What is Markel Corporation's earnings per share (EPS)?

Markel Corporation (MKL) reported diluted earnings per share of $169.22 for fiscal year 2025. This represents a -15.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Markel Corporation Financials

MKL

Trailing 12 months to June 30, 2026

Revenue $15.5B +9.1% YoY

Net Income $2.3B +2.3% YoY

EPS (Diluted) $181.73 +8.9% YoY

Free Cash Flow $2.1B +3.4% YoY

Market Cap $22.3B as of Sep 2, 2026

Price / Sales 1.4x on $15.5B revenue, trailing 12 months to June 30, 2026

Price / Earnings 9.7x on $2.3B net income, trailing 12 months to June 30, 2026

Price / Book 1.2x on $19.0B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 29, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MKL SEC filings page.

Markel Corporation (MKL) reported $15.5B in revenue over the twelve months to Jun 30, 2026, up 9.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI MKL FY2025 2026-08-29

Markel’s dominant mechanic is balance-sheet expansion paired with recurring cash generation, while 2025 profitability stepped back from FY2024’s peak.

From FY2023 to FY2025, total assets expanded 25.2% while long-term debt rose only 13.8%, suggesting growth was not primarily funded by additional term borrowing. Total liabilities and equity both increased by roughly 24%, pointing to a broader balance-sheet expansion rather than a simple leverage build.

In FY2025, operating cash flow reached $2.8B against net income of $2.1B, so accounting earnings converted into more cash than they recognized. Free cash flow was $2.6B after $207M of capital spending, indicating relatively modest reinvestment needs compared with cash generation.

Revenue continued rising into FY2025, but operating margin compressed from 25.1% to 20.6%, showing that added scale did not translate proportionally into operating profit. Net margin also fell to 13.6% from 18.5%, making the year’s earnings decline a profitability issue rather than merely a top-line slowdown.

Financial Health Signals

Financial health score not available

Markel Corporation does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/7

Markel Corporation passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.31x

For every $1 of reported earnings, Markel Corporation generates $1.31 in operating cash flow ($2.8B OCF vs $2.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

15.52x

Markel Corporation earns $15.52 in operating income for every $1 of interest expense ($3.2B vs $205.9M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$4.0B

YoY-0.1%

QoQ+13.2%

5Y CAGR+2.8%

10Y CAGR+11.3%

Markel Corporation generated $4.0B in revenue in Q2 2026. This represents a decrease of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 13.2%.

Net Income

$1.2B

YoY+77.9%

QoQ+650.6%

5Y CAGR+8.1%

10Y CAGR+31.0%

Markel Corporation reported $1.2B in net income in Q2 2026. This represents an increase of 77.9% from the same quarter a year earlier. Against the prior quarter it is up 650.6%.

EPS (Diluted)

$92.76

YoY+86.8%

QoQ+590.8%

5Y CAGR+10.2%

10Y CAGR+32.9%

Markel Corporation earned $92.76 per diluted share (EPS) in Q2 2026. This represents an increase of 86.8% from the same quarter a year earlier. Against the prior quarter it is up 590.8%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$384.5M

YoY-15.3%

QoQ+1326.5%

5Y CAGR-3.9%

10Y CAGR+9.5%

Markel Corporation generated $384.5M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 15.3% from the same quarter a year earlier. Against the prior quarter it is up 1326.5%.

Cash & Debt

$3.4B

YoY-8.0%

QoQ-7.0%

5Y CAGR-1.4%

10Y CAGR+5.5%

Markel Corporation held $3.4B in cash against $4.4B in long-term debt as of Q2 2026.

Shares Outstanding

12M

YoY-2.1%

QoQ-1.0%

5Y CAGR-2.0%

10Y CAGR-1.2%

Markel Corporation had 12M shares outstanding in Q2 2026. This represents a decrease of 2.1% from the same quarter a year earlier. Against the prior quarter it is down 1.0%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Operating Margin

38.8%

YoY+11.3pp

QoQ+46.5pp

5Y CAGR+8.0pp

Markel Corporation's operating margin was 38.8% in Q2 2026, reflecting core business profitability. This is up 11.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 46.5 percentage points.

