Markel (MKL)
Market Price (4/15/2026): $1967.0 | Market Cap: $24.3 BilSector: Financials | Industry: Property & Casualty Insurance
Markel (MKL)
Market Price (4/15/2026): $1967.0Market Cap: $24.3 BilSector: FinancialsIndustry: Property & Casualty Insurance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 10% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -28% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 2.8 Bil, FCF LTM is 2.6 Bil Stock buyback supportStock Buyback 3Y Total is 2.0 Bil Low stock price volatilityVol 12M is 18% Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Global Risk & Specialty Insurance. Themes include Private Equity, Specialty Insurance Solutions, Show more. | Weak multi-year price returns2Y Excs Rtn is -1.8%, 3Y Excs Rtn is -21% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.5% Key risksMKL key risks include [1] significant earnings volatility driven by its large, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.7%, FCF Yield is 10% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -28% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 2.8 Bil, FCF LTM is 2.6 Bil |
| Stock buyback supportStock Buyback 3Y Total is 2.0 Bil |
| Low stock price volatilityVol 12M is 18% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Global Risk & Specialty Insurance. Themes include Private Equity, Specialty Insurance Solutions, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -1.8%, 3Y Excs Rtn is -21% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.5% |
| Key risksMKL key risks include [1] significant earnings volatility driven by its large, Show more. |
Qualitative Assessment
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Markel (MKL) stock has lost about 10% since 12/31/2025 because of the following key factors:
1. Strategic portfolio simplification and reduction in gross written premiums contributed to investor caution. Markel's proactive decision in 2025 to exit its Global Reinsurance division, which represented $1.0 billion in gross premium volume, and its guidance for further reductions in 2026 underwriting gross written premiums by approximately $2.0 billion through strategic exits, while intended to improve long-term combined ratios and returns, signaled a short-term decrease in revenue growth that likely weighed on investor sentiment.
2. A softening in the broader property insurance market and increased competitive pricing presented macroeconomic headwinds. Following several years of a "hard market," early 2026 saw the insurance industry, particularly the property sector, transition to a "soft market" characterized by decelerating premium growth and a more competitive pricing environment in U.S. property and London/specialty markets. This shift indicates that profitability will increasingly rely on operational efficiency rather than rising rates, impacting the outlook for insurers like Markel.
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1. Strategic portfolio simplification and reduction in gross written premiums contributed to investor caution. Markel's proactive decision in 2025 to exit its Global Reinsurance division, which represented $1.0 billion in gross premium volume, and its guidance for further reductions in 2026 underwriting gross written premiums by approximately $2.0 billion through strategic exits, while intended to improve long-term combined ratios and returns, signaled a short-term decrease in revenue growth that likely weighed on investor sentiment.
2. A softening in the broader property insurance market and increased competitive pricing presented macroeconomic headwinds. Following several years of a "hard market," early 2026 saw the insurance industry, particularly the property sector, transition to a "soft market" characterized by decelerating premium growth and a more competitive pricing environment in U.S. property and London/specialty markets. This shift indicates that profitability will increasingly rely on operational efficiency rather than rising rates, impacting the outlook for insurers like Markel.
