8-K Announcements
6Apr 29, 2026·SEC
Feb 4, 2026·SEC
Dec 16, 2025·SEC
The Hanover Insurance Group, Inc. (THG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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The Hanover Insurance Group, Inc. (THG) stock price & volume — 10-year historical chart
The Hanover Insurance Group, Inc. (THG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
The Hanover Insurance Group, Inc. (THG) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $5.25vs $4.14+26.8% | $1.6Bvs $1.6B-1.4% |
| Q1 2026 | Feb 3, 2026 | $5.79vs $5.03+15.1% | $1.5Bvs $1.5B-2.0% |
| Q4 2025 | Oct 29, 2025 | $5.09vs $3.79+34.3% | $1.7Bvs $1.5B+9.0% |
| Q3 2025 | Jul 30, 2025 | $4.35vs $3.07+41.7% | $1.7Bvs $1.8B-6.4% |
The Hanover Insurance Group, Inc. (THG) competitors in Commercial lines and surety insurers — business model, growth, and fundamentals comparison
The Hanover Insurance Group, Inc. (THG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
The Hanover Insurance Group, Inc. (THG) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 4.27B | 4.47B | 4.89B | 4.82B | 5.16B | 5.43B | 5.96B | 6.22B | 6.6B | 6.68B |
Revenue Growth % | 7.62% | 4.64% | 9.51% | -1.47% | 7.08% | 5.3% | 9.77% | 4.25% | 6.12% | 6.57% |
Medical Costs & Claims | 3.42B | 3.62B | 3.79B | 3.8B | 4.12B | 4.72B | 5.31B | 4.98B | 3.73B | 4.38B |
Medical Cost Ratio % | 80.14% | 80.97% | 77.54% | 78.78% | 79.79% | 86.82% | 89.05% | 80.09% | 56.53% | 65.48% |
Gross Profit | 847.6M▲ 0% | 849.7M▲ 0.2% | 1.1B▲ 29.3% | 1.02B▼ 6.9% | 1.04B▲ 2.0% | 716.3M▼ 31.3% | 652.9M▼ 8.9% | 1.24B▲ 89.6% | 2.87B▲ 131.7% | 2.31B▲ 0% |
Gross Margin % | 19.86% | 19.03% | 22.46% | 21.22% | 20.21% | 13.18% | 10.95% | 19.91% | 43.47% | 34.52% |
Gross Profit Growth % | 37.6% | 0.25% | 29.28% | -6.93% | 1.99% | -31.3% | -8.85% | 89.57% | 131.74% | - |
Operating Expenses | 554.7M | 567.2M | 576.4M | 577.6M | 521.4M | 572.3M | 611.8M | 699.9M | 2.02B | 1.39B |
OpEx / Revenue % | 13% | 12.7% | 11.79% | 11.99% | 10.11% | 10.53% | 10.26% | 11.26% | 30.68% | 20.74% |
Depreciation & Amortization | 30.1M | 24.6M | 21.6M | 18.2M | 16.9M | 12.9M | 6.3M | 1.5M | 0 | -2.2M |
Combined Ratio % | 93.14% | 93.67% | 89.32% | 90.77% | 89.9% | 97.35% | 99.31% | 91.35% | 87.21% | 86.22% |
Operating Income | 292.9M▲ 0% | 282.5M▼ 3.6% | 522.1M▲ 84.8% | 444.8M▼ 14.8% | 521.3M▲ 17.2% | 144M▼ 72.4% | 41.1M▼ 71.5% | 537.8M▲ 1208.5% | 843.8M▲ 56.9% | 920.8M▲ 0% |
Operating Margin % | 6.86% | 6.33% | 10.68% | 9.23% | 10.1% | 2.65% | 0.69% | 8.65% | 12.79% | 13.78% |
Operating Income Growth % | 343.79% | -3.55% | 84.81% | -14.81% | 17.2% | -72.38% | -71.46% | 1208.52% | 56.9% | - |
