CNO Financial Group, Inc.
CNO Financial Group, Inc. operates as a multiline insurance and broker provider, generating revenue through life insurance, annuities, and health products within the Financials sector.
Business. CNO Financial Group, Inc. (NYSE: CNO) is a financial services company operating in the Life & Health Insurance industry. The firm primarily engages in the sale of life and health insurance products. Specific details regarding its operating segments and geographic presence are not provided in the available data. The company is headquartered in the United States and is listed on the New York Stock Exchange.
Analyst recommendations
6 analysts · consensus HoldAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
- Congressional trades
- CongressLisa McClain — CNO Financial Group, Inc. Common2025-06-11 · Republican · MI · Sale · $1,001 - $15,000
- CongressLisa McClain — CNO Financial Group, Inc. Common2025-06-09 · Republican · MI · Purchase · $1,001 - $15,000
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
CNO Financial Group, Inc. (NYSE: CNO) is a financial services company operating in the Life & Health Insurance industry. The firm primarily engages in the sale of life and health insurance products. Specific details regarding its operating segments and geographic presence are not provided in the available data. The company is headquartered in the United States and is listed on the New York Stock Exchange.
CNO Financial Group maintains a capital structure characterized by zero reported debt-to-equity, resulting in a leverage-free balance sheet profile. Total assets stand at $38.96 billion against total liabilities of $36.47 billion, yielding total equity of $2.50 billion. The company holds a current ratio that is not explicitly quantified in the snapshot but operates with $148.8 million in operating cash flow for the period. Liquidity risk is flagged as unknown due to insufficient balance-sheet inputs for precise assessment, though the absence of debt suggests low immediate solvency pressure.
Profitability metrics indicate a return on equity of 9.18% and a return on assets of 0.59% for the latest period. The price-to-earnings ratio is 22.47, while the price-to-book and price-to-tangible-book ratios both stand at 2.12. Operating income reached $129.9 million on revenue of $1.03 billion, resulting in net income of $37.7 million. These returns are evaluated against cohort medians which are not provided in the input data, preventing direct comparative analysis of margin efficiency or capital productivity relative to peers.
- Zero debt-to-equity ratio provides a strong balance sheet foundation but may indicate under-leveraged capital efficiency.
- Medium dilution risk is flagged due to potential offering activities or equity-based compensation structures.
- Recent $5.2 million impairment charge reflects strategic exit from the Worksite fee services business.
- Analyst consensus is neutral with a median price target near the current trading price, suggesting limited near-term upside expectations.
- Significant exposure to interest rate risk and regulatory changes in health insurance pricing and dividend approvals.
Bull / Bear case
Generated · model-assistedCNO Financial Group generated $4.49 billion in FY2024 revenue, demonstrating substantial top-line scale within the life and health insurance sector.
Net margin of 5.11% in FY2025 exceeded the cohort median, suggesting effective cost management despite fluctuating net income levels.
Revenue declined 12.8% year-over-year in FY2025, indicating a contraction in top-line growth and potential market share loss.
The company carries a high leverage band with a debt-to-equity ratio of 13.70, increasing financial risk and sensitivity to interest rates.
Interest coverage ratio of 2.40 suggests limited buffer for debt servicing, exposing the firm to potential liquidity constraints during downturns.
Medium dilution risk flags potential equity value erosion, threatening existing shareholder ownership percentages and per-share earnings metrics.
In focus — financials by report
Revenue $1.03B; Operating income $129.9M.
- ▍Revenue $1.03B
- ▍Operating income $129.9M
- ▍Net margin 3.7%
Revenue $3.34B; Operating income $379.7M.
- ▍Revenue $3.34B
- ▍Operating income $379.7M
- ▍Net margin 4.1%
Revenue $4.49B; Operating income $553.2M.
- ▍Revenue $4.49B
- ▍Operating income $553.2M
- ▍Net margin 5.1%
Revenue $1.19B; Net margin 1.9%.
- ▍Revenue $1.19B
- ▍Net margin 1.9%
Revenue $1.15B; Net margin 8.0%.
- ▍Revenue $1.15B
- ▍Net margin 8.0%
Revenue $1.00B; Net margin 2.1%.
- ▍Revenue $1.00B
- ▍Net margin 2.1%
Revenue $4.45B; Operating income $550.8M.