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Stock Movement Drivers
Fundamental Drivers
The -8.5% change in MKL stock from 12/31/2025 to 4/14/2026 was primarily driven by a -11.1% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 2149.65 | 1966.19 | -8.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,146 | 16,333 | 1.2% |
| Net Income Margin (%) | 12.9% | 12.9% | 0.2% |
| P/E Multiple | 13.0 | 11.5 | -11.1% |
| Shares Outstanding (Mil) | 13 | 12 | 1.5% |
| Cumulative Contribution | -8.5% |
Market Drivers
12/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| MKL | -8.5% | |
| Market (SPY) | -5.4% | 14.0% |
| Sector (XLF) | -5.5% | 46.4% |
Fundamental Drivers
The 2.9% change in MKL stock from 9/30/2025 to 4/14/2026 was primarily driven by a 6.3% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 1911.36 | 1966.19 | 2.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,259 | 16,333 | 0.5% |
| Net Income Margin (%) | 13.7% | 12.9% | -6.1% |
| P/E Multiple | 10.9 | 11.5 | 6.3% |
| Shares Outstanding (Mil) | 13 | 12 | 2.6% |
| Cumulative Contribution | 2.9% |
Market Drivers
9/30/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| MKL | 2.9% | |
| Market (SPY) | -2.9% | 8.9% |
| Sector (XLF) | -3.5% | 46.2% |
Fundamental Drivers
The 5.2% change in MKL stock from 3/31/2025 to 4/14/2026 was primarily driven by a 31.6% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 1869.61 | 1966.19 | 5.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,750 | 16,333 | -2.5% |
| Net Income Margin (%) | 16.4% | 12.9% | -21.3% |
| P/E Multiple | 8.8 | 11.5 | 31.6% |
| Shares Outstanding (Mil) | 13 | 12 | 4.2% |
| Cumulative Contribution | 5.2% |
Market Drivers
3/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| MKL | 5.2% | |
| Market (SPY) | 16.3% | 52.4% |
| Sector (XLF) | 5.0% | 68.1% |
Fundamental Drivers
The 53.9% change in MKL stock from 3/31/2023 to 4/14/2026 was primarily driven by a 38.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312023 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 1277.41 | 1966.19 | 53.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11,813 | 16,333 | 38.3% |
| P/S Multiple | 1.5 | 1.5 | 2.1% |
| Shares Outstanding (Mil) | 13 | 12 | 9.0% |
| Cumulative Contribution | 53.9% |
Market Drivers
3/31/2023 to 4/14/2026| Return | Correlation | |
|---|---|---|
| MKL | 53.9% | |
| Market (SPY) | 63.3% | 36.9% |
| Sector (XLF) | 68.2% | 54.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MKL Return | 19% | 7% | 8% | 22% | 25% | -10% | 86% |
| Peers Return | 37% | 25% | 4% | 27% | 14% | -0% | 157% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 81% |
Monthly Win Rates [3] | |||||||
| MKL Win Rate | 67% | 50% | 42% | 42% | 67% | 50% | |
| Peers Win Rate | 63% | 57% | 55% | 67% | 57% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MKL Max Drawdown | -9% | -13% | -10% | -2% | -4% | -13% | |
| Peers Max Drawdown | -8% | -5% | -15% | -0% | -7% | -6% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CB, WRB, ACGL, AFG, TRV. See MKL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/14/2026 (YTD)
How Low Can It Go
| Event | MKL | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -28.9% | -25.4% |
| % Gain to Breakeven | 40.6% | 34.1% |
| Time to Breakeven | 318 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -44.7% | -33.9% |
| % Gain to Breakeven | 80.7% | 51.3% |
| Time to Breakeven | 721 days | 148 days |
| 2018 Correction | ||
| % Loss | -21.7% | -19.8% |
| % Gain to Breakeven | 27.7% | 24.7% |
| Time to Breakeven | 408 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -61.3% | -56.8% |
| % Gain to Breakeven | 158.5% | 131.3% |
| Time to Breakeven | 1,593 days | 1,480 days |
Compare to CB, WRB, ACGL, AFG, TRV
In The Past
Markel's stock fell -28.9% during the 2022 Inflation Shock from a high on 3/24/2022. A -28.9% loss requires a 40.6% gain to breakeven.
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About Markel (MKL)
Markel 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.
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A smaller, specialty-focused Berkshire Hathaway, combining insurance and reinsurance with a wide array of operating companies.
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- Specialty Insurance Products: Markel underwrites a wide array of direct insurance products covering general and professional liability, property, personal lines, marine, energy, and workers' compensation.
- Specialty Reinsurance Products: The company offers specialized treaty reinsurance programs, including those for transaction, healthcare, environmental liability, credit, and political risks.
- Industrial and Consumer Goods Manufacturing & Distribution: This segment produces and distributes diverse items such as baking and food processing equipment, dredges, car haulers, wood flooring, ornamental plants, residential homes, handbags, and architectural products.
- Specialized Business & Consumer Services: Markel provides services like crane rental, fire protection and life safety, management and technology consulting, and distribution of exterior building products.
