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.
Quarterly Income Statements for Markel Group
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 |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
674 |
489 |
678 |
43 |
751 |
1,025 |
250 |
905 |
531 |
122 |
631 |
Consolidated Net Income / (Loss) |
|
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
677 |
Net Income / (Loss) Continuing Operations |
|
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
677 |
Total Pre-Tax Income |
|
904 |
672 |
908 |
68 |
1,007 |
1,342 |
366 |
1,206 |
724 |
158 |
862 |
Total Revenue |
|
4,064 |
3,594 |
4,095 |
3,331 |
4,599 |
4,421 |
3,649 |
4,558 |
3,788 |
3,347 |
4,550 |
Net Interest Income / (Expense) |
|
-49 |
-49 |
-47 |
-45 |
-44 |
-46 |
-53 |
-53 |
-53 |
-52 |
-53 |
Total Interest Income |
|
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
Total Interest Expense |
|
49 |
49 |
47 |
45 |
44 |
46 |
53 |
53 |
53 |
52 |
53 |
Long-Term Debt Interest Expense |
|
49 |
49 |
47 |
45 |
44 |
46 |
53 |
53 |
53 |
52 |
53 |
Total Non-Interest Income |
|
4,211 |
3,643 |
4,143 |
3,375 |
4,643 |
4,467 |
3,702 |
4,611 |
3,841 |
3,399 |
4,603 |
Other Service Charges |
|
847 |
566 |
672 |
726 |
741 |
618 |
684 |
736 |
787 |
661 |
804 |
Net Realized & Unrealized Capital Gains on Investments |
|
744 |
532 |
654 |
-74 |
1,146 |
1,121 |
93 |
1,153 |
361 |
88 |
810 |
Premiums Earned |
|
2,038 |
1,968 |
2,031 |
2,122 |
2,175 |
2,128 |
2,077 |
2,110 |
2,118 |
2,089 |
2,142 |
Other Non-Interest Income |
|
582 |
578 |
785 |
602 |
581 |
601 |
847 |
612 |
575 |
561 |
847 |
Total Non-Interest Expense |
|
3,258 |
2,922 |
3,187 |
3,263 |
3,592 |
3,079 |
3,283 |
3,352 |
3,065 |
3,189 |
3,687 |
Property & Liability Insurance Claims |
|
1,229 |
1,173 |
1,188 |
1,404 |
1,557 |
1,288 |
1,233 |
1,291 |
1,242 |
1,255 |
1,288 |
Other Operating Expenses |
|
1,129 |
996 |
1,242 |
1,152 |
1,140 |
1,060 |
1,305 |
1,159 |
1,172 |
1,068 |
1,382 |
Amortization Expense |
|
44 |
44 |
44 |
48 |
44 |
44 |
44 |
46 |
46 |
47 |
51 |
Restructuring Charge |
|
672 |
676 |
698 |
698 |
769 |
- |
- |
744 |
785 |
747 |
774 |
Other Special Charges |
|
104 |
33 |
15 |
-39 |
81 |
-52 |
-8.71 |
112 |
-181 |
73 |
192 |
Income Tax Expense |
|
192 |
134 |
192 |
14 |
213 |
293 |
76 |
259 |
162 |
28 |
185 |
Preferred Stock Dividends Declared |
|
18 |
0.00 |
18 |
0.00 |
18 |
0.00 |
18 |
0.00 |
18 |
0.00 |
26 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
20 |
49 |
20 |
11 |
25 |
24 |
22 |
42 |
12 |
7.63 |
20 |
Basic Earnings per Share |
|
$48.84 |
$37.33 |
$50.20 |
$3.15 |
$56.64 |
$75.56 |
$18.66 |
$66.40 |
$39.07 |
$12.11 |
$49.80 |
Weighted Average Basic Shares Outstanding |
|
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
12.65M |
Diluted Earnings per Share |
|
$48.85 |
$37.26 |
$50.09 |
$3.14 |
$56.49 |
$75.43 |
$18.62 |
$66.25 |
$39.02 |
$12.08 |
$49.67 |
Weighted Average Diluted Shares Outstanding |
|
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
12.65M |
Weighted Average Basic & Diluted Shares Outstanding |
|
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
12.65M |
Annual Cash Flow Statements for Markel Group
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 |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
-18 |
588 |
-985 |
416 |
-104 |
1,104 |
1,716 |
-336 |
341 |
-889 |
-140 |
Net Cash From Operating Activities |
|
717 |
651 |
535 |
859 |
893 |
1,274 |
1,738 |
2,274 |
2,709 |
2,787 |
2,594 |
Net Cash From Continuing Operating Activities |
|
717 |
651 |
535 |
859 |
893 |
1,274 |
1,738 |
2,274 |
2,709 |
2,787 |
2,594 |
Net Income / (Loss) Continuing Operations |
|
324 |
589 |
460 |
401 |
-130 |
1,799 |
832 |
2,446 |
-103 |
2,101 |
2,847 |
Consolidated Net Income / (Loss) |
|
324 |
589 |
460 |
401 |
-130 |
1,799 |
832 |
2,446 |
-103 |
2,101 |
2,847 |
Depreciation Expense |
|
204 |
201 |
194 |
204 |
228 |
269 |
307 |
336 |
309 |
320 |
342 |
Amortization Expense |
|
- |
- |
- |
- |
- |
- |
- |
- |
58 |
-60 |
-124 |
Non-Cash Adjustments to Reconcile Net Income |
|
-46 |
-106 |
-1.07 |
2.16 |
530 |
-1,599 |
-522 |
-2,073 |
1,312 |
-1,453 |
-1,937 |
Changes in Operating Assets and Liabilities, net |
|
236 |
-32 |
-119 |
252 |
265 |
805 |
1,121 |
1,564 |
1,134 |
1,879 |
1,464 |
Net Cash From Investing Activities |
|
-622 |
63 |
-1,638 |
-744 |
-797 |
-535 |
-512 |
-2,938 |
-1,670 |
-2,704 |
-2,399 |
Net Cash From Continuing Investing Activities |
|
-622 |
63 |
-1,638 |
-744 |
-797 |
-535 |
-658 |
-2,938 |
-1,670 |
-2,704 |
-2,399 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-82 |
-80 |
-64 |
-75 |
-107 |
-123 |
-101 |
-145 |
-255 |
-259 |
-255 |
Purchase of Investment Securities |
|
-3,620 |
-1,923 |
-2,904 |
-2,621 |
-1,555 |
-1,538 |
-2,779 |
-3,742 |
-3,472 |
-4,911 |
-4,390 |
Divestitures |
|
- |
- |
- |
- |
- |
- |
0.00 |
41 |
201 |
41 |
0.00 |
Sale and/or Maturity of Investments |
|
2,815 |
2,066 |
1,329 |
1,374 |
2,073 |
1,126 |
2,222 |
909 |
1,394 |
2,425 |
2,246 |
Other Investing Activities, net |
|
265 |
- |
- |
578 |
-33 |
- |
0.00 |
0.00 |
461 |
0.00 |
0.00 |
Net Cash From Financing Activities |
|
-67 |
-74 |
152 |
256 |
-179 |
359 |
435 |
370 |
-595 |
-1,000 |
-298 |
Net Cash From Continuing Financing Activities |
|
-67 |
-74 |
152 |
256 |
-179 |
359 |
435 |
370 |
-595 |
-1,000 |
-298 |
Issuance of Debt |
|
89 |
70 |
559 |
665 |
207 |
1,645 |
223 |
1,199 |
1,034 |
625 |
1,434 |
