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%-1.7pp	19.9%-4.0pp	18.9%-9.4pp	21.6%+1.4pp	18.1%-5.1pp
Net margin	11%-1.6pp	13.1%-4.5pp	13.2%-6.7pp	14.3%0.0pp	12.6%-4.2pp
EBITDA margin	18.3%-2.2pp	22%-4.0pp	21.1%-9.5pp	23.8%+1.4pp	20.5%-4.9pp
Free cash flow margin	13.6%-0.8pp	15.9%+0.9pp	15%-2.6pp	13.2%-5.1pp	14.4%-4.4pp
Returns
Return on equity	10.1%-1.2pp	11.9%-5.4pp	11.9%-7.3pp	13.5%-0.6pp	11.2%-6.0pp
Return on assets	2.7%-0.4pp	3.2%-1.5pp	3.2%-2.0pp	3.5%-0.2pp	3%-1.7pp
Return on invested capital	11.5%-1.0pp	13.3%-3.8pp	13.1%-8.5pp	15.2%-0.1pp	12.5%-6.1pp
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×+0.2×	0.3×0.0×	0.1×0.0×	0.2×-0.1×	0.1×0.0×
Interest coverage	12.9×+0.3×	15.5×-2.7×	14.4×-7.4×	15.9×+0.1×	12.6×-6.8×
Valuation
Market capitalization	$24.07B+0.8%	$27.11B+22.1%	$24.18B+18.1%	$25.23B+21.9%	$23.87B+19.4%
Enterprise value	$24.77B+2.9%	$28.16B+19.5%	$24.42B+16.5%	$25.87B+19.8%	$24.07B+19.1%
Price / earnings	13.6×+0.6×	12.9×+4.8×	11.6×+4.7×	11.3×+1.5×	13×+5.1×
Price / sales	1.5×-0.1×	1.7×+0.3×	1.5×+0.2×	1.6×+0.2×	1.6×+0.3×
Price / book	1.3×-0.1×	1.5×+0.1×	1.3×+0.1×	1.5×+0.2×	1.4×+0.1×
EV / EBITDA	8.4×+0.4×	7.9×+2.1×	7.3×+2.7×	7×+0.4×	8×+2.7×
EV / sales	1.5×-0.1×	1.7×+0.2×	1.5×+0.1×	1.7×+0.2×	1.6×+0.3×
Free cash flow yield	9.1%+0.2pp	9.4%-1.1pp	9.8%-3.1pp	8.1%-4.8pp	8.9%-5.3pp
Earnings yield	7.4%-0.4pp	7.8%-4.6pp	8.6%-5.9pp	8.9%-1.3pp	7.7%-4.9pp

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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.