Where do Markel's ratios come from?

Every ratio is computed from Markel's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Markel MKL Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	16.4%-3.5pp	19.9%+0.9pp	18.9%-2.6pp	21.6%+3.4pp	18.1%-5.7pp
Net margin	11%-2.1pp	13.1%-0.1pp	13.2%-1.2pp	14.3%+1.8pp	12.6%-5.1pp
EBITDA margin	18.3%-3.7pp	22%+0.9pp	21.1%-2.6pp	23.8%+3.3pp	20.5%-5.5pp
Free cash flow margin	13.6%-2.3pp	15.9%+0.8pp	15%+1.9pp	13.2%-1.3pp	14.4%-0.6pp
Returns
Return on equity	10.1%-1.8pp	11.9%0.0pp	11.9%-1.6pp	13.5%+2.3pp	11.2%-6.0pp
Return on assets	2.7%-0.6pp	3.2%0.0pp	3.2%-0.3pp	3.5%+0.5pp	3%-1.7pp
Return on invested capital	11.5%-1.8pp	13.3%+0.2pp	13.1%-2.1pp	15.2%+2.6pp	12.5%-4.6pp
Efficiency
Asset turnover	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Leverage
Debt-to-equity	0.2×0.0×	0.3×0.0×	0.2×0.0×	0.3×0.0×	0.3×0.0×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	0.2×-0.1×	0.3×+0.2×	0.1×-0.1×	0.2×+0.1×	0.1×-0.3×
Interest coverage	12.9×-2.6×	15.5×+1.2×	14.4×-1.5×	15.9×+3.3×	12.6×-5.6×
Valuation
Market capitalization	$24.07B-11.2%	$27.11B+12.1%	$24.18B-4.2%	$25.23B+5.7%	$23.87B+7.5%
Enterprise value	$24.77B-12.0%	$28.16B+15.3%	$24.42B-5.6%	$25.87B+7.5%	$24.07B+2.2%
Price / earnings	13.6×+0.7×	12.9×+1.2×	11.6×+0.3×	11.3×-1.7×	13×+4.9×
Price / sales	1.5×-0.2×	1.7×+0.2×	1.5×-0.1×	1.6×0.0×	1.6×+0.2×
Price / book	1.3×-0.1×	1.5×+0.1×	1.3×-0.1×	1.5×+0.1×	1.4×+0.1×
EV / EBITDA	8.4×+0.5×	7.9×+0.6×	7.3×+0.3×	7×-1.0×	8×+2.2×
EV / sales	1.5×-0.2×	1.7×+0.2×	1.5×-0.1×	1.7×0.0×	1.6×+0.1×
Free cash flow yield	9.1%-0.3pp	9.4%-0.4pp	9.8%+1.7pp	8.1%-0.7pp	8.9%-1.7pp
Earnings yield	7.4%-0.4pp	7.8%-0.8pp	8.6%-0.3pp	8.9%+1.1pp	7.7%-4.7pp

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Questions, answered.

Where do Markel's ratios come from?: Every ratio is computed from Markel's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.