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 |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
60 |
674 |
489 |
678 |
43 |
751 |
1,025 |
250 |
905 |
531 |
122 |
Consolidated Net Income / (Loss) |
|
117 |
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
Net Income / (Loss) Continuing Operations |
|
117 |
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
Total Pre-Tax Income |
|
133 |
904 |
672 |
908 |
68 |
1,007 |
1,342 |
366 |
1,206 |
724 |
158 |
Total Revenue |
|
3,066 |
4,064 |
3,594 |
4,095 |
3,331 |
4,599 |
4,421 |
3,649 |
4,558 |
3,788 |
3,347 |
Net Interest Income / (Expense) |
|
-47 |
-49 |
-49 |
-47 |
-45 |
-44 |
-46 |
-53 |
-53 |
-53 |
-52 |
Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
Total Interest Expense |
|
47 |
49 |
49 |
47 |
45 |
44 |
46 |
53 |
53 |
53 |
52 |
Long-Term Debt Interest Expense |
|
47 |
49 |
49 |
47 |
45 |
44 |
46 |
53 |
53 |
53 |
52 |
Total Non-Interest Income |
|
3,066 |
4,211 |
3,643 |
4,143 |
3,375 |
4,643 |
4,467 |
3,702 |
4,611 |
3,841 |
3,399 |
Other Service Charges |
|
692 |
847 |
566 |
672 |
726 |
741 |
618 |
684 |
736 |
787 |
661 |
Net Realized & Unrealized Capital Gains on Investments |
|
-169 |
744 |
532 |
654 |
-74 |
1,146 |
1,121 |
93 |
1,153 |
361 |
88 |
Premiums Earned |
|
1,957 |
2,038 |
1,968 |
2,031 |
2,122 |
2,175 |
2,128 |
2,077 |
2,110 |
2,118 |
2,089 |
Other Non-Interest Income |
|
587 |
582 |
578 |
785 |
602 |
581 |
601 |
847 |
612 |
575 |
561 |
Total Non-Interest Expense |
|
2,886 |
3,258 |
2,922 |
3,187 |
3,263 |
3,592 |
3,079 |
3,283 |
3,352 |
3,065 |
3,189 |
Property & Liability Insurance Claims |
|
1,185 |
1,229 |
1,173 |
1,188 |
1,404 |
1,557 |
1,288 |
1,233 |
1,291 |
1,242 |
1,255 |
Other Operating Expenses |
|
1,127 |
1,129 |
996 |
1,242 |
1,152 |
1,140 |
1,060 |
1,305 |
1,159 |
1,172 |
1,068 |
Amortization Expense |
|
43 |
44 |
44 |
44 |
48 |
44 |
44 |
44 |
46 |
46 |
47 |
Restructuring Charge |
|
643 |
672 |
676 |
698 |
698 |
769 |
739 |
710 |
744 |
785 |
747 |
Other Special Charges |
|
-114 |
104 |
33 |
15 |
-39 |
81 |
-52 |
-8.71 |
112 |
-181 |
73 |
Income Tax Expense |
|
16 |
192 |
134 |
192 |
14 |
213 |
293 |
76 |
259 |
162 |
28 |
Preferred Stock Dividends Declared |
|
0.00 |
18 |
0.00 |
18 |
0.00 |
18 |
0.00 |
18 |
0.00 |
18 |
0.00 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
57 |
20 |
49 |
20 |
11 |
25 |
24 |
22 |
42 |
12 |
7.63 |
Basic Earnings per Share |
|
$3.09 |
$48.84 |
$37.33 |
$50.20 |
$3.15 |
$56.64 |
$75.56 |
$18.66 |
$66.40 |
$39.07 |
$12.11 |
Weighted Average Basic Shares Outstanding |
|
13.45M |
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
Diluted Earnings per Share |
|
$3.08 |
$48.85 |
$37.26 |
$50.09 |
$3.14 |
$56.49 |
$75.43 |
$18.62 |
$66.25 |
$39.02 |
$12.08 |
Weighted Average Diluted Shares Outstanding |
|
13.45M |
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
Weighted Average Basic & Diluted Shares Outstanding |
|
13.45M |
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
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 |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
588 |
-985 |
416 |
-104 |
1,104 |
1,716 |
-336 |
341 |
-889 |
-140 |
Net Cash From Operating Activities |
|
651 |
535 |
859 |
893 |
1,274 |
1,738 |
2,274 |
2,709 |
2,787 |
2,594 |
Net Cash From Continuing Operating Activities |
|
651 |
535 |
859 |
893 |
1,274 |
1,738 |
2,274 |
2,709 |
2,787 |
2,594 |
Net Income / (Loss) Continuing Operations |
|
589 |
460 |
401 |
-130 |
1,799 |
832 |
2,446 |
-103 |
2,101 |
2,847 |
Consolidated Net Income / (Loss) |
|
589 |
460 |
401 |
-130 |
1,799 |
832 |
2,446 |
-103 |
2,101 |
2,847 |
Depreciation Expense |
|
201 |
194 |
204 |
228 |
269 |
307 |
336 |
309 |
320 |
342 |
Amortization Expense |
|
- |
- |
- |
- |
- |
- |
- |
58 |
-60 |
-124 |
Non-Cash Adjustments to Reconcile Net Income |
|
-106 |
-1.07 |
2.16 |
530 |
-1,599 |
-522 |
-2,073 |
1,312 |
-1,453 |
-1,937 |
Changes in Operating Assets and Liabilities, net |
|
-32 |
-119 |
252 |
265 |
805 |
1,121 |
1,564 |
1,134 |
1,879 |
1,464 |
Net Cash From Investing Activities |
|
63 |
-1,638 |
-744 |
-797 |
-535 |
-512 |
-2,938 |
-1,670 |
-2,704 |
-2,399 |
Net Cash From Continuing Investing Activities |
|
63 |
-1,638 |
-744 |
-797 |
-535 |
-658 |
-2,938 |
-1,670 |
-2,704 |
-2,399 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-80 |
-64 |
-75 |
-107 |
-123 |
-101 |
-145 |
-255 |
-259 |
-255 |
Purchase of Investment Securities |
|
-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 |
|
2,066 |
1,329 |
1,374 |
2,073 |
1,126 |
2,222 |
909 |
1,394 |
2,425 |
2,246 |
Other Investing Activities, net |
|
- |
- |