EBITDA | 323M | 307.1M | 543.7M | 463M | 538.2M | 156.9M | 47.4M | 539.3M | 887M | 933.1M |
EBITDA Margin % | 7.57% | 6.88% | 11.12% | 9.61% | 10.43% | 2.89% | 0.79% | 8.67% | 13.44% | 13.96% |
Interest Expense | 45.2M | 45.1M | 37.5M | 37.1M | 34M | 34.1M | 34.1M | 34.1M | 43.2M | 45.5M |
Non-Operating Income | -45.2M | -45.1M | -37.5M | -37.1M | -34M | -34.1M | -34.1M | -34.1M | -43.2M | -34.7M |
Pretax Income | 292.9M▲ 0% | 282.5M▼ 3.6% | 522.1M▲ 84.8% | 444.8M▼ 14.8% | 521.3M▲ 17.2% | 144M▼ 72.4% | 41.1M▼ 71.5% | 537.8M▲ 1208.5% | 843.8M▲ 56.9% | 920.8M▲ 0% |
Pretax Margin % | 6.86% | 6.33% | 10.68% | 9.23% | 10.1% | 2.65% | 0.69% | 8.65% | 12.79% | 13.78% |
Income Tax | 76.8M | 43.5M | 93.1M | 82.8M | 101.3M | 27.2M | 7.6M | 112.5M | 183.1M | 201.5M |
Effective Tax Rate % | 26.22% | 15.4% | 17.83% | 18.62% | 19.43% | 18.89% | 18.49% | 20.92% | 21.7% | 21.88% |
Net Income | 186.2M▲ 0% | 391M▲ 110.0% | 425.1M▲ 8.7% | 358.7M▼ 15.6% | 422.8M▲ 17.9% | 116M▼ 72.6% | 35.3M▼ 69.6% | 426M▲ 1106.8% | 662.5M▲ 55.5% | 721.1M▲ 0% |
Net Margin % | 4.36% | 8.75% | 8.69% | 7.44% | 8.19% | 2.14% | 0.59% | 6.85% | 10.04% | 10.79% |
Net Income Growth % | 20.05% | 109.99% | 8.72% | -15.62% | 17.87% | -72.56% | -69.57% | 1106.8% | 55.52% | 64.37% |
EPS (Diluted) | 4.33▲ 0% | 9.09▲ 109.9% | 10.46▲ 15.1% | 9.42▼ 9.9% | 11.49▲ 22.0% | 3.21▼ 72.1% | 0.98▼ 69.5% | 11.70▲ 1093.9% | 18.51▲ 58.2% | 19.87▲ 0% |
EPS Growth % | 20.61% | 109.93% | 15.07% | -9.94% | 21.97% | -72.06% | -69.47% | 1093.88% | 58.21% | 65.11% |
EPS (Basic) | 4.38 | 9.24 | 11.07 | 9.51 | 11.79 | 3.21 | 0.98 | 11.85 | 18.51 | - |
Diluted Shares Outstanding | 43M | 43M | 40.6M | 38.1M | 36.4M | 36.1M | 36.1M | 36.4M | 35.7M | 36.3M |
The Hanover Insurance Group, Inc. (THG) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Assets | 15.47B | 12.4B | 12.49B | 13.44B | 14.25B | 14B | 14.61B | 15.27B | 16.95B | 16.53B |
Asset Growth % | 8.78% | -19.84% | 0.73% | 7.63% | 6.03% | -1.82% | 4.41% | 4.53% | 10.94% | 32.72% |
Total Investment Assets | 6.89B | 7.29B | 8B | 8.85B | 9.15B | 8.51B | 8.91B | 9.41B | 10.38B | 4M |
Long-Term Investments | 6.33B | 6.63B | 7.26B | 8.05B | 1.43B | 1.03B | 927.8M | 7.82B | 8.51B | 31.53B |
Short-Term Investments | 5.75B | 6.16B | 6.69B | 7.45B | 7.72B | 7.48B | 7.99B | 1.59B | 1.87B | 0 |
Total Current Assets | 0 | 0 | 0 | 0 | 11.38B | 11.41B | 12.12B | 5.89B | 6.95B | 2.1B |
Cash & Equivalents | 376.4M | 1.02B | 215.7M | 120.6M | 230.9M | 305M | 316.1M | 435.5M | 1.12B | 243.5M |
Receivables | 2.72B | 2.83B | 3.07B | 3.21B | 3.43B | 3.62B | 3.82B | 3.87B | 3.95B | 13.74B |
