CNO Financial Group, Inc. vs Oscar Health, Inc., two Managed Care stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
CNO Financial carries no debt and underwrites seniors' life and supplemental policies the way it has for decades; Oscar Health carries little debt and is still proving individual-market insurance can profit at all, its 15.2% operating margin netting out to a loss. The balance sheets are both clean, which isolates the maturity gap: CNO earns a 5.4% net margin and pays a 1.3% dividend at 21.1 times earnings; Oscar has no multiple and a 28.5% free-cash figure that is premium float, not distributable cash. Returns on equity, 9.8% against negative 2.4%, complete the contrast. The pair prices insurance's two life stages, habit and hypothesis, and for once the habit trades at the more demanding valuation.
Comparison updated 2026-07-10.
| Metric | CNO | OSCR |
|---|---|---|
| Price | $52.52 | $29.79 |
| Market cap | $5.0B | $9.8B |
| Sector | Managed Care | Managed Care |
| Stage | Mature | Growth |
| P/E | 21.1 | — |
| P/B | 2.02 | 5.89 |
| P/S | 1.12 | 0.74 |
| EV/EBITDA | 7.6 | 309.2 |
| Revenue growth | +5.0% | +30.5% |
| Operating margin | 12.6% | 15.2% |
| Net margin | 5.4% | -0.3% |
| Return on equity | 9.8% | -2.4% |
| Return on assets | 0.6% | -0.4% |
| Return on invested capital | 18.0% | 0.5% |
| FCF yield | 13.6% | 28.5% |
| Dividend yield | 1.3% | — |
| Debt / equity | 0.00 | 0.26 |
| Current ratio | — | 1.09 |
| Altman Z (solvency) | 0.30 | 2.14 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.