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CNA Financial
(NYSE:CNA)
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Rating:74Outperform
Price Target:
$59.00
â–²(9.95% Upside)
Action:Reiterated
Date:08/05/26
The score is driven primarily by solid underlying financial strength (modest leverage, consistent profitability, and strong free cash flow) and attractive valuation (low-to-moderate P/E with a high dividend yield). These positives are tempered by recent margin and cash-flow softness and earnings-call signals of underwriting pressure (higher underlying loss ratios and reserve actions), while technicals remain moderately supportive with an uptrend but no extreme momentum.
Positive Factors
Premium and Revenue Growth
CNA has expanded its revenue base over several years while continuing to grow premiums. Record new business and growth in Commercial and Specialty indicate durable customer demand and distribution strength.
Negative Factors
Rising Underlying Loss Costs
Higher underlying loss ratios indicate broad claims-cost pressure rather than a purely catastrophe-driven issue. Persistent severity or inflation could require higher pricing, constrain growth and keep underwriting profitability below potential.
Read all positive and negative factors
Positive Factors
Negative Factors
Premium and Revenue Growth
CNA has expanded its revenue base over several years while continuing to grow premiums. Record new business and growth in Commercial and Specialty indicate durable customer demand and distribution strength.
Read all positive factors
CNA Financial Key Performance Indicators (KPIs)
Any
Operating Revenues By Segment
Breaks down revenue from different business segments, revealing which areas are generating the most income and potential growth opportunities.
Breaks down revenue from different business segments, revealing which areas are generating the most income and potential growth opportunities.
Data provided by:
The Fly
The FlyCNA Financial (CNA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.25B
Dividend Yield7.96%
Average Volume (3M)571.56K
Price to Earnings (P/E)10.7
Beta (1Y)0.32
Revenue Growth3.41%
EPS Growth41.13%
CountryUS
Employees6,600
SectorFinancial
Sector Strength70
IndustryInsurance - Property & Casualty
Share Statistics
EPS (TTM)4.56
Shares Outstanding270,600,920
10 Day Avg. Volume501,207
30 Day Avg. Volume571,559
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)1.11
Price to Sales (P/S)0.88
P/FCF Ratio5.38
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$49.00Price Target Upside-8.68% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)4.13
Revenue Forecast (FY)$11.97B
CNA Financial Business Overview & Revenue Model
Company Description
CNA Financial Corporation is a prominent insurer primarily serving the United States market, specializing in commercial property and casualty solutions. Its operations are structured across five key segments: Specialty, Commercial, International, ...
How the Company Makes Money
CNA primarily makes money through (1) underwriting income and (2) investment income generated from its insurance operations, with additional contributions from fee-based activities where applicable.
1) Net earned premiums (core revenue stream): C...
CNA Financial Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Neutral
The call reflects a balanced message: clear strengths in disciplined premium growth (record new business), solid investment performance, maintained expense discipline, favorable reinsurance renewals and a strong capital base. Offsetting these positives are rising underlying loss ratios, a notable corporate mass tort reserve charge, pressure in International and some commercial lines (including very weak national accounts property new business and sub-80 commercial auto retention), and lower first-half operating cash flow. Management emphasizes discipline and selective growth which mitigates some near-term headwinds.Positive Updates
Record New Business and Premium Growth
Net written premium rose 4% year-over-year and record new business reached $718 million, up 11% versus the prior year quarter; Commercial net written premium grew 5% and Specialty net written premium grew 5%.
Negative Updates
Core Income Decline
Core income was $324 million in the quarter, down from $335 million in the prior-year quarter (approximately -3.0%), producing a core return on equity of 10.5%.
Read all updates
Q2-2026 Updates
Positive
Negative
Record New Business and Premium Growth
Net written premium rose 4% year-over-year and record new business reached $718 million, up 11% versus the prior year quarter; Commercial net written premium grew 5% and Specialty net written premium grew 5%.
