vs
Side-by-side financial comparison of Microchip Technology (MCHP) 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 $1.2B, roughly 1.4× Microchip Technology). HANOVER INSURANCE GROUP, INC. runs the higher net margin — 11.9% vs 5.3%, a 6.6% gap on every dollar of revenue. On growth, Microchip Technology posted the faster year-over-year revenue change (15.6% vs 5.5%). HANOVER INSURANCE GROUP, INC. produced more free cash flow last quarter ($377.0M vs $318.9M). Over the past eight quarters, HANOVER INSURANCE GROUP, INC.'s revenue compounded faster (3.8% CAGR vs -5.4%).
Microchip Technology Incorporated is an American publicly traded semiconductor corporation that manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.
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.
MCHP vs THG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.7B |
| Net Profit | $62.7M | $198.5M |
| Gross Margin | 59.6% | — |
| Operating Margin | 12.8% | 17.3% |
| Net Margin | 5.3% | 11.9% |
| Revenue YoY | 15.6% | 5.5% |
| Net Profit YoY | 217.0% | 18.2% |
| EPS (diluted) | $0.06 | $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 | $1.2B | $1.7B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $970.5M | $1.6B | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $1.2B | $1.5B | ||
| Q1 24 | $1.3B | $1.6B |
| Q4 25 | $62.7M | $198.5M | ||
| Q3 25 | $41.7M | $178.7M | ||
| Q2 25 | $-18.6M | $157.1M | ||
| Q1 25 | $-154.6M | $128.2M | ||
| Q4 24 | $-53.6M | $167.9M | ||
| Q3 24 | $78.4M | $102.1M | ||
| Q2 24 | $129.3M | $40.5M | ||
| Q1 24 | $154.7M | $115.5M |
| Q4 25 | 59.6% | — | ||
| Q3 25 | 55.9% | — | ||
| Q2 25 | 53.6% | — | ||
| Q1 25 | 51.6% | — | ||
| Q4 24 | 54.7% | — | ||
| Q3 24 | 57.4% | — | ||
| Q2 24 | 59.4% | — | ||
| Q1 24 | 59.6% | — |
| Q4 25 | 12.8% | 17.3% | ||
| Q3 25 | 7.8% | 14.9% | ||
| Q2 25 | 3.0% | 12.7% | ||
| Q1 25 | -10.3% | 11.6% | ||
| Q4 24 | 3.0% | 16.1% | ||
| Q3 24 | 12.6% | 9.6% | ||
| Q2 24 | 17.7% | 6.2% | ||
| Q1 24 | 19.1% | 9.7% |
| Q4 25 | 5.3% | 11.9% | ||
| Q3 25 | 3.7% | 10.7% | ||
| Q2 25 | -1.7% | 9.5% | ||
| Q1 25 | -15.9% | 8.0% | ||
| Q4 24 | -5.2% | 10.6% | ||
| Q3 24 | 6.7% | 6.5% | ||
| Q2 24 | 10.4% | 2.6% | ||
| Q1 24 | 11.7% | 7.4% |
| Q4 25 | $0.06 | $5.46 | ||
| Q3 25 | $0.03 | $4.90 | ||
| Q2 25 | $-0.09 | $4.30 | ||
| Q1 25 | $-0.29 | $3.50 | ||
| Q4 24 | $-0.10 | $4.60 | ||
| Q3 24 | $0.14 | $2.80 | ||
| Q2 24 | $0.24 | $1.12 | ||
| Q1 24 | $0.29 | $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 | $250.7M | $1.1B |
| Total DebtLower is stronger | $5.4B | $843.3M |
| Stockholders' EquityBook value | $6.6B | $3.6B |
| Total Assets | $14.3B | $16.9B |
| Debt / EquityLower = less leverage | 0.82× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $250.7M | $1.1B | ||
| Q3 25 | $236.8M | $915.7M | ||
