Hanover Insurance Group annual debt-to-equity ratio
2009
2010
2011
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2015
2016
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2018
2019
2020
2021
2022
2023
2024
2025
Hanover Insurance Group Debt-to-Equity Ratio Growth & History (THG)
Hanover Insurance Group's debt-to-equity ratio was 0.34 for fiscal 2025.
View full Hanover Insurance Group company overviewHanover Insurance Group annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.34 | 0.07 | +23.63% |
| 2024 | 2024-12-31 | 0.28 | −0.04 | −13.14% |
| 2023 | 2023-12-31 | 0.32 | −0.02 | −5.25% |
| 2022 | 2022-12-31 | 0.34 | 0.09 | +34.52% |
| 2021 | 2021-12-31 | 0.25 | 0.01 | +2.22% |
| 2020 | 2020-12-31 | 0.24 | 0.02 | +8.83% |
| 2019 | 2019-12-31 | 0.22 | −0.04 | −14.90% |
| 2018 | 2018-12-31 | 0.26 | 0.00 | +0.29% |
| 2017 | 2017-12-31 | 0.26 | −0.01 | −4.62% |
| 2016 | 2016-12-31 | 0.28 | −0.01 | −2.53% |
| 2015 | 2015-12-31 | 0.28 | −0.04 | −11.12% |
| 2014 | 2014-12-31 | 0.32 | −0.03 | −8.81% |
| 2013 | 2013-12-31 | 0.35 | 0.02 | +6.45% |
| 2012 | 2012-12-31 | 0.33 | −0.04 | −10.77% |
| 2011 | 2011-12-31 | 0.37 | 0.12 | +47.55% |
| 2010 | 2010-12-31 | 0.25 | 0.06 | +35.13% |
| 2009 | 2009-12-31 | 0.18 | — | — |
Hanover Insurance Group quarterly debt-to-equity ratio
Q4.09
Q2.10
Q3.10
Q4.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
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Q3.13
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Q4.17
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Q4.22
Q1.23
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Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.23 | −0.01 | −5.79% |
| Q1 2026 | 2026-03-31 | 0.24 | −0.02 | −8.26% |
| Q4 2025 | 2025-12-31 | 0.34 | 0.07 | +23.63% |
| Q3 2025 | 2025-09-30 | 0.37 | 0.10 | +37.12% |
| Q2 2025 | 2025-06-30 | 0.24 | −0.06 | −20.56% |
| Q1 2025 | 2025-03-31 | 0.26 | −0.05 | −17.04% |
| Q4 2024 | 2024-12-31 | 0.28 | −0.04 | −13.14% |
| Q3 2024 | 2024-09-30 | 0.27 | −0.10 | −26.37% |
| Q2 2024 | 2024-06-30 | 0.31 | −0.04 | −12.21% |
| Q1 2024 | 2024-03-31 | 0.31 | −0.02 | −5.20% |
| Q4 2023 | 2023-12-31 | 0.32 | −0.02 | −5.25% |
| Q3 2023 | 2023-09-30 | 0.37 | 0.03 | +9.02% |
| Q2 2023 | 2023-06-30 | 0.35 | 0.05 | +15.23% |
| Q1 2023 | 2023-03-31 | 0.33 | 0.05 | +18.62% |
| Q4 2022 | 2022-12-31 | 0.34 | 0.09 | +34.52% |
| Q3 2022 | 2022-09-30 | 0.34 | 0.09 | +34.73% |
| Q2 2022 | 2022-06-30 | 0.30 | 0.06 | +22.55% |
| Q1 2022 | 2022-03-31 | 0.28 | 0.02 | +7.74% |
| Q4 2021 | 2021-12-31 | 0.25 | 0.01 | +2.22% |