578 |
-33 |
- |
0.00 |
0.00 |
461 |
0.00 |
0.00 |
Net Cash From Financing Activities |
|
-74 |
152 |
256 |
-179 |
359 |
435 |
370 |
-595 |
-1,000 |
-298 |
Net Cash From Continuing Financing Activities |
|
-74 |
152 |
256 |
-179 |
359 |
435 |
370 |
-595 |
-1,000 |
-298 |
Issuance of Debt |
|
70 |
559 |
665 |
207 |
1,645 |
223 |
1,199 |
1,034 |
625 |
1,434 |
Repayment of Debt |
|
-88 |
-322 |
-260 |
-332 |
-1,131 |
-276 |
-487 |
-1,255 |
-950 |
-897 |
Repurchase of Common Equity |
|
-31 |
-51 |
-111 |
-54 |
-116 |
-27 |
-207 |
-291 |
-445 |
-573 |
Payment of Dividends |
|
-6.29 |
-5.95 |
-7.90 |
0.00 |
0.00 |
-18 |
-36 |
-36 |
-125 |
-153 |
Other Financing Activities, Net |
|
-23 |
-28 |
-30 |
- |
-39 |
-59 |
-99 |
-48 |
-105 |
-109 |
Effect of Exchange Rate Changes |
|
-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 |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
-115 |
426 |
-217 |
236 |
-196 |
-713 |
-55 |
-61 |
411 |
-434 |
483 |
Net Cash From Operating Activities |
|
959 |
829 |
284 |
724 |
956 |
823 |
631 |
579 |
891 |
494 |
376 |
Net Cash From Continuing Operating Activities |
|
959 |
829 |
284 |
724 |
956 |
823 |
631 |
579 |
891 |
494 |
376 |
Net Income / (Loss) Continuing Operations |
|
117 |
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
Consolidated Net Income / (Loss) |
|
117 |
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
Non-Cash Adjustments to Reconcile Net Income |
|
843 |
-1,383 |
-254 |
8.51 |
902 |
-2,110 |
-419 |
289 |
-56 |
-1,751 |
247 |
Net Cash From Investing Activities |
|
-880 |
-387 |
-109 |
-265 |
-969 |
-1,361 |
-564 |
-994 |
-326 |
-514 |
193 |
Net Cash From Continuing Investing Activities |
|
-880 |
-387 |
-109 |
-265 |
-969 |
-1,361 |
-564 |
-994 |
-326 |
-514 |
193 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-99 |
-45 |
-37 |
-42 |
-76 |
-104 |
-72 |
-57 |
-52 |
-74 |
-41 |
Purchase of Investment Securities |
|
-987 |
-1,106 |
-727 |
-741 |
-1,301 |
-2,143 |
-1,079 |
-1,452 |
-913 |
-946 |
-831 |
Sale and/or Maturity of Investments |
|
206 |
672 |
656 |
477 |
407 |
886 |
587 |
515 |
638 |
506 |
1,065 |
Net Cash From Financing Activities |
|
-104 |
-104 |
-412 |
-218 |
-169 |
-200 |
-103 |
358 |
-189 |
-364 |
-106 |
Net Cash From Continuing Financing Activities |
|
-104 |
-104 |
-412 |
-218 |
-169 |
-200 |
-103 |
358 |
-189 |
-364 |
-106 |
Issuance of Debt |
|
229 |
276 |
161 |
195 |
120 |
149 |
272 |
829 |
177 |
156 |
263 |
Repayment of Debt |
|
-246 |
-272 |
-369 |
-277 |
-166 |
-138 |
-209 |
-284 |
-223 |
-180 |
-203 |
Repurchase of Common Equity |
|
-82 |
-83 |
-82 |
-105 |
-82 |
-176 |
-161 |
-99 |
-129 |
-184 |
-170 |
Other Financing Activities, Net |
|
-5.75 |
-7.51 |
-122 |
-12 |
-41 |
71 |
-4.89 |
-69 |
-15 |
-20 |
3.83 |
Effect of Exchange Rate Changes |
|
-90 |
88 |
20 |
-5.61 |
-13 |
26 |
-19 |
-3.17 |
35 |
-50 |
19 |
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 |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
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 |
|
2,630 |
1,739 |
2,198 |
2,014 |
3,073 |
4,342 |
3,978 |
4,137 |
3,747 |
3,693 |
Restricted Cash |
|
440 |
346 |
302 |
382 |
428 |
875 |
902 |
1,084 |
585 |
500 |
Trading Account Securities |
|
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 |
Unearned Premiums Asset |
|
1,436 |
1,583 |
7,413 |
8,245 |
8,696 |
9,371 |
11,506 |
13,474 |
15,056 |
18,179 |
Deferred Acquisition Cost |
|
353 |
392 |
466 |
475 |
566 |
631 |
794 |
925 |
931 |
876 |
Goodwill |
|
1,168 |
1,142 |
1,777 |
2,238 |
2,309 |
2,605 |
2,899 |
2,639 |
2,625 |
2,736 |
Intangible Assets |
|
792 |
723 |
1,356 |
1,726 |
1,738 |
1,783 |
1,822 |
1,747 |
1,589 |
1,460 |
Other Assets |
|
4,651 |
5,313 |
3,384 |
2,462 |
3,102 |
4,428 |
4,963 |
6,255 |
6,562 |
6,926 |
Total Liabilities & Shareholders' Equity |
|
24,939 |
25,875 |
32,805 |
33,306 |
37,474 |
41,710 |
48,477 |
49,791 |
55,046 |
61,898 |
Total Liabilities |
|
17,036 |
17,334 |
23,137 |
24,032 |
26,218 |
28,650 |
33,276 |
36,054 |
39,520 |
44,429 |
Long-Term Debt |
|
2,239 |
2,575 |
3,099 |
3,010 |
3,534 |
3,484 |
4,361 |
4,104 |
3,780 |
4,330 |
Claims and Claim Expense |
|
10,252 |
10,116 |
13,584 |
14,276 |
14,729 |
16,222 |
18,179 |
20,948 |
23,483 |
26,633 |
Future Policy Benefits |
|
1,123 |
1,050 |
1,072 |
1,001 |
986 |
1,070 |
903 |
651 |
649 |
583 |
Unearned Premiums Liability |
|
2,166 |
2,264 |
3,309 |
3,611 |
4,058 |
4,433 |
5,384 |
6,221 |
6,642 |
7,064 |
Other Long-Term Liabilities |
|
1,255 |
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 |
Redeemable Noncontrolling Interest |
|
63 |
74 |
166 |
174 |
178 |
246 |
