CNO
CNO Financial Group, Inc.
CNO's fundamentals are mixed, but it looks expensive: trading at 13x earnings, above its usual 9.1x. Analysts expect earnings growth.
CNO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
CNO's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like CNO.
CNO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.5x | $28.30 | -51% |
| Fair | 9.1x | $39.72 | -31% |
| Forward | 11x | $57.44 | — |
| Current | 13x | $57.44 | — |
| Expensive | 15x | $66.35 | +16% |
Historical ranges are pointers, not guarantees.
CNO's PE is in its expensive range at 13x. If earnings grow as analysts expect, today's price would be 11x next year's earnings, in its fair range.
CNO Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect CNO's earnings to grow and its profitability to improve, with its revenue holding steady.
CNO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.03 | +15% |
| Q3 2026 | $4.38 | +53% |
| Q2 2026 | $2.91 | +7.4% |
| Q1 2026 | $2.49 | -13% |
| Q4 2025 | $2.23 | -40% |
| Q3 2025 | $2.86 | +15% |
| Q2 2025 | $2.71 | -30% |
| Q1 2025 | $2.86 | -17% |
| Q4 2024 | $3.74 | +55% |
CNO earned $4.38 per share over the past year, up 53% from the year before.
CNO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | -8.6% |
| Q2 2026 | $1.3B | +12% |
| Q1 2026 | $1B | +2.5% |
| Q4 2025 | $1.1B | +4.2% |
| Q3 2025 | $1.2B | +5.2% |
| Q2 2025 | $1.2B | +8% |
| Q1 2025 | $1B | -13% |
| Q4 2024 | $1.1B | -6.3% |
CNO's revenue grew through 2024 and has held roughly level since: $1.1B last quarter, down 8.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +6.6 points |
| Q2 2026 | 12% | +2 points |
| Q1 2026 | 13% | +2.2 points |
| Q4 2025 | 15% | -0.7 points |
| Q3 2025 | 14% | +0.1 points |
| Q2 2025 | 9.8% | -4.2 points |
| Q1 2025 | 10% | +4 points |
| Q4 2024 | 16% | +1.2 points |
CNO's operating margin was 20% last quarter, up 6.6 points from the same quarter a year ago, near the top of its range since 2019.
CNO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $242M | +22% |
| Q2 2026 | $156.6M | +7.6% |
| Q1 2026 | $148.8M | +8.9% |
| Q4 2025 | $195.7M | +2.5% |
| Q3 2025 | $197.8M | -14% |
| Q2 2025 | $145.5M | +31% |
| Q1 2025 | $136.7M | +45% |
| Q4 2024 | $191M | +8.1% |
CNO's free cash flow was $743M over the past year, up 11% from the year before. Free cash flow isn't a meaningful measure for financial services companies like CNO.
CNO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -699K shares |
| 1 year | -4.4% | -4.3M shares |
| 3 years | -18% | -20.2M shares |
| 5 years | -27% | -34.8M shares |
| Available history | -40% | -62.9M shares |
CNO has 94M diluted shares, down 4.4% from a year ago, with $254M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $59.5M |
| Q2 2026 | $60.9M |
| Q1 2026 | $73.3M |
| Q4 2025 | $60.2M |
| Q3 2025 | $60.6M |
| Q2 2025 | $100.3M |
| Q1 2025 | $110.3M |
| Q4 2024 | $91.7M |
CNO spent $254M buying back its own shares over the past year, down 30% from the year before.
CNO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.4x | Net Cash |
| Q2 2026 | -1.4x | Net Cash |
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -1.1x | Net Cash |
| Q3 2025 | -1.4x | Net Cash |
| Q2 2025 | -1.0x | Net Cash |
| Q1 2025 | -1.2x | Net Cash |
| Q4 2024 | -2.4x | Net Cash |
CNO has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like CNO.
CNO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.3 | Neutral |
| Stochastic | 74.8 | Neutral |
CNO's weekly RSI is 63 (neutral) and its Stochastic is 75 (neutral).
CNO PE vs Financial Services Sector
| Metric | CNO | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 0.7% above |
| PE % | 72 | 63 | 9 pts above |
CNO is trading at 13x earnings, in line with the Financial Services sector's median of 13x.
CNO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $55.0 | 4.5% above |
| 20 week MA | $54.6 | 5.2% above |
| 50 week MA | $48.1 | 19% above |
| 100 week MA | $43.5 | 32% above |
| 200 week MA | $35.4 | 62% above |
CNO is in an uptrend: it's above all five of its weekly moving averages, and 62% above its 200-week average.
CNO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.2 | $22.8 | +25% |
| 2021 | $22.8 | $24.0 | +5% |
| 2022 | $24.0 | $22.9 | -4.6% |
| 2023 | $22.9 | $27.9 | +22% |
| 2024 | $27.9 | $37.3 | +34% |
| 2025 | $37.3 | $43.3 | +16% |
| 2026 YTD | $43.3 | $57.4 | +33% |
CNO has finished higher in five of the last six years. It's up 33% so far in 2026.