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US commercial property-casualty insurer, majority-owned by Loews, serving mid-size and large businesses through independent agents/brokers.
US commercial property-casualty insurer, majority-owned by Loews, serving mid-size and large businesses through independent agents/brokers.
Earns an underwriting profit when premiums on business insurance exceed claims and costs, plus investment returns on a large bond portfolio, sold through independent agents and brokers. It also carries a closed book of older long-term care policies, no longer sold, whose claims run for decades.
Moat: narrow (distribution, scale). Long broker relationships and Loews's capital backing support underwriting through cycles.
Headquarters: Chicago, Illinois, US · Founded: 1897 · Employees: 6,600
Size CNA Financial (CNA) is a United States Financials company (Multi-Line Insurance) with a market value of $12.8B, the 668th largest of 3,117 United States companies the cockpit tracks. Shares closed at $47.32 on 6 Nov 2026.
Performance Over six months the shares gained 8.7%, against +8.8% for the median peer and -1.1% for the United States market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 2.0% over the last twelve months (peer median +7.2%); the operating margin is 9.4% (peer median 14.1%).
Valuation It trades at 1.25× book value against a peer median of 1.68× (6th cheapest of 21).
Price implies The share price implies a return on equity of about 7.2%; CNA Financial delivers 9.6%, so the price asks less than the business earns today.
Credit CNA Financial has 6 bonds outstanding ($3.00B), rated A- by the agencies and trading like BBB at a weighted spread of 97 bp.
Short interest Short interest is 1.5% of the free float (15 Oct 2026).
Next results Next results expected around 8 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $15.2B | $15.0B | $14.3B | $13.3B | $11.9B |
| Revenue growth | — | +5% | +7% | +12% | — |
| Net income | $1.03B | $1.28B | $959M | $1.21B | $682M |
| Free cash flow | $2.19B | $2.40B | $2.48B | $2.19B | $2.45B |
| Capital expenditure | $81.0M | $86.0M | $95.0M | $90.0M | $52.0M |
| Total debt | $2.97B | $3.19B | $3.21B | $3.25B | $3.00B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| CNA Financial CNA | $12.8B | +9% | +2% | 10% | 1.25× | 7.2% |
| Travelers Companies (The) TRV | $81.0B | +33% | +1% | 28% | 2.79× | 13.9% |
| Hartford (The) HIG | $35.8B | +1% | +4% | 23% | 1.94× | 11.3% |
| Chubb CB | $139B | +15% | +6% | 15% | 1.91× | 9.4% |
| W. R. Berkley WRB | $27.9B | +16% | +1% | 19% | 2.91× | 12.8% |
| Old Republic International ORI | $9.50B | +1% | +11% | 18% | 1.62× | 10.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CNA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.4% | +1.9% | 10th lowest of 21 |
| 6-month return | +8.7% | +8.8% | 11th highest of 21 |
| Return on equity | 9.6% | 16.7% | 3rd lowest of 21 |
| Price / book | 1.25× | 1.68× | 6th cheapest of 21 |
| Trailing P/E | 12.5× | 10.7× | 9th most expensive of 20 |
| ROE the price implies | 7.2% | 10.9% | 2nd least demanding of 21 |
| ROE delivered | 9.6% | 16.6% | 3rd lowest of 20 |
| Bond spread | 97 bp | 80 bp | 4th widest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| CNA Financial CNA | United States | $12.8B | +9% | +2% | 10% | 1.25× | 7.2% | 9.6% |
| Aegon AGN.AS | Netherlands | $12.7B | +4% | +16% | 10% | 1.25× | 8.2% | 10.5% |
| Unum UNM | United States | $12.2B | -5% | -5% | 3% | 1.52× | 8.1% | 2.6% |
| Globe Life GL | United States | $12.1B | +4% | +6% | 21% | 2.08× | 11.7% | n/a |
| Mapfre MAP.MC | Spain | $14.1B | -2% | +5% | 12% | 1.26× | 8.4% | 12.4% |
| Aditya Birla Capital ABCAPITAL.NS | India | $11.5B | +8% | +24% | 12% | 2.56× | 41.9% | 12.1% |
| Gjensidige Forsikring GJF.OL | Norway | $14.7B | +9% | +7% | 30% | 5.73× | 19.1% | 29.9% |
| Suncorp SUN.AX | Australia | $14.9B | +21% | -3% | 10% | 2.08× | 11.7% | 9.8% |
| Brookfield Wealth Solutions BNT.TO | Canada | $14.9B | -8% | -18% | 1% | 0.70× | 9.4% | 0.7% |
| Powszechny Zaklad Ubezpieczen Spolka Akcyjna PZU.WA | Poland | $16.1B | +15% | +1% | 20% | 1.83× | 19.5% | 19.5% |
| ASR Nederland ASRNL.AS | Netherlands | $17.3B | +14% | +6% | 13% | 1.74× | 8.3% | 13.1% |
| Kinsale Capital KNSL | United States | $8.64B | +26% | +8% | 28% | 4.70× | 30.6% | 27.8% |
| China Taiping Insurance 0966.HK | Hong Kong | $8.28B | -24% | +19% | 36% | 0.63× | 8.1% | 36.2% |
| Hiscox HSX.L | United Kingdom | $8.08B | +18% | +4% | 17% | 2.06× | 15.1% | 16.6% |
| Lincoln National LNC | United States | $7.67B | +12% | +12% | 23% | 0.74× | 8.6% | 22.6% |
| New China Life Insurance 1336.HK | Hong Kong | $21.5B | -24% | +44% | 42% | 0.87× | 10.3% | 42.3% |
| Axis Capital AXS | United States | $7.60B | +7% | +10% | 16% | 1.33× | 8.1% | 16.0% |
| Legal & General LGEN.L | United Kingdom | $21.9B | +24% | +137% | 26% | 7.73× | 70.7% | 26.2% |
| Great Eastern G07.SI | Singapore | $7.47B | +21% | +27% | 15% | 1.73× | 11.4% | 14.8% |
| Db Insurance 005830.KS | South Korea | $6.90B | +2% | -14% | 17% | 0.85× | 5.1% | 17.0% |
| Unipol Assicurazioni UNI.MI | Italy | $23.8B | +13% | +7% | 17% | 1.62× | 14.9% | 16.9% |
CNA Financial has 6 bonds outstanding with $3.00B face value. The agencies rate it A-; its bonds trade like BBB. Weighted yield 5.62%, a spread of 97 bp over government bonds.