한 눈에 보는 포지셔닝
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$55.08
▲ +$1.59+2.97%
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애프터마켓 마감$55.09+$0.01(+0.02%)· 08:34 KST 기준
Financial Services 섹터
TP $47 → $55(▲17%)
Buy → Hold
TP $43 → $48(▲12%)
FY2026 Q1·
Operator: 안녕하십니까, 여러분. CNO Financial Group, Inc.의 2026년 1분기 실적 발표 컨퍼런스 콜에 참여해 주셔서 감사합니다. 오늘 준비된 발표 후 질의응답 시간을 갖겠습니다. 질문이…
트랜스크립트 보기 →FY2025 Q4·
Operator: 여러분, 안녕하십니까. CNO Financial Group 4분기 실적 발표 컨퍼런스 콜에 참여해 주셔서 감사합니다. [Operator Instructions] 이제 Adam Auvil, 투자자 관…
트랜스크립트 보기 →2026 Q2
재무 한 눈에· FY 기준 · YoY 비교
$4.49B
+0.9% YoY
vs 전년 $4.45B
6.5%
-5.1p YoY
8.7%
15.1%
+0.9p YoY
FCF $675.70M
153.6%
낮을수록 좋음
18.1x
손익·재무상태·현금흐름을 연/분기 토글로 5년 추이까지
| 항목 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| 매출 (Revenue) | $3.99B | $4.30B | $4.31B | $4.02B | $3.82B | $4.12B | $3.58B | $4.15B | $4.45B | $4.49B |
| 매출원가 | $2.83B | $2.96B | $3.73B | $2.78B | $2.54B | $2.42B | $1.79B | $2.61B | $2.74B | $2.48B |
| 매출총이익 (Gross Profit) | $1.16B | $1.34B | $580.20M | $1.23B | $1.28B | $1.70B | $1.79B | $1.53B | $1.70B | $2.01B |
| 매출총이익률 | 29.1% | 31.2% | 13.5% | 30.7% | 33.6% | 41.2% | 50.1% | 37.0% | 38.3% | 44.8% |
| 영업이익 (Operating Income) | $353.20M | $480.50M | -$264.80M | $274.20M | $344.30M | $733.10M | $816.50M | $356.80M | $518.30M | $293.40M |
| 영업이익률 | 8.8% | 11.2% | -6.1% | 6.8% | 9.0% | 17.8% | 22.8% | 8.6% | 11.7% | 6.5% |
| 당기순이익 (Net Income) | $358.20M | $175.60M | -$315.00M | $409.40M | $301.80M | $570.30M | $630.60M | $276.50M | $404.00M | $229.30M |
| 순이익률 | 9.0% | 4.1% | -7.3% | 10.2% | 7.9% | 13.8% | 17.6% | 6.7% | 9.1% | 5.1% |
| EPS (희석) | $2.01 | $1.02 | $-1.90 | $2.61 | $2.11 | $3.36 | $5.36 | $2.40 | $3.74 | $2.35 |
| EBITDA | $744.60M | $869.60M | $177.20M | $694.40M | $757.00M | $1.07B | $1.20B | $862.80M | $1.07B | $842.80M |
| 잉여현금흐름 (FCF) | $759.50M | $613.10M | $317.80M | $696.70M | $735.50M | $598.30M | $495.40M | $176.70M | $191.00M | $195.70M |
5년 평균 GPM
42.3%
5년 평균 OPM
13.5%
5년 평균 NPM
10.5%
5년 평균 ROE
16.7%
5년 평균 ROIC
1.7%
최근 8분기 EPS 평균 서프라이즈 +15.4%. 다만 서프라이즈 폭은 분기마다 좁아지는 추세로, 시장 기대치가 따라잡고 있음.
