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Side-by-side financial comparison of HANOVER INSURANCE GROUP, INC. (THG) and XPO, Inc. (XPO). Click either name above to swap in a different company.
XPO, Inc. is the larger business by last-quarter revenue ($2.1B vs $1.7B, roughly 1.2× HANOVER INSURANCE GROUP, INC.). HANOVER INSURANCE GROUP, INC. runs the higher net margin — 11.0% vs 4.8%, a 6.2% gap on every dollar of revenue. On growth, XPO, Inc. posted the faster year-over-year revenue change (7.3% vs 6.1%). Over the past eight quarters, HANOVER INSURANCE GROUP, INC.'s revenue compounded faster (5.2% CAGR vs 0.4%).
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.
XPO, Inc., formerly XPO Logistics, is an American transportation company that conducts less-than-truckload shipping in North America. The company has headquarters in Greenwich, Connecticut, and has 592 locations globally. XPO is the second largest provider of less-than-truckload (LTL) services in North America, operating in 99 percent of all U.S. postal codes.
THG vs XPO — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $2.1B |
| Net Profit | $186.8M | $101.0M |
| Gross Margin | — | — |
| Operating Margin | 11.1% | 8.3% |
| Net Margin | 11.0% | 4.8% |
| Revenue YoY | 6.1% | 7.3% |
| Net Profit YoY | 45.7% | 46.4% |
| EPS (diluted) | — | $0.85 |
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 | $2.1B | ||
| Q4 25 | $1.7B | $2.0B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.7B | $2.1B | ||
| Q1 25 | $1.6B | $2.0B | ||
| Q4 24 | $1.6B | $1.9B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | $1.5B | $2.1B |
| Q1 26 | $186.8M | $101.0M | ||
| Q4 25 | $198.5M | $59.0M | ||
| Q3 25 | $178.7M | $82.0M | ||
| Q2 25 | $157.1M | $106.0M | ||
| Q1 25 | $128.2M | $69.0M | ||
| Q4 24 | $167.9M | $75.0M | ||
| Q3 24 | $102.1M | $95.0M | ||
| Q2 24 | $40.5M | $150.0M |
| Q1 26 | 11.1% | 8.3% | ||
| Q4 25 | 17.3% | 7.1% | ||
| Q3 25 | 14.9% | 7.8% | ||
| Q2 25 | 12.7% | 9.5% | ||
| Q1 25 | 11.6% | 7.7% | ||
| Q4 24 | 16.1% | 7.8% | ||
| Q3 24 | 9.6% | 8.6% | ||
| Q2 24 | 6.2% | 9.5% |
| Q1 26 | 11.0% | 4.8% | ||
| Q4 25 | 11.9% | 2.9% | ||
| Q3 25 | 10.7% | 3.9% | ||
| Q2 25 | 9.5% | 5.1% | ||
| Q1 25 | 8.0% | 3.5% | ||
| Q4 24 | 10.6% | 3.9% | ||
| Q3 24 | 6.5% | 4.6% | ||
| Q2 24 | 2.6% | 7.2% |
| Q1 26 | — | $0.85 | ||
| Q4 25 | $5.46 | $0.49 | ||
| Q3 25 | $4.90 | $0.68 | ||
| Q2 25 | $4.30 | $0.89 | ||
| Q1 25 | $3.50 | $0.58 | ||
| Q4 24 | $4.60 | $0.63 | ||
| Q3 24 | $2.80 | $0.79 | ||
| Q2 24 | $1.12 | $1.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $243.5M | $237.0M |
| Total DebtLower is stronger | $843.8M | $3.3B |
