CNA Financial Corporation (CNA) Key Metrics
CNA valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $12.96B
- Enterprise value
- $15.38B
- P/E (TTM)
- 10.6 10-yr median 13.4
- Forward P/E
- 10.4
- PEG ratio
- 0.92
- Price / sales
- 0.9 10-yr median 1.0
- Price / book
- 1.1 10-yr median 1.1
- EV / EBITDA
- — 10-yr median 10.7
- Dividend yield
- 4.01% $1.92 a year
- Beta
- 0.27
CNA key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCNA valuation Price multiples at each fiscal year-end price.
CNA returns How much profit the business earns on the capital it uses.
CNA per-share figures Results divided by the shares outstanding at year-end.
CNA financial health Debt, liquidity and how easily interest is covered.
CNA efficiency & capital use Working capital cycle and where the cash goes.
CNA valuation history
CNA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CNA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CNA cash returned to shareholders
CNA price vs earnings per share
CNA key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $13.00B | $13.19B | $11.52B | $11.52B | $12.03B | $10.63B | $12.21B | $12.03B | $14.43B | $11.25B |
| Enterprise value | $11.84B | $15.93B | $14.42B | $14.05B | $14.51B | $10.92B | $15.01B | $14.40B | $16.94B | $13.69B |
| P/E ratio | 10.2 | 13.8 | 9.6 | 16.9 | 10.2 | 15.4 | 12.2 | 14.8 | 16.1 | 13.1 |
| Price / sales | 0.9 | 0.9 | 0.9 | 1.0 | 1.0 | 1.0 | 1.1 | 1.2 | 1.5 | 1.2 |
| Price / book | 1.1 | 1.3 | 1.2 | 1.3 | 0.9 | 0.2 | 1.0 | 1.1 | 1.2 | 0.9 |
| Price / free cash flow | 5.4 | 5.3 | 5.2 | 4.7 | 4.9 | 5.4 | 7.0 | 10.7 | 12.5 | 8.9 |
| Price / operating cash flow | 5.2 | 5.1 | 5.0 | 4.6 | 4.8 | 5.3 | 6.9 | 9.8 | 11.5 | 7.9 |
| EV / sales | 0.8 | 1.1 | 1.1 | 1.2 | 1.3 | 1.0 | 1.4 | 1.4 | 1.8 | 1.5 |
| EV / EBITDA | 6.5 | 11.3 | 8.4 | 14.4 | 8.9 | 10.9 | 10.6 | 12.2 | 10.9 | 10.0 |
| EV / free cash flow | 4.9 | 6.4 | 6.6 | 5.7 | 5.9 | 5.5 | 8.6 | 12.8 | 14.7 | 10.8 |
| Earnings yield | 9.8% | 7.3% | 10.5% | 5.9% | 9.8% | 6.5% | 8.2% | 6.8% | 6.2% | 7.6% |
| Free cash flow yield | 18.5% | 18.8% | 19.1% | 21.3% | 20.4% | 18.5% | 14.4% | 9.4% | 8.0% | 11.3% |
| Dividend yield | 8.1% | 7.8% | 6.8% | 8.5% | 8.2% | 5.8% | 7.8% | 7.4% | 5.8% | 7.2% |
| Shareholder yield (dividends + buybacks) | 8.3% | 7.9% | 7.0% | 8.9% | 8.5% | 6.0% | 7.9% | 7.4% | 5.8% | 7.2% |
| Share price at fiscal year-end | $47.74 | $48.37 | $42.31 | $42.28 | $44.08 | $38.96 | $44.81 | $44.15 | $53.05 | $41.50 |
| Per share | ||||||||||
| Revenue per share | $54.03 | $51.33 | $48.22 | $43.64 | $42.32 | $39.18 | $39.53 | $37.19 | $35.07 | $34.55 |
| Earnings per share | $4.69 | $3.52 | $4.43 | $2.50 | $4.34 | $2.53 | $3.67 | $2.98 | $3.30 | $3.17 |
| Operating cash flow per share | $9.14 | $9.43 | $8.39 | $9.18 | $9.17 | $7.32 | $6.52 | $4.50 | $4.61 | $5.22 |
| Free cash flow per share | $8.83 | $9.08 | $8.06 | $8.99 | $8.98 | $7.23 | $6.43 | $4.14 | $4.23 | $4.68 |
| Cash per share | $15.18 | $1.73 | $1.27 | $1.74 | $1.96 | $9.26 | $0.89 | $1.14 | $1.30 | $1.00 |
| Book value per share | $42.68 | $38.55 | $36.34 | $31.37 | $46.95 | $171.80 | $44.84 | $41.16 | $45.00 | $44.15 |
| Tangible book value per share | $38.51 | $37.74 | $35.52 | $30.58 | $46.17 | $171.02 | $44.05 | $40.38 | $44.19 | $43.36 |
| Dividends per share | $3.85 | $3.76 | $2.89 | $3.60 | $3.60 | $2.28 | $3.49 | $3.29 | $3.09 | $3.00 |
| Capex per share | $0.32 | $0.35 | $0.33 | $0.19 | $0.19 | $0.10 | $0.08 | $0.36 | $0.37 | $0.54 |
| Debt per share | $10.91 | $11.78 | $11.93 | $11.01 | $11.08 | $10.34 | $11.19 | $9.83 | $10.50 | $10.00 |
