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Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue.
CNO Financial Group's Degree of Operating Leverage for the quarter that ended in Jun. 2026 was -1.77. The higher Degree of Operating Leverage, the higher operating risk the company will take.
The industry rank for CNO Financial Group's Degree of Operating Leverage or its related term are showing as below:
FRA:COS's Degree of Operating Leverage is ranked better than 81.23% of 357
companies
in the Insurance industry
Industry Median: 1.07
vs FRA:COS: -1.77
CNO Financial Group (FRA:COS) Degree of Operating Leverage Explanation
Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.
A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.
Be Aware
The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.
CNO Financial Group Degree of Operating Leverage Related Terms
CNO Financial Group Degree of Operating Leverage Historical Data
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The historical data trend for CNO Financial Group's Degree of Operating Leverage can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
CNO Financial Group Degree of Operating Leverage Chart
FRA:COS vs GNW, FG, BHF: Degree of Operating Leverage Comparison
For the Insurance - Life subindustry, CNO Financial Group's Degree of Operating Leverage, along with its competitors' market caps and Degree of Operating Leverage data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
CNO Financial Group Degree of Operating Leverage vs Insurance Industry
For the Insurance industry and Financial Services sector, CNO Financial Group's Degree of Operating Leverage distribution charts can be found below:
* The bar in red indicates where CNO Financial Group's Degree of Operating Leverage falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
What does a Degree of Operating Leverage of -1.77 mean?
CNO Financial Group (FRA:COS) has a Degree of Operating Leverage of -1.77 as of Jun. 2026. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for CNO Financial Group and its competitors. According to the industry distribution chart, CNO Financial Group ranks #67 out of 357 companies in the Insurance industry, placing it in the top 18.8%.
Is CNO Financial Group's Degree of Operating Leverage too high?
CNO Financial Group's current Degree of Operating Leverage is -1.77. Based on the distribution chart, CNO Financial Group ranks #67 out of 357 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, CNO Financial Group has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CNO Financial Group's Degree of Operating Leverage compare to GNW and FG?
According to the Insurance industry distribution chart, CNO Financial Group ranks #67 out of 357 companies for Degree of Operating Leverage. This places CNO Financial Group in the top 19% of its industry — outperforming the majority of peers. The industry median Degree of Operating Leverage is 1.07. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Degree of Operating Leverage for an Insurance company?
The median Degree of Operating Leverage among Insurance companies is 1.07, based on 357 companies in the industry. Companies in the top quartile (top 25%) have a Degree of Operating Leverage significantly above this median, while those in the bottom quartile fall well below. However, Degree of Operating Leverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Degree of Operating Leverage mean?
A high Degree of Operating Leverage can signal that a stock is expensive relative to its fundamentals. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for CNO Financial Group and its competitors. For the Insurance industry, the median Degree of Operating Leverage is 1.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CNO Financial Group's current Degree of Operating Leverage is -1.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CNO Financial Group stock overvalued right now?
Based on GuruFocus' analysis, CNO Financial Group (FRA:COS) is currently considered Significantly Overvalued. The stock's GF Value™ is €36.18, compared to a current price of €48.40 — trading 33.8% above its estimated fair value. The current Degree of Operating Leverage is -1.77. CNO Financial Group's overall GF Score™ is 67/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Degree of Operating Leverage calculated?
Degree of Operating Leverage is calculated from a company's financial statements. For CNO Financial Group (FRA:COS), the current Degree of Operating Leverage is -1.77 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is CNO Financial Group (FRA:COS) Overvalued in 2026?
Based on GuruFocus' analysis, CNO Financial Group stock appears to be overvalued.
The current stock price of €48.40 is trading 33.8% above its estimated GF Value™ of €36.18.
GuruFocus considers CNO Financial Group to be Significantly Overvalued.
Key valuation signals for FRA:COS:
Degree of Operating Leverage: -1.77
GF Value™: €36.18 vs. price of €48.40 (33.8% above fair value)
No single metric tells the full story. See the FRA:COS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CNO Financial Group Inc is a holding company for a group of insurance companies that develop, market and administer health insurance, annuity, individual life insurance and other insurance and financial services products. Consumers are served through the phone, online, mail, face-to-face with agents, or sales channels. The company's operating segments include annuity, health, and life insurance product lines as well as the investment and fee revenue segments. Maximum revenue is generated from the health product line segment. Annuity premiums account for the majority of the total premiums collected. Annuity products include fixed index annuities, traditional fixed-rate annuities, and single-premium immediate annuity products.
67GF Score
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Degree of Operating Leverage is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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