Markel (MKL) Operating Expenses (2009 - 2026)
Markel (MKL) posted quarterly Operating Expenses of $3.6 billion for Q2 2026, up 3.72% year-over-year from $3.5 billion in Q2 2025, and up 17.09% quarter-over-quarter from $3.1 billion in Q1 2026.
Markel (MKL) Operating Expenses (2009 - 2026) Analysis & Trends
Markel (MKL) has reported Operating Expenses for 18 consecutive years, with $3.6 billion the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Expenses rose 3.72% year-over-year to $3.6 billion; the TTM figure through Jun 2026 stood at $13.5 billion (up 3.11% YoY), while the FY2025 annual figure was $13.4 billion, up 3.77% from the prior year.
- Operating Expenses grew to $3.6 billion in Q2 2026 per MKL's latest filing, from $3.1 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $3.6 billion in Q2 2026 and bottomed at $2.6 billion in Q1 2022.
- Historically, Operating Expenses has averaged $3.2 billion across 5 years, with a median of $3.2 billion in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses gained 22.82% — and 2024, when it decreased 7.55%.
- Markel's Operating Expenses stood at $3.2 billion in 2022, then increased by 11.3% to $3.5 billion in 2023, then slipped by 7.55% to $3.2 billion in 2024, then increased by 5.53% to $3.4 billion in 2025, then gained by 5.86% to $3.6 billion in 2026.
- Business Quant data shows MKL's Operating Expenses at $3.6 billion in Q2 2026, $3.1 billion in Q1 2026, and $3.4 billion in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 134.48 Bn | 120.72 Bn | 9.13 Bn | 12.19 Bn |
| 2 | Progressive | 123.71 Bn | 118.71 Bn | 9.04 Bn | 19.40 Bn |
| 3 | Travelers Companies | 79.14 Bn | 55.39 Bn | 4.83 Bn | 9.39 Bn |
| 4 | Allstate | 67.04 Bn | 28.31 Bn | 16.28 Bn | 14.45 Bn |
| 5 | Fairfax Financial Holdings | 35.29 Bn | 35.29 Bn | - | -134.80 Mn |
| 6 | Cincinnati Financial | 26.69 Bn | 24.80 Bn | 2.39 Bn | 2.70 Bn |
| 7 | Loews | 23.25 Bn | 947.16 Mn | 2.57 Bn | 4.12 Bn |
| 8 | Markel | 23.10 Bn | 6.22 Bn | 2.83 Bn | 3.63 Bn |
| 9 | Assurant | 13.92 Bn | 11.89 Bn | 2.71 Bn | 3.08 Bn |
| 10 | Cna Financial | 13.81 Bn | 6.02 Bn | 3.44 Bn | 3.42 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 3.63 Bn |
| Mar 31, 2026 | 3.10 Bn |
| Dec 31, 2025 | 3.42 Bn |
| Sep 30, 2025 | 3.36 Bn |
| Jun 30, 2025 | 3.50 Bn |
| Mar 31, 2025 | 3.12 Bn |
| Dec 31, 2024 | 3.25 Bn |
| Sep 30, 2024 | 3.24 Bn |
| Jun 30, 2024 | 3.29 Bn |
| Mar 31, 2024 | 3.13 Bn |
| Dec 31, 2023 | 3.51 Bn |
| Sep 30, 2023 | 3.30 Bn |
| Jun 30, 2023 | 3.17 Bn |
| Mar 31, 2023 | 2.89 Bn |
| Dec 31, 2022 | 3.15 Bn |
| Sep 30, 2022 | 3.00 Bn |
| Jun 30, 2022 | 2.97 Bn |
| Mar 31, 2022 | 2.65 Bn |
| Dec 31, 2021 | 2.58 Bn |
| Sep 30, 2021 | 2.45 Bn |