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CNA Financial CNA Commercial Auto — Year 4

Other product segments

Surety
8.4%+3.7%

Similar metrics at other companies

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KGCommercial Auto Liability — Year 4
18.2%
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HGTYAuto — Year 4
3.4%+0.2pp
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UFCSCommercial automobile — Year 4
11.8%-0.6pp
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ORICommercial Automobile — Year 4
11.7%+0.2pp
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UFCSCommercial other liability — Year 4
16.5%+0.8pp
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UFCSCommercial workers' compensation — Year 4
8.2%+0.3pp

Other financials

Income statement

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Revenue$3.7B+1.4%
Net income$211.0M-23.0%
EPS (diluted)$0.78-22.0%

Balance sheet

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Cash & equivalents$522.0M+8.1%
Total debt$3.0B-0.1%
Total equity$10.9B+5.6%
Total assets$68.6B+1.8%

Cash flow

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Operating cash flow$393.0M-38.4%
CapEx$13.0M-27.8%
Free cash flow$380.0M-38.7%

Valuation

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Market cap$14.16B+9.9%
Enterprise value$16.61B+7.3%
P/E11.7×-3.0×
P/S0.9×+0.1×

Profitability

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Net margin8.1%+1.9pp
FCF margin14.4%-3.7pp

Returns & leverage

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Return on equity11.5%+2.5pp
Debt / equity0.3×0.0×

Where this comes from

Reported directly by CNA Financial in its filing.

Tagged under the XBRL concept us-gaap:ShortdurationInsuranceContractsHistoricalClaimsDurationYearFour.

The source filing: CNA Financial’s 10-K, filed February 10, 2026.

Filed
Feb 10, 2026, 8:11 AM EST
Fiscal year
FY2025
Accession
0000021175-26-000011
Medical Professional Liability3.6%16.6%21.4%16.7%13.2%9.7%6.1%2.9%1.8%0.4%
Other Professional Liability and Management Liability6.4%19.5%19.8%15.0%11.5%7.3%5.8%4.7%3.5%0.7%
Surety (1)15.2%36.2%12.9%8.4%6.3%9.2%(0.9)%2.6%
Commercial
Commercial Auto22.6%22.5%19.1%15.2%10.7%5.5%2.6%0.9%0.7%
General Liability3.4%12.1%15.5%16.6%14.5%9.8%8.4%5.4%5.4%4.0%
Workers' Compensation17.6%24.2%14.5%8.8%5.8%3.8%2.3%1.2%0.8%
International15.0%22.6%11.3%6.8%5.8%6.5%5.6%2.6%2.8%1.3%

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is CNA Financial's commercial auto — year 4?
CNA Financial (CNA) reported commercial auto — year 4 of 15.2% in Q4 2025.
How has CNA Financial's commercial auto — year 4 changed year-over-year?
CNA Financial's commercial auto — year 4 increased by 4.1% year-over-year, from 14.6% to 15.2%.
What does commercial auto — year 4 mean?
This metric captures the financial performance or claim development for the fourth year of commercial auto insurance policies. At this stage, the majority of claims should be resolved, and this metric serves as a final check on the adequacy of reserves for that specific cohort. It is a critical measure for long-term underwriting profitability.

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