Zacks Investment Research·Jun 19, 2026
Markel Group Leverages Acquisitions to Expand and Diversify GrowthMKL uses acquisitions to expand specialty insurance, diversify earnings and deploy capital into long-term value-creating businesses.
Markel Corporation(MKL)Earnings, Financials & Key Ratios
MKL•NYSE•Insurance & Managed Care
$1978.05
11.7× P/E·Price updated Jul 6, 2026
SectorFinancial ServicesIndustryProperty & Casualty InsuranceSub-IndustryReinsurers and hybrid reinsurance groups
AboutMarkel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. Its Insurance segment offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind. This segment also offers credit and surety products, and collateral protection insurance products. The company's Reinsurance segment offers transaction, healthcare, and environmental impairment liability; and specialty treaty reinsurance products comprising structured and whole turnover credit, political risk, mortgage and contract, and commercial surety reinsurance programs. Its Markel Ventures segment provides equipment used in baking systems and food processing; portable dredges; over-the-road car haulers and transportation equipment; and laminated oak and composite wood flooring, tube and tank trailers, as well as ornamental plants and residential homes, handbags, and architectural products. This segment also provides consulting, and other types of services to businesses and consumers, including distribution of exterior building products, crane rental, fire protection, and life safety services, management and technology consulting, and retail intelligence services. The company's Other segment provides healthcare, leasing and investment services, as well as operates as an insurance and investment fund manager offering a range of investment products, including insurance-linked securities, catastrophe bonds, insurance swaps, and weather derivatives; and program services. it also manages funds with third parties. Markel Corporation was founded in 1930 and is based in Glen Allen, Virginia.Show more
- Revenue$16.59B-1.0%
- Combined Ratio83.53%+6.7%
- Net Income$2.11B-23.3%
- Return on Equity11.52%-30.8%
- Medical Cost Ratio30.62%-31.4%
- Operating Margin16.47%-24.1%
- Net Margin12.7%-22.6%
- ROA3.62%-40.1%
- Equity / Assets27.72%-24.9%
MKL Price & Volume
Markel Corporation (MKL) stock price & volume — 10-year historical chart
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Underwriting Volatility Challenges Markel's Conglomerate Model
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Strained
Cash Flow:Deteriorating
Primary Risk:Underwriting volatility and social inflation
Key Thesis Takeaways
- Markel's historical 'three-engine' architecture is currently facing significant structural headwinds as evidenced by a 2026Q1 operating loss of $273.3 million and a combined ratio of 107.7%.
- While the firm has historically leveraged its Ventures segment to diversify earnings, the recent divergence between accounting profits and cash generation suggests that social inflation in casualty lines may be eroding core underwriting margins.
- Investors should monitor whether the firm can stabilize its loss ratios below the 100% threshold before the current capital allocation strategy, which included $133.9 million in buybacks despite a net loss, further strains the balance sheet.
Verdict Logic
the firm's 2026Q1 ROE of -1.1% and the decoupling of capital returns from cash generation suggest that the current underwriting volatility poses a material risk to long-term shareholder value.
MKL Growth Metrics
Markel Corporation (MKL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years11.94%
5 Years11.47%
3 Years11.98%
TTM7.74%
Profit CAGR
10 Years13.71%
5 Years20.89%
3 Years-
TTM-3.83%
EPS CAGR
10 Years15.02%
5 Years24.92%
3 Years-
TTM2.27%
Return on Capital
10 Years6.04%
5 Years9.23%
3 Years9.53%
Last Year14.89%
MKL Recent Earnings
Markel Corporation (MKL) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
Apr 28, 2026Metric
Actual
Est
EPS
$21.61-18.1%
$26.38
Rev
$2.8B-22.9%
$3.7B
Q1 2026
Feb 4, 2026Metric
Actual
Est
EPS
$34.45+24.7%
$27.62
Rev
$4.2B+15.9%
$3.6B
Q4 2025
Oct 29, 2025Metric
Actual
Est
EPS
$30.90+28.6%
$24.02
Rev
$4.4B+17.0%
$3.7B
Q3 2025
Jul 30, 2025Metric
Actual
Est
EPS
$25.46+2.0%
$24.97
Rev
$4.4B-8.6%
$4.8B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $21.61vs $26.38-18.1% | $2.8Bvs $3.7B-22.9% |
| Q1 2026 | Feb 4, 2026 | $34.45vs $27.62+24.7% | $4.2Bvs $3.6B+15.9% |
| Q4 2025 | Oct 29, 2025 | $30.90vs $24.02+28.6% | $4.4Bvs $3.7B+17.0% |
| Q3 2025 | Jul 30, 2025 | $25.46vs $24.97+2.0% | $4.4Bvs $4.8B-8.6% |
Based on last 12 quarters of dataView full earnings history →
Latest MKL News
Recent stock market news and headlines for Markel Corporation (MKL)
Zacks Investment Research·Jun 16, 2026
BRK.B vs. MKL: Which Financial Compounder Enjoys an Edge?Berkshire's diversification, cash strength and positive analyst sentiment outweigh stronger 2026 growth estimates for Markel.
Fool - Investing News·Jun 15, 2026
Markel vs. Skyward: Which Specialty Insurance Stock Is a Better Buy in 2026?One boasts global diversification and robust free cash flow, while the other pursues rapid growth in niche markets. How do their fundamentals and risks compare?
Peers Comparison
Key metrics vs top competitors for Markel Corporation (MKL)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $1978.05 | $24.75B | 11.69 | -0.96% | 12.7% | 11.52% | 2.45% | |
| $61.78 | $5.68B | 14.17 | 6.33% | 20.8% | 22% | — | |
| $257.13 | $11.88B | 24.21 | 7.17% | 13.2% | 25.03% | — | |
| $181.72 | $2.36B | 7.31 | 20.21% | 32.64% | 30.81% | — | |
| $28.80 | $1.7B | 12.58 | 3.62% | 0.89% | 1.53% | — | |
| $70.92 | $26.4B | 15.94 | 7.82% | 12.64% | 19.47% | — |
Compare MKL vs Peers
Markel Corporation (MKL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MKL SEC Filings & Documents
Markel Corporation (MKL) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Feb 26, 2026·SEC
Material company update
Feb 26, 2026·SEC
Material company update
Feb 4, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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MKL Frequently Asked Questions
Markel Corporation (MKL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is Markel Corporation growing?
Markel Corporation (MKL) saw revenue decline by 1.0% over the past year.
Is MKL profitable?
Yes, Markel Corporation (MKL) is profitable, generating $1.77B in net income for fiscal year 2025 (12.7% net margin).
Dividend & Returns
Does MKL pay dividends?
Yes, Markel Corporation (MKL) pays a dividend with a yield of 2.45%. This makes it attractive for income-focused investors.
What is MKL's return on equity?
Markel Corporation (MKL) has a return on equity (ROE) of 11.5%. This is reasonable for most industries.
Industry Metrics
What is Markel Corporation's combined ratio?
Markel Corporation (MKL) has a combined ratio of 83.5%. A ratio below 100% indicates underwriting profitability.