Repayment of Debt |
|
-84 |
-88 |
-322 |
-260 |
-332 |
-1,131 |
-276 |
-487 |
-1,255 |
-950 |
-897 |
Repurchase of Common Equity |
|
-26 |
-31 |
-51 |
-111 |
-54 |
-116 |
-27 |
-207 |
-291 |
-445 |
-573 |
Payment of Dividends |
|
-5.25 |
-6.29 |
-5.95 |
-7.90 |
0.00 |
0.00 |
-18 |
-36 |
-36 |
-125 |
-153 |
Other Financing Activities, Net |
|
-47 |
-23 |
-28 |
-30 |
- |
-39 |
-59 |
-99 |
-48 |
-105 |
-109 |
Effect of Exchange Rate Changes |
|
-46 |
-53 |
-33 |
45 |
-21 |
5.64 |
56 |
-42 |
-103 |
27 |
-37 |
Quarterly Cash Flow Statements for Markel Group
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 |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Net Change in Cash & Equivalents |
|
426 |
-217 |
236 |
-196 |
-713 |
-55 |
-61 |
411 |
-434 |
483 |
-380 |
Net Cash From Operating Activities |
|
829 |
284 |
724 |
956 |
823 |
631 |
579 |
891 |
494 |
376 |
504 |
Net Cash From Continuing Operating Activities |
|
829 |
284 |
724 |
956 |
823 |
631 |
579 |
891 |
494 |
376 |
504 |
Net Income / (Loss) Continuing Operations |
|
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
677 |
Consolidated Net Income / (Loss) |
|
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
677 |
Non-Cash Adjustments to Reconcile Net Income |
|
-1,383 |
-254 |
8.51 |
902 |
-2,110 |
-419 |
289 |
-56 |
-1,751 |
247 |
-173 |
Net Cash From Investing Activities |
|
-387 |
-109 |
-265 |
-969 |
-1,361 |
-564 |
-994 |
-326 |
-514 |
193 |
-109 |
Net Cash From Continuing Investing Activities |
|
-387 |
-109 |
-265 |
-969 |
-1,361 |
-564 |
-994 |
-326 |
-514 |
193 |
-109 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-45 |
-37 |
-42 |
-76 |
-104 |
-72 |
-57 |
-52 |
-74 |
-41 |
-51 |
Purchase of Investment Securities |
|
-1,106 |
-727 |
-741 |
-1,301 |
-2,143 |
-1,079 |
-1,452 |
-913 |
-946 |
-831 |
-143 |
Sale and/or Maturity of Investments |
|
672 |
656 |
477 |
407 |
886 |
587 |
515 |
638 |
506 |
1,065 |
84 |
Net Cash From Financing Activities |
|
-104 |
-412 |
-218 |
-169 |
-200 |
-103 |
358 |
-189 |
-364 |
-106 |
-822 |
Net Cash From Continuing Financing Activities |
|
-104 |
-412 |
-218 |
-169 |
-200 |
-103 |
358 |
-189 |
-364 |
-106 |
-822 |
Issuance of Debt |
|
276 |
161 |
195 |
120 |
149 |
272 |
829 |
177 |
156 |
263 |
277 |
Repayment of Debt |
|
-272 |
-369 |
-277 |
-166 |
-138 |
-209 |
-284 |
-223 |
-180 |
-203 |
-307 |
Repurchase of Common Equity |
|
-83 |
-82 |
-105 |
-82 |
-176 |
-161 |
-99 |
-129 |
-184 |
-170 |
-99 |
Other Financing Activities, Net |
|
-7.51 |
-122 |
-12 |
-41 |
71 |
-4.89 |
-69 |
-15 |
-20 |
3.83 |
-75 |
Effect of Exchange Rate Changes |
|
88 |
20 |
-5.61 |
-13 |
26 |
-19 |
-3.17 |
35 |
-50 |
19 |
47 |
Annual Balance Sheets for Markel Group
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 |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
25,200 |
24,939 |
25,875 |
32,805 |
33,306 |
37,474 |
41,710 |
48,477 |
49,791 |
55,046 |
61,898 |
Cash and Due from Banks |
|
1,960 |
2,630 |
1,739 |
2,198 |
2,014 |
3,073 |
4,342 |
3,978 |
4,137 |
3,747 |
3,693 |
Restricted Cash |
|
522 |
440 |
346 |
302 |
382 |
428 |
875 |
902 |
1,084 |
585 |
500 |
Trading Account Securities |
|
14,560 |
13,469 |
14,637 |
15,909 |
15,764 |
17,562 |
17,676 |
21,611 |
19,529 |
23,951 |
27,530 |
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 |
0.00 |
Unearned Premiums Asset |
|
1,501 |
1,436 |
1,583 |
7,413 |
8,245 |
8,696 |
9,371 |
11,506 |
13,474 |
15,056 |
18,179 |
Deferred Acquisition Cost |
|
353 |
353 |
392 |
466 |
475 |
566 |
631 |
794 |
925 |
931 |
876 |
Goodwill |
|
1,049 |
1,168 |
1,142 |
1,777 |
2,238 |
2,309 |
2,605 |
2,899 |
2,639 |
2,625 |
2,736 |
Intangible Assets |
|
703 |
792 |
723 |
1,356 |
1,726 |
1,738 |
1,783 |
1,822 |
1,747 |
1,589 |
1,460 |
Other Assets |
|
4,552 |
4,651 |
5,313 |
3,384 |
2,462 |
3,102 |
4,428 |
4,963 |
6,255 |
6,562 |
6,926 |
Total Liabilities & Shareholders' Equity |
|
25,200 |
24,939 |
25,875 |
32,805 |
33,306 |
37,474 |
41,710 |
48,477 |
49,791 |
55,046 |
61,898 |
Total Liabilities |
|
17,537 |
17,036 |
17,334 |
23,137 |
24,032 |
26,218 |
28,650 |
33,276 |
36,054 |
39,520 |
44,429 |
Long-Term Debt |
|
2,254 |
2,239 |
2,575 |
3,099 |
3,010 |
3,534 |
3,484 |
4,361 |
4,104 |
3,780 |
4,330 |
Claims and Claim Expense |
|
10,404 |
10,252 |
10,116 |
13,584 |
14,276 |
14,729 |
16,222 |
18,179 |
20,948 |
23,483 |
26,633 |
Future Policy Benefits |
|
1,306 |
1,123 |
1,050 |
1,072 |
1,001 |
986 |
1,070 |
903 |
651 |
649 |
583 |
Unearned Premiums Liability |
|
2,246 |
2,166 |
2,264 |
3,309 |
3,611 |
4,058 |
4,433 |
5,384 |
6,221 |
6,642 |
7,064 |
Other Long-Term Liabilities |
|
1,328 |
1,255 |
1,331 |
2,073 |
2,133 |
2,912 |
3,440 |
4,449 |
4,131 |
4,965 |
5,818 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Redeemable Noncontrolling Interest |
|
61 |
63 |
74 |
166 |
174 |
178 |
246 |
461 |
523 |
470 |
540 |
Total Equity & Noncontrolling Interests |
|
7,602 |
7,841 |
8,467 |
9,502 |
9,100 |
11,078 |
12,815 |
14,740 |
13,214 |
15,056 |
16,929 |
Total Preferred & Common Equity |
|
7,595 |
7,834 |
8,461 |
9,504 |
9,081 |
11,071 |
12,800 |
14,717 |
13,151 |
14,984 |
16,916 |
Preferred Stock |
|
- |
- |
- |
- |
- |
0.00 |
592 |
592 |
592 |
592 |
592 |
Total Common Equity |
|
7,595 |
7,834 |
8,461 |
9,504 |
9,081 |
11,071 |
12,208 |
14,125 |
12,559 |
14,392 |
16,324 |
Common Stock |
|
3,308 |
3,342 |
3,369 |
3,382 |
3,393 |
3,405 |
3,428 |
3,441 |
3,494 |
