Cannae Holdings, Inc.
CNNE · Retail-Eating & Drinking Places · 43.9M shares · +0%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $110M (gross $113M, SBC $4M)
Grade
D45Cannae is an externally-managed holding company posting large operating and net losses.
Strengths
- Low leverage (D/E 0.06, 25th pct) and adequate liquidity (current ratio 2.07)
- Diversified stakes (Alight, JANA, Black Knight Football) with active value-creation strategy
Risks
- Deeply negative returns (ROE -50%, ROA -39%) and net margin -121% (18th pct)
- Related-party management structure and equity-method holdings with binary value-realization risk
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -121.2%)
- Strong balance sheetStrong balance sheet — $182M cash & investments
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
15.5%
Operating margin
-28.2%
Net margin
-121.2%
Return on equity
-50.1%
Return on assets
-38.9%
ROIC
-8.7%
Revenue growth (QoQ)
-6.9%
Debt / equity
0.1×
Current ratio
2.1×
EBITDA
-$108M
Tangible book value
$957M
Cash & investments
$182M
Stock comp / revenue
4.4%
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-12 | Exec/director changeExhibits | filing ↗ |
| 2026-05-11 | ResultsExhibits | filing ↗ |
| 2026-03-09 | 1.02Exhibits | filing ↗ |
| 2026-02-23 | ResultsReg FDExhibits | filing ↗ |
| 2025-12-16 | 5.03Shareholder voteExhibits | filing ↗ |
| 2025-12-12 | OtherExhibits | filing ↗ |
| 2025-11-10 | ResultsExhibits | filing ↗ |
| 2025-08-28 | Material agreement | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-12 | 2026-06-10 | 0001704720-26-000117 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001704720-26-000104 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001704720-26-000107 ↗ |
| 10-K/A | 2026-04-30 | 2025-12-31 | 0001704720-26-000094 ↗ |
| 8-K | 2026-03-09 | 2026-03-06 | 0001704720-26-000052 ↗ |
| 10-K | 2026-03-02 | 2025-12-31 | 0001704720-26-000045 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001704720-26-000025 ↗ |
| 8-K | 2025-12-16 | 2025-12-12 | 0001704720-25-000226 ↗ |
| 8-K | 2025-12-12 | 2025-12-12 | 0001704720-25-000224 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001704720-25-000172 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001704720-25-000175 ↗ |
| 8-K | 2025-08-28 | 2025-08-27 | 0001704720-25-000106 ↗ |