Markel (MKL) Operating Margin (2009 - 2026)
Markel's Operating Margin came in at 38.83% for Q2 2026, up 11.30 percentage points from 27.53% a year earlier and up 46.53 percentage points from the prior quarter.
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Analysis
Markel (MKL) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Markel reported Operating Margin of 19.93%, down 2.46 percentage points year-over-year; for FY2025, it was 20.59%, down 4.47 percentage points from FY2024.
- Operating Margin carries a five-year change of +7.51 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 25.06% in FY2024 (+4.55 pp), 20.51% in FY2023 (+21.31 pp), -0.80% in FY2022 (-26.03 pp) and 25.23% in FY2021 (+12.15 pp).
- The Q2 2026 figure represents the highest quarterly Operating Margin since Q2 2020.
- Year-over-year, Operating Margin increased in four of the last eight quarters, with an average year-over-year change of -0.35 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in Q2 2023 (a gain of 87.61 percentage points), and the weakest in Q2 2022 (a drop of 95.03 percentage points).
- Business Quant data shows MKL's Operating Margin at -7.70% (Q1 2026), 19.84% (Q4 2025) and 25.67% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,073.91 Bn | -343.57 Bn | 55.86 Bn | -29.67% |
| 2 | Chubb | 125.44 Bn | 77.50 Bn | 9.13 Bn | -19.39% |
| 3 | Progressive | 120.54 Bn | 96.37 Bn | 9.04 Bn | -43.89% |
| 4 | Marsh & Mclennan Companies | 81.59 Bn | 73.34 Bn | - | 25.65% |
| 5 | Travelers Companies | 74.40 Bn | 50.64 Bn | 6.23 Bn | -25.96% |
| 6 | Manulife Financial | 72.53 Bn | 73.74 Bn | - | - |
| 7 | Metlife | 60.06 Bn | -46.42 Bn | 7.82 Bn | -53.77% |
| 8 | Aon | 58.71 Bn | 51.95 Bn | - | 21.55% |
| 9 | Arthur J. Gallagher | 58.49 Bn | 52.93 Bn | - | - |
| 10 | Markel | 21.24 Bn | -44.97 Bn | 2.83 Bn | 38.83% |
Historic Data
Download Data
Historic 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 | 2.16% |
| Jun 30, 2023 | 23.42% |
| Mar 31, 2023 | 20.69% |
| Dec 31, 2022 | 25.10% |
| Sep 30, 2022 | 2.18% |
| Jun 30, 2022 | -64.20% |
| Mar 31, 2022 | -1.54% |
| Dec 31, 2021 | 31.27% |
| Sep 30, 2021 | 8.99% |
API Access
Markel Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=MKL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "MKL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=MKL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();