CNO Financial Group, Inc. CNO

Financials SIC 6321 - Accident & Health Insurance NYSE

CNO is a holding company for a group of insurance companies that develop, market and administer health insurance, annuity, individual life insurance and other insurance and financial services products. The terms "CNO Financial Group, Inc.", "CNO", the "Company", "we", "us", and "our" as used in this report refer to CNO and its subsidiaries. Such terms, when used to describe insurance business and products, refer to the insurance business and products of CNO's insurance subsidiaries.

We focus on serving middle-income pre-retiree and retired Americans, which we believe are attractive, underserved, high growth markets. We sell our products through exclusive agents, independent producers (some of whom sell one or more of our product lines exclusively) and direct marketing. As of December 31, 2025, we had total assets of $38.8 billion and shareholders' equity of $2.6 billion (which included an accumulated other comprehensive loss of $1.1 billion). For the year ended December 31, 2025, we had revenues of $4.5 billion and net income of $229.3 million. See our consolidated financial statements and accompanying footnotes for additional financial information about the Company and its segments.

Last close 56.75 2026-09-04
Market cap $5.25B 2026-06-30 share count
52-week range 38.22 - 57.59

Valuation FY2025 figures against the last close

P/S1.2x
P/E24.7x
P/FCF7.8x
EV/EBITDA6.0x
Dividend yield1.3%
Diluted EPS2.30

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $4.49B$4.45B$4.15B$3.58B$4.12B$3.82B$4.02B$4.31B$4.30B$3.99B
Operating income $553.2M$550.8M$459.5M$466.7M$514.7M$463.8M$368.3M$381.2M$454.7M
Interest expense $230.9M$254.4M$238.6M$137.0M$95.4M$108.8M$152.3M$149.8M$123.7M$116.4M
Pre-tax income $293.4M$539.9M$356.8M$816.5M$733.1M$344.3M$274.2M-$264.8M$480.5M$353.2M
Income tax $64.1M$119.1M$80.3M$185.9M$162.8M$42.5M$135.2M$50.2M$304.9M$5.0M
Net income $229.3M$420.8M$276.5M$630.6M$570.3M$301.8M$409.4M-$315.0M$175.6M$358.2M
EPS, basic 2.353.962.445.454.442.122.62-1.901.032.03
EPS, diluted 2.303.892.405.364.352.112.61-1.901.022.01
Shares, diluted (wtd. avg.) $99.8M$108.1M$115.1M$117.7M$131.1M$143.2M$157.1M$165.5M$172.1M$178.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $983.5M$2.00B$889.0M$644.9M$731.7M$991.9M$654.7M$656.6M$757.3M$668.2M
Goodwill $69.5M
Total assets $38.79B$37.85B$35.03B$33.13B$36.20B$35.34B$33.61B$31.44B$33.11B$31.98B
Long-term debt $916.8M$914.6M$912.9M
Total liabilities $36.15B$35.33B$32.81B$31.36B$30.94B$29.86B$28.95B$28.07B$28.26B$27.49B
Retained earnings $2.42B$2.25B$1.90B$1.69B$1.13B$752.3M$517.9M$193.5M$576.7M$650.1M
Total equity $2.64B$2.52B$2.22B$1.77B$3.68B$5.48B$4.68B$3.37B$4.85B$4.49B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $675.7M$627.7M$582.9M$495.4M$598.3M$735.5M$696.7M$317.8M$633.3M$775.7M
Depreciation and amortisation $318.5M$292.4M$267.4M$248.5M$236.6M$303.9M$267.9M$292.2M$265.4M$275.0M
Investing cash flow -$1.67B-$1.49B-$872.3M-$1.78B-$1.53B-$608.4M-$555.6M-$525.7M-$270.2M-$930.4M
Financing cash flow -$22.6M$1.97B$533.5M$1.20B$667.6M$210.1M-$143.0M$107.2M-$274.0M$26.2M
Dividends paid $66.2M$67.7M$68.1M$64.8M$65.7M$67.0M$67.1M$64.8M$59.6M$54.8M
Buybacks $331.4M$300.2M$166.1M$190.1M$407.8M$268.3M$254.5M$108.0M$168.3M$210.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001224608-26-000017.

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