Markel Group (MKL) Financials

$1,898.42 -9.66 (-0.51%)

Closing price 05/28/2025 03:59 PM Eastern

Extended Trading

$1,898.54 +0.13 (+0.01%)

As of 05/28/2025 07:19 PM Eastern

Annual Income Statements for Markel Group

This table shows Markel Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	2,711	1,960	-252	2,387	798	1,790	-128	395	456	583
Consolidated Net Income / (Loss)	2,847	2,101	-103	2,446	832	1,799	-130	401	460	589
Net Income / (Loss) Continuing Operations	2,847	2,101	-103	2,446	832	1,799	-130	401	460	589
Total Pre-Tax Income	3,638	2,654	-152	3,130	1,000	2,286	-7.86	87	630	742
Total Revenue	16,416	15,619	11,479	12,663	9,557	9,355	6,687	5,929	5,438	5,252
Net Interest Income / (Expense)	-204	-185	-196	-184	-178	-172	-154	-132	-130	-118
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	204	185	196	184	178	172	154	132	130	118
Long-Term Debt Interest Expense	204	185	196	184	178	172	154	132	130	118
Total Non-Interest Income	16,621	15,804	11,675	12,846	9,735	9,526	6,841	6,062	5,568	5,370
Other Service Charges	2,825	2,705	2,809	2,285	1,690	813	635	462	422	1,087
Net Realized & Unrealized Capital Gains on Investments	2,728	2,259	-1,149	2,346	994	2,054	-3.38	400	394	460
Premiums Earned	8,432	8,295	7,588	6,503	5,612	5,050	4,712	4,248	3,866	3,824
Other Non-Interest Income	2,636	2,545	2,427	1,712	1,440	1,610	1,498	951	885	-
Total Non-Interest Expense	12,779	12,965	11,631	9,533	8,557	7,069	6,695	5,842	4,808	4,510
Property & Liability Insurance Claims	5,053	5,322	4,446	3,581	3,467	2,891	2,821	2,866	2,051	1,939
Other Operating Expenses	4,697	4,531	4,549	3,569	2,817	2,131	1,888	1,309	1,172	1,047
Amortization Expense	181	181	179	161	159	149	116	81	69	69
Impairment Charge	0.00	0.00	80	0.00	0.00	-	199	0.00	19	-
Restructuring Charge	2,977	2,841	2,516	2,294	-	1,878	1,778	1,589	1,497	1,455
Other Special Charges	-129	90	-138	-72	96	20	-107	-3.14	1.25	-
Income Tax Expense	790	553	-48	684	169	486	122	-313	169	153
Preferred Stock Dividends Declared	36	36	36	36	18	0.00	0.00	-	-	-
Net Income / (Loss) Attributable to Noncontrolling Interest	100	105	113	23	16	9.00	-2.17	5.49	4.75	6.37
Basic Earnings per Share	$199.69	$147.32	($23.72)	$176.79	$55.67	$129.25	($9.55)	$25.89	$31.41	$41.99
Weighted Average Basic Shares Outstanding	12.77M	13.11M	13.41M	13.61M	13.78M	13.78M	13.92M	15.30M	14.01M	13.98M
Diluted Earnings per Share	$199.32	$146.98	($23.72)	$176.38	$55.63	$129.07	($9.55)	$25.81	$31.27	$41.74
Weighted Average Diluted Shares Outstanding	12.77M	13.11M	13.41M	13.61M	13.78M	13.78M	13.92M	15.30M	14.01M	13.98M
Weighted Average Basic & Diluted Shares Outstanding	12.77M	13.11M	13.41M	13.61M	13.78M	13.78M	13.92M	15.30M	14.01M	13.98M

This table shows Markel Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	122	531	905	250	1,025	751	43	678	489	674	60
Consolidated Net Income / (Loss)	129	561	947	290	1,049	794	53	716	538	712	117
Net Income / (Loss) Continuing Operations	129	561	947	290	1,049	794	53	716	538	712	117
Total Pre-Tax Income	158	724	1,206	366	1,342	1,007	68	908	672	904	133
Total Revenue	3,347	3,788	4,558	3,649	4,421	4,599	3,331	4,095	3,594	4,064	3,066
Net Interest Income / (Expense)	-52	-53	-53	-53	-46	-44	-45	-47	-49	-49	-47
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	52	53	53	53	46	44	45	47	49	49	47
Long-Term Debt Interest Expense	52	53	53	53	46	44	45	47	49	49	47
Total Non-Interest Income	3,399	3,841	4,611	3,702	4,467	4,643	3,375	4,143	3,643	4,211	3,066
Other Service Charges	661	787	736	684	618	741	726	672	566	847	692
Net Realized & Unrealized Capital Gains on Investments	88	361	1,153	93	1,121	1,146	-74	654	532	744	-169
Premiums Earned	2,089	2,118	2,110	2,077	2,128	2,175	2,122	2,031	1,968	2,038	1,957
Other Non-Interest Income	561	575	612	847	601	581	602	785	578	582	587
Total Non-Interest Expense	3,189	3,065	3,352	3,283	3,079	3,592	3,263	3,187	2,922	3,258	2,886
Property & Liability Insurance Claims	1,255	1,242	1,291	1,233	1,288	1,557	1,404	1,188	1,173	1,229	1,185
Other Operating Expenses	1,068	1,172	1,159	1,305	1,060	1,140	1,152	1,242	996	1,129	1,127
Amortization Expense	47	46	46	44	44	44	48	44	44	44	43
Restructuring Charge	747	785	744	710	739	769	698	698	676	672	643
Other Special Charges	73	-181	112	-8.71	-52	81	-39	15	33	104	-114
Income Tax Expense	28	162	259	76	293	213	14	192	134	192	16
Preferred Stock Dividends Declared	0.00	18	0.00	18	0.00	18	0.00	18	0.00	18	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	7.63	12	42	22	24	25	11	20	49	20	57
Basic Earnings per Share	$12.11	$39.07	$66.40	$18.66	$75.56	$56.64	$3.15	$50.20	$37.33	$48.84	$3.09
Weighted Average Basic Shares Outstanding	12.68M	12.77M	12.86M	12.95M	13.00M	13.11M	13.22M	13.26M	13.35M	13.41M	13.45M
Diluted Earnings per Share	$12.08	$39.02	$66.25	$18.62	$75.43	$56.49	$3.14	$50.09	$37.26	$48.85	$3.08
Weighted Average Diluted Shares Outstanding	12.68M	12.77M	12.86M	12.95M	13.00M	13.11M	13.22M	13.26M	13.35M	13.41M	13.45M
Weighted Average Basic & Diluted Shares Outstanding	12.68M	12.77M	12.86M	12.95M	13.00M	13.11M	13.22M	13.26M	13.35M	13.41M	13.45M