Other Current Assets | -8.77B | -10.01B | -9.98B | -10.79B | 0 | 0 | 0 | 0 | 0 | 0 |
Goodwill & Intangibles | 178.8M | 178.8M | 178.8M | 178.8M | 730.8M | 783.6M | 799.6M | 841.6M | 881.8M | 2.8B |
Goodwill | 192.6M | 178.8M | 178.8M | 178.8M | 178.8M | 178.8M | 178.8M | 178.8M | 178.8M | 178.8M |
Intangible Assets | 0 | 0 | 0 | 0 | 552M | 604.8M | 620.8M | 662.8M | 703M | 0 |
PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Assets | -6.5B | -6.8B | -7.44B | -8.23B | 713.4M | 577.1M | 590.6M | 548.3M | 522.9M | -10.7B |
Total Liabilities | 12.47B | 9.45B | 9.57B | 10.24B | 11.11B | 11.66B | 12.15B | 12.43B | 13.37B | 12.96B |
Total Debt | 786.9M | 777.9M | 653.4M | 780.8M | 781.6M | 782.4M | 783.2M | 784.1M | 1.22B | 843.8M |
Net Debt | 410.5M | -242.8M | 437.7M | 660.2M | 550.7M | 477.4M | 467.1M | 348.6M | 95.6M | 600.3M |
Long-Term Debt | 786.9M | 777.9M | 653.4M | 780.8M | 781.6M | 782.4M | 783.2M | 722.3M | 1.22B | 793.7M |
Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61.8M | 0 | 50.1M |
Total Current Liabilities | 344.8M | 37.3M | 0 | 0 | 55.1M | 731.7M | 6.09B | 819.6M | 11.24B | 50.1M |
Accounts Payable | 51.5M | 37.3M | 53.4M | 48.4M | 55.1M | 70.3M | 64.3M | 37.7M | 45.2M | 0 |
Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.44B | 0 |
Other Current Liabilities | 0 | 0 | -681.1M | -735.9M | -907.7M | -70.3M | 5.25B | -37.7M | 7.76B | 0 |
Deferred Taxes | 0 | 0 | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 |
Other Liabilities | 11.69B | 8.67B | -705.2M | -878.1M | 10.33B | 10.16B | 11.36B | 10.89B | 915.3M | 12.11B |
Total Equity | 3B▲ 0% | 2.95B▼ 1.4% | 2.92B▼ 1.3% | 3.2B▲ 9.8% | 3.14B▼ 1.8% | 2.33B▼ 25.8% | 2.47B▲ 5.7% | 2.84B▲ 15.3% | 3.57B▲ 25.7% | 3.57B▲ 0% |
Equity Growth % | 4.91% | -1.43% | -1.3% | 9.81% | -1.79% | -25.79% | 5.65% | 15.26% | 25.68% | 88.04% |
Shareholders Equity | 3B | 2.95B | 2.92B | 3.2B | 3.14B | 2.33B | 2.47B | 2.84B | 3.57B | 3.57B |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Retained Earnings | 1.98B | 2.18B | 2.41B | 2.67B | 2.98B | 2.99B | 2.91B | 3.21B | 3.74B | 3.89B |
Common Stock | 600K | 600K | 600K | 600K | 600K | 600K | 600K | 600K | 600K | 600K |
Accumulated OCI | 107.6M | -116.5M | 152.6M | 372.5M | 122.2M | -701.5M | -517.2M | -456.3M | -171.4M | -237.9M |
Return on Equity (ROE) | 6.36% | 13.14% | 14.48% | 11.73% | 13.32% | 4.23% | 1.47% | 16.05% | 20.66% | 20.93% |
Return on Assets (ROA) | 1.25% | 2.81% | 3.42% | 2.77% | 3.05% | 0.82% | 0.25% | 2.85% | 4.11% | 4.37% |
Equity / Assets | 19.38% | 23.83% | 23.35% | 23.82% | 22.06% | 16.68% | 16.87% | 18.6% | 21.08% | 21.6% |
