vs
Side-by-side financial comparison of HANOVER INSURANCE GROUP, INC. (THG) and Tapestry, Inc. (TPR). Click either name above to swap in a different company.
Tapestry, Inc. is the larger business by last-quarter revenue ($2.5B vs $1.7B, roughly 1.5× HANOVER INSURANCE GROUP, INC.). Tapestry, Inc. runs the higher net margin — 22.4% vs 11.9%, a 10.6% gap on every dollar of revenue. On growth, Tapestry, Inc. posted the faster year-over-year revenue change (14.0% vs 5.5%). Tapestry, Inc. produced more free cash flow last quarter ($1.0B vs $377.0M). Over the past eight quarters, Tapestry, Inc.'s revenue compounded faster (29.9% CAGR vs 3.8%).
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.
Tapestry, Inc. is a leading American multinational luxury fashion holding company. It owns three iconic lifestyle brands: Coach, Kate Spade New York, and Stuart Weitzman, offering premium handbags, apparel, footwear, accessories, and fragrances to global consumers via physical retail stores and e-commerce platforms.
THG vs TPR — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $2.5B |
| Net Profit | $198.5M | $561.3M |
| Gross Margin | — | 75.5% |
| Operating Margin | 17.3% | 28.6% |
| Net Margin | 11.9% | 22.4% |
| Revenue YoY | 5.5% | 14.0% |
| Net Profit YoY | 18.2% | 80.8% |
| EPS (diluted) | $5.46 | $2.68 |
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.
| Q4 25 | $1.7B | $2.5B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.7B | $1.7B | ||
| Q1 25 | $1.6B | $1.6B | ||
| Q4 24 | $1.6B | $2.2B | ||
| Q3 24 | $1.6B | $1.5B | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | $1.6B | $1.5B |
| Q4 25 | $198.5M | $561.3M | ||
| Q3 25 | $178.7M | $274.8M | ||
| Q2 25 | $157.1M | $-517.1M | ||
| Q1 25 | $128.2M | $203.3M | ||
| Q4 24 | $167.9M | $310.4M | ||
| Q3 24 | $102.1M | $186.6M | ||
| Q2 24 | $40.5M | $159.3M | ||
| Q1 24 | $115.5M | $139.4M |
| Q4 25 | — | 75.5% | ||
| Q3 25 | — | 76.3% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 76.1% | ||
| Q4 24 | — | 74.4% | ||
| Q3 24 | — | 75.3% | ||
| Q2 24 | — | 74.9% | ||
| Q1 24 | — | 74.7% |
| Q4 25 | 17.3% | 28.6% | ||
| Q3 25 | 14.9% | 19.3% | ||
| Q2 25 | 12.7% | -33.9% | ||
| Q1 25 | 11.6% | 16.0% | ||
| Q4 24 | 16.1% | 22.4% | ||
| Q3 24 | 9.6% | 16.7% | ||
| Q2 24 | 6.2% | 14.8% | ||
| Q1 24 | 9.7% | 13.8% |
| Q4 25 | 11.9% | 22.4% | ||
| Q3 25 | 10.7% | 16.1% | ||
| Q2 25 | 9.5% | -30.0% | ||
| Q1 25 | 8.0% | 12.8% | ||
| Q4 24 | 10.6% | 14.1% | ||
| Q3 24 | 6.5% | 12.4% | ||
| Q2 24 | 2.6% | 10.0% | ||
| Q1 24 | 7.4% | 9.4% |
| Q4 25 | $5.46 | $2.68 | ||
| Q3 25 | $4.90 | $1.28 | ||
| Q2 25 | $4.30 | $-2.30 | ||
| Q1 25 | $3.50 | $0.95 | ||
| Q4 24 | $4.60 | $1.38 | ||
| Q3 24 | $2.80 | $0.79 | ||
| Q2 24 | $1.12 | $0.67 | ||
| Q1 24 | $3.18 | $0.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $1.1B |
| Total DebtLower is stronger | $843.3M | $2.4B |
