Cannae Holdings, Inc. (CNNE) Balance Sheet
CNNE balance sheet, 2025
December 31, 2025 · U.S. dollars$1.32B assets = $329.8M liabilities + $990.9M equity
Both columns are drawn to the same scale: what CNNE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CNNE financial health
Current ratio2.07
Comfortable · current assets cover current liabilities 2.07×
Debt / equity0.32
Low leverage · $0.32 of debt for each $1 of equity
Equity / assets77.5%
Equity-funded · of assets funded by shareholders
Cash / debt54.9%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles5.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
CNNE balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.47B2016 | $1.32B2025 | −1.2%/yr | |
| Total liabilities | $463.5M2016 | $329.8M2025 | −3.7%/yr | |
| Shareholders’ equity | $893.5M2016 | $1.02B2025 | +1.5%/yr | |
| Cash & short-term investments | $193.5M2016 | $182.0M2025 | −0.7%/yr | |
| Total debt | $134.7M2016 | $331.8M2025 | +10.5%/yr | |
| Net cash (debt) | $58.8M2016 | −$149.8M2025 | −$208.6M | |
| Working capital | $113.1M2016 | $138.6M2025 | +$25.5M | |
| Book value per share | $12.612016 | $18.122025 | +4.1%/yr | |
| Current ratio | 1.712016 | 2.072025 | +0.36 | |
| Debt / equity | 0.152016 | 0.322025 | +0.17 | |
| Shares outstanding | 70.9M2016 | 56.5M2025 | −2.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CNNE assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
CNNE liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
CNNE debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CNNE balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $182.0M | $137.7M | $121.8M | $282.6M | $85.8M | $759.9M | $533.7M | $347.1M | $263.3M | $193.5M |
| Cash & equivalents | $182.0M | $131.5M | $106.2M | $247.7M | $85.8M | $724.7M | $533.7M | $315.7M | $245.6M | $141.7M |
| Short-term investments | $0 | $6.2M | $15.6M | $34.9M | $10.1M | $35.2M | $500,000 | $31.4M | $17.7M | $51.8M |
| Receivables | $60.6M | $35.7M | $26.0M | $1.9M | $17.7M | $17.6M | $16.0M | $30.4M | $35.8M | $24.7M |
| Inventory | $0 | $0 | $0 | $0 | −$10.1M | −$17.6M | $16.3M | $22.3M | $29.7M | $23.9M |
| Other current assets | $25.7M | $23.5M | $29.5M | $26.1M | $28.2M | $84.3M | $64.9M | $51.9M | $21.4M | $30.5M |
| Total current assets | $268.3M | $196.9M | $177.3M | $310.6M | $121.6M | $844.2M | $630.9M | $451.7M | $350.2M | $272.6M |
| Property, plant & equipment (net) | $165.9M | $197.8M | $202.2M | $243.5M | $272.6M | $348.1M | $355.5M | $176.4M | $218.8M | $235.0M |
| Goodwill & intangible assets | $66.6M | $68.5M | $70.2M | $76.9M | $80.3M | $105.2M | $129.2M | $340.7M | $417.2M | $214.9M |
| Long-term investments | $792.2M | $1.51B | $2.01B | $2.09B | $2.37B | $1.52B | $922.1M | $473.9M | $490.4M | $475.8M |
| Other non-current assets | $27.7M | $252.7M | $227.3M | $407.6M | $1.05B | $1.80B | $54.5M | $17.5M | $10.6M | $275.0M |
| Total assets | $1.32B | $2.23B | $2.69B | $3.13B | $3.89B | $4.61B | $2.09B | $1.46B | $1.49B | $1.47B |