This table details how cash moves in and out of Markel Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-140	-889	341	-336	1,716	1,104	-104	416	-985	588
Net Cash From Operating Activities	2,594	2,787	2,709	2,274	1,738	1,274	893	859	535	651
Net Cash From Continuing Operating Activities	2,594	2,787	2,709	2,274	1,738	1,274	893	859	535	651
Net Income / (Loss) Continuing Operations	2,847	2,101	-103	2,446	832	1,799	-130	401	460	589
Consolidated Net Income / (Loss)	2,847	2,101	-103	2,446	832	1,799	-130	401	460	589
Depreciation Expense	342	320	309	336	307	269	228	204	194	201
Amortization Expense	-124	-60	58	-	-	-	-	-	-	-
Non-Cash Adjustments to Reconcile Net Income	-1,937	-1,453	1,312	-2,073	-522	-1,599	530	2.16	-1.07	-106
Changes in Operating Assets and Liabilities, net	1,464	1,879	1,134	1,564	1,121	805	265	252	-119	-32
Net Cash From Investing Activities	-2,399	-2,704	-1,670	-2,938	-512	-535	-797	-744	-1,638	63
Net Cash From Continuing Investing Activities	-2,399	-2,704	-1,670	-2,938	-658	-535	-797	-744	-1,638	63
Purchase of Property, Leasehold Improvements and Equipment	-255	-259	-255	-145	-101	-123	-107	-75	-64	-80
Purchase of Investment Securities	-4,390	-4,911	-3,472	-3,742	-2,779	-1,538	-1,555	-2,621	-2,904	-1,923
Divestitures	0.00	41	201	41	0.00	-	-	-	-	-
Sale and/or Maturity of Investments	2,246	2,425	1,394	909	2,222	1,126	2,073	1,374	1,329	2,066
Other Investing Activities, net	0.00	0.00	461	0.00	0.00	-	-33	578	-	-
Net Cash From Financing Activities	-298	-1,000	-595	370	435	359	-179	256	152	-74
Net Cash From Continuing Financing Activities	-298	-1,000	-595	370	435	359	-179	256	152	-74
Issuance of Debt	1,434	625	1,034	1,199	223	1,645	207	665	559	70
Repayment of Debt	-897	-950	-1,255	-487	-276	-1,131	-332	-260	-322	-88
Repurchase of Common Equity	-573	-445	-291	-207	-27	-116	-54	-111	-51	-31
Payment of Dividends	-153	-125	-36	-36	-18	0.00	0.00	-7.90	-5.95	-6.29
Other Financing Activities, Net	-109	-105	-48	-99	-59	-39	-	-30	-28	-23
Effect of Exchange Rate Changes	-37	27	-103	-42	56	5.64	-21	45	-33	-53

This table details how cash moves in and out of Markel Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	483	-434	411	-61	-55	-713	-196	236	-217	426	-115
Net Cash From Operating Activities	376	494	891	579	631	823	956	724	284	829	959
Net Cash From Continuing Operating Activities	376	494	891	579	631	823	956	724	284	829	959
Net Income / (Loss) Continuing Operations	129	561	947	290	1,049	794	53	716	538	712	117
Consolidated Net Income / (Loss)	129	561	947	290	1,049	794	53	716	538	712	117
Non-Cash Adjustments to Reconcile Net Income	247	-1,751	-56	289	-419	-2,110	902	8.51	-254	-1,383	843
Net Cash From Investing Activities	193	-514	-326	-994	-564	-1,361	-969	-265	-109	-387	-880
Net Cash From Continuing Investing Activities	193	-514	-326	-994	-564	-1,361	-969	-265	-109	-387	-880
Purchase of Property, Leasehold Improvements and Equipment	-41	-74	-52	-57	-72	-104	-76	-42	-37	-45	-99
Purchase of Investment Securities	-831	-946	-913	-1,452	-1,079	-2,143	-1,301	-741	-727	-1,106	-987
Sale and/or Maturity of Investments	1,065	506	638	515	587	886	407	477	656	672	206
Net Cash From Financing Activities	-106	-364	-189	358	-103	-200	-169	-218	-412	-104	-104
Net Cash From Continuing Financing Activities	-106	-364	-189	358	-103	-200	-169	-218	-412	-104	-104
Issuance of Debt	263	156	177	829	272	149	120	195	161	276	229
Repayment of Debt	-203	-180	-223	-284	-209	-138	-166	-277	-369	-272	-246
Repurchase of Common Equity	-170	-184	-129	-99	-161	-176	-82	-105	-82	-83	-82
Other Financing Activities, Net	3.83	-20	-15	-69	-4.89	71	-41	-12	-122	-7.51	-5.75
Effect of Exchange Rate Changes	19	-50	35	-3.17	-19	26	-13	-5.61	20	88	-90

