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Side-by-side financial comparison of SEALED AIR CORP (SEE) 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 $1.4B, roughly 1.2× SEALED AIR CORP). HANOVER INSURANCE GROUP, INC. runs the higher net margin — 11.0% vs 3.1%, a 7.8% gap on every dollar of revenue. On growth, HANOVER INSURANCE GROUP, INC. posted the faster year-over-year revenue change (6.1% vs 2.6%). Over the past eight quarters, HANOVER INSURANCE GROUP, INC.'s revenue compounded faster (5.2% CAGR vs 2.7%).
Sealed Air Corporation is a global provider of innovative packaging and protective solutions. Its core offerings include cushioning materials, food safety and preservation packaging, and sustainable waste-reducing packaging systems, serving retail, e-commerce, food and beverage, and industrial manufacturing markets worldwide.
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.
SEE vs THG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.7B |
| Net Profit | $43.8M | $186.8M |
| Gross Margin | 28.6% | — |
| Operating Margin | 11.4% | 11.1% |
| Net Margin | 3.1% | 11.0% |
| Revenue YoY | 2.6% | 6.1% |
| Net Profit YoY | 700.0% | 45.7% |
| EPS (diluted) | $0.30 | — |
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 | $1.4B | $1.7B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.3B | $1.6B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $1.3B | $1.5B |
| Q1 26 | — | $186.8M | ||
| Q4 25 | $43.8M | $198.5M | ||
| Q3 25 | $255.1M | $178.7M | ||
| Q2 25 | $93.1M | $157.1M | ||
| Q1 25 | $113.5M | $128.2M | ||
| Q4 24 | $-7.3M | $167.9M | ||
| Q3 24 | $91.7M | $102.1M | ||
| Q2 24 | $98.3M | $40.5M |
| Q1 26 | — | — | ||
| Q4 25 | 28.6% | — | ||
| Q3 25 | 29.8% | — | ||
| Q2 25 | 30.7% | — | ||
| Q1 25 | 30.9% | — | ||
| Q4 24 | 30.0% | — | ||
| Q3 24 | 30.1% | — | ||
| Q2 24 | 31.2% | — |
| Q1 26 | — | 11.1% | ||
| Q4 25 | 11.4% | 17.3% | ||
| Q3 25 | 13.8% | 14.9% | ||
| Q2 25 | 15.0% | 12.7% | ||
| Q1 25 | 14.5% | 11.6% | ||
| Q4 24 | 11.7% | 16.1% | ||
| Q3 24 | 13.9% | 9.6% | ||
| Q2 24 | 15.4% | 6.2% |
| Q1 26 | — | 11.0% | ||
| Q4 25 | 3.1% | 11.9% | ||
| Q3 25 | 19.0% | 10.7% | ||
| Q2 25 | 7.0% | 9.5% | ||
| Q1 25 | 9.0% | 8.0% | ||
| Q4 24 | -0.5% | 10.6% | ||
| Q3 24 | 6.9% | 6.5% | ||
| Q2 24 | 7.4% | 2.6% |
| Q1 26 | — | — | ||
| Q4 25 | $0.30 | $5.46 | ||
| Q3 25 | $1.73 | $4.90 | ||
| Q2 25 | $0.63 | $4.30 | ||
| Q1 25 | $0.77 | $3.50 | ||
| Q4 24 | $-0.05 | $4.60 | ||
| Q3 24 | $0.63 | $2.80 | ||
| Q2 24 | $0.67 | $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 | $344.0M | $243.5M |
| Total DebtLower is stronger | $3.3B | $843.8M |
| Stockholders' EquityBook value | $1.2B | $3.0B |
| Total Assets | $7.0B | $16.5B |
| Debt / EquityLower = less leverage | 2.65× | 0.28× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $243.5M | ||