| Liabilities | ||||||||||
| Accounts payable | $91.9M | $16.6M | $27.0M | $25.8M | $22.7M | $25.7M | $19.6M | $23.0M | $20.3M | $24.7M |
| Short-term debt | $21.7M | $75.5M | $16.4M | $25.1M | $26.1M | $37.5M | $48.5M | $5.9M | $122.2M | $11.4M |
| Deferred revenue | $16.1M | $16.2M | $16.9M | $18.6M | $23.1M | $23.9M | $26.4M | $25.8M | $26.1M | $24.7M |
| Total current liabilities | $129.7M | $146.5M | $107.5M | $122.7M | $179.5M | $202.0M | $198.7M | $160.3M | $249.8M | $159.5M |
| Long-term debt | $64.5M | $120.0M | $102.5M | $95.1M | $14.1M | $52.2M | $120.1M | $42.2M | $12.7M | $93.3M |
| Lease obligations | $138.2M | $149.5M | $169.2M | $173.8M | $219.4M | $251.2M | $268.7M | $20.9M | $25.6M | $30.0M |
| Other long-term liabilities | $135.6M | $147.1M | $167.5M | $192.8M | $354.9M | $574.0M | $243.6M | $57.7M | $71.6M | $210.7M |
| Total liabilities | $329.8M | $413.6M | $377.5M | $410.6M | $548.5M | $828.2M | $562.4M | $260.2M | $334.1M | $463.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | — | $1.13B | $961.6M |
| Retained earnings (deficit) | $23.3M | $567.1M | $901.3M | $1.21B | $1.64B | $1.93B | $143.6M | $46.1M | $200,000 | — |
| Treasury stock | — | — | — | −$414.0M | −$188.6M | −$21.1M | −$5.9M | −$200,000 | $0 | −$172.0M |
| Accumulated other comprehensive income | $6.5M | −$19.2M | −$19.9M | −$18.1M | −$7.2M | −$4.9M | −$45.9M | −$67.2M | −$71.0M | −$68.1M |
| Minority interest | −$32.9M | −$21.2M | −$15.3M | −$3.9M | $5.8M | $5.6M | — | $75.1M | $93.7M | — |
| Total shareholders' equity | $1.02B | $1.84B | $2.32B | $2.72B | $3.34B | $3.78B | $1.49B | $1.12B | $1.06B | $893.5M |
| Key figures | ||||||||||
| Total debt | $331.8M | $330.5M | $274.2M | $300.0M | $235.8M | $285.3M | $368.3M | $48.1M | $134.9M | $134.7M |
| Net cash (debt) | −$149.8M | −$192.8M | −$152.4M | −$17.4M | −$150.0M | $474.6M | $165.4M | $299.0M | $128.4M | $58.8M |
| Working capital | $138.6M | $50.4M | $69.8M | $187.9M | −$57.9M | $642.2M | $432.2M | $291.4M | $100.4M | $113.1M |
| Tangible book value | $957.2M | $1.77B | $2.25B | $2.64B | $3.25B | $3.67B | $1.36B | $784.2M | $642.2M | $678.6M |
| Book value per share | $18.12 | $28.52 | $31.67 | $33.32 | $37.02 | $44.00 | $20.56 | $15.78 | $15.01 | $12.61 |
| Shares outstanding | 56.5M | 64.4M | 73.4M | 81.6M | 90.1M | 85.9M | 72.4M | 71.3M | 70.6M | 70.9M |
| Current ratio | 2.07 | 1.34 | 1.65 | 2.53 | 0.68 | 4.18 | 3.18 | 2.82 | 1.40 | 1.71 |
| Quick ratio | 1.87 | 1.18 | 1.37 | 2.32 | 0.58 | 3.85 | 2.77 | 2.35 | 1.20 | 1.37 |
| Debt / equity | 0.32 | 0.18 | 0.12 | 0.11 | 0.07 | 0.08 | 0.25 | 0.04 | 0.13 | 0.15 |
| Equity / assets | 77.5% | 82.4% | 86.5% | 87.0% | 85.7% | 81.9% | 71.1% | 77.0% | 71.2% | 60.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $70.4M | $135.7M | $182.0M | $233.8M | $66.7M | $126.2M | $137.7M | $169.6M | $54.6M | $284.1M | $121.8M | $76.6M |
