Cannae Holdings (CNNE)
NYSE:CNNE
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Cannae Holdings
(NYSE:CNNE)
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Rating:47Neutral
Price Target:
$12.00
▼(-3.77% Downside)
Action:ReiteratedDate: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.
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.
Read all positive and negative factors
Positive Factors
Negative 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.
Read all positive factors
Cannae Holdings (CNNE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$577.67M
Dividend Yield3.45%
Average Volume (3M)689.37K
Price to Earnings (P/E)―
Beta (1Y)0.93
Revenue Growth-6.86%
EPS Growth-56.65%
CountryUS
Employees7,317
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)-1.93
Shares Outstanding46,324,720
10 Day Avg. Volume599,835
30 Day Avg. Volume689,369
Financial Highlights & Ratios
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 Cap1.38
Enterprise Value/Revenue1.88
Enterprise Value/Gross Profit3.97K
Enterprise Value/Ebitda-4.36
Forecast
1Y Price Target
$16.00Price Target Upside28.31% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-1.86
Revenue Forecast (FY)$404.00M
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...
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 oper...
Cannae Holdings Earnings Call Summary
Earnings Call Date:Feb 23, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call presented a mix of meaningful strategic successes and near-term operational challenges. Positives include a major liquidity-generating sale (Dun & Bradstreet for $630 million), substantial capital returned to shareholders ($323 million buybacks and a 25% dividend increase), targeted investments to concentrate the portfolio in sports and entertainment, improved reporting and governance, and encouraging operating performance at Black Knight Football Club (on-field results, transfer proceeds, stadium expansion, and full ownership of FC Lorient). Lowlights center on declining revenues (Q4 down ~6%, full year down ~6.4%), a larger operating loss (up ~$15 million year-over-year), noncash impairments and nonrecurring charges (including proxy-contest fees), and below-the-line goodwill/mark-to-market losses (e.g., Alight). Overall, management is taking active strategic steps to address underperformance and redeploy capital; the strength of recent monetizations, capital returns and portfolio refocus were emphasized as outweighing near-term operating setbacks.Positive Updates
Large Portfolio Monetization — Dun & Bradstreet Sale
Sold Dun & Bradstreet to Clearlake Capital for total proceeds of $630 million to Cannae, providing significant liquidity to redeploy into higher-conviction opportunities.
Negative Updates
Decline in Operating Revenues
Total operating revenues were $103 million in Q4 2025, down 6% from $110 million in Q4 2024. Full year operating revenue declined to $424 million in 2025 from $453 million in 2024, a decrease of approximately 6.4% year-over-year.
Read all updates
Q4-2025 Updates
Positive
Negative
Large Portfolio Monetization — Dun & Bradstreet Sale
Sold Dun & Bradstreet to Clearlake Capital for total proceeds of $630 million to Cannae, providing significant liquidity to redeploy into higher-conviction opportunities.
Read all positive updates
Company Guidance
Cannae’s guidance centers on a strategic pivot to sports and entertainment alongside enhanced transparency and disciplined capital returns: management highlighted portfolio actions (sale of Dun & Bradstreet for $630M; realized $55M tax refund expected summer 2026), continued capital returns ($323M of buybacks in 2025 equal to 17.4M shares or ~28% of shares outstanding; dividend increased 25% to $0.15/quarter and $30M paid in 2025) and new investments ($50M into Black Knight Football Club; $67.5M into JANA to raise ownership from 20% to 50%; acquisition of the remaining 60% of FC Lorient for ~€60M). Operational disclosures will broaden starting this quarter (including a Black Knight overview deck), and the Board will pursue monetizations of non-core assets (strategic alternatives announced for the Restaurant Group) while prioritizing capital flexibility—maintaining a consistent quarterly dividend subject to availability and opportunistic repurchases. Financials cited as context: Q4 revenue $103M (down 6% y/y from $110M) and expenses $127M (including $12M noncash impairments; operating expenses ex-impairment down ≈$17M or 13%), Q4 equity losses of unconsolidated holdings $69M, full-year revenue $424M vs $453M in 2024, operating loss $119M (includes $24M nonrecurring management charges, $14M restaurant impairments and $5M proxy-related fees; operating expenses ex-these fell ≈27%). Year-end balance sheet showed >$1.3B total assets, $330M liabilities, corporate cash >$147M, and only $48M of fixed-rate, interest-only corporate debt maturing in over four years.Cannae Holdings Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
54
Neutral
Cash Flow
22
Negative
| 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
Neutral
12.47
Price Trends
12.34
Positive
14.01
Negative
16.39
Negative
Market Momentum
-0.02
Negative
59.46
Neutral
83.14
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNNE, the sentiment is Neutral. The current price of 12.47 is above the 20-day moving average (MA) of 11.43, above the 50-day MA of 12.34, and below the 200-day MA of 16.39, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 59.46 is Neutral, neither overbought nor oversold. The STOCH value of 83.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CNNE.
Cannae Holdings Risk Analysis
Cannae Holdings disclosed 34 risk factors in its most recent earnings report. Cannae Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cannae Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $1.80B | 7.29 | 32.50% | 3.27% | 1.21% | 67.88% | |
57 Neutral | $1.35B | 9.79 | 140.58% | 8.15% | -0.21% | 0.16% | |
50 Neutral | $1.06B | -27.52 | -6.72% | ― | 6.87% | -95.91% | |
48 Neutral | $1.17B | 42.31 | -6.99% | 4.72% | -0.64% | -60.71% | |
47 Neutral | $577.67M | -1.73 | -38.48% | 3.45% | -6.86% | -56.65% | |
45 Neutral | $664.72M | 131.25 | -0.90% | 3.54% | -1.61% | -58.09% |
* Consumer Cyclical Sector Average
CNNE
Cannae Holdings
12.47
-3.92
-23.90%
ARCO
Arcos Dorados Holdings
8.54
1.56
22.35%
BH
Biglari Holdings
327.30
117.62
56.10%
CBRL
Cracker Barrel
29.74
-10.54
-26.18%
PZZA
Papa John's International
35.53
5.09
16.71%
WEN
Wendy's
7.10
-4.94
-41.01%
Cannae Holdings Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Cannae Holdings Ends Margin Loan, Streamlines Capital Structure
Positive
Mar 9, 2026
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...
Executive/Board ChangesShareholder Meetings
Cannae Holdings Elects New Directors at Annual Meeting
Neutral
Dec 16, 2025
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 ...
Executive/Board ChangesShareholder Meetings
Cannae Holdings Announces Preliminary Annual Meeting Results
Neutral
Dec 12, 2025
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...
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.