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Side-by-side financial comparison of Ovintiv Inc. (OVV) and HANOVER INSURANCE GROUP, INC. (THG). Click either name above to swap in a different company.
Ovintiv Inc. is the larger business by last-quarter revenue ($2.1B vs $1.7B, roughly 1.2× HANOVER INSURANCE GROUP, INC.). Ovintiv Inc. runs the higher net margin — 46.1% vs 11.0%, a 35.1% gap on every dollar of revenue. On growth, HANOVER INSURANCE GROUP, INC. posted the faster year-over-year revenue change (6.1% vs -6.0%). Over the past eight quarters, HANOVER INSURANCE GROUP, INC.'s revenue compounded faster (5.2% CAGR vs -7.2%).
Ovintiv Inc. is a U.S. petroleum company based in Denver. The company was formed in 2020 through a restructuring of its Canadian predecessor, Encana.
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.
OVV vs THG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $1.7B |
| Net Profit | $946.0M | $186.8M |
| Gross Margin | — | — |
| Operating Margin | 21.2% | 11.1% |
| Net Margin | 46.1% | 11.0% |
| Revenue YoY | -6.0% | 6.1% |
| Net Profit YoY | 1676.7% | 45.7% |
| EPS (diluted) | $3.64 | — |
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.
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.1B | $1.7B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $2.2B | $1.7B | ||
| Q1 25 | $2.4B | $1.6B | ||
| Q4 24 | $2.2B | $1.6B | ||
| Q3 24 | $2.2B | $1.6B | ||
| Q2 24 | $2.2B | $1.5B |
| Q1 26 | — | $186.8M | ||
| Q4 25 | $946.0M | $198.5M | ||
| Q3 25 | $148.0M | $178.7M | ||
| Q2 25 | $307.0M | $157.1M | ||
| Q1 25 | $-159.0M | $128.2M | ||
| Q4 24 | $-60.0M | $167.9M | ||
| Q3 24 | $507.0M | $102.1M | ||
| Q2 24 | $340.0M | $40.5M |
| Q1 26 | — | 11.1% | ||
| Q4 25 | 21.2% | 17.3% | ||
| Q3 25 | 13.5% | 14.9% | ||
| Q2 25 | 23.1% | 12.7% | ||
| Q1 25 | -3.7% | 11.6% | ||
| Q4 24 | 0.1% | 16.1% | ||
| Q3 24 | 24.2% | 9.6% | ||
| Q2 24 | 25.4% | 6.2% |
| Q1 26 | — | 11.0% | ||
| Q4 25 | 46.1% | 11.9% | ||
| Q3 25 | 7.3% | 10.7% | ||
| Q2 25 | 13.9% | 9.5% | ||
| Q1 25 | -6.7% | 8.0% | ||
| Q4 24 | -2.7% | 10.6% | ||
| Q3 24 | 23.3% | 6.5% | ||
| Q2 24 | 15.5% | 2.6% |
| Q1 26 | — | — | ||
| Q4 25 | $3.64 | $5.46 | ||
| Q3 25 | $0.57 | $4.90 | ||
| Q2 25 | $1.18 | $4.30 | ||
| Q1 25 | $-0.61 | $3.50 | ||
| Q4 24 | $-0.22 | $4.60 | ||
| Q3 24 | $1.92 | $2.80 | ||
| Q2 24 | $1.27 | $1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $280.0M | $243.5M |
| Total DebtLower is stronger | $5.2B | $843.8M |
| Stockholders' EquityBook value | $11.2B | $3.0B |
| Total Assets | $20.4B | $16.5B |
| Debt / EquityLower = less leverage | 0.46× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $243.5M | ||
| Q4 25 | $280.0M | $1.1B | ||
| Q3 25 | $25.0M | $915.7M | ||
