vs
Side-by-side financial comparison of MARKEL GROUP INC. (MKL) and Vistra Corp. (VST). Click either name above to swap in a different company.
Vistra Corp. is the larger business by last-quarter revenue ($4.8B vs $3.6B, roughly 1.3× MARKEL GROUP INC.). MARKEL GROUP INC. runs the higher net margin — 16.1% vs 4.8%, a 11.3% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs -6.9%). MARKEL GROUP INC. produced more free cash flow last quarter ($599.1M vs $596.0M). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% CAGR vs -10.5%).
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.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
MKL vs VST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.6B | $4.8B |
| Net Profit | $576.8M | $233.0M |
| Gross Margin | — | — |
| Operating Margin | 22.2% | 9.9% |
| Net Margin | 16.1% | 4.8% |
| Revenue YoY | -6.9% | 31.2% |
| Net Profit YoY | 5.0% | -47.2% |
| EPS (diluted) | $48.22 | $0.55 |
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 | $3.6B | $4.8B | ||
| Q3 25 | $3.9B | $4.8B | ||
| Q2 25 | $4.6B | $3.8B | ||
| Q1 25 | $3.4B | $4.3B | ||
| Q4 24 | $3.8B | $3.7B | ||
| Q3 24 | $4.6B | $4.3B | ||
| Q2 24 | $3.7B | $3.6B | ||
| Q1 24 | $4.5B | $3.2B |
| Q4 25 | $576.8M | $233.0M | ||
| Q3 25 | $751.3M | $652.0M | ||
| Q2 25 | $657.1M | $327.0M | ||
| Q1 25 | $121.7M | $-268.0M | ||
| Q4 24 | $549.2M | $441.0M | ||
| Q3 24 | $905.0M | $1.9B | ||
| Q2 24 | $267.7M | $365.0M | ||
| Q1 24 | $1.0B | $-35.0M |
| Q4 25 | 22.2% | 9.9% | ||
| Q3 25 | 25.7% | 21.7% | ||
| Q2 25 | 24.1% | 13.7% | ||
| Q1 25 | 8.3% | -2.8% | ||
| Q4 24 | 15.5% | 16.4% | ||
| Q3 24 | 29.7% | 59.6% | ||
| Q2 24 | 11.1% | 22.5% | ||
| Q1 24 | 29.9% | 2.7% |
| Q4 25 | 16.1% | 4.8% | ||
| Q3 25 | 19.1% | 13.6% | ||
| Q2 25 | 14.3% | 8.7% | ||
| Q1 25 | 3.6% | -6.3% | ||
| Q4 24 | 14.3% | 12.0% | ||
| Q3 24 | 19.6% | 43.5% | ||
| Q2 24 | 7.2% | 10.1% | ||
| Q1 24 | 23.0% | -1.1% |
| Q4 25 | $48.22 | $0.55 | ||
| Q3 25 | $59.25 | $1.75 | ||
| Q2 25 | $49.67 | $0.81 | ||
| Q1 25 | $12.08 | $-0.93 | ||
| Q4 24 | $39.02 | $1.09 | ||
| Q3 24 | $66.25 | $5.25 | ||
| Q2 24 | $18.62 | $0.90 | ||
| Q1 24 | $75.43 | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.0B | $785.0M |
| Total DebtLower is stronger | $4.3B | $15.8B |
| Stockholders' EquityBook value | $18.6B | $5.1B |
| Total Assets | $68.9B | $41.5B |
| Debt / EquityLower = less leverage | 0.23× | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.0B | $785.0M | ||
| Q3 25 | $4.0B | $602.0M | ||
| Q2 25 | $3.7B | $458.0M | ||
| Q1 25 | $4.2B | $561.0M | ||
| Q4 24 | $3.7B | $1.2B | ||
