Markel Group Ratios and Metrics

Market cap in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 19, 2026	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
Market Cap	124,643	143,798	117,313	99,072	93,964	89,380
Market Cap Growth	-11.76%	22.58%	18.41%	5.44%	5.13%	18.11%
Enterprise Value	132,853	146,478	123,397	105,096	100,222	95,098
PE Ratio	10.57	12.70	8.66	9.66	-55.54	7.00
Forward PE	16.91	19.80	18.69	15.86	17.02	17.06
PEG Ratio	-	0.40	0.40	0.40	0.40	0.40
PS Ratio	1.36	1.74	1.49	1.31	1.51	1.31
PB Ratio	1.18	1.46	1.31	1.24	1.34	1.14
P/TBV Ratio	0.34	1.46	1.33	1.27	1.36	1.16
P/FCF Ratio	8.86	10.59	9.44	7.38	7.20	7.90
P/OCF Ratio	8.20	9.80	8.51	6.69	6.53	7.40
EV/Sales Ratio	1.52	1.78	1.57	1.39	1.62	1.39
EV/EBITDA Ratio	6.74	7.78	5.73	6.09	87.28	5.00
EV/EBIT Ratio	7.87	8.63	6.26	6.75	-202.09	5.52
EV/FCF Ratio	9.44	10.79	9.93	7.82	7.68	8.41
Asset Turnover	0.24	0.24	0.25	0.27	0.24	0.28
Return on Equity (ROE)	12.12%	12.12%	17.80%	14.86%	-0.74%	17.75%
Return on Assets (ROA)	3.85%	3.85%	4.97%	4.42%	-0.13%	5.62%
Return on Invested Capital (ROIC)	3.85%	3.85%	4.97%	4.42%	-0.13%	5.62%
Return on Capital Employed (ROCE)	4.88%	4.88%	6.35%	5.59%	-0.19%	7.19%
Earnings Yield	9.46%	7.87%	11.55%	10.35%	-1.80%	14.29%
FCF Yield	11.29%	9.44%	10.59%	13.56%	13.88%	12.66%
Buyback Yield / Dilution	1.59%	1.59%	2.59%	2.39%	1.64%	1.23%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.