Hanover Insurance Group annual operating margin
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Hanover Insurance Group Operating Margin Growth & History (THG)
Hanover Insurance Group's operating margin was 14.15% for fiscal 2025.
View full Hanover Insurance Group company overviewHanover Insurance Group annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 14.15% | +3.73 pp |
| 2024 | 2024-12-31 | 10.42% | +8.66 pp |
| 2023 | 2023-12-31 | 1.76% | −3.45 pp |
| 2022 | 2022-12-31 | 5.21% | −3.06 pp |
| 2021 | 2021-12-31 | 8.27% | −1.78 pp |
| 2020 | 2020-12-31 | 10.05% | +0.77 pp |
| 2019 | 2019-12-31 | 9.27% | +0.23 pp |
| 2018 | 2018-12-31 | 9.04% | +1.38 pp |
| 2017 | 2017-12-31 | 7.67% | +2.91 pp |
| 2016 | 2016-12-31 | 4.76% | −4.50 pp |
| 2015 | 2015-12-31 | 9.26% | +1.24 pp |
| 2014 | 2014-12-31 | 8.02% | −0.19 pp |
| 2013 | 2013-12-31 | 8.21% | +6.57 pp |
| 2012 | 2012-12-31 | 1.64% | −0.19 pp |
| 2011 | 2011-12-31 | 1.83% | −5.22 pp |
| 2010 | 2010-12-31 | 7.05% | — |
Hanover Insurance Group quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 14.59% | +1.91 pp |
| Q1 2026 | 2026-03-31 | 14.71% | +3.08 pp |
| Q4 2025 | 2025-12-31 | 17.29% | +1.23 pp |
| Q3 2025 | 2025-09-30 | 14.88% | +5.26 pp |
| Q2 2025 | 2025-06-30 | 12.69% | +6.48 pp |
| Q1 2025 | 2025-03-31 | 11.63% | +1.98 pp |
| Q4 2024 | 2024-12-31 | 16.06% | +5.72 pp |
| Q3 2024 | 2024-09-30 | 9.62% | +8.72 pp |
| Q2 2024 | 2024-06-30 | 6.21% | +11.49 pp |
| Q1 2024 | 2024-03-31 | 9.65% | +8.74 pp |
| Q4 2023 | 2023-12-31 | 10.34% | +12.92 pp |
| Q3 2023 | 2023-09-30 | 0.90% | −3.04 pp |
| Q2 2023 | 2023-06-30 | −5.28% | −14.17 pp |
| Q1 2023 | 2023-03-31 | 0.91% | −10.69 pp |
| Q4 2022 | 2022-12-31 | −2.58% | −14.40 pp |
| Q3 2022 | 2022-09-30 | 3.94% | +0.26 pp |
| Q2 2022 | 2022-06-30 | 8.89% | −1.73 pp |
| Q1 2022 | 2022-03-31 | 11.60% | +4.97 pp |
| Q4 2021 | 2021-12-31 | 11.82% | +0.21 pp |
| Q3 2021 | 2021-09-30 | 3.69% | −6.59 pp |
| Q2 2021 | 2021-06-30 | 10.62% | +3.36 pp |
| Q1 2021 | 2021-03-31 | 6.64% | −4.45 pp |
| Q4 2020 | 2020-12-31 | 11.61% | +2.83 pp |
| Q3 2020 | 2020-09-30 | 10.27% | −0.12 pp |
| Q2 2020 | 2020-06-30 | 7.26% | −1.67 pp |
| Q1 2020 | 2020-03-31 | 11.09% | +2.08 pp |
| Q4 2019 | 2019-12-31 | 8.78% | +0.34 pp |
| Q3 2019 | 2019-09-30 | 10.40% | +0.73 pp |
| Q2 2019 | 2019-06-30 | 8.93% | −0.54 pp |
| Q1 2019 | 2019-03-31 | 9.00% | +0.46 pp |
| Q4 2018 | 2018-12-31 | 8.44% | +0.34 pp |
| Q3 2018 | 2018-09-30 | 9.67% | +1.73 pp |
| Q2 2018 | 2018-06-30 | 9.47% | +0.08 pp |
| Q1 2018 | 2018-03-31 | 8.55% | +3.07 pp |
| Q4 2017 | 2017-12-31 | 8.11% | +49.97 pp |
| Q3 2017 | 2017-09-30 | 7.94% | −2.52 pp |
| Q2 2017 | 2017-06-30 | 9.39% | +1.64 pp |
| Q1 2017 | 2017-03-31 | 5.48% | −4.33 pp |
| Q4 2016 | 2016-12-31 | −41.86% | −52.12 pp |
| Q3 2016 | 2016-09-30 | 10.46% | +0.52 pp |
| Q2 2016 | 2016-06-30 | 7.75% | −1.46 pp |
| Q1 2016 | 2016-03-31 | 9.81% | +2.08 pp |
| Q4 2015 | 2015-12-31 | 10.26% | −0.06 pp |
| Q3 2015 | 2015-09-30 | 9.94% | +3.11 pp |
| Q2 2015 | 2015-06-30 | 9.21% | +1.18 pp |
| Q1 2015 | 2015-03-31 | 7.73% | +0.90 pp |
| Q4 2014 | 2014-12-31 | 10.32% | +1.95 pp |
| Q3 2014 | 2014-09-30 | 6.83% | −2.09 pp |
| Q2 2014 | 2014-06-30 | 8.03% | +1.17 pp |
| Q1 2014 | 2014-03-31 | 6.83% | −1.83 pp |
| Q4 2013 | 2013-12-31 | 8.37% | +17.20 pp |
| Q3 2013 | 2013-09-30 | 8.92% | +3.49 pp |
| Q2 2013 | 2013-06-30 | 6.86% | +4.11 pp |
| Q1 2013 | 2013-03-31 | 8.66% | +1.02 pp |
| Q4 2012 | 2012-12-31 | −8.83% | −15.65 pp |
| Q3 2012 | 2012-09-30 | 5.43% | +6.17 pp |
| Q2 2012 | 2012-06-30 | 2.75% | +8.29 pp |
| Q1 2012 | 2012-03-31 | 7.64% | +1.67 pp |
| Q4 2011 | 2011-12-31 | 6.82% | — |
| Q3 2011 | 2011-09-30 | −0.74% | — |
| Q2 2011 | 2011-06-30 | −5.54% | — |
| Q1 2011 | 2011-03-31 | 5.97% | — |
Hanover Insurance Group operating margin trends
Over the last five reported fiscal years, Hanover Insurance Group's operating margin increased from 10.05% to 14.15%, a change of +4.10 percentage points. The latest reported quarter, Q2 2026, shows 14.59%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Hanover Insurance Group filings at SEC.gov ↗