| Stockholders' EquityBook value | $3.0B | $1.9B |
| Total Assets | $16.5B | $8.2B |
| Debt / EquityLower = less leverage | 0.28× | 1.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $243.5M | $237.0M | ||
| Q4 25 | $1.1B | $310.0M | ||
| Q3 25 | $915.7M | $335.0M | ||
| Q2 25 | $244.1M | $225.0M | ||
| Q1 25 | $315.1M | $212.0M | ||
| Q4 24 | $435.5M | $246.0M | ||
| Q3 24 | $427.1M | $378.0M | ||
| Q2 24 | $337.6M | $250.0M |
| Q1 26 | $843.8M | $3.3B | ||
| Q4 25 | $843.3M | — | ||
| Q3 25 | $843.0M | — | ||
| Q2 25 | $347.8M | — | ||
| Q1 25 | $722.5M | — | ||
| Q4 24 | $722.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $3.0B | $1.9B | ||
| Q4 25 | $3.6B | $1.9B | ||
| Q3 25 | $3.4B | $1.8B | ||
| Q2 25 | $3.2B | $1.8B | ||
| Q1 25 | $3.0B | $1.6B | ||
| Q4 24 | $2.8B | $1.6B | ||
| Q3 24 | $2.9B | $1.6B | ||
| Q2 24 | $2.6B | $1.5B |
| Q1 26 | $16.5B | $8.2B | ||
| Q4 25 | $16.9B | $8.2B | ||
| Q3 25 | $16.8B | $8.2B | ||
| Q2 25 | $15.7B | $8.1B | ||
| Q1 25 | $15.5B | $7.9B | ||
| Q4 24 | $15.3B | $7.7B | ||
| Q3 24 | $15.4B | $7.9B | ||
| Q2 24 | $14.9B | $7.7B |
| Q1 26 | 0.28× | 1.77× | ||
| Q4 25 | 0.24× | — | ||
| Q3 25 | 0.25× | — | ||
| Q2 25 | 0.11× | — | ||
| Q1 25 | 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 | — | $183.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.81× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $183.0M | ||
| Q4 25 | $378.2M | — | ||
| Q3 25 | $554.4M | $371.0M | ||
| Q2 25 | $206.6M | $247.0M | ||
| Q1 25 | $38.9M | $142.0M | ||
| Q4 24 | $213.5M | $189.0M | ||
| Q3 24 | $394.7M | $264.0M | ||
| Q2 24 | $139.5M | $210.0M |
| Q1 26 | — | — | ||
| Q4 25 | $377.0M | — | ||
| Q3 25 | $551.4M | $215.0M | ||
| Q2 25 | $204.9M | $51.0M | ||
| Q1 25 | $37.1M | $-57.0M | ||
| Q4 24 | $210.5M | $23.0M | ||
| Q3 24 | $392.3M | $137.0M | ||
| Q2 24 | $137.3M | $20.0M |
| Q1 26 | — | — | ||
| Q4 25 | 22.6% | — | ||
| Q3 25 | 33.1% | 10.2% | ||
| Q2 25 | 12.4% | 2.5% | ||
| Q1 25 | 2.3% | -2.9% | ||
| Q4 24 | 13.3% | 1.2% | ||
| Q3 24 | 25.1% | 6.7% | ||
| Q2 24 | 8.9% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 5.3% | ||
| Q3 25 | 0.2% | 7.4% | ||
| Q2 25 | 0.1% | 9.4% | ||
| Q1 25 | 0.1% | 10.2% | ||
| Q4 24 | 0.2% | 8.6% | ||
| Q3 24 | 0.2% | 6.2% | ||
| Q2 24 | 0.1% | 9.1% |
| Q1 26 | — | 1.81× | ||
| Q4 25 | 1.91× | — | ||
| Q3 25 | 3.10× | 4.52× | ||
| Q2 25 | 1.32× | 2.33× | ||
| Q1 25 | 0.30× | 2.06× | ||
| Q4 24 | 1.27× | 2.52× | ||
| Q3 24 | 3.87× | 2.78× | ||
| Q2 24 | 3.44× | 1.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
THG
| Premiums earned | $1.6B | 92% |
| Other | $124.6M | 7% |
| Fees and other income | $6.2M | 0% |
XPO
Segment breakdown not available.