Net Margin

29.1%

YoY+12.8pp

QoQ+35.1pp

5Y CAGR+6.5pp

10Y CAGR+23.4pp

Markel Corporation's net profit margin was 29.1% in Q2 2026, showing the share of revenue converted to profit. This is up 12.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 35.1 percentage points.

Return on Equity

6.2%

YoY+2.4pp

QoQ+7.3pp

5Y CAGR+0.5pp

10Y CAGR+5.2pp

Markel Corporation's ROE was 6.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.3 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$236.7M

YoY+138.3%

QoQ+76.7%

5Y CAGR+43.6%

10Y CAGR+32.2%

Markel Corporation spent $236.7M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 138.3% from the same quarter a year earlier. Against the prior quarter it is up 76.7%.

Capital Expenditures

$44.3M

YoY-12.5%

QoQ-6.2%

5Y CAGR+12.1%

10Y CAGR+8.4%

Markel Corporation invested $44.3M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 12.5% from the same quarter a year earlier. Against the prior quarter it is down 6.2%.

R&D Spending

Not reported for Q2 2026.

MKL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MKL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$15.5B	$15.5B+4.7%	$14.8B+3.7%	$14.3B+22.3%	$11.7B-9.1%	$12.8B+32.0%	$9.7B+2.2%	$9.5B+39.2%	$6.8B+12.9%	$6.1B+8.0%	$5.6B+4.5%	$5.4B+4.6%	$5.1B+18.8%	$4.3B+44.1%	$3.0B+14.1%	$2.6B
Operating Income	$3.1B	$3.2B-13.9%	$3.7B+26.8%	$2.9B+3237.9%	-$93.3M-102.9%	$3.2B+154.5%	$1.3B-48.6%	$2.5B+6130.9%	$39.8M-81.6%	$216.6M-73.1%	$805.2M-6.4%	$860.4M+54.2%	$557.8M+17.3%	$475.7M+17.5%	$404.8M+46.4%	$276.4M
EBITDA	N/A	$3.5B-12.6%	$4.1B+24.8%	$3.2B+1403.2%	$216.1M-94.0%	$3.6B+126.3%	$1.6B-42.4%	$2.7B+926.4%	$267.6M-36.4%	$420.5M-57.9%	$999.3M-5.8%	$1.1B+39.4%	$761.4M+14.4%	$665.8M+35.3%	$492.1M+41.8%	$347.0M
Interest Expense	$204.0M	$205.9M+0.8%	$204.3M+10.4%	$185.1M-5.6%	$196.1M+6.8%	$183.6M+3.4%	$177.6M+3.4%	$171.7M+11.3%	$154.2M+16.4%	$132.5M+2.0%	$129.9M+9.8%	$118.3M+0.7%	$117.4M+3.0%	$114.0M+22.9%	$92.8M+7.5%	$86.3M