This table presents Markel Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	61,898	55,046	49,791	48,477	41,710	37,474	33,306	32,805	25,875	24,939
Cash and Due from Banks	3,693	3,747	4,137	3,978	4,342	3,073	2,014	2,198	1,739	2,630
Restricted Cash	500	585	1,084	902	875	428	382	302	346	440
Trading Account Securities	27,530	23,951	19,529	21,611	17,676	17,562	15,764	15,909	14,637	13,469
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Unearned Premiums Asset	18,179	15,056	13,474	11,506	9,371	8,696	8,245	7,413	1,583	1,436
Deferred Acquisition Cost	876	931	925	794	631	566	475	466	392	353
Goodwill	2,736	2,625	2,639	2,899	2,605	2,309	2,238	1,777	1,142	1,168
Intangible Assets	1,460	1,589	1,747	1,822	1,783	1,738	1,726	1,356	723	792
Other Assets	6,926	6,562	6,255	4,963	4,428	3,102	2,462	3,384	5,313	4,651
Total Liabilities & Shareholders' Equity	61,898	55,046	49,791	48,477	41,710	37,474	33,306	32,805	25,875	24,939
Total Liabilities	44,429	39,520	36,054	33,276	28,650	26,218	24,032	23,137	17,334	17,036
Long-Term Debt	4,330	3,780	4,104	4,361	3,484	3,534	3,010	3,099	2,575	2,239
Claims and Claim Expense	26,633	23,483	20,948	18,179	16,222	14,729	14,276	13,584	10,116	10,252
Future Policy Benefits	583	649	651	903	1,070	986	1,001	1,072	1,050	1,123
Unearned Premiums Liability	7,064	6,642	6,221	5,384	4,433	4,058	3,611	3,309	2,264	2,166
Other Long-Term Liabilities	5,818	4,965	4,131	4,449	3,440	2,912	2,133	2,073	1,331	1,255
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	540	470	523	461	246	178	174	166	74	63
Total Equity & Noncontrolling Interests	16,929	15,056	13,214	14,740	12,815	11,078	9,100	9,502	8,467	7,841
Total Preferred & Common Equity	16,916	14,984	13,151	14,717	12,800	11,071	9,081	9,504	8,461	7,834
Preferred Stock	592	592	592	592	592	0.00	-	-	-	-
Total Common Equity	16,324	14,392	12,559	14,125	12,208	11,071	9,081	9,504	8,461	7,834
Common Stock	3,561	3,517	3,494	3,441	3,428	3,405	3,393	3,382	3,369	3,342
Retained Earnings	13,380	11,353	9,833	10,447	8,195	7,457	5,782	3,777	3,526	3,137
Accumulated Other Comprehensive Income / (Loss)	-617	-478	-767	238	584	209	-95	2,346	1,566	1,355
Noncontrolling Interest	13	72	63	23	15	7.55	20	-2.57	6.48	6.46

This table presents Markel Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	64,599	62,283	59,710	57,286	52,749	52,184	50,942	48,421
Cash and Due from Banks	4,194	3,873	3,511	3,627	4,355	4,306	4,032	3,541
Restricted Cash	481	753	705	650	690	935	973	1,255
Trading Account Securities	27,975	27,659	25,570	25,090	21,526	21,435	20,517	18,677
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Unearned Premiums Asset	20,234	18,069	17,657	15,968	14,800	14,477	13,940	13,501
Deferred Acquisition Cost	961	968	1,001	962	986	1,013	994	946
Goodwill	2,772	2,740	2,738	2,626	2,623	2,627	2,643	2,797
Intangible Assets	1,635	1,508	1,553	1,546	1,633	1,678	1,706	1,686
Other Assets	6,347	6,714	6,973	6,818	6,135	5,714	6,138	6,018
Total Liabilities & Shareholders' Equity	64,599	62,283	59,710	57,286	52,749	52,184	50,942	48,421
Total Liabilities	46,855	44,620	43,285	40,969	38,226	37,481	36,661	35,550
Long-Term Debt	4,391	4,356	4,400	3,855	3,769	3,814	3,897	4,131
Claims and Claim Expense	27,888	25,877	24,647	24,145	22,144	21,375	21,307	20,194
Future Policy Benefits	588	623	595	617	600	644	669	733
Unearned Premiums Liability	7,692	7,887	8,244	7,154	7,197	7,072	6,570	6,515
Other Long-Term Liabilities	6,296	5,876	5,399	5,197	4,515	4,576	4,218	3,976
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	580	515	477	500	467	464	492	513
Total Equity & Noncontrolling Interests	17,165	17,147	15,949	15,818	14,055	14,239	13,789	12,359
Total Preferred & Common Equity	17,149	17,014	15,850	15,730	13,999	14,185	13,744	12,294
Preferred Stock	592	592	592	592	592	592	592	592
Total Common Equity	16,557	16,422	15,258	15,138	13,407	13,594	13,153	11,702
Common Stock	3,583	3,553	3,547	3,548	3,520	3,515	3,507	3,483
Retained Earnings	13,365	13,063	12,330	12,185	10,779	10,819	10,255	9,256
Accumulated Other Comprehensive Income / (Loss)	-391	-194	-618	-595	-891	-741	-610	-1,036
Noncontrolling Interest	16	133	99	88	56	54	45	65