3,517 |
3,561 |
Retained Earnings |
|
2,582 |
3,137 |
3,526 |
3,777 |
5,782 |
7,457 |
8,195 |
10,447 |
9,833 |
11,353 |
13,380 |
Accumulated Other Comprehensive Income / (Loss) |
|
1,705 |
1,355 |
1,566 |
2,346 |
-95 |
209 |
584 |
238 |
-767 |
-478 |
-617 |
Noncontrolling Interest |
|
7.18 |
6.46 |
6.48 |
-2.57 |
20 |
7.55 |
15 |
23 |
63 |
72 |
13 |
Quarterly Balance Sheets for Markel Group
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 |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Q2 2025 |
Total Assets |
|
48,421 |
50,942 |
52,184 |
52,749 |
57,286 |
59,710 |
62,283 |
64,599 |
66,791 |
Cash and Due from Banks |
|
3,541 |
4,032 |
4,306 |
4,355 |
3,627 |
3,511 |
3,873 |
4,194 |
3,720 |
Restricted Cash |
|
1,255 |
973 |
935 |
690 |
650 |
705 |
753 |
481 |
575 |
Trading Account Securities |
|
18,677 |
20,517 |
21,435 |
21,526 |
25,090 |
25,570 |
27,659 |
27,975 |
29,103 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Unearned Premiums Asset |
|
13,501 |
13,940 |
14,477 |
14,800 |
15,968 |
17,657 |
18,069 |
20,234 |
21,905 |
Deferred Acquisition Cost |
|
946 |
994 |
1,013 |
986 |
962 |
1,001 |
968 |
961 |
975 |
Goodwill |
|
2,797 |
2,643 |
2,627 |
2,623 |
2,626 |
2,738 |
2,740 |
2,772 |
2,827 |
Intangible Assets |
|
1,686 |
1,706 |
1,678 |
1,633 |
1,546 |
1,553 |
1,508 |
1,635 |
1,617 |
Other Assets |
|
6,018 |
6,138 |
5,714 |
6,135 |
6,818 |
6,973 |
6,714 |
6,347 |
6,069 |
Total Liabilities & Shareholders' Equity |
|
48,421 |
50,942 |
52,184 |
52,749 |
57,286 |
59,710 |
62,283 |
64,599 |
66,791 |
Total Liabilities |
|
35,550 |
36,661 |
37,481 |
38,226 |
40,969 |
43,285 |
44,620 |
46,855 |
48,923 |
Long-Term Debt |
|
4,131 |
3,897 |
3,814 |
3,769 |
3,855 |
4,400 |
4,356 |
4,391 |
4,364 |
Claims and Claim Expense |
|
20,194 |
21,307 |
21,375 |
22,144 |
24,145 |
24,647 |
25,877 |
27,888 |
28,515 |
Future Policy Benefits |
|
733 |
669 |
644 |
600 |
617 |
595 |
623 |
588 |
612 |
Unearned Premiums Liability |
|
6,515 |
6,570 |
7,072 |
7,197 |
7,154 |
8,244 |
7,887 |
7,692 |
9,073 |
Other Long-Term Liabilities |
|
3,976 |
4,218 |
4,576 |
4,515 |
5,197 |
5,399 |
5,876 |
6,296 |
6,358 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Redeemable Noncontrolling Interest |
|
513 |
492 |
464 |
467 |
500 |
477 |
515 |
580 |
531 |
Total Equity & Noncontrolling Interests |
|
12,359 |
13,789 |
14,239 |
14,055 |
15,818 |
15,949 |
17,147 |
17,165 |
17,337 |
Total Preferred & Common Equity |
|
12,294 |
13,744 |
14,185 |
13,999 |
15,730 |
15,850 |
17,014 |
17,149 |
17,318 |
Preferred Stock |
|
592 |
592 |
592 |
592 |
592 |
592 |
592 |
592 |
0.00 |
Total Common Equity |
|
11,702 |
13,153 |
13,594 |
13,407 |
15,138 |
15,258 |
16,422 |
16,557 |
17,318 |
Common Stock |
|
3,483 |
3,507 |
3,515 |
3,520 |
3,548 |
3,547 |
3,553 |
3,583 |
3,659 |
Retained Earnings |
|
9,256 |
10,255 |
10,819 |
10,779 |
12,185 |
12,330 |
13,063 |
13,365 |
13,840 |
Accumulated Other Comprehensive Income / (Loss) |
|
-1,036 |
-610 |
-741 |
-891 |
-595 |
-618 |
-194 |
-391 |
-181 |
Noncontrolling Interest |
|
65 |
45 |
54 |
56 |
88 |
99 |
133 |
16 |
19 |
Annual Metrics And Ratios for Markel Group
This table displays calculated financial ratios and metrics derived from Markel Group's official financial filings.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
19.18% |
4.69% |
3.55% |
9.03% |
12.78% |
39.89% |
2.17% |
32.49% |
-9.35% |
36.06% |
5.11% |
EBITDA Growth |
|
16.70% |
46.45% |
-12.62% |
-64.67% |
-24.44% |
1,061.43% |
-48.83% |
165.10% |
-93.79% |
1,252.74% |
32.36% |
EBIT Growth |
|
21.74% |
68.52% |
-15.12% |
-86.14% |
-109.00% |
29,200.04% |
-56.23% |
212.84% |
-104.84% |
1,850.86% |
37.08% |
NOPAT Growth |
|
14.04% |
82.01% |
-21.85% |
-12.96% |
-101.37% |
32,826.42% |
-53.78% |
194.06% |
-104.34% |
2,080.36% |
35.52% |
Net Income Growth |
|
14.04% |
82.01% |
-21.85% |
-12.96% |
-132.53% |
1,480.45% |
-53.78% |
194.06% |
-104.23% |
2,132.85% |
35.52% |
EPS Growth |
|
-0.93% |
87.43% |
-25.08% |
-17.46% |
-137.00% |
1,451.52% |
-56.90% |
217.06% |
-113.45% |
719.65% |
35.61% |
Operating Cash Flow Growth |
|
-3.85% |
-9.16% |
-17.90% |
60.59% |
4.00% |
42.70% |
36.38% |
30.88% |
19.15% |
2.86% |
-6.92% |
Free Cash Flow Firm Growth |
|
81.98% |
161.88% |
-241.16% |
-144.12% |
138.19% |
-247.97% |
-30.51% |
37.92% |
382.22% |
-60.64% |
-44.38% |
Invested Capital Growth |
|
10.11% |
2.28% |
9.59% |
14.86% |
-3.78% |
20.40% |
11.86% |
18.25% |
-8.80% |
8.21% |
12.92% |
Revenue Q/Q Growth |
|
1.19% |
1.61% |
0.10% |
4.04% |
-8.53% |
29.92% |
1.63% |
3.25% |
3.19% |
3.54% |
-4.70% |
EBITDA Q/Q Growth |
|
46.87% |
29.87% |
7.13% |
49.81% |
-81.35% |
945.07% |
-6.39% |
9.58% |
-39.52% |
10.63% |
-5.94% |
EBIT Q/Q Growth |
|
15.89% |
12.60% |
-9.92% |
-29.52% |
-100.74% |
2,137.68% |
-19.36% |
4.13% |
-184.61% |
8.16% |
-7.23% |
NOPAT Q/Q Growth |
|
6.33% |
15.72% |
-12.47% |
325.73% |
-100.52% |
236.62% |
67.75% |
1.06% |
-281.97% |
4.09% |
-7.55% |
Net Income Q/Q Growth |
|
6.33% |
15.72% |
-12.47% |
325.73% |
-112.27% |
236.62% |
-41.33% |
63.24% |
-277.28% |
4.09% |
-7.55% |
EPS Q/Q Growth |
|
9.81% |
17.05% |
-13.86% |
473.56% |
-112.79% |
230.86% |
71.33% |
1.61% |
-129.85% |
5.48% |
-8.06% |
Operating Cash Flow Q/Q Growth |
|
-3.10% |
-10.87% |
25.76% |
6.13% |
-12.72% |
51.39% |
-4.72% |
8.37% |
7.01% |
-0.24% |
-11.24% |
Free Cash Flow Firm Q/Q Growth |
|
-37.78% |
1,156.05% |
23.95% |
-414.37% |
