Markel Corporation (MKL) - Net Assets
Based on the latest financial reports, Markel Corporation (MKL) has net assets worth $18.65 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($68.60 Billion) and total liabilities ($49.95 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. Check MKL goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $18.65 Billion |
| % of Total Assets | 27.19% |
| Annual Growth Rate | 17.12% |
| 5-Year Change | 25.66% |
| 10-Year Change | 1.64% |
| Growth Volatility | 60.38 |
Markel Corporation - Net Assets Trend (1985–2025)
This chart illustrates how Markel Corporation's net assets have evolved over time, based on quarterly financial data. See MKL cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Markel Corporation (1985–2025)
The table below shows the annual net assets of Markel Corporation from 1985 to 2025. For live valuation and market cap data, see Markel Corporation stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $19.10 Billion | +9.35% |
| 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 518342.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $15.03 Billion | 80.84% |
| Common Stock | $3.67 Billion | 19.75% |
| Other Comprehensive Income | $-109.46 Million | -0.59% |
| Total Equity | $18.60 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 |
|---|---|
|
Qinghai Salt Lake Industry Co.Ltd
SHE:000792
|
$23.04 Billion |
|
Ningxia Baofeng Energy Group Co Ltd
SHG:600989
|
$23.08 Billion |
|
Dassault Systemes SE
PA:DSY
|
$23.09 Billion |
|
Grasim Industries Limited
NSE:GRASIM
|
$23.11 Billion |
|
Lundin Mining Corporation
TO:LUN
|
$22.98 Billion |
|
INTERN.CONS.AIRL.GR. ADR
F:INRA
|
$22.95 Billion |
|
Zoom Video Communications Inc
NASDAQ:ZM
|
$22.93 Billion |
|
Hana Financial
KO:086790
|
$22.93 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 2024 to 2025, total equity changed from 16,915,898,000 to 18,597,756,000, a change of 1,681,858,000 (9.9%).
- Net income of 2,107,010,000 contributed positively to equity growth.
- Dividend payments of 618,000,000 reduced retained earnings.
- Share repurchases of 429,519,000 reduced equity.
- Other comprehensive income increased equity by 507,622,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.11 Billion | +11.33% |
| Dividends Paid | $618.00 Million | -3.32% |
| Share Repurchases | $429.52 Million | -2.31% |
| Other Comprehensive Income | $507.62 Million | +2.73% |
| Other Changes | $114.75 Million | +0.62% |
| Total Change | $- | 9.94% |
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: 1.26x
- 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 1033.38x to 1.26x 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 | $1847.16 | x |
| 1986-12-31 | $4.50 | $1847.16 | x |
| 1987-12-31 | $5.02 | $1847.16 | x |
| 1988-12-31 | $9.99 | $1847.16 | x |
| 1989-12-31 | $11.77 | $1847.16 | x |
| 1990-12-31 | $10.08 | $1847.16 | x |
| 1991-12-31 | $15.60 | $1847.16 | x |
| 1992-12-31 | $19.81 | $1847.16 | x |
| 1993-12-31 | $27.01 | $1847.16 | x |
| 1994-12-31 | $24.80 | $1847.16 | x |
| 1995-12-31 | $37.88 | $1847.16 | x |
| 1996-12-31 | $47.68 | $1847.16 | x |
| 1997-12-31 | $63.15 | $1847.16 | x |
| 1998-12-31 | $75.49 | $1847.16 | x |
| 1999-12-31 | $67.97 | $1847.16 | x |
| 2000-12-31 | $108.80 | $1847.16 | x |
| 2001-12-31 | $127.14 | $1847.16 | x |