| Stockholders' EquityBook value | $3.6B | $551.2M |
| Total Assets | $16.9B | $6.5B |
| Debt / EquityLower = less leverage | 0.24× | 4.32× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $915.7M | $743.2M | ||
| Q2 25 | $244.1M | $1.1B | ||
| Q1 25 | $315.1M | $1.1B | ||
| Q4 24 | $435.5M | $1.0B | ||
| Q3 24 | $427.1M | $7.3B | ||
| Q2 24 | $337.6M | $7.2B | ||
| Q1 24 | $264.6M | $7.4B |
| Q4 25 | $843.3M | $2.4B | ||
| Q3 25 | $843.0M | $2.4B | ||
| Q2 25 | $347.8M | $2.4B | ||
| Q1 25 | $722.5M | $2.4B | ||
| Q4 24 | $722.3M | $2.4B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $6.9B | ||
| Q1 24 | — | $7.7B |
| Q4 25 | $3.6B | $551.2M | ||
| Q3 25 | $3.4B | $399.5M | ||
| Q2 25 | $3.2B | $857.8M | ||
| Q1 25 | $3.0B | $1.5B | ||
| Q4 24 | $2.8B | $1.3B | ||
| Q3 24 | $2.9B | $3.0B | ||
| Q2 24 | $2.6B | $2.9B | ||
| Q1 24 | $2.5B | $2.8B |
| Q4 25 | $16.9B | $6.5B | ||
| Q3 25 | $16.8B | $6.4B | ||
| Q2 25 | $15.7B | $6.6B | ||
| Q1 25 | $15.5B | $7.3B | ||
| Q4 24 | $15.3B | $7.3B | ||
| Q3 24 | $15.4B | $13.7B | ||
| Q2 24 | $14.9B | $13.4B | ||
| Q1 24 | $14.6B | $13.7B |
| Q4 25 | 0.24× | 4.32× | ||
| Q3 25 | 0.25× | 5.95× | ||
| Q2 25 | 0.11× | 2.77× | ||
| Q1 25 | 0.24× | 1.59× | ||
| Q4 24 | 0.25× | 1.78× | ||
| Q3 24 | — | 2.35× | ||
| Q2 24 | — | 2.39× | ||
| Q1 24 | — | 2.77× |
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 | $378.2M | $1.1B |
| Free Cash FlowOCF − Capex | $377.0M | $1.0B |
| FCF MarginFCF / Revenue | 22.6% | 41.5% |
| Capex IntensityCapex / Revenue | 0.1% | 1.7% |
| Cash ConversionOCF / Net Profit | 1.91× | 1.93× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $1.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $378.2M | $1.1B | ||
| Q3 25 | $554.4M | $112.6M | ||
| Q2 25 | $206.6M | $446.8M | ||
| Q1 25 | $38.9M | $144.3M | ||
| Q4 24 | $213.5M | $506.0M | ||
| Q3 24 | $394.7M | $119.5M | ||
| Q2 24 | $139.5M | $256.0M | ||
| Q1 24 | $58.7M | $97.8M |
| Q4 25 | $377.0M | $1.0B | ||
| Q3 25 | $551.4M | $80.2M | ||
| Q2 25 | $204.9M | $411.5M | ||
| Q1 25 | $37.1M | $113.4M | ||
| Q4 24 | $210.5M | $475.1M | ||
| Q3 24 | $392.3M | $93.9M | ||
| Q2 24 | $137.3M | $209.8M | ||
| Q1 24 | $56.1M | $78.8M |
| Q4 25 | 22.6% | 41.5% | ||
| Q3 25 | 33.1% | 4.7% | ||
| Q2 25 | 12.4% | 23.9% | ||
| Q1 25 | 2.3% | 7.2% | ||
| Q4 24 | 13.3% | 21.6% | ||
| Q3 24 | 25.1% | 6.2% | ||
| Q2 24 | 8.9% | 13.2% | ||
| Q1 24 | 3.6% | 5.3% |
| Q4 25 | 0.1% | 1.7% | ||
| Q3 25 | 0.2% | 1.9% | ||
| Q2 25 | 0.1% | 2.0% | ||
| Q1 25 | 0.1% | 2.0% | ||
| Q4 24 | 0.2% | 1.4% | ||
| Q3 24 | 0.2% | 1.7% | ||
| Q2 24 | 0.1% | 2.9% | ||
| Q1 24 | 0.2% | 1.3% |
| Q4 25 | 1.91× | 1.93× | ||
| Q3 25 | 3.10× | 0.41× | ||
| Q2 25 | 1.32× | — | ||
| Q1 25 | 0.30× | 0.71× | ||
| Q4 24 | 1.27× | 1.63× | ||
| Q3 24 | 3.87× | 0.64× | ||
| Q2 24 | 3.44× | 1.61× | ||
| Q1 24 | 0.51× | 0.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