| Cash & equivalents | $70.4M | $135.7M | $182.0M | $233.8M | $66.7M | $126.2M | $131.5M | $160.7M | $45.7M | $238.3M | $106.2M | $58.1M |
| Short-term investments | — | — | $0 | $0 | $0 | $6.2M | $6.2M | $8.9M | $8.9M | $45.8M | $15.6M | $18.5M |
| Receivables | $47.2M | $54.4M | $60.6M | $12.8M | $10.9M | $10.5M | $35.7M | $32.0M | $30.9M | $30.5M | $26.0M | $8.8M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $73.5M | $18.6M | $25.7M | $18.5M | $545.9M | $636.8M | $23.5M | $13.2M | $15.2M | $21.0M | $29.5M | $40.9M |
| Total current assets | $191.1M | $208.7M | $268.3M | $265.1M | $623.5M | $773.5M | $196.9M | $214.8M | $100.7M | $335.6M | $177.3M | $126.3M |
| Property, plant & equipment (net) | $138.2M | $153.2M | $165.9M | $180.8M | $184.7M | $188.5M | $197.8M | $200.8M | $204.1M | $198.5M | $202.2M | $186.1M |
| Goodwill & intangible assets | $32.6M | $66.1M | $66.6M | $67.0M | $67.5M | $68.0M | $68.5M | $68.8M | $69.3M | $69.7M | $70.2M | $75.0M |
| Long-term investments | $888.4M | $783.9M | $792.2M | $782.1M | $669.1M | $832.1M | $1.51B | $1.58B | $1.65B | $1.83B | $2.01B | $2.30B |
| Other non-current assets | $8.1M | $27.7M | $27.7M | $219.3M | $241.0M | $234.3M | $252.7M | $216.8M | $204.5M | $175.0M | $227.3M | $84.5M |
| Total assets | $1.26B | $1.24B | $1.32B | $1.51B | $1.79B | $2.10B | $2.23B | $2.29B | $2.22B | $2.61B | $2.69B | $2.77B |
| Liabilities | ||||||||||||
| Accounts payable | $87.7M | $86.5M | $91.9M | $96.8M | $89.4M | $53.5M | $16.6M | $55.8M | $70.4M | $70.1M | $27.0M | $88.0M |
| Short-term debt | $15.5M | $21.4M | $21.7M | $22.1M | $121.7M | $116.8M | $75.5M | $16.2M | $14.6M | $15.8M | $16.4M | $18.9M |
| Deferred revenue | $19.5M | $14.5M | $16.1M | $11.7M | $13.4M | $14.3M | $16.2M | $12.2M | $14.3M | $15.3M | $16.9M | $11.5M |
| Total current liabilities | $153.6M | $122.4M | $129.7M | $130.6M | $224.5M | $184.6M | $146.5M | $84.2M | $99.3M | $101.2M | $107.5M | $118.4M |
| Long-term debt | $64.5M | $64.5M | $64.5M | $61.7M | $61.7M | $68.6M | $120.0M | $179.3M | $77.7M | $77.4M | $102.5M | $99.5M |
| Lease obligations | $129.8M | $133.6M | $138.2M | $141.5M | $144.5M | $147.9M | $149.5M | $149.0M | $151.2M | $153.6M | $169.2M | $160.7M |
| Other long-term liabilities | $128.4M | $130.3M | $135.6M | $139.3M | $142.9M | $146.5M | $147.1M | $159.9M | $163.5M | $166.1M | $167.5M | $184.9M |
| Total liabilities | $346.5M | $317.2M | $329.8M | $331.6M | $429.1M | $399.7M | $413.6M | $423.4M | $340.5M | $344.7M | $377.5M | $402.8M |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | $3.4M | −$27.5M | $23.3M | $123.5M | $200.1M | $446.5M | $567.1M | $620.8M | $642.0M | $804.6M | $901.3M | $966.1M |
| Accumulated other comprehensive income | — | $6.0M | $6.5M | $8.8M | −$15.5M | −$21.3M | −$19.2M | −$17.2M | −$17.6M | −$16.5M | −$19.9M | −$16.4M |
| Minority interest | −$45.7M | −$36.5M | −$32.9M | −$27.2M | −$24.7M | — | — | — | — | — | — | — |
