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Markel MKL Q4 2025 Annual earnings

Reported February 4, 2026 · After market close

Revenue$4.2BBeat by $580.0MDiluted EPS$34.45Beat by $6.83
Revenue estimate$3.6B
EPS estimate$27.62

Next report

Jul 29, 2026 (In 2 weeks)
Revenue estimate$4.5B
EPS estimate$29.94

Financials

Q4 2025

Income statement

See full
Revenue$4.0B+7.6%
Operating income$795.1M+33.5%
Net income$576.8M+5.0%
EPS (diluted)$48.62+25.0%

Balance sheet

See full
Cash & equivalents$4.0B+7.4%
Total debt$5.0B-0.8%
Total equity$18.6B+9.9%
Total assets$68.9B+11.3%

Cash flow

See full
Operating cash flow$662.2M+34.1%
CapEx$63.1M-14.6%
Free cash flow$599.1M+42.6%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$27.11B+22.1%
Enterprise value$28.16B+19.5%
P/E12.9×+4.8×
P/S1.7×+0.3×

Profitability

See full
Operating margin19.9%-4.0pp
Net margin13.1%-4.5pp
FCF margin15.9%+0.9pp

Returns & leverage

See full
Return on equity11.9%-5.4pp
Debt / equity0.3×0.0×

Segments

By segment

See full
Industrial$986.9M—
Consumer and Other$256.9M—
Financial$76.2M—
Markel Insurance$5.8M—
Corporate Operations-—

Versus estimates

Revenue

Q1 2026$2.8BMiss by $836.8M
Q4 2025$4.2BBeat by $580.0M
Q3 2025$4.4BBeat by $637.3MQ2 2025$4.4BMiss by $412.7MQ1 2025$3.3BMiss by $597.8MQ4 2024$4.0BBeat by $861.9M

Diluted EPS

Q1 2026$21.61Miss by $4.77
Q4 2025$34.45Beat by $6.83
Q3 2025$30.90Beat by $6.88Q2 2025$25.46Beat by $0.49Q1 2025$25.72Beat by $8.95Q4 2024$20.51Beat by $1.51

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Questions, answered.

When did Markel report Q4 2025 earnings?
Markel (MKL) reported Q4 2025 earnings on February 4, 2026 after market close.
What were Markel's Q4 2025 revenue and EPS?
Markel reported revenue of $4.2B and diluted EPS of $34.45 for Q4 2025.
Did Markel beat estimates in Q4 2025?
Revenue beat the consensus estimate of $3.6B by $580.0M. EPS beat the consensus estimate of $27.62 by $6.83.
How did Markel's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 4.9% from $4.0B a year earlier and diluted EPS grew 68.0% from $20.51.
Where can I find Markel's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001096343-26-000008) and the 10-K periodic report (0001096343-26-000020) directly on SEC EDGAR. The filing index links above go to sec.gov.