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Side-by-side financial comparison of McDonald's (MCD) and MARKEL GROUP INC. (MKL). Click either name above to swap in a different company.
McDonald's is the larger business by last-quarter revenue ($7.0B vs $3.6B, roughly 2.0× MARKEL GROUP INC.). McDonald's runs the higher net margin — 30.9% vs 16.1%, a 14.8% gap on every dollar of revenue. On growth, McDonald's posted the faster year-over-year revenue change (9.7% vs -6.9%). McDonald's produced more free cash flow last quarter ($1.6B vs $599.1M). Over the past eight quarters, McDonald's's revenue compounded faster (6.6% CAGR vs -10.5%).
McDonald's Corporation, doing business as McDonald's, is an American multinational fast food restaurant chain. As of 2024, it is the second-largest by number of locations in the world, behind the Chinese chain Mixue Ice Cream & Tea.
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.
MCD vs MKL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.0B | $3.6B |
| Net Profit | $2.2B | $576.8M |
| Gross Margin | — | — |
| Operating Margin | 45.0% | 22.2% |
| Net Margin | 30.9% | 16.1% |
| Revenue YoY | 9.7% | -6.9% |
| Net Profit YoY | 7.3% | 5.0% |
| EPS (diluted) | $3.03 | $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 | $7.0B | $3.6B | ||
| Q3 25 | $7.1B | $3.9B | ||
| Q2 25 | $6.8B | $4.6B | ||
| Q1 25 | $6.0B | $3.4B | ||
| Q4 24 | $6.4B | $3.8B | ||
| Q3 24 | $6.9B | $4.6B | ||
| Q2 24 | $6.5B | $3.7B | ||
| Q1 24 | $6.2B | $4.5B |
| Q4 25 | $2.2B | $576.8M | ||
| Q3 25 | $2.3B | $751.3M | ||
| Q2 25 | $2.3B | $657.1M | ||
| Q1 25 | $1.9B | $121.7M | ||
| Q4 24 | $2.0B | $549.2M | ||
| Q3 24 | $2.3B | $905.0M | ||
| Q2 24 | $2.0B | $267.7M | ||
| Q1 24 | $1.9B | $1.0B |
| Q4 25 | — | — | ||
| Q3 25 | 90.6% | — | ||
| Q2 25 | 90.4% | — | ||
| Q1 25 | 89.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 90.6% | — | ||
| Q2 24 | 90.3% | — | ||
| Q1 24 | 89.8% | — |
| Q4 25 | 45.0% | 22.2% | ||
| Q3 25 | 47.4% | 25.7% | ||
| Q2 25 | 47.2% | 24.1% | ||
| Q1 25 | 44.5% | 8.3% | ||
| Q4 24 | 44.9% | 15.5% | ||
| Q3 24 | 46.4% | 29.7% | ||
| Q2 24 | 45.0% | 11.1% | ||
| Q1 24 | 44.4% | 29.9% |
| Q4 25 | 30.9% | 16.1% | ||
| Q3 25 | 32.2% | 19.1% | ||
| Q2 25 | 32.9% | 14.3% | ||
| Q1 25 | 31.4% | 3.6% | ||
| Q4 24 | 31.6% | 14.3% | ||
| Q3 24 | 32.8% | 19.6% | ||
| Q2 24 | 31.2% | 7.2% | ||
| Q1 24 | 31.3% | 23.0% |
| Q4 25 | $3.03 | $48.22 | ||
| Q3 25 | $3.18 | $59.25 | ||
| Q2 25 | $3.14 | $49.67 | ||
| Q1 25 | $2.60 | $12.08 | ||
| Q4 24 | $2.80 | $39.02 | ||
| Q3 24 | $3.13 | $66.25 | ||
| Q2 24 | $2.80 | $18.62 | ||
| Q1 24 | $2.66 | $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 | $774.0M | $4.0B |
| Total DebtLower is stronger | $40.0B | $4.3B |
