CNO Financial Group, Inc. CNO

Financials SIC 6321 - Accident & Health Insurance NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers › Direct Life, Health, and Medical Insurance Carriers › Direct Health and Medical Insurance Carriers derived 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 53.66 2026-10-23
Market cap $4.96B 2026-06-30 share count
52-week range 38.99 - 57.59

Valuation FY2025 figures against the last close

P/S1.1x
P/E23.3x
P/FCF7.3x
EV/EBITDA5.7x
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.) 99.8M108.1M115.1M117.7M131.1M143.2M157.1M165.5M172.1M178.3M

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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2016: 4B Net income, FY2016: 358.2M Revenue, FY2017: 4.3B Net income, FY2017: 175.6M Revenue, FY2018: 4.3B Net income, FY2018: -315M Revenue, FY2019: 4B Net income, FY2019: 409.4M Revenue, FY2020: 3.8B Net income, FY2020: 301.8M Revenue, FY2021: 4.1B Net income, FY2021: 570.3M Revenue, FY2022: 3.6B Net income, FY2022: 630.6M Revenue, FY2023: 4.1B Net income, FY2023: 276.5M Revenue, FY2024: 4.4B Net income, FY2024: 420.8M Revenue, FY2025: 4.5B Net income, FY2025: 229.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $3.99B $4.30B $4.31B $4.02B $3.82B $4.12B $3.58B $4.15B $4.45B $4.49B
Gross profit — — — — — — — — — —
Net income $358.2M $175.6M -$315.0M $409.4M $301.8M $570.3M $630.6M $276.5M $420.8M $229.3M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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