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Side-by-side financial comparison of Ecolab (ECL) and MARKEL GROUP INC. (MKL). Click either name above to swap in a different company.
Ecolab is the larger business by last-quarter revenue ($4.1B vs $3.6B, roughly 1.1× MARKEL GROUP INC.). MARKEL GROUP INC. runs the higher net margin — 16.1% vs 10.6%, a 5.5% gap on every dollar of revenue. On growth, Ecolab posted the faster year-over-year revenue change (10.0% vs -6.9%). Over the past eight quarters, Ecolab's revenue compounded faster (1.0% CAGR vs -10.5%).
Ecolab Inc., headquartered in Saint Paul, Minnesota, provides products related to water treatment, sanitation, and hygiene, primarily to commercial and industrial customers.
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.
ECL vs MKL — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1B | $3.6B |
| Net Profit | $432.6M | $576.8M |
| Gross Margin | — | — |
| Operating Margin | 15.3% | 22.2% |
| Net Margin | 10.6% | 16.1% |
| Revenue YoY | 10.0% | -6.9% |
| Net Profit YoY | 1.3% | 5.0% |
| EPS (diluted) | $1.52 | $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.
| Q2 26 | $4.1B | — | ||
| Q4 25 | $4.2B | $3.6B | ||
| Q3 25 | $4.2B | $3.9B | ||
| Q2 25 | $4.0B | $4.6B | ||
| Q1 25 | $3.7B | $3.4B | ||
| Q4 24 | $4.0B | $3.8B | ||
| Q3 24 | $4.0B | $4.6B | ||
| Q2 24 | $4.0B | $3.7B |
| Q2 26 | $432.6M | — | ||
| Q4 25 | $563.9M | $576.8M | ||
| Q3 25 | $585.0M | $751.3M | ||
| Q2 25 | $524.2M | $657.1M | ||
| Q1 25 | $402.5M | $121.7M | ||
| Q4 24 | $472.9M | $549.2M | ||
| Q3 24 | $736.5M | $905.0M | ||
| Q2 24 | $490.9M | $267.7M |
| Q2 26 | — | — | ||
| Q4 25 | 44.0% | — | ||
| Q3 25 | 44.8% | — | ||
| Q2 25 | 44.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 43.3% | — | ||
| Q3 24 | 43.4% | — | ||
| Q2 24 | 43.8% | — |
| Q2 26 | 15.3% | — | ||
| Q4 25 | 17.0% | 22.2% | ||
| Q3 25 | 18.3% | 25.7% | ||
| Q2 25 | 17.6% | 24.1% | ||
| Q1 25 | 15.0% | 8.3% | ||
| Q4 24 | 14.6% | 15.5% | ||
| Q3 24 | 26.1% | 29.7% | ||
| Q2 24 | 16.5% | 11.1% |
| Q2 26 | 10.6% | — | ||
| Q4 25 | 13.4% | 16.1% | ||
| Q3 25 | 14.0% | 19.1% | ||
| Q2 25 | 13.0% | 14.3% | ||
| Q1 25 | 10.9% | 3.6% | ||
| Q4 24 | 11.8% | 14.3% | ||
| Q3 24 | 18.4% | 19.6% | ||
| Q2 24 | 12.3% | 7.2% |
| Q2 26 | $1.52 | — | ||
| Q4 25 | $1.98 | $48.22 | ||
| Q3 25 | $2.05 | $59.25 | ||
| Q2 25 | $1.84 | $49.67 | ||
| Q1 25 | $1.41 | $12.08 | ||
| Q4 24 | $1.65 | $39.02 | ||
| Q3 24 | $2.58 | $66.25 | ||
| Q2 24 | $1.71 | $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 | $519.8K | $4.0B |
| Total DebtLower is stronger | $8.5M | $4.3B |
| Stockholders' EquityBook value | $10.0M | $18.6B |