| Q2 25 | $20.0M | $244.1M | ||
| Q1 25 | $8.0M | $315.1M | ||
| Q4 24 | $42.0M | $435.5M | ||
| Q3 24 | $9.0M | $427.1M | ||
| Q2 24 | $8.0M | $337.6M |
| Q1 26 | — | $843.8M | ||
| Q4 25 | $5.2B | $843.3M | ||
| Q3 25 | $5.2B | $843.0M | ||
| Q2 25 | $5.3B | $347.8M | ||
| Q1 25 | $5.5B | $722.5M | ||
| Q4 24 | $5.5B | $722.3M | ||
| Q3 24 | $5.9B | — | ||
| Q2 24 | $6.1B | — |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $11.2B | $3.6B | ||
| Q3 25 | $10.2B | $3.4B | ||
| Q2 25 | $10.4B | $3.2B | ||
| Q1 25 | $10.1B | $3.0B | ||
| Q4 24 | $10.3B | $2.8B | ||
| Q3 24 | $10.7B | $2.9B | ||
| Q2 24 | $10.3B | $2.6B |
| Q1 26 | — | $16.5B | ||
| Q4 25 | $20.4B | $16.9B | ||
| Q3 25 | $19.4B | $16.8B | ||
| Q2 25 | $19.7B | $15.7B | ||
| Q1 25 | $19.6B | $15.5B | ||
| Q4 24 | $19.3B | $15.3B | ||
| Q3 24 | $19.9B | $15.4B | ||
| Q2 24 | $19.8B | $14.9B |
| Q1 26 | — | 0.28× | ||
| Q4 25 | 0.46× | 0.24× | ||
| Q3 25 | 0.51× | 0.25× | ||
| Q2 25 | 0.51× | 0.11× | ||
| Q1 25 | 0.55× | 0.24× | ||
| Q4 24 | 0.53× | 0.25× | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.59× | — |
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 | $954.0M | — |
| Free Cash FlowOCF − Capex | $489.0M | — |
| FCF MarginFCF / Revenue | 23.8% | — |
| Capex IntensityCapex / Revenue | 22.6% | — |
| Cash ConversionOCF / Net Profit | 1.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $954.0M | $378.2M | ||
| Q3 25 | $812.0M | $554.4M | ||
| Q2 25 | $1.0B | $206.6M | ||
| Q1 25 | $873.0M | $38.9M | ||
| Q4 24 | $1.0B | $213.5M | ||
| Q3 24 | $1.0B | $394.7M | ||
| Q2 24 | $1.0B | $139.5M |
| Q1 26 | — | — | ||
| Q4 25 | $489.0M | $377.0M | ||
| Q3 25 | $268.0M | $551.4M | ||
| Q2 25 | $492.0M | $204.9M | ||
| Q1 25 | $256.0M | $37.1M | ||
| Q4 24 | $468.0M | $210.5M | ||
| Q3 24 | $484.0M | $392.3M | ||
| Q2 24 | $398.0M | $137.3M |
| Q1 26 | — | — | ||
| Q4 25 | 23.8% | 22.6% | ||
| Q3 25 | 13.3% | 33.1% | ||
| Q2 25 | 22.2% | 12.4% | ||
| Q1 25 | 10.8% | 2.3% | ||
| Q4 24 | 21.4% | 13.3% | ||
| Q3 24 | 22.2% | 25.1% | ||
| Q2 24 | 18.1% | 8.9% |
| Q1 26 | — | — | ||
| Q4 25 | 22.6% | 0.1% | ||
| Q3 25 | 26.9% | 0.2% | ||
| Q2 25 | 23.5% | 0.1% | ||
| Q1 25 | 26.0% | 0.1% | ||
| Q4 24 | 25.3% | 0.2% | ||
| Q3 24 | 24.7% | 0.2% | ||
| Q2 24 | 28.4% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.01× | 1.91× | ||
| Q3 25 | 5.49× | 3.10× | ||
| Q2 25 | 3.30× | 1.32× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | 2.02× | 3.87× | ||
| Q2 24 | 3.00× | 3.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OVV
| Product And Service Revenue | $1.7B | 84% |
| Sales Of Purchased Product | $338.0M | 16% |
THG
| Premiums earned | $1.6B | 92% |
| Other | $124.6M | 7% |
| Fees and other income | $6.2M | 0% |
