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Side-by-side financial comparison of Sinclair, Inc. (SBGI) 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 $836.0M, roughly 2.0× Sinclair, Inc.). Sinclair, Inc. runs the higher net margin — 13.0% vs 11.0%, a 2.1% gap on every dollar of revenue. On growth, HANOVER INSURANCE GROUP, INC. posted the faster year-over-year revenue change (6.1% vs -16.7%). Over the past eight quarters, HANOVER INSURANCE GROUP, INC.'s revenue compounded faster (5.2% CAGR vs 2.4%).
Sinclair, Inc., doing business as Sinclair Broadcast Group, is a publicly traded American telecommunications conglomerate that is controlled by the descendants of company founder Julian Sinclair Smith. Headquartered in the Baltimore suburb of Cockeysville, Maryland, the company is the second-largest television station operator in the United States by number of stations after Nexstar Media Group, owning or operating 193 stations across the country in over 100 markets, covering 40% of American ...
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.
SBGI vs THG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $836.0M | $1.7B |
| Net Profit | $109.0M | $186.8M |
| Gross Margin | — | — |
| Operating Margin | 9.6% | 11.1% |
| Net Margin | 13.0% | 11.0% |
| Revenue YoY | -16.7% | 6.1% |
| Net Profit YoY | -38.1% | 45.7% |
| EPS (diluted) | $1.62 | — |
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 | $836.0M | $1.7B | ||
| Q3 25 | $773.0M | $1.7B | ||
| Q2 25 | $784.0M | $1.7B | ||
| Q1 25 | $776.0M | $1.6B | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $917.0M | $1.6B | ||
| Q2 24 | $829.0M | $1.5B |
| Q1 26 | — | $186.8M | ||
| Q4 25 | $109.0M | $198.5M | ||
| Q3 25 | $-1.0M | $178.7M | ||
| Q2 25 | $-64.0M | $157.1M | ||
| Q1 25 | $-156.0M | $128.2M | ||
| Q4 24 | $176.0M | $167.9M | ||
| Q3 24 | $94.0M | $102.1M | ||
| Q2 24 | $17.0M | $40.5M |
| Q1 26 | — | 11.1% | ||
| Q4 25 | 9.6% | 17.3% | ||
| Q3 25 | 7.5% | 14.9% | ||
| Q2 25 | 2.7% | 12.7% | ||
| Q1 25 | 1.8% | 11.6% | ||
| Q4 24 | 26.5% | 16.1% | ||
| Q3 24 | 19.5% | 9.6% | ||
| Q2 24 | 7.7% | 6.2% |
| Q1 26 | — | 11.0% | ||
| Q4 25 | 13.0% | 11.9% | ||
| Q3 25 | -0.1% | 10.7% | ||
| Q2 25 | -8.2% | 9.5% | ||
| Q1 25 | -20.1% | 8.0% | ||
| Q4 24 | 17.5% | 10.6% | ||
| Q3 24 | 10.3% | 6.5% | ||
| Q2 24 | 2.1% | 2.6% |
| Q1 26 | — | — | ||
| Q4 25 | $1.62 | $5.46 | ||
| Q3 25 | $-0.02 | $4.90 | ||
| Q2 25 | $-0.91 | $4.30 | ||
| Q1 25 | $-2.30 | $3.50 | ||
| Q4 24 | $2.64 | $4.60 | ||
| Q3 24 | $1.43 | $2.80 | ||
| Q2 24 | $0.27 | $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 | $866.0M | $243.5M |
| Total DebtLower is stronger | $4.4B | $843.8M |
| Stockholders' EquityBook value | $443.0M | $3.0B |
| Total Assets | $5.9B | $16.5B |
| Debt / EquityLower = less leverage | 9.84× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $243.5M | ||
| Q4 25 | $866.0M | $1.1B | ||
| Q3 25 | $526.0M | $915.7M | ||
