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Side-by-side financial comparison of BRUNSWICK CORP (BC) and HANOVER INSURANCE GROUP, INC. (THG). Click either name above to swap in a different company.
HANOVER INSURANCE GROUP, INC. is the larger business by last-quarter revenue ($1.7B vs $1.3B, roughly 1.3× BRUNSWICK CORP). HANOVER INSURANCE GROUP, INC. runs the higher net margin — 11.9% vs 1.4%, a 10.5% gap on every dollar of revenue. On growth, BRUNSWICK CORP posted the faster year-over-year revenue change (15.5% vs 5.5%). HANOVER INSURANCE GROUP, INC. produced more free cash flow last quarter ($377.0M vs $83.6M). Over the past eight quarters, HANOVER INSURANCE GROUP, INC.'s revenue compounded faster (3.8% CAGR vs -1.1%).
Brunswick Corporation, formerly known as the Brunswick-Balke-Collender Company, is an American corporation that has been developing, manufacturing and marketing a wide variety of products since 1845. Brunswick has more than 13,000 employees in 24 countries. Brunswick owns a number of brands, including Mercury Marine. In 2024, Brunswick reported sales of US$5.2 billion. Brunswick's global headquarters is in the northern Chicago suburb of Mettawa, Illinois.
The Hanover Insurance Group, Inc. is an insurance company based in Worcester, Massachusetts. It was the original name of a property-liability insurance firm established in 1852, and it remained a publicly traded company under that name until the early 1990s, when it changed its name to Allmerica Property & Casualty Companies.
BC vs THG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.7B |
| Net Profit | $18.7M | $198.5M |
| Gross Margin | 23.1% | — |
| Operating Margin | 3.1% | 17.3% |
| Net Margin | 1.4% | 11.9% |
| Revenue YoY | 15.5% | 5.5% |
| Net Profit YoY | 122.7% | 18.2% |
| EPS (diluted) | $0.32 | $5.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.3B | $1.7B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.4B | $1.7B | ||
| Q1 25 | $1.2B | $1.6B | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.4B | $1.6B |
| Q4 25 | $18.7M | $198.5M | ||
| Q3 25 | $-235.5M | $178.7M | ||
| Q2 25 | $59.3M | $157.1M | ||
| Q1 25 | $20.2M | $128.2M | ||
| Q4 24 | $-82.5M | $167.9M | ||
| Q3 24 | $44.6M | $102.1M | ||
| Q2 24 | $100.0M | $40.5M | ||
| Q1 24 | $68.0M | $115.5M |
| Q4 25 | 23.1% | — | ||
| Q3 25 | 25.8% | — | ||
| Q2 25 | 25.5% | — | ||
| Q1 25 | 24.9% | — | ||
| Q4 24 | 21.9% | — | ||
| Q3 24 | 26.2% | — | ||
| Q2 24 | 27.1% | — | ||
| Q1 24 | 27.4% | — |
| Q4 25 | 3.1% | 17.3% | ||
| Q3 25 | -17.8% | 14.9% | ||
| Q2 25 | 7.1% | 12.7% | ||
| Q1 25 | 4.6% | 11.6% | ||
| Q4 24 | -4.8% | 16.1% | ||
| Q3 24 | 7.7% | 9.6% | ||
| Q2 24 | 11.0% | 6.2% | ||
| Q1 24 | 8.1% | 9.7% |
| Q4 25 | 1.4% | 11.9% | ||
| Q3 25 | -17.3% | 10.7% | ||
| Q2 25 | 4.1% | 9.5% | ||
| Q1 25 | 1.7% | 8.0% | ||
| Q4 24 | -7.1% | 10.6% | ||
| Q3 24 | 3.5% | 6.5% | ||
| Q2 24 | 6.9% | 2.6% | ||
| Q1 24 | 5.0% | 7.4% |
| Q4 25 | $0.32 | $5.46 | ||
| Q3 25 | $-3.59 | $4.90 | ||
| Q2 25 | $0.89 | $4.30 | ||
| Q1 25 | $0.30 | $3.50 | ||
| Q4 24 | $-1.21 | $4.60 | ||
| Q3 24 | $0.67 | $2.80 | ||
| Q2 24 | $1.48 | $1.12 | ||
| Q1 24 | $0.99 | $3.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $256.8M | $1.1B |
