Filing Flows › Hanover Insurance Group (THG) › Q4 2025
Hanover Insurance Group (THG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 20, 2026
Hanover Insurance Group (THG) reported revenue of $1.7B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +0.4% from the quarter before. Operating margin was 17.3%, net earnings $198M (11.9% of revenue).
Hanover Insurance Group, Q4 2025: revenue $1.7B (+6% year over year), operating margin 17.3%, net earnings $198M, operating cash flow $378M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +0.4% | +6% |
| Operating profit | $289M | +17% | +14% |
| Net earnings | $198M | +11% | +18% |
| Operating cash flow | $378M | -32% | +77% |
| Free cash flow | $377M | -32% | +79% |
What changed
Revenue was $1.7B in Q4 2025, up 6% year over year and roughly flat from the previous quarter.
Operating profit was $0.29B, a 17.3% margin (up 1.2 points year over year). Of the extra revenue versus a year earlier, 40% reached operating profit, above the 16% margin then. Total costs grew 4% against revenue growth of 6%. Net earnings were $0.20B, up 18% year over year. The effective tax rate was 23.4%.
Operating cash flow was $0.38B (up 77% year over year), 191% of net earnings. Non-cash charges added back $0.01B of share-based compensation. Working capital and other items added $0.17B. Capital expenditures of $1.2M left free cash flow of $0.38B.
Questions
What was Hanover Insurance Group's revenue in the fourth quarter 2025?
Hanover Insurance Group (THG) reported revenue of $1.7B for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +0.4% from the quarter before.
Was Hanover Insurance Group profitable in the fourth quarter 2025?
Operating profit was $289M (17.3% of revenue) and net earnings $198M.