Hanover Insurance Group, Inc. (THG) stock
THGNYSEFire, Marine & Casualty InsuranceFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q/A on Nov 5, 2026Score 14/3015% above fair value
$248.26+0.27 (+0.11%)
Close on Nov 13, 2026Market cap $8.53BP/E 11.9Yield –
Hanover Insurance operating margin
Operating margin is operating income as a percentage of revenue.
Hanover Insurance's operating margin for the twelve months ending Sep 30, 2026 was 15.2%. For fiscal 2025 it was 14.1%, against 10.4% the year before. The highest annual figure on record is 14.1% in fiscal 2025.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 14.1% | +3.7 |
| FY2024 | Dec 31, 2024 | 10.4% | +8.7 |
| FY2023 | Dec 31, 2023 | 1.8% | −3.5 |
| FY2022 | Dec 31, 2022 | 5.2% | −3.1 |
| FY2021 | Dec 31, 2021 | 8.3% | −1.8 |
| FY2020 | Dec 31, 2020 | 10.0% | +0.8 |
| FY2019 | Dec 31, 2019 | 9.3% | +0.2 |
| FY2018 | Dec 31, 2018 | 9.0% | +1.4 |
| FY2017 | Dec 31, 2017 | 7.7% | +2.9 |
| FY2016 | Dec 31, 2016 | 4.8% | −4.5 |
| FY2015 | Dec 31, 2015 | 9.3% | +1.2 |
| FY2014 | Dec 31, 2014 | 8.0% | −0.2 |
| FY2013 | Dec 31, 2013 | 8.2% | +6.6 |
| FY2012 | Dec 31, 2012 | 1.6% | −0.2 |
| FY2011 | Dec 31, 2011 | 1.8% | −5.2 |
| FY2010 | Dec 31, 2010 | 7.0% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 14.1% | −0.8 |
| Q2 FY2026 | Jun 30, 2026 | 14.6% | +1.9 |
| Q1 FY2026 | Mar 31, 2026 | 14.7% | +3.1 |
| Q4 FY2025 | Dec 31, 2025 | 17.3% | +1.2 |
| Q3 FY2025 | Sep 30, 2025 | 14.9% | +5.3 |
| Q2 FY2025 | Jun 30, 2025 | 12.7% | +6.5 |
| Q1 FY2025 | Mar 31, 2025 | 11.6% | +2.0 |
| Q4 FY2024 | Dec 31, 2024 | 16.1% | +5.7 |
| Q3 FY2024 | Sep 30, 2024 | 9.6% | +8.7 |
| Q2 FY2024 | Jun 30, 2024 | 6.2% | +11.5 |
| Q1 FY2024 | Mar 31, 2024 | 9.7% | +8.7 |
| Q4 FY2023 | Dec 31, 2023 | 10.3% | +12.9 |
| Q3 FY2023 | Sep 30, 2023 | 0.9% | −3.0 |
| Q2 FY2023 | Jun 30, 2023 | -5.3% | −14.2 |
| Q1 FY2023 | Mar 31, 2023 | 0.9% | −10.7 |
| Q4 FY2022 | Dec 31, 2022 | -2.6% | −14.4 |
| Q3 FY2022 | Sep 30, 2022 | 3.9% | +0.3 |
| Q2 FY2022 | Jun 30, 2022 | 8.9% | −1.7 |
| Q1 FY2022 | Mar 31, 2022 | 11.6% | +5.0 |
| Q4 FY2021 | Dec 31, 2021 | 11.8% | +0.2 |
| Q3 FY2021 | Sep 30, 2021 | 3.7% | −6.6 |
| Q2 FY2021 | Jun 30, 2021 | 10.6% | +3.4 |
| Q1 FY2021 | Mar 31, 2021 | 6.6% | −4.4 |
| Q4 FY2020 | Dec 31, 2020 | 11.6% | +2.8 |
| Q3 FY2020 | Sep 30, 2020 | 10.3% | −0.1 |
| Q2 FY2020 | Jun 30, 2020 | 7.3% | −1.7 |
| Q1 FY2020 | Mar 31, 2020 | 11.1% | +2.1 |
| Q4 FY2019 | Dec 31, 2019 | 8.8% | +0.3 |
| Q3 FY2019 | Sep 30, 2019 | 10.4% | +0.7 |
| Q2 FY2019 | Jun 30, 2019 | 8.9% | −0.5 |
| Q1 FY2019 | Mar 31, 2019 | 9.0% | +0.5 |
| Q4 FY2018 | Dec 31, 2018 | 8.4% | −1.5 |
| Q3 FY2018 | Sep 30, 2018 | 9.7% | +1.7 |
| Q2 FY2018 | Jun 30, 2018 | 9.5% | −1.8 |
| Q1 FY2018 | Mar 31, 2018 | 8.5% | +1.9 |
| Q4 FY2017 | Dec 31, 2017 | 10.0% | +22.1 |
| Q3 FY2017 | Sep 30, 2017 | 7.9% | – |
| Q2 FY2017 | Jun 30, 2017 | 11.3% | – |
| Q1 FY2017 | Mar 31, 2017 | 6.7% | – |
| Q4 FY2016 | Dec 31, 2016 | -12.1% | – |
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