This table displays calculated financial ratios and metrics derived from Markel Group's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.11%	36.06%	-9.35%	32.49%	2.17%	39.89%	12.78%	9.03%	3.55%	4.69%
EBITDA Growth	32.36%	1,252.74%	-93.79%	165.10%	-48.83%	1,061.43%	-24.44%	-64.67%	-12.62%	46.45%
EBIT Growth	37.08%	1,850.86%	-104.84%	212.84%	-56.23%	29,200.04%	-109.00%	-86.14%	-15.12%	68.52%
NOPAT Growth	35.52%	2,080.36%	-104.34%	194.06%	-53.78%	32,826.42%	-101.37%	-12.96%	-21.85%	82.01%
Net Income Growth	35.52%	2,132.85%	-104.23%	194.06%	-53.78%	1,480.45%	-132.53%	-12.96%	-21.85%	82.01%
EPS Growth	35.61%	719.65%	-113.45%	217.06%	-56.90%	1,451.52%	-137.00%	-17.46%	-25.08%	87.43%
Operating Cash Flow Growth	-6.92%	2.86%	19.15%	30.88%	36.38%	42.70%	4.00%	60.59%	-17.90%	-9.16%
Free Cash Flow Firm Growth	-44.38%	-60.64%	382.22%	37.92%	-30.51%	-247.97%	138.19%	-144.12%	-241.16%	161.88%
Invested Capital Growth	12.92%	8.21%	-8.80%	18.25%	11.86%	20.40%	-3.78%	14.86%	9.59%	2.28%
Revenue Q/Q Growth	-4.70%	3.54%	3.19%	3.25%	1.63%	29.92%	-8.53%	4.04%	0.10%	1.61%
EBITDA Q/Q Growth	-5.94%	10.63%	-39.52%	9.58%	-6.39%	945.07%	-81.35%	49.81%	7.13%	29.87%
EBIT Q/Q Growth	-7.23%	8.16%	-184.61%	4.13%	-19.36%	2,137.68%	-100.74%	-29.52%	-9.92%	12.60%
NOPAT Q/Q Growth	-7.55%	4.09%	-281.97%	1.06%	67.75%	236.62%	-100.52%	325.73%	-12.47%	15.72%
Net Income Q/Q Growth	-7.55%	4.09%	-277.28%	63.24%	-41.33%	236.62%	-112.27%	325.73%	-12.47%	15.72%
EPS Q/Q Growth	-8.06%	5.48%	-129.85%	1.61%	71.33%	230.86%	-112.79%	473.56%	-13.86%	17.05%
Operating Cash Flow Q/Q Growth	-11.24%	-0.24%	7.01%	8.37%	-4.72%	51.39%	-12.72%	6.13%	25.76%	-10.87%
Free Cash Flow Firm Q/Q Growth	154.69%	-12.82%	1.27%	-21.01%	-103.26%	42.57%	241.22%	-414.37%	23.95%	1,156.05%
Invested Capital Q/Q Growth	-1.00%	5.54%	4.93%	5.51%	5.73%	0.63%	-5.01%	10.71%	-0.70%	1.48%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	23.49%	18.65%	1.88%	27.37%	13.68%	27.31%	3.29%	4.91%	15.15%	17.96%
EBIT Margin	22.16%	16.99%	-1.32%	24.72%	10.47%	24.44%	-0.12%	1.47%	11.58%	14.13%
Profit (Net Income) Margin	17.34%	13.45%	-0.90%	19.32%	8.70%	19.24%	-1.95%	6.76%	8.47%	11.22%
Tax Burden Percent	78.27%	79.18%	68.19%	78.15%	83.14%	78.72%	1,659.49%	459.08%	73.10%	79.39%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	21.73%	20.82%	0.00%	21.85%	16.86%	21.28%	0.00%	-359.08%	26.90%	20.61%
Return on Invested Capital (ROIC)	13.85%	11.31%	-0.57%	13.55%	5.31%	13.29%	-0.04%	3.36%	4.33%	5.87%
ROIC Less NNEP Spread (ROIC-NNEP)	13.85%	11.31%	-0.50%	13.55%	5.31%	13.29%	-4.13%	3.36%	4.33%	5.87%
Return on Net Nonoperating Assets (RNNOA)	3.41%	3.05%	-0.15%	3.76%	1.53%	4.24%	-1.33%	1.05%	1.27%	1.70%
Return on Equity (ROE)	17.26%	14.36%	-0.71%	17.31%	6.84%	17.53%	-1.38%	4.40%	5.60%	7.57%
Cash Return on Invested Capital (CROIC)	1.72%	3.42%	8.64%	-3.17%	-5.89%	-5.22%	3.81%	-10.47%	-4.82%	3.62%
Operating Return on Assets (OROA)	6.22%	5.06%	-0.31%	6.94%	2.53%	6.46%	-0.02%	0.30%	2.48%	2.96%
Return on Assets (ROA)	4.87%	4.01%	-0.21%	5.42%	2.10%	5.08%	-0.39%	1.37%	1.81%	2.35%
Return on Common Equity (ROCE)	16.07%	13.23%	-0.66%	16.13%	6.55%	17.21%	-1.35%	4.34%	5.55%	7.50%
Return on Equity Simple (ROE_SIMPLE)	16.83%	14.02%	-0.79%	16.62%	6.50%	16.25%	-1.44%	4.22%	5.44%	7.52%
Net Operating Profit after Tax (NOPAT)	2,847	2,101	-106	2,446	832	1,799	-5.50	401	460	589
NOPAT Margin	17.34%	13.45%	-0.92%	19.32%	8.70%	19.24%	-0.08%	6.76%	8.47%	11.22%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	-0.06%	0.00%	0.00%	0.00%	4.09%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	77.84%	83.01%	101.32%	75.28%	89.53%	75.56%	100.12%	98.53%	88.42%	85.87%
Earnings before Interest and Taxes (EBIT)	3,638	2,654	-152	3,130	1,000	2,286	-7.86	87	630	742
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,857	2,914	215	3,466	1,308	2,555	220	291	824	943
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.36	1.30	1.41	1.19	1.17	1.43	1.59	1.67	1.50	1.57
Price to Tangible Book Value (P/TBV)	1.83	1.84	2.17	1.79	1.82	2.25	2.82	2.48	1.92	2.10
Price to Revenue (P/Rev)	1.35	1.20	1.54	1.33	1.49	1.69	2.16	2.67	2.33	2.35
Price to Earnings (P/E)	8.19	9.58	0.00	7.07	17.85	8.82	0.00	40.04	27.77	21.15
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	12.21%	10.44%	0.00%	14.15%	5.60%	11.34%	0.00%	2.50%	3.60%	4.73%
Enterprise Value to Invested Capital (EV/IC)	1.08	1.00	1.00	0.89	0.81	1.08	1.24	1.30	1.19	1.14
Enterprise Value to Revenue (EV/Rev)	1.43	1.24	1.55	1.38	1.40	1.71	2.28	2.80	2.43	2.20
Enterprise Value to EBITDA (EV/EBITDA)	6.09	6.64	82.55	5.03	10.22	6.27	69.18	56.97	16.05	12.26
Enterprise Value to EBIT (EV/EBIT)	6.46	7.29	0.00	5.57	13.35	7.00	0.00	190.01	20.99	15.58
Enterprise Value to NOPAT (EV/NOPAT)	8.25	9.21	0.00	7.12	16.06	8.90	0.00	41.39	28.72	19.62
Enterprise Value to Operating Cash Flow (EV/OCF)	9.05	6.94	6.56	7.66	7.69	12.56	17.05	19.32	24.74	17.76
Enterprise Value to Free Cash Flow (EV/FCFF)	66.39	30.42	11.00	0.00	0.00	0.00	31.86	0.00	0.00	31.85
