vs
Side-by-side financial comparison of Macy's, Inc. (M) and MARKEL GROUP INC. (MKL). Click either name above to swap in a different company.
Macy's, Inc. is the larger business by last-quarter revenue ($4.7B vs $3.6B, roughly 1.3× MARKEL GROUP INC.). MARKEL GROUP INC. runs the higher net margin — 16.1% vs 0.2%, a 15.9% gap on every dollar of revenue. On growth, Macy's, Inc. posted the faster year-over-year revenue change (-0.6% vs -6.9%). MARKEL GROUP INC. produced more free cash flow last quarter ($599.1M vs $-101.0M). Over the past eight quarters, MARKEL GROUP INC.'s revenue compounded faster (-10.5% CAGR vs -23.8%).
Macy's, Inc. is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the next year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over Macy's, the old department store chain originally founded in 1858 by A...
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.
M vs MKL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $3.6B |
| Net Profit | $11.0M | $576.8M |
| Gross Margin | 39.4% | — |
| Operating Margin | 0.9% | 22.2% |
| Net Margin | 0.2% | 16.1% |
| Revenue YoY | -0.6% | -6.9% |
| Net Profit YoY | -60.7% | 5.0% |
| EPS (diluted) | $0.04 | $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.
| Q4 25 | $4.7B | $3.6B | ||
| Q3 25 | $4.8B | $3.9B | ||
| Q2 25 | $4.6B | $4.6B | ||
| Q1 25 | $7.8B | $3.4B | ||
| Q4 24 | $4.7B | $3.8B | ||
| Q3 24 | $4.9B | $4.6B | ||
| Q2 24 | $4.8B | $3.7B | ||
| Q1 24 | $8.1B | $4.5B |
| Q4 25 | $11.0M | $576.8M | ||
| Q3 25 | $87.0M | $751.3M | ||
| Q2 25 | $38.0M | $657.1M | ||
| Q1 25 | $342.0M | $121.7M | ||
| Q4 24 | $28.0M | $549.2M | ||
| Q3 24 | $150.0M | $905.0M | ||
| Q2 24 | $62.0M | $267.7M | ||
| Q1 24 | $-71.0M | $1.0B |
| Q4 25 | 39.4% | — | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 39.2% | — | ||
| Q1 25 | 35.7% | — | ||
| Q4 24 | 39.6% | — | ||
| Q3 24 | 40.5% | — | ||
| Q2 24 | 39.2% | — | ||
| Q1 24 | 37.5% | — |
| Q4 25 | 0.9% | 22.2% | ||
| Q3 25 | 3.1% | 25.7% | ||
| Q2 25 | 2.0% | 24.1% | ||
| Q1 25 | 6.4% | 8.3% | ||
| Q4 24 | 1.3% | 15.5% | ||
| Q3 24 | 4.5% | 29.7% | ||
| Q2 24 | 2.6% | 11.1% | ||
| Q1 24 | -0.9% | 29.9% |
| Q4 25 | 0.2% | 16.1% | ||
| Q3 25 | 1.8% | 19.1% | ||
| Q2 25 | 0.8% | 14.3% | ||
| Q1 25 | 4.4% | 3.6% | ||
| Q4 24 | 0.6% | 14.3% | ||
| Q3 24 | 3.0% | 19.6% | ||
| Q2 24 | 1.3% | 7.2% | ||
| Q1 24 | -0.9% | 23.0% |
| Q4 25 | $0.04 | $48.22 | ||
| Q3 25 | $0.31 | $59.25 | ||
| Q2 25 | $0.13 | $49.67 | ||
| Q1 25 | $1.22 | $12.08 | ||
| Q4 24 | $0.10 | $39.02 | ||
| Q3 24 | $0.53 | $66.25 | ||
| Q2 24 | $0.22 | $18.62 | ||
| Q1 24 | $-0.25 | $75.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $447.0M | $4.0B |
| Total DebtLower is stronger | $2.4B | $4.3B |
| Stockholders' EquityBook value | $4.3B | $18.6B |
| Total Assets | $17.1B | $68.9B |