- Investment Management Services: The company manages investment funds, including those for insurance-linked securities, catastrophe bonds, insurance swaps, and weather derivatives, for itself and third parties.
- Leasing and Financial Services: Markel provides leasing services and other financial offerings, alongside certain healthcare-related services.
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Markel Corporation (MKL) primarily sells its products and services to **other companies**.
The provided company description does not list specific names of major customer companies. However, based on its diversified operations, Markel serves a broad range of business customers across its various segments:
- Other Insurance and Reinsurance Companies: Through its Reinsurance segment, Markel provides specialty treaty reinsurance products to other insurance carriers globally.
- Businesses Across Diverse Industries: Markel's Insurance segment offers a wide array of specialty insurance products, including general and professional liability, workers' compensation, marine and energy, property coverages, and credit and surety products to businesses in various sectors. Its Markel Ventures segment provides equipment and services to companies in industries such as food processing, baking, transportation (e.g., car haulers), construction (e.g., dredges, architectural products), and also offers consulting, crane rental, and fire protection services to businesses.
- Institutional Investors and Investment Funds: Markel's Other segment provides leasing and investment services, and operates as an insurance and investment fund manager, offering a range of investment products and managing funds with third parties, targeting institutional clients.
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```htmlThomas S. Gayner, Chief Executive Officer
Thomas S. Gayner serves as the Chief Executive Officer of Markel Group Inc. since January 2023. He previously held roles as Co-Chief Executive Officer from 2016-2022, President & Chief Investment Officer from 2010-2015, and Chief Investment Officer from 2001-2010 at Markel. Prior to joining Markel, Mr. Gayner worked as a Certified Public Accountant at PricewaterhouseCoopers LLP and as a Vice President at Davenport & Company LLC. In 1990, he joined Markel to establish Markel Gayner Asset Management, which provided equity investment counsel for both Markel and external clients.
Teri Gendron, Chief Financial Officer
Teri Gendron became the Chief Financial Officer of Markel Corporation on March 20, 2023. Before joining Markel, Ms. Gendron was the Chief Financial Officer of Jefferies Financial Group Inc. She also held senior finance positions at Gannett Co. and NII Holdings. Ms. Gendron began her career at KPMG.
Simon Wilson, Executive Vice President, CEO of Markel Insurance
Simon Wilson was appointed Executive Vice President of Markel Group in February 2026 and Chief Executive Officer of Markel Insurance in March 2025. In this role, he oversees the company's three primary underwriting businesses: Markel Specialty, Markel International, and Markel Global Reinsurance. Previously, Mr. Wilson served as President of Markel International, a position he held since 2021. He also served as Managing Executive of Global Strategy for Markel starting in January 2020. Before his time at Markel, Mr. Wilson led the Lloyd's Asia platform in Singapore.
Andrew Crowley, Executive Vice President, President of Markel Ventures
Andrew Crowley was appointed Executive Vice President of Markel Group and President of Markel Ventures in February 2026. He succeeded Michael R. Heaton as President of Markel Ventures. In his role, Mr. Crowley oversees Markel Group's non-insurance businesses. He previously served as Executive Vice President of Markel Ventures.
Amy McCann, Chief Administrative Officer
Amy McCann was promoted to Chief Administrative Officer of Markel Group in February 2026. She also retains her responsibilities as General Counsel for Markel Ventures, a role she has held since 2022. Ms. McCann joined Markel Group in 2019 and works closely with CEO Tom Gayner and the executive leadership team on operations and organizational matters across the company.
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Here are the key risks to Markel Corporation (MKL):
- Volatility in Investment Portfolio: Markel operates a significant investment portfolio alongside its insurance operations, and the performance of these investments can introduce substantial volatility to its short-term financial results. Fluctuations in equity and fixed-income markets can lead to declines in net investment gains, directly impacting reported operating income and overall profitability.