Debt / Equity | 0.26x | 0.26x | 0.22x | 0.24x | 0.25x | 0.34x | 0.32x | 0.28x | 0.34x | 0.24x |
Book Value per Share | 69.71 | 68.71 | 71.83 | 84.05 | 86.40 | 64.65 | 68.30 | 78.07 | 100.04 | 98.36 |
Tangible BV per Share | 65.23 | 64.56 | 67.42 | 79.35 | 66.32 | 42.94 | 46.15 | 54.95 | 75.34 | 93.43 |
The Hanover Insurance Group, Inc. (THG) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 704.6M | 551.3M | 602.9M | 707.6M | 823.7M | 722.3M | 361.7M | 806.4M | 1.18B | 1.26B |
Operating CF Growth % | -5.22% | -21.76% | 9.36% | 17.37% | 16.41% | -12.31% | -49.92% | 122.95% | 46.09% | 371.1% |
Operating CF / Revenue % | 16.51% | 12.34% | 12.33% | 14.68% | 15.96% | 13.29% | 6.07% | 12.97% | 17.86% | 18.83% |
Net Income | 186.2M | 391M | 425.1M | 358.7M | 420M | 116M | 35.3M | 426M | 662.5M | 721.1M |
Depreciation & Amortization | 30.1M | 24.6M | 21.6M | 18.2M | 16.9M | 12.9M | 6.3M | 1.5M | -4.6M | -5.3M |
Stock-Based Compensation | 12.3M | 13.4M | 17.4M | 20.1M | 22.9M | 29M | 31.1M | 31M | 0 | 27.8M |
Deferred Taxes | 39.8M | -23.4M | 12.5M | -23M | 25M | -46.5M | -24.6M | -18.8M | 0 | 7.2M |
Other Non-Cash Items | -37.4M | -102.6M | -111.1M | -17.6M | -281.1M | 49.6M | 41.5M | 145.8M | 102.8M | 277.7M |
Working Capital Changes | 473.6M | 248.3M | 237.4M | 351.2M | 620M | 561.3M | 272.1M | 220.9M | 417.4M | 229.5M |
Cash from Investing | -506.3M | 271.3M | -311.9M | -608.8M | -460.2M | -507.6M | -228.5M | -541.5M | -666.2M | -1.05B |
Capital Expenditures | -18.6M | -13.1M | -13.3M | -14.9M | -8M | -17.8M | -11.9M | -10.2M | -7.7M | -9.4M |
Acquisitions | 0 | 635.7M | 34.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Purchase of Investments | -1.87B | -1.6B | -1.92B | -2.08B | -2.3B | -2.08B | -1.13B | -3.31B | -78.4M | 235.6M |
Sale/Maturity of Investments | 1.39B | 1.25B | 1.59B | 1.49B | 1.85B | 1.59B | 914M | 2.78B | 101.4M | -113.8M |
Other Investing | -9.5M | 0 | 0 | 0 | 0 | 0 | 0 | -600K | -681.5M | -1.16B |
Cash from Financing | -111.7M | -171M | -1.1B | -193.9M | -253.2M | -140.6M | -122.1M | -145.5M | 175.2M | -281.9M |
Dividends Paid | -86.8M | -94.3M | -386.2M | -99.5M | -102.2M | -108.9M | -117.2M | -124.1M | -130.6M | -131.7M |
Share Repurchases | -37.2M | -57.7M | -563.6M | -212.8M | -162.6M | -30.8M | 0 | -26.7M | -129.2M | -205.1M |
Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.4M | 1.7M |
Debt Issuance (Net) | 0 | -1000K | -1000K | 1000K | 0 | 0 | 0 | 0 | 1000K | -1000K |
Other Financing | 12.3M | -7.4M | 1.6M | -2.2M | 11.6M | -900K | -4.9M | 5.3M | -13.6M | 28.1M |
Net Change in Cash | 150.6M▲ 0% | 722.8M▲ 379.9% | -805M▼ 211.4% | -95.1M▲ 88.2% | 110.3M▲ 216.0% | 74.1M▼ 32.8% | 11.1M▼ 85.0% | 119.4M▲ 975.7% | 687.2M▲ 475.5% | -71.6M▲ 0% |
