MARKEL GROUP INC.

Fire, Marine & Casualty Insurance·GLEN ALLEN, VA·FY end 12/31·CIK 1096343

CEO Pay Ratio

5:1

Thomas S. Gayner

CEO Total Comp

$14.1M

Thomas S. Gayner

Median Employee

$72,765

Revenue

$15.5B

FY 2025

Net Income

$2.1B

FY 2025

Free Cash Flow

$2.6B

FY 2025

Net Margin

13.6%

Insider Net (180d)

0 buys / 0 sales

CEO Pay Accountability

CEO comp as % of net income

—

Not enough data to compute.

CEO comp as % of buybacks

—

No buyback data for the most recent fiscal year.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$15.5B	$16.6B	$15.8B	$11.7B	$12.8B
Gross Profit	—	—	—	—	—	—
Operating Income	$3.2B	$3.7B	$2.9B	-$93.0M	$3.2B
Net Income	$2.1B	$2.7B	$2.0B	-$214.1M	$2.4B
Operating CF	$2.8B	$2.6B	$2.8B	$2.7B	$2.3B
Capex	$206.9M	$255.0M	$258.6M	$254.7M	$145.2M
Free Cash Flow	$2.6B	$2.3B	$2.5B	$2.5B	$2.1B
Buybacks	$429.5M	$572.7M	$445.5M	$290.8M	$206.5M
Dividends	—	—	—	—	—	—

Gross Margin	—	—	—	—	—	—
Operating Margin	20.6%	22.3%	18.5%	-0.8%	25.2%
Net Margin	13.6%	16.5%	12.6%	-1.8%	18.9%
FCF Margin	16.5%	14.1%	16.0%	21.0%	16.6%
R&D / Revenue	—	—	—	—	—	—
Effective Tax	21.2%	21.7%	20.8%	32.0%	21.9%
Debt / Equity	0.23	0.26	0.25	0.31	0.30
Buybacks / FCF	16.8%	24.5%	17.6%	11.8%	9.7%

FY 2026

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Thomas S. GaynerChief Executive Officer	$1.1M	$9.2M	—	$3.7M	$58.0K	$14.1M
Michael R. Heatonformer Executive Vice President and Chief Operating Officer	$815.0K	$2.8M	—	$2.1M	$207.0K	$5.9M
Simon Wilsonb Executive Vice President and Chief Executive Officer, Markel Insurance	$859.9K	$1.7M	—	$2.2M	$104.7K	$4.8M
Richard R. GrinnanSenior Vice President, Chief Legal Officer and Secretary	$620.0K	$1.7M	—	$1.1M	$51.7K	$3.4M
Brian J. CostanzoChief Financial Officer	$500.0K	$1.3M	—	$850.0K	$33.9K	$2.7M