461 |
523 |
470 |
540 |
Total Equity & Noncontrolling Interests |
|
7,841 |
8,467 |
9,502 |
9,100 |
11,078 |
12,815 |
14,740 |
13,214 |
15,056 |
16,929 |
Total Preferred & Common Equity |
|
7,834 |
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 |
|
7,834 |
8,461 |
9,504 |
9,081 |
11,071 |
12,208 |
14,125 |
12,559 |
14,392 |
16,324 |
Common Stock |
|
3,342 |
3,369 |
3,382 |
3,393 |
3,405 |
3,428 |
3,441 |
3,494 |
3,517 |
3,561 |
Retained Earnings |
|
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) |
|
1,355 |
1,566 |
2,346 |
-95 |
209 |
584 |
238 |
-767 |
-478 |
-617 |
Noncontrolling Interest |
|
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 |
Total Assets |
|
48,421 |
50,942 |
52,184 |
52,749 |
57,286 |
59,710 |
62,283 |
64,599 |
Cash and Due from Banks |
|
3,541 |
4,032 |
4,306 |
4,355 |
3,627 |
3,511 |
3,873 |
4,194 |
Restricted Cash |
|
1,255 |
973 |
935 |
690 |
650 |
705 |
753 |
481 |
Trading Account Securities |
|
18,677 |
20,517 |
21,435 |
21,526 |
25,090 |
25,570 |
27,659 |
27,975 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Unearned Premiums Asset |
|
13,501 |
13,940 |
14,477 |
14,800 |
15,968 |
17,657 |
18,069 |
20,234 |
Deferred Acquisition Cost |
|
946 |
994 |
1,013 |
986 |
962 |
1,001 |
968 |
961 |
Goodwill |
|
2,797 |
2,643 |
2,627 |
2,623 |
2,626 |
2,738 |
2,740 |
2,772 |
Intangible Assets |
|
1,686 |
1,706 |
1,678 |
1,633 |
1,546 |
1,553 |
1,508 |
1,635 |
Other Assets |
|
6,018 |
6,138 |
5,714 |
6,135 |
6,818 |
6,973 |
6,714 |
6,347 |
Total Liabilities & Shareholders' Equity |
|
48,421 |
50,942 |
52,184 |
52,749 |
57,286 |
59,710 |
62,283 |
64,599 |
Total Liabilities |
|
35,550 |
36,661 |
37,481 |
38,226 |
40,969 |
43,285 |
44,620 |
46,855 |
Long-Term Debt |
|
4,131 |
3,897 |
3,814 |
3,769 |
3,855 |
4,400 |
4,356 |
4,391 |
Claims and Claim Expense |
|
20,194 |
21,307 |
21,375 |
22,144 |
24,145 |
24,647 |
25,877 |
27,888 |
Future Policy Benefits |
|
733 |
669 |
644 |
600 |
617 |
595 |
623 |
588 |
Unearned Premiums Liability |
|
6,515 |
6,570 |
7,072 |
7,197 |
7,154 |
8,244 |
7,887 |
7,692 |
Other Long-Term Liabilities |
|
3,976 |
4,218 |
4,576 |
4,515 |
5,197 |
5,399 |
5,876 |
6,296 |
Commitments & Contingencies |
|
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 |
Total Equity & Noncontrolling Interests |
|
12,359 |
13,789 |
14,239 |
14,055 |
15,818 |
15,949 |
17,147 |
17,165 |
Total Preferred & Common Equity |
|
12,294 |
13,744 |
14,185 |
13,999 |
15,730 |
15,850 |
17,014 |
17,149 |
Preferred Stock |
|
592 |
592 |
592 |
592 |
592 |
592 |
592 |
592 |
Total Common Equity |
|
11,702 |
13,153 |
13,594 |
13,407 |
15,138 |
15,258 |
16,422 |
16,557 |
Common Stock |
|
3,483 |
3,507 |
3,515 |
3,520 |
3,548 |
3,547 |
3,553 |
3,583 |
Retained Earnings |
|
9,256 |
10,255 |
10,819 |
10,779 |
12,185 |
12,330 |
13,063 |
13,365 |
Accumulated Other Comprehensive Income / (Loss) |
|
-1,036 |
-610 |
-741 |
-891 |
-595 |
-618 |
-194 |
-391 |
Noncontrolling Interest |
|
65 |
45 |
54 |
56 |
88 |
99 |
133 |
16 |
Annual Metrics And Ratios for Markel Group
This table displays calculated financial ratios and metrics derived from Markel Group's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
4.69% |
3.55% |
9.03% |
12.78% |
39.89% |
2.17% |
32.49% |
-9.35% |
36.06% |
5.11% |
EBITDA Growth |
|
46.45% |
-12.62% |
-64.67% |
-24.44% |
1,061.43% |
-48.83% |
165.10% |
-93.79% |
1,252.74% |
32.36% |
EBIT Growth |
|
68.52% |
-15.12% |
-86.14% |
-109.00% |
29,200.04% |
-56.23% |
212.84% |
-104.84% |
1,850.86% |
37.08% |
NOPAT Growth |
|
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 |
|
82.01% |
-21.85% |
-12.96% |
-132.53% |
1,480.45% |
-53.78% |
194.06% |
-104.23% |
2,132.85% |
35.52% |
EPS Growth |
|
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 |
|
-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 |
|
161.88% |
-241.16% |
-144.12% |
138.19% |
-247.97% |
-30.51% |
37.92% |
382.22% |
-60.64% |
-44.38% |
Invested Capital Growth |
|
2.28% |
9.59% |
14.86% |
-3.78% |
20.40% |
11.86% |
18.25% |
-8.80% |
8.21% |
12.92% |
Revenue Q/Q Growth |
|
1.61% |
0.10% |
4.04% |
-8.53% |
29.92% |
1.63% |
3.25% |
3.19% |
3.54% |
-4.70% |
EBITDA Q/Q Growth |
|
29.87% |
7.13% |
49.81% |
-81.35% |
945.07% |
-6.39% |
9.58% |
-39.52% |
10.63% |
-5.94% |
EBIT Q/Q Growth |
|
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 |
|
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 |
|
15.72% |
-12.47% |
325.73% |
-112.27% |
236.62% |
-41.33% |
63.24% |
-277.28% |
4.09% |
-7.55% |
EPS Q/Q Growth |
|
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 |
|
-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 |