Income Tax	$634.0M	$580.3M-26.6%	$790.3M+43.0%	$552.6M+1246.3%	-$48.2M-107.0%	$684.0M+305.5%	$168.7M-65.3%	$486.3M+297.0%	$122.5M+139.1%	-$313.5M-285.0%	$169.5M+10.8%	$153.0M+31.1%	$116.7M+49.8%	$77.9M+44.8%	$53.8M+29.0%	$41.7M
Net Income	$2.3B	$2.1B-23.3%	$2.7B+37.6%	$2.0B+1022.9%	-$216.3M-108.9%	$2.4B+196.9%	$816.0M-54.4%	$1.8B+1496.8%	-$128.2M-132.4%	$395.3M-13.3%	$455.7M-21.8%	$582.8M+81.4%	$321.2M+14.3%	$281.0M+10.9%	$253.4M+78.4%	$142.0M
EPS (Basic)	N/A	$169.74-15.0%	$199.69+35.5%	$147.32+721.1%	-$23.72-113.4%	$176.79+217.6%	$55.67-56.9%	$129.25+1453.4%	-$9.55-136.9%	$25.89-17.6%	$31.41-25.2%	$41.99+87.6%	$22.38-0.8%	$22.57-13.1%	$25.96+77.1%	$14.66
EPS (Diluted)	$181.73	$169.22-15.1%	$199.32+35.6%	$146.98+719.6%	-$23.72	$176.38+217.1%	$55.63-56.9%	$129.07+1451.5%	-$9.55-137.0%	$25.81-17.5%	$31.27-25.1%	$41.74+87.4%	$22.27-0.9%	$22.48-13.2%	$25.89+77.3%	$14.60
Diluted Shares (Avg)	N/A	13M-3.0%	13M-2.5%	13M-1.5%	14M	14M-0.2%	14M-0.4%	14M-0.3%	14M-0.6%	14M-0.5%	14M+0.1%	14M0.0%	14M+11.7%	13M+30.2%	10M-0.6%	10M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$4.0B-0.1%	$3.6B+0.1%	$4.0B+35.8%	$3.9B+6.5%	$4.0B+8.7%	$3.5B-20.6%	$3.0B-5.4%	$3.7B+9.4%
Operating Income	$1.6B+40.9%	-$273.3M-196.7%	$795.1M+33.5%	$1.0B-26.4%	$1.1B+170.1%	$282.5M-78.8%	$595.5M-47.4%	$1.4B+1783.4%
Interest Expense	$52.4M-1.3%	$50.9M-2.4%	$50.0M-5.3%	$50.7M-5.0%	$53.1M+0.9%	$52.1M+14.5%	$52.8M+20.4%	$53.4M+19.8%
Income Tax	$332.9M+79.8%	-$65.6M-330.9%	$152.1M-6.2%	$214.7M-17.3%	$185.2M+142.9%	$28.4M-90.3%	$162.1M-23.8%	$259.4M+1722.3%
Net Income	$1.2B+77.9%	-$212.3M-274.4%	$576.8M+5.0%	$751.3M-17.0%	$657.1M+145.5%	$121.7M-88.1%	$549.2M-28.6%	$905.0M+2024.8%
EPS (Basic)	N/A	-$18.90-256.1%	$48.82+25.2%	$59.44-10.5%	$49.80+166.9%	$12.11-84.0%	$38.98-31.0%	$66.40+2007.9%
EPS (Diluted)	$92.76+86.8%	-$18.90-256.5%	$48.62+25.0%	$59.25-10.6%	$49.67+166.8%	$12.08-84.0%	$38.90-30.9%	$66.25+2009.9%
Diluted Shares (Avg)	13M-1.1%	13M-1.6%	N/A	13M-3.2%	13M-2.7%	13M-2.4%	N/A	13M-2.5%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, EBITDA.

