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 consistent financial performance and stability over the past four years, as reflected in the quarterly financial data through Q2 2025. Here are the key takeaways from our analysis of their income statements, cash flow statements, and balance sheets:
- Strong Net Income Growth: Net income increased from $488 million in Q1 2023 to $677 million in Q2 2025, showing consistent profitability over recent quarters.
- Robust Revenue Generation: Total revenue grew steadily, with Q2 2025 revenue at approximately $4.55 billion compared to $3.60 billion in Q1 2023.
- Healthy Operating Cash Flow: Net cash from operating activities shows strong positive cash flow, reaching $504 million in Q2 2025, indicating good operational efficiency.
- Capital Investments Managed: Property and equipment purchases remain under control at around $40-$100 million quarterly, indicating balanced investment in growth without overspending.
- Equity Strengthening: Total common equity increased from about $13.15 billion in Q1 2023 to $17.32 billion by Q2 2025, highlighting growth in shareholder value.
- Stable Interest Expense: Interest expenses on long-term debt rose modestly from about $45 million in early 2023 to $53 million in mid-2025, reflecting manageable debt costs.
- Consistent Share Count: Weighted average shares outstanding stay steady around 12.5 to 13 million, suggesting limited dilution.
- Dividend and Equity Repurchase Activities: Markel repurchased common equity consistently and paid dividends, indicating capital returned to shareholders but also impacting cash flow.
- Investment Security Transactions: Large purchases and sales of investment securities occur regularly; these investing activities cause significant cash flow fluctuations but align with business strategy.
- Increasing Non-Interest Expenses: Total non-interest expenses have increased from around $2.9 billion in Q1 2023 to nearly $3.7 billion by Q2 2025, including rising restructuring charges and special charges, which may pressure margins.
- Negative Impact from Exchange Rate Changes: The company experiences both positive and negative impacts from exchange rate effects on cash, adding volatility to cash flows.
Summary: Markel Group has exhibited strong earnings growth and stable revenue expansion with disciplined operational cash flow management. The company maintains a solid balance sheet, steadily increasing equity and managing debt levels. Non-interest expenses, especially restructuring charges, have increased and should be monitored for potential margin impact. Investment activities cause fluctuations in cash but appear consistent with the company’s strategic asset management. Overall, the financials suggest a well-managed insurer with growth and shareholder return focus, though investors should watch expense trends and cash flow variability related to investing and currency effects.
10/18/25 05:47 AM ETAI Generated. May Contain Errors.