CNA
CNA FINANCIAL CORP
Next earnings Aug 3, 2026 · consensus $1.02 EPS
Last earnings -8.0% on 2026-05-04
$51.17
▲ +4.54%$51.17▲ +14.57%
over 1Y
L $41.62H $51.17
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.5%
1W+9.0%
1M+21.1%
3M+11.9%
YTD+11.5%
1Y+14.6%
Buy
Conviction
Horizon
Medium (3–12mo)
Street · 11 analysts
Sell
Cheap P&C insurer at 9.5x earnings paying a heavy dividend, with long-term-care reserve risk the main overhang.
P/E 9.5 · current
The read
Quality fundamentals and an attractive price line up (~208% below fair value) — the rarer case where both the business and the entry look good.
CNA Financial is a value-and-income proposition. Net income rose to $1.28B in FY2025 (+33.3%), with diluted EPS of $4.69 (+33.2%), and the stock trades at just 9.5x earnings at $44.52. Earnings have been substantial and reasonably durable across the cycle: $1.18B (FY2021), $682M (FY2022), $1.21B (FY2023), $959M (FY2024) and $1.28B (FY2025). Stockholders' equity grew 10.5% to $11.6B against a $12.1B market cap, so the stock trades near book value while generating an 11.0% ROE.
The capital return is the centerpiece of the case. CNA paid $1.05B of common dividends in FY2025 (+2.1%) plus a modest $34.0M of buybacks. Against a $12.1B market cap, that dividend alone is a heavy yield, supported by $2.49B of operating cash flow. Retained earnings of $9.91B and total assets of $69.4B underpin the payout, and long-term debt of $2.97B is essentially flat and small relative to the balance sheet.
Is CNA a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBull call spread~60d expiry
- Long call 51 @ ~2.39 est
- Short call 56 @ ~0.67 est
debit $172max +$328max −$172BE 52.72
BUY verdict with defined risk: the short call finances part of the long one; max loss is the net debit.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.43B | $1.57B | $1.62B | $1.61B | $1.58B |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $1.18B | $682M | $1.21B | $959M | $1.28B |
| Diluted EPS | $4.34 | $2.51 | $4.43 | $3.52 | $4.69 |
| Net margin | 82.8% | 43.3% | 74.2% | 59.6% | 81.0% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF5.8
PEG (trailing)0.33
Earnings yield9.2%
FCF yield17.4%
Quality & risk
ROIC (est.)—
Free cash flow$2.40B
Total debt$2.97B
Net cash-$2.55B
Piotroski F-Score6/7
Capital returns
Buyback yield0.2%
Dividend yield (est.)7.6%
Shareholder yield7.8%
Shares Δ YoY-0.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗13F-HRPeriod ending 2026-03-312026-05-15open ↗S-8Filing2026-05-07open ↗10-QPeriod ending 2026-03-312026-05-04open ↗8-KPeriod ending 2026-05-042026-05-04open ↗8-KPeriod ending 2026-04-292026-04-29open ↗DEFA14AFiling2026-03-27open ↗4Period ending 2026-03-192026-03-20open ↗ARSPeriod ending 2025-12-312026-03-20open ↗DEF 14APeriod ending 2026-04-292026-03-20open ↗144Filing2026-03-19open ↗4Period ending 2026-03-152026-03-17open ↗4Period ending 2026-03-152026-03-17open ↗
Frequently asked
- Is CNA FINANCIAL CORP (CNA) a buy?
- CNA currently carries a Buy rating with 3/5 conviction, derived from its latest SEC filings. Cheap P&C insurer at 9.5x earnings paying a heavy dividend, with long-term-care reserve risk the main overhang.
- What is CNA's fair value?
- A Modified-Graham model based on CNA's SEC fundamentals estimates a fair value of about $157.37. It is an estimate from reported earnings, not a price target.
- Is CNA overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, CNA currently appears undervalued relative to its SEC-grounded earnings power.
- What is CNA FINANCIAL CORP's quality score?
- CNA scores 75.6802860061287/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000021175, latest 10-Q filed 2026-05-04) · EODHD · Proprietary analysis · as of 6/21/2026, 8:46:34 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:46 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.