|
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 |
|
1.48% |
-0.70% |
10.71% |
-5.01% |
0.63% |
5.73% |
5.51% |
4.93% |
5.54% |
-1.00% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
17.96% |
15.15% |
4.91% |
3.29% |
27.31% |
13.68% |
27.37% |
1.88% |
18.65% |
23.49% |
EBIT Margin |
|
14.13% |
11.58% |
1.47% |
-0.12% |
24.44% |
10.47% |
24.72% |
-1.32% |
16.99% |
22.16% |
Profit (Net Income) Margin |
|
11.22% |
8.47% |
6.76% |
-1.95% |
19.24% |
8.70% |
19.32% |
-0.90% |
13.45% |
17.34% |
Tax Burden Percent |
|
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% |
Effective Tax Rate |
|
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) |
|
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) |
|
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) |
|
1.70% |
1.27% |
1.05% |
-1.33% |
4.24% |
1.53% |
3.76% |
-0.15% |
3.05% |
3.41% |
Return on Equity (ROE) |
|
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) |
|
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) |
|
2.96% |
2.48% |
0.30% |
-0.02% |
6.46% |
2.53% |
6.94% |
-0.31% |
5.06% |
6.22% |
Return on Assets (ROA) |
|
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) |
|
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) |
|
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) |
|
589 |
460 |
401 |
-5.50 |
1,799 |
832 |
2,446 |
-106 |
2,101 |
2,847 |
NOPAT Margin |
|
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% |
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% |
Operating Expenses to Revenue |
|
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) |
|
742 |
630 |
87 |
-7.86 |
2,286 |
1,000 |
3,130 |
-152 |
2,654 |
3,638 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
943 |
824 |
291 |
220 |
2,555 |
1,308 |
3,466 |
215 |
2,914 |
3,857 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
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) |
|
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) |
|
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) |
|
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% |
Earnings Yield |
|
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) |
|
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) |
|
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) |
|
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) |
|
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) |
|
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) |
|
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) |
|
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 |
|
0.28 |
0.30 |
0.32 |
0.32 |
0.31 |
0.27 |
0.29 |
0.30 |
0.24 |
0.25 |
Long-Term Debt to Equity |
|
0.28 |
0.30 |
0.32 |
0.32 |
0.31 |
0.27 |
0.29 |
0.30 |
0.24 |
0.25 |
Financial Leverage |
|
0.29 |
0.29 |
0.31 |
0.32 |
0.32 |
0.29 |
0.28 |
0.29 |
0.27 |
0.25 |
Leverage Ratio |
|
3.22 |
3.09 |
3.22 |
3.49 |
3.45 |
3.26 |
3.19 |
3.40 |
3.58 |
3.54 |
Compound Leverage Factor |
|
3.22 |
3.09 |
3.22 |
3.49 |
3.45 |
3.26 |
3.19 |
3.40 |
3.58 |
3.54 |
Debt to Total Capital |
|
22.08% |
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% |
Long-Term Debt to Total Capital |
|
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% |
3.58% |
3.03% |
3.32% |
3.07% |
2.72% |
Noncontrolling Interests to Total Capital |
|
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 |
|
77.24% |
76.12% |
74.44% |
73.92% |
74.85% |
73.79% |
72.21% |
70.40% |
74.55% |
74.88% |
Debt to EBITDA |
|
2.37 |
3.12 |
10.64 |
13.68 |
1.38 |
2.66 |
1.26 |
19.05 |
1.30 |
1.12 |
Net Debt to EBITDA |
|
-0.88 |
0.59 |
2.06 |
2.79 |
0.01 |
-1.33 |
-0.15 |
-5.19 |
-0.19 |
0.04 |
Long-Term Debt to EBITDA |
|
2.37 |
3.12 |
10.64 |
13.68 |
1.38 |
2.66 |
1.26 |
19.05 |
1.30 |
1.12 |
Debt to NOPAT |
|
3.80 |
5.59 |
7.73 |
-547.35 |
1.96 |
4.19 |
1.78 |
-38.68 |
1.80 |
1.52 |
Net Debt to NOPAT |
|
-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 |
|
3.80 |
5.59 |
7.73 |
-547.35 |
1.96 |
4.19 |
1.78 |
-38.68 |
1.80 |
1.52 |
Noncontrolling Interest Sharing Ratio |
|
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) |
|
363 |
-512 |
-1,251 |
478 |
-707 |
-922 |
-573 |
1,616 |
636 |
354 |
Operating Cash Flow to CapEx |
|
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 |
|
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 |
|
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 |
|
4.83 |
3.63 |
5.92 |
5.10 |
6.70 |
9.21 |
11.60 |
12.52 |
13.66 |
11.45 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.21 |
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 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
