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 shown solid financial performance over the last four years as seen in the recent quarterly financial statements for Q2 2025 and preceding quarters. Here is an analysis highlighting key trends and notable points that retail investors should consider:
- Strong Net Income Growth: The consolidated net income for Q2 2025 was $677.2 million, a substantial increase from $129.3 million in Q1 2025 and higher than prior comparable quarters in 2024 and 2023. This indicates improved profitability.
- Robust Operating Cash Flow: Net cash from continuing operating activities remained healthy at $504.4 million in Q2 2025, demonstrating strong cash generation despite fluctuations in other cash flow areas.
- Increased Premiums Earned: Premiums earned grew to $2.14 billion in Q2 2025 from $2.09 billion in Q1 2025, showing growth in the core insurance underwriting business.
- High Investment Gains: Markel realized $810 million in net realized & unrealized capital gains on investments in Q2 2025, up substantially from prior quarters. This shows effective investment management adding to income.
- Growing Asset Base: Total assets increased from approximately $50.9 billion in Q1 2023 to nearly $66.8 billion in Q2 2025, reflecting business growth and asset accumulation over time.
- Stable Equity Position: Total common equity rose from about $13.15 billion in Q1 2023 to over $17.3 billion in Q2 2025, indicating strengthening capitalization.
- Rising Restructuring Charges: Restructuring charges remain elevated, with $774 million in Q2 2025 and consistent high levels since 2023, which could indicate ongoing operational adjustments.
- Fluctuating Cash Balances: Cash and due from banks decreased from $4.19 billion in Q1 2025 to $3.72 billion in Q2 2025, showing some variability in liquidity but overall strong cash resources.
- Debt Management: Long-term debt has grown modestly from approximately $3.86 billion in early 2023 to about $4.36 billion by Q2 2025. Markel continues to issue and repay debt, balancing leverage and liquidity needs.
- Significant Special Charges: Other special charges have appeared inconsistently but reached $192 million in Q2 2025, which may negatively impact profitability and warrant monitoring.
Overall, Markel Group exhibits strong earnings growth, solid cash flows, and expanding asset and equity bases indicative of a well-managed and growing insurance and investment business. Investors should watch restructuring and special charges as well as debt trends, but the positive financial momentum is notable over recent years.
09/15/25 02:20 PM ETAI Generated. May Contain Errors.