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Side-by-side financial comparison of Primoris Services Corp (PRIM) and HANOVER INSURANCE GROUP, INC. (THG). Click either name above to swap in a different company.
Primoris Services Corp is the larger business by last-quarter revenue ($1.9B vs $1.7B, roughly 1.1× HANOVER INSURANCE GROUP, INC.). HANOVER INSURANCE GROUP, INC. runs the higher net margin — 11.0% vs 2.8%, a 8.2% gap on every dollar of revenue. On growth, Primoris Services Corp posted the faster year-over-year revenue change (6.7% vs 6.1%). Over the past eight quarters, Primoris Services Corp's revenue compounded faster (14.7% CAGR vs 5.2%).
Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. As of 2014 it was a Fortune 1000 company.
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.
PRIM vs THG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.7B |
| Net Profit | $51.7M | $186.8M |
| Gross Margin | 9.4% | — |
| Operating Margin | 4.2% | 11.1% |
| Net Margin | 2.8% | 11.0% |
| Revenue YoY | 6.7% | 6.1% |
| Net Profit YoY | -4.2% | 45.7% |
| EPS (diluted) | $0.94 | — |
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 | $1.9B | $1.7B | ||
| Q3 25 | $2.2B | $1.7B | ||
| Q2 25 | $1.9B | $1.7B | ||
| Q1 25 | $1.6B | $1.6B | ||
| Q4 24 | $1.7B | $1.6B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.6B | $1.5B |
| Q1 26 | — | $186.8M | ||
| Q4 25 | $51.7M | $198.5M | ||
| Q3 25 | $94.6M | $178.7M | ||
| Q2 25 | $84.3M | $157.1M | ||
| Q1 25 | $44.2M | $128.2M | ||
| Q4 24 | $54.0M | $167.9M | ||
| Q3 24 | $58.4M | $102.1M | ||
| Q2 24 | $49.5M | $40.5M |
| Q1 26 | — | — | ||
| Q4 25 | 9.4% | — | ||
| Q3 25 | 10.8% | — | ||
| Q2 25 | 12.3% | — | ||
| Q1 25 | 10.4% | — | ||
| Q4 24 | 10.6% | — | ||
| Q3 24 | 12.0% | — | ||
| Q2 24 | 11.9% | — |
| Q1 26 | — | 11.1% | ||
| Q4 25 | 4.2% | 17.3% | ||
| Q3 25 | 6.3% | 14.9% | ||
| Q2 25 | 6.7% | 12.7% | ||
| Q1 25 | 4.3% | 11.6% | ||
| Q4 24 | 5.0% | 16.1% | ||
| Q3 24 | 6.0% | 9.6% | ||
| Q2 24 | 5.5% | 6.2% |
| Q1 26 | — | 11.0% | ||
| Q4 25 | 2.8% | 11.9% | ||
| Q3 25 | 4.3% | 10.7% | ||
| Q2 25 | 4.5% | 9.5% | ||
| Q1 25 | 2.7% | 8.0% | ||
| Q4 24 | 3.1% | 10.6% | ||
| Q3 24 | 3.5% | 6.5% | ||
| Q2 24 | 3.2% | 2.6% |
| Q1 26 | — | — | ||
| Q4 25 | $0.94 | $5.46 | ||
| Q3 25 | $1.73 | $4.90 | ||
| Q2 25 | $1.54 | $4.30 | ||
| Q1 25 | $0.81 | $3.50 | ||
| Q4 24 | $0.98 | $4.60 | ||
| Q3 24 | $1.07 | $2.80 | ||
| Q2 24 | $0.91 | $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 | $535.5M | $243.5M |
| Total DebtLower is stronger | $469.9M | $843.8M |
| Stockholders' EquityBook value | $1.7B | $3.0B |
| Total Assets | $4.4B | $16.5B |
| Debt / EquityLower = less leverage | 0.28× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $243.5M | ||
