Markel Group Inc. (MKL)
Financial Services · NYQ · US
Fundamentals
Valuation and ratings
Markel Group Inc. trades at USD1,961.25, which is 27% above the USD1,440.23 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 54 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 14.2 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Markel Group Inc.
Markel Group Inc. engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific. It operates through Markel Insurance, Industrial, Financial, and Consumer and Other segments. The company offers general and professional liability, specialty programs, workers' compensation, and marine and energy insurance; personal lines insurance, such as property coverage for homeowners; property insurance coverages, including fire, windstorm, hail, water damage, and catastrophe-exposed property risks, such as earthquake and wind; and credit and surety products. It also distributes exterior building products, such as siding, windows, doors, roofing, and gutters; invests in asset and wealth management companies; engages in the homebuilding of single-family homes, townhouses, and condominiums; designs and provides leather handbags and accessories; owns and operates manufactured housing communities; and sponsors teachers for placement. In addition, the company offers structural and architectural precast concrete; ornamental plants; industrial bakery equipment; over-the-road car-hauling equipment, such as trailers; cutter suction and auger dredges; and laminated oak and composite flooring for trailers. Further, it provides fire protection, life safety, and low-voltage solutions; heavy lift crawler cranes; erosion control and stormwater management; gas containment and transportation equipment; wall panel systems and dorm room furniture; insurance-linked securities investment and insurance management; equipment leasing; fronting and automobile collateral protection coverage; information technology consulting; data collection and pricing intelligence solutions; and concierge healthcare membership services. The company was formerly known as Markel Corporation and changed its name to Markel Group Inc. in May 2023. Markel Group Inc. was founded in 1930 and is headquartered in Glen Allen, Virginia.
Smart money ownership
5 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Christopher Davis, DAVIS SELECTED ADVISERS$733.96M · 3.4% of book
- Select Equity Group, Select Equity Group, L.P.$722.84M · 3.7% of book
- Baillie Gifford, BAILLIE GIFFORD & CO$335.09M · 0.3% of book
- Steven Check, CHECK CAPITAL MANAGEMENT INC/CA$147.17M · 4.3% of book
- Marshall Wace, MARSHALL WACE, LLP$103.17M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Markel Group Inc. (MKL) undervalued?
Against our discounted cash flow estimate of USD1,440.23, MKL at USD1,961.25 is 27% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own MKL?
5 of the institutions we track reported a position in MKL in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is MKL's P/E ratio?
MKL trades at 14.2 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for MKL, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.