CNO Financial Group, Inc. (CNO) vs Primerica, Inc. (PRI)

CNO Financial Group, Inc. and Primerica, Inc. are both Insurance Life companies. Primerica, Inc. is the larger, with a market value of $8.5B against $5.0B — 1.7× the size. Primerica, Inc. trades at the lower P/E: 11.1× against 18.2×. Primerica, Inc. grew revenue faster over the last twelve months: 8.57% against 6.03%. Primerica, Inc. has the higher net margin (23.2% vs 6.02%) and the higher return on invested capital (17.9% vs 6.42%). Both pay a dividend; CNO Financial Group, Inc. yields more (2.34% vs 1.10%). Across the 23 metrics below, Primerica, Inc. leads on 17 and CNO Financial Group, Inc. on 6.

Valuation

Metric CNO PRI Insurance Life median
P/E 18.18 11.05 12.15
P/S 1.08 2.51 0.75
P/B 1.94 3.41 1.12
Price to free cash flow 7.20 10.21 7.78
EV/EBITDA 7.98 7.87 8.42
EV/Sales 1.72 3.20 0.80
Earnings yield 5.50% 9.05% 8.23%
Free cash flow yield 13.89% 9.80% 11.12%

Profitability

Metric CNO PRI Insurance Life median
Gross margin 44.97% 81.38% 32.44%
Operating margin 12.30% 30.60% 11.31%
Net margin 6.02% 23.20% 6.61%
Free cash flow margin 15.04% 24.54% 15.04%
Return on equity 10.93% 32.97% 8.67%
Return on assets 0.72% 5.38% 0.67%
Return on invested capital 6.42% 17.86% 8.20%

Growth

Metric CNO PRI Insurance Life median
Revenue growth (TTM) 6.03% 8.57% 7.91%
EPS growth (last fiscal year) (38.50%) 67.10% —
Revenue growth, 5-year CAGR 3.27% 8.22% 1.08%
Net income growth, 5-year CAGR (5.35%) 14.33% 0.00%

Health

Metric CNO PRI Insurance Life median
Debt to equity 1.65 0.66 0.48
Current ratio 0.15 0.33 0.21
Net debt to EBITDA 2.96 0.76 0.12

Dividend

Metric CNO PRI Insurance Life median
Dividend yield 2.34% 1.10% 2.41%
Payout ratio 1.14 0.22 0.17

Size

Metric CNO PRI Insurance Life median
Market cap 4.95b 8.45b 7.92b

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