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Side-by-side financial comparison of M/I HOMES, INC. (MHO) 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 $1.1B, roughly 1.5× M/I HOMES, INC.). HANOVER INSURANCE GROUP, INC. runs the higher net margin — 11.9% vs 5.6%, a 6.3% gap on every dollar of revenue. On growth, HANOVER INSURANCE GROUP, INC. posted the faster year-over-year revenue change (5.5% vs -4.8%). HANOVER INSURANCE GROUP, INC. produced more free cash flow last quarter ($377.0M vs $-13.0M). Over the past eight quarters, M/I HOMES, INC.'s revenue compounded faster (4.7% CAGR vs 3.8%).
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
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.
MHO vs THG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.7B |
| Net Profit | $64.0M | $198.5M |
| Gross Margin | 17.4% | — |
| Operating Margin | 6.5% | 17.3% |
| Net Margin | 5.6% | 11.9% |
| Revenue YoY | -4.8% | 5.5% |
| Net Profit YoY | -52.1% | 18.2% |
| EPS (diluted) | $2.42 | $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 | $1.1B | $1.7B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $976.1M | $1.6B | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.1B | $1.6B | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | $1.0B | $1.6B |
| Q4 25 | $64.0M | $198.5M | ||
| Q3 25 | $106.5M | $178.7M | ||
| Q2 25 | $121.2M | $157.1M | ||
| Q1 25 | $111.2M | $128.2M | ||
| Q4 24 | $133.5M | $167.9M | ||
| Q3 24 | $145.4M | $102.1M | ||
| Q2 24 | $146.7M | $40.5M | ||
| Q1 24 | $138.1M | $115.5M |
| Q4 25 | 17.4% | — | ||
| Q3 25 | 24.5% | — | ||
| Q2 25 | 24.7% | — | ||
| Q1 25 | 25.9% | — | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 27.1% | — | ||
| Q2 24 | 27.9% | — | ||
| Q1 24 | 27.1% | — |
| Q4 25 | 6.5% | 17.3% | ||
| Q3 25 | 12.0% | 14.9% | ||
| Q2 25 | 13.4% | 12.7% | ||
| Q1 25 | 14.4% | 11.6% | ||
| Q4 24 | 13.6% | 16.1% | ||
| Q3 24 | 15.9% | 9.6% | ||
| Q2 24 | 16.8% | 6.2% | ||
| Q1 24 | 16.6% | 9.7% |
| Q4 25 | 5.6% | 11.9% | ||
| Q3 25 | 9.4% | 10.7% | ||
| Q2 25 | 10.4% | 9.5% | ||
| Q1 25 | 11.4% | 8.0% | ||
| Q4 24 | 11.1% | 10.6% | ||
| Q3 24 | 12.7% | 6.5% | ||
| Q2 24 | 13.2% | 2.6% | ||
| Q1 24 | 13.2% | 7.4% |
| Q4 25 | $2.42 | $5.46 | ||
| Q3 25 | $3.92 | $4.90 | ||
| Q2 25 | $4.42 | $4.30 | ||
| Q1 25 | $3.98 | $3.50 | ||
| Q4 24 | $4.71 | $4.60 | ||
| Q3 24 | $5.10 | $2.80 | ||
| Q2 24 | $5.12 | $1.12 | ||
| Q1 24 | $4.78 | $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 | $3.2B | $3.6B |
| Total Assets | $4.8B | $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 | $3.2B | $3.6B | ||
| Q3 25 | $3.1B | $3.4B | ||
| Q2 25 | $3.1B | $3.2B | ||
| Q1 25 | $3.0B | $3.0B | ||
| Q4 24 | $2.9B | $2.8B | ||
| Q3 24 | $2.8B | $2.9B | ||
| Q2 24 | $2.7B | $2.6B | ||
| Q1 24 | $2.6B | $2.5B |
| Q4 25 | $4.8B | $16.9B | ||
| Q3 25 | $4.8B | $16.8B | ||
| Q2 25 | $4.7B | $15.7B | ||
| Q1 25 | $4.6B | $15.5B | ||
| Q4 24 | $4.5B | $15.3B | ||
| Q3 24 | $4.5B | $15.4B | ||
| Q2 24 | $4.3B | $14.9B | ||
| Q1 24 | $4.2B | $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 | $-8.7M | $378.2M |
| Free Cash FlowOCF − Capex | $-13.0M | $377.0M |
| FCF MarginFCF / Revenue | -1.1% | 22.6% |
| Capex IntensityCapex / Revenue | 0.4% | 0.1% |
| Cash ConversionOCF / Net Profit | -0.14× | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | $127.7M | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $378.2M | ||
| Q3 25 | $43.4M | $554.4M | ||
| Q2 25 | $37.8M | $206.6M | ||
| Q1 25 | $64.9M | $38.9M | ||
| Q4 24 | $104.4M | $213.5M | ||
| Q3 24 | $-67.9M | $394.7M | ||
| Q2 24 | $27.5M | $139.5M | ||
| Q1 24 | $115.8M | $58.7M |
| Q4 25 | $-13.0M | $377.0M | ||
| Q3 25 | $42.0M | $551.4M | ||
| Q2 25 | $35.1M | $204.9M | ||
| Q1 25 | $63.5M | $37.1M | ||
| Q4 24 | $102.3M | $210.5M | ||
| Q3 24 | $-68.5M | $392.3M | ||
| Q2 24 | $22.0M | $137.3M | ||
| Q1 24 | $115.5M | $56.1M |
| Q4 25 | -1.1% | 22.6% | ||
| Q3 25 | 3.7% | 33.1% | ||
| Q2 25 | 3.0% | 12.4% | ||
| Q1 25 | 6.5% | 2.3% | ||
| Q4 24 | 8.5% | 13.3% | ||
| Q3 24 | -6.0% | 25.1% | ||
| Q2 24 | 2.0% | 8.9% | ||
| Q1 24 | 11.0% | 3.6% |
| Q4 25 | 0.4% | 0.1% | ||
| Q3 25 | 0.1% | 0.2% | ||
| Q2 25 | 0.2% | 0.1% | ||
| Q1 25 | 0.1% | 0.1% | ||
| Q4 24 | 0.2% | 0.2% | ||
| Q3 24 | 0.1% | 0.2% | ||
| Q2 24 | 0.5% | 0.1% | ||
| Q1 24 | 0.0% | 0.2% |
| Q4 25 | -0.14× | 1.91× | ||
| Q3 25 | 0.41× | 3.10× | ||
| Q2 25 | 0.31× | 1.32× | ||
| Q1 25 | 0.58× | 0.30× | ||
| Q4 24 | 0.78× | 1.27× | ||
| Q3 24 | -0.47× | 3.87× | ||
| Q2 24 | 0.19× | 3.44× | ||
| Q1 24 | 0.84× | 0.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