Exchange Rate Effect | 7.2M | -4M | 3.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash at Beginning | 147.3M | 297.9M | 1.02B | 215.7M | 120.6M | 230.9M | 305M | 316.1M | 435.5M | 1.12B |
Cash at End | 297.9M | 1.02B | 215.7M | 120.6M | 230.9M | 305M | 316.1M | 435.5M | 1.12B | 243.5M |
Free Cash Flow | 686M▲ 0% | 538.2M▼ 21.5% | 589.6M▲ 9.6% | 692.7M▲ 17.5% | 815.7M▲ 17.8% | 704.5M▼ 13.6% | 349.8M▼ 50.3% | 796.2M▲ 127.6% | 1.17B▲ 47.0% | 1.25B▲ 0% |
FCF Growth % | -4.97% | -21.55% | 9.55% | 17.49% | 17.76% | -13.63% | -50.35% | 127.62% | 47% | 60.65% |
FCF Margin % | 16.07% | 12.05% | 12.06% | 14.38% | 15.81% | 12.97% | 5.87% | 12.81% | 17.74% | 18.68% |
FCF per Share | 15.95 | 12.52 | 14.52 | 18.18 | 22.41 | 19.52 | 9.69 | 21.87 | 32.78 | 34.4 |
The Hanover Insurance Group, Inc. (THG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Combined Ratio | 93.14% | 93.67% | 89.32% | 90.77% | 89.9% | 97.35% | 99.31% | 91.35% | 87.21% | 86.22% |
Medical Cost Ratio | 80.14% | 80.97% | 77.54% | 78.78% | 79.79% | 86.82% | 89.05% | 80.09% | 56.53% | 65.48% |
Return on Equity (ROE) | 6.36% | 13.14% | 14.48% | 11.73% | 13.32% | 4.23% | 1.47% | 16.05% | 20.66% | 20.93% |
Return on Assets (ROA) | 1.25% | 2.81% | 3.42% | 2.77% | 3.05% | 0.82% | 0.25% | 2.85% | 4.11% | 4.37% |
Equity / Assets | 19.38% | 23.83% | 23.35% | 23.82% | 22.06% | 16.68% | 16.87% | 18.6% | 21.08% | 21.6% |
Book Value / Share | 69.71 | 68.71 | 71.83 | 84.05 | 86.4 | 64.65 | 68.3 | 78.07 | 100.04 | 98.36 |
Debt / Equity | 0.26x | 0.26x | 0.22x | 0.24x | 0.25x | 0.34x | 0.32x | 0.28x | 0.34x | 0.24x |
Revenue Growth | 7.62% | 4.64% | 9.51% | -1.47% | 7.08% | 5.3% | 9.77% | 4.25% | 6.12% | 6.57% |
The Hanover Insurance Group, Inc. (THG) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 29, 2026·SEC
Feb 4, 2026·SEC
Dec 16, 2025·SEC
The Hanover Insurance Group, Inc. (THG) stock FAQ — growth, dividends, profitability & financials explained
The Hanover Insurance Group, Inc. (THG) grew revenue by 6.1% over the past year. This is steady growth.
Yes, The Hanover Insurance Group, Inc. (THG) is profitable, generating $721.1M in net income for fiscal year 2025 (10.0% net margin).
Yes, The Hanover Insurance Group, Inc. (THG) pays a dividend with a yield of 1.85%. This makes it attractive for income-focused investors.
The Hanover Insurance Group, Inc. (THG) has a return on equity (ROE) of 20.7%. This is excellent, indicating efficient use of shareholder capital.
The Hanover Insurance Group, Inc. (THG) has a combined ratio of 87.2%. A ratio below 100% indicates underwriting profitability.