What is Markel's D&A?

Markel (MKL) reported D&A of $86.98M in Q4 2025.

How has Markel's D&A changed year-over-year?

Markel's D&A increased by 1.6% year-over-year, from $85.59M to $86.98M.

What is the long-term trend for Markel's D&A?

Over 4 years (2021 to 2025), Markel's D&A has grown at a 0.8% compound annual growth rate (CAGR), from $336.39M to $347.92M.

Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.

Markel MKL D&A

D&A at other companies

W.R. BerkleyWRB

-$15.47M-58.0%

RLIRLI

$2.03M+6.1%

Berkshire HathawayBRK.A

$3.51B+7.5%

Global Indemnity Group, LLC GBLI

$1.59M+10.0%

Skyward Specialty Insurance Group, Inc.SKWD

$883.75K+5.3%

Tiptree Inc.TIPT

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Other financials

Income statement

See full

Revenue$3.6B+0.1%

Operating income-$273.3M-197%

Net income-$212.3M-274%

EPS (diluted)-$18.90-256%

Balance sheet

See full

Cash & equivalents$3.7B-12.2%

Total debt$4.4B-0.2%

Total equity$18.1B+5.7%

Total assets$68.6B+6.2%

Cash flow

See full

Operating cash flow$15.9M-95.8%

CapEx$47.3M+16.1%

Free cash flow-$31.4M-109%

Valuation

See full

Market cap$24.39B-3.2%

Enterprise value$25.1B-2.9%

P/E13.8×+2.5×

P/S1.5×-0.1×

Profitability

See full

Operating margin16.4%-1.7pp

Net margin11%-1.6pp

FCF margin13.6%-0.8pp

Returns & leverage

See full

Return on equity10.1%-1.2pp

Debt / equity0.2×0.0×

Where this comes from

Reported directly by Markel in its filing.

Tagged under the XBRL concept us-gaap:DepreciationAmortizationAndAccretionNet.

The official record: Markel’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Markel's D&A?: Markel (MKL) reported D&A of $86.98M in Q4 2025.
How has Markel's D&A changed year-over-year?: Markel's D&A increased by 1.6% year-over-year, from $85.59M to $86.98M.
What is the long-term trend for Markel's D&A?: Over 4 years (2021 to 2025), Markel's D&A has grown at a 0.8% compound annual growth rate (CAGR), from $336.39M to $347.92M.
What does D&A mean?: Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.