汉诺威保险集团 THG
$242.90 −$6.35 (-2.55%)
休市 · Nov 6, 8:10 pm ET · 最新盘后价 $243.20 +0.12%
开盘$243.84
昨收$249.25
当日区间$242.27 – $247.80
成交量277.3K
市值$8.35B
市盈率（TTM）11.6
股息率1.56%
基本面
最新报告季度：Q3, ended Sep 2026
营收$1.73B+4.1% YoY
净利润$172.60M-3.4% YoY
摊薄每股收益$4.86-0.8% YoY
自由现金流$518.00M-6.1% YoY
经营现金流$519.80M
营收，近8个季度
净利润，近8个季度
各季度摊薄每股收益
各季度自由现金流
年度营收
盈利能力与资产负债表
净利率11.0%
净资产收益率21.8%
资产收益率4.4%
负债/资产比率79.8%
总负债$844.20M
自由现金流/营收17.9%
营收构成
2026/Q2 季度
按业务线
利润表
| 项目 | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| 报告营业总收入 | $1.74B | $1.73B | $1.70B | $6.59B | $1.67B |
| 营业总收入 | $1.73B | $1.72B | $1.69B | $6.57B | $1.66B |
| 已赚保费合计 | $1.61B | $1.60B | $1.57B | $6.16B | $1.56B |
| -净承保保费 | $1.79B | $1.60B | $1.57B | $6.32B | $1.49B |
| -未到期保费净准备增减 | -$181.00M | – | $0.00 | -$161.00M | $68.00M |
| 手续费收入及其他收入 | $6.20M | $6.20M | $6.20M | $24.90M | $6.10M |
| -手续费及佣金 | $6.20M | $6.20M | $6.20M | $24.90M | $6.10M |
| 净投资收益 | $116.30M | $124.20M | $118.50M | $443.00M | $117.80M |
| 投资已实现损益净额 | -$8.30M | -$5.40M | -$4.90M | -$61.70M | -$18.00M |
| 总费用 | $1.51B | $1.48B | $1.45B | $5.72B | $1.40B |
| 理赔费用 | $989.70M | $962.50M | $957.60M | $3.73B | $889.70M |
| 保单获取费用 | $344.10M | $338.00M | $333.20M | $1.29B | $327.40M |
| 非经营性利息净收入（支出） | -$10.00M | -$10.10M | -$10.80M | -$43.20M | -$14.50M |
| -非经营性利息支出 | $10.00M | $10.10M | $10.80M | $43.20M | $14.50M |
| 联营企业及其他参股权益收益 | $9.80M | $3.60M | $11.00M | $27.10M | $9.30M |
| 其他营业费用 | $171.40M | $171.00M | $162.70M | $692.90M | $182.40M |
| 税前利润 | $220.30M | $244.60M | $237.10M | $843.80M | $257.80M |
| 税费 | $48.00M | $53.20M | $50.30M | $183.10M | $60.80M |
| 净利润 | $172.60M | $191.40M | $186.80M | $662.50M | $198.50M |
| 持续经营利润 | $172.30M | $191.40M | $186.80M | $660.70M | $197.00M |
| 终止经营净利润 | $300,000.00 | – | – | $1.80M | $1.50M |
| 归属母公司净利润 | $172.60M | $191.60M | $186.80M | $662.50M | $198.50M |
| 归属普通股股东净利润 | $172.60M | $191.60M | $186.80M | $662.50M | $198.50M |
| 基本每股收益 | $4.97 | $5.48 | $5.30 | $18.50 | $5.59 |
| 摊薄每股收益 | $4.86 | $5.38 | $5.20 | $18.16 | $5.47 |
| 每股股息 | $0.95 | $0.95 | $0.95 | $3.65 | $0.95 |
资产负债表
| 项目 | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| 总资产 | $17.04B | $16.86B | $16.53B | $16.95B | $16.95B |
| 现金及现金等价物 | $506.30M | $266.10M | $243.50M | $1.12B | $1.12B |
| 投资合计 | $10.67B | $10.90B | $10.80B | $10.38B | $10.38B |
| -短期投资 | $200.20M | $1.76B | $1.78B | $1.87B | $1.87B |
| -股权投资 | $9.83B | $8.51B | $8.38B | $7.85B | $7.85B |
| -其他投资资产 | $638.60M | $637.60M | $637.30M | $661.40M | $661.40M |
| 应收款 | $4.17B | $4.03B | $3.91B | $3.87B | $3.87B |
| -应收账款 | $4.17B | $4.03B | $3.91B | $3.87B | $3.87B |
| 应计投资收益 | $84.00M | $88.00M | $76.40M | $80.10M | $80.10M |
| 商誉及其他无形资产 | $178.80M | $178.80M | $178.80M | $178.80M | $178.80M |
| -商誉 | $178.80M | $178.80M | $178.80M | $178.80M | $178.80M |
| 递延保单获取成本 | $741.80M | $716.20M | $690.80M | $703.00M | $703.00M |
| 终止经营资产 | $79.50M | $84.60M | $83.30M | $83.60M | $83.60M |