MKL Balance Sheet

MKL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$68.9B+11.3%	$61.9B+12.4%	$55.0B+10.6%	$49.8B+2.7%	$48.5B+16.2%	$41.7B+11.3%	$37.5B+12.5%	$33.3B+1.5%	$32.8B+26.8%	$25.9B+3.8%	$24.9B-1.0%	$25.2B+5.2%	$24.0B+90.8%	$12.6B+8.9%	$11.5B
Cash & Equivalents	$4.0B+7.4%	$3.7B-1.5%	$3.7B-9.4%	$4.1B+4.0%	$4.0B-8.4%	$4.3B+41.3%	$3.1B+52.6%	$2.0B-8.4%	$2.2B+26.4%	$1.7B-33.9%	$2.6B+34.2%	$2.0B-0.9%	$2.0B+129.1%	$863.8M+22.8%	$703.3M
Short-Term Investments	$2.0B-19.5%	$2.5B-1.8%	$2.6B-3.7%	$2.7B+48.3%	$1.8B-11.5%	$2.0B+70.0%	$1.2B+11.0%	$1.1B-50.1%	$2.2B-7.5%	$2.3B+42.3%	$1.6B+3.0%	$1.6B+9.8%	$1.5B+49.2%	$973.3M+79.9%	$541.0M
Inventory	$703.4M-3.8%	$731.1M+18.5%	$617.2M-3.5%	$639.6M+20.8%	$529.3M+28.3%	$412.6M+36.1%	$303.1M+1.5%	$298.7M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$51.8M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$2.8B+3.2%	$2.7B+4.2%	$2.6B-0.5%	$2.6B-9.0%	$2.9B+11.3%	$2.6B+12.8%	$2.3B+3.2%	$2.2B+25.9%	$1.8B+55.6%	$1.1B-2.2%	$1.2B+11.3%	$1.0B+8.4%	$967.7M+43.4%	$674.9M+11.1%	$607.6M
Total Liabilities	$49.8B+12.1%	$44.4B+12.4%	$39.5B+9.6%	$36.1B+8.4%	$33.3B+16.1%	$28.6B+9.3%	$26.2B+9.1%	$24.0B+3.9%	$23.1B+33.5%	$17.3B+1.8%	$17.0B-2.9%	$17.5B+1.9%	$17.2B+100.5%	$8.6B+6.3%	$8.1B
Long-Term Debt	$4.3B-0.6%	$4.3B+14.6%	$3.8B-7.9%	$4.1B-5.9%	$4.4B+25.2%	$3.5B-1.4%	$3.5B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$18.6B+9.9%	$16.9B+12.9%	$15.0B+13.9%	$13.2B-10.6%	$14.7B+15.0%	$12.8B+15.6%	$11.1B+21.9%	$9.1B-4.5%	$9.5B+12.3%	$8.5B+8.0%	$7.8B+3.2%	$7.6B+13.8%	$6.7B+71.6%	$3.9B+14.8%	$3.4B
Retained Earnings	$15.0B+12.4%	$13.4B+17.9%	$11.4B+15.5%	$9.8B-5.9%	$10.4B+27.5%	$8.2B+9.9%	$7.5B+29.0%	$5.8B+53.1%	$3.8B+7.1%	$3.5B+12.4%	$3.1B+21.5%	$2.6B+12.5%	$2.3B+11.0%	$2.1B+12.7%	$1.8B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$71.3B+6.7%	$68.6B+6.2%	$68.9B+11.3%	$67.4B+8.2%	$66.8B+11.9%	$64.6B+12.8%	$61.9B+12.4%	$62.3B+18.1%
Cash & Equivalents	$3.4B-8.0%	$3.7B-12.2%	$4.0B+7.4%	$4.0B+4.5%	$3.7B+6.0%	$4.2B+15.6%	$3.7B-1.5%	$3.9B-11.1%
Short-Term Investments	$2.3B+23.2%	$2.0B-3.5%	$2.0B-19.5%	$2.1B-10.2%	$1.9B-32.0%	$2.1B-19.8%	$2.5B-1.8%	$2.4B+4.6%
Inventory	N/A	N/A	$703.4M-3.8%	N/A	N/A	N/A	$731.1M+18.5%	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$2.8B+0.3%	$2.8B+2.3%	$2.8B+3.2%	$2.8B+3.0%	$2.8B+3.2%	$2.8B+5.6%	$2.7B+4.2%	$2.7B+4.4%
Total Liabilities	$51.8B+5.9%	$50.0B+6.6%	$49.8B+12.1%	$48.8B+9.4%	$48.9B+13.0%	$46.9B+14.4%	$44.4B+12.4%	$44.6B+16.7%
Long-Term Debt	$4.4B+0.1%	$4.4B-0.2%	$4.3B-0.6%	$4.3B-1.6%	$4.4B-0.8%	$4.4B+13.9%	$4.3B+14.6%	$4.4B+15.6%
Total Equity	$19.0B+9.7%	$18.1B+5.7%	$18.6B+9.9%	$18.0B+6.0%	$17.3B+9.3%	$17.1B+9.0%	$16.9B+12.9%	$17.0B+21.5%
Retained Earnings	$15.6B+12.7%	$14.7B+9.7%	$15.0B+12.4%	$14.5B+11.1%	$13.8B+12.2%	$13.4B+9.7%	$13.4B+17.9%	$13.1B+21.2%

Not reported in any period shown, so not listed: Current Assets, Accounts Receivable, Current Liabilities, Non-Current Liabilities.

