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Financials · MKL

Markel Group Inc. (MKL) financials

For the twelve months ended Sep 30, 2026, Markel Group Inc. reported $15.74B of revenue and $1.79B of net income.

Revenue, TTM
$15.74B
Revenue growth, YoY
+3.3%
Net income, TTM
$1.79B
Net income growth, YoY
-13.8%
Net margin
11.4%
Free cash flow, TTM
$1.80B
EPS, diluted, TTM
$140.23
EPS growth, YoY
-12.4%
Cash
$3.60B
Total debt
$4.36B
P/E
13.31
P/S
1.52
Market cap
$23.86B
Annual revenue$15.51B
FY2016FY2025
Annual net income$2.11B
FY2016FY2025
Annual free cash flow$2.55B
FY2016FY2025

MKL revenue and earnings growth

MKL revenueQ3 2026$4.16B

Quarter YoY
+5.7%
QoQ
+3.5%
FY YoY
+4.7%
5Y CAGR
+9.8%
10Y CAGR
+11.2%

MKL revenue was $4.16B in fiscal Q3 2026 (ended Sep 30, 2026), up 5.7% from a year earlier and up 3.5% from the prior quarter. For the full fiscal 2025 it was $15.51B, up 4.7% from fiscal 2024. Compound annual growth was +9.8% over 5 years and +11.2% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

MKL net incomeQ3 2026$259.25M

Quarter YoY
-65.5%
QoQ
-77.8%
FY YoY
-23.3%
5Y CAGR
+20.9%
10Y CAGR
+13.7%

MKL net income was $259.25M in fiscal Q3 2026 (ended Sep 30, 2026), down 65.5% from a year earlier and down 77.8% from the prior quarter. For the full fiscal 2025 it was $2.11B, down 23.3% from fiscal 2024. Compound annual growth was +20.9% over 5 years and +13.7% over 10 years.

MKL EPSQ3 2026$18.15

Quarter YoY
-69.4%
QoQ
-80.4%
FY YoY
-15.1%
5Y CAGR
+24.9%
10Y CAGR
+15.0%

MKL diluted EPS was $18.15 in fiscal Q3 2026 (ended Sep 30, 2026), down 69.4% from a year earlier and down 80.4% from the prior quarter. For the full fiscal 2025 it was $169.22, down 15.1% from fiscal 2024. Compound annual growth was +24.9% over 5 years and +15.0% over 10 years.