| Q3 24 | $3.9B | $905.0M | ||
| Q2 24 | $3.5B | $1.6B | ||
| Q1 24 | $3.6B | $1.1B |
| Q4 25 | $4.3B | $15.8B | ||
| Q3 25 | $4.3B | $15.8B | ||
| Q2 25 | $4.4B | $15.5B | ||
| Q1 25 | $4.4B | $15.4B | ||
| Q4 24 | $4.3B | $15.4B | ||
| Q3 24 | $4.4B | $13.9B | ||
| Q2 24 | $4.4B | $13.9B | ||
| Q1 24 | $3.9B | $14.7B |
| Q4 25 | $18.6B | $5.1B | ||
| Q3 25 | $18.0B | $5.2B | ||
| Q2 25 | $17.3B | $4.8B | ||
| Q1 25 | $17.1B | $4.8B | ||
| Q4 24 | $16.9B | $5.6B | ||
| Q3 24 | $17.0B | $5.4B | ||
| Q2 24 | $15.9B | $5.6B | ||
| Q1 24 | $15.7B | $5.7B |
| Q4 25 | $68.9B | $41.5B | ||
| Q3 25 | $67.4B | $38.0B | ||
| Q2 25 | $66.8B | $38.1B | ||
| Q1 25 | $64.6B | $38.2B | ||
| Q4 24 | $61.9B | $37.8B | ||
| Q3 24 | $62.3B | $37.9B | ||
| Q2 24 | $59.7B | $39.1B | ||
| Q1 24 | $57.3B | $38.2B |
| Q4 25 | 0.23× | 3.11× | ||
| Q3 25 | 0.24× | 3.02× | ||
| Q2 25 | 0.25× | 3.22× | ||
| Q1 25 | 0.26× | 3.20× | ||
| Q4 24 | 0.26× | 2.77× | ||
| Q3 24 | 0.26× | 2.56× | ||
| Q2 24 | 0.28× | 2.49× | ||
| Q1 24 | 0.25× | 2.60× |
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 | $1.4B |
| Free Cash FlowOCF − Capex | $599.1M | $596.0M |
| FCF MarginFCF / Revenue | 16.7% | 12.4% |
| Capex IntensityCapex / Revenue | 1.8% | 17.4% |
| Cash ConversionOCF / Net Profit | 1.15× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $2.6B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $662.2M | $1.4B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $504.4M | $572.0M | ||
| Q1 25 | $376.2M | $599.0M | ||
| Q4 24 | $493.9M | $1.4B | ||
| Q3 24 | $890.8M | $1.7B | ||
| Q2 24 | $578.6M | $1.2B | ||
| Q1 24 | $630.7M | $312.0M |
| Q4 25 | $599.1M | $596.0M | ||
| Q3 25 | $1.2B | $1.0B | ||
| Q2 25 | $453.8M | $-118.0M | ||
| Q1 25 | $335.5M | $-169.0M | ||
| Q4 24 | $420.0M | $923.0M | ||
| Q3 24 | $838.9M | $1.0B | ||
| Q2 24 | $521.4M | $698.0M | ||
| Q1 24 | $558.7M | $-153.0M |
| Q4 25 | 16.7% | 12.4% | ||
| Q3 25 | 29.6% | 21.1% | ||
| Q2 25 | 9.9% | -3.1% | ||
| Q1 25 | 9.9% | -4.0% | ||
| Q4 24 | 10.9% | 25.2% | ||
| Q3 24 | 18.2% | 23.4% | ||
| Q2 24 | 14.1% | 19.4% | ||
| Q1 24 | 12.5% | -4.8% |
| Q4 25 | 1.8% | 17.4% | ||
| Q3 25 | 1.3% | 9.6% | ||
| Q2 25 | 1.1% | 18.4% | ||
| Q1 25 | 1.2% | 18.1% | ||
| Q4 24 | 1.9% | 11.7% | ||
| Q3 24 | 1.1% | 15.8% | ||
| Q2 24 | 1.5% | 13.8% | ||
| Q1 24 | 1.6% | 14.7% |
| Q4 25 | 1.15× | 6.15× | ||
| Q3 25 | 1.62× | 2.25× | ||
| Q2 25 | 0.77× | 1.75× | ||
| Q1 25 | 3.09× | — | ||
| Q4 24 | 0.90× | 3.07× | ||
| Q3 24 | 0.98× | 0.90× | ||
| Q2 24 | 2.16× | 3.28× | ||
| Q1 24 | 0.62× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
