Markel Group Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $2.11B | $2.75B | $2.00B | $-216.3M | $2.42B | $816.0M | $1.79B | $-128.2M |
| Depreciation & Amortization | $347.9M | $342.4M | $319.7M | $309.4M | $336.4M | $307.1M | $269.2M | $227.8M |
| Depreciation | — | — | — | — | — | — | — | $80.9M |
| Amortization | $185.0M | $181.5M | $180.6M | $178.8M | $160.5M | $159.3M | $148.6M | $115.9M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $2.76B | $2.59B | $2.79B | $2.71B | $2.27B | $1.74B | $1.27B | $892.9M |
| Investing Activities | ||||||||
| Capital Expenditures | $206.9M | $255.0M | $258.6M | $254.7M | $145.2M | $101.3M | $123.4M | $106.6M |
| Business Acquisitions | $106.2M | $207.8M | $3.6M | $79.0M | $517.4M | $554.1M | $245.3M | $1.18B |
| Net Cash from Investing Activities | $-1.19B | $-2.40B | $-2.70B | $-1.67B | $-2.94B | $-511.7M | $-535.2M | $-797.2M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $429.5M | $572.7M | $445.5M | $290.8M | $206.5M | $26.8M | $116.3M | $54.0M |
| Net Cash from Financing Activities | $-1.21B | $-297.9M | $-999.7M | $-595.3M | $369.8M | $434.6M | $359.3M | $-179.0M |
| Net Change in Cash | $411.1M | $-139.8M | $-889.5M | $340.6M | $-335.7M | $1.72B | $1.10B | $-104.4M |
| Free Cash Flow | $2.55B | $2.34B | $2.53B | $2.45B | $2.13B | $1.64B | $1.15B | $786.3M |