THG financial statements
The full income statement, balance sheet, and cash-flow statement for Hanover Insurance Group Inc (THG), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 6.59B+5.7% | 6.24B+4.1% | 5.99B+9.6% | 5.47B+4.6% | 5.23B+8.4% | |
| Operating income | 933M+43.5% | 650M+515.6% | 106M-63.0% | 285M-34.1% | 432M-10.8% | |
| Interest expense | 43.2M+26.7% | 34.1M+0.0% | 34.1M+0.0% | 34.1M+0.3% | 34.0M-8.4% | |
| Other non-operating income | — | -2.40M-214.3% | 2.10M+520.0% | -500K | — | |
| Gain (loss) on equity securities | 19.0M+33.8% | 14.2M+353.6% | -5.60M+91.2% | -63.3M-153.1% | 119M+788.8% | |
| Pre-tax income | 844M+56.9% | 538M+1208.5% | 41.1M-71.5% | 144M-72.4% | 521M+17.2% | |
| Income tax | 183M+62.8% | 113M+1380.3% | 7.60M-72.1% | 27.2M-73.1% | 101M+22.3% | |
| 663M+55.5% | 426M+1106.8% | 35.3M-69.6% | 116M-72.6% | 423M+17.9% | ||
| Income from continuing operations | 661M+55.3% | 425M+1169.6% | 33.5M-71.3% | 117M-72.2% | 420M+16.0% | |
| $18.16+55.2% | $11.70+1093.9% | $0.98-69.5% | $3.21-72.3% | $11.60+23.1% | ||
| EPS (basic) | $18.50+56.1% | $11.85+1097.0% | $0.99-69.6% | $3.26-72.3% | $11.78+23.7% | |
| Weighted-avg shares (basic) | 35.8M-0.3% | 35.9M+0.6% | 35.7M+0.3% | 35.6M-0.8% | 35.9M-4.8% | |
| Weighted-avg shares (diluted) | 36.5M+0.3% | 36.4M+0.8% | 36.1M+0.0% | 36.1M-0.8% | 36.4M-4.5% | |
| Dividends per share | $3.72+7.6% | $3.45+5.6% | $3.27+7.0% | $3.06+6.2% | $2.88+5.3% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 1.12B+157.8% | 436M+37.8% | 316M+3.6% | 305M+32.1% | 231M+91.5% | |
| 16.9B+10.9% | 15.3B+4.5% | 14.6B+4.4% | 14.0B-1.8% | 14.3B+6.0% | ||
| Goodwill | 179M+0.0% | 179M+0.0% | 179M+0.0% | 179M+0.0% | 179M+0.0% | |
| Intangible assets | 18.0M+13.9% | 15.8M+1.9% | 15.5M+0.0% | 15.5M-3.1% | 16.0M | |
| Deferred tax assets | 83.3M-52.2% | 174M+0.5% | 173M-13.0% | 199M | — | |
| Short-term & current debt | 375M+506.8% | 61.8M | — | — | — | |
| 13.4B+7.6% | 12.4B+2.4% | 12.1B+4.2% | 11.7B+5.0% | 11.1B+8.5% | ||
| Long-term debt | 843M+16.8% | 722M-7.8% | 783M | — | — | |
| Deferred tax liabilities | — | — | — | — | 60.8M-37.5% | |
| 3.57B+25.7% | 2.84B+15.3% | 2.47B+5.7% | 2.33B-25.6% | 3.14B-2.1% | ||
| Common stock | 600K+0.0% | 600K+0.0% | 600K+0.0% | 600K+0.0% | 600K+0.0% | |
| Additional paid-in capital | 2.01B+2.0% | 1.97B+1.8% | 1.94B+1.4% | 1.91B+1.4% | 1.89B+1.6% | |
| Retained earnings | 3.74B+16.6% | 3.21B+10.3% | 2.91B-2.8% | 2.99B+0.3% | 2.98B+11.8% | |
| Treasury stock | 2.01B+6.7% | 1.89B+1.0% | 1.87B-0.3% | 1.87B+1.2% | 1.85B+9.0% | |
