Markel Group Inc. (MKL)

Markel Group Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	2,152	2,847	2,101	-103.36	2,446
Depreciation & Amortization	347.92	342.36	319.73	309.45	336.39
Other Adjustments	-772.66	-1,666	-1,260	1,087	-1,619
Changes in Receivables	-287.91	-158.55	-486.31	-653.26	-372.49
Changes in Reinsurance Contract Assets	-3,032	-2,971	-1,066	-1,440	-1,660
Changes in Deferred Acquisition Costs	-22.07	50.1	-1.6	-140.63	-139.61
Changes in Accounts Payable	223.88	398.36	365.38	210.81	131.56
Changes in Unearned Premiums	104.19	448.24	400.02	886.39	970.25
Changes in Claims Reserves	3,974	3,251	2,443	2,339	1,990
Changes in Other Operating Activities	73.32	52.32	-29.1	213.99	191.2
Operating Cash Flow	2,761	2,594	2,787	2,709	2,274
Operating Cash Flow Growth	6.45%	-6.92%	2.86%	19.14%	30.88%
Capital Expenditures	-206.89	-254.99	-258.62	-254.71	-145.25
Purchases of Investments	-4,272	-4,366	-5,134	-2,575	-3,470
Proceeds from Sale of Investments	2,684	2,246	2,425	1,394	908.68
Payments for Business Acquisitions	-106.21	-207.75	-3.58	-79	-517.44
Proceeds from Business Divestments	-	-	-	201.37	40.72
Other Investing Activities	711.54	184.14	267.31	-357.1	245.17
Investing Cash Flow	-1,190	-2,399	-2,704	-1,670	-2,938
Long-Term Debt Issued	882.83	1,434	624.97	1,034	1,199
Long-Term Debt Repaid	-912.28	-896.75	-949.64	-1,255	-486.73
Net Long-Term Debt Issued (Repaid)	-29.45	537.46	-324.66	-220.95	711.78
Repurchase of Common Stock	-429.52	-572.73	-445.48	-290.8	-206.52
Net Common Stock Issued (Repurchased)	-429.52	-572.73	-445.48	-290.8	-206.52
Repurchase of Preferred Stock	-600	-	-	-	-
Net Preferred Stock Issued (Repurchased)	-600	-	-	-	-
Preferred Share Dividends Paid	-18	-36	-36	-36	-36
Other Financing Activities	-133.08	-226.61	-193.57	-47.56	-99.49
Financing Cash Flow	-1,210	-297.88	-999.72	-595.31	369.77
Effect of Exchange Rate Changes on Cash and Cash Equivalents	49.77	-37.3	27.04	-103.36	-41.73
Net Cash Flow	411.05	-139.79	-889.48	340.57	-335.7
Free Cash Flow	2,554	2,339	2,528	2,455	2,129
Free Cash Flow Growth	9.21%	-7.48%	2.99%	15.31%	30.10%
FCF Margin	16.47%	15.79%	17.70%	21.02%	16.57%
Free Cash Flow Per Share	201.96	179.36	188.98	180.76	154.26
Levered Free Cash Flow	-459.8	1,314	1,366	-687.71	2,783
Unlevered Free Cash Flow	5.16	971.17	2,049	-278.13	2,217

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

SEC Filings: 10-K · 10-Q