Saturday 17 October 2026 Export MKL’s income statement to Excel — free account

Markel Group Inc.

MKL Financial Insurance Property & Casualty

Markel Group Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.6 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 12.7%, EPS grew 86.9%, free cash flow fell 15.3% and total debt was flat, each against the same quarter a year earlier. Insiders bought in the last twelve months.

1,850.13 25.59 +1.40%

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Market cap: $22.6B
P/E: 10.1×
Fwd P/E: 12.8×
Dividend yield: —
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.37

Total sells 3.68

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	2	—	—	—	—	—
Sell	2	1	—	1	—	—	1	—	—	—	—	—

Insider Ownership 3.57%

Capital & Financial Ratios $m

Market Cap 22,610.00

Revenue 16,596.45

Net Income 2,326.98

Free Cash Flow 2,118.32

Net Debt 299.70

Current Ratio 0.57

Debt/Equity 0.23

P/E ratio 10.13

Fwd P/E 12.80

P/S ratio 1.40

P/B ratio 1.22

Past 5Y EPS Growth 24.92%

This Y EPS Growth (17.22%)

Next Y EPS Growth 19.08%

Next Y revenue growth (4.45%)

Next 5Y EPS Growth 0.55%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 27.37%

10-year low 10-year high

P/S against its own 10 years 26.24%

10-year low 10-year high

P/B against its own 10 years 7.41%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	4,332	4,192	4,603	4,068
Receivables	12,691	15,232	18,581	19,941
Inventory	—	—	—	—
Other	—	—	—	—
	17,023	19,424	23,184	24,009

	2023	2024	2025	Q'26
Payables	31,813	35,132	39,778	41,775
ST’ Debt	—	—	—	—
Other	—	—	—	—
	31,813	35,132	39,778	41,775

Compound Annual Growth %

	10y	5y	3y
Sales	11.94%	11.25%	12.42%
Cash Flow	15.54%	9.71%	0.63%
Earnings	13.57%	21.14%	0.00%
Book Value	9.02%	7.73%	12.06%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,823	5,186	—	—	—
’25	3,399	4,603	4,367	4,220	16,589
’24	4,467	3,702	4,611	3,841	16,621
’23	3,643	4,143	3,375	4,643	15,804
’22	2,606	1,792	3,066	4,211	11,675
’21	2,900	3,501	2,687	3,758	12,846
’20	336	3,132	2,912	3,356	9,735

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	16	429	—	—	—
’25	376	504	1,218	662	2,761
’24	631	579	891	494	2,594
’23	284	724	956	823	2,787
’22	415	506	959	829	2,709
’21	318	495	809	652	2,274
’20	66	423	773	476	1,738

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(31)	385	—	—	—
’25	335	454	1,166	599	2,554
’24	559	521	839	420	2,339
’23	247	682	880	719	2,528
’22	363	447	861	784	2,455
’21	287	470	784	587	2,129
’20	36	402	751	447	1,636

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(18.90)	92.76	—	—	—
’25	10.08	49.67	59.25	48.75	169.22
’24	75.43	18.62	66.25	38.74	199.32
’23	37.26	50.09	3.14	56.48	146.98
’22	(3.58)	(69.19)	3.50	49.05	(23.57)
’21	42.02	57.02	15.09	62.44	176.51
’20	(100.60)	65.75	31.03	59.33	55.63