| Total shareholders' equity | $957.6M | $958.9M | $1.02B | $1.21B | $1.38B | $1.72B | $1.84B | $1.88B | $1.90B | $2.28B | $2.32B | $2.39B |
| Key figures | ||||||||||||
| Total debt | $194.3M | $203.9M | $331.8M | $210.1M | $312.9M | $318.5M | $330.5M | $330.2M | $229.4M | $232.9M | $274.2M | $263.3M |
| Net cash (debt) | −$123.9M | −$68.2M | −$149.8M | $23.7M | −$246.2M | −$192.3M | −$192.8M | −$160.6M | −$174.8M | $51.2M | −$152.4M | −$186.7M |
| Working capital | $37.5M | $86.3M | $138.6M | $134.5M | $399.0M | $588.9M | $50.4M | $130.6M | $1.4M | $234.4M | $69.8M | $7.9M |
| Tangible book value | $925.0M | $892.8M | $957.2M | $1.14B | $1.31B | $1.65B | $1.77B | $1.82B | $1.83B | $2.21B | $2.25B | $2.31B |
| Book value per share | $21.96 | $20.89 | $21.24 | $22.12 | $22.72 | $27.61 | $29.53 | $30.19 | $30.56 | $32.24 | $33.16 | $33.13 |
| Shares outstanding | 43.6M | 45.9M | 48.2M | 54.7M | 60.8M | 62.3M | 62.2M | 62.4M | 62.2M | 70.8M | 70.1M | 72.1M |
| Current ratio | 1.24 | 1.71 | 2.07 | 2.03 | 2.78 | 4.19 | 1.34 | 2.55 | 1.01 | 3.32 | 1.65 | 1.07 |
| Quick ratio | 0.77 | 1.55 | 1.87 | 1.89 | 0.35 | 0.74 | 1.18 | 2.39 | 0.86 | 3.11 | 1.37 | 0.72 |
| Debt / equity | 0.20 | 0.21 | 0.32 | 0.17 | 0.23 | 0.19 | 0.18 | 0.18 | 0.12 | 0.10 | 0.12 | 0.11 |
| Equity / assets | 76.1% | 77.4% | 77.5% | 79.9% | 77.4% | 82.0% | 82.4% | 82.4% | 85.5% | 87.5% | 86.5% | 86.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 2, 2026); data from EODHD.
CNNE financial position
At the end of fiscal 2025 (December 31, 2025), Cannae had total assets of $1.3 billion (down 40.7% from a year earlier), total liabilities of $329.8 million and shareholders' equity of $1.0 billion. It held $182.0 million in cash and short-term investments against $331.8 million of debt, net debt of $149.8 million. Its current ratio was 2.07. In the latest quarter (ended June 30, 2026) total assets were $1.3 billion and equity $957.6 million.
Related: CNNE income statement, CNNE cash flow statement, CNNE key metrics. See the CNNE stock overview for the latest quote and news.
CNNE balance sheet FAQ
What are Cannae's total assets?
Cannae reported total assets of $1.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.2 billion a year earlier.
How much debt does Cannae have?
Cannae had $331.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.32.
How much cash does Cannae have?
Cannae held $182.0 million in cash and short-term investments at the end of fiscal 2025; with $331.8 million of debt that is net debt of $149.8 million.
What is Cannae's book value?
Cannae's shareholders' equity (book value) was $1.0 billion at the end of fiscal 2025, or $18.12 per share.
What is Cannae's current ratio?
Cannae had current assets of $268.3 million and current liabilities of $129.7 million, a current ratio of 2.07 (it can cover its short-term obligations).
How much goodwill does Cannae have?
Cannae carried $66.6 million of goodwill and intangible assets, 5.0% of total assets, at the end of fiscal 2025.