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CNO FINANCIAL GROUP INC (CNO) Stock Fundamental Analysis

NYSE:CNO - New York Stock Exchange, Inc. - US12621E1038 - Common Stock - Currency: USD

36.9  -1.38 (-3.61%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to CNO. CNO was compared to 143 industry peers in the Insurance industry. While CNO is still in line with the averages on profitability rating, there are concerns on its financial health. CNO has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year CNO was profitable.
In the past year CNO had a positive cash flow from operations.
In the past 5 years CNO has always been profitable.
Each year in the past 5 years CNO had a positive operating cash flow.
CNO Yearly Net Income VS EBIT VS OCF VS FCFCNO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M 800M

1.2 Ratios

Looking at the Return On Assets, with a value of 1.07%, CNO is doing worse than 60.14% of the companies in the same industry.
CNO has a Return On Equity of 16.17%. This is in the better half of the industry: CNO outperforms 69.23% of its industry peers.
Industry RankSector Rank
ROA 1.07%
ROE 16.17%
ROIC N/A
ROA(3y)1.25%
ROA(5y)1.24%
ROE(3y)21.43%
ROE(5y)16.13%
ROIC(3y)N/A
ROIC(5y)N/A
CNO Yearly ROA, ROE, ROICCNO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30

1.3 Margins

The Profit Margin of CNO (8.93%) is comparable to the rest of the industry.
CNO's Profit Margin has declined in the last couple of years.
CNO's Operating Margin of 17.41% is fine compared to the rest of the industry. CNO outperforms 70.63% of its industry peers.
In the last couple of years the Operating Margin of CNO has grown nicely.
Industry RankSector Rank
OM 17.41%
PM (TTM) 8.93%
GM N/A
OM growth 3Y-3.08%
OM growth 5Y9.46%
PM growth 3Y-13.73%
PM growth 5Y-2.56%
GM growth 3YN/A
GM growth 5YN/A
CNO Yearly Profit, Operating, Gross MarginsCNO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20

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1

2. Health

2.1 Basic Checks

Compared to 1 year ago, CNO has less shares outstanding
The number of shares outstanding for CNO has been reduced compared to 5 years ago.
Compared to 1 year ago, CNO has a worse debt to assets ratio.
CNO Yearly Shares OutstandingCNO Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
CNO Yearly Total Debt VS Total AssetsCNO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

CNO has a debt to FCF ratio of 7.20. This is a slightly negative value and a sign of low solvency as CNO would need 7.20 years to pay back of all of its debts.
CNO has a Debt to FCF ratio of 7.20. This is in the lower half of the industry: CNO underperforms 69.93% of its industry peers.
A Debt/Equity ratio of 1.81 is on the high side and indicates that CNO has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.81, CNO is doing worse than 90.91% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.81
Debt/FCF 7.2
Altman-Z N/A
ROIC/WACCN/A
WACCN/A
CNO Yearly LT Debt VS Equity VS FCFCNO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
CNO Yearly Current Assets VS Current LiabilitesCNO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

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5

3. Growth

3.1 Past

CNO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 28.30%, which is quite impressive.
Measured over the past years, CNO shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.49% on average per year.
Looking at the last year, CNO shows a small growth in Revenue. The Revenue has grown by 7.33% in the last year.
Measured over the past years, CNO shows a small growth in Revenue. The Revenue has been growing by 2.35% on average per year.
EPS 1Y (TTM)28.3%
EPS 3Y12.53%
EPS 5Y16.49%
EPS Q2Q%11.02%
Revenue 1Y (TTM)7.33%
Revenue growth 3Y3.34%
Revenue growth 5Y2.35%
Sales Q2Q%-6.26%

3.2 Future

Based on estimates for the next years, CNO will show a small growth in Earnings Per Share. The EPS will grow by 6.33% on average per year.
The Revenue is expected to grow by 3.79% on average over the next years.
EPS Next Y-3.52%
EPS Next 2Y3.24%
EPS Next 3Y5.65%
EPS Next 5Y6.33%
Revenue Next Year3.87%
Revenue Next 2Y3.36%
Revenue Next 3Y3.25%
Revenue Next 5Y3.79%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
CNO Yearly Revenue VS EstimatesCNO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B 4B
CNO Yearly EPS VS EstimatesCNO Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3 4 5

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 9.25, the valuation of CNO can be described as very reasonable.
Based on the Price/Earnings ratio, CNO is valued a bit cheaper than the industry average as 69.23% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of CNO to the average of the S&P500 Index (28.29), we can say CNO is valued rather cheaply.
The Price/Forward Earnings ratio is 9.59, which indicates a very decent valuation of CNO.
Based on the Price/Forward Earnings ratio, CNO is valued a bit cheaper than 61.54% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.32. CNO is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 9.25
Fwd PE 9.59
CNO Price Earnings VS Forward Price EarningsCNO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, CNO is valued a bit cheaper than the industry average as 66.43% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 5.9
EV/EBITDA N/A
CNO Per share dataCNO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.56
EPS Next 2Y3.24%
EPS Next 3Y5.65%

