Hanover Insurance Group, Inc. (THG) Financial Statements
Industry: Fire, Marine & Casualty Insurance
In fiscal 2025, Hanover Insurance reported revenue of $6.59B, up 5.7% from $6.24B the year before. Net income was $662.5M (a 10.0% net margin), or $18.16 per diluted share. Gross margin was 43.4% and operating margin was 14.1%. Operating activities generated $1.18B of cash, leaving $1.17B of free cash flow. At fiscal year end, Hanover Insurance held $16.95B in total assets against $13.37B in total liabilities, including $1.12B of cash and equivalents.
Open the full interactive Hanover Insurance financials → Quarterly statements, key ratios, valuation history and price charts.
Hanover Insurance Key Stats
| Share Price | $222.44 |
|---|---|
| Market Cap | $7.92B |
| P/E Ratio | 12.2 |
| Dividend Yield | 1.67% |
| Revenue YoY Growth | +5.7% |
| 52-Week Range | $165.10 – $232.83 |
| Shares Outstanding | 35.0 million (basic, 2026 Q2) |
Hanover Insurance Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $4.83B | $5.23B | $5.47B | $5.99B | $6.24B | $6.59B |
| Cost of Goods Sold | $2.85B | $3.13B | $3.62B | $4.13B | $3.76B | $3.73B |
| Gross Profit | $1.98B | $2.09B | $1.85B | $1.86B | $2.48B | $2.87B |
| Operating Income | $484.7M | $432.3M | $285.1M | $105.6M | $650.1M | $933.0M |
| Pre-Tax Income | $444.8M | $521.3M | $144.0M | $41.1M | $537.8M | $843.8M |
| Income Tax | $82.8M | $101.3M | $27.2M | $7.6M | $112.5M | $183.1M |
| Net Income | $358.7M | $418.7M | $116.0M | $35.3M | $426.0M | $662.5M |
| Diluted EPS | $9.42 | $11.49 | $3.21 | $0.98 | $11.70 | $18.16 |
Hanover Insurance Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.67B | $1.67B | $1.70B | $1.73B |
| Net Income | $178.7M | $198.5M | $186.8M | $191.6M |
| Diluted EPS | $4.90 | $5.44 | $5.20 | $5.38 |
Hanover Insurance Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $120.6M | $230.9M | $305.0M | $316.1M | $435.5M | $1.12B |
| Total Assets | $13.44B | $14.25B | $14.00B | $14.61B | $15.27B | $16.95B |
| Total Long-Term Debt | $780.8M | $781.6M | $782.4M | $783.2M | $722.3M | $843.3M |
| Total Liabilities | $10.24B | $11.11B | $11.67B | $12.15B | $12.43B | $13.37B |
| Shareholders' Equity | $3.20B | $3.14B | $2.33B | $2.47B | $2.84B | $3.57B |
Hanover Insurance Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $707.6M | $823.7M | $722.3M | $361.7M | $806.4M | $1.18B |
| Cash From Investing | -$608.8M | -$460.2M | -$507.6M | -$228.5M | -$540.9M | -$666.2M |
| Cash From Financing | -$193.9M | -$253.2M | -$140.6M | -$122.1M | -$145.5M | $175.2M |
| Free Cash Flow | $692.7M | $815.7M | $704.5M | $349.8M | $796.2M | $1.17B |
| Dividends Paid | $99.5M | $102.2M | $108.9M | $117.2M | $124.1M | $130.6M |
Figures from Hanover Insurance's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Hanover Insurance financials page for every line item.
Hanover Insurance Company Profile
| Ticker | THG |
|---|---|
| Exchange | NYSE |
| Industry | Fire, Marine & Casualty Insurance |
| Headquarters | Worcester, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000944695 |
Frequently Asked Questions
What was Hanover Insurance's revenue in fiscal 2025?
Hanover Insurance (THG) reported revenue of $6.59B for fiscal 2025.
What is Hanover Insurance's annual revenue history?
Hanover Insurance's annual revenue by fiscal year: 2020: $4.83B; 2021: $5.23B; 2022: $5.47B; 2023: $5.99B; 2024: $6.24B; 2025: $6.59B.
What was Hanover Insurance's net income in fiscal 2025?
Hanover Insurance reported net income of $662.5M for fiscal 2025.
What was Hanover Insurance's earnings per share (EPS) in fiscal 2025?
Hanover Insurance's diluted EPS was $18.16 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Hanover Insurance generate in fiscal 2025?
Hanover Insurance generated $1.17B of free cash flow in fiscal 2025.
What was Hanover Insurance's revenue last quarter?
In its most recent reported quarter (2026 Q2), Hanover Insurance reported revenue of $1.73B.
How much debt does Hanover Insurance have?
Hanover Insurance reported $843.3M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Hanover Insurance are outstanding?
Hanover Insurance reported a weighted average of 35.0 million basic shares outstanding in 2026 Q2.
What is Hanover Insurance's market cap?
Based on its latest closing price, Hanover Insurance (THG) has a market capitalization of about $7.92B.
When does Hanover Insurance's fiscal year end?
Hanover Insurance's fiscal year end, as registered with the SEC, is December 31.
Where is Hanover Insurance headquartered?
Hanover Insurance lists its business address in Worcester, Massachusetts in its SEC filings.