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MARKEL GROUP INC.（MKL）与Workday, Inc.（WDAY）财务数据对比。点击上方公司名可切换其他公司
MARKEL GROUP INC.的季度营收约是Workday, Inc.的1.5倍（$3.6B vs $2.4B），MARKEL GROUP INC.净利率更高（16.1% vs 10.4%，领先5.8%），Workday, Inc.同比增速更快（12.6% vs -6.9%），MARKEL GROUP INC.自由现金流更多（$599.1M vs $550.0M），过去两年Workday, Inc.的营收复合增速更高（12.5% vs -10.5%）
Markel集团是总部位于美国弗吉尼亚州里士满的综合性企业集团，1930年最初以保险公司的身份创立，发展至今业务已覆盖保险承保、投资管理等多个板块，在全球相关行业拥有较高的市场知名度与稳定的合作网络。
Workday是全球领先的企业级云软件供应商，核心产品覆盖人力资本管理、财务管理及企业资源规划解决方案，主要服务教育、医疗、金融、科技等行业的中大型机构，业务遍布北美、欧洲、亚太等全球主要市场。
MKL vs WDAY — 直观对比
营收规模更大
MKL
是对方的1.5倍
$2.4B
营收增速更快
WDAY
高出19.5%
-6.9%
净利率更高
MKL
高出5.8%
10.4%
自由现金流更多
MKL
多$49.1M
$550.0M
两年增速更快
WDAY
近两年复合增速
-10.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $2.4B |
| 净利润 | $576.8M | $252.0M |
| 毛利率 | — | — |
| 营业利润率 | 22.2% | 10.6% |
| 净利率 | 16.1% | 10.4% |
| 营收同比 | -6.9% | 12.6% |
| 净利润同比 | 5.0% | 30.6% |
| 每股收益（稀释后） | $48.22 | $0.94 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MKLWDAY
| Q4 25 | $3.6B | $2.4B | ||
| Q3 25 | $3.9B | $2.3B | ||
| Q2 25 | $4.6B | $2.2B | ||
| Q1 25 | $3.4B | $2.2B | ||
| Q4 24 | $3.8B | $2.2B | ||
| Q3 24 | $4.6B | $2.1B | ||
| Q2 24 | $3.7B | $2.0B | ||
| Q1 24 | $4.5B | $1.9B |
净利润MKLWDAY
| Q4 25 | $576.8M | $252.0M | ||
| Q3 25 | $751.3M | $228.0M | ||
| Q2 25 | $657.1M | $68.0M | ||
| Q1 25 | $121.7M | $94.0M | ||
| Q4 24 | $549.2M | $193.0M | ||
| Q3 24 | $905.0M | $132.0M | ||
| Q2 24 | $267.7M | $107.0M | ||
| Q1 24 | $1.0B | $1.2B |
营业利润率MKLWDAY
| Q4 25 | 22.2% | 10.6% | ||
| Q3 25 | 25.7% | 10.6% | ||
| Q2 25 | 24.1% | 1.7% | ||
| Q1 25 | 8.3% | 3.4% | ||
| Q4 24 | 15.5% | 7.6% | ||
| Q3 24 | 29.7% | 5.3% | ||
| Q2 24 | 11.1% | 3.2% | ||
| Q1 24 | 29.9% | 4.1% |
净利率MKLWDAY
| Q4 25 | 16.1% | 10.4% | ||
| Q3 25 | 19.1% | 9.7% | ||
| Q2 25 | 14.3% | 3.0% | ||
| Q1 25 | 3.6% | 4.3% | ||
| Q4 24 | 14.3% | 8.9% | ||
| Q3 24 | 19.6% | 6.3% | ||
| Q2 24 | 7.2% | 5.4% | ||
| Q1 24 | 23.0% | 61.8% |
每股收益（稀释后）MKLWDAY
| Q4 25 | $48.22 | $0.94 | ||
| Q3 25 | $59.25 | $0.84 | ||
| Q2 25 | $49.67 | $0.25 | ||
| Q1 25 | $12.08 | $0.34 | ||
| Q4 24 | $39.02 | $0.72 | ||
| Q3 24 | $66.25 | $0.49 | ||
| Q2 24 | $18.62 | $0.40 | ||
| Q1 24 | $75.43 | $4.48 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $4.0B | $6.8B |
| 总债务越低越好 | $4.3B | — |
| 股东权益账面价值 | $18.6B | $8.9B |
| 总资产 | $68.9B | $17.8B |
| 负债/权益比越低杠杆越低 | 0.23× | — |
8季度趋势，按日历期对齐
现金及短期投资MKLWDAY
| Q4 25 | $4.0B | $6.8B | ||
| Q3 25 | $4.0B | $8.2B | ||