| Total DebtLower is stronger | $2.1B | $843.3M |
| Stockholders' EquityBook value | $1.6B | $3.6B |
| Total Assets | $5.3B | $16.9B |
| Debt / EquityLower = less leverage | 1.30× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $256.8M | $1.1B | ||
| Q3 25 | $297.7M | $915.7M | ||
| Q2 25 | $315.7M | $244.1M | ||
| Q1 25 | $286.7M | $315.1M | ||
| Q4 24 | $269.0M | $435.5M | ||
| Q3 24 | $284.1M | $427.1M | ||
| Q2 24 | $494.5M | $337.6M | ||
| Q1 24 | $548.4M | $264.6M |
| Q4 25 | $2.1B | $843.3M | ||
| Q3 25 | — | $843.0M | ||
| Q2 25 | — | $347.8M | ||
| Q1 25 | — | $722.5M | ||
| Q4 24 | $2.4B | $722.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.6B | $3.6B | ||
| Q3 25 | $1.6B | $3.4B | ||
| Q2 25 | $1.9B | $3.2B | ||
| Q1 25 | $1.9B | $3.0B | ||
| Q4 24 | $1.9B | $2.8B | ||
| Q3 24 | $2.0B | $2.9B | ||
| Q2 24 | $2.0B | $2.6B | ||
| Q1 24 | $2.0B | $2.5B |
| Q4 25 | $5.3B | $16.9B | ||
| Q3 25 | $5.4B | $16.8B | ||
| Q2 25 | $5.8B | $15.7B | ||
| Q1 25 | $5.9B | $15.5B | ||
| Q4 24 | $5.7B | $15.3B | ||
| Q3 24 | $6.0B | $15.4B | ||
| Q2 24 | $6.4B | $14.9B | ||
| Q1 24 | $6.5B | $14.6B |
| Q4 25 | 1.30× | 0.24× | ||
| Q3 25 | — | 0.25× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | 1.25× | 0.25× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $132.9M | $378.2M |
| Free Cash FlowOCF − Capex | $83.6M | $377.0M |
| FCF MarginFCF / Revenue | 6.3% | 22.6% |
| Capex IntensityCapex / Revenue | 3.7% | 0.1% |
| Cash ConversionOCF / Net Profit | 7.11× | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | $396.3M | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $132.9M | $378.2M | ||
| Q3 25 | $140.4M | $554.4M | ||
| Q2 25 | $316.2M | $206.6M | ||
| Q1 25 | $-27.4M | $38.9M | ||
| Q4 24 | $306.4M | $213.5M | ||
| Q3 24 | $67.4M | $394.7M | ||
| Q2 24 | $211.0M | $139.5M | ||
| Q1 24 | $-153.4M | $58.7M |
| Q4 25 | $83.6M | $377.0M | ||
| Q3 25 | $106.5M | $551.4M | ||
| Q2 25 | $271.3M | $204.9M | ||
| Q1 25 | $-65.1M | $37.1M | ||
| Q4 24 | $276.1M | $210.5M | ||
| Q3 24 | $31.4M | $392.3M | ||
| Q2 24 | $163.9M | $137.3M | ||
| Q1 24 | $-207.4M | $56.1M |
| Q4 25 | 6.3% | 22.6% | ||
| Q3 25 | 7.8% | 33.1% | ||
| Q2 25 | 18.7% | 12.4% | ||
| Q1 25 | -5.3% | 2.3% | ||
| Q4 24 | 23.9% | 13.3% | ||
| Q3 24 | 2.5% | 25.1% | ||
| Q2 24 | 11.4% | 8.9% | ||
| Q1 24 | -15.2% | 3.6% |
| Q4 25 | 3.7% | 0.1% | ||
| Q3 25 | 2.5% | 0.2% | ||
| Q2 25 | 3.1% | 0.1% | ||
| Q1 25 | 3.1% | 0.1% | ||
| Q4 24 | 2.6% | 0.2% | ||
| Q3 24 | 2.8% | 0.2% | ||
| Q2 24 | 3.3% | 0.1% | ||
| Q1 24 | 4.0% | 0.2% |
| Q4 25 | 7.11× | 1.91× | ||
| Q3 25 | — | 3.10× | ||
| Q2 25 | 5.33× | 1.32× | ||
| Q1 25 | -1.36× | 0.30× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | 1.51× | 3.87× | ||
| Q2 24 | 2.11× | 3.44× | ||
| Q1 24 | -2.26× | 0.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BC
| Engine Partsand Accessories | $532.4M | 40% |
| Navico Group | $452.9M | 34% |
| Recreational Fiberglass Boats | $111.6M | 8% |
| Saltwater Fishing Boats | $85.7M | 6% |
| Controls Riggingand Propellers | $78.3M | 6% |
| Business Acceleration | $48.1M | 4% |
| Sterndrive Engine | $32.6M | 2% |
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
