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Markel Group (MKL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Markel Group (MKL) Q3 2026 earnings results →
Q3 2026 Revenue up 6% year over year to $4.2B · 6¢ of every $1 of revenue kept as net profit · operating margin 9.2%
Markel Group made $4.2B in Q3 2026 (+6% Y/Y). Operating margin 9.2%, net earnings $259M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $4.2B in Q3 2026, up 6% year over year and up 3% from the previous quarter.
Operating profit was $0.38B, a 9.2% margin (down 16.4 points year over year). Operating profit fell $0.63B even though revenue rose $0.22B versus Q3 2025, so costs grew faster than sales. Total costs grew 29% against revenue growth of 6%. Net earnings were $0.26B, down 65% year over year. The effective tax rate was 22.1%.
Operating cash flow was $0.95B (down 22% year over year), 350% of net income including minority interests. Working capital and other items added $0.68B. Capital expenditures of $0.10B left free cash flow of $0.85B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $4.2B | +6% | 9.2% | $259M | $946M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $4.0B | -0.1% | 38.8% | $1.2B | $429M |
| Q1 2026 | 10-Q | Apr 28, 2026 | $3.6B | +0.1% | -7.7% | −$204M | $15.9M |
| Q4 2025 | 10-K | Feb 26, 2026 | $4.0B | +8% | 19.8% | $577M | $662M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $3.9B | +6% | 25.7% | $751M | $1.2B |
| Q2 2025 | 10-Q | Jul 30, 2025 | $4.6B | +24% | 24.1% | $657M | $504M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $3.5B | -21% | 8.0% | $122M | $376M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Markel Group
Markel Group is a holding company that owns independently operated businesses across a range of industries. The cornerstone business, Markel Insurance, provides specialized insurance products that are not typically available through the standard insurance market. This insurance business sits at the center of the Company's strategy. It generates and holds capital used to support growth and investment across Markel Group. The other majority-owned businesses operate in diverse end markets, from industrial bakery equipment to ornamental plants to precast concrete. Markel Group also owns shares in publicly traded companies, primarily within its insurance operations.
In its own words, from its 10-K, filed Feb 26, 2026.
Markel Group against its Fire, Marine & Casualty Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +3%. Operating margin: 9.2% against the peers' median 15.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MKL Markel Group | Q3 2026 | $4.2B | +6% | 9.2% |
| BRK-B Berkshire Hathaway | Q2 2026 | $101.8B | +10% | 15.5% |
| PGR Progressive | Q3 2026 | $23.2B | +3% | 14.0% |
| ALL Allstate | Q3 2026 | $17.3B | +0.5% | 15.1% |
| CB Chubb | Q3 2026 | $16.2B | +0.3% | 21.0% |
| TRV Travelers Companies | Q3 2026 | $12.4B | -0.5% | 19.1% |
| AIG American International Group | Q3 2026 | $7.4B | +17% | 15.0% |
| HIG Hartford Insurance Group | Q3 2026 | $7.2B | +4% | 21.9% |
| L Loews | Q3 2026 | $4.8B | +2% | 8.5% |
Source: Markel Group 10-Q on SEC EDGAR · CIK 1096343 · Fire, Marine & Casualty Insurance
13F: who owns MKL and who is buying
More on MKL
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results