Explain this page
Arphra AIPlain-English read on CNA Financial Corporation’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Headline | |||||||
| Market cap | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — |
| Multiples | |||||||
| P / E | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — |
| Yields | |||||||
| Earnings yield | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin | +32.32% | +31.52% | +33.62% | +31.88% | +30.73% | +32.02% | +31.46% |
| Operating margin | +12.66% | +6.85% | +11.57% | +8.65% | +11.01% | +10.26% | +10.42% |
| EBITDA margin | +14.11% | +8.22% | +13.09% | +10.08% | +12.40% | +11.66% | +11.84% |
| EBIT margin | +13.64% | +7.79% | +12.53% | +9.60% | +11.93% | +11.46% | +11.34% |
| Pre-tax margin | +12.66% | +6.85% | +11.57% | +8.65% | +11.01% | +10.11% | +10.60% |
| Net margin | +10.25% | +5.74% | +9.18% | +6.85% | +8.69% | +8.45% | +8.07% |
| Cost structure | |||||||
| Cost of revenue / sales | +67.68% | +68.48% | +66.38% | +68.12% | +69.27% | +68.47% | +67.60% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Effective tax rate | +19.02% | +16.22% | +20.62% | +20.81% | +21.11% | +20.98% | +20.72% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| Return on equity (ROE) | +9.24% | +7.98% | +12.18% | +9.12% | +11.00% | +10.94% | +10.50% |
| Return on assets (ROA) | +1.92% | +1.22% | +2.02% | +1.58% | +2.01% | +1.90% | +1.85% |
| Return on capital (ROC) | +9.23% | +7.05% | +11.55% | +8.82% | +10.94% | +10.22% | +10.39% |
| Return on invested capital (ROIC) | +7.48% | +5.91% | +9.17% | +6.99% | +8.63% | +8.43% | +8.04% |
| Asset turnover | +18.72% | +21.31% | +22.04% | +23.02% | +23.17% | +22.53% | +22.93% |
| DuPont · ROE decomposition | |||||||
| Net margin | +10.25% | +5.74% | +9.18% | +6.85% | +8.69% | +8.45% | +8.07% |
| Asset turnover (× revenue / assets) | +18.72% | +21.31% | +22.04% | +23.02% | +23.17% | +22.53% | +22.93% |
| Equity multiplier (× assets / equity) | +481.60% | +652.71% | +602.04% | +578.45% | +546.49% | +574.56% | +567.76% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Turnover | |||||||
| Asset turnover | 0.19 | 0.21 | 0.22 | 0.23 | 0.23 | 0.23 | 0.23 |
| Fixed-asset turnover | 28.79 | 31.21 | 33.40 | 30.90 | 34.22 | — | — |
| Inventory turnover | — | — | — | — | — | — | — |
| Receivables turnover | 3.92 | 3.77 | 3.81 | 3.81 | 3.94 | — | — |
| Payables turnover | — | — | — | — | — | — | — |
| Days outstanding | |||||||
| Days sales outstanding (DSO) | 93.10 | 96.94 | 95.72 | 95.72 | 92.76 | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | — | — | — | — | — | — | — |
| Cash conversion cycle | 93.10 | 96.94 | 95.72 | 95.72 | 92.76 | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.69 | 3.67 | 1.90 | 2.68 | 1.95 | 2.09 | 2.24 |
| FCF / Net income | 1.66 | 3.59 | 1.82 | 2.58 | 1.88 | 1.98 | 2.04 |
| FCF margin | +17.07% | +20.60% | +16.72% | +17.69% | +16.34% | +16.75% | +16.45% |
| OCF margin | +17.30% | +21.04% | +17.41% | +18.37% | +16.92% | +17.66% | +18.09% |
| CapEx / Revenue | +0.23% | +0.44% | +0.69% | +0.68% | +0.58% | +0.67% | +0.65% |
