CNA Financial Corporation

AI-generated fair value estimate for this company.

Method: Excess-return (residual income) model on book value: $45.83 per share book value excluding AOCI as of Q2 2026; normalized ROE of 10% on TTM net income of $1.24B against $12.40B of average book value; 9% cost of equity; 3% long-run earned-premium and book-value growth; implied justified price-to-book of 1.17x applied to book value per share.

Reasoning: As a property and casualty insurer, CNA's intrinsic value is driven by its ability to compound book value at a sustainable underwriting-plus-investment return above its cost of equity; a residual-income or justified-P/B framework is more appropriate than a cash-flow DCF given the long-tail, reserve-driven nature of insurance earnings.