How do NVR, Inc. and HANOVER INSURANCE GROUP, INC. compare by revenue?

NVR, Inc. reported revenue of $2.7B in Q4 FY2025, while HANOVER INSURANCE GROUP, INC. reported $1.7B in Q1 FY2026. NVR, Inc. is 1.6× larger by last-quarter revenue.

Which is growing revenue faster, NVR, Inc. or HANOVER INSURANCE GROUP, INC.?

NVR, Inc.'s latest revenue grew -4.7% year-over-year, versus 6.1% for HANOVER INSURANCE GROUP, INC.. HANOVER INSURANCE GROUP, INC. is growing faster on a YoY basis.

Which has a higher net margin, NVR, Inc. or HANOVER INSURANCE GROUP, INC.?

NVR, Inc.'s net margin is 13.4% vs HANOVER INSURANCE GROUP, INC.'s 11.0%. NVR, Inc. has the higher bottom-line margin.

What is the 2-year revenue CAGR for NVR, Inc. vs HANOVER INSURANCE GROUP, INC.?

Over the trailing 8 quarters, NVR, Inc. compounded revenue at roughly 7.8% per year, versus 5.2% for HANOVER INSURANCE GROUP, INC.. NVR, Inc. has the faster medium-term growth trajectory.

Where does this NVR vs THG data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

vs

Side-by-side financial comparison of NVR, Inc. (NVR) and HANOVER INSURANCE GROUP, INC. (THG). Click either name above to swap in a different company.

NVR, Inc. is the larger business by last-quarter revenue ($2.7B vs $1.7B, roughly 1.6× HANOVER INSURANCE GROUP, INC.). NVR, Inc. runs the higher net margin — 13.4% vs 11.0%, a 2.4% gap on every dollar of revenue. On growth, HANOVER INSURANCE GROUP, INC. posted the faster year-over-year revenue change (6.1% vs -4.7%). Over the past eight quarters, NVR, Inc.'s revenue compounded faster (7.8% CAGR vs 5.2%).

NVR, Inc.NVREarnings & Financial Report

NYSE · Consumer Discretionary · Homebuilding

NVR, Inc. is an American company engaged in home construction headquartered in Reston, Virginia. It also operates a mortgage banking and title services business. The company primarily operates on the East Coast of the United States, but its operations encompass 14 states as well as Washington, D.C. In 2021, 22% of the company's revenue was from the Washington metropolitan area.

HANOVER INSURANCE GROUP, INC.THGEarnings & Financial Report

NYSE · Financials · Fire, Marine & Casualty Insurance

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.

NVR vs THG — Head-to-Head

Bigger by revenue

NVR

1.6× larger

$2.7B

$1.7B

Growing faster (revenue YoY)

THG

+10.8% gap

6.1%

-4.7%

Higher net margin

NVR

2.4% more per $

13.4%

11.0%

Faster 2-yr revenue CAGR

NVR

Annualised

7.8%

5.2%

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric	NVR	THG
Revenue	$2.7B	$1.7B
Net Profit	$363.8M	$186.8M
Gross Margin	—	—
Operating Margin	—	11.1%
Net Margin	13.4%	11.0%
Revenue YoY	-4.7%	6.1%
Net Profit YoY	-20.5%	45.7%
EPS (diluted)	$120.85	—

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.

Revenue

NVR

THG

Q1 26	—	$1.7B
Q4 25	$2.7B	$1.7B
Q3 25	$2.6B	$1.7B
Q2 25	$2.6B	$1.7B
Q1 25	$2.4B	$1.6B
Q4 24	$2.8B	$1.6B
Q3 24	$2.7B	$1.6B
Q2 24	$2.6B	$1.5B

Net Profit

NVR

THG

Q1 26	—	$186.8M
Q4 25	$363.8M	$198.5M
Q3 25	$342.7M	$178.7M
Q2 25	$333.7M	$157.1M
Q1 25	$299.6M	$128.2M
Q4 24	$457.4M	$167.9M
Q3 24	$429.3M	$102.1M
Q2 24	$400.9M	$40.5M

Operating Margin

NVR

THG

Q1 26	—	11.1%
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%

Net Margin

NVR

THG

Q1 26	—	11.0%
Q4 25	13.4%	11.9%
Q3 25	13.1%	10.7%
Q2 25	12.8%	9.5%
Q1 25	12.5%	8.0%
Q4 24	16.1%	10.6%
Q3 24	15.7%	6.5%
Q2 24	15.3%	2.6%

EPS (diluted)

NVR

THG

Q1 26	—	—
Q4 25	$120.85	$5.46
Q3 25	$112.33	$4.90
Q2 25	$108.54	$4.30
Q1 25	$94.83	$3.50
Q4 24	$139.09	$4.60
Q3 24	$130.50	$2.80
Q2 24	$120.69	$1.12

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	NVR	THG
Cash + ST InvestmentsLiquidity on hand	—	$243.5M
Total DebtLower is stronger	—	$843.8M
Stockholders' EquityBook value	$3.9B	$3.0B
Total Assets	$5.9B	$16.5B
Debt / EquityLower = less leverage	—	0.28×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

NVR

THG

Q1 26	—	$243.5M
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

Total Debt

NVR

THG

Q1 26	—	$843.8M
Q4 25	—	$843.3M
Q3 25	—	$843.0M
Q2 25	—	$347.8M
Q1 25	—	$722.5M
Q4 24	—	$722.3M
Q3 24	—	—
Q2 24	—	—

Stockholders' Equity

NVR

THG

Q1 26	—	$3.0B
Q4 25	$3.9B	$3.6B
Q3 25	$4.0B	$3.4B
Q2 25	$3.8B	$3.2B
Q1 25	$4.0B	$3.0B
Q4 24	$4.2B	$2.8B
Q3 24	$4.3B	$2.9B
Q2 24	$4.1B	$2.6B

Total Assets

NVR

THG

Q1 26	—	$16.5B
Q4 25	$5.9B	$16.9B
Q3 25	$6.0B	$16.8B
Q2 25	$5.9B	$15.7B
Q1 25	$6.2B	$15.5B
Q4 24	$6.4B	$15.3B
Q3 24	$6.5B	$15.4B
Q2 24	$6.4B	$14.9B

Debt / Equity

NVR

THG

Q1 26	—	0.28×
Q4 25	—	0.24×
Q3 25	—	0.25×
Q2 25	—	0.11×
Q1 25	—	0.24×
Q4 24	—	0.25×
Q3 24	—	—
Q2 24	—	—

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	NVR	THG
Operating Cash FlowLast quarter	$439.7M	—
Free Cash FlowOCF − Capex	$436.0M	—
FCF MarginFCF / Revenue	16.1%	—
Capex IntensityCapex / Revenue	0.1%	—
Cash ConversionOCF / Net Profit	1.21×	—
TTM Free Cash FlowTrailing 4 quarters	$1.1B	—