241.22% |
42.57% |
-103.26% |
-21.01% |
1.27% |
-12.82% |
154.69% |
Invested Capital Q/Q Growth |
|
4.23% |
1.48% |
-0.70% |
10.71% |
-5.01% |
0.63% |
5.73% |
5.51% |
4.93% |
5.54% |
-1.00% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
12.84% |
17.96% |
15.15% |
4.91% |
3.29% |
27.31% |
13.68% |
27.37% |
1.88% |
18.65% |
23.49% |
EBIT Margin |
|
8.78% |
14.13% |
11.58% |
1.47% |
-0.12% |
24.44% |
10.47% |
24.72% |
-1.32% |
16.99% |
22.16% |
Profit (Net Income) Margin |
|
6.45% |
11.22% |
8.47% |
6.76% |
-1.95% |
19.24% |
8.70% |
19.32% |
-0.90% |
13.45% |
17.34% |
Tax Burden Percent |
|
73.50% |
79.39% |
73.10% |
459.08% |
1,659.49% |
78.72% |
83.14% |
78.15% |
68.19% |
79.18% |
78.27% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
26.50% |
20.61% |
26.90% |
-359.08% |
0.00% |
21.28% |
16.86% |
21.85% |
0.00% |
20.82% |
21.73% |
Return on Invested Capital (ROIC) |
|
3.42% |
5.87% |
4.33% |
3.36% |
-0.04% |
13.29% |
5.31% |
13.55% |
-0.57% |
11.31% |
13.85% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
3.42% |
5.87% |
4.33% |
3.36% |
-4.13% |
13.29% |
5.31% |
13.55% |
-0.50% |
11.31% |
13.85% |
Return on Net Nonoperating Assets (RNNOA) |
|
1.07% |
1.70% |
1.27% |
1.05% |
-1.33% |
4.24% |
1.53% |
3.76% |
-0.15% |
3.05% |
3.41% |
Return on Equity (ROE) |
|
4.49% |
7.57% |
5.60% |
4.40% |
-1.38% |
17.53% |
6.84% |
17.31% |
-0.71% |
14.36% |
17.26% |
Cash Return on Invested Capital (CROIC) |
|
-6.20% |
3.62% |
-4.82% |
-10.47% |
3.81% |
-5.22% |
-5.89% |
-3.17% |
8.64% |
3.42% |
1.72% |
Operating Return on Assets (OROA) |
|
1.79% |
2.96% |
2.48% |
0.30% |
-0.02% |
6.46% |
2.53% |
6.94% |
-0.31% |
5.06% |
6.22% |
Return on Assets (ROA) |
|
1.32% |
2.35% |
1.81% |
1.37% |
-0.39% |
5.08% |
2.10% |
5.42% |
-0.21% |
4.01% |
4.87% |
Return on Common Equity (ROCE) |
|
4.45% |
7.50% |
5.55% |
4.34% |
-1.35% |
17.21% |
6.55% |
16.13% |
-0.66% |
13.23% |
16.07% |
Return on Equity Simple (ROE_SIMPLE) |
|
4.26% |
7.52% |
5.44% |
4.22% |
-1.44% |
16.25% |
6.50% |
16.62% |
-0.79% |
14.02% |
16.83% |
Net Operating Profit after Tax (NOPAT) |
|
324 |
589 |
460 |
401 |
-5.50 |
1,799 |
832 |
2,446 |
-106 |
2,101 |
2,847 |
NOPAT Margin |
|
6.45% |
11.22% |
8.47% |
6.76% |
-0.08% |
19.24% |
8.70% |
19.32% |
-0.92% |
13.45% |
17.34% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
4.09% |
0.00% |
0.00% |
0.00% |
-0.06% |
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 |
|
91.22% |
85.87% |
88.42% |
98.53% |
100.12% |
75.56% |
89.53% |
75.28% |
101.32% |
83.01% |
77.84% |
Earnings before Interest and Taxes (EBIT) |
|
440 |
742 |
630 |
87 |
-7.86 |
2,286 |
1,000 |
3,130 |
-152 |
2,654 |
3,638 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
644 |
943 |
824 |
291 |
220 |
2,555 |
1,308 |
3,466 |
215 |
2,914 |
3,857 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.26 |
1.57 |
1.50 |
1.67 |
1.59 |
1.43 |
1.17 |
1.19 |
1.41 |
1.30 |
1.36 |
Price to Tangible Book Value (P/TBV) |
|
1.63 |
2.10 |
1.92 |
2.48 |
2.82 |
2.25 |
1.82 |
1.79 |
2.17 |
1.84 |
1.83 |
Price to Revenue (P/Rev) |
|
1.90 |
2.35 |
2.33 |
2.67 |
2.16 |
1.69 |
1.49 |
1.33 |
1.54 |
1.20 |
1.35 |
Price to Earnings (P/E) |
|
29.68 |
21.15 |
27.77 |
40.04 |
0.00 |
8.82 |
17.85 |
7.07 |
0.00 |
9.58 |
8.19 |
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 |
|
3.37% |
4.73% |
3.60% |
2.50% |
0.00% |
11.34% |
5.60% |
14.15% |
0.00% |
10.44% |
12.21% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.95 |
1.14 |
1.19 |
1.30 |
1.24 |
1.08 |
0.81 |
0.89 |
1.00 |
1.00 |
1.08 |
Enterprise Value to Revenue (EV/Rev) |
|
1.87 |
2.20 |
2.43 |
2.80 |
2.28 |
1.71 |
1.40 |
1.38 |
1.55 |
1.24 |
1.43 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
14.55 |
12.26 |
16.05 |
56.97 |
69.18 |
6.27 |
10.22 |
5.03 |
82.55 |
6.64 |
6.09 |
Enterprise Value to EBIT (EV/EBIT) |
|
21.28 |
15.58 |
20.99 |
190.01 |
0.00 |
7.00 |
13.35 |
5.57 |
0.00 |
7.29 |
6.46 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
28.95 |
19.62 |
28.72 |
41.39 |
0.00 |
8.90 |
16.06 |
7.12 |
0.00 |
9.21 |
8.25 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
13.07 |
17.76 |
24.74 |
19.32 |
17.05 |
12.56 |
7.69 |
7.66 |
6.56 |
6.94 |
9.05 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
31.85 |
0.00 |
0.00 |
31.86 |
0.00 |
0.00 |
0.00 |
11.00 |
30.42 |
66.39 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.29 |
0.28 |
0.30 |
0.32 |
0.32 |
0.31 |
0.27 |
0.29 |
0.30 |
0.24 |
0.25 |
Long-Term Debt to Equity |
|
0.29 |
0.28 |
0.30 |
0.32 |
0.32 |
0.31 |
0.27 |
0.29 |
0.30 |
0.24 |
0.25 |
Financial Leverage |
|
0.31 |
0.29 |
0.29 |
0.31 |
0.32 |
0.32 |
0.29 |
0.28 |
0.29 |
0.27 |
0.25 |
Leverage Ratio |
|
3.41 |
3.22 |
3.09 |
3.22 |
3.49 |
3.45 |
3.26 |
3.19 |
3.40 |
3.58 |
3.54 |
Compound Leverage Factor |
|
3.41 |
3.22 |
3.09 |
3.22 |
3.49 |
3.45 |
3.26 |
3.19 |
3.40 |
3.58 |
3.54 |
Debt to Total Capital |
|
22.73% |
22.08% |
23.16% |
24.28% |
24.50% |
23.90% |
21.06% |
22.29% |
23.00% |
19.58% |
19.86% |
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 |
|
22.73% |
22.08% |
23.16% |
24.28% |
24.50% |
23.90% |
21.06% |
22.29% |
23.00% |
19.58% |
19.86% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
3.58% |
3.03% |
3.32% |
3.07% |
2.72% |
Noncontrolling Interests to Total Capital |
|
0.69% |
0.68% |
0.72% |
1.28% |
1.58% |
1.25% |
1.57% |
2.48% |
3.28% |
2.81% |
2.54% |
Common Equity to Total Capital |
|
76.59% |
77.24% |