| Accumulated other comprehensive income | -171M+62.4% | -456M+11.8% | -517M+26.3% | -702M-674.1% | 122M-67.2% | |
| Total liabilities & equity | 16.9B+10.9% | 15.3B+4.5% | 14.6B+4.4% | 14.0B-1.8% | 14.3B+6.0% | |
| Common shares issued | 60.5M+0.0% | 60.5M+0.0% | 60.5M+0.0% | 60.5M+0.0% | 60.5M+0.0% | |
| Shares outstanding (cover) | 35.1M-2.2% | 35.9M+0.3% | 35.8M+0.6% | 35.6M+0.4% | 35.5M-2.5% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.18B+46.1% | 806M+122.9% | 362M-49.9% | 722M-12.3% | 824M+16.4% | ||
| Depreciation & amortization | -4.60M-406.7% | 1.50M-76.2% | 6.30M-51.2% | 12.9M-23.7% | 16.9M-7.1% | |
| Share-based compensation | 35.6M+14.8% | 31.0M-0.3% | 31.1M+7.2% | 29.0M+26.6% | 22.9M+13.9% | |
| Deferred income taxes | 13.8M+174.2% | -18.6M+25.6% | -25.0M+46.2% | -46.5M-295.4% | 23.8M+203.0% | |
| -666M-23.2% | -541M-136.7% | -229M+55.0% | -508M-10.3% | -460M+24.4% | ||
| Capital expenditure | 7.70M-24.5% | 10.2M-14.3% | 11.9M-33.1% | 17.8M+122.5% | 8.00M-46.3% | |
| Free cash flow | 1.17B+47.0% | 796M+127.6% | 350M-50.3% | 705M-13.6% | 816M+17.8% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 175M+220.4% | -146M-19.2% | -122M+13.2% | -141M+44.5% | -253M-30.6% | ||
| Long-term debt issued | 495M | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 129M+383.9% | 26.7M | 0.00-100.0% | 30.8M-81.1% | 163M-23.6% | |
| Dividends paid | 131M+5.2% | 124M+5.9% | 117M+7.6% | 109M+6.6% | 102M+2.7% | |
| Other financing activities | -13.6M-19.3% | -11.4M+0.0% | -11.4M+19.7% | -14.2M-59.6% | -8.90M-4.7% | |
| Net change in cash | — | — | 11.1M-85.0% | 74.1M-32.8% | 110M+216.0% | |
| Interest paid | 33.3M+0.3% | 33.2M+0.0% | 33.2M-0.3% | 33.3M-0.3% | 33.4M-1.5% | |
| Income taxes paid | 169M+13.4% | 149M+774.2% | -22.1M-120.5% | 108M+45.7% | 74.0M-23.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 6.42B+15.6% | 5.56B+28.0% | 4.34B-9.6% | 4.81B+3.4% | 4.65B+9.3% | |
| P/E | 9.7×-25.7% | 13.0× | — | 16.3×+47.8% | 11.0×-7.3% | |
| P/S | 1.0×+9.4% | 0.9×+21.9% | 0.7×-18.4% | 0.9×+0.6% | 0.9×+0.9% | |
| P/B | 1.8×-8.0% | 2.0×-4.7% | 2.1×-1.6% | 2.1×+40.6% | 1.5×+11.6% | |
| P/FCF | 5.5×-21.3% | 7.0×-27.1% | 9.6×+46.5% | 6.5×+14.6% | 5.7×-7.2% | |
| Earnings yield | 10.3%+34.5% | 7.7% | — | 6.2%-32.3% | 9.1%+7.9% | |
| FCF yield | 18.2%+27.1% | 14.3%+37.1% | 10.5%-31.7% | 15.3%-12.7% | 17.5%+7.7% | |
| Dividend yield | 2.0%-9.0% | 2.2%-17.1% | 2.7%+19.1% | 2.3%+3.0% | 2.2%-6.0% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: THG’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all THG filings on SEC EDGAR → Not investment advice.