Cna Financial Corp

Finance
Property-Casualty Insurers
www.cna.com

Earnings Score
Moat Score
Safety Score

Market Cap $13.37B
PE 10
Debt $2.97B
Cash $456.00M
EV $15.89B
FCF $2.31B

Earnings

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Sales & Net Margins

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Earnings	$1.31B
EBIT	$1.65B
ROE	12%
ROA	2%
FCF	$2.31B
Equity	$10.76B
Growth Stability	76%
PE	10.25
PEG	0.79
PB	1.24
P/FCF	5.79
P/S	0.95
Price/Cash	0.03
Debt/Equity	0.28
Debt/FCF	1.29
Net Margins	9%
Op. Margins	12%
Earnings CAGR	8%
Sales Growth YoY	8%
Sales Growth QoQ	3%
Sales CAGR	5%
FCF CAGR	10%
Equity CAGR	-3%
Earnings Stability	0.34
Earnings Growth YoY	10%
Earnings Growth QoQ	-11%

Earnings CAGR 5Y	13%
Sales CAGR 5Y	6%
FCF CAGR 5Y	16%
Equity CAGR 5Y	-6%
Earnings CAGR 3Y	7%
Sales CAGR 3Y	7%
FCF CAGR 3Y	-1%
Equity CAGR 3Y	-2%
Market Cap	$13.37B
Revenue	$14.09B
Dividend Yield	8%
Payout Ratio	78%
Assets	$67.36B
Total Debt	$2.97B
Cash	$456.00M
Shares Outstanding	270.84M
EV	15.89B
Earnings Score	17%
Moat Score	68%
Safety Score	93%
Final Score	60%
Shares Growth 3y	-0%
Equity Growth QoQ	9%
Equity Growth YoY	26%

Assets & ROA

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Stockholders Equity & ROE

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CNA Financial Corporation (CNAF) is an insurance holding company that provides commercial property and casualty insurance. The company operates under five segments: Specialty, Commercial and International being its core business and two segments for its non-core businesses, which are Life & Group and Corporate & Other. CNAF, through its segments, provides professional, financial, specialty property and casualty products to small businesses and medium scale organizations. It has its business spread across Continental Europe, United Kingdom, and Canada. The majority of the revenues are generated from the Specialty and Commercial segment of the business.

SEC Filings

Direct access to Cna Financial Corp (CNA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Cna Financial Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Cna Financial Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 8%

Stability 34%

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Cna Financial Corp Discounted Cash Flow

Fully customizable DCF calculator online for Cna Financial Corp.

Years

Calculation mode

= $47B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2.3B	$2.5B	$2.8B	$3.1B	$3.4B	$3.8B	$4.2B	$4.6B	$5.1B	$5.6B	$6.2B	$62B
DCF		$2.3B	$2.3B	$2.3B	$2.3B	$2.3B	$2.4B	$2.4B	$2.4B	$2.4B	$2.4B	$24B
Value	$47B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	7%	5%	9%	9%	8%	9%	6%	10%	8%	9%	9%
ROA	-	1%	2%	2%	2%	2%	1%	2%	2%	2%	2%
ROE	-	4%	7%	7%	7%	8%	5%	9%	10%	12%	12%

Net Margins (8.86%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	2.31	2.13	2.61	2.38	2.4	1.58	1.41	1.23	1.63	1.29
Debt over Equity	0.2	0.25	0.23	0.25	0.24	0.22	0.22	0.22	0.34	0.36	0.28
Growth Stability	-	-	-	100%	100%	100%	76%	100%	93%	100%	76%

Good Debt/FCF ratio (1.29)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.28)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (76%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-6%	3%	2%	6%	6%	0%	10%	-0%	12%	6%
Earnings YoY growth	-	-31%	79%	5%	-10%	23%	-31%	74%	-26%	35%	13%
Equity YoY growth	-	-8%	2%	2%	-8%	9%	4%	1%	-31%	12%	-6%
FCF YoY growth	-	-8%	1%	-9%	-2%	-1%	57%	13%	24%	-10%	16%