76.12% |
74.44% |
73.92% |
74.85% |
73.79% |
72.21% |
70.40% |
74.55% |
74.88% |
Debt to EBITDA |
|
3.50 |
2.37 |
3.12 |
10.64 |
13.68 |
1.38 |
2.66 |
1.26 |
19.05 |
1.30 |
1.12 |
Net Debt to EBITDA |
|
-0.36 |
-0.88 |
0.59 |
2.06 |
2.79 |
0.01 |
-1.33 |
-0.15 |
-5.19 |
-0.19 |
0.04 |
Long-Term Debt to EBITDA |
|
3.50 |
2.37 |
3.12 |
10.64 |
13.68 |
1.38 |
2.66 |
1.26 |
19.05 |
1.30 |
1.12 |
Debt to NOPAT |
|
6.96 |
3.80 |
5.59 |
7.73 |
-547.35 |
1.96 |
4.19 |
1.78 |
-38.68 |
1.80 |
1.52 |
Net Debt to NOPAT |
|
-0.71 |
-1.41 |
1.06 |
1.49 |
-111.51 |
0.02 |
-2.08 |
-0.21 |
10.54 |
-0.26 |
0.05 |
Long-Term Debt to NOPAT |
|
6.96 |
3.80 |
5.59 |
7.73 |
-547.35 |
1.96 |
4.19 |
1.78 |
-38.68 |
1.80 |
1.52 |
Noncontrolling Interest Sharing Ratio |
|
1.01% |
0.88% |
0.91% |
1.34% |
1.89% |
1.85% |
4.27% |
6.82% |
7.79% |
7.90% |
6.91% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-587 |
363 |
-512 |
-1,251 |
478 |
-707 |
-922 |
-573 |
1,616 |
636 |
354 |
Operating Cash Flow to CapEx |
|
872.73% |
816.44% |
839.63% |
1,150.04% |
837.63% |
1,032.71% |
1,715.27% |
1,565.63% |
1,063.73% |
1,077.57% |
1,017.29% |
Free Cash Flow to Firm to Interest Expense |
|
-4.99 |
3.07 |
-3.94 |
-9.44 |
3.10 |
-4.12 |
-5.19 |
-3.12 |
8.24 |
3.44 |
1.73 |
Operating Cash Flow to Interest Expense |
|
6.10 |
5.50 |
4.12 |
6.48 |
5.79 |
7.42 |
9.78 |
12.39 |
13.82 |
15.06 |
12.70 |
Operating Cash Flow Less CapEx to Interest Expense |
|
5.40 |
4.83 |
3.63 |
5.92 |
5.10 |
6.70 |
9.21 |
11.60 |
12.52 |
13.66 |
11.45 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.20 |
0.21 |
0.21 |
0.20 |
0.20 |
0.26 |
0.24 |
0.28 |
0.23 |
0.30 |
0.28 |
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 |
|
9,917 |
10,143 |
11,116 |
12,767 |
12,284 |
14,790 |
16,544 |
19,563 |
17,841 |
19,306 |
21,799 |
Invested Capital Turnover |
|
0.53 |
0.52 |
0.51 |
0.50 |
0.53 |
0.69 |
0.61 |
0.70 |
0.61 |
0.84 |
0.80 |
Increase / (Decrease) in Invested Capital |
|
910 |
226 |
973 |
1,651 |
-483 |
2,506 |
1,754 |
3,019 |
-1,722 |
1,465 |
2,494 |
Enterprise Value (EV) |
|
9,372 |
11,562 |
13,225 |
16,587 |
15,220 |
16,009 |
13,357 |
17,423 |
17,781 |
19,351 |
23,486 |
Market Capitalization |
|
9,532 |
12,323 |
12,655 |
15,825 |
14,413 |
15,790 |
14,237 |
16,867 |
17,721 |
18,769 |
22,203 |
Book Value per Share |
|
$544.06 |
$561.58 |
$604.72 |
$684.15 |
$654.01 |
$801.51 |
$886.04 |
$1,033.45 |
$933.74 |
$1,088.78 |
$1,269.14 |
Tangible Book Value per Share |
|
$418.57 |
$421.06 |
$471.44 |
$458.61 |
$368.50 |
$508.51 |
$567.61 |
$688.01 |
$607.63 |
$770.03 |
$942.95 |
Total Capital |
|
9,917 |
10,143 |
11,116 |
12,767 |
12,284 |
14,790 |
16,544 |
19,563 |
17,841 |
19,306 |
21,799 |
Total Debt |
|
2,254 |
2,239 |
2,575 |
3,099 |
3,010 |
3,534 |
3,484 |
4,361 |
4,104 |
3,780 |
4,330 |
Total Long-Term Debt |
|
2,254 |
2,239 |
2,575 |
3,099 |
3,010 |
3,534 |
3,484 |
4,361 |
4,104 |
3,780 |
4,330 |
Net Debt |
|
-229 |
-831 |
489 |
598 |
613 |
34 |
-1,733 |
-520 |
-1,118 |
-552 |
138 |
Capital Expenditures (CapEx) |
|
82 |
80 |
64 |
75 |
107 |
123 |
101 |
145 |
255 |
259 |
255 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
125 |
0.00 |
0.00 |
0.00 |
-2.74 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
2,254 |
2,239 |
2,575 |
3,099 |
3,010 |
3,534 |
3,484 |
4,361 |
4,104 |
3,780 |
4,330 |
Total Depreciation and Amortization (D&A) |
|
204 |
201 |
194 |
204 |
228 |
269 |
307 |
336 |
367 |
260 |
219 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$22.38 |
$41.99 |
$31.41 |
$25.89 |
($9.55) |
$129.25 |
$55.67 |
$176.92 |
($23.57) |
$147.32 |
$199.69 |
Adjusted Weighted Average Basic Shares Outstanding |
|
13.96M |
13.96M |
13.96M |
13.90M |
13.87M |
13.78M |
13.78M |
13.61M |
13.41M |
13.11M |
12.77M |
Adjusted Diluted Earnings per Share |
|
$22.27 |
$41.74 |
$31.27 |
$25.81 |
($9.55) |
$129.07 |
$55.63 |
$176.51 |
($23.57) |
$146.98 |
$199.32 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
13.96M |
13.96M |
13.96M |
13.90M |
13.87M |
13.78M |
13.78M |
13.61M |
13.41M |
13.11M |
12.77M |
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 |
|
13.96M |
13.96M |
13.96M |
13.90M |
13.87M |
13.78M |
13.78M |
13.61M |
13.41M |
13.11M |
12.77M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
1,397 |
1,744 |
1,569 |
1,172 |
1,304 |
3,294 |
911 |
4,182 |
1,614 |
4,422 |
5,077 |
Normalized NOPAT Margin |
|
27.86% |
33.21% |
28.86% |
19.76% |
19.49% |
35.21% |
9.54% |
33.03% |
14.06% |
28.31% |
30.92% |
Pre Tax Income Margin |
|
8.78% |
14.13% |
11.58% |
1.47% |
-0.12% |
24.44% |
10.47% |
24.72% |
-1.32% |
16.99% |
22.16% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
3.75 |
6.27 |
4.85 |
0.66 |
-0.05 |
13.31 |
5.63 |
17.05 |
-0.77 |
14.34 |
17.81 |
NOPAT to Interest Expense |
|
2.76 |
4.98 |
3.54 |
3.03 |
-0.04 |
10.48 |
4.68 |
13.32 |
-0.54 |
11.35 |
13.94 |
EBIT Less CapEx to Interest Expense |
|
3.05 |
5.60 |
4.36 |
0.10 |
-0.74 |
12.60 |
5.06 |
16.26 |
-2.07 |
12.94 |
16.56 |
NOPAT Less CapEx to Interest Expense |
|
2.06 |
4.31 |
3.05 |
2.46 |
-0.73 |
9.76 |
4.11 |
12.53 |
-1.84 |
9.96 |
12.69 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
1.62% |
1.07% |
1.29% |
1.97% |
0.00% |
0.00% |
2.21% |
1.47% |
-34.83% |
5.95% |
5.38% |
Augmented Payout Ratio |
|
9.67% |
6.41% |
12.40% |
29.63% |
-41.43% |
6.46% |
5.44% |
9.92% |
-316.18% |
27.15% |
25.50% |
Quarterly Metrics And Ratios for Markel Group