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.25	0.24	0.30	0.29	0.27	0.31	0.32	0.32	0.30	0.28
Long-Term Debt to Equity	0.25	0.24	0.30	0.29	0.27	0.31	0.32	0.32	0.30	0.28
Financial Leverage	0.25	0.27	0.29	0.28	0.29	0.32	0.32	0.31	0.29	0.29
Leverage Ratio	3.54	3.58	3.40	3.19	3.26	3.45	3.49	3.22	3.09	3.22
Compound Leverage Factor	3.54	3.58	3.40	3.19	3.26	3.45	3.49	3.22	3.09	3.22
Debt to Total Capital	19.86%	19.58%	23.00%	22.29%	21.06%	23.90%	24.50%	24.28%	23.16%	22.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	19.86%	19.58%	23.00%	22.29%	21.06%	23.90%	24.50%	24.28%	23.16%	22.08%
Preferred Equity to Total Capital	2.72%	3.07%	3.32%	3.03%	3.58%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	2.54%	2.81%	3.28%	2.48%	1.57%	1.25%	1.58%	1.28%	0.72%	0.68%
Common Equity to Total Capital	74.88%	74.55%	70.40%	72.21%	73.79%	74.85%	73.92%	74.44%	76.12%	77.24%
Debt to EBITDA	1.12	1.30	19.05	1.26	2.66	1.38	13.68	10.64	3.12	2.37
Net Debt to EBITDA	0.04	-0.19	-5.19	-0.15	-1.33	0.01	2.79	2.06	0.59	-0.88
Long-Term Debt to EBITDA	1.12	1.30	19.05	1.26	2.66	1.38	13.68	10.64	3.12	2.37
Debt to NOPAT	1.52	1.80	-38.68	1.78	4.19	1.96	-547.35	7.73	5.59	3.80
Net Debt to NOPAT	0.05	-0.26	10.54	-0.21	-2.08	0.02	-111.51	1.49	1.06	-1.41
Long-Term Debt to NOPAT	1.52	1.80	-38.68	1.78	4.19	1.96	-547.35	7.73	5.59	3.80
Noncontrolling Interest Sharing Ratio	6.91%	7.90%	7.79%	6.82%	4.27%	1.85%	1.89%	1.34%	0.91%	0.88%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	354	636	1,616	-573	-922	-707	478	-1,251	-512	363
Operating Cash Flow to CapEx	1,017.29%	1,077.57%	1,063.73%	1,565.63%	1,715.27%	1,032.71%	837.63%	1,150.04%	839.63%	816.44%
Free Cash Flow to Firm to Interest Expense	1.73	3.44	8.24	-3.12	-5.19	-4.12	3.10	-9.44	-3.94	3.07
Operating Cash Flow to Interest Expense	12.70	15.06	13.82	12.39	9.78	7.42	5.79	6.48	4.12	5.50
Operating Cash Flow Less CapEx to Interest Expense	11.45	13.66	12.52	11.60	9.21	6.70	5.10	5.92	3.63	4.83
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.28	0.30	0.23	0.28	0.24	0.26	0.20	0.20	0.21	0.21
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	21,799	19,306	17,841	19,563	16,544	14,790	12,284	12,767	11,116	10,143
Invested Capital Turnover	0.80	0.84	0.61	0.70	0.61	0.69	0.53	0.50	0.51	0.52
Increase / (Decrease) in Invested Capital	2,494	1,465	-1,722	3,019	1,754	2,506	-483	1,651	973	226
Enterprise Value (EV)	23,486	19,351	17,781	17,423	13,357	16,009	15,220	16,587	13,225	11,562
Market Capitalization	22,203	18,769	17,721	16,867	14,237	15,790	14,413	15,825	12,655	12,323
Book Value per Share	$1,269.14	$1,088.78	$933.74	$1,033.45	$886.04	$801.51	$654.01	$684.15	$604.72	$561.58
Tangible Book Value per Share	$942.95	$770.03	$607.63	$688.01	$567.61	$508.51	$368.50	$458.61	$471.44	$421.06
Total Capital	21,799	19,306	17,841	19,563	16,544	14,790	12,284	12,767	11,116	10,143
Total Debt	4,330	3,780	4,104	4,361	3,484	3,534	3,010	3,099	2,575	2,239
Total Long-Term Debt	4,330	3,780	4,104	4,361	3,484	3,534	3,010	3,099	2,575	2,239
Net Debt	138	-552	-1,118	-520	-1,733	34	613	598	489	-831
Capital Expenditures (CapEx)	255	259	255	145	101	123	107	75	64	80
Net Nonoperating Expense (NNE)	0.00	0.00	-2.74	0.00	0.00	0.00	125	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	4,330	3,780	4,104	4,361	3,484	3,534	3,010	3,099	2,575	2,239
Total Depreciation and Amortization (D&A)	219	260	367	336	307	269	228	204	194	201
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$199.69	$147.32	($23.57)	$176.92	$55.67	$129.25	($9.55)	$25.89	$31.41	$41.99
Adjusted Weighted Average Basic Shares Outstanding	12.77M	13.11M	13.41M	13.61M	13.78M	13.78M	13.87M	13.90M	13.96M	13.96M
Adjusted Diluted Earnings per Share	$199.32	$146.98	($23.57)	$176.51	$55.63	$129.07	($9.55)	$25.81	$31.27	$41.74
Adjusted Weighted Average Diluted Shares Outstanding	12.77M	13.11M	13.41M	13.61M	13.78M	13.78M	13.87M	13.90M	13.96M	13.96M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	12.77M	13.11M	13.41M	13.61M	13.78M	13.78M	13.87M	13.90M	13.96M	13.96M
Normalized Net Operating Profit after Tax (NOPAT)	5,077	4,422	1,614	4,182	911	3,294	1,304	1,172	1,569	1,744
Normalized NOPAT Margin	30.92%	28.31%	14.06%	33.03%	9.54%	35.21%	19.49%	19.76%	28.86%	33.21%
Pre Tax Income Margin	22.16%	16.99%	-1.32%	24.72%	10.47%	24.44%	-0.12%	1.47%	11.58%	14.13%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	17.81	14.34	-0.77	17.05	5.63	13.31	-0.05	0.66	4.85	6.27
NOPAT to Interest Expense	13.94	11.35	-0.54	13.32	4.68	10.48	-0.04	3.03	3.54	4.98
EBIT Less CapEx to Interest Expense	16.56	12.94	-2.07	16.26	5.06	12.60	-0.74	0.10	4.36	5.60
NOPAT Less CapEx to Interest Expense	12.69	9.96	-1.84	12.53	4.11	9.76	-0.73	2.46	3.05	4.31
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	5.38%	5.95%	-34.83%	1.47%	2.21%	0.00%	0.00%	1.97%	1.29%	1.07%
Augmented Payout Ratio	25.50%	27.15%	-316.18%	9.92%	5.44%	6.46%	-41.43%	29.63%	12.40%	6.41%

