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Side-by-side financial comparison of KB HOME (KBH) and HANOVER INSURANCE GROUP, INC. (THG). Click either name above to swap in a different company.
KB HOME is the larger business by last-quarter revenue ($1.7B vs $1.7B, roughly 1.0× HANOVER INSURANCE GROUP, INC.). HANOVER INSURANCE GROUP, INC. runs the higher net margin — 11.9% vs 6.0%, a 5.9% gap on every dollar of revenue. On growth, HANOVER INSURANCE GROUP, INC. posted the faster year-over-year revenue change (5.5% vs -15.3%). HANOVER INSURANCE GROUP, INC. produced more free cash flow last quarter ($377.0M vs $290.1M). Over the past eight quarters, KB HOME's revenue compounded faster (7.4% CAGR vs 3.8%).
KB Home is an American homebuilding company founded in 1957 as Kaufman & Broad in Detroit, Michigan. It was the first company to be traded on the New York Stock Exchange as a home builder. Its headquarters are in Los Angeles, California.
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.
KBH vs THG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $1.7B |
| Net Profit | $101.5M | $198.5M |
| Gross Margin | — | — |
| Operating Margin | — | 17.3% |
| Net Margin | 6.0% | 11.9% |
| Revenue YoY | -15.3% | 5.5% |
| Net Profit YoY | -46.7% | 18.2% |
| EPS (diluted) | $1.55 | $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 | $1.7B | $1.7B | ||
| Q3 25 | $1.6B | $1.7B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $2.0B | $1.6B | ||
| Q3 24 | $1.8B | $1.6B | ||
| Q2 24 | $1.7B | $1.5B | ||
| Q1 24 | $1.5B | $1.6B |
| Q4 25 | $101.5M | $198.5M | ||
| Q3 25 | $109.8M | $178.7M | ||
| Q2 25 | $107.9M | $157.1M | ||
| Q1 25 | $109.6M | $128.2M | ||
| Q4 24 | $190.6M | $167.9M | ||
| Q3 24 | $157.3M | $102.1M | ||
| Q2 24 | $168.4M | $40.5M | ||
| Q1 24 | $138.7M | $115.5M |
| Q4 25 | — | 17.3% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | — | 12.7% | ||
| Q1 25 | — | 11.6% | ||
| Q4 24 | — | 16.1% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | — | 6.2% | ||
| Q1 24 | — | 9.7% |
| Q4 25 | 6.0% | 11.9% | ||
| Q3 25 | 6.8% | 10.7% | ||
| Q2 25 | 7.1% | 9.5% | ||
| Q1 25 | 7.9% | 8.0% | ||
| Q4 24 | 9.5% | 10.6% | ||
| Q3 24 | 9.0% | 6.5% | ||
| Q2 24 | 9.9% | 2.6% | ||
| Q1 24 | 9.4% | 7.4% |
| Q4 25 | $1.55 | $5.46 | ||
| Q3 25 | $1.61 | $4.90 | ||
| Q2 25 | $1.50 | $4.30 | ||
| Q1 25 | $1.49 | $3.50 | ||
| Q4 24 | $2.50 | $4.60 | ||
| Q3 24 | $2.04 | $2.80 | ||
| Q2 24 | $2.15 | $1.12 | ||
| Q1 24 | $1.76 | $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 | — | $1.1B |
| Total DebtLower is stronger | — | $843.3M |
| Stockholders' EquityBook value | $3.9B | $3.6B |
| Total Assets | $6.7B | $16.9B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $915.7M | ||
| Q2 25 | — | $244.1M | ||
| Q1 25 | — | $315.1M | ||
| Q4 24 | — | $435.5M | ||
| Q3 24 | — | $427.1M | ||
| Q2 24 | — | $337.6M | ||
| Q1 24 | — | $264.6M |
| Q4 25 | — | $843.3M | ||
| Q3 25 | — | $843.0M | ||
| Q2 25 | — | $347.8M | ||
| Q1 25 | — | $722.5M | ||
| Q4 24 | — | $722.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.9B | $3.6B | ||
| Q3 25 | $3.9B | $3.4B | ||
| Q2 25 | $4.0B | $3.2B | ||
| Q1 25 | $4.1B | $3.0B | ||
| Q4 24 | $4.1B | $2.8B | ||
| Q3 24 | $4.0B | $2.9B | ||
| Q2 24 | $4.0B | $2.6B | ||
| Q1 24 | $3.9B | $2.5B |
| Q4 25 | $6.7B | $16.9B | ||
| Q3 25 | $7.0B | $16.8B | ||
| Q2 25 | $7.0B | $15.7B | ||
| Q1 25 | $7.0B | $15.5B | ||
| Q4 24 | $6.9B | $15.3B | ||
| Q3 24 | $6.8B | $15.4B | ||
| Q2 24 | $6.8B | $14.9B | ||
| Q1 24 | $6.7B | $14.6B |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.25× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 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 | $303.8M | $378.2M |
| Free Cash FlowOCF − Capex | $290.1M | $377.0M |
| FCF MarginFCF / Revenue | 17.1% | 22.6% |
| Capex IntensityCapex / Revenue | 0.8% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.99× | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | $287.3M | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $303.8M | $378.2M | ||
| Q3 25 | $197.7M | $554.4M | ||
| Q2 25 | $168.4M | $206.6M | ||
| Q1 25 | $-334.3M | $38.9M | ||
| Q4 24 | $362.6M | $213.5M | ||
| Q3 24 | $-89.9M | $394.7M | ||
| Q2 24 | $61.5M | $139.5M | ||
| Q1 24 | $28.5M | $58.7M |
| Q4 25 | $290.1M | $377.0M | ||
| Q3 25 | $185.8M | $551.4M | ||
| Q2 25 | $156.9M | $204.9M | ||
| Q1 25 | $-345.5M | $37.1M | ||
| Q4 24 | $352.6M | $210.5M | ||
| Q3 24 | $-99.4M | $392.3M | ||
| Q2 24 | $51.2M | $137.3M | ||
| Q1 24 | $19.1M | $56.1M |
| Q4 25 | 17.1% | 22.6% | ||
| Q3 25 | 11.5% | 33.1% | ||
| Q2 25 | 10.3% | 12.4% | ||
| Q1 25 | -24.8% | 2.3% | ||
| Q4 24 | 17.6% | 13.3% | ||
| Q3 24 | -5.7% | 25.1% | ||
| Q2 24 | 3.0% | 8.9% | ||
| Q1 24 | 1.3% | 3.6% |
| Q4 25 | 0.8% | 0.1% | ||
| Q3 25 | 0.7% | 0.2% | ||
| Q2 25 | 0.8% | 0.1% | ||
| Q1 25 | 0.8% | 0.1% | ||
| Q4 24 | 0.5% | 0.2% | ||
| Q3 24 | 0.5% | 0.2% | ||
| Q2 24 | 0.6% | 0.1% | ||
| Q1 24 | 0.6% | 0.2% |
| Q4 25 | 2.99× | 1.91× | ||
| Q3 25 | 1.80× | 3.10× | ||
| Q2 25 | 1.56× | 1.32× | ||
| Q1 25 | -3.05× | 0.30× | ||
| Q4 24 | 1.90× | 1.27× | ||
| Q3 24 | -0.57× | 3.87× | ||
| Q2 24 | 0.37× | 3.44× | ||
| Q1 24 | 0.21× | 0.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KBH
| Home Building | $1.7B | 99% |
| Financial Service | $8.7M | 1% |
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
