What is Markel's industrial — intangible assets?

Markel (MKL) reported industrial — intangible assets of $526.35M in Q4 2025.

What does industrial — intangible assets mean?

The net book value of non-physical assets within the industrial segment, such as patents, trademarks, customer lists, and proprietary technology. These assets represent long-term competitive advantages acquired or developed by the segment.

Markel MKL Industrial — Intangible assets

Other segment segments

Financial

$435.91M—

Consumer & Other

$355.62M—

Markel Insurance

$219.12M—

Corporate Operations

$6M—

Similar metrics at other companies

WWDIndustrial — Intangible Assets Net Excluding Goodwill

$377.42M+0.6%

WWDIndustrial — Finite Lived Intangible Assets Net

$259.82M-1.8%

WWDIndustrial — Indefinite Lived Intangible Assets Excluding Goodwill

$66.47M+5.9%

WWDIndustrial — Intangible Assets Gross Excluding Goodwill

$552.53M+6.2%

WWDIndustrial — Finite Lived Intangible Assets Gross

$392.99M+5.7%

FTVIntangibles (Net)

$2.09B-35.8%

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

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Market cap$24.44B-2.1%

Enterprise value$25.14B-1.8%

P/E13.8×+2.6×

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:IntangibleAssetsNetExcludingGoodwill.

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 industrial — intangible assets?: Markel (MKL) reported industrial — intangible assets of $526.35M in Q4 2025.
What does industrial — intangible assets mean?: The net book value of non-physical assets within the industrial segment, such as patents, trademarks, customer lists, and proprietary technology. These assets represent long-term competitive advantages acquired or developed by the segment.