Read all positive updates
Company Guidance
Guidance focused mainly on investments and operating run-rates: management expects fixed income and other investment income of about $575 million in Q3 and about $2.3 billion for full‑year 2026 (roughly +2% vs. 2025); they reiterated a P&C expense ratio around 30% as a reasonable 2026 run‑rate and an effective tax rate on core income near 20.9% for the year; reinvestment rates remain above the P&C effective yield of 4.5% and roughly in line with the Life & Group yield of 5.7%, fixed income portfolio duration is 6.4 years (Life & Group duration 10.0 years); timing notes include Life & Group assumption updates in Q3 and an asbestos & environmental reserve review in Q4, and the regular quarterly dividend of $0.48 per share payable Sept 3 (record Aug 17).CNA Financial Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.01B | 14.71B | 14.00B | 13.13B | 11.89B | 11.55B |
| Gross Profit | 5.17B | 4.52B | 4.46B | 4.41B | 3.75B | 3.73B |
| EBITDA | 1.78B | 1.82B | 1.41B | 1.72B | 977.00M | 1.63B |
| Net Income | 1.35B | 1.28B | 959.00M | 1.21B | 682.00M | 1.18B |
Balance Sheet | ||||||
| Total Assets | 69.87B | 69.44B | 60.81B | 59.56B | 55.79B | 61.69B |
| Cash, Cash Equivalents and Short-Term Investments | 2.06B | 4.13B | 472.00M | 345.00M | 475.00M | 536.00M |
| Total Debt | 2.97B | 2.97B | 3.21B | 3.25B | 3.00B | 3.03B |
| Total Liabilities | 58.69B | 57.82B | 50.30B | 49.67B | 47.25B | 48.88B |
| Stockholders Equity | 11.19B | 11.62B | 10.51B | 9.89B | 8.55B | 12.81B |
Cash Flow | ||||||
| Free Cash Flow | 2.25B | 2.40B | 2.48B | 2.19B | 2.45B | 1.97B |
| Operating Cash Flow | 2.33B | 2.49B | 2.57B | 2.29B | 2.50B | 2.00B |
| Investing Cash Flow | -1.23B | -1.45B | -1.32B | -1.84B | -1.51B | -1.23B |
| Financing Cash Flow | -1.12B | -1.10B | -1.12B | -577.00M | -1.03B | -648.00M |
CNA Financial Technical Analysis
Neutral
53.66
Price Trends
49.93
Negative
47.23
Positive
45.75
Positive
Market Momentum
-0.28
Positive
38.90
Neutral
3.50
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNA, the sentiment is Neutral. The current price of 53.66 is above the 20-day moving average (MA) of 51.50, above the 50-day MA of 49.93, and above the 200-day MA of 45.75, indicating a neutral trend. The MACD of -0.28 indicates Positive momentum. The RSI at 38.90 is Neutral, neither overbought nor oversold. The STOCH value of 3.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CNA.
CNA Financial Risk Analysis
CNA Financial disclosed 20 risk factors in its most recent earnings report. CNA Financial reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CNA Financial Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $6.00B | 13.74 | 24.37% | 4.08% | 10.29% | 35.39% | |
80 Outperform | $11.92B | 12.55 | 20.01% | 4.88% | -1.43% | 25.53% | |
78 Outperform | $5.45B | 11.35 | 13.87% | 1.80% | 7.30% | 32.16% | |
76 Outperform | $7.77B | 10.51 | 21.22% | 1.72% | 5.57% | 38.39% | |
75 Outperform | $7.20B | 6.18 | 19.21% | 1.51% | 9.43% | 35.23% | |
74 Outperform | $13.25B | 10.74 | 11.99% | 7.23% | 3.41% | 41.13% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
CNA
CNA Financial
48.98
3.88
8.59%
AFG
American Financial Group
143.70
16.86
13.29%
AXS
Axis Capital
98.73
2.30
2.38%
RLI
RLI
65.38
3.12
5.01%
SIGI
Selective Insurance Group
91.47
15.70
20.72%
THG
Hanover Insurance
223.16
53.47
31.51%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.