Filing Flows › Markel Group (MKL) › Q2 2025
Markel Group (MKL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Markel Group (MKL) reported revenue of $4.6B for the second quarter 2025 (Q2 2025), +24% from a year earlier and +30% from the quarter before. Operating margin was 24.1%, net earnings $657M (14.3% of revenue).
Markel Group, Q2 2025: revenue $4.6B (+24% year over year), operating margin 24.1%, net earnings $657M, operating cash flow $504M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +30% | +24% |
| Operating profit | $1.1B | +292% | +170% |
| Net earnings | $657M | +440% | +145% |
| Operating cash flow | $504M | +34% | -13% |
| Free cash flow | $454M | +35% | -13% |
What changed
Revenue was $4.6B in Q2 2025, up 24% year over year and up 30% from the previous quarter.
Operating profit was $1.1B, a 24.1% margin (up 13.0 points year over year). Of the extra revenue versus a year earlier, 77% reached operating profit, above the 11% margin then. Total costs grew 6% against revenue growth of 24%. Net earnings were $0.66B, up 145% year over year. The effective tax rate was 21.5%.
Operating cash flow was $0.50B (down 13% year over year), 74% of net income including minority interests. Working capital and other items used $0.17B. Capital expenditures of $0.05B left free cash flow of $0.45B.
Questions
What was Markel Group's revenue in the second quarter 2025?
Markel Group (MKL) reported revenue of $4.6B for the second quarter 2025 (Q2 2025), +24% from a year earlier and +30% from the quarter before.
Was Markel Group profitable in the second quarter 2025?
Operating profit was $1.1B (24.1% of revenue) and net earnings $657M.
Source: Markel Group 10-Q on SEC EDGAR.