MKL vs. PGR: Markel vs. Progressive Stock Comparison
How do Markel (MKL) and Progressive (PGR) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
Markel (MKL) and Progressive (PGR) are both classified in the Property & Casualty Insurance sub-industry within the broader Insurance industry, placing them in the closest GICS peer bucket.
| Profile Item | MKL | PGR |
|---|---|---|
| Name | Markel Group Inc. | The Progressive Corporation |
| Country/Region | United States | United States |
| GICS Sector | Financials | Financials |
| GICS Industry Group | Insurance | Insurance |
| GICS Industry | Insurance | Insurance |
| GICS Sub-Industry | Property & Casualty Insurance | Property & Casualty Insurance |
| Market Capitalization | 23.71 billion USD | 131.96 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | December 12, 1986 | March 17, 1980 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | MKL | PGR |
|---|---|---|
| Total Return (1Y) | -4.35% | 11.71% |
| Total Return (3Y, Annualized) | 13.21% | 15.84% |
| Total Return (5Y, Annualized) | 8.36% | 21.68% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
Progressive (PGR) trades around 2.59M shares per day on average, while Markel (MKL) sees only 66.79K — a volume gap that can matter for position sizing, exit liquidity, and order execution.
| Metric | MKL | PGR |
|---|---|---|
| Volatility (1Y, Annualized) | 18.61% | 26.37% |
| Beta (5Y) | 0.57 | 0.22 |
| Max Drawdown (5Y) | -28.87% | -30.35% |
| Avg. Volume (3M) | 66.79K | 2.59M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | MKL | PGR |
|---|---|---|
| Sharpe Ratio (1Y) | -0.46 | 0.28 |
| Sortino Ratio (1Y) | -0.60 | 0.39 |
Profitability
ROE (TTM)
Progressive (PGR) at 33.24% sits in the top ROE quartile, while Markel (MKL) at 9.75% is closer to the peer norm — stronger capital efficiency for PGR.
MKL
Insurance industry group
9.75%
- Max
- 41.68%
- Q3
- 22.04%
- Median
- 14.81%
- MKL
- 9.75%
- Q1
- 8.79%
- Min
- -10.66%
PGR
Insurance industry group
33.24%
- Max
- 41.68%
- PGR
- 33.24%
- Q3
- 22.04%
- Median
- 14.81%
- Q1
- 8.79%
- Min
- -10.66%
Net Margin (TTM)
Both Markel (MKL) at 11.13% and Progressive (PGR) at 12.67% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.
MKL
Insurance industry group
11.13%
- Max
- 29.92%
- Q3
- 17.03%
- MKL
- 11.13%
- Median
- 10.97%
- Q1
- 6.21%
- Min
- -4.68%
PGR
Insurance industry group
12.67%
- Max
- 29.92%
- Q3
- 17.03%
- PGR
- 12.67%
- Median
- 10.97%
- Q1
- 6.21%
- Min
- -4.68%
Operating Margin (TTM)
Neither side reports a meaningful operating margin: for Markel (MKL) in Insurance and Progressive (PGR) in Insurance, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.
Profitability Metrics
| Metric | MKL | PGR |
|---|---|---|
| ROE (TTM) | 9.75% | 33.24% |
| ROA (TTM) | 2.21% | 7.53% |
| Net Margin (TTM) | 11.13% | 12.67% |
| Operating Margin (TTM) | -- | -- |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Progressive (PGR) at 16.32% is around its peer norm for revenue growth, while Markel (MKL) at -2.49% drops into the bottom quartile, signaling weaker demand or pricing momentum.
EPS Growth
Progressive (PGR) at 33.54% is around its peer norm for EPS growth, while Markel (MKL) at -15.10% drops into the bottom quartile, signaling weaker earnings momentum.
Growth Metrics
| Metric | MKL | PGR |
|---|---|---|
| Revenue Growth (YoY) | -2.49% | 16.32% |
| Revenue Growth (3Y CAGR) | 11.40% | 20.90% |
| EPS Growth (YoY) | -15.10% | 33.54% |
| EPS Growth (3Y CAGR) | -- | 153.53% |
Financial Strength
Current Ratio (MRQ)
current ratio doesn’t apply on either side: Markel (MKL) in Insurance and Progressive (PGR) in Insurance both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.
Debt / Equity (MRQ)
debt-to-equity ratio is set aside for both: Markel (MKL) in Insurance and Progressive (PGR) in Insurance run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.
Financial Strength Metrics
| Metric | MKL | PGR |
|---|---|---|
| Current Ratio (MRQ) | -- | -- |
| Debt / Equity (MRQ) | -- | -- |
| Net Debt / EBITDA | -- | -- |
Dividends
Dividend Yield (TTM)
Markel (MKL) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Progressive (PGR) reports a yield of 0.17%, ranking against industry peers normally.
MKL
Insurance industry group
0.00%
- Max
- 5.12%
- Q3
- 2.15%
- Median
- 0.98%
- MKL
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
PGR
Insurance industry group
0.17%
- Max
- 5.12%
- Q3
- 2.15%
- Median
- 0.98%
- PGR
- 0.17%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Markel (MKL) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Progressive (PGR) reports a payout of 70.03%, ranking against industry peers normally.
MKL
Insurance industry group
0.00%
- Max
- 76.67%
- Q3
- 35.18%
- Median
- 14.74%
- MKL
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
PGR
Insurance industry group
70.03%
- Max
- 76.67%
- PGR
- 70.03%
- Q3
- 35.18%
- Median
- 14.74%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | MKL | PGR |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.17% |
| Dividend Payout Ratio (TTM) | 0.00% | 70.03% |
Valuation
P/E Ratio (TTM)
Both Markel (MKL) at 13.80 and Progressive (PGR) at 11.47 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.
MKL
Insurance industry group
13.80
- Max
- 28.37
- Q3
- 18.75
- MKL
- 13.80
- Median
- 12.23
- Q1
- 9.08
- Min
- 2.32
PGR
Insurance industry group
11.47
- Max
- 28.37
- Q3
- 18.75
- Median
- 12.23
- PGR
- 11.47
- Q1
- 9.08
- Min
- 2.32
P/S Ratio (TTM)
On P/S ratio, both Markel (MKL) at 1.47 and Progressive (PGR) at 1.44 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.
MKL
Insurance industry group
1.47
- Max
- 4.03
- Q3
- 2.25
- MKL
- 1.47
- Median
- 1.23
- Q1
- 0.85
- Min
- 0.07
PGR
Insurance industry group
1.44
- Max
- 4.03
- Q3
- 2.25
- PGR
- 1.44
- Median
- 1.23
- Q1
- 0.85
- Min
- 0.07
P/B Ratio (MRQ)
Markel (MKL) at 1.28 is valued about in line with its industry on P/B ratio, while Progressive (PGR) at 3.82 carries an above-peer premium to book — PGR is pricier on assets.
MKL
Insurance industry group
1.28
- Max
- 5.07
- Q3
- 2.79
- Median
- 1.76
- MKL
- 1.28
- Q1
- 1.23
- Min
- 0.30
PGR
Insurance industry group
3.82
- Max
- 5.07
- PGR
- 3.82
- Q3
- 2.79
- Median
- 1.76
- Q1
- 1.23
- Min
- 0.30
Valuation Metrics
| Metric | MKL | PGR |
|---|---|---|
| P/E Ratio (TTM) | 13.80 | 11.47 |
| P/S Ratio (TTM) | 1.47 | 1.44 |
| P/B Ratio (MRQ) | 1.28 | 3.82 |
| Free Cash Flow Yield (TTM) | -- | -- |