- Exposure to Catastrophe Losses and Underwriting Volatility: As a specialty insurer, Markel is inherently exposed to significant losses from natural catastrophes, such as wildfires. Beyond specific catastrophic events, the broader specialty insurance market is subject to cyclicality and unpredictability. Furthermore, "social inflation"—the trend of rising insurance costs due to increased litigation, broader definitions of liability, and higher jury awards, often influenced by third-party litigation funding—presents a major headwind for Markel's specialty casualty lines, impacting underwriting profitability.
- Challenges of Decentralized Operations and Markel Ventures Performance: Markel's diverse financial holding company structure, particularly its Markel Ventures segment which encompasses a variety of non-financial businesses, operates with a decentralized management approach. While fostering agility, this structure can lead to inconsistencies in management, governance, and oversight across global locations. Poor integration or underperformance within specific Markel Ventures businesses can also drag down overall company results and complicate the implementation of coordinated strategic procedures.
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The emergence of Insurtech companies represents a clear emerging threat. These technology-first insurance companies leverage artificial intelligence, big data analytics, and digital platforms to offer more efficient, personalized, and often lower-cost insurance products and services. This new business model directly competes with and threatens Markel's traditional underwriting, distribution channels, and customer acquisition strategies across various lines of its Insurance segment, particularly in personal lines, specialty programs, and even certain commercial coverages. This parallel to how Netflix disrupted Blockbuster or Uber challenged traditional taxis involves a new operational and customer engagement model fundamentally altering the competitive landscape.
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Markel Corporation operates in several distinct markets, with its primary focus on specialty insurance and reinsurance products. Its Markel Ventures and Other segments encompass a wide range of diverse businesses, for which specific addressable market sizes for all individual products are not readily available or are too niche to quantify broadly.
Specialty Insurance Segment
- The global specialty insurance market was valued at approximately USD 126.15 billion in 2026, with projections indicating growth to USD 337.89 billion by 2034. North America is a dominant region within this market, holding an estimated share of USD 49.88 billion in 2026.
- For professional liability insurance, a sub-segment of specialty insurance, the global market size is estimated at approximately USD 51.4 billion in 2026, with expectations to reach around USD 69.2 billion by 2035. North America accounts for a significant portion, with a market size of approximately USD 17.1 billion in 2024.
- The global commercial property insurance market reached USD 332.1 billion in 2025 and is projected to grow to USD 711.4 billion by 2034.
- The global workers' compensation insurance market is estimated at USD 93.4 billion by the end of 2025 and is projected to reach USD 142.051 billion by 2033. North America is a major market, expected to reach over USD 52 billion by 2025, with the U.S. alone projected to exceed USD 67 billion by 2033.
- The global marine insurance market, encompassing marine and energy specialty products, was valued at USD 36.1 billion in 2025 and is estimated to reach USD 47.0 billion by 2034. Europe held a significant market share of over 48.7% in 2025.
Reinsurance Segment
- The global reinsurance market was valued at USD 621.39 billion in 2025 and is projected to grow to USD 1403.7 billion by 2034. The U.S. reinsurance market size reached USD 149.3 billion in 2025 and is expected to grow to USD 212.5 billion by 2034.
Markel Ventures Segment
Due to the highly diverse nature of products and services within the Markel Ventures segment, ranging from industrial equipment to consumer goods and various consulting services, addressable market sizes for these individual products are null.
Other Segment
For the "Other" segment, which includes healthcare, leasing, investment services, and acting as an insurance and investment fund manager for products like insurance-linked securities and catastrophe bonds, specific addressable market sizes for these comprehensive service offerings are null.
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Markel (MKL) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:
- Geographic Expansion, particularly in the Asia-Pacific region: Markel is actively pursuing a multifaceted growth strategy that includes significant geographic expansion, with a particular emphasis on developing its presence in the Asia-Pacific region. This involves establishing operations, making key appointments, and securing licenses in countries like Australia and Malaysia to capture regional market share.
- Product Diversification and Expansion of Specialty Insurance Offerings: The company is broadening its offerings by investing in new business models, such as its direct-to-customer online channel, and launching specialized products, including InsurtechRisk+ for emerging market segments. This focus on niche insurance markets, combined with new business volume, strong retention, and targeted premium increases, is expected to drive growth in its insurance segment.