| Q2 25 | $3.7B | $8.0B | ||
| Q1 25 | $4.2B | $8.0B | ||
| Q4 24 | $3.7B | $7.2B | ||
| Q3 24 | $3.9B | $7.4B | ||
| Q2 24 | $3.5B | $7.2B | ||
| Q1 24 | $3.6B | $7.8B |
总债务MKLWDAY
| 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 | $3.0B | ||
| Q1 24 | $3.9B | $3.0B |
股东权益MKLWDAY
| Q4 25 | $18.6B | $8.9B | ||
| Q3 25 | $18.0B | $9.2B | ||
| Q2 25 | $17.3B | $8.9B | ||
| Q1 25 | $17.1B | $9.0B | ||
| Q4 24 | $16.9B | $8.6B | ||
| Q3 24 | $17.0B | $8.3B | ||
| Q2 24 | $15.9B | $8.2B | ||
| Q1 24 | $15.7B | $8.1B |
总资产MKLWDAY
| Q4 25 | $68.9B | $17.8B | ||
| Q3 25 | $67.4B | $18.0B | ||
| Q2 25 | $66.8B | $17.2B | ||
| Q1 25 | $64.6B | $18.0B | ||
| Q4 24 | $61.9B | $16.4B | ||
| Q3 24 | $62.3B | $16.2B | ||
| Q2 24 | $59.7B | $15.9B | ||
| Q1 24 | $57.3B | $16.5B |
负债/权益比MKLWDAY
| 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× | 0.37× | ||
| Q1 24 | 0.25× | 0.37× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $662.2M | $588.0M |
| 自由现金流经营现金流 - 资本支出 | $599.1M | $550.0M |
| 自由现金流率自由现金流/营收 | 16.7% | 22.6% |
| 资本支出强度资本支出/营收 | 1.8% | 1.6% |
| 现金转化率经营现金流/净利润 | 1.15× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $2.6B | $2.6B |
8季度趋势，按日历期对齐
经营现金流MKLWDAY
| Q4 25 | $662.2M | $588.0M | ||
| Q3 25 | $1.2B | $616.0M | ||
| Q2 25 | $504.4M | $457.0M | ||
| Q1 25 | $376.2M | $1.1B | ||
| Q4 24 | $493.9M | $406.0M | ||
| Q3 24 | $890.8M | $571.0M | ||
| Q2 24 | $578.6M | $372.0M | ||
| Q1 24 | $630.7M | $995.6M |
自由现金流MKLWDAY
| Q4 25 | $599.1M | $550.0M | ||
| Q3 25 | $1.2B | $588.0M | ||
| Q2 25 | $453.8M | $421.0M | ||
| Q1 25 | $335.5M | $1.0B | ||
| Q4 24 | $420.0M | $359.0M | ||
| Q3 24 | $838.9M | $516.0M | ||
| Q2 24 | $521.4M | $291.0M | ||
| Q1 24 | $558.7M | $947.6M |
自由现金流率MKLWDAY
| Q4 25 | 16.7% | 22.6% | ||
| Q3 25 | 29.6% | 25.0% | ||
| Q2 25 | 9.9% | 18.8% | ||
| Q1 25 | 9.9% | 46.4% | ||
| Q4 24 | 10.9% | 16.6% | ||
| Q3 24 | 18.2% | 24.7% | ||
| Q2 24 | 14.1% | 14.6% | ||
| Q1 24 | 12.5% | 49.3% |
资本支出强度MKLWDAY
| Q4 25 | 1.8% | 1.6% | ||
| Q3 25 | 1.3% | 1.2% | ||
| Q2 25 | 1.1% | 1.6% | ||
| Q1 25 | 1.2% | 3.9% | ||
| Q4 24 | 1.9% | 2.2% | ||
| Q3 24 | 1.1% | 2.6% | ||
| Q2 24 | 1.5% | 4.1% | ||
| Q1 24 | 1.6% | 2.5% |
现金转化率MKLWDAY
| Q4 25 | 1.15× | 2.33× | ||
| Q3 25 | 1.62× | 2.70× | ||
| Q2 25 | 0.77× | 6.72× | ||
| Q1 25 | 3.09× | 11.83× | ||
| Q4 24 | 0.90× | 2.10× | ||
| Q3 24 | 0.98× | 4.33× | ||
| Q2 24 | 2.16× | 3.48× | ||
| Q1 24 | 0.62× | 0.84× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