10,143 |
11,116 |
12,767 |
12,284 |
14,790 |
16,544 |
19,563 |
17,841 |
19,306 |
21,799 |
Invested Capital Turnover |
|
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 |
|
226 |
973 |
1,651 |
-483 |
2,506 |
1,754 |
3,019 |
-1,722 |
1,465 |
2,494 |
Enterprise Value (EV) |
|
11,562 |
13,225 |
16,587 |
15,220 |
16,009 |
13,357 |
17,423 |
17,781 |
19,351 |
23,486 |
Market Capitalization |
|
12,323 |
12,655 |
15,825 |
14,413 |
15,790 |
14,237 |
16,867 |
17,721 |
18,769 |
22,203 |
Book Value per Share |
|
$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 |
|
$421.06 |
$471.44 |
$458.61 |
$368.50 |
$508.51 |
$567.61 |
$688.01 |
$607.63 |
$770.03 |
$942.95 |
Total Capital |
|
10,143 |
11,116 |
12,767 |
12,284 |
14,790 |
16,544 |
19,563 |
17,841 |
19,306 |
21,799 |
Total Debt |
|
2,239 |
2,575 |
3,099 |
3,010 |
3,534 |
3,484 |
4,361 |
4,104 |
3,780 |
4,330 |
Total Long-Term Debt |
|
2,239 |
2,575 |
3,099 |
3,010 |
3,534 |
3,484 |
4,361 |
4,104 |
3,780 |
4,330 |
Net Debt |
|
-831 |
489 |
598 |
613 |
34 |
-1,733 |
-520 |
-1,118 |
-552 |
138 |
Capital Expenditures (CapEx) |
|
80 |
64 |
75 |
107 |
123 |
101 |
145 |
255 |
259 |
255 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
125 |
0.00 |
0.00 |
0.00 |
-2.74 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
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) |
|
201 |
194 |
204 |
228 |
269 |
307 |
336 |
367 |
260 |
219 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$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 |
13.90M |
13.87M |
13.78M |
13.78M |
13.61M |
13.41M |
13.11M |
12.77M |
Adjusted Diluted Earnings per Share |
|
$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 |
13.90M |
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 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
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) |
|
1,744 |
1,569 |
1,172 |
1,304 |
3,294 |
911 |
4,182 |
1,614 |
4,422 |
5,077 |
Normalized NOPAT Margin |
|
33.21% |
28.86% |
19.76% |
19.49% |
35.21% |
9.54% |
33.03% |
14.06% |
28.31% |
30.92% |
Pre Tax Income Margin |
|
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 |
|
6.27 |
4.85 |
0.66 |
-0.05 |
13.31 |
5.63 |
17.05 |
-0.77 |
14.34 |
17.81 |
NOPAT to Interest Expense |
|
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 |
|
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 |
|
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 |
|
1.07% |
1.29% |
1.97% |
0.00% |
0.00% |
2.21% |
1.47% |
-34.83% |
5.95% |
5.38% |
Augmented Payout Ratio |
|
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 |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
16.10% |
9.55% |
40.58% |
128.51% |
8.63% |
13.15% |
23.02% |
-10.89% |
36.85% |
-17.62% |
-24.30% |
EBITDA Growth |
|
-20.95% |
-27.89% |
3,525.66% |
192.80% |
-48.63% |
23.60% |
93.60% |
-56.91% |
988.95% |
-26.74% |
-85.23% |
EBIT Growth |
|
-26.02% |
-29.08% |
1,103.06% |
184.71% |
-62.62% |
24.83% |
99.80% |
-59.68% |
1,687.11% |
-28.14% |
-88.24% |
NOPAT Growth |
|
-38.44% |
-18.51% |
1,247.58% |
191.17% |
-54.38% |
11.60% |
95.09% |
-59.51% |
1,677.69% |
-29.30% |
-87.67% |
Net Income Growth |
|
-38.44% |
-18.51% |
1,201.78% |
181.10% |
-54.38% |
11.60% |
95.09% |
-59.51% |
1,677.69% |
-29.30% |
-87.67% |
EPS Growth |
|
-79.59% |
-21.53% |
673.23% |
172.44% |
1.95% |
15.64% |
102.44% |
-62.83% |
2,009.87% |
-30.93% |
-83.99% |
Operating Cash Flow Growth |
|
18.54% |
27.25% |
-31.50% |
43.14% |
-0.38% |
-0.80% |
121.92% |
-20.13% |
-6.79% |
-39.95% |
-40.35% |
Free Cash Flow Firm Growth |
|
161.19% |
213.44% |
166.20% |
77.65% |
-174.70% |
-127.57% |
-168.76% |
-5,418.31% |
-124.98% |
-187.99% |
-93.76% |
Invested Capital Growth |
|
-8.29% |
-8.80% |
-4.41% |
4.24% |
7.58% |
8.21% |
10.98% |
12.46% |
20.38% |
12.92% |
9.73% |
Revenue Q/Q Growth |
|
71.08% |
32.56% |
-11.57% |
13.95% |
-18.67% |
38.07% |
-2.92% |
-17.46% |
24.90% |
-16.89% |
-11.65% |
EBITDA Q/Q Growth |
|
121.83% |
279.65% |
-15.81% |
33.01% |
-87.92% |
813.58% |
37.71% |
-70.40% |
205.32% |
-38.54% |
-73.42% |
EBIT Q/Q Growth |
|
116.85% |
346.68% |
-16.74% |
35.19% |
-92.56% |
1,391.50% |
39.44% |
-72.71% |
229.52% |
-40.02% |
-78.20% |
NOPAT Q/Q Growth |
|
114.87% |
509.42% |
-24.42% |
33.12% |
-92.56% |
1,390.75% |
32.12% |
-72.37% |
226.70% |
-40.71% |
-76.96% |
Net Income Q/Q Growth |
|
113.23% |
509.42% |
-24.42% |
33.12% |
-92.56% |
1,390.75% |
32.12% |
-72.37% |
226.70% |
-40.71% |
-76.96% |
EPS Q/Q Growth |
|
104.45% |
1,486.04% |
-23.73% |
34.43% |
-93.73% |
1,699.04% |
33.53% |
-75.31% |
255.80% |
-41.10% |
-69.04% |
