Markel Corporation
Markel Group Inc., through its subsidiaries, engages in the insurance business in the United States and internationally. It offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, windstorm, hail, water damage, and other property coverages comprising catastrophe-expose… Read more
Markel Corporation (MKL) - Net Assets
Latest net assets as of September 2025: $18.60 Billion USD
Based on the latest financial reports, Markel Corporation (MKL) has net assets worth $18.60 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($50.70 Billion) and total liabilities ($32.10 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $18.60 Billion |
| % of Total Assets | 36.68% |
| Annual Growth Rate | 17.33% |
| 5-Year Change | -14.79% |
| 10-Year Change | 121.03% |
| Growth Volatility | 61.08 |
Markel Corporation - Net Assets Trend (1985–2024)
This chart illustrates how Markel Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Markel Corporation (1985–2024)
The table below shows the annual net assets of Markel Corporation from 1985 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $17.47 Billion | +12.52% |
| 2023-12-31 | $15.53 Billion | -59.04% |
| 2022-12-31 | $37.90 Billion | +149.33% |
| 2021-12-31 | $15.20 Billion | -25.85% |
| 2020-12-31 | $20.50 Billion | +13.24% |
| 2019-12-31 | $18.10 Billion | +95.21% |
| 2018-12-31 | $9.27 Billion | -38.49% |
| 2017-12-31 | $15.08 Billion | -19.77% |
| 2016-12-31 | $18.79 Billion | +137.80% |
| 2015-12-31 | $7.90 Billion | +3.14% |
| 2014-12-31 | $7.66 Billion | +13.52% |
| 2013-12-31 | $6.75 Billion | +69.81% |
| 2012-12-31 | $3.98 Billion | +14.81% |
| 2011-12-31 | $3.46 Billion | +8.62% |
| 2010-12-31 | $3.19 Billion | +14.18% |
| 2009-12-31 | $2.79 Billion | +28.02% |
| 2008-12-31 | $2.18 Billion | -17.44% |
| 2007-12-31 | $2.64 Billion | +15.01% |
| 2006-12-31 | $2.30 Billion | +34.65% |
| 2005-12-31 | $1.71 Billion | +2.95% |
| 2004-12-31 | $1.66 Billion | +19.84% |
| 2003-12-31 | $1.38 Billion | +19.25% |
| 2002-12-31 | $1.16 Billion | -6.15% |
| 2001-12-31 | $1.24 Billion | +36.87% |
| 2000-12-31 | $902.37 Million | -60.55% |
| 1999-12-31 | $2.29 Billion | +25.12% |
| 1998-12-31 | $1.83 Billion | +2.88% |
| 1997-12-31 | $1.78 Billion | +19.21% |
| 1996-12-31 | $1.49 Billion | +23.41% |
| 1995-12-31 | $1.21 Billion | +13.75% |
| 1994-12-31 | $1.06 Billion | -3.40% |
| 1993-12-31 | $1.10 Billion | +67.41% |
| 1992-12-31 | $656.60 Million | -0.67% |
| 1991-12-31 | $661.00 Million | +9.04% |
| 1990-12-31 | $606.20 Million | +300.93% |
| 1989-12-31 | $151.20 Million | +22.93% |
| 1988-12-31 | $123.00 Million | +49.45% |
| 1987-12-31 | $82.30 Million | +50.73% |
| 1986-12-31 | $54.60 Million | +59.18% |
| 1985-12-31 | $34.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Markel Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 461295.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $13.38 Billion | 79.10% |
| Common Stock | $3.56 Billion | 21.05% |
| Other Comprehensive Income | $-617.08 Million | -3.65% |
| Other Components | $591.89 Million | 3.50% |
| Total Equity | $16.92 Billion | 100.00% |
Markel Corporation Competitors by Market Cap
The table below lists competitors of Markel Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
BCE Inc
NYSE:BCE
|
$24.21 Billion |
|
HEICO CORP. A DL-01
F:HC1A
|
$24.23 Billion |
|
Amrize AG
F:J0J
|
$24.26 Billion |
|
Live Nation Entertainment Inc
NYSE:LYV
|
$24.35 Billion |
|
Citizens Financial Group, Inc.
NYSE:CFG
|
$24.02 Billion |
|
Swiss Life Holding AG
PINK:SWSDF
|
$23.94 Billion |
|
A. Schulman Inc
PINK:SLMNP
|
$23.93 Billion |
|
ON Semiconductor Corporation
NASDAQ:ON
|
$23.92 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Markel Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 14,983,928,000 to 16,915,898,000, a change of 1,931,970,000 (12.9%).