| Shares outstanding | 272.3M | 272.7M | 272.2M | 272.5M | 272.8M | 272.8M | 272.4M | 272.5M | 272.1M | 271.1M |
| Change in shares outstanding | −0.1% | +0.2% | −0.1% | −0.1% | 0.0% | +0.1% | −0.0% | +0.1% | +0.4% | +0.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 11.5% | 9.4% | 13.1% | 6.4% | 4.0% | 2.3% | 8.5% | 6.9% | 7.4% | 7.2% |
| Return on invested capital (ROIC) | 10.8% | 7.4% | 10.1% | 5.2% | 3.8% | 2.2% | 7.0% | 5.7% | 6.2% | 6.1% |
| Return on assets (ROA) | 2.0% | 1.6% | 2.1% | 1.1% | 2.0% | 1.2% | 1.8% | 1.5% | 1.7% | 1.7% |
| Return on tangible assets | 1.9% | 1.6% | 2.0% | 1.2% | 1.8% | 1.3% | 1.8% | 1.5% | 1.7% | 1.7% |
| Free cash flow margin | 16.3% | 17.7% | 16.7% | 20.6% | 21.2% | 18.4% | 16.3% | 11.1% | 12.1% | 13.6% |
| Income quality (OCF / net income) | 1.95 | 2.68 | 1.90 | 3.67 | 2.11 | 2.89 | 1.77 | 1.51 | 1.39 | 1.65 |
| Financial health | ||||||||||
| Total debt | $2.97B | $3.21B | $3.25B | $3.00B | $3.02B | $2.82B | $3.05B | $2.68B | $2.86B | $2.71B |
| Cash & short-term investments | $4.13B | $472.0M | $345.0M | $475.0M | $536.0M | $2.53B | $242.0M | $310.0M | $355.0M | $271.0M |
| Net debt | −$1.16B | $2.74B | $2.90B | $2.53B | $2.49B | $294.0M | $2.81B | $2.37B | $2.50B | $2.44B |
| Debt / equity | 0.26 | 0.31 | 0.33 | 0.35 | 0.24 | 0.06 | 0.25 | 0.24 | 0.23 | 0.23 |
| Debt / assets | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Net debt / EBITDA | −0.64 | 1.94 | 1.69 | 2.59 | 1.53 | 0.29 | 1.97 | 2.01 | 1.61 | 1.78 |
| Current ratio | 0.38 | 0.22 | 0.21 | 0.73 | 0.53 | 2.43 | 0.67 | 0.06 | 0.06 | 0.06 |
| Quick ratio | 0.38 | 0.22 | 0.61 | 2.12 | 2.19 | 3.93 | 2.24 | 0.06 | 0.06 | 0.06 |
| Interest coverage | 12.0 | 9.1 | 12.0 | 7.3 | 12.9 | 6.7 | 9.3 | 7.0 | 8.1 | 7.2 |
| Working capital | −$23.64B | −$14.82B | −$14.68B | −$1.32B | −$2.11B | $6.43B | −$1.33B | −$40.62B | −$38.97B | −$38.07B |
| Invested capital | $10.46B | $13.25B | $12.79B | $11.07B | $15.29B | $47.16B | $15.02B | $13.59B | $14.75B | $14.41B |
| Tangible asset value | $10.49B | $10.29B | $9.67B | $8.33B | $12.59B | $46.65B | $12.00B | $11.00B | $12.02B | $11.76B |
| Net current asset value | −$43.09B | −$46.16B | −$45.88B | −$43.61B | −$51.44B | $3.65B | −$41.96B | −$39.07B | −$37.84B | −$36.94B |
| Graham number | $67.13 | $55.23 | $60.17 | $42.03 | $67.71 | $98.88 | $60.86 | $52.57 | $57.84 | $56.10 |
| Graham net-net per share | −$167.97 | −$172.62 | −$185.47 | −$175.55 | −$194.04 | −$6.73 | −$167.90 | −$145.50 | −$141.16 | −$138.30 |
| Capital allocation | ||||||||||
| Dividends paid | $1.05B | $1.02B | $787.0M | $982.0M | $982.0M | $621.0M | $950.0M | $896.0M | $842.0M | $813.0M |
| Share buybacks (net) | $34.0M | $20.0M | $24.0M | $39.0M | $39.0M | $18.0M | $18.0M | — | $0 | $0 |
| Dividend payout ratio | 81.9% | 106.9% | 65.3% | 144.0% | 82.9% | 90.0% | 95.0% | 110.2% | 93.7% | 94.6% |
| Dividends + buybacks / free cash flow | 45.0% | 42.2% | 36.9% | 41.7% | 41.7% | 32.4% | 55.3% | 79.4% | 73.1% | 64.0% |
| Capex / revenue | 0.6% | 0.7% | 0.7% | 0.4% | 0.5% | 0.2% | 0.2% | 1.0% | 1.1% | 1.6% |
| Capex / operating cash flow | 3.5% | 3.7% | 3.9% | 2.1% | 2.1% | 1.3% | 1.3% | 8.1% | 8.1% | 10.3% |
| Capex / depreciation | 1.23 | 1.42 | 1.23 | 1.02 | 1.02 | 0.48 | 0.38 | 1.25 | 1.16 | 1.90 |
| Stock-based compensation / revenue | — | — | 0.3% | 2.7% | −2.0% | −2.1% | 0.4% | 0.3% | 0.4% | 0.4% |
| SG&A / revenue | — | — | — | — | — | — | 0.0% | 0.1% | 0.1% | 0.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 177.0 | 92.7 | 91.8 | 132.3 | 219.2 | 185.4 | 80.9 | 83.1 | 86.1 | 83.5 |