- Strategic Acquisitions and Organic Growth within Markel Ventures: The Markel Ventures segment contributes to revenue growth through both strategic acquisitions, such as Valor Environmental, and organic initiatives across its diverse portfolio of businesses. These include equipment used in baking systems, food processing, portable dredges, and consumer and building products.
- Growth in Net Investment Income: Markel's investment engine is poised for continued growth due to a favorable interest rate environment. The company benefits from higher interest income on its fixed maturity portfolio, short-term investments, and cash equivalents, which significantly contributes to its overall revenue.
- Improved Underwriting Profitability and Combined Ratio in Insurance Operations: Markel's core insurance franchise is demonstrating tangible improvements in underwriting performance, leading to a better combined ratio. This enhanced profitability in its insurance operations, driven by strategic portfolio refocusing and targeted investments, is a key factor in driving stronger earnings and revenue growth.
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Share Repurchases
- Markel repurchased $429.5 million in shares during 2025.
- Share repurchases totaled $573 million in 2024.
- In 2023, share repurchases amounted to $445 million.
Share Issuance
- Markel has not reported significant share issuances over the last 3-5 years; instead, the number of shares outstanding has consistently declined due to ongoing share repurchase programs.
Outbound Investments
- In April 2025, Markel acquired The MECO Group Limited, a specialist marine managing general agent, to enhance its marine insurance capabilities.
- In 2025, Markel made $170 million in acquisitions and purchases of noncontrolling interests in its majority-owned businesses, including adding Valor Environmental and Educational Partners International to its Markel Ventures segment.
- Markel Ventures aims to acquire profitable companies with strong management teams for long-term holding, contributing to its diversified earnings streams.
Capital Expenditures
- Capital expenditures for 2025 were $206.9 million.
- Capital expenditures were approximately $258.6 million in 2023 and $254.7 million in 2022.
- The primary focus of capital expenditures within Markel Ventures is directed towards funding strategic growth investments and projects for its operating subsidiaries.
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| 03312026 | HBAN | Huntington Bancshares | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
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| 03202026 | MKTX | MarketAxess | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -5.2% | -5.2% | -5.7% |
| 03202026 | RYAN | Ryan Specialty | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -2.7% | -2.7% | -8.5% |
| 02282023 | MKL | Markel | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 11.2% | 11.9% | -10.4% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 214.64 |
| Mkt Cap | 30.4 |
| Rev LTM | 17,814 |
| Op Inc LTM | - |
| FCF LTM | 4,770 |
| FCF 3Y Avg | 4,718 |
| CFO LTM | 4,877 |
| CFO 3Y Avg | 4,797 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.0% |
| Rev Chg 3Y Avg | 10.9% |
| Rev Chg Q | 4.1% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 21.5% |
| CFO/Rev 3Y Avg | 22.5% |
| FCF/Rev LTM | 21.5% |
| FCF/Rev 3Y Avg | 22.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 30.4 |
| P/S | 1.6 |
| P/EBIT | 8.8 |
| P/E | 12.0 |
| P/CFO | 7.2 |
| Total Yield | 9.9% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 14.3% |
| D/E | 0.1 |
| Net D/E | -0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.1% |