| 2002-12-31 | $117.72 | $1847.16 | x |
| 2003-12-31 | $137.81 | $1847.16 | x |
| 2004-12-31 | $164.34 | $1847.16 | x |
| 2005-12-31 | $170.64 | $1847.16 | x |
| 2006-12-31 | $230.52 | $1847.16 | x |
| 2007-12-31 | $264.62 | $1847.16 | x |
| 2008-12-31 | $222.20 | $1847.16 | x |
| 2009-12-31 | $282.35 | $1847.16 | x |
| 2010-12-31 | $324.17 | $1847.16 | x |
| 2011-12-31 | $348.29 | $1847.16 | x |
| 2012-12-31 | $398.40 | $1847.16 | x |
| 2013-12-31 | $530.24 | $1847.16 | x |
| 2014-12-31 | $540.29 | $1847.16 | x |
| 2015-12-31 | $562.09 | $1847.16 | x |
| 2016-12-31 | $1335.03 | $1847.16 | x |
| 2017-12-31 | $1076.60 | $1847.16 | x |
| 2018-12-31 | $652.21 | $1847.16 | x |
| 2019-12-31 | $1304.27 | $1847.16 | x |
| 2020-12-31 | $1483.15 | $1847.16 | x |
| 2021-12-31 | $1066.47 | $1847.16 | x |
| 2022-12-31 | $2790.97 | $1847.16 | x |
| 2023-12-31 | $1120.04 | $1847.16 | x |
| 2024-12-31 | $1297.13 | $1847.16 | x |
| 2025-12-31 | $1460.94 | $1847.16 | 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): 11.33%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.70%
- • Asset Turnover: 0.24x
- • Equity Multiplier: 3.71x
- Recent ROE (11.33%) is above the historical average (10.56%), 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 | 7.37% | 10.85% | 0.22x | 3.16x | $-207.58 Million |
| 2016 | 2.42% | 8.12% | 0.16x | 1.83x | $-1.42 Billion |
| 2017 | 2.62% | 6.52% | 0.18x | 2.18x | $-1.11 Billion |
| 2018 | -1.41% | -1.84% | 0.26x | 3.00x | $-1.04 Billion |
| 2019 | 9.89% | 18.81% | 0.25x | 2.07x | $-19.99 Million |
| 2020 | 3.98% | 8.47% | 0.23x | 2.03x | $-1.23 Billion |
| 2021 | 16.46% | 18.76% | 0.27x | 3.29x | $951.40 Million |
| 2022 | -0.57% | -1.83% | 0.19x | 1.67x | $-4.01 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 |
| 2025 | 11.33% | 12.70% | 0.24x | 3.71x | $247.23 Million |
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: $4,111,069,200
- Average return on equity (ROE) among peers: 13.83%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Markel Corporation (MKL) | $18.65 Billion | 13.85% | 2.68x | $23.01 Billion |
| American Coastal Insurance Corp (ACIC) | $87.99 Million | 11.03% | 2.56x | $505.96 Million |
| American Financial Group, Inc. (AFG) | $4.82 Billion | 17.47% | 5.77x | $10.91 Billion |
| Aspen Insurance Holdings Ltd (AHL) | $3.49 Billion | 8.04% | 1.96x | $119.39 Million |
| American Integrity Insurance Group, Inc. (AII) | $162.39 Million | 24.47% | 6.38x | $328.18 Million |
| Assurant Inc (AIZ) | $5.49 Billion | 24.81% | 5.18x | $10.94 Billion |
| The Allstate Corporation (ALL) | $17.44 Billion | 6.50% | 5.73x | $54.30 Billion |
| Ategrity Specialty Insurance Company Holdings (ASIC) | $614.86 Million | 12.04% | 1.40x | $990.91 Million |
| Bowhead Specialty Holdings Inc. (BOW) | $192.08 Million | 13.04% | 4.35x | $888.60 Million |
| Chubb Ltd (CB) | $2.24 Billion | 12.91% | 1.04x | $124.22 Billion |
| Cincinnati Financial Corporation (CINF) | $6.57 Billion | 7.99% | 1.85x | $24.98 Billion |
About Markel Corporation
Markel Group Inc. engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific. It operates through Markel Insurance, Industrial, Financial, and Consumer and Other segments. The company offers general and professional liability, specialty programs, workers' compensation, and marine and energy insurance; pers… Read more