannae Holdings's debt-to-equity ratio?
Cannae Holdings (CNNE) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, 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 -40.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cannae Holdings's cash runway?
Based on fiscal year 2025 data, Cannae Holdings (CNNE) had $182.0M in cash against an annual operating cash burn of $18.1M. This gives an estimated cash runway of approximately 121 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 Altman Z-Score?
Cannae Holdings (CNNE) has an Altman Z-Score of 1.37, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cannae Holdings's Piotroski F-Score?
Cannae Holdings (CNNE) has a Piotroski F-Score of 5 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 to 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) reported a net loss of $525.0M while operations used $18.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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) reported an operating loss of $119.6M against $11.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 40 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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.