Old Republic International vs Hanover Insurance
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KIRAβs take AI analyst
I put Old Republic International and Hanover Insurance side by side, using each oneβs latest annual report. Here is what stands out:
- Old Republic International is the larger business, with $9.1B of revenue in fiscal 2025 against $6.6B for Hanover Insurance.
- Old Republic International grew revenue faster (11.0%, against 5.7%).
- Investors pay more for each dollar of Hanover Insuranceβs earnings: a P/E of 11.4x against 8.4x for Old Republic International.
Who comes out ahead
Of the 5 measures where higher (or lower) is clearly better, how many each company leads.
Old Republic International
ORI
3/5
Revenue growthNet marginShare count change
Hanover Insurance
THG
2/5
5-year growthReturn on equity
Side by side
Best in the row
| Latest fiscal year | ORI FY25 | THG FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.5B | $8.5B |
| Revenue | $9.1B | $6.6B |
| Free cash flow | β | $1.2B |
| Net income | $935M | $663M |
| Growth | ||
| Revenue growth | 11.0% | 5.7% |
| 5-year growth | 5.0% | 6.5% |
| Share count change | β4.4% | 0.3% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | 14.2% |
| Net margin | 10.2% | 10.1% |
| FCF margin | β | 17.8% |
| Return on capital | β | 21.3% |
| Return on equity | 16.2% | 20.7% |
| Balance sheet | ||
| Net debt | β | $95.6M |
| Net debt / EBITDA | β | 0.1x |
| Dividends and buybacks | $906M | $260M |
| Valuation & quality | ||
| P/E | 8.4x | 11.4x |
| Piotroski F-score | β | β |
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.