| Q2 25 | $566.5M | $244.1M | ||
| Q1 25 | $771.7M | $315.1M | ||
| Q4 24 | $586.0M | $435.5M | ||
| Q3 24 | $286.1M | $427.1M | ||
| Q2 24 | $315.1M | $337.6M | ||
| Q1 24 | $319.7M | $264.6M |
| Q4 25 | $5.4B | $843.3M | ||
| Q3 25 | $5.4B | $843.0M | ||
| Q2 25 | $5.5B | $347.8M | ||
| Q1 25 | $5.6B | $722.5M | ||
| Q4 24 | $6.7B | $722.3M | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.0B | — |
| Q4 25 | $6.6B | $3.6B | ||
| Q3 25 | $6.7B | $3.4B | ||
| Q2 25 | $6.9B | $3.2B | ||
| Q1 25 | $7.1B | $3.0B | ||
| Q4 24 | $6.0B | $2.8B | ||
| Q3 24 | $6.3B | $2.9B | ||
| Q2 24 | $6.4B | $2.6B | ||
| Q1 24 | $6.7B | $2.5B |
| Q4 25 | $14.3B | $16.9B | ||
| Q3 25 | $14.5B | $16.8B | ||
| Q2 25 | $15.0B | $15.7B | ||
| Q1 25 | $15.4B | $15.5B | ||
| Q4 24 | $15.6B | $15.3B | ||
| Q3 24 | $15.6B | $15.4B | ||
| Q2 24 | $15.8B | $14.9B | ||
| Q1 24 | $15.9B | $14.6B |
| Q4 25 | 0.82× | 0.24× | ||
| Q3 25 | 0.80× | 0.25× | ||
| Q2 25 | 0.80× | 0.11× | ||
| Q1 25 | 0.80× | 0.24× | ||
| Q4 24 | 1.12× | 0.25× | ||
| Q3 24 | 1.02× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.90× | — |
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 | $341.4M | $378.2M |
| Free Cash FlowOCF − Capex | $318.9M | $377.0M |
| FCF MarginFCF / Revenue | 26.9% | 22.6% |
| Capex IntensityCapex / Revenue | 1.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 5.44× | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | $819.9M | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $341.4M | $378.2M | ||
| Q3 25 | $88.1M | $554.4M | ||
| Q2 25 | $275.6M | $206.6M | ||
| Q1 25 | $205.9M | $38.9M | ||
| Q4 24 | $271.5M | $213.5M | ||
| Q3 24 | $43.6M | $394.7M | ||
| Q2 24 | $377.1M | $139.5M | ||
| Q1 24 | $430.0M | $58.7M |
| Q4 25 | $318.9M | $377.0M | ||
| Q3 25 | $51.6M | $551.4M | ||
| Q2 25 | $257.7M | $204.9M | ||
| Q1 25 | $191.7M | $37.1M | ||
| Q4 24 | $253.4M | $210.5M | ||
| Q3 24 | $22.8M | $392.3M | ||
| Q2 24 | $304.2M | $137.3M | ||
| Q1 24 | $389.9M | $56.1M |
| Q4 25 | 26.9% | 22.6% | ||
| Q3 25 | 4.5% | 33.1% | ||
| Q2 25 | 24.0% | 12.4% | ||
| Q1 25 | 19.8% | 2.3% | ||
| Q4 24 | 24.7% | 13.3% | ||
| Q3 24 | 2.0% | 25.1% | ||
| Q2 24 | 24.5% | 8.9% | ||
| Q1 24 | 29.4% | 3.6% |
| Q4 25 | 1.9% | 0.1% | ||
| Q3 25 | 3.2% | 0.2% | ||
| Q2 25 | 1.7% | 0.1% | ||
| Q1 25 | 1.5% | 0.1% | ||
| Q4 24 | 1.8% | 0.2% | ||
| Q3 24 | 1.8% | 0.2% | ||
| Q2 24 | 5.9% | 0.1% | ||
| Q1 24 | 3.0% | 0.2% |
| Q4 25 | 5.44× | 1.91× | ||
| Q3 25 | 2.11× | 3.10× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | 0.56× | 3.87× | ||
| Q2 24 | 2.92× | 3.44× | ||
| Q1 24 | 2.78× | 0.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MCHP
| Mixed Signal Microcontrollers | $586.5M | 49% |
| Analog | $322.9M | 27% |
| Other Product Line | $276.6M | 23% |
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
