Markel's primary business is property and casualty insurance. The company focuses primarily on specialty lines, ranging from areas such as executive liability to commercial equine insurance.
It is a $21.8B financial services company. Revenue shrank 8.3% over the last year, and it keeps 15¢ of every dollar of sales as profit. It trades at 9.5× earnings — around the middle of its own history.
- Website
- mklgroup.com
- Location
- Glen Allen, VA
- Employees
- 22 900
- Sector
- Financial Services
- Founded
- 1980
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation; Growth, Health, Quality and Moat lag behind.
Valuation95
- P/E vs own history36th pct · 20/25
- FCF yield9.7% · 25/25
- P/S1.3x · 25/25
- EV/EBITDA7.0x · 25/25
Growth31
- Revenue CAGR4.8% · 6/25
- Net income CAGR-3.5% · 0/25
- EPS CAGR ~5Y24.9% · 25/25
- Fwd implied growth-47.9% · 0/25
Profitability64
- ROIC13.4% · 12/25
- ROE12.4% · 12/25
- Net margin15.2% · 20/25
- Operating margin18.6% · 20/25
Health43
- Altman Zn/a · 0/25
- Current ration/a · 0/25
- Interest coverage6.9x · 18/25
- Net cash / debtNet cash · 25/25
Quality49
- Piotroski F5/9 · 15/25
- Beneish M-2.21 · 12/25
- FCF conversion93% · 22/25
- Margin stabilityσ 85.0% · 0/25
Moat43
- ROIC >12% years6/10 yrs · 13/25
- Median gross margin14.0% · 0/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst -1.9% · 5/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2024FinancialBest year on record$2.75B net income
- 2023MilestoneMarkel Corporation changed its name to Markel Group Inc
- FY2021FinancialRevenue crossed $10B$12.8B for the year
- May 1, 2017AcquisitionMarkel Corp. acquired SureTec Financial Corp., one of the largest privately owned surety companies…
- FY2016FinancialFirst recorded profitable year$456M net income
- FY2016FinancialRevenue already above $1B$5.61B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2015AcquisitionMarkel acquired Bermuda-based CATCo, a specialist investment management business
- 2005AcquisitionWith a "permanent capital" investing approach, Markel Ventures acquired AMF Bakery Systems in 2005 and continued to…
- 2000AcquisitionMarkel gained access to specialty international markets in 2000
- 1990AcquisitionMarkel completed its acquisition of Shand
- 1989AcquisitionMarkel Corp. acquired the Rhulen Agency of Monticello, New York
- 1987AcquisitionMarkel reorganized Markel Financial Holdings (Canada) and renamed it Fairfax Financial Holdings Ltd., short…
- 1986IPOThe Markel Corporation was listed on the NASDAQ exchange
- 1980FoundedThe company became an insurance carrier when Essex Insurance Company was incorporated and licensed to write…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Net cash position after subtracting debt from cash
- Interest covered 6.9× by operating earnings
Watch-outs
- Revenue shrinking 8.3% year over year
- Loss-making in 2 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago-8.3% YoY
- Profitable — makes more than it spends$2.28B TTM
- Profit growing — earnings are higher than last year+23.4% YoY
- Generates cash — cash left after running and investing$2.12B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$21.8B market cap
- Not printing shares — share count not ballooning — you keep your slice-15.1% shares over ~5y
- Proven track record — years of profitability behind it8/10 profitable years
- Financially stable — balance sheet not near distresshealth score 25/100
- Pays a dividend — returns cash to shareholdersnone
- Valuation not extreme — price not wildly above earningsP/E 9.5
Peer comparisonMarkel Group Inc. vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| MKL this company | $21.8B | 9.5 | -8.3% | 15.2% | Strained |
| BRK.A Berkshire Hathaway Inc. | $1.1T | 11.6 | +3.9% | 22.3% | Mixed |
| BRK.B Berkshire Hathaway | $1.1T | 11.6 | +0.0% | 18.0% | Strong |
| JPM JPMorgan Chase & Co. | $886.2B | 13.6 | +13.5% | 32.6% | Strained |
| V VISA Inc. | $723.9B | 31.9 | +14.4% | 50.8% | Solid |
| MA Mastercard Incorporated | $516.4B | 31.7 | +16.0% | 46.3% | Mixed |
| BAC Bank of America Corporation | $380.4B | 11.3 | +15.9% | 27.8% | Mixed |
Head-to-head: MKL vs BRK.A · MKL vs BRK.B · MKL vs JPM
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/MKL
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Deeper analysis of MKL on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $1 760.74 · market cap $21.8B.