| 항목 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| 현금 · 단기투자 | $21.29B | $23.09B | $18.51B | $21.37B | $23.44B | $24.91B | $20.63B | $22.28B | $24.69B | $8.87B |
| 유동자산 합계 | $478.00M | $578.00M | $594.00M | $0 | $0 | $29.38B | $26.73B | $0 | $29.99B | $13.58B |
| 자산 총계 | $31.98B | $33.11B | $31.44B | $33.63B | $35.34B | $36.20B | $33.13B | $35.03B | $37.85B | $38.79B |
| 부채 총계 | $27.49B | $28.26B | $28.07B | $28.95B | $29.86B | $30.94B | $31.36B | $32.81B | $35.33B | $36.15B |
| 자본 총계 | $4.49B | $4.85B | $3.37B | $4.68B | $5.48B | $5.26B | $1.77B | $2.22B | $2.52B | $2.64B |
부채비율 (D/E)
1370.3%
유동비율
71%
순현금
$4.82B
자본 5년 CAGR
-15.8%
| 항목 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| 영업활동 현금흐름 | $759.50M | $613.10M | $317.80M | $696.70M | $735.50M | $598.30M | $495.40M | $582.90M | $627.70M | $675.70M |
| 당기순이익 | $358.20M | $175.60M | -$315.00M | $278.00M | $301.80M | $570.30M | $630.60M | $276.50M | $404.00M | $229.30M |
| 감가상각비 | $275.00M | $265.40M | $292.20M | $267.90M | $303.90M | $236.60M | $248.50M | $267.40M | $292.40M | $318.50M |
| 주식보상비용 (SBC) | $23.00M | $21.40M | $24.70M | $18.80M | $0 | $25.20M | $0 | $0 | $0 | $0 |
| 운전자본 변동 | $332.80M | $464.70M | $207.80M | $632.40M | $397.60M | $346.20M | -$374.70M | $449.70M | $556.30M | $618.10M |
| 기타 영업 조정 | -$19.20M | -$233.70M | $728.20M | -$367.60M | -$281.90M | -$726.50M | -$161.00M | -$431.80M | -$684.10M | -$516.50M |
| 투자활동 현금흐름 | -$742.40M | -$239.60M | -$525.70M | -$555.60M | -$608.40M | -$1.53B | -$1.78B | -$872.30M | -$1.49B | -$1.67B |
| CapEx (자본적 지출) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| 재무활동 현금흐름 | $26.20M | -$274.00M | $107.20M | -$143.00M | $210.10M | $667.60M | $1.20B | $533.50M | $1.97B | -$22.60M |
| 자사주 매입 | -$210.00M | -$168.30M | -$108.00M | -$254.50M | -$268.30M | -$407.80M | -$190.10M | -$166.10M | -$300.20M | -$331.40M |
| 배당금 지급 | -$54.80M | -$59.60M | -$64.80M | -$67.10M | -$67.00M | -$65.70M | -$64.80M | -$68.10M | -$67.70M | -$66.20M |
| 잉여현금흐름 (FCF) | $759.50M | $613.10M | $317.80M | $696.70M | $735.50M | $598.30M | $495.40M | $582.90M | $627.70M | $675.70M |
FCF 마진
15.1%
CapEx / 매출
0.0%
주주환원 비중
59%
FCF 5년 CAGR
+3.1%
동종업계 6개와 비교한 상대적 위치. 정규화·마진·산점도·박스플롯으로
$371.44B
매출 · YoY +0.0%
$279.75B
매출 · YoY +3.3%
$40.00B
매출 · YoY +11.3%
$32.79B
매출 · YoY +16.4%
$191.57B
매출 · YoY -0.5%
$147.86B
매출 · YoY +3.2%
$114.98B
매출 · YoY +11.5%
$125.10B
매출 · YoY -1.4%
12M 수익률: HSBC +65.0% · MS +42.3% · CNO +39.6% · GS +36.6% · BAC +22.1% · JPM +19.0% · V +4.0% · BRK-B +1.7% · MA -3.1%
색상은 섹터 내 상대 위치 (초록=좋음 → 빨강=나쁨)
| 티커 | 매출 (FY) | 매출 YoY | 영업이익률 | ROE | PER | EV/EBITDA | FCF 수익률 |
|---|---|---|---|---|---|---|---|
| BRK-B | $371.44B | +0.0% | 15.9% | 9.3% | 16.2 | 16.2x | 2.3% |
| JPM | $279.75B | +3.3% | 26.0% | 15.7% | 16.0 | 18.4x | 11.2% |
| V | $40.00B | +11.3% | 60.0% | 52.9% | 33.4 | 25.7x | 3.3% |
| MA | $32.79B | +16.4% | 59.2% | 193.5% | 34.5 | 25.8x | 3.3% |
| BAC | $191.57B | -0.5% | 19.7% | 10.1% | 14.2 | 13.5x | 3.1% |
| HSBC | $147.86B | +3.2% | 20.3% | 11.3% | 13.0 | 7.7x | 9.2% |
| MS | $114.98B | +11.5% | 19.1% | 15.1% | 17.2 | 24.2x | 16.5% |
| GS | $125.10B | -1.4% | 17.5% | 13.7% | 16.9 | 30.0x | -17.2% |
X: 매출 YoY · Y: PER · 원 크기: 매출 규모
분할선은 표시 피어들의 중앙값(median).