| 其他资产 | $419.40M | $490.50M | $443.30M | $439.30M | $439.30M |
| 负债合计 | $13.60B | $13.19B | $12.96B | $13.37B | $13.37B |
| 保单持有人负债 | $11.87B | $11.48B | $11.31B | $11.20B | $11.20B |
| 应付款 | $792.60M | $761.30M | $693.90M | $851.90M | $851.90M |
| -应付账款 | $49.00M | $45.10M | $43.40M | $45.20M | $45.20M |
| -应付税款合计 | $743.60M | $716.20M | $650.50M | $806.70M | $806.70M |
| 长期债务及融资租赁负债 | $844.20M | $844.00M | $843.80M | $1.22B | $1.22B |
| -长期债务 | $844.20M | $844.00M | $843.80M | $1.22B | $1.22B |
| 其他负债 | $100.40M | $104.80M | $106.50M | $108.60M | $108.60M |
| 股东权益合计 | $3.44B | $3.67B | $3.57B | $3.57B | $3.57B |
| 股东权益 | $3.44B | $3.67B | $3.57B | $3.57B | $3.57B |
| 股本 | $600,000.00 | $600,000.00 | $600,000.00 | $600,000.00 | $600,000.00 |
| -普通股 | $600,000.00 | $600,000.00 | $600,000.00 | $600,000.00 | $600,000.00 |
| -优先股 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 资本公积 | $2.05B | $2.03B | $2.02B | $2.01B | $2.01B |
| 留存收益 | $4.19B | $4.05B | $3.89B | $3.74B | $3.74B |
| 减：库存股 | $2.24B | $2.16B | $2.10B | $2.01B | $2.01B |
| 不影响留存收益的损益 | -$553.10M | -$255.70M | -$237.90M | -$171.40M | -$171.40M |
现金流量表
| 项目 | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| 经营活动现金流 | $519.80M | $212.30M | $118.80M | $1.18B | $378.20M |
| 持续经营经营活动现金流净额 | $519.80M | $212.30M | $118.80M | $1.18B | $378.20M |
| 持续经营净利润 | $172.60M | $191.60M | $186.80M | $662.50M | $198.50M |
| 持续经营损益 | $15.80M | -$1.10M | $4.20M | $53.10M | $18.30M |
| 递延税款 | -$5.60M | -$1.70M | -$1.30M | $14.10M | $3.70M |
| 其他非现金项目 | $69.40M | – | – | $21.20M | $200,000.00 |
| 营运资金变动 | $257.60M | $64.90M | -$75.70M | $396.20M | $151.00M |
| -应收款变动 | -$137.10M | -$119.70M | -$37.00M | -$69.60M | $37.60M |
| -赔款及理赔费用准备变动 | $382.90M | $165.90M | $116.80M | $447.10M | -$21.50M |
| -递延获取成本变动 | -$25.60M | -$25.40M | $12.20M | -$40.20M | $5.30M |
| -应付账款及应计费用变动 | $37.40M | $44.10M | -$167.70M | $58.90M | $129.60M |
| 投资活动现金流净额 | -$161.90M | -$106.20M | -$493.80M | -$666.20M | -$23.60M |
| 持续经营投资活动现金流净额 | -$161.90M | -$106.20M | -$493.80M | -$666.20M | -$23.60M |
| 资本支出 | -$1.80M | -$2.90M | -$3.50M | -$7.70M | -$1.20M |
| 投资购置及出售净额 | -$160.10M | -$103.30M | -$490.30M | -$658.50M | -$22.40M |
| 筹资活动现金流 | -$117.80M | -$83.10M | -$504.60M | $175.20M | -$149.60M |
| 持续经营筹资活动现金流净额 | -$117.80M | -$83.10M | -$504.60M | $175.20M | -$149.60M |
| Net Issuance Payments of Debt | $0.00 | $0.00 | -$375.00M | $433.20M | -$61.80M |
| 普通股发行净额 | -$86.40M | -$55.00M | -$86.90M | -$129.20M | -$54.60M |
| 已付现金股利 | -$32.90M | -$33.10M | -$33.50M | -$130.60M | -$33.70M |
| 股票期权行使所得 | $5.90M | $8.20M | $3.90M | $15.40M | $1.70M |
| 其他筹资费用净额 | -$4.40M | -$3.20M | -$13.10M | -$13.60M | -$1.20M |
| 期末现金余额 | $506.30M | $266.10M | $243.50M | $1.12B | $1.12B |
| 现金净变动 | $240.10M | $23.00M | -$879.60M | $687.10M | $205.00M |
| 期初现金余额 | $266.10M | $243.50M | $1.12B | $435.50M | $915.70M |
| 自由现金流 | $518.00M | $209.40M | $115.30M | $1.17B | $377.00M |
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