CNA

MKT CAP:$13B

CNA Financial Corporation

Market Cap

$13B

Financial Services·Insurance - Property & Casualty·🇺🇸 United States·NYSE

Financials·Insurance·🇺🇸·NYSE

Stock Price

$48.18+$1.31 (+2.79%)

Apr 24, 2026

Company Details

CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company offer...

CEO

Douglas Merle Worman

IPO Date

Feb 3, 1969

Website

www.cna.com

Key Metrics TTM

Revenue

$14.7B

+5.1% YoY

Net Income

$1.3B

EPS (Diluted)

$4.69

Free Cash Flow

$2.4B

Revenue / Share

$54.03

Gross Margin

30.7%

Operating Margin

11.0%

Net Margin

8.7%

FCF Margin

16.3%

P/S

0.9x

P/E

10.2x

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Feb 10, 2026

$14.7B+5.1%EPS $4.69

Q4 2025

Feb 10, 2026

$3.8B+4.0%EPS $1.11

Q3 2025

Nov 3, 2025

$3.7B+5.6%EPS $1.48

Q2 2025

Aug 4, 2025

$3.6B+5.5%EPS $1.10

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$2.9B	$1.0B	$355M
Q2 22	$2.9B	$945M	$227M
Q3 22	$3.0B	$729M	-$51M
Q4 22	$3.1B	$1.0B	$294M
Q1 23	$3.1B	$1.1B	$371M
Q2 23	$3.2B	$1.1B	$361M
Q3 23	$3.3B	$1.1B	$326M
Q4 23	$3.4B	$1.2B	$460M
Q1 24	$3.4B	$1.1B	$427M
Q2 24	$3.4B	$1.1B	$402M
Q3 24	$3.6B	$1.1B	$361M
Q4 24	$3.6B	$1.1B	$21M
Q1 25	$3.6B	$1.1B	$349M
Q2 25	$3.6B	$1.1B	$380M
Q3 25	$3.7B	$1.2B	$513M
Q4 25	$3.8B	$1.1B	$378M

Valuation

Quarter	P/S	P/E
Q1 22	1.1x	11.0x
Q2 22	1.1x	13.0x
Q3 22	1.1x	18.4x
Q4 22	1.1x	18.9x
Q1 23	1.1x	18.8x
Q2 23	1.0x	16.6x
Q3 23	1.0x	12.0x
Q4 23	1.0x	10.8x
Q1 24	1.0x	10.5x
Q2 24	1.0x	10.2x
Q3 24	0.9x	10.0x
Q4 24	0.9x	13.6x
Q1 25	0.9x	14.6x
Q2 25	0.9x	14.9x
Q3 25	0.9x	13.1x
Q4 25	0.9x	10.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$645M	$633M
Q2 22	$608M	$595M
Q3 22	$737M	$721M
Q4 22	$512M	$501M
Q1 23	$436M	$416M
Q2 23	$501M	$478M
Q3 23	$828M	$804M
Q4 23	$520M	$497M
Q1 24	$504M	$484M
Q2 24	$616M	$597M
Q3 24	$748M	$730M
Q4 24	$703M	$665M
Q1 25	$638M	$620M
Q2 25	$562M	$538M
Q3 25	$720M	$704M
Q4 25	$570M	$542M

Capital Expenditures

Quarter	CapEx
Q1 22	$12M
Q2 22	$13M
Q3 22	$16M
Q4 22	$11M
Q1 23	$20M
Q2 23	$23M
Q3 23	$24M
Q4 23	$23M
Q1 24	$20M
Q2 24	$19M
Q3 24	$18M
Q4 24	$38M
Q1 25	$18M
Q2 25	$24M
Q3 25	$16M
Q4 25	$28M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+1.6%	+2.7%
Q2 22	-3.6%	+4.9%
Q3 22	+4.1%	+18.9%
Q4 22	+5.6%	+7.7%
Q1 23	+9.1%	+9.7%
Q2 23	+11.3%	+7.2%
Q3 23	+10.6%	-2.0%
Q4 23	+10.6%	+5.8%
Q1 24	+8.4%	+7.5%
Q2 24	+6.0%	+5.4%
Q3 24	+7.3%	+7.0%
Q4 24	+5.0%	+20.5%
Q1 25	+5.3%	+8.7%
Q2 25	+5.5%	+7.0%
Q3 25	+5.6%	+1.4%
Q4 25	+4.0%	-5.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

