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KEMPER Corp（KMPR）与HANOVER INSURANCE GROUP, INC.（THG）财务数据对比。点击上方公司名可切换其他公司
HANOVER INSURANCE GROUP, INC.的季度营收约是KEMPER Corp的1.5倍（$1.7B vs $1.1B），HANOVER INSURANCE GROUP, INC.净利率更高（11.9% vs -0.7%，领先12.6%），HANOVER INSURANCE GROUP, INC.同比增速更快（5.5% vs -4.7%），HANOVER INSURANCE GROUP, INC.自由现金流更多（$377.0M vs $166.2M），过去两年HANOVER INSURANCE GROUP, INC.的营收复合增速更高（3.8% vs -0.5%）
坎伯公司（Kemper Corporation）是总部位于美国伊利诺伊州芝加哥的保险服务商，总资产近130亿美元，旗下品牌矩阵为个人、家庭及企业客户提供多元保险产品服务。
汉诺威保险集团是总部位于美国马萨诸塞州伍斯特市的保险企业，1852年成立时主营财产责任保险，以原名公开上市交易，直至上世纪90年代初更名为Allmerica财产意外伤害保险公司。
KMPR vs THG — 直观对比
营收规模更大
THG
是对方的1.5倍
$1.1B
营收增速更快
THG
高出10.2%
-4.7%
净利率更高
THG
高出12.6%
-0.7%
自由现金流更多
THG
多$210.8M
$166.2M
两年增速更快
THG
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.7B |
| 净利润 | $-8.0M | $198.5M |
| 毛利率 | — | — |
| 营业利润率 | — | 17.3% |
| 净利率 | -0.7% | 11.9% |
| 营收同比 | -4.7% | 5.5% |
| 净利润同比 | -108.2% | 18.2% |
| 每股收益（稀释后） | $-0.03 | $5.46 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收KMPRTHG
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.2B | $1.6B | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | $1.1B | $1.6B |
净利润KMPRTHG
| Q4 25 | $-8.0M | $198.5M | ||
| Q3 25 | $-21.0M | $178.7M | ||
| Q2 25 | $72.6M | $157.1M | ||
| Q1 25 | $99.7M | $128.2M | ||
| Q4 24 | $97.4M | $167.9M | ||
| Q3 24 | $73.7M | $102.1M | ||
| Q2 24 | $75.4M | $40.5M | ||
| Q1 24 | $71.3M | $115.5M |
营业利润率KMPRTHG
| Q4 25 | — | 17.3% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | — | 12.7% | ||
| Q1 25 | — | 11.6% | ||
| Q4 24 | — | 16.1% | ||
| Q3 24 | 11.2% | 9.6% | ||
| Q2 24 | 10.1% | 6.2% | ||
| Q1 24 | 7.6% | 9.7% |
净利率KMPRTHG
| Q4 25 | -0.7% | 11.9% | ||
| Q3 25 | -1.7% | 10.7% | ||
| Q2 25 | 5.9% | 9.5% | ||
| Q1 25 | 8.4% | 8.0% | ||
| Q4 24 | 8.2% | 10.6% | ||
| Q3 24 | 6.3% | 6.5% | ||
| Q2 24 | 6.7% | 2.6% | ||
| Q1 24 | 6.2% | 7.4% |
每股收益（稀释后）KMPRTHG
| Q4 25 | $-0.03 | $5.46 | ||
| Q3 25 | $-0.34 | $4.90 | ||
| Q2 25 | $1.12 | $4.30 | ||
| Q1 25 | $1.54 | $3.50 | ||
| Q4 24 | $1.51 | $4.60 | ||
| Q3 24 | $1.14 | $2.80 | ||
| Q2 24 | $1.16 | $1.12 | ||
| Q1 24 | $1.10 | $3.18 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $1.1B |
| 总债务越低越好 | $943.5M | $843.3M |
| 股东权益账面价值 | $2.7B | $3.6B |
| 总资产 | $12.5B | $16.9B |
| 负债/权益比越低杠杆越低 | 0.35× | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资KMPRTHG
| Q4 25 | — | $1.1B | ||
| Q3 25 | $371.2M | $915.7M | ||
| Q2 25 | $407.6M | $244.1M | ||
| Q1 25 | $545.3M | $315.1M | ||
| Q4 24 | $1.0B | $435.5M | ||
| Q3 24 | $696.9M | $427.1M | ||
| Q2 24 | $539.1M | $337.6M | ||
| Q1 24 | $520.7M | $264.6M |
总债务KMPRTHG
| Q4 25 | $943.5M | $843.3M | ||
| Q3 25 | $943.1M | $843.0M | ||