| CapEx / D&A | 0.48 | 1.02 | 1.23 | 1.42 | 1.23 | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| EPS · diluted | 4.41 | 2.50 | 4.43 | 3.52 | 4.69 | 4.03 | 4.78 |
| EPS · basic | 4.42 | 2.51 | 4.44 | 3.53 | 4.71 | 4.04 | 4.74 |
| Book value / share | 46.95 | 31.37 | 36.34 | 38.55 | 42.68 | 33.76 | 40.65 |
| Tangible BV / share | 46.17 | 30.84 | 35.52 | 37.74 | 42.13 | 33.76 | 40.65 |
| Sales / share | 42.32 | 43.64 | 48.22 | 51.33 | 54.03 | 43.70 | 52.91 |
| Operating CF / share | 7.32 | 9.18 | 8.39 | 9.43 | 9.14 | 7.72 | 9.57 |
| Free cash flow / share | 7.23 | 8.99 | 8.06 | 9.08 | 8.83 | 7.32 | 8.70 |
| Dividends / share | 2.28 | 3.60 | 2.89 | 3.76 | 3.85 | 2.96 | 3.55 |
| Payout ratio | +52.45% | +143.99% | +65.31% | +106.88% | +81.92% | +80.02% | +83.07% |
| Retention ratio | +47.55% | -43.99% | +34.69% | -6.88% | +18.08% | +19.98% | +16.93% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 6y CAGR |
|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||
| Revenue · YoY | — | +2.99% | +10.38% | +6.66% | +5.10% | -18.64% | +19.72% | +3.67% |
| Gross profit · YoY | — | +0.43% | +17.74% | +1.13% | +1.30% | -15.23% | +17.61% | +3.20% |
| Profit | ||||||||
| Operating income · YoY | — | -44.32% | +86.49% | -20.22% | +33.77% | -24.22% | +21.68% | +0.36% |
| EBITDA · YoY | — | -40.02% | +75.84% | -17.87% | +29.34% | -23.49% | +21.53% | +0.68% |
| Net income · YoY | — | -42.40% | +76.69% | -20.41% | +33.26% | -20.83% | +14.27% | -0.39% |
| Operating | ||||||||
| EBIT · YoY | — | -41.21% | +77.65% | -18.30% | +30.58% | -21.84% | +18.46% | +0.52% |
| R&D · YoY | — | — | — | — | — | — | — | — |
| Per-share | ||||||||
| EPS · diluted · YoY | — | -43.31% | +77.20% | -20.54% | +33.24% | -14.18% | +18.63% | +1.33% |
| EPS · basic · YoY | — | -43.21% | +76.89% | -20.50% | +33.43% | -14.22% | +17.39% | +1.18% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Leverage | |||||||
| Total debt | $3.03B | $3B | $3.25B | $3.21B | $3.19B | $2.76B | $3.37B |
| Net debt | $2.49B | $2.53B | $2.9B | $2.74B | $2.76B | $2.41B | $2.94B |
| Net debt / EBITDA | 1.53 | 2.59 | 1.69 | 1.94 | 1.51 | 1.73 | 1.74 |
| Debt / equity | 0.24 | 0.35 | 0.33 | 0.31 | 0.27 | 0.30 | 0.31 |
| Debt / assets | +4.91% | +5.38% | +5.45% | +5.28% | +5.02% | +5.19% | +5.39% |
| Equity / assets | +20.76% | +15.32% | +16.61% | +17.29% | +18.30% | +17.40% | +17.61% |
| Coverage | |||||||
| EBITDA / interest expense | 14.42 | 8.72 | 13.53 | 10.61 | 13.52 | 12.14 | 12.90 |
| Operating income / interest | 12.94 | 7.27 | 11.95 | 9.11 | 12.00 | 10.68 | 11.36 |
| Interest expense | $113M | $112M | $127M | $133M | $135M | $114.97M | $131.5M |
| Liquidity | |||||||
| Current ratio | — | — | — | — | — | — | — |
| Quick ratio | — | — | — | — | — | — | — |
| Cash ratio | — | — | — | — | — | — | — |
| Working capital | $3.48B | $3.63B | $3.79B | $4.14B | $4.16B | — | — |
| Working capital / revenue | +30.15% | +30.55% | +28.85% | +29.59% | +28.30% | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).