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Side-by-side financial comparison of Sandisk Corp (SNDK) and HANOVER INSURANCE GROUP, INC. (THG). Click either name above to swap in a different company.
Sandisk Corp is the larger business by last-quarter revenue ($3.0B vs $1.7B, roughly 1.8× HANOVER INSURANCE GROUP, INC.). Sandisk Corp runs the higher net margin — 26.5% vs 11.9%, a 14.7% gap on every dollar of revenue. On growth, Sandisk Corp posted the faster year-over-year revenue change (78.5% vs 5.5%). Sandisk Corp produced more free cash flow last quarter ($980.0M vs $377.0M).
Sandisk Corporation is an American multinational computer technology company based in Milpitas, California, that designs and manufactures flash memory products, including memory cards, USB flash drives, and solid-state drives. It was founded in 1988 as SunDisk by Eli Harari, Sanjay Mehrotra, and Jack Yuan. The name is a portmanteau of the founder’s name Sanjay and disk.
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.
SNDK vs THG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.0B | $1.7B |
| Net Profit | $803.0M | $198.5M |
| Gross Margin | 50.9% | — |
| Operating Margin | 35.2% | 17.3% |
| Net Margin | 26.5% | 11.9% |
| Revenue YoY | 78.5% | 5.5% |
| Net Profit YoY | 141.5% | 18.2% |
| EPS (diluted) | $5.15 | $5.46 |
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 | $3.0B | — | ||
| Q4 25 | $2.3B | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $1.9B | $1.7B | ||
| Q1 25 | $1.7B | $1.6B | ||
| Q4 24 | $1.9B | $1.6B | ||
| Q3 24 | $1.9B | $1.6B | ||
| Q2 24 | — | $1.5B |
| Q1 26 | $803.0M | — | ||
| Q4 25 | $112.0M | $198.5M | ||
| Q3 25 | — | $178.7M | ||
| Q2 25 | $-23.0M | $157.1M | ||
| Q1 25 | $-1.9B | $128.2M | ||
| Q4 24 | $104.0M | $167.9M | ||
| Q3 24 | $211.0M | $102.1M | ||
| Q2 24 | — | $40.5M |
| Q1 26 | 50.9% | — | ||
| Q4 25 | 29.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 26.2% | — | ||
| Q1 25 | 22.5% | — | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | 38.6% | — | ||
| Q2 24 | — | — |
| Q1 26 | 35.2% | — | ||
| Q4 25 | 7.6% | 17.3% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | 0.9% | 12.7% | ||
| Q1 25 | -111.0% | 11.6% | ||
| Q4 24 | 10.4% | 16.1% | ||
| Q3 24 | 15.5% | 9.6% | ||
| Q2 24 | — | 6.2% |
| Q1 26 | 26.5% | — | ||
| Q4 25 | 4.9% | 11.9% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | -1.2% | 9.5% | ||
| Q1 25 | -114.0% | 8.0% | ||
| Q4 24 | 5.5% | 10.6% | ||
| Q3 24 | 11.2% | 6.5% | ||
| Q2 24 | — | 2.6% |
| Q1 26 | $5.15 | — | ||
| Q4 25 | $0.75 | $5.46 | ||
| Q3 25 | — | $4.90 | ||
| Q2 25 | $-0.17 | $4.30 | ||
| Q1 25 | $-13.33 | $3.50 | ||
| Q4 24 | $0.72 | $4.60 | ||
| Q3 24 | $1.46 | $2.80 | ||
| Q2 24 | — | $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 | $1.5B | $1.1B |
| Total DebtLower is stronger | $603.0M | $843.3M |
| Stockholders' EquityBook value | $10.2B | $3.6B |
| Total Assets | $13.0B | $16.9B |
| Debt / EquityLower = less leverage | 0.06× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | — | $915.7M | ||
| Q2 25 | $1.5B | $244.1M | ||
| Q1 25 | $1.5B | $315.1M | ||
| Q4 24 | $804.0M | $435.5M | ||
| Q3 24 | — | $427.1M | ||
| Q2 24 | — | $337.6M |
| Q1 26 | $603.0M | — | ||
| Q4 25 | $1.4B | $843.3M | ||
| Q3 25 | — | $843.0M | ||
| Q2 25 | $1.8B | $347.8M | ||
| Q1 25 | $1.9B | $722.5M | ||
| Q4 24 | — | $722.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $10.2B | — | ||
| Q4 25 | $9.4B | $3.6B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | $9.2B | $3.2B | ||
| Q1 25 | $9.2B | $3.0B | ||
| Q4 24 | $12.0B | $2.8B | ||
| Q3 24 | $12.1B | $2.9B | ||
| Q2 24 | — | $2.6B |
| Q1 26 | $13.0B | — | ||
| Q4 25 | $12.7B | $16.9B | ||
| Q3 25 | — | $16.8B | ||
| Q2 25 | $13.0B | $15.7B | ||
| Q1 25 | $13.0B | $15.5B | ||
| Q4 24 | $14.2B | $15.3B | ||
| Q3 24 | — | $15.4B | ||
| Q2 24 | — | $14.9B |
| Q1 26 | 0.06× | — | ||
| Q4 25 | 0.14× | 0.24× | ||
| Q3 25 | — | 0.25× | ||
| Q2 25 | 0.20× | 0.11× | ||
| Q1 25 | 0.21× | 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.0B | $378.2M |
| Free Cash FlowOCF − Capex | $980.0M | $377.0M |
| FCF MarginFCF / Revenue | 32.4% | 22.6% |
| Capex IntensityCapex / Revenue | 1.3% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.27× | 1.91× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.0B | — | ||
| Q4 25 | $488.0M | $378.2M | ||
| Q3 25 | — | $554.4M | ||
| Q2 25 | — | $206.6M | ||
| Q1 25 | $26.0M | $38.9M | ||
| Q4 24 | $95.0M | $213.5M | ||
| Q3 24 | $-131.0M | $394.7M | ||
| Q2 24 | — | $139.5M |
| Q1 26 | $980.0M | — | ||
| Q4 25 | $438.0M | $377.0M | ||
| Q3 25 | — | $551.4M | ||
| Q2 25 | — | $204.9M | ||
| Q1 25 | $-18.0M | $37.1M | ||
| Q4 24 | $47.0M | $210.5M | ||
| Q3 24 | $-198.0M | $392.3M | ||
| Q2 24 | — | $137.3M |
| Q1 26 | 32.4% | — | ||
| Q4 25 | 19.0% | 22.6% | ||
| Q3 25 | — | 33.1% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | -1.1% | 2.3% | ||
| Q4 24 | 2.5% | 13.3% | ||
| Q3 24 | -10.5% | 25.1% | ||
| Q2 24 | — | 8.9% |
| Q1 26 | 1.3% | — | ||
| Q4 25 | 2.2% | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | 2.6% | 0.1% | ||
| Q4 24 | 2.6% | 0.2% | ||
| Q3 24 | 3.6% | 0.2% | ||
| Q2 24 | — | 0.1% |
| Q1 26 | 1.27× | — | ||
| Q4 25 | 4.36× | 1.91× | ||
| Q3 25 | — | 3.10× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | 0.91× | 1.27× | ||
| Q3 24 | -0.62× | 3.87× | ||
| Q2 24 | — | 3.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SNDK
| Edge | $1.7B | 55% |
| Consumer | $907.0M | 30% |
| Datacenter | $440.0M | 15% |
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
