Operating Income for Markel (MKL)
According to Markel's latest reported financial statements, the company's current operating income (TTM) is $2.30B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
MKL
Currently viewingOperating IncomeSwitch metric
TTM (last 4 quarters)
$2.30B
YoY change
-24.9%
5Y CAGR
+22.3%
Peak year (2024)
$3.64B
Cumulative operating income
$21.97B
Operating Income history chart for Markel (MKL) from 1985 to 2025
Operating Income history table for Markel (MKL) from 1985 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $2.73B | -24.9% | -$904.99M | ||
| 2024 | $3.64B | +37.1% | +$983.99M | ||
| 2023 | $2.65B | -1850.9% | +$2.81B | ||
| 2022 | -$151.57M | -104.8% | -$3.28B | ||
| 2021 | $3.13B | +212.8% | +$2.13B | ||
| 2020 | $1.00B | -56.2% | -$1.29B | ||
| 2019 | $2.29B | -29200.0% | +$2.29B | ||
| 2018 | -$7.86M | -109.0% | -$95.15M | ||
| 2017 | $87.30M | -86.1% | -$542.63M | ||
| 2016 | $629.92M | -15.1% | -$112.19M | ||
| 2015 | $742.11M | +68.5% | +$301.73M | ||
| 2014 | $440.38M | +21.7% | +$78.64M | ||
| 2013 | $361.74M | +15.9% | +$49.69M | ||
| 2012 | $312.05M | +64.1% | +$121.85M | ||
| 2011 | $190.20M | -35.6% | -$105.31M | ||
| 2010 | $295.51M | +48.8% | +$96.87M | ||
| 2009 | $198.64M | -224.3% | +$358.47M | ||
| 2008 | -$159.83M | -127.9% | -$731.79M | ||
| 2007 | $571.96M | +3.4% | +$18.56M | ||
| 2006 | $553.40M | +197.5% | +$367.40M | ||
| 2005 | $186.00M | -17.0% | -$38.05M | ||
| 2004 | $224.04M | +23.4% | +$42.46M | ||
| 2003 | $181.58M | +54.3% | +$63.89M | ||
| 2002 | $117.69M | -164.6% | +$299.89M | ||
| 2001 | -$182.20M | +251.7% | -$130.39M | ||
| 2000 | -$51.81M | -196.9% | -$105.25M | ||
| 1999 | $53.44M | -29.1% | -$21.95M | ||
| 1998 | $75.39M | -73.0% | -$203.41M | ||
| 1997 | $278.80M | -22.3% | -$79.90M | ||
| 1996 | $358.70M | +7.0% | +$23.60M | ||
| 1995 | $335.10M | +75.2% | +$143.80M | ||
| 1994 | $191.30M | +18.1% | +$29.30M | ||
| 1993 | $162.00M | +3.7% | +$5.80M | ||
| 1992 | $156.20M | -14.7% | -$26.90M | ||
| 1991 | $183.10M | +300.7% | +$137.40M | ||
| 1990 | $45.70M | +9.6% | +$4.00M | ||
| 1989 | $41.70M | -37.9% | -$25.40M | ||
| 1988 | $67.10M | +66.1% | +$26.70M | ||
| 1987 | $40.40M | — | +$40.40M | ||
| 1986 | $0 | — | $0 | ||
| 1985 | $0 | — | — |
Operating Income values are taken from Markel's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
Markel (MKL) most recent annual operating income stands at $2.73B (2025) – declined 24.9% year-over-year.
Markel operating income has recorded the values shown across consecutive periods, with a +22.3% compound annual growth rate over 2020–2025 (5 years).
Between 2024 and 2025, Markel operating income declined 24.9%, falling from $3.64B to $2.73B.
Across the available history, operating income reached its high of $3.64B in 2024 and its low of -$182.20M in 2001.
Markel (MKL) sits 9th of 8 Financial Services peers we track on this metric, against a peer median of $24.60B.
Markel Operating Income by Year
Markel Operating Income 2025: $2.73B
Markel operating income in 2025 was $2.73B, declined 24.9% below 2024.
Markel Operating Income 2024: $3.64B
Markel operating income in 2024 was $3.64B, surged 37.1% from 2023. This figure represents the highest annual value in the available history.
Markel Operating Income 2023: $2.65B
Markel operating income in 2023 was $2.65B, plunged 1850.9% below 2022.
Markel Operating Income 2022: -$151.57M
Markel operating income in 2022 was -$151.57M, plunged 104.8% below 2021.
Markel Operating Income 2021: $3.13B
Markel operating income in 2021 was $3.13B.
See more financial history for Markel (MKL).
Sector peers — Operating Income
Companies in the same sector as Markel, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| JPMorgan Chase (JPM) | $72.59B | Financial Services |
| Berkshire Hathaway (BRK-B) | $58.88B | Financial Services |
| Bank of America (BAC) | $37.70B | Financial Services |
| Wells Fargo (WFC) | $25.20B | Financial Services |
| Visa (V) | $23.99B | Financial Services |
| Morgan Stanley (MS) | $21.95B | Financial Services |
| Goldman Sachs (GS) | $21.85B | Financial Services |
| Mastercard (MA) | $19.40B | Financial Services |
Frequently asked questions
What is Markel's operating income?
Latest reported operating income for Markel (MKL) is $2.30B (period ending March 31, 2026).
How has Markel operating income changed year-over-year?
Markel (MKL) operating income changed -24.9% year-over-year on the latest annual filing.
What is the long-term growth rate of Markel operating income?
Markel (MKL) operating income compound annual growth rate is +22.3% over the most recent 5 years available.
When did Markel operating income hit its highest annual value?
Markel operating income reached its highest annual value of $3.64B in 2024.
What was Markel operating income in 2024?
Markel (MKL) operating income in 2024 was $3.64B.
What was Markel operating income in 2025?
Markel (MKL) operating income in 2025 was $2.73B.
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