Overview Dividends

(CNO) CNO Financial - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US12621E1038

Health Insurance, Life Insurance, Annuities, Medicare Supplement, Long-Term Care

CNO EPS (Earnings per Share)

EPS Growth (3Y CAGR): -52.50%
EPS Trend (3Y Correlation): -0.1%

CNO Revenue

Revenue Growth (3Y CAGR): 9.14%
Revenue Trend (3Y Correlation): 64.8%

Risk via 10d forecast
Volatility	25.2%
Value at Risk 5%th	40.9%

Reward
Sharpe Ratio	0.20
Alpha Jensen	-5.52

Character
Hurst Exponent	0.375
Beta	0.912

Drawdowns 3y
Max DD	21.12%
Mean DD	5.99%

Description: CNO CNO Financial November 08, 2025

CNO Financial Group (NYSE:CNO) operates through subsidiaries to sell a suite of insurance and financial products-Medicare supplement, Medicare Advantage, long-term care, life insurance, and various annuities-targeting middle-income pre-retirees and retirees in the United States. Distribution channels include phone, virtual platforms, online portals, and face-to-face agents, with a notable focus on voluntary benefits sold at workplaces and through membership groups. The firm’s brands-Bankers Life, Washington National, and Colonial Penn-cover everything from fixed indexed annuities to universal and whole-life policies.

Key operational metrics from the most recent fiscal year (2023) show revenue of roughly $3.5 billion and an operating margin of ≈13 %, while the combined ratio for its health-insurance segment sits near 92 %, indicating underwriting profitability. The company benefits from macro-drivers such as the aging U.S. population (the 65-plus cohort is projected to grow 15 % over the next decade) and steady Medicare enrollment growth of about 3 % annually, both of which expand the addressable market for supplemental and Advantage products. Conversely, rising interest rates compress the yields on fixed-interest annuities, pressuring the profitability of that line.

For a deeper, data-rich assessment of CNO’s valuation dynamics, you may find ValueRay’s analytical dashboards useful.

CNO Stock Overview

Market Cap in USD	3,879m
Sub-Industry	Life & Health Insurance
IPO / Inception	1987-01-01
Return 12m vs S&P 500	-7.70%
Analyst Rating	2.83 of 5

CNO Dividends

Dividend Yield	1.59%
Yield on Cost 5y	3.48%
Yield CAGR 5y	7.60%
Payout Consistency	100.0%
Payout Ratio	22.2%

CNO Growth Ratios

CAGR	26.47%
CAGR/Max DD Calmar Ratio	1.25
CAGR/Mean DD Pain Ratio	4.42
Current Volume	636.3k
Average Volume	552.9k

Piotroski VR‑10 (Strict, 0-10) 2.0

Net Income (280.9m TTM) > 0 and > 6% of Revenue (6% = 262.9m TTM)

FCFTA 0.02 (>2.0%) and ΔFCFTA 0.33pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 23.50% (prev 19.95%; Δ 3.55pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.02 (>3.0%) and CFO 704.4m > Net Income 280.9m (YES >=105%, WARN >=100%)

Net Debt (3.36b) to EBITDA (836.6m) ratio: 4.02 <= 3.0 (WARN <= 3.5)

Current Ratio 67.45 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (103.1m) change vs 12m ago -5.66% (target <= -2.0% for YES)

Gross Margin 38.31% (prev 63.51%; Δ -25.20pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 11.91% (prev 11.95%; Δ -0.05pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 2.16 (EBITDA TTM 836.6m / Interest Expense TTM 251.1m) >= 6 (WARN >= 3)

Altman Z'' 0.52

(A) 0.03 = (Total Current Assets 1.05b - Total Current Liabilities 15.5m) / Total Assets 37.33b

(B) 0.06 = Retained Earnings (Balance) 2.33b / Total Assets 37.33b

(D) 0.03 = Book Value of Equity 1.08b / Total Liabilities 34.81b

Total Rating: 0.52 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 61.74

1. Piotroski 2.0pt = -3.0

2. FCF Yield 9.79% = 4.90

3. FCF Margin 16.07% = 4.02

4. Debt/Equity 1.64 = 1.29

5. Debt/Ebitda 4.02 = -2.50

6. ROIC - WACC (= 1.01)% = 1.26

7. RoE 10.97% = 0.91

8. Rev. Trend 64.85% = 4.86

9. EPS Trend -0.09% = -0.00

What is the price of CNO shares?