Operating Cash Flow Q/Q Growth |
|
89.54% |
-13.56% |
-65.73% |
154.92% |
31.92% |
-13.93% |
-23.33% |
-8.25% |
53.95% |
-44.55% |
-23.84% |
Free Cash Flow Firm Q/Q Growth |
|
1,111.37% |
47.12% |
-43.48% |
-102.66% |
-3,279.60% |
45.70% |
-40.98% |
-113.32% |
-37.79% |
30.50% |
5.15% |
Invested Capital Q/Q Growth |
|
-4.29% |
4.93% |
1.89% |
1.87% |
-1.22% |
5.54% |
4.49% |
3.23% |
5.73% |
-1.00% |
1.54% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
7.31% |
20.92% |
19.92% |
23.25% |
3.45% |
22.86% |
31.35% |
11.24% |
27.49% |
20.33% |
6.12% |
EBIT Margin |
|
5.89% |
19.84% |
18.69% |
22.17% |
2.03% |
21.89% |
30.35% |
10.03% |
26.47% |
19.10% |
4.71% |
Profit (Net Income) Margin |
|
3.81% |
17.51% |
14.96% |
17.48% |
1.60% |
17.27% |
23.73% |
7.94% |
20.78% |
14.82% |
3.86% |
Tax Burden Percent |
|
87.64% |
78.71% |
80.09% |
78.86% |
78.91% |
78.87% |
78.20% |
79.17% |
78.50% |
77.60% |
81.99% |
Interest Burden Percent |
|
73.78% |
112.08% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
12.36% |
21.29% |
19.91% |
21.14% |
21.09% |
21.13% |
21.80% |
20.83% |
21.50% |
22.40% |
18.01% |
Return on Invested Capital (ROIC) |
|
2.38% |
10.75% |
10.07% |
14.28% |
1.37% |
14.52% |
20.35% |
6.46% |
17.76% |
11.84% |
2.80% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
2.38% |
10.75% |
10.07% |
14.28% |
1.37% |
14.52% |
20.35% |
6.46% |
17.76% |
11.84% |
2.80% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.74% |
3.14% |
2.90% |
4.25% |
0.39% |
3.91% |
5.16% |
1.70% |
4.48% |
2.91% |
0.68% |
Return on Equity (ROE) |
|
3.12% |
13.89% |
12.98% |
18.53% |
1.76% |
18.43% |
25.51% |
8.16% |
22.24% |
14.75% |
3.48% |
Cash Return on Invested Capital (CROIC) |
|
8.98% |
8.64% |
7.10% |
7.33% |
4.13% |
3.42% |
3.22% |
-0.62% |
-3.21% |
1.72% |
-0.16% |
Operating Return on Assets (OROA) |
|
1.38% |
4.64% |
4.68% |
6.56% |
0.60% |
6.52% |
9.22% |
2.87% |
7.93% |
5.36% |
1.19% |
Return on Assets (ROA) |
|
0.89% |
4.09% |
3.75% |
5.17% |
0.48% |
5.15% |
7.21% |
2.27% |
6.22% |
4.16% |
0.97% |
Return on Common Equity (ROCE) |
|
2.89% |
12.81% |
11.98% |
17.06% |
1.61% |
16.98% |
23.59% |
7.57% |
20.61% |
13.73% |
3.24% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.47% |
0.00% |
3.52% |
14.68% |
14.42% |
0.00% |
16.61% |
13.79% |
18.10% |
0.00% |
11.24% |
Net Operating Profit after Tax (NOPAT) |
|
117 |
712 |
538 |
716 |
53 |
794 |
1,049 |
290 |
947 |
561 |
129 |
NOPAT Margin |
|
3.81% |
17.51% |
14.96% |
17.48% |
1.60% |
17.27% |
23.73% |
7.94% |
20.78% |
14.82% |
3.86% |
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 |
|
94.11% |
80.16% |
81.32% |
77.83% |
97.97% |
78.11% |
69.65% |
89.97% |
73.53% |
80.90% |
95.29% |
Earnings before Interest and Taxes (EBIT) |
|
181 |
807 |
672 |
908 |
68 |
1,007 |
1,342 |
366 |
1,206 |
724 |
158 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
224 |
850 |
716 |
952 |
115 |
1,051 |
1,386 |
410 |
1,253 |
770 |
205 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.25 |
1.41 |
1.30 |
1.36 |
1.46 |
1.30 |
1.33 |
1.34 |
1.24 |
1.36 |
1.44 |
Price to Tangible Book Value (P/TBV) |
|
2.03 |
2.17 |
1.95 |
1.99 |
2.13 |
1.84 |
1.83 |
1.87 |
1.67 |
1.83 |
1.97 |
Price to Revenue (P/Rev) |
|
1.32 |
1.54 |
1.37 |
1.25 |
1.29 |
1.20 |
1.22 |
1.28 |
1.18 |
1.35 |
1.56 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
59.45 |
9.72 |
10.38 |
9.58 |
8.06 |
9.90 |
6.93 |
8.19 |
13.21 |
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% |
0.00% |
1.68% |
10.29% |
9.64% |
10.44% |
12.41% |
10.10% |
14.44% |
12.21% |
7.57% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.89 |
1.00 |
0.94 |
0.98 |
1.06 |
1.00 |
1.03 |
1.05 |
0.97 |
1.08 |
1.12 |
Enterprise Value to Revenue (EV/Rev) |
|
1.36 |
1.55 |
1.37 |
1.22 |
1.28 |
1.24 |
1.27 |
1.36 |
1.24 |
1.43 |
1.62 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
42.60 |
82.55 |
22.44 |
6.62 |
7.36 |
6.64 |
5.96 |
7.37 |
5.19 |
6.09 |
9.39 |
Enterprise Value to EBIT (EV/EBIT) |
|
84.68 |
0.00 |
29.22 |
7.07 |
7.90 |
7.29 |
6.28 |
7.85 |
5.43 |
6.46 |
10.10 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
260.18 |
0.00 |
35.49 |
8.71 |
9.60 |
9.21 |
7.99 |
9.99 |
6.91 |
8.25 |
12.85 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
5.99 |
6.56 |
6.65 |
6.49 |
6.93 |
6.94 |
6.66 |
7.31 |
7.28 |
9.05 |
10.59 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
9.51 |
11.00 |
12.98 |
13.65 |
26.55 |
30.42 |
33.80 |
0.00 |
0.00 |
66.39 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.32 |
0.30 |
0.27 |
0.26 |
0.26 |
0.24 |
0.24 |
0.27 |
0.25 |
0.25 |
0.25 |
Long-Term Debt to Equity |
|
0.32 |
0.30 |
0.27 |
0.26 |