| Stockholders' EquityBook value | $-1.8B | $18.6B |
| Total Assets | $59.5B | $68.9B |
| Debt / EquityLower = less leverage | — | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $774.0M | $4.0B | ||
| Q3 25 | $2.4B | $4.0B | ||
| Q2 25 | $1.9B | $3.7B | ||
| Q1 25 | $1.2B | $4.2B | ||
| Q4 24 | $1.1B | $3.7B | ||
| Q3 24 | $1.2B | $3.9B | ||
| Q2 24 | $792.0M | $3.5B | ||
| Q1 24 | $838.0M | $3.6B |
| Q4 25 | $40.0B | $4.3B | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | $38.4B | $4.3B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $3.9B |
| Q4 25 | $-1.8B | $18.6B | ||
| Q3 25 | $-2.2B | $18.0B | ||
| Q2 25 | $-2.8B | $17.3B | ||
| Q1 25 | $-3.5B | $17.1B | ||
| Q4 24 | $-3.8B | $16.9B | ||
| Q3 24 | $-5.2B | $17.0B | ||
| Q2 24 | $-4.8B | $15.9B | ||
| Q1 24 | $-4.8B | $15.7B |
| Q4 25 | $59.5B | $68.9B | ||
| Q3 25 | $60.6B | $67.4B | ||
| Q2 25 | $59.6B | $66.8B | ||
| Q1 25 | $56.3B | $64.6B | ||
| Q4 24 | $55.2B | $61.9B | ||
| Q3 24 | $56.2B | $62.3B | ||
| Q2 24 | $53.8B | $59.7B | ||
| Q1 24 | $53.5B | $57.3B |
| 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× | ||
| Q1 24 | — | 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 | $2.7B | $662.2M |
| Free Cash FlowOCF − Capex | $1.6B | $599.1M |
| FCF MarginFCF / Revenue | 23.4% | 16.7% |
| Capex IntensityCapex / Revenue | 15.1% | 1.8% |
| Cash ConversionOCF / Net Profit | 1.25× | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $7.2B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $662.2M | ||
| Q3 25 | $3.4B | $1.2B | ||
| Q2 25 | $2.0B | $504.4M | ||
| Q1 25 | $2.4B | $376.2M | ||
| Q4 24 | $2.6B | $493.9M | ||
| Q3 24 | $2.7B | $890.8M | ||
| Q2 24 | $1.7B | $578.6M | ||
| Q1 24 | $2.4B | $630.7M |
| Q4 25 | $1.6B | $599.1M | ||
| Q3 25 | $2.4B | $1.2B | ||
| Q2 25 | $1.3B | $453.8M | ||
| Q1 25 | $1.9B | $335.5M | ||
| Q4 24 | $1.8B | $420.0M | ||
| Q3 24 | $1.9B | $838.9M | ||
| Q2 24 | $1.1B | $521.4M | ||
| Q1 24 | $1.8B | $558.7M |
| Q4 25 | 23.4% | 16.7% | ||
| Q3 25 | 34.1% | 29.6% | ||
| Q2 25 | 18.3% | 9.9% | ||
| Q1 25 | 31.5% | 9.9% | ||
| Q4 24 | 28.6% | 10.9% | ||
| Q3 24 | 28.3% | 18.2% | ||
| Q2 24 | 16.3% | 14.1% | ||
| Q1 24 | 29.9% | 12.5% |
| Q4 25 | 15.1% | 1.8% | ||
| Q3 25 | 14.3% | 1.3% | ||
| Q2 25 | 10.9% | 1.1% | ||
| Q1 25 | 9.3% | 1.2% | ||
| Q4 24 | 12.6% | 1.9% | ||
| Q3 24 | 11.6% | 1.1% | ||
| Q2 24 | 9.7% | 1.5% | ||
| Q1 24 | 8.9% | 1.6% |
| Q4 25 | 1.25× | 1.15× | ||
| Q3 25 | 1.50× | 1.62× | ||
| Q2 25 | 0.89× | 0.77× | ||
| Q1 25 | 1.30× | 3.09× | ||
| Q4 24 | 1.30× | 0.90× | ||
| Q3 24 | 1.21× | 0.98× | ||
| Q2 24 | 0.84× | 2.16× | ||
| Q1 24 | 1.24× | 0.62× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
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% |
