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Cannae Holdings (CNNE) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Cannae Holdings (CNNE) Q2 2026 earnings results →
Q2 2026 Revenue down 7% year over year to $102M · 28¢ of every $1 of revenue kept as net profit · operating margin -55.6%
Cannae Holdings made $102M in Q2 2026 (-7% Y/Y): Restaurant revenue $92.0M, Other operating revenue $10.2M. Operating margin -55.6%, net earnings $28.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $102.2M in Q2 2026, down 7% year over year and up 6% from the previous quarter. Restaurant revenue was the largest line at 90% of revenue. Restaurant revenue lost $9.9M year over year (down 10%), 124% of the total change.
Operating costs exceeded revenue by $56.8M, an operating margin of -55.6%. Total costs fell 7% while revenue fell 7%. Net earnings were $37.5M ($28.4M including minority interests, which bore $9.1M of losses). The effective tax rate was 5.6%. Non-operating items added $86.9M, 289% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$5.2M. Non-cash charges added back $2.4M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $38.0M. Capital expenditures of $3.1M exceeded it, leaving free cash flow of −$8.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $102M | -7% | -55.6% | $28.4M | −$5.2M |
| Q1 2026 | 10-Q | May 11, 2026 | $96.2M | -7% | -23.0% | −$35.8M | −$21.2M |
| Q4 2025 | 10-K | Mar 2, 2026 | $103M | -6% | -23.3% | −$110M | $16.0M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $107M | -23% | -12.3% | −$70.8M | −$21.6M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $110M | -7% | -55.3% | −$240M | −$21.6M |
| Q1 2025 | 10-Q | May 12, 2025 | $103M | -1% | -20.7% | −$115M | $9.1M |
| Q4 2024 | 10-K | Feb 27, 2025 | $110M | -32% | -20.0% | −$45.8M | −$12.0M |
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🔄Rotation against the market and its industry (RRG)interactive
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📈Investments: gains and what it boughtinteractive
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About Cannae Holdings
The following describes the business of Cannae Holdings, Inc. and its subsidiaries. Except where otherwise noted, all references to "we," "us," "our," "Cannae," "Cannae Holdings" or the "Company," are to Cannae Holdings, Inc. and its subsidiaries, taken together. We primarily acquire interests in operating companies and are engaged in actively managing and operating a core group of those companies, which we are committed to supporting for the long term. From time to time, we also seek to take meaningful equity ownership stakes where we have the ability to control or significantly influence quality companies, and we bring the strength of our operational expertise to each of our subsidiaries.
In its own words, from its 10-K, filed Mar 2, 2026.
Cannae Holdings against its Retail-Eating & Drinking Places peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -7% against the peers' median +15%. Operating margin: -55.6% against the peers' median 6.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CNNE Cannae Holdings | Q2 2026 | $102M | -7% | -55.6% |
| SBUX Starbucks | Q4 FY26 | $9.1B | -4% | 10.8% |
| BROS Dutch Bros | Q3 2026 | $550M | +30% | 9.6% |
| WEN Wendy's | Q3 2026 | $547M | -0.5% | 10.2% |
| SHAK Shake Shack | Q3 2026 | $423M | +15% | 5.1% |
| SDOT Sadot Group | Q2 2025 | $114M | — | 1.5% |
| BRCB Black Rock Coffee Bar | Q2 2026 | $63.0M | +25% | 6.5% |
Source: Cannae Holdings 10-Q on SEC EDGAR · CIK 1704720 · Retail-Eating & Drinking Places
13F: who owns CNNE and who is buying
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results