0.26 |
0.24 |
0.24 |
0.27 |
0.25 |
0.25 |
0.25 |
Financial Leverage |
|
0.31 |
0.29 |
0.29 |
0.30 |
0.29 |
0.27 |
0.25 |
0.26 |
0.25 |
0.25 |
0.24 |
Leverage Ratio |
|
3.50 |
3.40 |
3.46 |
3.58 |
3.69 |
3.58 |
3.54 |
3.59 |
3.57 |
3.54 |
3.58 |
Compound Leverage Factor |
|
2.59 |
3.81 |
3.46 |
3.58 |
3.69 |
3.58 |
3.54 |
3.59 |
3.57 |
3.54 |
3.58 |
Debt to Total Capital |
|
24.30% |
23.00% |
21.44% |
20.60% |
20.61% |
19.58% |
19.11% |
21.13% |
19.78% |
19.86% |
19.84% |
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 |
|
24.30% |
23.00% |
21.44% |
20.60% |
20.61% |
19.58% |
19.11% |
21.13% |
19.78% |
19.86% |
19.84% |
Preferred Equity to Total Capital |
|
3.48% |
3.32% |
3.26% |
3.20% |
3.24% |
3.07% |
2.93% |
2.84% |
2.69% |
2.72% |
2.67% |
Noncontrolling Interests to Total Capital |
|
3.40% |
3.28% |
2.95% |
2.80% |
2.86% |
2.81% |
2.91% |
2.76% |
2.95% |
2.54% |
2.69% |
Common Equity to Total Capital |
|
68.82% |
70.40% |
72.35% |
73.41% |
73.30% |
74.55% |
75.04% |
73.27% |
74.58% |
74.88% |
74.80% |
Debt to EBITDA |
|
11.60 |
19.05 |
5.10 |
1.39 |
1.43 |
1.30 |
1.10 |
1.49 |
1.06 |
1.12 |
1.66 |
Net Debt to EBITDA |
|
-1.87 |
-5.19 |
-1.45 |
-0.52 |
-0.48 |
-0.19 |
-0.12 |
0.06 |
-0.07 |
0.04 |
-0.11 |
Long-Term Debt to EBITDA |
|
11.60 |
19.05 |
5.10 |
1.39 |
1.43 |
1.30 |
1.10 |
1.49 |
1.06 |
1.12 |
1.66 |
Debt to NOPAT |
|
70.86 |
-38.68 |
8.06 |
1.83 |
1.87 |
1.80 |
1.48 |
2.01 |
1.41 |
1.52 |
2.28 |
Net Debt to NOPAT |
|
-11.40 |
10.54 |
-2.29 |
-0.69 |
-0.63 |
-0.26 |
-0.16 |
0.08 |
-0.09 |
0.05 |
-0.15 |
Long-Term Debt to NOPAT |
|
70.86 |
-38.68 |
8.06 |
1.83 |
1.87 |
1.80 |
1.48 |
2.01 |
1.41 |
1.52 |
2.28 |
Noncontrolling Interest Sharing Ratio |
|
7.43% |
7.79% |
7.64% |
7.90% |
8.34% |
7.90% |
7.54% |
7.31% |
7.32% |
6.91% |
6.95% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
1,654 |
2,434 |
1,376 |
-37 |
-1,236 |
-671 |
-946 |
-2,018 |
-2,780 |
-1,932 |
-1,833 |
Operating Cash Flow to CapEx |
|
971.54% |
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% |
Free Cash Flow to Firm to Interest Expense |
|
34.94 |
49.70 |
27.82 |
-0.77 |
-27.74 |
-15.30 |
-20.77 |
-38.36 |
-52.10 |
-36.60 |
-35.15 |
Operating Cash Flow to Interest Expense |
|
20.26 |
16.93 |
5.75 |
15.34 |
21.45 |
18.75 |
13.85 |
11.00 |
16.69 |
9.36 |
7.22 |
Operating Cash Flow Less CapEx to Interest Expense |
|
18.17 |
16.00 |
5.00 |
14.45 |
19.75 |
16.39 |
12.27 |
9.91 |
15.72 |
7.96 |
6.43 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.23 |
0.23 |
0.25 |
0.30 |
0.30 |
0.30 |
0.30 |
0.29 |
0.30 |
0.28 |
0.25 |
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 |
|
17,003 |
17,841 |
18,178 |
18,517 |
18,292 |
19,306 |
20,173 |
20,825 |
22,019 |
21,799 |
22,135 |
Invested Capital Turnover |
|
0.63 |
0.61 |
0.67 |
0.82 |
0.85 |
0.84 |
0.86 |
0.81 |
0.85 |
0.80 |
0.73 |
Increase / (Decrease) in Invested Capital |
|
-1,538 |
-1,722 |
-838 |
752 |
1,289 |
1,465 |
1,995 |
2,308 |
3,727 |
2,494 |
1,962 |
Enterprise Value (EV) |
|
15,170 |
17,781 |
17,149 |
18,144 |
19,372 |
19,351 |
20,870 |
21,839 |
21,276 |
23,486 |
24,778 |
Market Capitalization |
|
14,665 |
17,721 |
17,128 |
18,461 |
19,532 |
18,769 |
20,112 |
20,488 |
20,306 |
22,203 |
23,875 |
Book Value per Share |
|
$865.19 |
$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 |
Tangible Book Value per Share |
|
$533.69 |
$607.63 |
$656.56 |
$696.01 |
$689.86 |
$770.03 |
$843.36 |
$843.45 |
$940.49 |
$942.95 |
$951.39 |
Total Capital |
|
17,003 |
17,841 |
18,178 |
18,517 |
18,292 |
19,306 |
20,173 |
20,825 |
22,019 |
21,799 |
22,135 |
Total Debt |
|
4,131 |
4,104 |
3,897 |
3,814 |
3,769 |
3,780 |
3,855 |
4,400 |
4,356 |
4,330 |
4,391 |
Total Long-Term Debt |
|
4,131 |
4,104 |
3,897 |
3,814 |
3,769 |
3,780 |
3,855 |
4,400 |
4,356 |
4,330 |
4,391 |
Net Debt |
|
-665 |
-1,118 |
-1,108 |
-1,427 |
-1,276 |
-552 |
-421 |
184 |
-270 |
138 |
-284 |
Capital Expenditures (CapEx) |
|
99 |
45 |
37 |
42 |
76 |
104 |
72 |
57 |
52 |
74 |
41 |
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) |
|
4,131 |
4,104 |
3,897 |
3,814 |
3,769 |
3,780 |
3,855 |
4,400 |
4,356 |
4,330 |
4,391 |
Total Depreciation and Amortization (D&A) |
|
43 |
44 |
44 |
44 |
48 |
44 |
44 |
44 |
46 |
46 |
47 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$3.51 |
$48.84 |
$37.33 |
$50.20 |
$3.15 |
$56.64 |
$75.56 |
$18.66 |
$66.40 |
$39.07 |
$12.11 |
Adjusted Weighted Average Basic Shares Outstanding |
|
13.45M |
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
Adjusted Diluted Earnings per Share |
|
$3.50 |
$48.85 |
$37.26 |
$50.09 |
$3.14 |
$56.49 |
$75.43 |
$18.62 |
$66.25 |
