Markel Group Inc. balance sheet
At the end of fiscal 2025, Markel Group Inc. had total assets of $68.91bn, total liabilities of $49.80bn and shareholders' equity of $18.60bn. It held $3.96bn in cash against $4.30bn of debt: net debt of $339m.
Balance sheet
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 0.9 | 0.7 | 0.7 | 0.9 | 2.0 | 2.0 | 2.6 | 1.7 | 2.2 | 2.0 | 3.1 | 4.3 | 4.0 | 4.1 | 3.7 | 3.7 | 4.0 | 3.6 |
| Inventory | — | — | — | — | — | — | — | — | — | 0.3 | 0.3 | 0.4 | 0.5 | 0.6 | 0.6 | 0.7 | 0.7 | — |
| Goodwill | 0.4 | 0.5 | 0.6 | 0.7 | 1.0 | 1.0 | 1.2 | 1.1 | 1.8 | 2.2 | 2.3 | 2.6 | 2.9 | 2.6 | 2.6 | 2.7 | 2.8 | 2.8 |
| Total assets | 10.2 | 10.8 | 11.5 | 12.6 | 24.0 | 25.2 | 24.9 | 25.9 | 32.8 | 33.3 | 37.5 | 41.7 | 48.5 | 49.8 | 55.0 | 61.9 | 68.9 | 72.1 |
| Long-term debt | — | — | — | — | — | — | — | — | — | — | 3.5 | 3.5 | 4.4 | 4.1 | 3.8 | 4.3 | 4.3 | 4.4 |
| Total debt | 1.0 | 1.0 | 1.3 | 1.5 | 2.3 | 2.3 | 2.2 | 2.6 | 3.1 | 3.0 | 3.5 | 3.5 | 4.4 | 4.1 | 3.8 | 4.3 | 4.3 | 4.4 |
| Total liabilities | 7.5 | 7.6 | 8.1 | 8.6 | 17.2 | 17.5 | 17.0 | 17.3 | 23.1 | 24.0 | 26.2 | 28.6 | 33.3 | 36.1 | 39.5 | 44.4 | 49.8 | 53.1 |
| Shareholders' equity | 2.8 | 3.2 | 3.4 | 3.9 | 6.7 | 7.6 | 7.8 | 8.5 | 9.5 | 9.1 | 11.1 | 12.8 | 14.7 | 13.2 | 15.0 | 16.9 | 18.6 | 18.5 |
| Net debt (negative = net cash) | 0.1 | 0.3 | 0.6 | 0.6 | 0.3 | 0.3 | −0.4 | 0.8 | 0.9 | 1.0 | 0.5 | −0.9 | 0.4 | −0.0 | 0.0 | 0.6 | 0.3 | 0.8 |
| Shares outstanding | — | 10m | 10m | 10m | 14m | 14m | 14m | 14m | 14m | 14m | 14m | — | — | — | — | — | — | — |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Inventory | 0.7 | — | — | — | 0.7 | — | — | — |
| Goodwill | 2.7 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 |
| Total assets | 61.9 | 64.6 | 66.8 | 67.4 | 68.9 | 68.6 | 71.3 | 72.1 |
| Long-term debt | 4.3 | 4.4 | 4.4 | 4.3 | 4.3 | 4.4 | 4.4 | 4.4 |
| Total debt | 4.3 | 4.4 | 4.4 | 4.3 | 4.3 | 4.4 | 4.4 | 4.4 |
| Total liabilities | 44.4 | 46.9 | 48.9 | 48.8 | 49.8 | 50.0 | 51.8 | 53.1 |
| Shareholders' equity | 16.9 | 17.1 | 17.3 | 18.0 | 18.6 | 18.1 | 19.0 | 18.5 |
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