This table displays calculated financial ratios and metrics derived from Markel Group's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-24.30%	-17.62%	36.85%	-10.89%	23.02%	13.15%	8.63%	128.51%	40.58%	9.55%	16.10%
EBITDA Growth	-85.23%	-26.74%	988.95%	-56.91%	93.60%	23.60%	-48.63%	192.80%	3,525.66%	-27.89%	-20.95%
EBIT Growth	-88.24%	-28.14%	1,687.11%	-59.68%	99.80%	24.83%	-62.62%	184.71%	1,103.06%	-29.08%	-26.02%
NOPAT Growth	-87.67%	-29.30%	1,677.69%	-59.51%	95.09%	11.60%	-54.38%	191.17%	1,247.58%	-18.51%	-38.44%
Net Income Growth	-87.67%	-29.30%	1,677.69%	-59.51%	95.09%	11.60%	-54.38%	181.10%	1,201.78%	-18.51%	-38.44%
EPS Growth	-83.99%	-30.93%	2,009.87%	-62.83%	102.44%	15.64%	1.95%	172.44%	673.23%	-21.53%	-79.59%
Operating Cash Flow Growth	-40.35%	-39.95%	-6.79%	-20.13%	121.92%	-0.80%	-0.38%	43.14%	-31.50%	27.25%	18.54%
Free Cash Flow Firm Growth	-93.76%	-187.99%	-124.98%	-5,418.31%	-168.76%	-127.57%	-174.70%	77.65%	166.20%	213.44%	161.19%
Invested Capital Growth	9.73%	12.92%	20.38%	12.46%	10.98%	8.21%	7.58%	4.24%	-4.41%	-8.80%	-8.29%
Revenue Q/Q Growth	-11.65%	-16.89%	24.90%	-17.46%	-2.92%	38.07%	-18.67%	13.95%	-11.57%	32.56%	71.08%
EBITDA Q/Q Growth	-73.42%	-38.54%	205.32%	-70.40%	37.71%	813.58%	-87.92%	33.01%	-15.81%	279.65%	121.83%
EBIT Q/Q Growth	-78.20%	-40.02%	229.52%	-72.71%	39.44%	1,391.50%	-92.56%	35.19%	-16.74%	346.68%	116.85%
NOPAT Q/Q Growth	-76.96%	-40.71%	226.70%	-72.37%	32.12%	1,390.75%	-92.56%	33.12%	-24.42%	509.42%	114.87%
Net Income Q/Q Growth	-76.96%	-40.71%	226.70%	-72.37%	32.12%	1,390.75%	-92.56%	33.12%	-24.42%	509.42%	113.23%
EPS Q/Q Growth	-69.04%	-41.10%	255.80%	-75.31%	33.53%	1,699.04%	-93.73%	34.43%	-23.73%	1,486.04%	104.45%
Operating Cash Flow Q/Q Growth	-23.84%	-44.55%	53.95%	-8.25%	-23.33%	-13.93%	31.92%	154.92%	-65.73%	-13.56%	89.54%
Free Cash Flow Firm Q/Q Growth	5.15%	30.50%	-37.79%	-113.32%	-40.98%	45.70%	-3,279.60%	-102.66%	-43.48%	47.12%	1,111.37%
Invested Capital Q/Q Growth	1.54%	-1.00%	5.73%	3.23%	4.49%	5.54%	-1.22%	1.87%	1.89%	4.93%	-4.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	6.12%	20.33%	27.49%	11.24%	31.35%	22.86%	3.45%	23.25%	19.92%	20.92%	7.31%
EBIT Margin	4.71%	19.10%	26.47%	10.03%	30.35%	21.89%	2.03%	22.17%	18.69%	19.84%	5.89%
Profit (Net Income) Margin	3.86%	14.82%	20.78%	7.94%	23.73%	17.27%	1.60%	17.48%	14.96%	17.51%	3.81%
Tax Burden Percent	81.99%	77.60%	78.50%	79.17%	78.20%	78.87%	78.91%	78.86%	80.09%	78.71%	87.64%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	112.08%	73.78%
Effective Tax Rate	18.01%	22.40%	21.50%	20.83%	21.80%	21.13%	21.09%	21.14%	19.91%	21.29%	12.36%
Return on Invested Capital (ROIC)	2.80%	11.84%	17.76%	6.46%	20.35%	14.52%	1.37%	14.28%	10.07%	10.75%	2.38%
ROIC Less NNEP Spread (ROIC-NNEP)	2.80%	11.84%	17.76%	6.46%	20.35%	14.52%	1.37%	14.28%	10.07%	10.75%	2.38%
Return on Net Nonoperating Assets (RNNOA)	0.68%	2.91%	4.48%	1.70%	5.16%	3.91%	0.39%	4.25%	2.90%	3.14%	0.74%
Return on Equity (ROE)	3.48%	14.75%	22.24%	8.16%	25.51%	18.43%	1.76%	18.53%	12.98%	13.89%	3.12%
Cash Return on Invested Capital (CROIC)	-0.16%	1.72%	-3.21%	-0.62%	3.22%	3.42%	4.13%	7.33%	7.10%	8.64%	8.98%
Operating Return on Assets (OROA)	1.19%	5.36%	7.93%	2.87%	9.22%	6.52%	0.60%	6.56%	4.68%	4.64%	1.38%
Return on Assets (ROA)	0.97%	4.16%	6.22%	2.27%	7.21%	5.15%	0.48%	5.17%	3.75%	4.09%	0.89%
Return on Common Equity (ROCE)	3.24%	13.73%	20.61%	7.57%	23.59%	16.98%	1.61%	17.06%	11.98%	12.81%	2.89%
Return on Equity Simple (ROE_SIMPLE)	11.24%	0.00%	18.10%	13.79%	16.61%	0.00%	14.42%	14.68%	3.52%	0.00%	0.47%
Net Operating Profit after Tax (NOPAT)	129	561	947	290	1,049	794	53	716	538	712	117
NOPAT Margin	3.86%	14.82%	20.78%	7.94%	23.73%	17.27%	1.60%	17.48%	14.96%	17.51%	3.81%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	95.29%	80.90%	73.53%	89.97%	69.65%	78.11%	97.97%	77.83%	81.32%	80.16%	94.11%
Earnings before Interest and Taxes (EBIT)	158	724	1,206	366	1,342	1,007	68	908	672	807	181
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	205	770	1,253	410	1,386	1,051	115	952	716	850	224
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.44	1.36	1.24	1.34	1.33	1.30	1.46	1.36	1.30	1.41	1.25
Price to Tangible Book Value (P/TBV)	1.97	1.83	1.67	1.87	1.83	1.84	2.13	1.99	1.95	2.17	2.03
Price to Revenue (P/Rev)	1.56	1.35	1.18	1.28	1.22	1.20	1.29	1.25	1.37	1.54	1.32
Price to Earnings (P/E)	13.21	8.19	6.93	9.90	8.06	9.58	10.38	9.72	59.45	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.57%	12.21%	14.44%	10.10%	12.41%	10.44%	9.64%	10.29%	1.68%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.12	1.08	0.97	1.05	1.03	1.00	1.06	0.98	0.94	1.00	0.89
Enterprise Value to Revenue (EV/Rev)	1.62	1.43	1.24	1.36	1.27	1.24	1.28	1.22	1.37	1.55	1.36
Enterprise Value to EBITDA (EV/EBITDA)	9.39	6.09	5.19	7.37	5.96	6.64	7.36	6.62	22.44	82.55	42.60
Enterprise Value to EBIT (EV/EBIT)	10.10	6.46	5.43	7.85	6.28	7.29	7.90	7.07	29.22	0.00	84.68
Enterprise Value to NOPAT (EV/NOPAT)	12.85	8.25	6.91	9.99	7.99	9.21	9.60	8.71	35.49	0.00	260.18
Enterprise Value to Operating Cash Flow (EV/OCF)	10.59	9.05	7.28	7.31	6.66	6.94	6.93	6.49	6.65	6.56	5.99
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	66.39	0.00	0.00	33.80	30.42	26.55	13.65	12.98	11.00	9.51