| Q4 25 | $535.5M | $1.1B | ||
| Q3 25 | $431.4M | $915.7M | ||
| Q2 25 | $390.3M | $244.1M | ||
| Q1 25 | $351.6M | $315.1M | ||
| Q4 24 | $455.8M | $435.5M | ||
| Q3 24 | $352.7M | $427.1M | ||
| Q2 24 | $207.4M | $337.6M |
| Q1 26 | — | $843.8M | ||
| Q4 25 | $469.9M | $843.3M | ||
| Q3 25 | $486.0M | $843.0M | ||
| Q2 25 | $603.1M | $347.8M | ||
| Q1 25 | $612.0M | $722.5M | ||
| Q4 24 | $734.8M | $722.3M | ||
| Q3 24 | $903.7M | — | ||
| Q2 24 | $933.0M | — |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $1.7B | $3.6B | ||
| Q3 25 | $1.6B | $3.4B | ||
| Q2 25 | $1.5B | $3.2B | ||
| Q1 25 | $1.4B | $3.0B | ||
| Q4 24 | $1.4B | $2.8B | ||
| Q3 24 | $1.4B | $2.9B | ||
| Q2 24 | $1.3B | $2.6B |
| Q1 26 | — | $16.5B | ||
| Q4 25 | $4.4B | $16.9B | ||
| Q3 25 | $4.6B | $16.8B | ||
| Q2 25 | $4.5B | $15.7B | ||
| Q1 25 | $4.2B | $15.5B | ||
| Q4 24 | $4.2B | $15.3B | ||
| Q3 24 | $4.2B | $15.4B | ||
| Q2 24 | $4.0B | $14.9B |
| Q1 26 | — | 0.28× | ||
| Q4 25 | 0.28× | 0.24× | ||
| Q3 25 | 0.30× | 0.25× | ||
| Q2 25 | 0.39× | 0.11× | ||
| Q1 25 | 0.42× | 0.24× | ||
| Q4 24 | 0.52× | 0.25× | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.72× | — |
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 | $142.9M | — |
| Free Cash FlowOCF − Capex | $121.1M | — |
| FCF MarginFCF / Revenue | 6.5% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 2.76× | — |
| TTM Free Cash FlowTrailing 4 quarters | $340.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $142.9M | $378.2M | ||
| Q3 25 | $182.9M | $554.4M | ||
| Q2 25 | $78.5M | $206.6M | ||
| Q1 25 | $66.2M | $38.9M | ||
| Q4 24 | $298.3M | $213.5M | ||
| Q3 24 | $222.5M | $394.7M | ||
| Q2 24 | $16.1M | $139.5M |
| Q1 26 | — | — | ||
| Q4 25 | $121.1M | $377.0M | ||
| Q3 25 | $148.4M | $551.4M | ||
| Q2 25 | $45.3M | $204.9M | ||
| Q1 25 | $25.6M | $37.1M | ||
| Q4 24 | $270.0M | $210.5M | ||
| Q3 24 | $158.8M | $392.3M | ||
| Q2 24 | $-8.1M | $137.3M |
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | 22.6% | ||
| Q3 25 | 6.8% | 33.1% | ||
| Q2 25 | 2.4% | 12.4% | ||
| Q1 25 | 1.6% | 2.3% | ||
| Q4 24 | 15.5% | 13.3% | ||
| Q3 24 | 9.6% | 25.1% | ||
| Q2 24 | -0.5% | 8.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 0.1% | ||
| Q3 25 | 1.6% | 0.2% | ||
| Q2 25 | 1.8% | 0.1% | ||
| Q1 25 | 2.5% | 0.1% | ||
| Q4 24 | 1.6% | 0.2% | ||
| Q3 24 | 3.9% | 0.2% | ||
| Q2 24 | 1.5% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.76× | 1.91× | ||
| Q3 25 | 1.93× | 3.10× | ||
| Q2 25 | 0.93× | 1.32× | ||
| Q1 25 | 1.50× | 0.30× | ||
| Q4 24 | 5.53× | 1.27× | ||
| Q3 24 | 3.81× | 3.87× | ||
| Q2 24 | 0.32× | 3.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
THG
| Premiums earned | $1.6B | 92% |
| Other | $124.6M | 7% |
| Fees and other income | $6.2M | 0% |
