Fundamentals Hub
▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
In fiscal 2025, CNA FINANCIAL CORP recorded $14.99B of revenue, net income of $1.28B, and an operating cash inflow of $2.49B. At $14.99B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 5.0% from $14.27B in fiscal 2024, increasing the company’s operating scale. Diluted earnings per share were $4.69, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 33.2% increase from fiscal 2024 diluted EPS of $3.52. The diluted weighted-average share count was 272.40M, linking total earnings with the per-share result received by shareholders. The company employed $69.44B of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.22x, showing the sales generated relative to the resources carried on the balance sheet.Profitability
After all reported below-operating-line items, the company recorded net income of $1.28B for the fiscal year. The final earnings result represented 8.5% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $1.62B of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 10.8% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $342.00M of income tax for the period, completing the transition from pretax income to net income. Relative to pretax income, the tax provision measured 21.1%, quantifying the portion of pre-tax earnings paid in income tax. The relationship between net income and period-end equity was 11.0%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 1.8%, showing earnings relative to the full balance sheet. Against $959.00M in fiscal 2024, the current $1.28B bottom line finished above the prior-year result in absolute terms.Liquidity and Capital Structure
Total assets were $69.44B, supported by $57.82B of liabilities and $11.62B of shareholder equity. The company held $425.00M in cash and equivalents, a narrower liquidity measure than total current assets. Total debt was $2.97B, establishing the amount of borrowing carried within the company’s capital structure. Debt equaled 0.26x of book equity, describing the relative scale of borrowing and shareholder capital. The debt-to-assets relationship was 4.3%, comparing borrowing with the total asset balance. The equity-to-assets relationship was 16.7%, placing book capital against the total resource base. The liabilities-to-assets relationship was 83.3%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 0.6% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $66.49B in fiscal 2024, the current asset base moved 4.4% and finished higher. Reported equity changed 10.5% from $10.51B in fiscal 2024, placing the current capital base higher year over year. Compared with $472.00M in fiscal 2024, the current cash balance moved 10.0% and finished lower.Cash Flow and Earnings Quality
The company reported $2.49B of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.95x, comparing cash generated by operations with the bottom-line earnings result. Capital spending was $86.00M, absorbing part of the cash generated from operations before free cash flow. Capital expenditures represented 3.5% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $2.40B of positive free cash flow for the period. Free cash flow represented 16.0% of revenue, linking post-investment cash generation with the company’s operating scale. Free cash flow equaled 3.5% of total assets, relating post-investment cash generation to the company’s resource base.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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