Cannae Holdings (CNNE) AI Stock Analysis

• Market Cap: $502.16M
• Dividend Yield: 3.45%
• Average Volume (3M): 689.37K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.90
• Revenue Growth: -6.86%
• EPS Growth: -56.65%
• Country: US
• Employees: 7,317
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Restaurants
• EPS (TTM): -1.93
• Shares Outstanding: 46,324,720
• 10 Day Avg. Volume: 599,835
• 30 Day Avg. Volume: 689,369
• PEG Ratio: -0.02
• Price to Book (P/B): 0.87
• Price to Sales (P/S): 2.10
• P/FCF Ratio: -52.59
• Enterprise Value/Market Cap: 1.44
• Enterprise Value/Revenue: 1.70
• Enterprise Value/Gross Profit: 3.61K
• Enterprise Value/Ebitda: -3.96
• 1Y Price Target: $16.00
• Price Target Upside: 47.60% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -1.86
• Revenue Forecast (FY): $404.00M

• Rating: 47 Neutral
• Price Target: $12.00 ▲(10.70% Upside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

The score is held down primarily by weak financial performance (multi-year revenue declines, ongoing losses, and consistently negative operating/free cash flow). Technicals also remain bearish with price below key moving averages and negative MACD, despite oversold signals. Offsetting factors include shareholder-friendly capital actions and improved liquidity/portfolio focus from the earnings call, plus a supportive dividend yield and a modestly positive financing/capital-structure event.

Positive Factors

Significant liquidity from D&B sale

The $630M Dun & Bradstreet monetization meaningfully boosts corporate liquidity and creates durable optionality to redeploy capital into higher-conviction assets, fund buybacks/dividends, or shore up the balance sheet without relying on recurring operating cash flow.

Aggressive shareholder returns and buybacks

Large buybacks ($323M, ~28% of shares) and a 25% dividend hike demonstrate a consistent capital-allocation priority toward returning cash to shareholders, reducing outstanding shares and improving long-run per-share economics even if core operations remain challenged.

Portfolio pivot into sports & entertainment

Concentrating on sports & entertainment with increased stakes and full ownership of assets (FC Lorient) plus stadium expansion creates clearer operational levers and proprietary value creation opportunities that can generate recurring revenue streams and asset appreciation over multiple years.

Negative Factors

Multi-year revenue contraction

Four consecutive years of revenue decline signal structural demand or portfolio-performance issues that are unlikely to be solved by one-off monetizations. Persistent top-line weakness constrains margin recovery, reduces reinvestment capacity, and elevates execution risk for strategic pivots.

Consistent negative operating and free cash flow

A sustained pattern of negative OCF and FCF forces reliance on asset sales, tax refunds, and financings to fund operations and shareholder returns. This undermines durable financial flexibility and limits the company's ability to self-fund growth or weather further operating setbacks.

Widening operating losses and impairments

Growing operating losses, recurring impairments and large one-time charges erode equity and signal that core operations are not yet profitable. This reduces the runway for strategic investments and increases the need for successful monetizations or operational restructurings to restore long-term value.

Cannae Holdings Business Overview & Revenue Model

Company Description

Cannae Holdings, Inc. is a principal investment firm. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more. It takes both minority and majority stakes. Cannae Holdings, Inc. is based in Las Vegas, Nevada.

How the Company Makes Money

Cannae Holdings generates revenue primarily through its investment activities and the performance of its portfolio companies. The company capitalizes on its investments by acquiring stakes in companies that exhibit growth potential, providing operational support, and strategic direction to enhance their performance. Key revenue streams include realized gains from the sale of investments, dividends from portfolio companies, and management fees from subsidiaries. Additionally, Cannae engages in partnerships and collaborations that can provide further financial benefits, such as joint ventures or strategic alliances with other firms. The company’s diversified portfolio enables it to mitigate risks and capitalize on various market opportunities, contributing to its overall financial performance.

Cannae Holdings Financial Statement Overview

Summary

Overall financial quality is weak: revenue has declined for multiple years, operating results remain deeply negative (negative EBIT/EBITDA) with widening net losses, and operating/free cash flow are negative across 2020–2025. Balance-sheet leverage is only moderate, but equity/assets have contracted and ROE is deeply negative, signaling ongoing value erosion.

Income Statement

Revenue has contracted for four straight years (2022–2025), with 2025 down meaningfully versus 2024, signaling a weak top-line trajectory. Profitability is also pressured: gross margin improved in 2025 versus the very low level in 2024, but operating results remain deeply negative (negative EBIT and EBITDA) and net losses widened materially in 2025. The 2020 profit profile appears non-recurring versus the persistent losses that followed, which reduces confidence in earnings stability.

Balance Sheet

Leverage looks moderate based on debt-to-equity (rising to ~0.32 in 2025 from lower levels in prior years), which is not extreme on its own. However, equity and total assets have declined sharply from 2021–2024 levels to 2025, and returns on equity are significantly negative in 2022–2025, reflecting ongoing value erosion from losses. Overall, the balance sheet is not heavily levered, but the shrinking capital base and weak returns are notable risks.