Revenue Segments

Quarter	Commercial Segment	Corporate and Other	International Segment	Life and Group Non-Core Segment	Specialty Segment
Q1 22	$1.0B	$2M	$277M	$331M	$1.3B
Q2 22	$1.1B	$5M	$284M	$320M	$1.3B
Q3 22	$1.1B	$6M	$286M	$305M	$1.3B
Q4 22	$1.2B	$11M	$287M	$320M	$1.4B
Q1 23	$1.2B	$13M	$313M	$329M	$1.3B
Q2 23	$1.3B	$16M	$328M	$342M	$1.4B
Q3 23	$1.3B	$21M	$321M	$328M	$1.4B
Q4 23	$1.4B	$23M	$317M	$347M	$1.4B
Q1 24	$1.4B	$24M	$346M	$341M	$1.4B
Q2 24	$1.4B	—	$343M	$348M	$1.4B
Q3 24	$1.5B	—	$343M	$350M	$1.4B
Q1 25	$1.6B	—	$344M	$332M	$1.4B
Q2 25	$1.6B	—	$362M	$341M	$1.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$361M	$1.3B	$1.7B
Q2 22	$560M	$1.1B	$1.7B
Q3 22	$503M	$1.1B	$1.6B
Q4 22	$475M	$2.8B	$3.3B
Q1 23	$483M	$2.2B	$2.6B
Q2 23	$358M	$2.9B	$3.3B
Q3 23	$485M	$3.1B	$3.5B
Q4 23	$345M	$2.2B	$2.5B
Q1 24	$409M	$3.2B	$3.6B
Q2 24	$375M	$3.2B	$3.6B
Q3 24	$456M	$3.5B	$3.9B
Q4 24	$472M	$3.8B	$4.3B
Q1 25	$483M	$3.4B	$3.9B
Q2 25	$373M	$3.3B	$3.7B
Q3 25	$483M	$3.5B	$4.0B
Q4 25	$425M	$2.3B	$2.7B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	273M	0.0%	0.0%
Q2 22	273M	-0.1%	-0.1%
Q3 22	272M	-0.1%	-0.1%
Q4 22	272M	-0.1%	-0.3%
Q1 23	272M	+0.1%	-0.2%
Q2 23	272M	-0.1%	-0.2%
Q3 23	272M	+0.1%	0.0%
Q4 23	272M	-0.0%	+0.1%
Q1 24	273M	+0.2%	+0.1%
Q2 24	273M	-0.0%	+0.2%
Q3 24	273M	+0.0%	+0.1%
Q4 24	273M	+0.1%	+0.3%
Q1 25	273M	-0.1%	-0.0%
Q2 25	272M	-0.1%	-0.1%
Q3 25	272M	+0.0%	-0.1%
Q4 25	272M	0.0%	-0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$512.0K	6K
Q2 22	$521.4K	6K
Q3 22	$534.3K	6K
Q4 22	$510.2K	6K
Q1 23	$512.6K	6K
Q2 23	$532.6K	6K
Q3 23	$542.3K	6K
Q4 23	$546.2K	6K
Q1 24	$538.1K	6K
Q2 24	$546.8K	6K
Q3 24	$563.7K	6K
Q4 24	$555.8K	7K
Q1 25	$549.4K	7K
Q2 25	$559.4K	7K
Q3 25	$576.8K	7K
Q4 25	$569.2K	7K

Revenue / Employee