Kinsale Capital Group vs Hanover Insurance
Add, change or remove companies; up to four.
KIRA’s take AI analyst
I put Kinsale Capital Group and Hanover Insurance side by side, using each one’s latest annual report. Here is what stands out:
- Hanover Insurance is the larger business, with $6.6B of revenue in fiscal 2025 against $1.9B for Kinsale Capital Group, about 3.5 times as much.
- Kinsale Capital Group grew revenue faster (18.0%, against 5.7%).
- Kinsale Capital Group turned more of its sales into free cash flow (52.8% FCF margin, against 17.8%).
- Kinsale Capital Group earned a higher return on the capital invested in it (28.7%, against 21.3%).
- Investors pay more for each dollar of Kinsale Capital Group’s earnings: a P/E of 16.1x against 11.4x for Hanover Insurance.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Kinsale Capital Group
KNSL
8/8
Revenue growth5-year growthNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
Hanover Insurance
THG
0/8
Side by side
Best in the row
| Latest fiscal year | KNSL FY25 | THG FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.3B | $8.5B |
| Revenue | $1.9B | $6.6B |
| Free cash flow | $990M | $1.2B |
| Net income | $504M | $663M |
| Growth | ||
| Revenue growth | 18.0% | 5.7% |
| 5-year growth | 32.4% | 6.5% |
| Share count change | −0.3% | 0.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 14.2% |
| Net margin | 26.9% | 10.1% |
| FCF margin | 52.8% | 17.8% |
| Return on capital | 28.7% | 21.3% |
| Return on equity | 29.3% | 20.7% |
| Balance sheet | ||
| Net debt | $57.2M | $95.6M |
| Net debt / EBITDA | 0.1x | 0.1x |
| Dividends and buybacks | $106M | $260M |
| Valuation & quality | ||
| P/E | 16.1x | 11.4x |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.