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.25	0.25	0.25	0.27	0.24	0.24	0.26	0.26	0.27	0.30	0.32
Long-Term Debt to Equity	0.25	0.25	0.25	0.27	0.24	0.24	0.26	0.26	0.27	0.30	0.32
Financial Leverage	0.24	0.25	0.25	0.26	0.25	0.27	0.29	0.30	0.29	0.29	0.31
Leverage Ratio	3.58	3.54	3.57	3.59	3.54	3.58	3.69	3.58	3.46	3.40	3.50
Compound Leverage Factor	3.58	3.54	3.57	3.59	3.54	3.58	3.69	3.58	3.46	3.81	2.59
Debt to Total Capital	19.84%	19.86%	19.78%	21.13%	19.11%	19.58%	20.61%	20.60%	21.44%	23.00%	24.30%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	19.84%	19.86%	19.78%	21.13%	19.11%	19.58%	20.61%	20.60%	21.44%	23.00%	24.30%
Preferred Equity to Total Capital	2.67%	2.72%	2.69%	2.84%	2.93%	3.07%	3.24%	3.20%	3.26%	3.32%	3.48%
Noncontrolling Interests to Total Capital	2.69%	2.54%	2.95%	2.76%	2.91%	2.81%	2.86%	2.80%	2.95%	3.28%	3.40%
Common Equity to Total Capital	74.80%	74.88%	74.58%	73.27%	75.04%	74.55%	73.30%	73.41%	72.35%	70.40%	68.82%
Debt to EBITDA	1.66	1.12	1.06	1.49	1.10	1.30	1.43	1.39	5.10	19.05	11.60
Net Debt to EBITDA	-0.11	0.04	-0.07	0.06	-0.12	-0.19	-0.48	-0.52	-1.45	-5.19	-1.87
Long-Term Debt to EBITDA	1.66	1.12	1.06	1.49	1.10	1.30	1.43	1.39	5.10	19.05	11.60
Debt to NOPAT	2.28	1.52	1.41	2.01	1.48	1.80	1.87	1.83	8.06	-38.68	70.86
Net Debt to NOPAT	-0.15	0.05	-0.09	0.08	-0.16	-0.26	-0.63	-0.69	-2.29	10.54	-11.40
Long-Term Debt to NOPAT	2.28	1.52	1.41	2.01	1.48	1.80	1.87	1.83	8.06	-38.68	70.86
Noncontrolling Interest Sharing Ratio	6.95%	6.91%	7.32%	7.31%	7.54%	7.90%	8.34%	7.90%	7.64%	7.79%	7.43%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,833	-1,932	-2,780	-2,018	-946	-671	-1,236	-37	1,376	2,434	1,654
Operating Cash Flow to CapEx	924.01%	667.94%	1,716.61%	1,011.67%	876.48%	794.48%	1,263.34%	1,714.08%	764.36%	1,825.16%	971.54%
Free Cash Flow to Firm to Interest Expense	-35.15	-36.60	-52.10	-38.36	-20.77	-15.30	-27.74	-0.77	27.82	49.70	34.94
Operating Cash Flow to Interest Expense	7.22	9.36	16.69	11.00	13.85	18.75	21.45	15.34	5.75	16.93	20.26
Operating Cash Flow Less CapEx to Interest Expense	6.43	7.96	15.72	9.91	12.27	16.39	19.75	14.45	5.00	16.00	18.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.25	0.28	0.30	0.29	0.30	0.30	0.30	0.30	0.25	0.23	0.23
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	22,135	21,799	22,019	20,825	20,173	19,306	18,292	18,517	18,178	17,841	17,003
Invested Capital Turnover	0.73	0.80	0.85	0.81	0.86	0.84	0.85	0.82	0.67	0.61	0.63
Increase / (Decrease) in Invested Capital	1,962	2,494	3,727	2,308	1,995	1,465	1,289	752	-838	-1,722	-1,538
Enterprise Value (EV)	24,778	23,486	21,276	21,839	20,870	19,351	19,372	18,144	17,149	17,781	15,170
Market Capitalization	23,875	22,203	20,306	20,488	20,112	18,769	19,532	18,461	17,128	17,721	14,665
Book Value per Share	$1,296.52	$1,269.14	$1,268.59	$1,173.46	$1,164.21	$1,088.78	$1,010.76	$1,018.50	$980.91	$933.74	$865.19
Tangible Book Value per Share	$951.39	$942.95	$940.49	$843.45	$843.36	$770.03	$689.86	$696.01	$656.56	$607.63	$533.69
Total Capital	22,135	21,799	22,019	20,825	20,173	19,306	18,292	18,517	18,178	17,841	17,003
Total Debt	4,391	4,330	4,356	4,400	3,855	3,780	3,769	3,814	3,897	4,104	4,131
Total Long-Term Debt	4,391	4,330	4,356	4,400	3,855	3,780	3,769	3,814	3,897	4,104	4,131
Net Debt	-284	138	-270	184	-421	-552	-1,276	-1,427	-1,108	-1,118	-665
Capital Expenditures (CapEx)	41	74	52	57	72	104	76	42	37	45	99
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	4,391	4,330	4,356	4,400	3,855	3,780	3,769	3,814	3,897	4,104	4,131
Total Depreciation and Amortization (D&A)	47	46	46	44	44	44	48	44	44	44	43
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$12.11	$39.07	$66.40	$18.66	$75.56	$56.64	$3.15	$50.20	$37.33	$48.84	$3.51
Adjusted Weighted Average Basic Shares Outstanding	12.68M	12.77M	12.86M	12.95M	13.00M	13.11M	13.22M	13.26M	13.35M	13.41M	13.45M
Adjusted Diluted Earnings per Share	$12.08	$39.02	$66.25	$18.62	$75.43	$56.49	$3.14	$50.09	$37.26	$48.85	$3.50
Adjusted Weighted Average Diluted Shares Outstanding	12.68M	12.77M	12.86M	12.95M	13.00M	13.11M	13.22M	13.26M	13.35M	13.41M	13.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	12.68M	12.77M	12.86M	12.95M	13.00M	13.11M	13.22M	13.26M	13.35M	13.41M	13.45M
Normalized Net Operating Profit after Tax (NOPAT)	802	1,030	1,618	845	1,587	1,465	573	1,278	1,105	1,323	581
Normalized NOPAT Margin	23.95%	27.19%	35.50%	23.16%	35.89%	31.85%	17.21%	31.21%	30.75%	32.54%	18.95%
Pre Tax Income Margin	4.71%	19.10%	26.47%	10.03%	30.35%	21.89%	2.03%	22.17%	18.69%	22.24%	4.34%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.03	13.70	22.61	6.96	29.46	22.95	1.52	19.23	13.58	16.47	3.81
NOPAT to Interest Expense	2.48	10.63	17.75	5.51	23.03	18.10	1.20	15.16	10.88	14.53	2.47
EBIT Less CapEx to Interest Expense	2.24	12.30	21.63	5.87	27.88	20.59	-0.18	18.33	12.83	15.54	1.73
NOPAT Less CapEx to Interest Expense	1.70	9.23	16.77	4.42	21.45	15.74	-0.50	14.27	10.13	13.60	0.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	5.38%	4.06%	5.72%	0.00%	5.95%	1.78%	1.73%	0.00%	-34.83%	61.75%
Augmented Payout Ratio	30.20%	25.50%	22.40%	29.43%	20.07%	27.15%	19.24%	18.62%	60.73%	-316.18%	562.97%

