MKL
Markel Corporation
NYSE: MKL · FINANCIAL SERVICES · INSURANCE - PROPERTY & CASUALTY
$1,759.21
-7.85% today
Updated 2026-04-29
Market cap
$22.01B
P/E ratio
12.72
P/S ratio
1.33x
EPS (TTM)
$138.27
Dividend yield
—
52W range
$1,740 – $2,208
Volume
0.1M
Markel Corporation (MKL) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.52B | $2.48B | $1.98B | $2.07B | $2.23B | $2.63B | $3.00B | $4.32B | $5.13B | $5.37B | $5.61B | $6.06B | $6.95B | $9.52B | $9.64B | $12.92B | $11.81B | $15.71B | $16.75B | $16.59B |
| Revenue growth (YoY) | — | -1.4% | -20.4% | +4.7% | +7.5% | +18.2% | +14.1% | +44.1% | +18.8% | +4.6% | +4.5% | +8.1% | +14.6% | +37.0% | +1.3% | +34.0% | -8.6% | +33.0% | +6.6% | -1.0% |
| Cost of revenue | $1.90B | $1.85B | $1.27B | $992.86M | $1.37B | $1.72B | $1.58B | $2.34B | $2.92B | $2.75B | $3.25B | $4.22B | $4.30B | $4.67B | $6.26B | $7.03B | $8.41B | $7.63B | $7.48B | $5.08B |
| Gross profit | $618.57M | $630.35M | $707.56M | $1.08B | $853.27M | $906.79M | $1.42B | $1.98B | $2.21B | $2.62B | $2.36B | $1.85B | $2.64B | $4.85B | $3.38B | $5.89B | $3.41B | $8.08B | $9.27B | $11.51B |
| Gross margin | 24.6% | 25.4% | 35.8% | 52.0% | 38.3% | 34.5% | 47.2% | 45.9% | 43.1% | 48.7% | 42.1% | 30.4% | 38.1% | 51.0% | 35.1% | 45.6% | 28.8% | 51.4% | 55.4% | 69.4% |
| R&D | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | — | — | — | — | $168.29M | $309.05M | $478.25M | $663.53M | $854.87M | $1.05B | $416.14M | $458.62M | $474.92M | $675.68M | — | — | — | — | — | — |
| Operating income | $553.40M | $571.96M | $-159.83M | $198.64M | $295.51M | $190.20M | $312.05M | $361.74M | $440.38M | $742.11M | $629.92M | $87.30M | $-7.86M | $2.29B | $1.00B | $3.13B | $-151.57M | $2.65B | $3.64B | $2.73B |
| Operating margin | 22.0% | 23.0% | -8.1% | 9.6% | 13.3% | 7.2% | 10.4% | 8.4% | 8.6% | 13.8% | 11.2% | 1.4% | -0.1% | 24.0% | 10.4% | 24.2% | -1.3% | 16.9% | 21.7% | 16.5% |
| EBITDA | $652.62M | $658.74M | $-80.43M | $283.78M | $422.76M | $347.02M | $492.14M | $665.81M | $761.40M | $1.06B | $953.96M | $423.62M | $374.20M | $2.73B | $1.49B | $3.65B | $353.94M | $3.16B | $4.18B | $2.94B |
| EBITDA margin | 25.9% | 26.5% | -4.1% | 13.7% | 19.0% | 13.2% | 16.4% | 15.4% | 14.8% | 19.8% | 17.0% | 7.0% | 5.4% | 28.6% | 15.4% | 28.3% | 3.0% | 20.1% | 25.0% | 17.7% |
| EBIT | $618.57M | $628.21M | $-111.62M | $252.61M | $369.17M | $276.45M | $404.81M | $475.75M | $557.82M | $860.41M | $759.82M | $219.75M | $146.36M | $2.46B | $1.18B | $3.31B | $44.50M | $2.84B | $3.84B | — |
| Interest expense | $65.17M | $56.25M | $48.21M | $53.97M | $73.66M | $86.25M | $92.76M | $114.00M | $117.44M | $118.30M | $129.90M | $132.45M | $154.21M | $171.69M | $177.58M | $183.58M | $196.06M | $185.08M | $204.30M | $205.91M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $392.50M | $405.67M | $-58.77M | $201.64M | $266.79M | $142.03M | $253.38M | $281.02M | $321.18M | $582.77M | $455.69M | $395.27M | $-128.18M | $1.79B | $816.03M | $2.42B | $-216.28M | $2.00B | $2.75B | $2.11B |
| Net income growth (YoY) | — | +3.4% | -114.5% | +443.1% | +32.3% | -46.8% | +78.4% | +10.9% | +14.3% | +81.4% | -21.8% | -13.3% | -132.4% | +1496.8% | -54.4% | +196.9% | -108.9% | +1022.9% | +37.6% | -23.3% |
| Profit margin | 15.6% | 16.3% | -3.0% | 9.7% | 12.0% | 5.4% | 8.4% | 6.5% | 6.3% | 10.9% | 8.1% | 6.5% | -1.8% | 18.8% | 8.5% | 18.8% | -1.8% | 12.7% | 16.4% | 12.7% |