This table displays calculated financial ratios and metrics derived from Markel Group's official financial filings.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
9.55% |
40.58% |
128.51% |
8.63% |
13.15% |
23.02% |
-10.89% |
36.85% |
-17.62% |
-24.30% |
24.67% |
EBITDA Growth |
|
-27.89% |
3,525.66% |
192.80% |
-48.63% |
23.60% |
93.60% |
-56.91% |
988.95% |
-26.74% |
-85.23% |
122.64% |
EBIT Growth |
|
-29.08% |
1,103.06% |
184.71% |
-62.62% |
24.83% |
99.80% |
-59.68% |
1,687.11% |
-28.14% |
-88.24% |
135.56% |
NOPAT Growth |
|
-18.51% |
1,247.58% |
191.17% |
-54.38% |
11.60% |
95.09% |
-59.51% |
1,677.69% |
-29.30% |
-87.67% |
133.63% |
Net Income Growth |
|
-18.51% |
1,201.78% |
181.10% |
-54.38% |
11.60% |
95.09% |
-59.51% |
1,677.69% |
-29.30% |
-87.67% |
133.63% |
EPS Growth |
|
-21.53% |
673.23% |
172.44% |
1.95% |
15.64% |
102.44% |
-62.83% |
2,009.87% |
-30.93% |
-83.99% |
166.76% |
Operating Cash Flow Growth |
|
27.25% |
-31.50% |
43.14% |
-0.38% |
-0.80% |
121.92% |
-20.13% |
-6.79% |
-39.95% |
-40.35% |
-12.83% |
Free Cash Flow Firm Growth |
|
213.44% |
166.20% |
77.65% |
-174.70% |
-127.57% |
-168.76% |
-5,418.31% |
-124.98% |
-187.99% |
-93.76% |
63.81% |
Invested Capital Growth |
|
-8.80% |
-4.41% |
4.24% |
7.58% |
8.21% |
10.98% |
12.46% |
20.38% |
12.92% |
9.73% |
6.76% |
Revenue Q/Q Growth |
|
32.56% |
-11.57% |
13.95% |
-18.67% |
38.07% |
-2.92% |
-17.46% |
24.90% |
-16.89% |
-11.65% |
35.93% |
EBITDA Q/Q Growth |
|
279.65% |
-15.81% |
33.01% |
-87.92% |
813.58% |
37.71% |
-70.40% |
205.32% |
-38.54% |
-73.42% |
346.31% |
EBIT Q/Q Growth |
|
346.68% |
-16.74% |
35.19% |
-92.56% |
1,391.50% |
39.44% |
-72.71% |
229.52% |
-40.02% |
-78.20% |
446.66% |
NOPAT Q/Q Growth |
|
509.42% |
-24.42% |
33.12% |
-92.56% |
1,390.75% |
32.12% |
-72.37% |
226.70% |
-40.71% |
-76.96% |
423.54% |
Net Income Q/Q Growth |
|
509.42% |
-24.42% |
33.12% |
-92.56% |
1,390.75% |
32.12% |
-72.37% |
226.70% |
-40.71% |
-76.96% |
423.54% |
EPS Q/Q Growth |
|
1,486.04% |
-23.73% |
34.43% |
-93.73% |
1,699.04% |
33.53% |
-75.31% |
255.80% |
-41.10% |
-69.04% |
311.18% |
Operating Cash Flow Q/Q Growth |
|
-13.56% |
-65.73% |
154.92% |
31.92% |
-13.93% |
-23.33% |
-8.25% |
53.95% |
-44.55% |
-23.84% |
34.08% |
Free Cash Flow Firm Q/Q Growth |
|
47.12% |
-43.48% |
-102.66% |
-3,279.60% |
45.70% |
-40.98% |
-113.32% |
-37.79% |
30.50% |
5.15% |
60.16% |
Invested Capital Q/Q Growth |
|
4.93% |
1.89% |
1.87% |
-1.22% |
5.54% |
4.49% |
3.23% |
5.73% |
-1.00% |
1.54% |
0.44% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
20.92% |
19.92% |
23.25% |
3.45% |
22.86% |
31.35% |
11.24% |
27.49% |
20.33% |
6.12% |
20.08% |
EBIT Margin |
|
19.84% |
18.69% |
22.17% |
2.03% |
21.89% |
30.35% |
10.03% |
26.47% |
19.10% |
4.71% |
18.95% |
Profit (Net Income) Margin |
|
17.51% |
14.96% |
17.48% |
1.60% |
17.27% |
23.73% |
7.94% |
20.78% |
14.82% |
3.86% |
14.88% |
Tax Burden Percent |
|
78.71% |
80.09% |
78.86% |
78.91% |
78.87% |
78.20% |
79.17% |
78.50% |
77.60% |
81.99% |
78.53% |
Interest Burden Percent |
|
112.08% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
21.29% |
19.91% |
21.14% |
21.09% |
21.13% |
21.80% |
20.83% |
21.50% |
22.40% |
18.01% |
21.47% |
Return on Invested Capital (ROIC) |
|
10.75% |
10.07% |
14.28% |
1.37% |
14.52% |
20.35% |
6.46% |
17.76% |
11.84% |
2.80% |
11.23% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
10.75% |
10.07% |
14.28% |
1.37% |
14.52% |
20.35% |
6.46% |
17.76% |
11.84% |
2.80% |
11.23% |
Return on Net Nonoperating Assets (RNNOA) |
|
3.14% |
2.90% |
4.25% |
0.39% |
3.91% |
5.16% |
1.70% |
4.48% |
2.91% |
0.68% |
2.87% |
Return on Equity (ROE) |
|
13.89% |
12.98% |
18.53% |
1.76% |
18.43% |
25.51% |
8.16% |
22.24% |
14.75% |
3.48% |
14.10% |
Cash Return on Invested Capital (CROIC) |
|
8.64% |
7.10% |
7.33% |
4.13% |
3.42% |
3.22% |
-0.62% |
-3.21% |
1.72% |
-0.16% |
4.22% |
Operating Return on Assets (OROA) |
|
4.64% |
4.68% |
6.56% |
0.60% |
6.52% |
9.22% |
2.87% |
7.93% |
5.36% |
1.19% |
4.87% |
Return on Assets (ROA) |
|
4.09% |
3.75% |
5.17% |
0.48% |
5.15% |
7.21% |
2.27% |
6.22% |
4.16% |
0.97% |
3.82% |
Return on Common Equity (ROCE) |
|
12.81% |
11.98% |
17.06% |
1.61% |
16.98% |
23.59% |
7.57% |
20.61% |
13.73% |
3.24% |
13.39% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
3.52% |
14.68% |
14.42% |
0.00% |
16.61% |
13.79% |
18.10% |
0.00% |
11.24% |
13.37% |
Net Operating Profit after Tax (NOPAT) |
|
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
677 |
NOPAT Margin |
|
17.51% |
14.96% |
17.48% |
1.60% |
17.27% |
23.73% |
7.94% |
20.78% |
14.82% |
3.86% |
14.88% |
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 |
|
80.16% |
81.32% |
77.83% |
97.97% |
78.11% |
69.65% |
89.97% |
73.53% |
80.90% |
95.29% |
81.05% |
Earnings before Interest and Taxes (EBIT) |
|
807 |
672 |
908 |
68 |
1,007 |
1,342 |
366 |
1,206 |
724 |
158 |
862 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
850 |
716 |
952 |
115 |
1,051 |
1,386 |
410 |
1,253 |
770 |
205 |
914 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.41 |
1.30 |
1.36 |
1.46 |
1.30 |
1.33 |
1.34 |
1.24 |
1.36 |
1.44 |
1.46 |
Price to Tangible Book Value (P/TBV) |
|
2.17 |
1.95 |
1.99 |
2.13 |
1.84 |
1.83 |
1.87 |
1.67 |
1.83 |
1.97 |
1.97 |
Price to Revenue (P/Rev) |
|
1.54 |
1.37 |
1.25 |
1.29 |
1.20 |
1.22 |
1.28 |
1.18 |
1.35 |
1.56 |
1.56 |
Price to Earnings (P/E) |
|