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5

5. Dividend

5.1 Amount

CNO has a Yearly Dividend Yield of 1.67%. Purely for dividend investing, there may be better candidates out there.
CNO's Dividend Yield is comparable with the industry average which is at 3.28.
Compared to the average S&P500 Dividend Yield of 2.51, CNO is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.67%

5.2 History

On average, the dividend of CNO grows each year by 8.19%, which is quite nice.
CNO has been paying a dividend for at least 10 years, so it has a reliable track record.
CNO has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)8.19%
Div Incr Years12
Div Non Decr Years12
CNO Yearly Dividends per shareCNO Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

CNO pays out 16.76% of its income as dividend. This is a sustainable payout ratio.
CNO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP16.76%
EPS Next 2Y3.24%
EPS Next 3Y5.65%
CNO Yearly Income VS Free CF VS DividendCNO Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M
CNO Dividend Payout.CNO Dividend Payout, showing the Payout Ratio.CNO Dividend Payout.PayoutRetained Earnings

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CNO FINANCIAL GROUP INC

NYSE:CNO (4/21/2025, 1:46:05 PM)

36.9

-1.38 (-3.61%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-06 2025-02-06/amc
Earnings (Next)04-28 2025-04-28/amc
Inst Owners96.17%
Inst Owner Change-0.08%
Ins Owners2.35%
Ins Owner Change0.37%
Market Cap3.70B
Analysts69.09
Price Target44.37 (20.24%)
Short Float %1.87%
Short Ratio3.21
Dividend
Industry RankSector Rank
Dividend Yield 1.67%
Yearly Dividend0.64
Dividend Growth(5Y)8.19%
DP16.76%
Div Incr Years12
Div Non Decr Years12
Ex-Date03-10 2025-03-10 (0.16)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)27.77%
Min EPS beat(2)22.13%
Max EPS beat(2)33.4%
EPS beat(4)3
Avg EPS beat(4)20.52%
Min EPS beat(4)-20.49%
Max EPS beat(4)47.04%
EPS beat(8)5
Avg EPS beat(8)12.58%
EPS beat(12)7
Avg EPS beat(12)12.69%
EPS beat(16)11
Avg EPS beat(16)14.57%
Revenue beat(2)2
Avg Revenue beat(2)15.81%
Min Revenue beat(2)11.94%
Max Revenue beat(2)19.67%
Revenue beat(4)4
Avg Revenue beat(4)17.14%
Min Revenue beat(4)11.94%
Max Revenue beat(4)22.37%
Revenue beat(8)8
Avg Revenue beat(8)14.24%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)5.07%
EPS NQ rev (1m)-2.04%
EPS NQ rev (3m)-1%
EPS NY rev (1m)-0.08%
EPS NY rev (3m)1.43%
Revenue NQ rev (1m)-0.03%
Revenue NQ rev (3m)0.51%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.63%
Valuation
Industry RankSector Rank
PE 9.25
Fwd PE 9.59
P/S 0.82
P/FCF 5.9
P/OCF 5.9
P/B 1.48
P/tB 1.48
EV/EBITDA N/A
EPS(TTM)3.99
EY10.81%
EPS(NY)3.85
Fwd EY10.43%
FCF(TTM)6.26
FCFY16.96%
OCF(TTM)6.26
OCFY16.96%
SpS45.12
BVpS24.91
TBVpS24.91
PEG (NY)N/A
PEG (5Y)0.56
Profitability
Industry RankSector Rank
ROA 1.07%
ROE 16.17%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM 17.41%
PM (TTM) 8.93%
GM N/A
FCFM 13.87%
ROA(3y)1.25%
ROA(5y)1.24%
ROE(3y)21.43%
ROE(5y)16.13%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)2.15%
ROCE(5y)1.99%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-3.08%
OM growth 5Y9.46%
PM growth 3Y-13.73%
PM growth 5Y-2.56%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 1.81
Debt/FCF 7.2
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 250
Cash Conversion N/A
Profit Quality 155.37%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)148.25%
Profit Quality(5y)158.67%
High Growth Momentum
Growth
EPS 1Y (TTM)28.3%
EPS 3Y12.53%
EPS 5Y16.49%
EPS Q2Q%11.02%
EPS Next Y-3.52%
EPS Next 2Y3.24%
EPS Next 3Y5.65%
EPS Next 5Y6.33%
Revenue 1Y (TTM)7.33%
Revenue growth 3Y3.34%
Revenue growth 5Y2.35%
Sales Q2Q%-6.26%
Revenue Next Year3.87%
Revenue Next 2Y3.36%
Revenue Next 3Y3.25%
Revenue Next 5Y3.79%
EBIT growth 1Y22.44%
EBIT growth 3Y0.16%
EBIT growth 5Y12.04%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y7.69%
FCF growth 3Y1.61%
FCF growth 5Y-2.06%
OCF growth 1Y7.69%
OCF growth 3Y1.61%
OCF growth 5Y-2.06%