Hanover Insurance (THG) Operating Margin (2009 - 2026)
Hanover Insurance (THG) recorded Operating Margin of -41.59% in Q2 2026, up 4.03 percentage points from -45.62% a year earlier and up 0.57 percentage points from the prior quarter.
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Analysis
Hanover Insurance (THG) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Hanover Insurance's Operating Margin came in at -40.37% as of Jun 30, 2026, up 5.34 percentage points year-over-year; for FY2025, it came in at -42.76%, up 7.04 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +6.99 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at -49.80% in FY2024 (+17.59 pp), -67.39% in FY2023 (-3.77 pp), -63.63% in FY2022 (-13.64 pp) and -49.98% in FY2021 (-0.23 pp).
- Quarterly Operating Margin has ranged from -89.87% in Q4 2022 to -36.43% in Q4 2025 over the past five years.
- On a year-over-year basis, Operating Margin has increased for 11 consecutive quarters, with an average year-over-year change of +8.44 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 39.86 percentage points in Q4 2023, against a drop of 49.31 percentage points in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at -42.16% (Q1 2026), -36.43% (Q4 2025) and -41.28% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,083.69 Bn | -333.79 Bn | 55.86 Bn | -29.67% |
| 2 | Chubb | 127.81 Bn | 79.86 Bn | 9.13 Bn | -19.39% |
| 3 | Progressive | 121.79 Bn | 97.63 Bn | 9.04 Bn | -43.89% |
| 4 | Marsh & Mclennan Companies | 80.80 Bn | 72.54 Bn | - | 25.65% |
| 5 | Travelers Companies | 75.76 Bn | 52.01 Bn | 6.23 Bn | -25.96% |
| 6 | Manulife Financial | 74.06 Bn | 75.27 Bn | - | - |
| 7 | Metlife | 61.12 Bn | -45.36 Bn | 7.82 Bn | -53.77% |
| 8 | Arthur J. Gallagher | 58.82 Bn | 53.25 Bn | - | - |
| 9 | Allstate | 57.81 Bn | 19.06 Bn | 8.73 Bn | -30.76% |
| 10 | Hanover Insurance | 7.57 Bn | 4.27 Bn | 763.70 Mn | -41.59% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -41.59% |
| Mar 31, 2026 | -42.16% |
| Dec 31, 2025 | -36.43% |
| Sep 30, 2025 | -41.28% |
| Jun 30, 2025 | -45.62% |
| Mar 31, 2025 | -47.96% |
| Dec 31, 2024 | -37.97% |
| Sep 30, 2024 | -51.46% |
| Jun 30, 2024 | -58.67% |
| Mar 31, 2024 | -50.93% |
| Dec 31, 2023 | -50.01% |
| Sep 30, 2023 | -69.37% |
| Jun 30, 2023 | -81.47% |
| Mar 31, 2023 | -68.99% |
| Dec 31, 2022 | -89.87% |
| Sep 30, 2022 | -63.36% |
| Jun 30, 2022 | -53.94% |
| Mar 31, 2022 | -47.65% |
| Dec 31, 2021 | -40.55% |
| Sep 30, 2021 | -62.87% |
API Access
Hanover Insurance Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=THG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "THG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=THG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();