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Side-by-side financial comparison of Automatic Data Processing (ADP) and MARKEL GROUP INC. (MKL). Click either name above to swap in a different company.
Automatic Data Processing is the larger business by last-quarter revenue ($5.9B vs $3.6B, roughly 1.7× MARKEL GROUP INC.). Automatic Data Processing runs the higher net margin — 22.9% vs 16.1%, a 6.8% gap on every dollar of revenue. On growth, Automatic Data Processing posted the faster year-over-year revenue change (7.0% vs -6.9%). Over the past eight quarters, Automatic Data Processing's revenue compounded faster (11.6% CAGR vs -10.5%).
Automatic Data Processing, Inc. (ADP) is an American multinational provider of cloud-based human resources management, payroll processing, and professional employer organization (PEO) services, headquartered in Roseland, New Jersey.
MARKEL GROUP INC.MKLEarnings & Financial Report
Markel Group Inc. is a group of companies headquartered in Richmond, Virginia, and originally founded in 1930 as an insurance company.
ADP vs MKL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.9B | $3.6B |
| Net Profit | $1.4B | $576.8M |
| Gross Margin | — | — |
| Operating Margin | — | 22.2% |
| Net Margin | 22.9% | 16.1% |
| Revenue YoY | 7.0% | -6.9% |
| Net Profit YoY | 8.4% | 5.0% |
| EPS (diluted) | $3.38 | $48.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.4B | $3.6B | ||
| Q3 25 | $5.2B | $3.9B | ||
| Q2 25 | $5.1B | $4.6B | ||
| Q1 25 | $5.6B | $3.4B | ||
| Q4 24 | $5.0B | $3.8B | ||
| Q3 24 | $4.8B | $4.6B | ||
| Q2 24 | $4.8B | $3.7B |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.1B | $576.8M | ||
| Q3 25 | $1.0B | $751.3M | ||
| Q2 25 | $910.7M | $657.1M | ||
| Q1 25 | $1.2B | $121.7M | ||
| Q4 24 | $963.2M | $549.2M | ||
| Q3 24 | $956.3M | $905.0M | ||
| Q2 24 | $829.3M | $267.7M |
| Q1 26 | — | — | ||
| Q4 25 | 46.1% | — | ||
| Q3 25 | 45.2% | — | ||
| Q2 25 | 45.1% | — | ||
| Q1 25 | 47.7% | — | ||
| Q4 24 | 45.7% | — | ||
| Q3 24 | 45.5% | — | ||
| Q2 24 | 44.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 25.8% | 22.2% | ||
| Q3 25 | 25.3% | 25.7% | ||
| Q2 25 | 23.2% | 24.1% | ||
| Q1 25 | 29.2% | 8.3% | ||
| Q4 24 | 25.0% | 15.5% | ||
| Q3 24 | 25.6% | 29.7% | ||
| Q2 24 | 22.8% | 11.1% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 19.8% | 16.1% | ||
| Q3 25 | 19.6% | 19.1% | ||
| Q2 25 | 17.8% | 14.3% | ||
| Q1 25 | 22.5% | 3.6% | ||
| Q4 24 | 19.1% | 14.3% | ||
| Q3 24 | 19.8% | 19.6% | ||
| Q2 24 | 17.4% | 7.2% |
| Q1 26 | $3.38 | — | ||
| Q4 25 | $2.62 | $48.22 | ||
| Q3 25 | $2.49 | $59.25 | ||
| Q2 25 | $2.23 | $49.67 | ||
| Q1 25 | $3.06 | $12.08 | ||
| Q4 24 | $2.35 | $39.02 | ||
| Q3 24 | $2.34 | $66.25 | ||
| Q2 24 | $2.01 | $18.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.2B | $4.0B |
| Total DebtLower is stronger | $4.0B | $4.3B |
| Stockholders' EquityBook value | $6.4B | $18.6B |
| Total Assets | $64.5B | $68.9B |
| Debt / EquityLower = less leverage | 0.63× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.2B | — | ||
| Q4 25 | $2.5B | $4.0B | ||
| Q3 25 | $7.9B | $4.0B | ||
| Q2 25 | $7.8B | $3.7B | ||
| Q1 25 | $2.7B | $4.2B | ||
| Q4 24 | $2.2B | $3.7B | ||
| Q3 24 | $7.3B | $3.9B | ||
| Q2 24 | $3.3B | $3.5B |
| Q1 26 | $4.0B | — | ||
| Q4 25 | — | $4.3B | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $4.4B |
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.4B | $18.6B | ||
| Q3 25 | $6.4B | $18.0B | ||
| Q2 25 | $6.2B | $17.3B | ||
| Q1 25 | $5.9B | $17.1B | ||
| Q4 24 | $5.1B | $16.9B | ||
| Q3 24 | $5.3B | $17.0B | ||
| Q2 24 | $4.5B | $15.9B |
| Q1 26 | $64.5B | — | ||
| Q4 25 | $84.6B | $68.9B | ||
| Q3 25 | $54.3B | $67.4B | ||
| Q2 25 | $53.4B | $66.8B | ||
| Q1 25 | $56.4B | $64.6B | ||
| Q4 24 | $64.1B | $61.9B | ||
| Q3 24 | $49.5B | $62.3B | ||
| Q2 24 | $54.4B | $59.7B |
| Q1 26 | 0.63× | — | ||
| Q4 25 | — | 0.23× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.28× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $662.2M |
| Free Cash FlowOCF − Capex | — | $599.1M |
| FCF MarginFCF / Revenue | — | 16.7% |
| Capex IntensityCapex / Revenue | 2.1% | 1.8% |
| Cash ConversionOCF / Net Profit | — | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $662.2M | ||
| Q3 25 | $642.3M | $1.2B | ||
| Q2 25 | $1.4B | $504.4M | ||
| Q1 25 | $1.5B | $376.2M | ||
| Q4 24 | $1.2B | $493.9M | ||
| Q3 24 | $824.4M | $890.8M | ||
| Q2 24 | $1.3B | $578.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $599.1M | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $453.8M | ||
| Q1 25 | — | $335.5M | ||
| Q4 24 | — | $420.0M | ||
| Q3 24 | — | $838.9M | ||
| Q2 24 | — | $521.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 16.7% | ||
| Q3 25 | — | 29.6% | ||
| Q2 25 | — | 9.9% | ||
| Q1 25 | — | 9.9% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | — | 18.2% | ||
| Q2 24 | — | 14.1% |
| Q1 26 | 2.1% | — | ||
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.5% |
| Q1 26 | — | — | ||
| Q4 25 | 1.07× | 1.15× | ||
| Q3 25 | 0.63× | 1.62× | ||
| Q2 25 | 1.58× | 0.77× | ||
| Q1 25 | 1.22× | 3.09× | ||
| Q4 24 | 1.19× | 0.90× | ||
| Q3 24 | 0.86× | 0.98× | ||
| Q2 24 | 1.57× | 2.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADP
| Revenues, other than interest on funds held for clients and PEO revenues | $3.6B | 61% |
| PEO revenues (A) (B) (C) | $1.9B | 32% |
| Other | $403.9M | 7% |
MKL
| Industrial | $1.6B | 45% |
| Consumer And Other | $958.3M | 27% |
| Financial | $737.0M | 21% |
| Other | $198.8M | 6% |
| Corporate Operations | $52.0M | 1% |
| Revenue From Contract With Customer | $10.5M | 0% |
