MARKEL GROUP INC. MKL

Financials SIC 6331 - Fire, Marine & Casualty Insurance NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers › Direct Insurance (except Life, Health, and Medical) Carriers › Direct Property and Casualty Insurance Carriers derived NYSE

Markel Group is a holding company that owns independently operated businesses across a range of industries. The cornerstone business, Markel Insurance, provides specialized insurance products that are not typically available through the standard insurance market. This insurance business sits at the center of the Company's strategy. It generates and holds capital used to support growth and investment across Markel Group. The other majority-owned businesses operate in diverse end markets, from industrial bakery equipment to ornamental plants to precast concrete. Markel Group also owns shares in publicly traded companies, primarily within its insurance operations.

Markel Group supports each business by empowering leaders to make the best long-term decisions for their businesses. Customers, associates, and shareholders each benefit from this approach, given how it allows businesses to pursue opportunities that require time, stability, and trust. We believe this approach is difficult to replicate and makes Markel Group a distinctive home for businesses.

Last close 1,870.09 2026-10-23
Market cap $23.17B 2026-06-30 share count
52-week range 1,704.17 - 2,207.59

Valuation FY2025 figures against the last close

P/S1.5x
P/E11.1x
P/FCF9.1x
EV/EBITDA6.6x
Dividend yield—
Diluted EPS169.22

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $15.51B$14.81B$14.28B$11.68B$12.85B$3.13B$2.42B$2.13B$1.41B$1.31B
Total operating expenses $13.39B$12.91B$12.87B$11.77B$9.60B$8.46B$7.05B$6.80B$5.85B$4.81B
Operating income $3.19B$3.71B$2.93B-$93.3M$3.24B$1.27B$2.48B$39.8M$216.6M$805.2M
Interest expense $205.9M$204.3M$185.1M$196.1M$183.6M$177.6M$171.7M$154.2M$132.5M$129.9M
Pre-tax income $2.73B$3.64B$2.65B-$151.6M$3.13B$1.00B$2.29B-$7.9M$87.3M$629.9M
Income tax $580.3M$790.3M$552.6M$48.2M$684.0M$168.7M$486.3M$122.5M$313.5M$169.5M
Net income $2.11B$2.75B$2.00B-$216.3M$2.42B$816.0M$1.79B-$128.2M$395.3M$455.7M
EPS, basic 169.74199.69147.32-23.72176.7955.67129.25-9.5525.8931.41
EPS, diluted 169.22199.32146.98-23.72176.3855.63129.07-9.5525.8131.27
Shares, diluted (wtd. avg.) 12.6M13.0M13.4M13.6M13.8M13.8M13.9M13.9M14.0M14.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $3.96B$3.69B$4.33B$5.22B$4.88B$5.22B$3.50B$2.40B$2.50B$2.09B
Inventory $703.4M$731.1M$617.2M$639.6M$529.3M$412.6M$303.1M$298.7M——
Property, plant and equipment $1.50B$1.40B$1.30B$1.20B$1.10B$632.0M$588.6M$551.5M$501.6M$412.4M
Goodwill $2.82B$2.74B$2.62B$2.64B$2.90B$2.60B$2.31B$2.24B$1.78B$1.14B
Other intangibles $1.54B$1.46B$1.59B$1.75B$1.82B$1.78B$1.74B$1.73B$1.36B$722.5M
Total assets $68.91B$61.90B$55.05B$49.79B$48.48B$41.71B$37.47B$33.31B$32.81B$25.88B
Long-term debt $4.30B$4.33B$3.78B$4.10B$4.36B$3.48B$3.53B———
Total liabilities $49.80B$44.43B$39.52B$36.05B$33.28B$28.65B$26.22B$24.03B$23.14B$17.33B
Retained earnings $15.03B$13.38B$11.35B$9.83B$10.45B$8.20B$7.46B$5.78B$3.78B$3.53B
Total equity $18.60B$16.92B$14.98B$13.15B$14.72B$12.80B$11.07B$9.08B$9.50B$8.46B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.76B$2.59B$2.79B$2.71B$2.27B$1.74B$1.27B$892.9M$858.5M$534.6M
Depreciation and amortisation $347.9M$342.4M$319.7M$309.4M$336.4M$307.1M$269.2M$227.8M$203.9M$194.1M
Capital expenditure $206.9M$255.0M$258.6M$254.7M$145.2M$101.3M$123.4M$106.6M$74.7M$63.7M
Investing cash flow -$1.19B-$2.40B-$2.70B-$1.67B-$2.94B-$511.7M-$535.2M-$797.2M-$744.5M-$1.64B
Financing cash flow -$1.21B-$297.9M-$999.7M-$595.3M$369.8M$434.6M$359.3M-$179.0M$256.3M$152.0M
Buybacks $429.5M$572.7M$445.5M$290.8M$206.5M$26.8M$116.3M$54.0M$110.8M$51.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001096343-26-000020.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B 20B Revenue, FY2016: 1.3B Net income, FY2016: 455.7M Revenue, FY2017: 1.4B Net income, FY2017: 395.3M Revenue, FY2018: 2.1B Net income, FY2018: -128.2M Revenue, FY2019: 2.4B Net income, FY2019: 1.8B Revenue, FY2020: 3.1B Net income, FY2020: 816M Revenue, FY2021: 12.8B Net income, FY2021: 2.4B Revenue, FY2022: 11.7B Net income, FY2022: -216.3M Revenue, FY2023: 14.3B Net income, FY2023: 2B Revenue, FY2024: 14.8B Net income, FY2024: 2.7B Revenue, FY2025: 15.5B Net income, FY2025: 2.1B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.31B $1.41B $2.13B $2.42B $3.13B $12.85B $11.68B $14.28B $14.81B $15.51B
Gross profit — — — — — — — — — —
Net income $455.7M $395.3M -$128.2M $1.79B $816.0M $2.42B -$216.3M $2.00B $2.75B $2.11B

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Regulation FD disclosure Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Charter or fiscal year changed Item 5.03
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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