NYSE$CNNE
Cannae Holdings Inc · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Cannae Holdings reported its fourth quarter 2025 financial results, highlighting a strategic shift toward sports and entertainment investments.
Cannae Holdings reported a net loss of $93 million for the fourth quarter of 2025, primarily driven by its share of losses from unconsolidated affiliates and a decline in restaurant revenues. The company is actively transforming its portfolio, recently selling Dun & Bradstreet for $630 million and increasing its focus on sports assets like Black Knight Football Club.
- Completed the sale of Dun & Bradstreet to Clearlake Capital for $630 million in proceeds.
- Repurchased $323 million of stock in 2025, representing 28% of shares outstanding.
- Strategic pivot to concentrate primarily on sports and entertainment-related investments.
- Black Knight Football Club (BKFC) saw significant talent monetization with the £62 million sale of Antoine Semenyo.
Headline financials
Revenue & EPS history
Cannae Holdings · Revenue · Quarterly
$103M
Revenue by segment
Cannae Holdings · $110M total across 2 segments · Q2 2025
- Restaurant Group$102M—92.5%
- Other$8.3M—7.5%
Forward guidance
Cannae is focused on monetizing non-strategic assets to redeploy capital into higher-return sports and entertainment opportunities while maintaining a consistent dividend.
Tailwinds
- Accelerating portfolio concentration in high-growth sports and entertainment sectors.
- Significant liquidity following the $630 million Dun & Bradstreet sale.
- Strong talent development pipeline at AFC Bournemouth driving record transfer fees.
- Expansion of stadium capacity at Vitality Stadium to increase matchday revenue.
- Improved leverage ratios at portfolio companies like Watkins (reduced to 2.5x).
Headwinds
- Current stock price does not reflect management's view of intrinsic asset value.
- Macroeconomic headwinds impacting retail inventory levels at Watkins.
- Ongoing struggles at O'Charley's Restaurant + Bar leading to store closures.
- Revenue declines at Alight due to lower project revenue and commercial activity.
- Exposure to volatile player trading profits in the football club segment.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2025
-0.4%
Avg return
Earnings day
-0.8%
Avg return
5 days after
-0.8%
Avg return
30 days after
42%
16 / 38 earnings
Positive
+19.6%
Q3 2019
Best reaction
-14.5%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -2.5% | -7.4% | +0.8% | |
| Q4 2025 | -10.2% | -3.7% | -13.0% | |
| Q3 2025 | -9.6% | -10.0% | -0.8% | |
| Q1 2025 | -6.0% | -2.1% | +5.1% | |
| Q4 2024 | -0.5% | +4.4% | -1.8% | |
| Q3 2024 | -1.1% | -4.6% | -3.1% | |
| Q2 2024 | -1.3% | -2.1% | -1.5% | |
| Q1 2024 | +4.1% | +6.0% | -12.2% | |
| Q4 2023 | +9.0% | +8.5% | +9.3% | |
| Q3 2023 | -1.3% | +1.3% | +6.1% | |
| Q2 2023 | -4.6% | -1.4% | -1.7% | |
| Q1 2023 | -2.4% | -1.4% | +9.8% | |
| Q4 2022 | +2.7% | -0.2% | -14.5% | |
| Q3 2022 | +9.2% | +10.8% | -4.6% | |
| Q2 2022 | -1.6% | +1.3% | -3.2% | |
| Q1 2022 | -14.5% | -10.7% | -3.9% | |
| Q4 2021 | -8.2% | -10.9% | -14.8% | |
| Q3 2021 | -2.6% | -6.6% | -4.7% | |
| Q2 2021 | +4.1% | +1.4% | +0.3% | |
| Q1 2021 | -5.3% | -4.8% | -8.7% | |
| Q4 2020 | +0.1% | -4.2% | -0.3% | |
| Q3 2020 | +5.6% | -0.2% | +5.1% | |
| Q2 2020 | +0.9% | +0.7% | -5.6% | |
| Q1 2020 | +7.9% | +3.9% | +19.4% | |
| Q4 2019 | -4.6% | -10.3% | -28.8% | |
| Q3 2019 | +19.6% | +21.0% | +25.9% | |
| Q2 2019 | +0.2% | -1.0% | -5.4% | |
| Q1 2019 | -2.7% | -2.6% | +1.9% | |
| Q4 2018 | +3.2% | +2.8% | +10.4% | |
| Q3 2018 | -1.0% | -4.1% | -8.2% | |
| Q2 2018 | -1.9% | +2.8% | +5.3% | |
| Q1 2017 | -1.9% | -5.1% | -2.9% | |
| Q1 2018 | -1.6% | -4.2% | -2.9% | |
| Q4 2015 | +1.0% | +1.7% | +9.6% | |
| Q2 2017 | +1.0% | +1.7% | +9.6% | |
| Q4 2017 | -0.1% | +3.3% | +2.6% | |
| Q4 2016 | +1.0% | -2.4% | -5.0% | |
| Q3 2017 | +1.0% | -2.4% | -5.0% | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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