| Total Assets | $25.0M | $68.9B |
| Debt / EquityLower = less leverage | 0.85× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $519.8K | — | ||
| Q4 25 | $646.2M | $4.0B | ||
| Q3 25 | $2.0B | $4.0B | ||
| Q2 25 | $1.9B | $3.7B | ||
| Q1 25 | $1.2B | $4.2B | ||
| Q4 24 | $1.3B | $3.7B | ||
| Q3 24 | $1.3B | $3.9B | ||
| Q2 24 | $384.0M | $3.5B |
| Q2 26 | $8.5M | — | ||
| Q4 25 | $7.4B | $4.3B | ||
| Q3 25 | $8.1B | $4.3B | ||
| Q2 25 | $7.5B | $4.4B | ||
| Q1 25 | $7.0B | $4.4B | ||
| Q4 24 | $6.9B | $4.3B | ||
| Q3 24 | $7.0B | $4.4B | ||
| Q2 24 | $7.5B | $4.4B |
| Q2 26 | $10.0M | — | ||
| Q4 25 | $9.8B | $18.6B | ||
| Q3 25 | $9.7B | $18.0B | ||
| Q2 25 | $9.3B | $17.3B | ||
| Q1 25 | $8.9B | $17.1B | ||
| Q4 24 | $8.8B | $16.9B | ||
| Q3 24 | $8.5B | $17.0B | ||
| Q2 24 | $8.3B | $15.9B |
| Q2 26 | $25.0M | — | ||
| Q4 25 | $24.7B | $68.9B | ||
| Q3 25 | $23.9B | $67.4B | ||
| Q2 25 | $23.7B | $66.8B | ||
| Q1 25 | $22.4B | $64.6B | ||
| Q4 24 | $22.4B | $61.9B | ||
| Q3 24 | $22.1B | $62.3B | ||
| Q2 24 | $21.5B | $59.7B |
| Q2 26 | 0.85× | — | ||
| Q4 25 | 0.75× | 0.23× | ||
| Q3 25 | 0.83× | 0.24× | ||
| Q2 25 | 0.81× | 0.25× | ||
| Q1 25 | 0.79× | 0.26× | ||
| Q4 24 | 0.79× | 0.26× | ||
| Q3 24 | 0.82× | 0.26× | ||
| Q2 24 | 0.91× | 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 | — | 1.8% |
| Cash ConversionOCF / Net Profit | — | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q4 25 | $1.1B | $662.2M | ||
| Q3 25 | $791.3M | $1.2B | ||
| Q2 25 | $701.8M | $504.4M | ||
| Q1 25 | $369.4M | $376.2M | ||
| Q4 24 | $766.7M | $493.9M | ||
| Q3 24 | $786.7M | $890.8M | ||
| Q2 24 | $611.1M | $578.6M |
| Q2 26 | — | — | ||
| Q4 25 | $758.0M | $599.1M | ||
| Q3 25 | $529.7M | $1.2B | ||
| Q2 25 | $485.1M | $453.8M | ||
| Q1 25 | $131.5M | $335.5M | ||
| Q4 24 | $407.0M | $420.0M | ||
| Q3 24 | $550.3M | $838.9M | ||
| Q2 24 | $414.2M | $521.4M |
| Q2 26 | — | — | ||
| Q4 25 | 18.1% | 16.7% | ||
| Q3 25 | 12.7% | 29.6% | ||
| Q2 25 | 12.1% | 9.9% | ||
| Q1 25 | 3.6% | 9.9% | ||
| Q4 24 | 10.2% | 10.9% | ||
| Q3 24 | 13.8% | 18.2% | ||
| Q2 24 | 10.4% | 14.1% |
| Q2 26 | — | — | ||
| Q4 25 | 7.9% | 1.8% | ||
| Q3 25 | 6.3% | 1.3% | ||
| Q2 25 | 5.4% | 1.1% | ||
| Q1 25 | 6.4% | 1.2% | ||
| Q4 24 | 9.0% | 1.9% | ||
| Q3 24 | 5.9% | 1.1% | ||
| Q2 24 | 4.9% | 1.5% |
| Q2 26 | — | — | ||
| Q4 25 | 1.93× | 1.15× | ||
| Q3 25 | 1.35× | 1.62× | ||
| Q2 25 | 1.34× | 0.77× | ||
| Q1 25 | 0.92× | 3.09× | ||
| Q4 24 | 1.62× | 0.90× | ||
| Q3 24 | 1.07× | 0.98× | ||
| Q2 24 | 1.24× | 2.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
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% |