- ▍Revenue $4.45B
- ▍Operating income $550.8M
- ▍Net margin 9.1%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- Director, Chief Executive Officer · Employee Stock Option (Right to Buy) → Common StockDisposed 44 250 @ $21,06exercise · 2026-06-30
- Chief Marketing Officer · Employee Stock Option (Right to Buy) → Common StockDisposed 5 750 @ $21,06exercise · 2026-06-11
- President, Consumer Division · Employee Stock Option (Right to Buy) → Common StockDisposed 11 060 @ $21,06exercise · 2026-03-20
- President, Consumer Division · Employee Stock Option (Right to Buy) → Common StockDisposed 22 120 @ $21,06exercise · 2026-03-19
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Cash Conversion Ratiooperating_cash_flow / net_income
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Return On Equitynet_income / total_equity
- Market Capmarket_price * shares_outstanding_diluted
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- CNO Financial Group, Inc. company facts · 2026-08-01
- CNO Financial Group, Inc. 10-Q 2026-05-07 · 2026-08-01
- CNO Financial Group, Inc. 10-K 2026-02-24 · 2026-08-01
- CNO Financial Group, Inc. 10-Q 2025-11-06 · 2026-08-01
- CNO Financial Group, Inc. 10-Q 2025-08-06 · 2026-08-01
- 8-K (sec_8k_material) on CNO · 2026-08-01
- CNO Financial Group Inc Market data — analyst estimates · 2026-08-01
- CNO Financial Group Inc Market data — ESG · 2026-08-01
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,08 %$147M
- Investment Managers · as of 2026-03-310,04 %$161M
- Investment Managers · as of 2026-03-310,03 %$61M
- Investment Managers · as of 2026-03-310,03 %$139M
- Investment Managers · as of 2026-03-310,03 %$62M
- Investment Managers · as of 2026-03-310,02 %$24M
- Investment Managers · as of 2024-06-300,01 %$406M
- Investment Managers · as of 2026-03-310,01 %$61M
- Investment Managers · as of 2025-12-310,01 %$495M
- Institutional Investor · as of 2026-03-310,01 %$37M
- Investment Managers · as of 2026-03-310,01 %$44M
- Investment Managers · as of 2026-03-310,01 %$50M
- Investment Managers · as of 2026-03-310,01 %$103M
- Investment Managers · as of 2024-12-310,01 %$22M
- Investment Managers · as of 2026-03-310,01 %$165M
- Institutional Investor · as of 2026-03-310,00 %$19M
- Investment Managers · as of 2026-03-310,00 %$71M
- Funds · as of 2026-03-310,00 %$20M
- Investment Managers · as of 2026-03-310,00 %$8M
- Institutional Investor · as of 2026-03-310,00 %$40M
- Investment Managers · as of 2026-03-310,00 %$3M
- Institutional Investor · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$3M
- Brokerage Firms · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$2M
- Brokerage Firms · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
Insider activity
- Chief Marketing Officer · Common StockSold 1 891 @ $51,31$97K · 2026-07-01
- Director, Chief Executive Officer · Common StockOther 44 250 @ $21,06$932K · 2026-06-30
- Director, Chief Executive Officer · Common StockSold 41 798 @ $51,48$2,2M · 2026-06-30
- Director, Chief Executive Officer · Common StockSold 44 250 @ $51,48$2,3M · 2026-06-30
- Chief Marketing Officer · Common StockOther 5 750 @ $21,06$121K · 2026-06-11
- Chief Marketing Officer · Common StockSold 5 750 @ $50,00$288K · 2026-06-11
- Chief Marketing Officer · Common StockSold 3 308 @ $49,00$162K · 2026-06-10
- President, Consumer Division · Common StockOther 396 @ $47,12$19K · 2026-06-04
- Chief Marketing Officer · Common StockSold 4 808 @ $47,00$226K · 2026-06-02
- Director · Common StockOther 3 574 @ $46,17$165K · 2026-05-12
- Director · Common StockOther 3 574 @ $46,17$165K · 2026-05-12
- Director · Common StockOther 3 574 @ $46,17$165K · 2026-05-12
- Director · Common StockOther 6 043 @ $46,17$279K · 2026-05-12
- Director · Common StockOther 3 574 @ $46,17$165K · 2026-05-12
- Director · Common StockOther 3 574 @ $46,17$165K · 2026-05-12
- Director · Common StockOther 3 574 @ $46,17$165K · 2026-05-12
- Director · Common StockOther 3 574 @ $46,17$165K · 2026-05-12
- President, Worksite Division · Common StockOther 4 400 · 2026-05-11
- Chief Financial Officer · Common StockOther 13 063 @ $40,61$530K · 2026-03-25
- Chief Accounting Officer · Common StockOther 202 @ $40,61$8K · 2026-03-25
- General Counsel · Common StockOther 7 481 @ $40,61$304K · 2026-03-25
- Chief Actuary · Common StockOther 1 005 @ $40,61$41K · 2026-03-25
- Chief Marketing Officer · Common StockOther 4 141 @ $40,61$168K · 2026-03-25
- Chief Information Officer · Common StockOther 1 953 @ $40,61$79K · 2026-03-25
- Chief Operations Officer · Common StockOther 1 649 @ $40,61$67K · 2026-03-25
Short positioning
Geographic breakdown
Intel & risk
no material change vs prior analysis (walked 17 fields; 4 schema-expansion field(s) excluded)
- Narrative— → —medium
- Business summary— → —medium
- Conclusion— → —medium
- Key takeaways— → —medium
- Company share pct— → —medium
Evidence & claims
From filings & derived data- EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): -40.7%Derived (calculated)
- Revenue (YoY) (2025-12-31 vs 2024-12-31): 0.9%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): -40.9%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): -45.5%Derived (calculated)
- Return on assets (FY 2025-12-31): 0.6%Derived (calculated)
- Return on equity (FY 2025-12-31): 8.7%Derived (calculated)
- Net margin (FY 2025-12-31): 5.1%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 7.6%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): 2.3%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): 2.5%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): 0.4%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 4.9%Derived (calculated)
- Debt-to-equity (FY 2025-12-31): 13.70xDerived (calculated)
- Shareholders' equity (annual): USD 2.64BSEC XBRL filing
- Net income (annual): USD 229.3MSEC XBRL filing
- Revenue (annual): USD 4.49BSEC XBRL filing
- Pre-tax income (annual): USD 293.4MSEC XBRL filing
- Shares outstanding (annual): 94.48MSEC XBRL filing
- Total assets (annual): USD 38.79BSEC XBRL filing
- Operating income (annual): USD 553.2MSEC XBRL filing
- EPS (diluted) (annual): USD-PER-SHARES 2SEC XBRL filing
- Interest expense (annual): USD 230.9MSEC XBRL filing
- EPS (basic) (annual): USD-PER-SHARES 2SEC XBRL filing
- Total liabilities (annual): USD 36.15BSEC XBRL filing