| Debt / EquityLower = less leverage | 0.56× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.0M | $4.0B | ||
| Q3 25 | $829.0M | $4.0B | ||
| Q2 25 | $932.0M | $3.7B | ||
| Q1 25 | $1.3B | $4.2B | ||
| Q4 24 | $315.0M | $3.7B | ||
| Q3 24 | $646.0M | $3.9B | ||
| Q2 24 | $876.0M | $3.5B | ||
| Q1 24 | $1.0B | $3.6B |
| Q4 25 | $2.4B | $4.3B | ||
| Q3 25 | $2.4B | $4.3B | ||
| Q2 25 | $2.8B | $4.4B | ||
| Q1 25 | $2.8B | $4.4B | ||
| Q4 24 | $2.8B | $4.3B | ||
| Q3 24 | $3.0B | $4.4B | ||
| Q2 24 | $3.0B | $4.4B | ||
| Q1 24 | $3.0B | $3.9B |
| Q4 25 | $4.3B | $18.6B | ||
| Q3 25 | $4.5B | $18.0B | ||
| Q2 25 | $4.5B | $17.3B | ||
| Q1 25 | $4.6B | $17.1B | ||
| Q4 24 | $4.1B | $16.9B | ||
| Q3 24 | $4.3B | $17.0B | ||
| Q2 24 | $4.2B | $15.9B | ||
| Q1 24 | $4.1B | $15.7B |
| Q4 25 | $17.1B | $68.9B | ||
| Q3 25 | $15.6B | $67.4B | ||
| Q2 25 | $16.1B | $66.8B | ||
| Q1 25 | $16.4B | $64.6B | ||
| Q4 24 | $17.3B | $61.9B | ||
| Q3 24 | $15.8B | $62.3B | ||
| Q2 24 | $16.4B | $59.7B | ||
| Q1 24 | $16.2B | $57.3B |
| Q4 25 | 0.56× | 0.23× | ||
| Q3 25 | 0.55× | 0.24× | ||
| Q2 25 | 0.62× | 0.25× | ||
| Q1 25 | 0.61× | 0.26× | ||
| Q4 24 | 0.67× | 0.26× | ||
| Q3 24 | 0.70× | 0.26× | ||
| Q2 24 | 0.72× | 0.28× | ||
| Q1 24 | 0.72× | 0.25× |
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 | $-8.0M | $662.2M |
| Free Cash FlowOCF − Capex | $-101.0M | $599.1M |
| FCF MarginFCF / Revenue | -2.1% | 16.7% |
| Capex IntensityCapex / Revenue | 2.0% | 1.8% |
| Cash ConversionOCF / Net Profit | -0.73× | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.0M | $662.2M | ||
| Q3 25 | $319.0M | $1.2B | ||
| Q2 25 | $-64.0M | $504.4M | ||
| Q1 25 | $1.3B | $376.2M | ||
| Q4 24 | $-167.0M | $493.9M | ||
| Q3 24 | $8.0M | $890.8M | ||
| Q2 24 | $129.0M | $578.6M | ||
| Q1 24 | $1.1B | $630.7M |
| Q4 25 | $-101.0M | $599.1M | ||
| Q3 25 | $240.0M | $1.2B | ||
| Q2 25 | $-164.0M | $453.8M | ||
| Q1 25 | $1.2B | $335.5M | ||
| Q4 24 | $-295.0M | $420.0M | ||
| Q3 24 | $-109.0M | $838.9M | ||
| Q2 24 | $-25.0M | $521.4M | ||
| Q1 24 | $1.0B | $558.7M |
| Q4 25 | -2.1% | 16.7% | ||
| Q3 25 | 5.0% | 29.6% | ||
| Q2 25 | -3.6% | 9.9% | ||
| Q1 25 | 15.3% | 9.9% | ||
| Q4 24 | -6.2% | 10.9% | ||
| Q3 24 | -2.2% | 18.2% | ||
| Q2 24 | -0.5% | 14.1% | ||
| Q1 24 | 12.3% | 12.5% |
| Q4 25 | 2.0% | 1.8% | ||
| Q3 25 | 1.6% | 1.3% | ||
| Q2 25 | 2.2% | 1.1% | ||
| Q1 25 | 1.5% | 1.2% | ||
| Q4 24 | 2.7% | 1.9% | ||
| Q3 24 | 2.4% | 1.1% | ||
| Q2 24 | 3.2% | 1.5% | ||
| Q1 24 | 1.8% | 1.6% |
| Q4 25 | -0.73× | 1.15× | ||
| Q3 25 | 3.67× | 1.62× | ||
| Q2 25 | -1.68× | 0.77× | ||
| Q1 25 | 3.82× | 3.09× | ||
| Q4 24 | -5.96× | 0.90× | ||
| Q3 24 | 0.05× | 0.98× | ||
| Q2 24 | 2.08× | 2.16× | ||
| Q1 24 | — | 0.62× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
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% |