0.00 |
59.45 |
9.72 |
10.38 |
9.58 |
8.06 |
9.90 |
6.93 |
8.19 |
13.21 |
11.57 |
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 |
|
0.00% |
1.68% |
10.29% |
9.64% |
10.44% |
12.41% |
10.10% |
14.44% |
12.21% |
7.57% |
8.64% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.00 |
0.94 |
0.98 |
1.06 |
1.00 |
1.03 |
1.05 |
0.97 |
1.08 |
1.12 |
1.17 |
Enterprise Value to Revenue (EV/Rev) |
|
1.55 |
1.37 |
1.22 |
1.28 |
1.24 |
1.27 |
1.36 |
1.24 |
1.43 |
1.62 |
1.60 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
82.55 |
22.44 |
6.62 |
7.36 |
6.64 |
5.96 |
7.37 |
5.19 |
6.09 |
9.39 |
8.26 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
29.22 |
7.07 |
7.90 |
7.29 |
6.28 |
7.85 |
5.43 |
6.46 |
10.10 |
8.80 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
35.49 |
8.71 |
9.60 |
9.21 |
7.99 |
9.99 |
6.91 |
8.25 |
12.85 |
11.21 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
6.56 |
6.65 |
6.49 |
6.93 |
6.94 |
6.66 |
7.31 |
7.28 |
9.05 |
10.59 |
11.46 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
11.00 |
12.98 |
13.65 |
26.55 |
30.42 |
33.80 |
0.00 |
0.00 |
66.39 |
0.00 |
28.60 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.30 |
0.27 |
0.26 |
0.26 |
0.24 |
0.24 |
0.27 |
0.25 |
0.25 |
0.25 |
0.24 |
Long-Term Debt to Equity |
|
0.30 |
0.27 |
0.26 |
0.26 |
0.24 |
0.24 |
0.27 |
0.25 |
0.25 |
0.25 |
0.24 |
Financial Leverage |
|
0.29 |
0.29 |
0.30 |
0.29 |
0.27 |
0.25 |
0.26 |
0.25 |
0.25 |
0.24 |
0.26 |
Leverage Ratio |
|
3.40 |
3.46 |
3.58 |
3.69 |
3.58 |
3.54 |
3.59 |
3.57 |
3.54 |
3.58 |
3.69 |
Compound Leverage Factor |
|
3.81 |
3.46 |
3.58 |
3.69 |
3.58 |
3.54 |
3.59 |
3.57 |
3.54 |
3.58 |
3.69 |
Debt to Total Capital |
|
23.00% |
21.44% |
20.60% |
20.61% |
19.58% |
19.11% |
21.13% |
19.78% |
19.86% |
19.84% |
19.63% |
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 |
|
23.00% |
21.44% |
20.60% |
20.61% |
19.58% |
19.11% |
21.13% |
19.78% |
19.86% |
19.84% |
19.63% |
Preferred Equity to Total Capital |
|
3.32% |
3.26% |
3.20% |
3.24% |
3.07% |
2.93% |
2.84% |
2.69% |
2.72% |
2.67% |
0.00% |
Noncontrolling Interests to Total Capital |
|
3.28% |
2.95% |
2.80% |
2.86% |
2.81% |
2.91% |
2.76% |
2.95% |
2.54% |
2.69% |
2.47% |
Common Equity to Total Capital |
|
70.40% |
72.35% |
73.41% |
73.30% |
74.55% |
75.04% |
73.27% |
74.58% |
74.88% |
74.80% |
77.90% |
Debt to EBITDA |
|
19.05 |
5.10 |
1.39 |
1.43 |
1.30 |
1.10 |
1.49 |
1.06 |
1.12 |
1.66 |
1.39 |
Net Debt to EBITDA |
|
-5.19 |
-1.45 |
-0.52 |
-0.48 |
-0.19 |
-0.12 |
0.06 |
-0.07 |
0.04 |
-0.11 |
0.02 |
Long-Term Debt to EBITDA |
|
19.05 |
5.10 |
1.39 |
1.43 |
1.30 |
1.10 |
1.49 |
1.06 |
1.12 |
1.66 |
1.39 |
Debt to NOPAT |
|
-38.68 |
8.06 |
1.83 |
1.87 |
1.80 |
1.48 |
2.01 |
1.41 |
1.52 |
2.28 |
1.89 |
Net Debt to NOPAT |
|
10.54 |
-2.29 |
-0.69 |
-0.63 |
-0.26 |
-0.16 |
0.08 |
-0.09 |
0.05 |
-0.15 |
0.03 |
Long-Term Debt to NOPAT |
|
-38.68 |
8.06 |
1.83 |
1.87 |
1.80 |
1.48 |
2.01 |
1.41 |
1.52 |
2.28 |
1.89 |
Noncontrolling Interest Sharing Ratio |
|
7.79% |
7.64% |
7.90% |
8.34% |
7.90% |
7.54% |
7.31% |
7.32% |
6.91% |
6.95% |
5.01% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
2,434 |
1,376 |
-37 |
-1,236 |
-671 |
-946 |
-2,018 |
-2,780 |
-1,932 |
-1,833 |
-730 |
Operating Cash Flow to CapEx |
|
1,825.16% |
764.36% |
1,714.08% |
1,263.34% |
794.48% |
876.48% |
1,011.67% |
1,716.61% |
667.94% |
924.01% |
996.04% |
Free Cash Flow to Firm to Interest Expense |
|
49.70 |
27.82 |
-0.77 |
-27.74 |
-15.30 |
-20.77 |
-38.36 |
-52.10 |
-36.60 |
-35.15 |
-13.76 |
Operating Cash Flow to Interest Expense |
|
16.93 |
5.75 |
15.34 |
21.45 |
18.75 |
13.85 |
11.00 |
16.69 |
9.36 |
7.22 |
9.50 |
Operating Cash Flow Less CapEx to Interest Expense |
|
16.00 |
5.00 |
14.45 |
19.75 |
16.39 |
12.27 |
9.91 |
15.72 |
7.96 |
6.43 |
8.55 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.23 |
0.25 |
0.30 |
0.30 |
0.30 |
0.30 |
0.29 |
0.30 |
0.28 |
0.25 |
0.26 |
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 |
|
17,841 |
18,178 |
18,517 |
18,292 |
19,306 |
20,173 |
20,825 |
22,019 |
21,799 |
22,135 |
22,232 |
Invested Capital Turnover |
|
0.61 |
0.67 |
0.82 |
0.85 |
0.84 |
0.86 |
0.81 |
0.85 |
0.80 |
0.73 |
0.75 |
Increase / (Decrease) in Invested Capital |
|
-1,722 |
-838 |
752 |
1,289 |
1,465 |
1,995 |
2,308 |
3,727 |
2,494 |
1,962 |
1,407 |
Enterprise Value (EV) |
|
17,781 |
17,149 |
18,144 |
19,372 |
19,351 |
20,870 |
21,839 |
21,276 |
23,486 |
24,778 |
25,955 |
Market Capitalization |
|
17,721 |
17,128 |
18,461 |
19,532 |
18,769 |
20,112 |
20,488 |
20,306 |
22,203 |
23,875 |
25,336 |
Book Value per Share |
|
$933.74 |
$980.91 |
$1,018.50 |
$1,010.76 |
$1,088.78 |
$1,164.21 |
$1,173.46 |
$1,268.59 |
$1,269.14 |
$1,296.52 |
$1,365.28 |
Tangible Book Value per Share |
|
$607.63 |
$656.56 |
$696.01 |
$689.86 |
$770.03 |
$843.36 |
$843.45 |
$940.49 |
$942.95 |
$951.39 |
$1,014.96 |
Total Capital |
|
17,841 |
18,178 |
18,517 |
18,292 |
19,306 |
20,173 |
20,825 |
22,019 |
21,799 |
22,135 |
22,232 |
Total Debt |
|
4,104 |
3,897 |
3,814 |
3,769 |
3,780 |
3,855 |
4,400 |
4,356 |
4,330 |
4,391 |
4,364 |
Total Long-Term Debt |
|
4,104 |
3,897 |
3,814 |
3,769 |
3,780 |
3,855 |
4,400 |
4,356 |
4,330 |
4,391 |
4,364 |
Net Debt |
|
-1,118 |
-1,108 |
-1,427 |
-1,276 |
-552 |
-421 |
184 |
-270 |
138 |
-284 |
69 |
Capital Expenditures (CapEx) |
|
45 |
37 |
42 |
76 |
104 |
72 |
57 |
52 |
74 |
41 |
51 |