MKL Cash Flow Statement

MKL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$2.3B	$2.8B+6.4%	$2.6B-6.9%	$2.8B+2.9%	$2.7B+19.1%	$2.3B+30.9%	$1.7B+36.4%	$1.3B+42.7%	$892.9M+4.0%	$858.5M+60.6%	$534.6M-17.9%	$651.2M-9.2%	$716.8M-3.9%	$745.5M+89.9%	$392.5M+26.1%	$311.3M
Depreciation & Amortization	N/A	$347.9M+1.6%	$342.4M+7.1%	$319.7M+3.3%	$309.4M-8.0%	$336.4M+9.5%	$307.1M+14.1%	$269.2M+18.2%	$227.8M+11.8%	$203.9M+5.0%	$194.1M-3.4%	$201.0M-1.3%	$203.6M+7.1%	$190.1M+117.7%	$87.3M+23.7%	$70.6M
Capital Expenditures	$207.1M	$206.9M-18.9%	$255.0M-1.4%	$258.6M+1.5%	$254.7M+75.4%	$145.2M+43.4%	$101.3M-17.9%	$123.4M+15.7%	$106.6M+42.8%	$74.7M+17.2%	$63.7M-20.2%	$79.8M-2.9%	$82.1M+72.1%	$47.7M+4.8%	$45.5M-24.3%	$60.1M
Free Cash Flow	$2.1B	$2.6B+9.2%	$2.3B-7.5%	$2.5B+3.0%	$2.5B+15.3%	$2.1B+30.1%	$1.6B+42.2%	$1.2B+46.4%	$786.3M+0.3%	$783.9M+66.4%	$470.9M-17.6%	$571.4M-10.0%	$634.7M-9.0%	$697.8M+101.1%	$347.0M+38.2%	$251.2M
Investing Cash Flow	-$1.8B	-$1.2B+50.4%	-$2.4B+11.3%	-$2.7B-61.9%	-$1.7B+43.1%	-$2.9B-474.1%	-$511.7M+4.4%	-$535.2M+32.9%	-$797.2M-7.1%	-$744.5M+54.6%	-$1.6B-2682.4%	$63.4M+110.2%	-$622.2M-432.0%	$187.4M+149.7%	-$377.1M+23.2%	-$491.1M
Financing Cash Flow	-$703.8M	-$1.2B-306.2%	-$297.9M+70.2%	-$999.7M-67.9%	-$595.3M-261.0%	$369.8M-14.9%	$434.6M+20.9%	$359.3M+300.8%	-$179.0M-169.8%	$256.3M+68.6%	$152.0M+304.8%	-$74.2M-10.6%	-$67.1M-138.3%	$175.4M+23.5%	$142.0M-27.0%	$194.6M
Share Buybacks	$530.6M	$429.5M-25.0%	$572.7M+28.6%	$445.5M+53.2%	$290.8M+40.8%	$206.5M+669.7%	$26.8M-76.9%	$116.3M+115.4%	$54.0M-51.3%	$110.8M+116.7%	$51.1M+62.4%	$31.5M+20.9%	$26.1M-54.6%	$57.4M+240.1%	$16.9M-60.7%	$42.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$428.9M-15.0%	$15.9M-95.8%	$662.2M+34.1%	$1.2B+36.8%	$504.4M-12.8%	$376.2M-40.3%	$493.9M-39.9%	$890.8M-6.8%
Capital Expenditures	$44.3M-12.5%	$47.3M+16.1%	$63.1M-14.6%	$52.4M+1.0%	$50.6M-11.5%	$40.7M-43.4%	$74.0M-28.6%	$51.9M-31.4%
Free Cash Flow	$384.5M-15.3%	-$31.4M-109.3%	$599.1M+42.6%	$1.2B+39.0%	$453.8M-13.0%	$335.5M-40.0%	$420.0M-41.6%	$838.9M-4.7%
Investing Cash Flow	-$197.3M-80.4%	-$348.2M-280.6%	-$554.0M-7.7%	-$719.3M-120.6%	-$109.4M+89.0%	$192.8M+134.2%	-$514.3M+62.2%	-$326.1M+66.4%
Financing Cash Flow	-$341.9M+58.4%	-$79.5M+24.8%	-$111.5M+69.3%	-$170.8M+9.8%	-$822.0M-329.6%	-$105.8M-3.0%	-$363.6M-81.4%	-$189.5M-11.8%
Share Buybacks	$236.7M+138.3%	$133.9M-21.3%	$85.5M-53.4%	$74.4M-42.3%	$99.4M0.0%	$170.3M+5.8%	$183.6M+4.4%	$128.9M+56.4%

Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid.

