Markel Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Year	2023	2022	2021	2020	2019	2018 - 1994
Revenue	15,804	11,675	12,846	9,735	9,526	Upgrade
Revenue Growth (YoY)	35.36%	-9.12%	31.96%	2.19%	39.25%	Upgrade
Cost of Revenue	9,853	8,994	7,151	6,284	5,022	Upgrade
Gross Profit	5,950	2,681	5,696	3,451	4,504	Upgrade
Selling, General & Admin	2,841	2,516	2,294	2,018	1,878	Upgrade
Other Operating Expenses	180.61	258.78	160.54	159.32	148.64	Upgrade
Operating Expenses	3,021	2,774	2,454	2,177	2,027	Upgrade
Operating Income	2,929	-93.34	3,242	1,274	2,477	Upgrade
Interest Expense / Income	185.08	196.06	183.58	177.58	171.69	Upgrade
Other Expense / Income	195.08	-24.91	-49.17	111.59	28.85	Upgrade
Pretax Income	2,549	-264.49	3,107	984.71	2,277	Upgrade
Income Tax	552.62	-48.21	683.96	168.68	486.35	Upgrade
Net Income	1,996	-216.28	2,423	816.03	1,790	Upgrade
Preferred Dividends	36	36	36	18.4	0	Upgrade
Net Income Common	1,960	-252.28	2,387	797.63	1,790	Upgrade
Net Income Growth	-	-	199.28%	-55.45%	-	Upgrade
Shares Outstanding (Basic)	13	13	14	14	14	Upgrade
Shares Change	-1.72%	-1.59%	-0.80%	-0.25%	-0.52%	Upgrade
EPS (Basic)	147.32	-23.72	176.79	55.67	129.25	Upgrade
EPS (Diluted)	146.98	-23.72	176.38	55.63	129.07	Upgrade
EPS Growth	-	-	217.06%	-56.90%	-	Upgrade
Free Cash Flow	2,528	2,455	2,129	1,636	1,151	Upgrade
Free Cash Flow Per Share	191.26	182.50	155.75	118.76	83.31	Upgrade
Gross Margin	37.65%	22.96%	44.34%	35.45%	47.28%	Upgrade
Operating Margin	18.53%	-0.80%	25.23%	13.09%	26.01%	Upgrade
Profit Margin	12.40%	-2.16%	18.58%	8.19%	18.80%	Upgrade
Free Cash Flow Margin	16.00%	21.02%	16.57%	16.81%	12.08%	Upgrade
Effective Tax Rate	21.68%	-	22.01%	17.13%	21.36%	Upgrade
EBITDA	2,994	298.53	3,627	1,469	2,718	Upgrade
EBITDA Margin	18.94%	2.56%	28.23%	15.09%	28.53%	Upgrade
Depreciation & Amortization	259.92	366.95	336.39	307.07	269.24	Upgrade
EBIT	2,734	-68.42	3,291	1,162	2,448	Upgrade
EBIT Margin	17.30%	-0.59%	25.62%	11.94%	25.70%	Upgrade

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).