Markel Group Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	8,716	8,432	8,295	7,588	6,503
Total Interest & Dividend Income	970.43	920.5	734.53	446.76	367.42
Gain (Loss) on Sale of Investments	1,076	1,807	1,524	-1,596	1,979
Other Revenue	5,827	5,461	5,250	5,237	3,997
Total Revenue	16,589	16,621	15,804	11,675	12,846
Revenue Growth (YoY)	-0.19%	5.17%	35.36%	-9.12%	31.96%
Policy Benefits	5,080	5,053	5,322	4,446	3,581
Policy Acquisition & Underwriting Costs	3,133	2,977	2,841	2,516	2,294
Amortization of Goodwill & Intangibles	185.01	181.47	180.61	178.78	160.54
Other Operating Expenses	4,996	4,697	4,531	4,549	3,569
Total Operating Expenses	13,394	12,908	12,875	11,689	9,605
Operating Income	3,195	3,713	2,929	-13.34	3,242
Interest Expense	-205.91	-204.3	-185.08	-196.06	-183.58
Currency Exchange Gain (Loss)	-256.23	129.44	-90.05	137.83	71.9
EBT Excluding Unusual Items	2,733	3,638	2,654	-71.57	3,130
Impairment of Goodwill	-	-	-	-80	-
Pretax Income	2,733	3,638	2,654	-151.57	3,130
Income Tax Expense	580.3	790.29	552.62	-48.21	683.96
Earnings From Continuing Ops.	2,152	2,847	2,101	-103.36	2,446
Minority Interest in Earnings	-45.4	-100.38	-105.03	-112.92	-22.73
Net Income	2,107	2,747	1,996	-216.28	2,423
Preferred Dividends & Other Adjustments	26.11	147.7	29.79	105.9	-10.87
Net Income to Common	2,081	2,599	1,966	-322.17	2,434
Net Income Growth	-23.30%	37.62%	-	-	196.94%
Shares Outstanding (Basic)	12	13	13	14	14
Shares Outstanding (Diluted)	12	13	13	14	14
Shares Change (YoY)	-5.71%	-2.52%	-1.49%	-1.59%	-0.17%
EPS (Basic)	169.74	199.69	147.32	-23.72	176.79
EPS (Diluted)	169.22	199.32	146.98	-23.72	176.38
EPS Growth	-15.10%	35.61%	-	-	217.06%
Free Cash Flow	-	2,339	2,528	2,455	2,129
Free Cash Flow Per Share	-	179.36	188.98	180.76	154.26
Operating Margin	19.26%	22.34%	18.53%	-0.11%	25.23%
Profit Margin	12.54%	15.64%	12.44%	-2.76%	18.95%
Free Cash Flow Margin	-	14.07%	16.00%	21.02%	16.57%
EBITDA	3,384	4,055	3,249	296.11	3,578
EBITDA Margin	20.40%	24.40%	20.56%	2.54%	27.85%
D&A For EBITDA	189.62	342.36	319.73	309.45	336.39
EBIT	3,195	3,713	2,929	-13.34	3,242
EBIT Margin	19.26%	22.34%	18.53%	-0.11%	25.23%
Effective Tax Rate	21.23%	21.73%	20.82%	-	21.85%
Revenue as Reported	-	16,621	15,804	11,675	12,846

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.