Rocket Companies vs Hanover Insurance
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The short version
- Rocket Companies is the larger business, with $6.7B of revenue in fiscal 2025 against $6.6B for Hanover Insurance.
- Rocket Companies grew revenue faster (31.3%, against 5.7%).
- Hanover Insurance turned more of its sales into free cash flow (17.8% FCF margin, against −60.0%).
| Latest fiscal year | RKT · FY25 | THG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $33.4B | $8.5B |
| Revenue | $6.7B | $6.6B |
| Free cash flow | −$4.0B | $1.2B |
| Net income | −$68.0M | $663M |
| Growth | ||
| Revenue growth | 31.3% | 5.7% |
| 5-year growth | −15.6% | 6.5% |
| Share count change | 837.6% | 0.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 14.2% |
| Net margin | −1.0% | 10.1% |
| FCF margin | −60.0% | 17.8% |
| Return on capital | — | 21.3% |
| Return on equity | −0.4% | 20.7% |
| Balance sheet | ||
| Net debt | — | $95.6M |
| Net debt / EBITDA | — | 0.1x |
| Dividends and buybacks | $0.0M | $260M |
| Valuation & quality | ||
| P/E | — | 11.4x |
| Piotroski F-score | — | — |
Revenue
FY16
RKT —
THG $4.1B
FY17
RKT —
THG $4.3B
FY18
RKT $4.2B
THG $4.5B
FY19
RKT $5.1B
THG $4.9B
FY20
RKT $15.7B
THG $4.8B
FY21
RKT $12.9B
THG $5.2B
FY22
RKT $5.8B
THG $5.5B
FY23
RKT $3.8B
THG $6.0B
FY24
RKT $5.1B
THG $6.2B
FY25
RKT $6.7B
THG $6.6B
RKT
THG
Operating margin
FY16
RKT —
THG 4.8%
FY17
RKT —
THG 7.7%
FY18
RKT —
THG 9.0%
FY19
RKT —
THG 9.3%
FY20
RKT —
THG 10.1%
FY21
RKT —
THG 8.3%
FY22
RKT —
THG 5.2%
FY23
RKT —
THG 1.8%
FY24
RKT —
THG 10.4%
FY25
RKT —
THG 14.2%
RKT
THG
Free cash flow
FY16
RKT —
THG $728M
FY17
RKT —
THG $686M
FY18
RKT $1.4B
THG $538M
FY19
RKT −$7.0B
THG $590M
FY20
RKT −$1.8B
THG $693M
FY21
RKT $7.6B
THG $816M
FY22
RKT $10.7B
THG $705M
FY23
RKT $51.0M
THG $350M
FY24
RKT −$2.7B
THG $796M
FY25
RKT −$4.0B
THG $1.2B
RKT
THG
Return on capital
FY16
RKT —
THG 5.8%
FY17
RKT —
THG 7.1%
FY18
RKT —
THG 11.1%
FY19
RKT —
THG 12.3%
FY20
RKT —
THG —
FY21
RKT —
THG —
FY22
RKT —
THG —
FY23
RKT —
THG —
FY24
RKT —
THG 16.8%
FY25
RKT —
THG 21.3%
RKT
THG
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.