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	805.03	887.40	954.39	950.16	710.52	942.44	1,064.09	1,186.56	1,342.66	1,621.89	Analyst estimates 2026–2028 Powerpack
	High	989.18	1,157.30	1,228.32	1,216.47	1,347.64	1,343.56	1,519.25	1,560.00	1,809.11	2,207.59
People
People	Employees	10,900	15,600	17,400	18,600	18,900	20,300	20,900	21,600	22,000	22,900
	Revenue/emp, $m	0.51	0.39	0.39	0.51	0.52	0.63	0.56	0.73	0.76	0.72
Income, $m
Income, $m	Revenue	5,612	6,062	6,841	9,526	9,735	12,846	11,675	15,804	16,621	16,589
	Gross margin, %	36.78	26.50	32.79	49.94	43.66	54.27	40.38	48.35	51.69	50.49
	EBT	630	87	(8)	2,286	1,000	3,130	(152)	2,654	3,638	2,733
	EBT margin, %	11.22	1.44	(0.11)	23.99	10.28	24.36	(1.30)	16.79	21.89	16.47
	Net income	460	401	(130)	1,799	832	2,446	(103)	2,101	2,847	2,152
	Depreciation	213	204	427	269	307	336	447	260	219	244
Per share, $
Per share, $	Revenue	400.49	434.09	491.37	687.27	704.88	933.06	859.74	1,184.06	1,276.85	1,315.67
	Earnings	31.41	25.89	(9.55)	129.25	55.67	176.92	(23.57)	147.32	199.69	169.74
	Cash flow	38.15	61.48	64.13	91.92	125.81	165.17	199.52	208.80	199.28	218.99
	Capex	(4.54)	(5.35)	(7.66)	(8.90)	(7.33)	(10.55)	(18.76)	(19.38)	(19.59)	(16.41)
	Free cash flow	33.61	56.14	56.47	83.02	118.48	154.62	180.76	189.42	179.69	202.58
	Book value	604.25	680.43	653.62	799.25	927.86	1,070.61	973.04	1,128.06	1,300.53	1,474.83
	Shares, m	14	14	14	14	14	14	14	13	13	13
Valuation, ×
Valuation, ×	P/E	29.06	43.08	0.00	8.85	18.54	6.97	0.00	9.75	8.66	12.77
	P/S	2.28	2.57	2.11	1.66	1.47	1.32	1.54	1.21	1.35	1.63
	P/B	1.51	1.64	1.59	1.43	1.17	1.20	1.42	1.33	1.38	1.46
	EV/Sales	2.37	2.67	2.20	1.67	1.29	1.28	1.44	1.18	1.36	1.62
	EV/FCF	28.20	20.65	19.16	13.80	7.66	7.74	6.86	7.37	9.67	10.49
Cash, $m
Cash, $m	Operating cash flow	535	859	893	1,274	1,738	2,274	2,709	2,787	2,594	2,761
	Capex	(64)	(75)	(107)	(123)	(101)	(145)	(255)	(259)	(255)	(207)
	Free cash flow	471	784	786	1,151	1,636	2,129	2,455	2,528	2,339	2,554
Balance, $m
Balance, $m	Working capital	(8,220)	(9,476)	(9,915)	(9,398)	(9,083)	(10,494)	(11,860)	(14,790)	(15,708)	(16,594)
	Total debt	2,575	3,099	3,010	3,534	3,484	4,361	4,104	3,780	4,330	4,304
	Net debt	489	598	613	34	(1,733)	(520)	(1,118)	(552)	138	(299)
	Shareholders’ equity	8,467	9,502	9,100	11,078	12,815	14,740	13,214	15,056	16,929	18,596
Returns, %
Returns, %	ROA	1.79	1.35	(0.39)	5.06	2.01	5.29	(0.51)	3.74	4.64	3.18
	ROIC	5.62	1.34	0.26	13.93	7.18	14.25	(0.48)	12.62	13.60	10.91
	ROE	5.59	4.40	(1.38)	17.75	6.85	18.10	(1.88)	14.47	17.60	11.91

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ALL The Allstate Corporation	$60.6B	4.9×	8.0×	+11.80% (above 0%: growing)	+61.07% (above 0%: growing)	+38.26% (above 0%: growing)	46.58%	22.83%	Compare
WRB W.R. Berkley Corporation	$27.5B	15.3×	14.2×	+1.23% (above 0%: growing)	+14.85% (above 0%: growing)	+6.14% (above 0%: growing)	47.24%	16.33%	Compare
CINF Cincinnati Financial Corporation	$25.7B	8.0×	19.7×	+31.59% (above 0%: growing)	+85.84% (above 0%: growing)	−5.29% (below 0%: shrinking)	37.46%	37.20%	Compare
MKL Markel Group Inc.	$22.6B	10.1×	12.8×	+12.67% (above 0%: growing)	+86.91% (above 0%: growing)	−15.25% (below 0%: shrinking)	62.92%	30.09%
L Loews Corporation	$22.2B	13.5×	16.0×	+3.93% (above 0%: growing)	+15.51% (above 0%: growing)	−18.81% (below 0%: shrinking)	54.18%	15.10%	Compare
AIZ Assurant, Inc.	$13.9B	13.4×	12.9×	+9.37% (above 0%: growing)	+30.00% (above 0%: growing)	+99.03% (above 0%: growing)	78.34%	11.73%	Compare
CNA CNA Financial Corporation	$12.8B	10.5×	10.9×	+3.01% (above 0%: growing)	+7.27% (above 0%: growing)	+16.91% (above 0%: growing)	43.35%	11.44%	Compare
AFG American Financial Group, Inc.	$12.1B	13.0×	11.3×	+5.51% (above 0%: growing)	+44.44% (above 0%: growing)	−68.13% (below 0%: shrinking)	23.15%	16.75%	Compare
ORI Old Republic International Corporation	$9.3B	8.5×	11.7×	+13.37% (above 0%: growing)	+61.45% (above 0%: growing)	+49.25% (above 0%: growing)	17.62%	17.62%	Compare
Median of peers	$18.1B	11.8×	12.3×	+7.44%	+37.22%	+11.53%	44.97%	16.54%

All 45 Insurance Property & Casualty stocks →

Markel Group Inc. (MKL) key facts

Markel Group Inc. (MKL) is an Insurance Property & Casualty company in the Financial sector, listed on the New York Stock Exchange.
Markel Group Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.6 billion, roughly unchanged from fiscal 2024.
As of October 16, 2026, MKL traded at $1,850.13, a market capitalization of $22.6 billion.
Return on equity was 11.9% and debt-to-equity 0.23.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.