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
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
Sep '21
$1.3B
$34M
0.0%
3.7%
1.1%
0.2%
$284M
$781M
$171M
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 38.6× (Mar '23) to 12.2× (Sep '26).
The price-to-sales ratio has risen from 0.8× (Mar '23) to 1.2× (Sep '26).
The dividend yield has fallen from 2.4% (Mar '23) to 1.6% (Sep '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?
As of Sep '26, Hanover Insurance Group, Inc. traded at a price-to-earnings ratio of about 12.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.