15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 6.4% per year over the past 5 years.
Net income has grown faster than revenue (13.1% vs 6.4% per year).
Operating margin has expanded, at 14.1% in the latest year.
Free cash flow has grown 11.1% per year over the past 5 years.
Financial health
Total debt ($1.2B) exceeds cash ($1.1B); net debt is $96M.
Total debt has grown in line with revenue (9.3% vs 6.4% per year).
Total debt is 1.3× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 19.7% of earnings and 11.2% of free cash flow.
The dividend has grown 5.6% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$6.6B
$663M
0.0%
14.1%
18.5%
3.9%
$1.2B
$1.2B
$1.1B
2024
$6.2B
$426M
0.0%
10.4%
15.0%
2.8%
$796M
$784M
$436M
2023
$6.0B
$35M
0.0%
1.8%
1.4%
0.2%
$350M
$783M
$316M
2022
$5.5B
$116M
0.0%
5.2%
5.0%
0.8%
$705M
$782M
$305M
2021
$5.2B
$423M
0.0%
8.3%
13.5%
3.0%
$816M
$782M
$231M
2020
$4.8B
$359M
0.0%
10.0%
11.2%
2.7%
$693M
$781M
$121M
2019
$4.9B
$425M
0.0%
9.3%
14.6%
3.4%
$590M
$653M
$216M
2018
$4.5B
$391M
0.0%
9.0%
13.2%
3.2%
$538M
$778M
$1.0B
2017
$4.3B
$186M
0.0%
7.7%
6.2%
1.2%
$686M
$787M
$298M
2016
$4.1B
$155M
0.0%
4.8%
5.4%
1.1%
$728M
$786M
$147M
2015
$5.0B
$332M
0.0%
9.3%
11.7%
2.4%
$425M
$803M
$339M
2014
$5.1B
$282M
0.0%
8.0%
9.9%
2.0%
$554M
$904M
$373M
2013
$4.8B
$251M
0.0%
8.2%
9.7%
1.9%
$361M
$904M
$486M
2012
$4.6B
$56M
0.0%
1.6%
2.2%
0.4%
$387M
$849M
$565M
2011
$3.9B
$37M
0.0%
1.8%
1.5%
0.3%
$205M
$911M
$820M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Sep '26
$1.7B
$173M
0.0%
14.1%
5.0%
1.0%
$518M
$844M
$506M
Jun '26
$1.7B
$192M
0.0%
14.6%
5.2%
1.1%
$209M
$844M
$266M
Mar '26
$1.7B
$187M
0.0%
14.7%
5.2%
1.1%
$115M
$844M
$244M
Dec '25
$1.7B
$199M
0.0%
17.3%
5.6%
1.2%
$377M
$1.2B
$1.1B
Sep '25
$1.7B
$179M
0.0%
14.9%
5.2%
1.1%
$551M
$1.3B
$916M
Jun '25
$1.7B
$157M
0.0%
12.7%
4.9%
1.0%
$205M
$785M
$244M
Mar '25
$1.6B
$128M
0.0%
11.6%
4.2%
0.8%
$37M
$784M
$315M
Dec '24
$1.6B
$168M
0.0%
16.1%
5.9%
1.1%
$211M
$784M
$436M
Sep '24
$1.6B
$102M
0.0%
9.6%
3.5%
0.7%
$392M
$784M
$427M
Jun '24
$1.5B
$41M
0.0%
6.2%
1.6%
0.3%
$137M
$784M
$338M
Mar '24
$1.6B
$116M
0.0%
9.7%
4.6%
0.8%
$56M
$783M
$265M
Dec '23
$1.5B
$108M
0.0%
10.3%
4.4%
0.7%
$91M
$783M
$316M
Sep '23
$1.5B
$9M
0.0%
0.9%
0.4%
0.1%
$222M
$783M
$295M
Jun '23
$1.5B
-$69M
0.0%
-5.3%
-3.1%
-0.5%
$23M
$783M
$168M
Mar '23
$1.4B
-$12M
0.0%
0.9%
-0.5%
-0.1%
$15M
$783M
$182M
Dec '22
$1.5B
-$12M
0.0%
-2.6%
-0.5%
-0.1%
$195M
$782M
$305M
Sep '22
$1.4B
$500000
0.0%
3.9%
0.0%
0.0%
$311M
$782M
$165M
Jun '22
$1.3B
$23M
0.0%
8.9%
0.9%
0.2%
$4M
$782M
$146M
Mar '22
$1.3B
$105M
0.0%
11.6%
3.7%
0.8%
$195M
$782M
$272M
Dec '21
$1.4B
$164M
0.0%
11.8%
5.2%
1.1%
$226M
$782M
$231M
Valuation over time
How the market has priced THG against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 38.1× (Mar '23) to 13.0× (Nov '26).
The price-to-sales ratio has risen from 0.8× (Mar '23) to 1.3× (Nov '26).
The dividend yield has fallen from 2.5% (Mar '23) to 1.5% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is THG growing its revenue and profit?
Over the past 5 years, Hanover Insurance Group, Inc.'s revenue has grown 6.4% per year, and net income grown 13.1% per year. These are computed facts, not advice.
How much debt does THG have?
As of FY2025, Hanover Insurance Group, Inc. reported $1.2B of total debt against $1.1B of cash.
What is THG's profit margin?
In FY2025, gross margin was —, operating margin 14.1%, and net margin 10.0%.
What is THG's P/E ratio?
Hanover Insurance Group, Inc.'s P/E (TTM) is 11.47 as of the 2026-11-04 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the THG stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 13.0× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.