MKL free cash flowQ3 2026$849.48M

Quarter YoY
-27.1%
QoQ
+120.9%
FY YoY
+9.2%
5Y CAGR
+9.3%
10Y CAGR
+16.2%

MKL free cash flow was $849.48M in fiscal Q3 2026 (ended Sep 30, 2026), down 27.1% from a year earlier and up 120.9% from the prior quarter. For the full fiscal 2025 it was $2.55B, up 9.2% from fiscal 2024. Compound annual growth was +9.3% over 5 years and +16.2% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$15.51B$14.81B$14.28B$11.68B$12.85B$9.74B$9.53B$6.84B$6.06B$5.61B
Operating income$3.19B$3.71B$2.93B-$93.34M$3.24B$1.27B$2.48B$39.76M$216.61M$805.17M
Interest expense$205.91M$204.30M$185.08M$196.06M$183.58M$177.58M$171.69M$154.21M$132.45M$129.90M
Pre-tax income$2.73B$3.64B$2.65B-$151.57M$3.13B$1.00B$2.29B-$7.86M$87.30M$629.92M
Income tax$580.30M$790.29M$552.62M-$48.21M$683.96M$168.68M$486.35M$122.50M-$313.46M$169.48M
Net income$2.11B$2.75B$2.00B-$216.28M$2.42B$816.03M$1.79B-$128.18M$395.27M$455.69M
EPS, basic$169.74$199.69$147.32-$23.72$176.79$55.67$129.25-$9.55$25.89$31.41
EPS, diluted$169.22$199.32$146.98-$23.72$176.38$55.63$129.07-$9.55$25.81$31.27
Diluted shares12.6M13.0M13.4M13.6M13.8M13.8M13.9M13.9M14.0M14.1M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$3.96B$4.19B$4.33B$5.22B$4.88B$5.22B$3.50B$2.40B$2.50B$2.09B
Inventory$703.40M$731.10M$617.20M$639.60M$529.30M$412.60M$303.10M$298.70M--
Goodwill$2.82B$2.74B$2.62B$2.64B$2.90B$2.60B$2.31B$2.24B$1.78B$1.14B
Total assets$68.91B$61.90B$55.05B$49.79B$48.48B$41.71B$37.47B$33.31B$32.81B$25.88B
Total 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
Shareholders' equity$18.60B$16.92B$14.98B$13.15B$14.72B$12.80B$11.07B$9.08B$9.50B$8.46B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$2.76B$2.59B$2.79B$2.71B$2.27B$1.74B$1.27B$892.86M$858.53M$534.62M
Capital expenditures$206.89M$254.99M$258.62M$254.71M$145.25M$101.30M$123.38M$106.59M$74.65M$63.67M
Free cash flow$2.55B$2.34B$2.53B$2.45B$2.13B$1.64B$1.15B$786.26M$783.88M$470.95M
Investing cash flow-$1.19B-$2.40B-$2.70B-$1.67B-$2.94B-$511.75M-$535.16M-$797.24M-$744.46M-$1.64B
Financing cash flow-$1.21B-$297.88M-$999.72M-$595.31M$369.77M$434.56M$359.32M-$178.99M$256.31M$152.02M
Share repurchases$429.52M$572.73M$445.48M$290.80M$206.52M$26.83M$116.31M$54.01M$110.84M$51.14M
Depreciation and amortization$347.92M$342.36M$319.73M$309.45M$336.39M$307.07M$269.24M$227.85M$203.87M$194.15M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY4.7%3.7%22.3%-9.1%32.0%2.2%39.2%12.9%8.0%4.5%
Net income growth, YoY-23.3%37.6%--196.9%-54.4%---13.3%-21.8%
EPS growth, YoY-15.1%35.6%--217.1%-56.9%---17.5%-25.1%
Operating margin20.6%25.1%20.5%-0.8%25.2%13.1%26.0%0.6%3.6%14.3%
Net margin13.6%18.5%14.0%-1.9%18.9%8.4%18.8%-1.9%6.5%8.1%
Free cash flow margin16.5%15.8%17.7%21.0%16.6%16.8%12.1%11.5%12.9%8.4%
Return on equity11.3%16.2%13.3%-1.6%16.5%6.4%16.2%-1.4%4.2%5.4%
Return on assets3.1%4.4%3.6%-0.4%5.0%2.0%4.8%-0.4%1.2%1.8%
Debt to equity0.230.260.250.310.300.270.32---

Source: XBRL data Markel Group Inc. files with the SEC, latest filing dated Oct 28, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MKL peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MKL$15.74B+3.3%$1.79B11.4%$23.86B
CB$61.85B+5.7%$11.23B18.2%$138.87B
PGR$91.73B+7.7%$11.62B12.7%$131.82B
TRV$48.92B+1.1%$8.33B17.0%$80.99B
ALL$70.23B+5.1%$11.61B16.5%$62.80B
AIG$27.73B+1.2%$3.29B11.9%$41.28B
HIG$29.87B+9.2%$4.61B15.4%$36.06B
ACGL$18.78B-3.9%$4.38B23.3%$35.20B
CINF$13.28B+9.9%$2.66B20.1%$28.58B

MKL FAQ

8 questions
  • What is MKL revenue?
    Markel Group Inc. (MKL) reported $15.74B of revenue for the twelve months ended Sep 30, 2026. That is up 3.3% from the year before. Revenue for fiscal 2025 was $15.51B.
  • Is MKL profitable?
    Yes. Markel Group Inc. earned $1.79B in net income for the twelve months ended Sep 30, 2026, a net margin of 11.4%.
  • How much cash and debt does MKL have?
    Markel Group Inc. reported $3.60B in cash and cash equivalents and $4.36B of debt on its most recent balance sheet in SEC filings.
  • How fast is MKL revenue growing?
    Markel Group Inc.'s revenue changed +4.7% in fiscal 2025, to $15.51B. Its compound annual growth rate was +9.8% over 5 years and +11.2% over 10 years.
  • What is MKL free cash flow?
    Markel Group Inc. generated $1.80B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $2.05B less capital expenditures.
  • What is MKL earnings per share?
    Diluted earnings per share were $140.23 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MKL last report financial results?
    The latest statements here come from Markel Group Inc.'s 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.
  • Where does this MKL financial data come from?
    Quantisnow builds these statements from the structured XBRL data Markel Group Inc. files with the SEC. It is provided for information only and is not investment advice.