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) |
|
4,104 |
3,897 |
3,814 |
3,769 |
3,780 |
3,855 |
4,400 |
4,356 |
4,330 |
4,391 |
4,364 |
Total Depreciation and Amortization (D&A) |
|
44 |
44 |
44 |
48 |
44 |
44 |
44 |
46 |
46 |
47 |
51 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$48.84 |
$37.33 |
$50.20 |
$3.15 |
$56.64 |
$75.56 |
$18.66 |
$66.40 |
$39.07 |
$12.11 |
$49.80 |
Adjusted Weighted Average Basic Shares Outstanding |
|
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
12.65M |
Adjusted Diluted Earnings per Share |
|
$48.85 |
$37.26 |
$50.09 |
$3.14 |
$56.49 |
$75.43 |
$18.62 |
$66.25 |
$39.02 |
$12.08 |
$49.67 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
12.65M |
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 |
|
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
12.65M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
1,323 |
1,105 |
1,278 |
573 |
1,465 |
1,587 |
845 |
1,618 |
1,030 |
802 |
1,436 |
Normalized NOPAT Margin |
|
32.54% |
30.75% |
31.21% |
17.21% |
31.85% |
35.89% |
23.16% |
35.50% |
27.19% |
23.95% |
31.56% |
Pre Tax Income Margin |
|
22.24% |
18.69% |
22.17% |
2.03% |
21.89% |
30.35% |
10.03% |
26.47% |
19.10% |
4.71% |
18.95% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
16.47 |
13.58 |
19.23 |
1.52 |
22.95 |
29.46 |
6.96 |
22.61 |
13.70 |
3.03 |
16.25 |
NOPAT to Interest Expense |
|
14.53 |
10.88 |
15.16 |
1.20 |
18.10 |
23.03 |
5.51 |
17.75 |
10.63 |
2.48 |
12.76 |
EBIT Less CapEx to Interest Expense |
|
15.54 |
12.83 |
18.33 |
-0.18 |
20.59 |
27.88 |
5.87 |
21.63 |
12.30 |
2.24 |
15.29 |
NOPAT Less CapEx to Interest Expense |
|
13.60 |
10.13 |
14.27 |
-0.50 |
15.74 |
21.45 |
4.42 |
16.77 |
9.23 |
1.70 |
11.80 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
-34.83% |
0.00% |
1.73% |
1.78% |
5.95% |
0.00% |
5.72% |
4.06% |
5.38% |
0.00% |
6.62% |
Augmented Payout Ratio |
|
-316.18% |
60.73% |
18.62% |
19.24% |
27.15% |
20.07% |
29.43% |
22.40% |
25.50% |
30.20% |
31.77% |
Key Financial Trends
Markel Group (NYSE: MKL) has demonstrated solid financial performance over the past several years through the Q2 2025 period. Here is a summary of key trends and observations across the latest quarterly financial statements, along with a look at the historical context from the last four years.
- Consistent Net Income Growth: The company reported a consolidated net income of $677 million in Q2 2025, a significant increase from $290 million in Q2 2024 and $715 million in Q2 2023, showing resilience and strong profitability growth year-over-year and quarter-over-quarter.
- Strong Operating Cash Flow: Net cash from continuing operating activities was $504 million in Q2 2025, which, while slightly lower than $578 million in Q2 2024, continues to indicate a robust ability to generate cash from core operations, supporting sustainability.
- Premiums Earned Increasing: Premiums earned rose to $2.14 billion in Q2 2025 compared to $2.08 billion in Q2 2024 and $2.03 billion in Q2 2023, which supports revenue growth and expansion of the insurance business.
- Capital Gains on Investments Boost Non-Interest Income: Net realized and unrealized capital gains on investments was $810 million in Q2 2025, up substantially from Q1 2025 ($88 million) and prior quarters, reflecting strong investment performance that enhances overall income.
- Equity Base Expansion: Total common equity increased to $17.3 billion by Q2 2025 from $15.2 billion in Q2 2024, indicating balance sheet strengthening and retained earnings growth, benefiting shareholder valuation.
- Increased Restructuring Charges: Restructuring charges remain elevated at $774 million in Q2 2025, slightly higher than previous quarters, suggesting ongoing costs related to business changes that may impact near-term earnings but potentially lead to long-term efficiencies.
- Debt and Financing Activity: Long-term debt showed some fluctuations, with $4.36 billion on the balance sheet in Q2 2025, similar to prior periods. Net cash from financing activities was negative $822 million in Q2 2025, reflecting repayments and equity repurchases.
- Negative Net Cash Flow from Investing Activities: Q2 2025 investing activities resulted in negative cash flow of $109 million, primarily due to purchases of investments exceeding sales, which may pressure liquidity.
- High Claims and Claim Expense: Property and liability insurance claims are substantial, around $1.29 billion in Q2 2025, indicating ongoing exposure to claim costs that impact underwriting profitability.
- Diluted Earnings per Share Volatility: Diluted EPS rose sharply to $49.67 in Q2 2025 but has shown variability in preceding quarters, suggesting earnings sensitivity to investment gains and restructuring charges.
Summary: Markel Group has grown its earnings and equity base steadily over recent years, driven by increased premiums and strong capital gains investment income. The company continues to generate solid operating cash flow, despite higher restructuring charges and significant insurance claims expenses. Investors should monitor how the restructuring impacts future profitability and how investment performance sustains non-interest income contributions. The balance sheet remains strong with maintained equity and manageable debt levels, supporting long-term financial health.
10/06/25 11:10 AM ETAI Generated. May Contain Errors.