Frequently Asked Questions About Markel Group's Financials

When does Markel Group's financial year end?

According to the most recent income statement we have on file, Markel Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Markel Group's net income changed over the last 9 years?

Markel Group's net income appears to be on an upward trend, with a most recent value of $2.85 billion in 2024, rising from $589.14 million in 2015. The previous period was $2.10 billion in 2023. View Markel Group's forecast to see where analysts expect Markel Group to go next.

How has Markel Group revenue changed over the last 9 years?

Over the last 9 years, Markel Group's total revenue changed from $5.25 billion in 2015 to $16.42 billion in 2024, a change of 212.6%.

How much debt does Markel Group have?

Markel Group's total liabilities were at $44.43 billion at the end of 2024, a 12.4% increase from 2023, and a 160.8% increase since 2015.

How much cash does Markel Group have?

In the past 9 years, Markel Group's cash and equivalents has ranged from $1.74 billion in 2016 to $4.34 billion in 2020, and is currently $3.69 billion as of their latest financial filing in 2024.

How has Markel Group's book value per share changed over the last 9 years?

Over the last 9 years, Markel Group's book value per share changed from 561.58 in 2015 to 1,269.14 in 2024, a change of 126.0%.

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This page (NYSE:MKL) was last updated on 5/29/2025 by MarketBeat.com Staff

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Markel Group (MKL) Financials

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