MKL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MKL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	20.6%-4.5pp	25.1%+4.5pp	20.5%+21.3pp	-0.8%-26.0pp	25.2%+12.1pp	13.1%-12.9pp	26.0%+25.4pp	0.6%-3.0pp	3.6%-10.8pp	14.3%-1.7pp	16.0%+5.2pp	10.9%-0.1pp	11.0%-2.5pp	13.5%+3.0pp	10.5%
Net Margin	13.6%-5.0pp	18.5%+4.6pp	14.0%+15.8pp	-1.8%-20.7pp	18.9%+10.5pp	8.4%-10.4pp	18.8%+20.7pp	-1.9%-8.4pp	6.5%-1.6pp	8.1%-2.7pp	10.8%+4.6pp	6.3%-0.2pp	6.5%-2.0pp	8.5%+3.1pp	5.4%
Return on Equity	11.3%-4.9pp	16.2%+2.9pp	13.3%+15.0pp	-1.6%-18.1pp	16.5%+10.1pp	6.4%-9.8pp	16.2%+17.6pp	-1.4%-5.6pp	4.2%-1.2pp	5.4%-2.0pp	7.4%+3.2pp	4.2%0.0pp	4.2%-2.3pp	6.5%+2.3pp	4.2%
Return on Assets	3.1%-1.4pp	4.4%+0.8pp	3.6%+4.1pp	-0.4%-5.4pp	5.0%+3.0pp	2.0%-2.8pp	4.8%+5.2pp	-0.4%-1.6pp	1.2%-0.6pp	1.8%-0.6pp	2.3%+1.1pp	1.3%+0.1pp	1.2%-0.8pp	2.0%+0.8pp	1.2%
Debt-to-Equity	0.230.0x	0.260.0x	0.25-0.1x	0.310.0x	0.300.0x	0.270.0x	0.32-2.3x	2.65+0.2x	2.43+0.4x	2.05-0.1x	2.17-0.1x	2.31-0.3x	2.58+0.4x	2.21-0.2x	2.38
Asset Turnover	0.230.0x	0.240.0x	0.260.0x	0.230.0x	0.270.0x	0.230.0x	0.250.0x	0.210.0x	0.180.0x	0.220.0x	0.220.0x	0.200.0x	0.18-0.1x	0.240.0x	0.23
FCF Margin	16.5%+0.7pp	15.8%-1.9pp	17.7%-3.3pp	21.0%+4.5pp	16.6%-0.2pp	16.8%+4.7pp	12.1%+0.6pp	11.5%-1.4pp	12.9%+4.5pp	8.4%-2.2pp	10.6%-1.7pp	12.4%-3.8pp	16.1%+4.6pp	11.6%+2.0pp	9.6%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	38.8%+11.3pp	-7.7%-15.7pp	19.8%-0.3pp	25.7%-11.5pp	27.5%+16.4pp	8.0%-21.9pp	20.2%-16.1pp	37.1%+35.0pp
Net Margin	29.1%+12.8pp	-6.0%-9.4pp	14.4%-4.2pp	19.1%-5.4pp	16.3%+9.1pp	3.4%-19.5pp	18.6%-6.1pp	24.5%+23.2pp
Return on Equity	6.2%+2.4pp	-1.2%-1.9pp	3.1%-0.2pp	4.2%-1.2pp	3.8%+2.1pp	0.7%-5.8pp	3.3%-1.9pp	5.3%+5.0pp
Return on Assets	1.6%+0.7pp	-0.3%-0.5pp	0.8%-0.1pp	1.1%-0.3pp	1.0%+0.5pp	0.2%-1.6pp	0.9%-0.5pp	1.5%+1.4pp
Debt-to-Equity	0.230.0x	0.240.0x	0.230.0x	0.240.0x	0.250.0x	0.260.0x	0.260.0x	0.260.0x
Asset Turnover	0.060.0x	0.050.0x	0.060.0x	0.060.0x	0.060.0x	0.050.0x	0.050.0x	0.060.0x
FCF Margin	9.6%-1.7pp	-0.9%-10.3pp	14.9%+0.7pp	29.6%+6.9pp	11.3%-2.8pp	9.4%-3.1pp	14.2%-8.8pp	22.7%-3.4pp