$39.02 |
$12.08 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
13.45M |
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
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 |
|
13.45M |
13.41M |
13.35M |
13.26M |
13.22M |
13.11M |
13.00M |
12.95M |
12.86M |
12.77M |
12.68M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
581 |
1,323 |
1,105 |
1,278 |
573 |
1,465 |
1,587 |
845 |
1,618 |
1,030 |
802 |
Normalized NOPAT Margin |
|
18.95% |
32.54% |
30.75% |
31.21% |
17.21% |
31.85% |
35.89% |
23.16% |
35.50% |
27.19% |
23.95% |
Pre Tax Income Margin |
|
4.34% |
22.24% |
18.69% |
22.17% |
2.03% |
21.89% |
30.35% |
10.03% |
26.47% |
19.10% |
4.71% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
3.81 |
16.47 |
13.58 |
19.23 |
1.52 |
22.95 |
29.46 |
6.96 |
22.61 |
13.70 |
3.03 |
NOPAT to Interest Expense |
|
2.47 |
14.53 |
10.88 |
15.16 |
1.20 |
18.10 |
23.03 |
5.51 |
17.75 |
10.63 |
2.48 |
EBIT Less CapEx to Interest Expense |
|
1.73 |
15.54 |
12.83 |
18.33 |
-0.18 |
20.59 |
27.88 |
5.87 |
21.63 |
12.30 |
2.24 |
NOPAT Less CapEx to Interest Expense |
|
0.38 |
13.60 |
10.13 |
14.27 |
-0.50 |
15.74 |
21.45 |
4.42 |
16.77 |
9.23 |
1.70 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
61.75% |
-34.83% |
0.00% |
1.73% |
1.78% |
5.95% |
0.00% |
5.72% |
4.06% |
5.38% |
0.00% |
Augmented Payout Ratio |
|
562.97% |
-316.18% |
60.73% |
18.62% |
19.24% |
27.15% |
20.07% |
29.43% |
22.40% |
25.50% |
30.20% |
Key Financial Trends
Markel Group Inc. (NYSE: MKL) has shown notable financial trends over the recent quarters since mid-2022 through Q1 2025, reflecting steady operational performance, investment activity, and some restructuring impacts. Below is a summary highlighting the key financial insights observed across income statements, cash flow, and balance sheets.
- Markel consistently generates strong premiums earned, maintaining above $1.9 billion per quarter, peaking around $2.1 billion, which supports stable core revenue streams.
- Net realized and unrealized capital gains on investments have been a significant contributor to non-interest income, with peaks exceeding $1.1 billion in some quarters, boosting total revenue.
- Total non-interest income (including premiums) remains robust, reaching up to approximately $4.6 billion in Q3 2024, indicating diversified revenue.
- Net income attributable to common shareholders shows strong growth, peaking above $1 billion in some quarters, including Q3 2024 ($905 million) and Q1 2024 ($1.03 billion), with EPS reaching over $75 in Q1 2024.
- Cash and equivalents position increased from around $3.6 billion in Q1 2022 to about $4.2 billion in Q1 2025, enhancing liquidity.
- Net cash provided by operating activities remains solid, typically above $370 million per quarter recently, with Q1 2025 showing $376 million, supporting ongoing operations and investments.
- Balance sheet total assets grew from about $50.9 billion in Q1 2022 to approximately $64.6 billion by Q1 2025, reflecting business growth and asset accumulation.
- Long-term debt levels have fluctuated slightly, roughly in $3.8–4.4 billion range over the periods, which is manageable but should be monitored.
- Restructuring charges remained high in recent quarters (for example, $747 million in Q1 2025), which impacts short-term profitability but may improve operational efficiency long-term.
- There was a significant drop in net income in Q1 2025 to $121.7 million from quarterly highs exceeding $500 million in 2024, due mainly to reduced capital gains and increased restructuring expenses.
- Total non-interest expenses increased sharply in Q1 2025 ($3.18 billion), up from roughly $3 billion in previous quarters, driven by restructuring and special charges, reducing quarterly profitability.
- There is considerable variability in the "Net Realized & Unrealized Capital Gains" component, including a few negative quarters, which can create volatility in overall earnings.
Summary of Trends: Markel has demonstrated strong revenue generation and robust earnings growth over 2022 and 2023, supported by premiums and investment income. However, early 2025 shows signs of pressure due to substantial restructuring charges and increased expenses, contributing to markedly lower quarterly net income and EPS compared to previous periods. The company’s solid cash flow and asset base provide operational flexibility and capacity to invest. Investors should watch for how effectively management controls restructuring costs while sustaining investment performance moving forward.
08/05/25 06:59 AMAI Generated. May Contain Errors.