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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%
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% (at or above 15%: strong)
This Y EPS Growth (17.22%) (below 0%: weak)
Next Y EPS Growth 19.08% (at or above 15%: strong)
Next Y revenue growth (3.97%) (below 0%: weak)
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.

Target Price Range

Analyst price targets

Recommendation Rating

3.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Markel Group Inc. vs peers in Insurance Property & Casualty (Q) = latest quarter vs a year earlier

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.

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stockrow.com/MKL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com