Cash Flow

Cash generation remains a key concern: operating cash flow and free cash flow are negative in every year shown (2020–2025). While the cash outflow narrowed substantially in 2025 versus 2024, free cash flow still deteriorated versus the prior year and remains negative, implying continued reliance on asset sales, financing, or balance-sheet capacity to fund operations. The consistent pattern of negative cash flow limits financial flexibility.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	423.60M	452.50M	570.00M	662.10M	742.20M
Gross Profit	53.70M	2.90M	43.00M	31.20M	44.70M
EBITDA	-384.30M	-224.50M	-150.90M	-278.70M	-374.00M
Net Income	-513.20M	-304.60M	-313.40M	-428.10M	-287.00M
Balance Sheet
Total Assets	1.32B	2.23B	2.69B	3.13B	3.89B
Cash, Cash Equivalents and Short-Term Investments	182.00M	137.70M	121.80M	282.60M	85.80M
Total Debt	331.80M	330.50M	274.20M	300.00M	235.80M
Total Liabilities	329.80M	413.60M	377.50M	410.60M	548.50M
Stockholders Equity	1.02B	1.84B	2.32B	2.72B	3.34B
Cash Flow
Free Cash Flow	-16.90M	-97.10M	-97.80M	-219.40M	-189.80M
Operating Cash Flow	-18.10M	-90.10M	-87.80M	-205.10M	-176.10M
Investing Cash Flow	518.10M	298.30M	53.10M	521.20M	-272.40M
Financing Cash Flow	-449.50M	-182.90M	-106.80M	-154.20M	-190.40M

Cannae Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.84
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNNE, the sentiment is Negative. The current price of 10.84 is below the 20-day moving average (MA) of 11.68, below the 50-day MA of 13.41, and below the 200-day MA of 16.89, indicating a bearish trend. The MACD of -0.63 indicates Negative momentum. The RSI at 32.11 is Neutral, neither overbought nor oversold. The STOCH value of 10.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CNNE.

Cannae Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ARCO	60 Neutral	$1.62B	2.36	41.79%	3.27%	1.21%	67.88%
WEN	57 Neutral	$1.35B	9.79	140.58%	8.15%	-0.21%	0.16%
BH	50 Neutral	$993.92M	-27.52	-6.72%	―	6.87%	-95.91%
PZZA	48 Neutral	$1.13B	42.31	-6.99%	4.72%	-0.64%	-60.71%
CNNE	47 Neutral	$502.16M	-1.73	-38.48%	3.45%	-6.86%	-56.65%
CBRL	45 Neutral	$612.64M	131.25	-0.90%	3.54%	-1.61%	-58.09%

Cannae Holdings Corporate Events

Cannae Holdings Ends Margin Loan, Streamlines Capital Structure

Cannae Holdings, Inc., through its special purpose subsidiary Cannae Funding A, terminated a margin loan facility that had been secured by more than 40 million shares of Alight, Inc. stock and allowed revolving borrowings of up to $50 million. The facility, originally established in November 2020 and amended multiple times, was prepaid and fully discharged on March 6, 2026, in response to limited borrowing capacity tied to Alight’s current trading levels and to eliminate commitment fees.

The payoff required only $58,681 of accrued commitment fees, as there were no outstanding principal or interest balances at the time, and the company reported that ending the facility does not materially affect its liquidity. All liens on the pledged Alight shares have been terminated, and Bank of America will return the remaining collateral to Cannae Funding A, reducing ongoing financing costs and simplifying Cannae’s capital structure without a significant impact on cash resources.

The most recent analyst rating on (CNNE) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Cannae Holdings stock, see the CNNE Stock Forecast page.

Cannae Holdings Elects New Directors at Annual Meeting

On October 30, 2025, Cannae Holdings held its Annual Meeting where 89.86% of the company’s common stock was represented. During the meeting, Barry B. Moullet, James B. Stallings, Jr., Mona Aboelnaga, and Chérie L. Schaible were elected as directors for a three-year term. The advisory vote on executive compensation was rejected, while the appointment of Grant Thornton LLP as independent accountants was ratified. An amendment to declassify the Board of Directors was approved, but a shareholder proposal to engage an investment banker was rejected.

The most recent analyst rating on (CNNE) stock is a Sell with a $16.50 price target. To see the full list of analyst forecasts on Cannae Holdings stock, see the CNNE Stock Forecast page.

Cannae Holdings Announces Preliminary Annual Meeting Results

On December 12, 2025, Cannae Holdings, Inc. announced the preliminary results of its 2025 Annual Meeting of Shareholders. The shareholders elected four new members to the Board of Directors and approved proposals to declassify the Board and ratify the appointment of the company’s auditor. However, they did not approve the advisory vote on executive compensation or a proposal to engage an investment banker. The results are preliminary until certified by the independent Inspector of Elections.

The most recent analyst rating on (CNNE) stock is a Sell with a $16.50 price target. To see the full list of analyst forecasts on Cannae Holdings stock, see the CNNE Stock Forecast page.