Markel (MKL) Operating Margin (2009 - 2026)
Markel (MKL) posted quarterly Operating Margin of 38.83% for Q2 2026, up 1130.0% year-over-year from 3.16% in Q2 2025, and up 604.41% quarter-over-quarter from 7.7% in Q1 2026.
Markel (MKL) Operating Margin (2009 - 2026) Analysis & Trends
Markel (MKL) has reported Operating Margin for 18 consecutive years, with 38.83% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin rose 1130.0% year-over-year to 38.83%; the TTM figure through Jun 2026 stood at 19.93% (down 246.0% YoY), while the FY2025 annual figure was 20.59%, down 447.0% from the prior year.
- Operating Margin improved to 38.83% in Q2 2026 per MKL's latest filing, from 7.7% in the prior quarter.
- Across five years, Operating Margin topped out at 38.83% in Q2 2026 and bottomed at 64.2% in Q2 2022.
- Historically, Operating Margin has averaged 15.18% across 5 years, with a median of 20.27% in 2023.
- Annual changes were most pronounced in 2022 — Operating Margin plunged 9503 bps — and 2023, when it jumped 8761 bps.
- Markel's Operating Margin stood at 37.92% in 2022, then decreased by 4 bps to 36.3% in 2023, then plunged by 56 bps to 15.99% in 2024, then gained by 24 bps to 19.84% in 2025, then jumped by 96 bps to 38.83% in 2026.
- Business Quant data shows MKL's Operating Margin at 38.83% in Q2 2026, 7.7% in Q1 2026, and 19.84% in Q4 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 134.94 Bn | 121.18 Bn | 9.13 Bn | 11.13% |
| 2 | Progressive | 124.75 Bn | 119.75 Bn | 9.04 Bn | -43.89% |
| 3 | Travelers Companies | 79.38 Bn | 55.62 Bn | 4.83 Bn | 9.95% |
| 4 | Allstate | 68.03 Bn | 29.30 Bn | 16.28 Bn | 5.43% |
| 5 | Fairfax Financial Holdings | 35.66 Bn | 35.66 Bn | - | - |
| 6 | Cincinnati Financial | 26.77 Bn | 24.87 Bn | 2.39 Bn | 7.46% |
| 7 | Loews | 23.30 Bn | 998.54 Mn | 2.57 Bn | 16.08% |
| 8 | Markel | 23.24 Bn | 6.35 Bn | 2.83 Bn | 38.83% |
| 9 | Assurant | 14.10 Bn | 12.06 Bn | 2.71 Bn | 4.12% |
| 10 | Cna Financial | 13.90 Bn | 6.12 Bn | 3.44 Bn | 18.31% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 38.83% |
| Mar 31, 2026 | -7.70% |
| Dec 31, 2025 | 19.84% |
| Sep 30, 2025 | 25.67% |
| Jun 30, 2025 | 27.53% |
| Mar 31, 2025 | 7.96% |
| Dec 31, 2024 | 15.99% |
| Sep 30, 2024 | 37.13% |
| Jun 30, 2024 | 11.08% |
| Mar 31, 2024 | 29.91% |
| Dec 31, 2023 | 36.30% |
| Sep 30, 2023 | 5.69% |
| Jun 30, 2023 | 23.42% |
| Mar 31, 2023 | 20.69% |
| Dec 31, 2022 | 37.92% |
| Sep 30, 2022 | 3.67% |
| Jun 30, 2022 | -64.20% |
| Mar 31, 2022 | 3.54% |
| Dec 31, 2021 | 31.27% |
| Sep 30, 2021 | 8.99% |