CNA FY 2021 Earnings Report — CNA Financial Corporation Revenue & Financial Results | Market Cap Arena

CNA Financial CorporationCNA

FY 2021 Earnings

Reported February 8, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$11.5B	—	$10.7B	—	8.0%
Op. Income	$1.5B	—	$821M	—	78.1%
Gross Margin	32.3%	—	29.1%	—	3.3pp
Net Margin	10.3%	—	6.5%	—	3.8pp
EPS (Diluted)	$4.41	—	$2.53	—	74.3%
Free Cash Flow	$2.0B	—	$1.8B	—	12.5%

Revenue Flow

Item	Amount
REVENUE	$11.5B
Cost of Revenue	$7.8B
GROSS PROFIT	$3.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$2.3B
Operating Expenses	$2.3B
Cost & Expenses	$10.1B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$113M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$278M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$54M
EBIT	$1.6B
EBITDA	$1.6B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$11.5B
Cost of Revenue	$7.8B
GROSS PROFIT	$3.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$2.3B
Operating Expenses	$2.3B
Cost & Expenses	$10.1B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$113M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$278M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$54M
EBIT	$1.6B
EBITDA	$1.6B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$54M
Stock-Based Compensation	$0
Deferred Income Tax	$43M
Other Non-Cash Items	-$384M
Change in Working Capital	$1.1B
OPERATING CASH FLOW	$2.0B
Capital Expenditure	-$26M
Acquisitions (Net)	-$194M
Purchases of Investments	-$9.7B
Sales/Maturities of Investments	$8.6B
Other Investing Activities	$96M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$0
Common Stock Repurchased	-$18M
Common Dividends Paid	-$621M
Other Financing Activities	-$9M
NET CASH FROM FINANCING	-$648M
FREE CASH FLOW	$2.0B
Net Change in Cash	$117M

Balance Sheet

Item	Amount
Cash & Equivalents	$475M
Short-Term Investments	$1.8B
Net Receivables	$8.4B
Inventory	-$7.5B
Other Current Assets	$7.6B
TOTAL CURRENT ASSETS	$10.9B
PP&E (Net)	$226M
Goodwill	$144M
Intangible Assets	$71M
Long-Term Investments	$42.1B
Tax Assets	$1.2B
Other Non-Current Assets	-$1.2B
TOTAL NON-CURRENT ASSETS	$42.5B
TOTAL ASSETS	$48.5B
Account Payables	$0
Short-Term Debt	$42M
Deferred Revenue	$4.5B
Other Current Liabilities	-$4.4B
TOTAL CURRENT LIABILITIES	$243M
Long-Term Debt	$2.8B
Deferred Revenue NC	$4.5B
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$46.5B
TOTAL NON-CURRENT LIABILITIES	$53.8B
TOTAL LIABILITIES	$52.1B
Common Stock	$683M
Additional Paid-In Capital	$2.2B
Retained Earnings	$9.7B
Treasury Stock	-$72M
Accum. Other Comp. Income	$320M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$12.8B
Minority Interest	$0
TOTAL EQUITY	$12.8B
TOTAL LIABILITIES & EQUITY	$48.5B
Total Debt	$2.8B
Net Debt	$2.3B