| Q4 25 | $344.0M | $1.1B | ||
| Q3 25 | $282.5M | $915.7M | ||
| Q2 25 | $354.4M | $244.1M | ||
| Q1 25 | $335.2M | $315.1M | ||
| Q4 24 | $371.8M | $435.5M | ||
| Q3 24 | $386.0M | $427.1M | ||
| Q2 24 | $388.6M | $337.6M |
| Q1 26 | — | $843.8M | ||
| Q4 25 | $3.3B | $843.3M | ||
| Q3 25 | $4.0B | $843.0M | ||
| Q2 25 | $4.0B | $347.8M | ||
| Q1 25 | $4.2B | $722.5M | ||
| Q4 24 | $4.2B | $722.3M | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $4.4B | — |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $1.2B | $3.6B | ||
| Q3 25 | $1.2B | $3.4B | ||
| Q2 25 | $953.1M | $3.2B | ||
| Q1 25 | $797.9M | $3.0B | ||
| Q4 24 | $624.5M | $2.8B | ||
| Q3 24 | $771.2M | $2.9B | ||
| Q2 24 | $650.1M | $2.6B |
| Q1 26 | — | $16.5B | ||
| Q4 25 | $7.0B | $16.9B | ||
| Q3 25 | $7.1B | $16.8B | ||
| Q2 25 | $7.2B | $15.7B | ||
| Q1 25 | $7.0B | $15.5B | ||
| Q4 24 | $7.0B | $15.3B | ||
| Q3 24 | $7.3B | $15.4B | ||
| Q2 24 | $7.3B | $14.9B |
| Q1 26 | — | 0.28× | ||
| Q4 25 | 2.65× | 0.24× | ||
| Q3 25 | 3.34× | 0.25× | ||
| Q2 25 | 4.18× | 0.11× | ||
| Q1 25 | 5.26× | 0.24× | ||
| Q4 24 | 6.72× | 0.25× | ||
| Q3 24 | 5.62× | — | ||
| Q2 24 | 6.81× | — |
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 | $293.6M | — |
| Free Cash FlowOCF − Capex | $257.7M | — |
| FCF MarginFCF / Revenue | 18.5% | — |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | 6.70× | — |
| TTM Free Cash FlowTrailing 4 quarters | $458.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $293.6M | $378.2M | ||
| Q3 25 | $165.9M | $554.4M | ||
| Q2 25 | $136.6M | $206.6M | ||
| Q1 25 | $31.9M | $38.9M | ||
| Q4 24 | $244.2M | $213.5M | ||
| Q3 24 | $170.5M | $394.7M | ||
| Q2 24 | $188.2M | $139.5M |
| Q1 26 | — | — | ||
| Q4 25 | $257.7M | $377.0M | ||
| Q3 25 | $119.6M | $551.4M | ||
| Q2 25 | $93.2M | $204.9M | ||
| Q1 25 | $-12.0M | $37.1M | ||
| Q4 24 | $185.1M | $210.5M | ||
| Q3 24 | $115.2M | $392.3M | ||
| Q2 24 | $129.5M | $137.3M |
| Q1 26 | — | — | ||
| Q4 25 | 18.5% | 22.6% | ||
| Q3 25 | 8.9% | 33.1% | ||
| Q2 25 | 7.0% | 12.4% | ||
| Q1 25 | -0.9% | 2.3% | ||
| Q4 24 | 13.6% | 13.3% | ||
| Q3 24 | 8.6% | 25.1% | ||
| Q2 24 | 9.7% | 8.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 0.1% | ||
| Q3 25 | 3.4% | 0.2% | ||
| Q2 25 | 3.3% | 0.1% | ||
| Q1 25 | 3.5% | 0.1% | ||
| Q4 24 | 4.4% | 0.2% | ||
| Q3 24 | 4.1% | 0.2% | ||
| Q2 24 | 4.4% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 6.70× | 1.91× | ||
| Q3 25 | 0.65× | 3.10× | ||
| Q2 25 | 1.47× | 1.32× | ||
| Q1 25 | 0.28× | 0.30× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | 1.86× | 3.87× | ||
| Q2 24 | 1.91× | 3.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
THG
| Premiums earned | $1.6B | 92% |
| Other | $124.6M | 7% |
| Fees and other income | $6.2M | 0% |