| Days of inventory on hand | — | — | -300.7 | -321.4 | -332.7 | -315.3 | -321.1 | — | — | — |
| Days payables outstanding | — | — | -724.7 | 167.4 | 137.4 | -863.7 | 111.8 | 1,162.3 | 1,236.9 | 1,260.1 |
| Cash conversion cycle (days) | — | — | 515.8 | -356.5 | -250.8 | 733.8 | -352.0 | -1,079.2 | -1,150.9 | -1,176.6 |
| Receivables turnover | 2.06 | 3.94 | 3.98 | 2.76 | 1.66 | 1.97 | 4.51 | 4.39 | 4.24 | 4.37 |
| Payables turnover | — | — | — | 2.18 | 2.66 | — | 3.26 | 0.31 | 0.30 | 0.29 |
| Asset turnover | 0.23 | 0.23 | 0.23 | 0.19 | 0.19 | 0.19 | 0.20 | 0.19 | 0.18 | 0.18 |
| Average receivables | $7.14B | $3.56B | $3.30B | $4.31B | $6.94B | $5.43B | $2.39B | $2.31B | $2.25B | $2.14B |
| Average payables | — | — | −$17.30B | $3.73B | $2.94B | −$17.94B | $2.20B | $21.99B | $22.17B | $22.50B |
| Average inventory | — | — | −$7.18B | −$7.17B | −$7.12B | −$6.55B | −$6.32B | — | $0 | $0 |
| Intangibles / total assets | 1.6% | 0.4% | 0.4% | 0.4% | 0.3% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% |
Computed from CNA's annual financial statements (latest annual report filed February 10, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CNA valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), CNA Financial traded at 10.2 times earnings, against a 10-year median of 13.4. Based on the latest twelve months, the trailing P/E is 10.6 and the forward P/E is 10.4. CNA Financial earned a return on equity of 11.5% and a return on invested capital of 10.8% in fiscal 2025. It ended the year with $3.0 billion of debt and $4.1 billion in cash and short-term investments, a net cash position of $1.2 billion. It returned $1.1 billion to shareholders: $1.0 billion in dividends and $34.0 million in share buybacks, 45% of free cash flow.
See the CNA income statement, the CNA chart for price history, or the CNA stock overview for the latest quote and news.
CNA key metrics FAQ
What is CNA Financial's P/E ratio?
CNA Financial's trailing P/E ratio is 10.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.4. At the end of fiscal 2025 it was 10.2, compared with a 10-year median of 13.4.
What is CNA Financial's EV/EBITDA?
CNA Financial's enterprise value was 6.5 times EBITDA at the end of fiscal 2025 (enterprise value $11.8 billion, EBITDA $1.8 billion).
What is CNA Financial's return on equity?
CNA Financial's return on equity (ROE) was 11.5% in fiscal 2025: net income of $1.3 billion on average shareholders' equity of $11.1 billion.
What is CNA Financial's ROIC?
CNA Financial's return on invested capital was 10.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does CNA Financial have?
CNA Financial had total debt of $3.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.26 and more cash than debt.
What is CNA Financial's dividend yield?
CNA Financial's forward dividend yield is 4.01%. CNA Financial paid $1.0 billion in dividends in fiscal 2025 ($3.85 per share), a payout ratio of 81.9%.
Does CNA Financial buy back its shares?
Yes. CNA Financial spent $34.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.1% over the year, to 272.3M..
What is CNA Financial's free cash flow yield?
CNA Financial generated $2.4 billion of free cash flow in fiscal 2025, a free cash flow yield of 18.5% on its market value at year-end ($13.0 billion).
What is CNA Financial's current ratio?
CNA Financial's current ratio was 0.38 at the end of fiscal 2025: current assets were 0.38 times current liabilities.