As of November 13, 2025, the stock is trading at USD 41.64 with a total of 636,267 shares traded.
Over the past week, the price has changed by +3.25%, over one month by +5.69%, over three months by +10.87% and over the past year by +6.95%.

Is CNO Financial a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, CNO Financial is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 61.74 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CNO is around 45.65 USD . This means that CNO is currently overvalued and has a potential downside of 9.63%.

Is CNO a buy, sell or hold?

CNO Financial has received a consensus analysts rating of 2.83. Therefor, it is recommend to hold CNO.

Strong Buy: 0
Buy: 1
Hold: 4
Sell: 0
Strong Sell: 1

What are the forecasts/targets for the CNO price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	42.2	1.3%
Analysts Target Price	42.2	1.3%
ValueRay Target Price	49.4	18.5%

CNO Fundamental Data Overview November 02, 2025

Market Cap USD = 3.88b (3.88b USD * 1.0 USD.USD)
P/E Trailing = 14.4477
P/E Forward = 9.7087
P/S = 0.8852
P/B = 1.507
P/EG = 1.58
Beta = 0.912
Revenue TTM = 4.38b USD
EBIT TTM = 543.4m USD
EBITDA TTM = 836.6m USD
Long Term Debt = 4.13b USD (from longTermDebt, last quarter)
Short Term Debt = 2.44b USD (from shortTermDebt, last quarter)
Debt = 4.13b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.36b USD (from netDebt column, last quarter)
Enterprise Value = 7.19b USD (3.88b + Debt 4.13b - CCE 816.0m)
Interest Coverage Ratio = 2.16 (Ebit TTM 543.4m / Interest Expense TTM 251.1m)
FCF Yield = 9.79% (FCF TTM 704.4m / Enterprise Value 7.19b)
FCF Margin = 16.07% (FCF TTM 704.4m / Revenue TTM 4.38b)
Net Margin = 6.41% (Net Income TTM 280.9m / Revenue TTM 4.38b)
Gross Margin = 38.31% ((Revenue TTM 4.38b - Cost of Revenue TTM 2.70b) / Revenue TTM)
Gross Margin QoQ = 38.92% (prev 35.21%)
Tobins Q-Ratio = 0.19 (Enterprise Value 7.19b / Total Assets 37.33b)
Interest Expense / Debt = 1.43% (Interest Expense 59.1m / Debt 4.13b)
Taxrate = 22.20% (26.2m / 118.0m)
NOPAT = 422.7m (EBIT 543.4m * (1 - 22.20%))
Current Ratio = 67.45 (Total Current Assets 1.05b / Total Current Liabilities 15.5m)
Debt / Equity = 1.64 (Debt 4.13b / totalStockholderEquity, last quarter 2.52b)
Debt / EBITDA = 4.02 (Net Debt 3.36b / EBITDA 836.6m)
Debt / FCF = 4.77 (Net Debt 3.36b / FCF TTM 704.4m)
Total Stockholder Equity = 2.56b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.75% (Net Income 280.9m / Total Assets 37.33b)
RoE = 10.97% (Net Income TTM 280.9m / Total Stockholder Equity 2.56b)
RoCE = 8.12% (EBIT 543.4m / Capital Employed (Equity 2.56b + L.T.Debt 4.13b))
RoIC = 6.13% (NOPAT 422.7m / Invested Capital 6.90b)
WACC = 5.12% (E(3.88b)/V(8.01b) * Re(9.38%) + D(4.13b)/V(8.01b) * Rd(1.43%) * (1-Tc(0.22)))
Discount Rate = 9.38% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -4.77%
[DCF Debug] Terminal Value 74.68% ; FCFE base≈648.6m ; Y1≈694.6m ; Y5≈845.1m
Fair Price DCF = 120.4 (DCF Value 11.67b / Shares Outstanding 96.9m; 5y FCF grow 7.93% → 3.0% )
EPS Correlation: -0.09 | EPS CAGR: -52.50% | SUE: -4.0 | # QB: 0
Revenue Correlation: 64.85 | Revenue CAGR: 9.14% | SUE: 0.81 | # QB: 0

Additional Sources for CNO Stock

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