Hanover Insurance Group, Inc.
THG- Exchange
- NYSE
- Industry
- Fire, Marine & Casualty Insurance
- SEC CIK
- 0000944695
In the last 90 days, Hanover Insurance Group, Inc. insiders filed 0 open-market purchases and 2 sales; 550 institutions reported holding it in 13F filings for Q2 2026, worth $6.84B in total; Markel Group is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 8, 2026, 10:36 PM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 4, 2026 | Feb 4, 2025 | Jan 31, 2024 | Jan 19, 2023 | Feb 2, 2022 |
| Revenue | $6.59B | $6.24B | $5.99B | $5.47B | $5.23B |
| Operating income | $933.0M | $650.1M | $105.6M | $285.1M | $432.3M |
| Interest expense | $43.2M | $34.1M | $34.1M | $34.1M | $34.0M |
| Income tax | $183.1M | $112.5M | $7.60M | $27.2M | $101.3M |
| Net income | $662.5M | $426.0M | $35.3M | $116.0M | $418.7M |
| EPS, basic | $18.50 | $11.85 | $0.99 | $3.26 | $11.67 |
| EPS, diluted | $18.16 | $11.70 | $0.98 | $3.21 | $11.49 |
| Weighted shares, basic | 35.8M | 35.9M | 35.7M | 35.6M | 35.9M |
| Weighted shares, diluted | 36.5M | 36.4M | 36.1M | 36.1M | 36.4M |
| Margins and growth | |||||
| Operating margin | 14.1% | 10.4% | 1.8% | 5.2% | 8.3% |
| Net margin | 10.0% | 6.8% | 0.6% | 2.1% | 8.0% |
| Revenue growth, year over year | +5.7% | +4.1% | +9.6% | +4.6% | +8.3% |
| Net income growth, year over year | +55.5% | +1,106.8% | −69.6% | −72.3% | +16.7% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 4, 2026 | Feb 4, 2025 | Jan 31, 2024 | Jan 19, 2023 | Feb 2, 2022 |
| Cash and equivalents | $1.12B | $435.5M | $316.1M | $305.0M | $230.9M |
| Goodwill | $178.8M | $178.8M | $178.8M | $178.8M | $178.8M |
| Intangible assets | $18.0M | $15.5M | $15.5M | $15.5M | – |
| Total assets | $16.9B | $15.3B | $14.6B | $14.0B | $14.3B |
| Short-term debt | $375.0M | $61.8M | – | – | – |
| Long-term debt | $843.3M | $722.3M | – | – | – |
| Total liabilities | $13.4B | $12.4B | $12.1B | $11.7B | $11.1B |
| Shareholders' equity | $3.57B | $2.84B | $2.47B | $2.33B | $3.14B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 4, 2026 | Feb 4, 2025 | Jan 31, 2024 | Jan 19, 2023 | Feb 2, 2022 |
| Operating cash flow | $1.18B | $806.4M | $361.7M | $722.3M | $823.7M |
| Capital expenditures | $7.70M | $10.2M | $11.9M | $17.8M | $8.00M |
| Free cash flow | $1.17B | $796.2M | $349.8M | $704.5M | $815.7M |
| Depreciation and amortization | -$4.60M | $1.50M | $6.30M | $12.9M | $16.9M |
| Stock-based compensation | $35.6M | $31.0M | $31.1M | $29.0M | $22.9M |
| Dividends paid | $130.6M | $124.1M | $117.2M | $108.9M | $102.2M |
| Share buybacks | $129.2M | $26.7M | – | $30.8M | $162.6M |
| Investing cash flow | -$666.2M | -$540.9M | -$228.5M | -$507.6M | -$460.2M |
| Financing cash flow | $175.2M | -$145.5M | -$122.1M | -$140.6M | -$253.2M |
| Net change in cash | – | – | $11.1M | $74.1M | $110.3M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.5% | 0.5% | 0.5% | 0.5% | 0.4% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 27, 2026 | 34.4M | −3.4% | SEC |
| Jul 27, 2026 | 34.8M | −2.7% | SEC |
| Apr 28, 2026 | 35.0M | −2.6% | SEC |
| Feb 18, 2026 | 35.1M | −2.2% | SEC |
| Oct 28, 2025 | 35.6M | −1.2% | SEC |
| Jul 29, 2025 | 35.8M | −0.6% | SEC |
| Apr 29, 2025 | 35.9M | −0.1% | SEC |
| Feb 14, 2025 | 35.9M | +0.3% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.