Not reported in any period shown, so not listed: Gross Margin, Current Ratio.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Markel Corporation MKL	FY2025	$15.5B	$2.1B	13.6%	$22.3B	—
Cincinnati Finl Corp CINF	FY2025	$12.6B	$2.4B	18.9%	$26.2B	40/100
W.R Berkley WRB	FY2025	$14.7B	$1.8B	12.1%	$25.1B	52/100
Loews L	FY2025	$18.5B	$1.7B	9.0%	$22.2B	27/100
The Hartford Insurance Group Inc HIG	FY2025	$28.4B	$3.8B	13.5%	$37.1B	36/100
CNA Financial CNA	FY2025	$15.0B	$1.3B	8.5%	$13.2B	35/100

Where Markel Corporation Ranks

Frequently Asked Questions

What is Markel Corporation's annual revenue?

Markel Corporation (MKL) reported $15.5B in total revenue for fiscal year 2025. This represents a 4.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Markel Corporation's revenue growing?

Markel Corporation (MKL) revenue grew by 4.7% year-over-year, from $14.8B to $15.5B in fiscal year 2025.

Is Markel Corporation profitable?

Yes, Markel Corporation (MKL) reported a net income of $2.1B in fiscal year 2025, with a net profit margin of 13.6%.

What is Markel Corporation's EBITDA?

Markel Corporation (MKL) had EBITDA of $3.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Markel Corporation have?

As of fiscal year 2025, Markel Corporation (MKL) had $4.0B in cash and equivalents against $4.3B in long-term debt.

What is Markel Corporation's operating margin?

Markel Corporation (MKL) had an operating margin of 20.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Markel Corporation's net profit margin?

Markel Corporation (MKL) had a net profit margin of 13.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Markel Corporation's return on equity (ROE)?

Markel Corporation (MKL) has a return on equity of 11.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Markel Corporation's free cash flow?

Markel Corporation (MKL) generated $2.6B in free cash flow during fiscal year 2025. This represents a 9.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Markel Corporation's operating cash flow?

Markel Corporation (MKL) generated $2.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Markel Corporation's total assets?

Markel Corporation (MKL) had $68.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Markel Corporation's capital expenditures?

Markel Corporation (MKL) invested $206.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Markel Corporation buy back shares?

Yes, Markel Corporation (MKL) spent $429.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Markel Corporation have outstanding?

Markel Corporation (MKL) had 13M shares outstanding as of fiscal year 2025.

What is Markel Corporation's debt-to-equity ratio?

Markel Corporation (MKL) had a debt-to-equity ratio of 0.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Markel Corporation's return on assets (ROA)?

Markel Corporation (MKL) had a return on assets of 3.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Markel Corporation's P/E ratio?

Markel Corporation (MKL) trades at 9.7x earnings, its market capitalization divided by net income of $2.3B net income, trailing 12 months to June 30, 2026. The market capitalization is $22.3B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Markel Corporation's price-to-sales ratio?

Markel Corporation (MKL) trades at 1.4x sales, its market capitalization divided by revenue of $15.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $22.3B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Markel Corporation's Piotroski F-Score?

Markel Corporation (MKL) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Markel Corporation's earnings high quality?

Markel Corporation (MKL) has an earnings quality ratio of 1.31x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Markel Corporation cover its interest payments?

Markel Corporation (MKL) has an interest coverage ratio of 15.52x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.