- Net income of 2,747,022,000 contributed positively to equity growth.
- Dividend payments of 36,000,000 reduced retained earnings.
- Share repurchases of 572,728,000 reduced equity.
- Other comprehensive income decreased equity by 138,872,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.75 Billion | +16.24% |
| Dividends Paid | $36.00 Million | -0.21% |
| Share Repurchases | $572.73 Million | -3.39% |
| Other Comprehensive Income | $-138.87 Million | -0.82% |
| Other Changes | $-67.45 Million | -0.4% |
| Total Change | $- | 12.89% |
Book Value vs Market Value Analysis
This analysis compares Markel Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.52x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 1100.27x to 1.52x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $1.79 | $1966.73 | x |
| 1986-12-31 | $4.50 | $1966.73 | x |
| 1987-12-31 | $5.02 | $1966.73 | x |
| 1988-12-31 | $9.99 | $1966.73 | x |
| 1989-12-31 | $11.77 | $1966.73 | x |
| 1990-12-31 | $10.08 | $1966.73 | x |
| 1991-12-31 | $15.60 | $1966.73 | x |
| 1992-12-31 | $19.81 | $1966.73 | x |
| 1993-12-31 | $27.01 | $1966.73 | x |
| 1994-12-31 | $24.80 | $1966.73 | x |
| 1995-12-31 | $37.88 | $1966.73 | x |
| 1996-12-31 | $47.68 | $1966.73 | x |
| 1997-12-31 | $63.15 | $1966.73 | x |
| 1998-12-31 | $75.49 | $1966.73 | x |
| 1999-12-31 | $67.97 | $1966.73 | x |
| 2000-12-31 | $108.80 | $1966.73 | x |
| 2001-12-31 | $127.14 | $1966.73 | x |
| 2002-12-31 | $117.72 | $1966.73 | x |
| 2003-12-31 | $137.81 | $1966.73 | x |
| 2004-12-31 | $164.34 | $1966.73 | x |
| 2005-12-31 | $170.64 | $1966.73 | x |
| 2006-12-31 | $230.52 | $1966.73 | x |
| 2007-12-31 | $264.62 | $1966.73 | x |
| 2008-12-31 | $222.20 | $1966.73 | x |
| 2009-12-31 | $282.35 | $1966.73 | x |
| 2010-12-31 | $324.17 | $1966.73 | x |
| 2011-12-31 | $348.29 | $1966.73 | x |
| 2012-12-31 | $398.40 | $1966.73 | x |
| 2013-12-31 | $530.24 | $1966.73 | x |
| 2014-12-31 | $540.29 | $1966.73 | x |
| 2015-12-31 | $557.15 | $1966.73 | x |
| 2016-12-31 | $601.00 | $1966.73 | x |
| 2017-12-31 | $678.58 | $1966.73 | x |
| 2018-12-31 | $652.21 | $1966.73 | x |
| 2019-12-31 | $797.56 | $1966.73 | x |
| 2020-12-31 | $925.98 | $1966.73 | x |
| 2021-12-31 | $1066.47 | $1966.73 | x |
| 2022-12-31 | $962.12 | $1966.73 | x |
| 2023-12-31 | $1120.04 | $1966.73 | x |
| 2024-12-31 | $1297.13 | $1966.73 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Markel Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.24%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.40%
- • Asset Turnover: 0.35x
- • Equity Multiplier: 2.80x
- Recent ROE (16.24%) is above the historical average (10.84%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 13.85% | 3.98% | 0.62x | 5.62x | $250.00K |
| 1986 | 28.83% | 13.28% | 0.62x | 3.52x | $3.07 Million |
| 1987 | 27.78% | 14.74% | 0.39x | 4.80x | $3.84 Million |
| 1988 | 23.14% | 15.68% | 0.47x | 3.13x | $6.19 Million |
| 1989 | 22.26% | 14.11% | 0.50x | 3.16x | $7.60 Million |
| 1990 | 10.42% | 7.40% | 0.11x | 13.40x | $230.00K |
| 1991 | 17.31% | 6.40% | 0.30x | 9.07x | $6.08 Million |
| 1992 | 23.42% | 11.17% | 0.30x | 6.93x | $14.67 Million |
| 1993 | 15.66% | 10.05% | 0.20x | 7.81x | $8.53 Million |