| Q2 25 | $942.6M | $347.8M | ||
| Q1 25 | $942.1M | $722.5M | ||
| Q4 24 | $1.4B | $722.3M | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益KMPRTHG
| Q4 25 | $2.7B | $3.6B | ||
| Q3 25 | $2.7B | $3.4B | ||
| Q2 25 | $370.0M | $3.2B | ||
| Q1 25 | $366.0M | $3.0B | ||
| Q4 24 | $2.8B | $2.8B | ||
| Q3 24 | $2.8B | $2.9B | ||
| Q2 24 | $358.0M | $2.6B | ||
| Q1 24 | $2.6B | $2.5B |
总资产KMPRTHG
| Q4 25 | $12.5B | $16.9B | ||
| Q3 25 | $12.4B | $16.8B | ||
| Q2 25 | $12.6B | $15.7B | ||
| Q1 25 | $12.5B | $15.5B | ||
| Q4 24 | $12.6B | $15.3B | ||
| Q3 24 | $12.6B | $15.4B | ||
| Q2 24 | $12.6B | $14.9B | ||
| Q1 24 | $12.6B | $14.6B |
负债/权益比KMPRTHG
| Q4 25 | 0.35× | 0.24× | ||
| Q3 25 | 0.35× | 0.25× | ||
| Q2 25 | 2.55× | 0.11× | ||
| Q1 25 | 2.57× | 0.24× | ||
| Q4 24 | 0.50× | 0.25× | ||
| Q3 24 | 0.50× | — | ||
| Q2 24 | 3.88× | — | ||
| Q1 24 | 0.54× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $175.0M | $378.2M |
| 自由现金流经营现金流 - 资本支出 | $166.2M | $377.0M |
| 自由现金流率自由现金流/营收 | 14.7% | 22.6% |
| 资本支出强度资本支出/营收 | 0.8% | 0.1% |
| 现金转化率经营现金流/净利润 | — | 1.91× |
| 过去12个月自由现金流最近4个季度 | $553.9M | $1.2B |
8季度趋势，按日历期对齐
经营现金流KMPRTHG
| Q4 25 | $175.0M | $378.2M | ||
| Q3 25 | $139.9M | $554.4M | ||
| Q2 25 | $89.6M | $206.6M | ||
| Q1 25 | $180.0M | $38.9M | ||
| Q4 24 | $175.1M | $213.5M | ||
| Q3 24 | $141.9M | $394.7M | ||
| Q2 24 | $22.9M | $139.5M | ||
| Q1 24 | $43.0M | $58.7M |
自由现金流KMPRTHG
| Q4 25 | $166.2M | $377.0M | ||
| Q3 25 | $133.4M | $551.4M | ||
| Q2 25 | $82.0M | $204.9M | ||
| Q1 25 | $172.3M | $37.1M | ||
| Q4 24 | $165.4M | $210.5M | ||
| Q3 24 | $131.4M | $392.3M | ||
| Q2 24 | $5.2M | $137.3M | ||
| Q1 24 | $27.7M | $56.1M |
自由现金流率KMPRTHG
| Q4 25 | 14.7% | 22.6% | ||
| Q3 25 | 10.8% | 33.1% | ||
| Q2 25 | 6.7% | 12.4% | ||
| Q1 25 | 14.4% | 2.3% | ||
| Q4 24 | 13.9% | 13.3% | ||
| Q3 24 | 11.1% | 25.1% | ||
| Q2 24 | 0.5% | 8.9% | ||
| Q1 24 | 2.4% | 3.6% |
资本支出强度KMPRTHG
| Q4 25 | 0.8% | 0.1% | ||
| Q3 25 | 0.5% | 0.2% | ||
| Q2 25 | 0.6% | 0.1% | ||
| Q1 25 | 0.6% | 0.1% | ||
| Q4 24 | 0.8% | 0.2% | ||
| Q3 24 | 0.9% | 0.2% | ||
| Q2 24 | 1.6% | 0.1% | ||
| Q1 24 | 1.3% | 0.2% |
现金转化率KMPRTHG
| Q4 25 | — | 1.91× | ||
| Q3 25 | — | 3.10× | ||
| Q2 25 | 1.23× | 1.32× | ||
| Q1 25 | 1.81× | 0.30× | ||
| Q4 24 | 1.80× | 1.27× | ||
| Q3 24 | 1.93× | 3.87× | ||
| Q2 24 | 0.30× | 3.44× | ||
| Q1 24 | 0.60× | 0.51× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
KMPR
| Specialty Property Casualty Insurance Segment | $995.1M | 88% |
| Life Insurance Segment1 | $140.7M | 12% |
THG
| Personal Lines Segment | $684.6M | 41% |
| Core Commercial Lines Segment | $617.8M | 37% |
| Specialty Lines Segment | $377.9M | 23% |
