MKL · Markel Group Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $15.51B | $16.62B | $15.80B | $11.68B | $12.85B | $9.74B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - |
| Total Operating Expenses | $13.39B | $12.91B | $12.87B | $11.77B | $9.60B | $8.46B |
| D&A | - | - | - | - | - | - |
| Operating Income | $3.19B | $3.71B | $2.93B | ($92.99M) | $3.24B | $1.27B |
| Interest Expense | $205.91M | $204.30M | $185.08M | $196.06M | $183.58M | $177.58M |
| Income Tax | $580.30M | $790.29M | $552.62M | ($47.64M) | $684.46M | $168.68M |
| Net Income | $2.11B | $2.75B | $2.00B | ($214.12M) | $2.43B | $816.03M |
| EPS - Basic | $169.74 | $199.69 | $147.32 | ($23.57) | $176.92 | $55.67 |
| EPS - Diluted | $169.22 | $199.32 | $146.98 | ($23.57) | $176.51 | $55.63 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.96B | $3.69B | $3.75B | $4.14B | $3.98B | $4.34B |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | $703.40M | $631.50M | $617.20M | $639.60M | $529.30M | $412.60M |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $68.91B | $61.90B | $55.05B | $49.79B | $48.45B | $41.71B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | $4.30B | $4.33B | $3.78B | $4.10B | $4.36B | $3.53B |
| Total Liabilities | $49.80B | $44.43B | $39.52B | $36.14B | $33.27B | $28.65B |
| Stockholders' Equity | $18.60B | $16.92B | $14.98B | $13.07B | $14.70B | $12.80B |
| Retained Earnings | $15.03B | $13.38B | $11.35B | $9.84B | $10.42B | $8.20B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.76B | $2.59B | $2.79B | $2.71B | $2.27B | $1.74B |
| Investing Cash Flow | ($1.19B) | ($2.40B) | ($2.70B) | ($1.67B) | ($2.94B) | ($511.75M) |
| Financing Cash Flow | ($1.21B) | ($297.88M) | ($999.72M) | ($595.31M) | $369.77M | $434.56M |
| CapEx | $206.89M | $254.99M | $258.62M | $254.71M | $145.25M | $101.30M |
| Free Cash Flow | $2.55B | $2.34B | $2.53B | $2.45B | $2.13B | $1.64B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 20.6% | 22.3% | 18.5% | -0.8% | 25.2% | 13.1% |
| EBITDA margin | - | - | - | - | - | - |
| Net margin | 13.6% | 16.5% | 12.6% | -1.8% | 18.9% | 8.4% |
| Free cash flow margin | 16.5% | 14.1% | 16.0% | 21.0% | 16.6% | 16.8% |
| FCF / Net income | 1.21 | 0.85 | 1.27 | -11.46 | 0.88 | 2.01 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 21.6% | 22.3% | 21.7% | - | 22.0% | 17.1% |
| Return on assets | 3.1% | 4.4% | 3.6% | -0.4% | 5.0% | 2.0% |
| Return on equity | 11.3% | 16.2% | 13.3% | -1.6% | 16.5% | 6.4% |
| Return on invested capital | 10.9% | 13.6% | 12.2% | -0.4% | 13.3% | 6.5% |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | 0.23 | 0.26 | 0.25 | 0.31 | 0.30 | 0.28 |
| Debt / Assets | 0.06 | 0.07 | 0.07 | 0.08 | 0.09 | 0.08 |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 15.5x | 18.2x | 15.8x | -0.5x | 17.7x | 7.2x |
| Equity multiplier | 3.71 | 3.66 | 3.67 | 3.81 | 3.30 | 3.26 |
| Liabilities / Assets | 0.72 | 0.72 | 0.72 | 0.73 | 0.69 | 0.69 |
| Efficiency | ||||||
| Asset turnover | 0.23 | 0.27 | 0.29 | 0.23 | 0.27 | 0.23 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 12.7x | 8.7x | 9.7x | - | 7.0x | 18.6x |
| P / B | 1.5x | 1.3x | 1.3x | 1.4x | 1.2x | 1.1x |
| P / S | 1.8x | 1.4x | 1.2x | 1.5x | 1.3x | 1.5x |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -6.7% | 5.2% | 35.4% | -9.1% | 32.0% | 2.2% |
| Revenue CAGR (3y) | 9.9% | 9.0% | 17.5% | 7.0% | 23.4% | 17.1% |
| Revenue CAGR (5y) | 9.8% | 11.8% | 18.2% | 14.0% | 18.0% | 12.6% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | -13.9% | 26.8% | - | - | 154.6% | -48.6% |
| Net income growth (YoY) | -23.3% | 37.6% | - | - | 197.2% | -54.4% |
| EPS growth (YoY) | -15.1% | 35.6% | - | - | 217.3% | -56.9% |
| EPS CAGR (3y) | - | 4.1% | 38.2% | - | - | 29.2% |
| EPS CAGR (5y) | 24.9% | 9.1% | - | - | 41.4% | 5.9% |
| FCF growth (YoY) | 9.2% | -7.5% | 3.0% | 15.3% | 30.1% | 42.2% |
| FCF CAGR (5y) | 9.3% | 15.2% | 26.3% | 25.6% | 35.2% | 23.4% |
| Book value growth (YoY) | 9.9% | 12.9% | 14.7% | -11.1% | 14.8% | 15.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$5.25B totalIndustrial$3.76B · 71.7%
Consumer And Other$1.31B · 25.0%
Financial$163.16M · 3.1%
Markel Insurance$10.52M · 0.2%
Product / service
$1.76B totalProduct$1.59B · 90.2%
Management Fees$161.89M · 9.2%
Services$10.52M · 0.6%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- -Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Fire, Marine & Casualty Insurance
Comparing MARKEL GROUP INC. against the 5 most active filers in the same SIC group.