| 1994 | 13.43% | 6.65% | 0.24x | 8.39x | $4.75 Million |
| 1995 | 16.17% | 10.04% | 0.26x | 6.16x | $13.16 Million |
| 1996 | 17.41% | 12.74% | 0.23x | 5.98x | $19.87 Million |
| 1997 | 14.13% | 12.03% | 0.22x | 5.24x | $14.72 Million |
| 1998 | 13.47% | 13.45% | 0.22x | 4.52x | $14.76 Million |
| 1999 | 10.59% | 7.75% | 0.21x | 6.40x | $2.27 Million |
| 2000 | -3.67% | -2.52% | 0.20x | 7.27x | $-102.83 Million |
| 2001 | -11.59% | -9.00% | 0.22x | 5.94x | $-234.23 Million |
| 2002 | 6.50% | 4.26% | 0.24x | 6.39x | $-40.59 Million |
| 2003 | 8.93% | 5.90% | 0.25x | 6.17x | $-14.75 Million |
| 2004 | 9.99% | 7.31% | 0.24x | 5.67x | $-238.30K |
| 2005 | 8.67% | 6.72% | 0.22x | 5.75x | $-22.63 Million |
| 2006 | 17.09% | 15.58% | 0.25x | 4.39x | $162.86 Million |
| 2007 | 15.36% | 16.34% | 0.25x | 3.84x | $141.55 Million |
| 2008 | -2.69% | -2.97% | 0.21x | 4.35x | $-276.83 Million |
| 2009 | 7.27% | 9.74% | 0.20x | 3.69x | $-75.80 Million |
| 2010 | 8.41% | 11.99% | 0.22x | 3.22x | $-50.36 Million |
| 2011 | 4.19% | 5.40% | 0.24x | 3.25x | $-196.73 Million |
| 2012 | 6.52% | 8.45% | 0.25x | 3.07x | $-135.48 Million |
| 2013 | 4.21% | 6.50% | 0.19x | 3.34x | $-386.34 Million |
| 2014 | 4.23% | 6.26% | 0.22x | 3.10x | $-438.30 Million |
| 2015 | 7.44% | 10.85% | 0.22x | 3.18x | $-200.64 Million |
| 2016 | 5.39% | 8.12% | 0.16x | 4.07x | $-390.40 Million |
| 2017 | 4.16% | 6.52% | 0.18x | 3.45x | $-555.15 Million |
| 2018 | -1.41% | -1.84% | 0.26x | 3.00x | $-1.04 Billion |
| 2019 | 16.17% | 18.81% | 0.25x | 3.38x | $683.38 Million |
| 2020 | 6.38% | 8.47% | 0.23x | 3.26x | $-463.95 Million |
| 2021 | 16.46% | 18.76% | 0.33x | 2.68x | $951.40 Million |
| 2022 | -1.66% | -1.83% | 0.19x | 4.86x | $-1.52 Billion |
| 2023 | 13.32% | 12.70% | 0.36x | 2.90x | $497.67 Million |
| 2024 | 16.24% | 16.40% | 0.35x | 2.80x | $1.06 Billion |
Industry Comparison
This section compares Markel Corporation's net assets metrics with peer companies in the Insurance - Property & Casualty industry.
Industry Context
- Industry: Insurance - Property & Casualty
- Average net assets among peers: $3,948,110,200
- Average return on equity (ROE) among peers: 16.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Markel Corporation (MKL) | $18.60 Billion | 13.85% | 1.73x | $24.17 Billion |
| American Coastal Insurance Corp (ACIC) | $45.29 Million | -2.04% | 3.72x | $250.00 Million |
| American Financial Group Inc (AFG) | $1.95 Billion | -0.76% | 7.91x | $8.54 Billion |
| AmTrust Financial Services Inc Pref Series A (AFSIA) | $118.83 Million | 11.87% | 3.19x | $1.69 Billion |
| Aspen Insurance Holdings Limited (AHL) | $2.39 Billion | 15.82% | 1.78x | $14.67 Million |
| American Integrity Insurance Group, Inc. (AII) | $337.02 Million | 29.56% | 2.63x | $227.08 Million |
| Assurant Inc (AIZ) | $3.37 Billion | 2.66% | 6.24x | $10.74 Billion |
| The Allstate Corporation (ALL) | $30.61 Billion | 33.59% | 2.91x | $53.61 Billion |
| Admiral Group plc (AMIGF) | $68.95 Million | 44.87% | 4.47x | $10.33 Billion |
| Ategrity Specialty Insurance Company Holdings (ASIC) | $398.81 Million | 11.81% | 1.82x | $155.46 Million |
| Bowhead Specialty Holdings Inc. (BOW) | $192.08 Million | 13.04% | 4.35x | $707.67 Million |