Markel Group Inc. (MKL) vs Old Republic International Corporation (ORI)

Markel Group Inc. and Old Republic International Corporation are both Insurance Property & Casualty companies. Markel Group Inc. is the larger, with a market value of $22.6B against $9.3B — 2.4× the size. Old Republic International Corporation trades at the lower P/E: 8.5× against 10.1×. Old Republic International Corporation grew revenue faster over the last twelve months: 12.1% against 0.86%. Markel Group Inc. has the higher net margin (13.8% vs 11.7%) and the lower return on invested capital (10.0% vs 12.1%). Across the 20 metrics below, Old Republic International Corporation leads on 11 and Markel Group Inc. on 9.

Valuation

Metric MKL ORI Insurance Property & Casualty median
P/E 10.13 8.47 10.75
P/S 1.40 0.98 1.21
P/B 1.22 1.56 1.99
Price to free cash flow 10.96 7.43 7.76
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.87% 11.81% 9.08%
Free cash flow yield 9.12% 13.46% 12.11%

Profitability

Metric MKL ORI Insurance Property & Casualty median
Gross margin 51.93% 15.79% 41.16%
Operating margin 18.63% 15.79% 15.09%
Net margin 13.77% 11.71% 11.51%
Free cash flow margin 12.76% 13.17% 17.46%
Return on equity 12.57% 18.52% 17.34%
Return on assets 3.31% 3.74% 3.74%
Return on invested capital 10.01% 12.06% 12.06%

Growth

Metric MKL ORI Insurance Property & Casualty median
Revenue growth (TTM) 0.86% 12.12% 8.02%
EPS growth (last fiscal year) (15.10%) 14.81% 39.61%
Revenue growth, 5-year CAGR 11.25% 4.98% 9.23%
Net income growth, 5-year CAGR 21.14% 10.86% 10.09%

Health

Metric MKL ORI Insurance Property & Casualty median
Debt to equity 0.23 0.38 0.25
Current ratio 0.57 0.19 0.42
Net debt to EBITDA (0.09) 1.04 0.08

Dividend

Metric MKL ORI Insurance Property & Casualty median
Dividend yield — 3.11% 1.50%
Payout ratio — 0.27 0.14

Size

Metric MKL ORI Insurance Property & Casualty median
Market cap 22.61b 9.34b 2.67b

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