| 3M Rtn | 4.0% |
| 6M Rtn | 2.4% |
| 12M Rtn | 8.1% |
| 3Y Rtn | 61.2% |
| 1M Excs Rtn | -4.9% |
| 3M Excs Rtn | 1.9% |
| 6M Excs Rtn | -3.0% |
| 12M Excs Rtn | -21.9% |
| 3Y Excs Rtn | -10.4% |
Price Behavior
Price Behavior
| Market Price | $1,966.19 | |
| Market Cap ($ Bil) | 24.3 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -10.3% | |
| 50 Days | 200 Days | |
| DMA Price | $1,990.89 | $2,001.31 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -1.2% | -1.8% |
| 3M | 1YR | |
| Volatility | 15.6% | 18.1% |
| Downside Capture | 0.09 | 0.18 |
| Upside Capture | -20.66 | 37.33 |
| Correlation (SPY) | 14.9% | 31.7% |
MKL Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.50 | 0.29 | 0.17 | 0.12 | 0.56 | 0.52 |
| Up Beta | -0.16 | 0.25 | 0.49 | 0.40 | 0.68 | 0.55 |
| Down Beta | 0.22 | 0.44 | 0.19 | 0.07 | 0.57 | 0.58 |
| Up Capture | 24% | 5% | -28% | 8% | 29% | 21% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 10 | 21 | 28 | 64 | 132 | 402 |
| Down Capture | 92% | 40% | 46% | 10% | 54% | 69% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 12 | 21 | 35 | 62 | 119 | 348 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MKL | |
|---|---|---|---|---|
| MKL | 10.2% | 18.1% | 0.40 | - |
| Sector ETF (XLF) | 14.0% | 15.4% | 0.65 | 58.6% |
| Equity (SPY) | 24.2% | 12.9% | 1.49 | 33.3% |
| Gold (GLD) | 53.4% | 27.6% | 1.55 | -4.2% |
| Commodities (DBC) | 26.8% | 16.2% | 1.47 | -5.0% |
| Real Estate (VNQ) | 18.7% | 13.8% | 1.00 | 42.7% |
| Bitcoin (BTCUSD) | -6.8% | 42.9% | -0.05 | 8.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MKL | |
|---|---|---|---|---|
| MKL | 10.7% | 22.2% | 0.41 | - |
| Sector ETF (XLF) | 10.0% | 18.7% | 0.42 | 61.0% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 47.2% |
| Gold (GLD) | 22.5% | 17.8% | 1.03 | 3.1% |
| Commodities (DBC) | 11.7% | 18.8% | 0.51 | 12.5% |
| Real Estate (VNQ) | 3.9% | 18.8% | 0.11 | 40.9% |
| Bitcoin (BTCUSD) | 5.8% | 56.5% | 0.32 | 14.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MKL | |
|---|---|---|---|---|
| MKL | 8.2% | 25.1% | 0.33 | - |
| Sector ETF (XLF) | 13.1% | 22.2% | 0.54 | 69.9% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 62.1% |
| Gold (GLD) | 14.3% | 15.9% | 0.75 | 1.4% |
| Commodities (DBC) | 8.8% | 17.6% | 0.42 | 21.0% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 57.7% |
| Bitcoin (BTCUSD) | 67.7% | 66.9% | 1.07 | 13.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/4/2026 | 2.0% | 2.2% | -3.5% |
| 10/29/2025 | 6.1% | 9.4% | 13.5% |
| 2/5/2025 | 10.7% | 2.1% | 1.8% |
| 1/31/2024 | -6.8% | -3.5% | -0.2% |
| 2/1/2023 | -7.0% | -2.1% | -4.1% |
| 2/2/2022 | -2.4% | -2.4% | -2.5% |
| 2/2/2021 | 4.0% | 8.9% | 9.1% |
| SUMMARY STATS | |||
| # Positive | 4 | 4 | 3 |
| # Negative | 3 | 3 | 4 |
| Median Positive | 5.0% | 5.6% | 9.1% |
| Median Negative | -6.8% | -2.4% | -3.0% |
| Max Positive | 10.7% | 9.4% | 13.5% |
| Max Negative | -7.0% | -3.5% | -4.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 04/26/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Markel, Steven A | Direct | Sell | 12152025 | 2119.12 | 1,330 | 2,818,430 | 127,927,039 | Form | |
| 2 | Markel, Steven A | Direct | Sell | 12012025 | 2100.00 | 70 | 147,000 | 129,775,800 | Form | |
| 3 | Markel, Steven A | Direct | Sell | 12012025 | 2100.00 | 100 | 210,000 | 129,565,800 | Form | |
| 4 | Wilson, Simon | CEO, Markel Insurance | Direct | Sell | 11252025 | 2072.94 | 75 | 155,470 | 3,668,334 | Form |
| 5 | Grandis, Meade P | CAO and Controller | Trusts | Sell | 8272025 | 1983.78 | 75 | 148,784 | 545,540 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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