| Q3 2021 | 2021-09-30 | 0.25 | 0.00 | +1.83% |
| Q2 2021 | 2021-06-30 | 0.25 | 0.04 | +16.55% |
| Q1 2021 | 2021-03-31 | 0.26 | −0.00 | −0.85% |
| Q4 2020 | 2020-12-31 | 0.24 | 0.02 | +8.83% |
| Q3 2020 | 2020-09-30 | 0.25 | 0.03 | +14.34% |
| Q2 2020 | 2020-06-30 | 0.21 | −0.01 | −4.30% |
| Q1 2020 | 2020-03-31 | 0.26 | 0.04 | +15.88% |
| Q4 2019 | 2019-12-31 | 0.22 | −0.04 | −14.90% |
| Q3 2019 | 2019-09-30 | 0.22 | −0.04 | −17.02% |
| Q2 2019 | 2019-06-30 | 0.22 | −0.05 | −17.06% |
| Q1 2019 | 2019-03-31 | 0.22 | −0.05 | −17.42% |
| Q4 2018 | 2018-12-31 | 0.26 | 0.00 | +0.29% |
| Q3 2018 | 2018-09-30 | 0.26 | −0.00 | −1.51% |
| Q2 2018 | 2018-06-30 | 0.27 | 0.00 | +1.16% |
| Q1 2018 | 2018-03-31 | 0.27 | 0.00 | +0.06% |
| Q4 2017 | 2017-12-31 | 0.26 | −0.01 | −4.62% |
| Q3 2017 | 2017-09-30 | 0.26 | 0.00 | +1.05% |
| Q2 2017 | 2017-06-30 | 0.26 | −0.00 | −0.16% |
| Q1 2017 | 2017-03-31 | 0.27 | −0.00 | −0.63% |
| Q4 2016 | 2016-12-31 | 0.28 | −0.01 | −2.53% |
| Q3 2016 | 2016-09-30 | 0.26 | −0.02 | −7.25% |
| Q2 2016 | 2016-06-30 | 0.27 | −0.02 | −7.68% |
| Q1 2016 | 2016-03-31 | 0.27 | −0.02 | −6.37% |
| Q4 2015 | 2015-12-31 | 0.28 | −0.04 | −11.12% |
| Q3 2015 | 2015-09-30 | 0.28 | −0.04 | −13.33% |
| Q2 2015 | 2015-06-30 | 0.29 | −0.04 | −11.21% |
| Q1 2015 | 2015-03-31 | 0.29 | −0.05 | −13.93% |
| Q4 2014 | 2014-12-31 | 0.32 | −0.03 | −8.81% |
| Q3 2014 | 2014-09-30 | 0.33 | −0.04 | −11.67% |
| Q2 2014 | 2014-06-30 | 0.32 | −0.05 | −14.01% |
| Q1 2014 | 2014-03-31 | 0.34 | −0.04 | −9.55% |
| Q4 2013 | 2013-12-31 | 0.35 | 0.02 | +6.45% |
| Q3 2013 | 2013-09-30 | 0.37 | 0.03 | +8.55% |
| Q2 2013 | 2013-06-30 | 0.38 | 0.03 | +7.30% |
| Q1 2013 | 2013-03-31 | 0.37 | 0.02 | +4.71% |
| Q4 2012 | 2012-12-31 | 0.33 | −0.04 | −10.77% |
| Q3 2012 | 2012-09-30 | 0.34 | −0.03 | −8.44% |
| Q2 2012 | 2012-06-30 | 0.35 | 0.00 | +0.56% |
| Q1 2012 | 2012-03-31 | 0.36 | 0.13 | +56.46% |
| Q4 2011 | 2011-12-31 | 0.37 | 0.12 | +47.55% |
| Q3 2011 | 2011-09-30 | 0.37 | 0.11 | +43.78% |
| Q2 2011 | 2011-06-30 | 0.35 | 0.08 | +29.60% |
| Q1 2011 | 2011-03-31 | 0.23 | — | — |
| Q4 2010 | 2010-12-31 | 0.25 | 0.06 | +35.13% |
| Q3 2010 | 2010-09-30 | 0.26 | — | — |
| Q2 2010 | 2010-06-30 | 0.27 | — | — |
| Q4 2009 | 2009-12-31 | 0.18 | — | — |
Hanover Insurance Group debt-to-equity ratio trends
Over the last five fiscal years, Hanover Insurance Group's debt-to-equity ratio increased from 0.24 to 0.34, a change of 0.10. The latest reported quarter, Q2 2026, shows 0.23.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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