Markel MKL
- Market cap
- $23.2B
- PE
- 10.4×
- 10y median 13.6×
- Forward PE
- 16.2×
- 10y median 21.9×
- Price to sales
- 1.5×
- Revenue, 12 months
- $15.5B
- +3% on a year ago
- Net margin
- 14.7%
Markel trades at 10.4× trailing earnings, cheaper than 66% of the last ten years. Revenue was $15.5B over the last twelve months, up 3% on a year earlier with a 15% net margin.
Charts
Financials
| Income statement | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $3.4B+10% | $4.6B+10% | $4.5B+23% | $3.7B−11% | $3.7B+9% | $3.8B−17% | $3.5B−21% | $4B+9% | $3.9B+7% | $4B+4% | $3.6B+0% | $4B−0% | |
| $72.8M+9% | $1.1B+7% | $1.3B+77% | $410M−58% | $1.4B+1783% | $595.5M−47% | $282.5M−79% | $1.1B+170% | $1B−26% | $795.1M+34% | −$273.3M | $1.6B+41% | |
| Interest expense | $44.6M−6% | $43.9M−10% | $45.5M−8% | $52.6M+11% | $53.4M+20% | $52.8M+20% | $52.1M+15% | $53.1M+1% | $50.7M−5% | $50M−5% | $50.9M−2% | $52.4M−1% |
| Pre-tax income | $67.5M−49% | $1B+11% | $1.3B+100% | $366.1M−60% | $1.2B+1687% | $723.5M−28% | $157.8M−88% | $862.4M+136% | $978.4M−19% | $734.2M+2% | −$269.9M | $1.5B+76% |
| $14.2M−14% | $212.7M+11% | $292.6M+119% | $76.2M−60% | $259.4M+1722% | $162.1M−24% | $28.4M−90% | $185.2M+143% | $214.7M−17% | $152.1M−6% | −$65.6M | $332.9M+80% | |
| Net income | $42.6M−29% | $769.3M+11% | $1B+110% | $267.7M−62% | $905M+2025% | $549.2M−29% | $121.7M−88% | $657.1M+146% | $751.3M−17% | $576.8M+5% | −$212.3M | $1.2B+78% |
| $3.14+2% | $56.51+13% | $75.43+102% | $18.62−63% | $66.25+2010% | $41.12−27% | $12.08−84% | $49.67+167% | $59.25−11% | $46.39+13% | −$18.90 | $92.76+87% | |
| 13.3M−2% | 13.3M−2% | 13.2M−2% | 13.1M−3% | 13M−3% | 12.9M−3% | 12.8M−2% | 12.7M−3% | 12.6M−3% | 12.4M−4% | 12.6M−2% | 12.6M−1% |
EPS, diluted: Q4 FY09: quarter's net income to common over its shares, to the cent, the shares from counts implied by EPS, near the year's EPS less the nine months'. 6 periods, Q4 FY10 to Q4 FY25: quarter's net income to common over its shares, to the cent.
Diluted shares: 3 periods, Q2 FY09 to Q1 FY10: not printed by the filing, worked out from its own lines. 14 periods, Q4 FY10 to Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days. Q4 FY18: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days. Q4 FY20: the earlier year to date counted no dilution: the quarter's basic count plus the later year to date's dilution.
From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.
Estimates
Next earnings report: .
| Quarter | Revenue | Range | EPS | Range | Analysts |
|---|---|---|---|---|---|
| Q3 FY26 | $3.8B | $3.5B to $4.1B | $27.63 | $25.64 to $29.61 | 3 |
| Q4 FY26 | $3.8B | $3.7B to $3.9B | $28.11 | $27.91 to $28.31 | 3 |
| Q1 FY27 | $3.6B | $3.4B to $3.7B | $27.28 | $25.78 to $28.73 | 1 |
| Q2 FY27 | $4.1B | $3.9B to $4.2B | $32.68 | $30.89 to $34.43 | 1 |
| Q3 FY27 | $3.9B | $3.7B to $4.1B | $28.65 | $27.08 to $30.18 | 1 |
| Q4 FY27 | $3.9B | $3.8B to $4.1B | $29.52 | $27.90 to $31.10 | 1 |
| Q1 FY28 | $3.8B | $3.7B to $4B | $28.96 | $27.38 to $30.51 | 2 |
| Q2 FY28 | $4.3B | $4.1B to $4.5B | $36.27 | $34.29 to $38.21 | 2 |
Peers
Companies in Insurance - Property & Casualty nearest Markel's size, closest first.
| Company | Market cap | PE | Its 10y median PE | Fwd PE | P/S | Revenue growth | Net margin |
|---|---|---|---|---|---|---|---|
| MKLMarkel | $23.2B | 10.4× | 13.6× | 16.2× | 1.5× | +3% | 14.7% |
| LLoews | $22.9B | 13.7× | 13.7× | n/m | 1.2× | +4% | 9.0% |
| CINFCincinnati Financial | $27.1B | 8.3× | 12.7× | 19.8× | 1.9× | +20% | 23.8% |
| WRBW. R. Berkley | $27.2B | 15.1× | 15.5× | 15.3× | 1.8× | +4% | 12.9% |
| EGEverest | $15.3B | 8.4× | 12.4× | n/m | 0.9× | −5% | 11.4% |
| RNRRenaissancere | $14.7B | 6.0× | 11.5× | n/m | 1.3× | −14% | 23.8% |
| CNACNA Financial | $13.1B | 10.6× | 12.4× | n/m | 0.9× | +3% | 8.2% |
| AFGAmerican Financial | $12.5B | 13.2× | 12.8× | n/m | 1.5× | −0% | 11.5% |
| ALLAllstate | $64B | 5.1× | 11.5× | 8.8× | 0.9× | +6% | 19.0% |
| KNSLKinsale Capital | $8.3B | 14.8× | 33.3× | n/m | 4.2× | +16% | 28.5% |
| THGHanover Insurance | $8.3B | 11.4× | 14.4× | n/m | 1.2× | +6% | 11.2% |
| Peer median | $15B | 11.0× | 12.7× | 15.3× | 1.3× | +4% | 12.2% |
Investors who own it
Investors we follow who held Markel at the end of Jun 30, 2026, from their 13F filings.
- François RochonGiverny Capital2.0% of portfoliotrimmed
- Baillie GiffordBaillie Gifford0.3% of portfoliotrimmed
- Tom RussoGardner Russo & Quinn0.1% of portfoliotrimmed
More on Markel
Each number over time
- PE ratio
- Forward PE
- Price to sales ratio
- Price to book ratio
- Market cap
- Revenue
- EPS
- Profit margin
- Shares outstanding
Its groups
About
- Industry
- Insurance - Property & Casualty
- Sector
- Financial Services
Valuation data, not investment advice. Prices as of .