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CNO

CNO Financial Group, Inc.

CNO

CNO Financial Group, Inc. • NYSE
$40.93 ▼ -0.61% (-0.25)
Market Cap $3.90 B
52w High $43.20
52w Low $34.63
Dividend Yield 0.66%
P/E 14.02
Volume 268.21K
Outstanding Shares 95.35M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.189B ▲ $423.7M ▲ $23.1M ▼ 1.943% ▼ $0.002 ▼ $172.9M ▼
Q2-2025 $1.151B ▲ $330.2M ▼ $91.8M ▲ 7.972% ▲ $0.91 ▲ $255.9M ▲
Q1-2025 $1.004B ▼ $335.8M ▲ $13.7M ▼ 1.364% ▼ $0.14 ▼ $157.5M ▼
Q4-2024 $1.097B ▼ $318.4M ▼ $166.1M ▲ 15.139% ▲ $1.62 ▲ $348.6M ▲
Q3-2024 $1.129B $337.1M $9.3M 0.823% $0.088 $153.4M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $8.599B ▲ $38.296B ▲ $35.685B ▲ $2.611B ▲
Q2-2025 $8.253B ▼ $37.329B ▼ $34.806B ▼ $2.523B ▼
Q1-2025 $8.84B ▼ $37.436B ▼ $34.906B ▼ $2.53B ▲
Q4-2024 $9.451B ▲ $37.853B ▲ $35.354B ▲ $2.498B ▼
Q3-2024 $9.189B $37.645B $34.958B $2.688B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $23.1M ▼ $197.8M ▲ $-106.1M ▲ $333.9M ▲ $425.6M ▲ $197.8M ▲
Q2-2025 $99.6M ▲ $145.5M ▲ $-122.2M ▲ $-232.1M ▲ $-208.8M ▲ $145.5M ▲
Q1-2025 $13.7M ▼ $136.7M ▼ $-538.2M ▼ $-571.4M ▼ $-972.9M ▼ $136.7M ▼
Q4-2024 $166.1M ▲ $191M ▼ $-151.2M ▲ $712.6M ▲ $752.4M ▲ $191M ▼
Q3-2024 $9.3M $231.2M $-167.9M $189.9M $253.2M $231.2M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Insurance Product Lines Segment
Insurance Product Lines Segment
 $480.00M ▲$960.00M ▲$490.00M ▼$490.00M ▲

Five-Year Company Overview

Income Statement

Income Statement CNO’s revenue trend over the past few years is generally upward, showing a business that is slowly but steadily growing its top line. Operating profits have been positive throughout, suggesting the core insurance and related activities are consistently generating earnings. Net income has been more uneven, with some years noticeably stronger than others, reflecting the normal volatility of an insurance business that is exposed to claims experience, interest rates, and investment results. Overall, profitability looks solid but not smooth, with evidence of ongoing efficiency gains and decent cost control, but also year‑to‑year swings that investors in insurers should expect.

Balance Sheet

Balance Sheet The balance sheet shows a gradual expansion of the overall business, with total assets edging higher over time. Cash levels have improved meaningfully from very low levels a few years ago, which gives CNO more flexibility and a better cushion. Debt has crept up but not in a dramatic way, so leverage appears manageable, though it is something to watch in a rising-rate or stressed environment. Equity dropped sharply a few years back and has been rebuilding since then, which hints at past hits from markets, actuarial adjustments, or capital returns, followed by a recovery phase. In simple terms, the balance sheet looks reasonably solid but carries the usual insurance sensitivity to markets and assumptions.

Cash Flow

Cash Flow CNO’s cash generation is a clear strength. Operating cash flow has been positive and fairly steady for several years, indicating that the underlying insurance operations are reliably bringing in cash. Capital spending is minimal, which is typical for a service-heavy, asset-light financial firm, so most of that operating cash is effectively free for debt service, dividends, buybacks, or reinvestment in the business. The pattern points to a business model that converts accounting profits into actual cash reasonably well, with no obvious signs of cash strain over this period.

Competitive Edge

Competitive Edge CNO focuses on middle-income Americans, especially those near or in retirement, which is a segment often overlooked by larger insurers. This narrow focus gives the company deep knowledge of its target customers and allows it to tailor products and service to their specific needs. Its hybrid distribution model—career agents, independent producers, and direct-to-consumer channels—provides both personal, face-to-face advice and convenient digital access, which is hard for some rivals to match at scale. The use of multiple brands helps CNO reach different sub-groups within its niche. Altogether, this creates a defensible position in its chosen slice of the life and health insurance market, though it still faces competition from large national insurers and regional players.

Innovation and R&D

Innovation and R&D CNO is leaning into digital transformation rather than standing still. It is partnering with a major technology firm to use cloud services and artificial intelligence to streamline back-office work, claims, and customer service. The company is also investing in automation tools to reduce manual processes and improve speed and accuracy. Consumer-facing platforms like its online Medicare marketplace show a push to meet customers where they are—online, by phone, or through agents—with a more seamless experience. On the product side, offerings like its integrated worksite benefits platform and tailored middle-market life and health products signal ongoing innovation in how it packages and delivers coverage. The overall picture is of a traditionally conservative insurer that is actively modernizing its systems and customer journey rather than simply relying on legacy approaches.

Summary

CNO looks like a mature insurer that has been steadily growing revenue and maintaining positive profitability, albeit with the usual earnings bumps that come with the insurance business. Its balance sheet is broadly sound, with improving cash, manageable debt, and a recovering equity base, though still exposed to market and actuarial swings. Cash flows are consistently positive and capital needs are modest, which is attractive for a financial company. Strategically, CNO’s tight focus on middle-income consumers, multi-channel distribution, and well-known brands provide a clear niche in a crowded industry. At the same time, its efforts in digital tools, AI, and new product platforms suggest a company trying to keep pace with, and potentially benefit from, ongoing industry change. The key watchpoints are earnings volatility, sensitivity to economic and market conditions, and execution risk around its technology and strategic shifts, while the main strengths lie in dependable cash generation, a defined customer segment, and active modernization efforts.

NEWS

November 12, 2025 · 4:30 PM UTC

CNO Financial Group Declares $0.17 Quarterly Dividend

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November 8, 2025 · 4:30 PM UTC

Monumental Milestones at the 2025 CNO Financial Indianapolis Monumental Marathon

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November 3, 2025 · 4:15 PM UTC

CNO Financial Group Reports Third Quarter 2025 Results

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October 14, 2025 · 4:15 PM UTC

CNO Financial Group to Release Third Quarter Results on November 3, 2025

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October 1, 2025 · 9:15 AM UTC

Optavise and Rula Partner to Improve Workforce Access to Mental Health Services

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