| Q2 25 | $616.0M | $244.1M | ||
| Q1 25 | $631.0M | $315.1M | ||
| Q4 24 | $697.0M | $435.5M | ||
| Q3 24 | $536.0M | $427.1M | ||
| Q2 24 | $378.0M | $337.6M |
| Q1 26 | — | $843.8M | ||
| Q4 25 | $4.4B | $843.3M | ||
| Q3 25 | $4.1B | $843.0M | ||
| Q2 25 | $4.1B | $347.8M | ||
| Q1 25 | $4.2B | $722.5M | ||
| Q4 24 | $4.1B | $722.3M | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $443.0M | $3.6B | ||
| Q3 25 | $347.0M | $3.4B | ||
| Q2 25 | $361.0M | $3.2B | ||
| Q1 25 | $436.0M | $3.0B | ||
| Q4 24 | $583.0M | $2.8B | ||
| Q3 24 | $415.0M | $2.9B | ||
| Q2 24 | $340.0M | $2.6B |
| Q1 26 | — | $16.5B | ||
| Q4 25 | $5.9B | $16.9B | ||
| Q3 25 | $5.6B | $16.8B | ||
| Q2 25 | $5.7B | $15.7B | ||
| Q1 25 | $5.8B | $15.5B | ||
| Q4 24 | $5.9B | $15.3B | ||
| Q3 24 | $5.8B | $15.4B | ||
| Q2 24 | $5.7B | $14.9B |
| Q1 26 | — | 0.28× | ||
| Q4 25 | 9.84× | 0.24× | ||
| Q3 25 | 11.75× | 0.25× | ||
| Q2 25 | 11.30× | 0.11× | ||
| Q1 25 | 9.56× | 0.24× | ||
| Q4 24 | 7.02× | 0.25× | ||
| Q3 24 | 9.86× | — | ||
| Q2 24 | 12.08× | — |
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 | $98.0M | — |
| Free Cash FlowOCF − Capex | $79.0M | — |
| FCF MarginFCF / Revenue | 9.4% | — |
| Capex IntensityCapex / Revenue | 2.3% | — |
| Cash ConversionOCF / Net Profit | 0.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | $115.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $98.0M | $378.2M | ||
| Q3 25 | $-36.0M | $554.4M | ||
| Q2 25 | $122.0M | $206.6M | ||
| Q1 25 | $5.0M | $38.9M | ||
| Q4 24 | $198.0M | $213.5M | ||
| Q3 24 | $210.0M | $394.7M | ||
| Q2 24 | $-306.0M | $139.5M |
| Q1 26 | — | — | ||
| Q4 25 | $79.0M | $377.0M | ||
| Q3 25 | $-58.0M | $551.4M | ||
| Q2 25 | $105.0M | $204.9M | ||
| Q1 25 | $-11.0M | $37.1M | ||
| Q4 24 | $175.0M | $210.5M | ||
| Q3 24 | $193.0M | $392.3M | ||
| Q2 24 | $-329.0M | $137.3M |
| Q1 26 | — | — | ||
| Q4 25 | 9.4% | 22.6% | ||
| Q3 25 | -7.5% | 33.1% | ||
| Q2 25 | 13.4% | 12.4% | ||
| Q1 25 | -1.4% | 2.3% | ||
| Q4 24 | 17.4% | 13.3% | ||
| Q3 24 | 21.0% | 25.1% | ||
| Q2 24 | -39.7% | 8.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.3% | 0.1% | ||
| Q3 25 | 2.8% | 0.2% | ||
| Q2 25 | 2.2% | 0.1% | ||
| Q1 25 | 2.1% | 0.1% | ||
| Q4 24 | 2.3% | 0.2% | ||
| Q3 24 | 1.9% | 0.2% | ||
| Q2 24 | 2.8% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.90× | 1.91× | ||
| Q3 25 | — | 3.10× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | 1.13× | 1.27× | ||
| Q3 24 | 2.23× | 3.87× | ||
| Q2 24 | -18.00× | 3.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SBGI
| Distribution Revenue | $384.0M | 46% |
| Core Advertising Revenue | $312.0M | 37% |
| Tennis Segment | $62.0M | 7% |
| Other | $40.0M | 5% |
| Other Media Non Media Revenuesand Intercompany Revenues | $24.0M | 3% |
| Political Advertising Revenue | $14.0M | 2% |
THG
| Premiums earned | $1.6B | 92% |
| Other | $124.6M | 7% |
| Fees and other income | $6.2M | 0% |
