AIR vs. MKL

Last updated Apr 1, 2026

Compare and contrast key facts about AAR Corp. (AIR) and Markel Corporation (MKL).

Performance

AIR vs. MKL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAR Corp. (AIR) and Markel Corporation (MKL). The values are adjusted to include any dividend payments, if applicable.

AIR vs. MKL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIR AAR Corp.	32.21%	35.10%	-1.79%	38.98%	15.04%	7.76%	-19.25%	21.74%	-4.31%	19.89%
MKL Markel Corporation	-11.49%	24.53%	21.57%	7.77%	6.77%	19.42%	-9.61%	10.13%	-8.87%	25.94%

Fundamentals

Market Cap AIR : $4.16B MKL : $22.51B
EPS AIR : $4.67 MKL : $169.50
PE Ratio AIR : 23.44 MKL : 11.22
PEG Ratio AIR : 8.20 MKL : 0.20
PS Ratio AIR : 1.28 MKL : 1.45
PB Ratio AIR : 2.53 MKL : 1.21
Total Revenue (TTM) AIR : $3.13B MKL : $16.34B
Gross Profit (TTM) AIR : $595.50M MKL : $9.30B
EBITDA (TTM) AIR : $214.30M MKL : $3.08B

Returns By Period

In the year-to-date period, AIR achieves a 32.21% return, which is significantly higher than MKL's -11.49% return. Over the past 10 years, AIR has outperformed MKL with an annualized return of 17.12%, while MKL has yielded a comparatively lower 7.73% annualized return.

AIR

• 1D: 6.11%
• 1M: -6.58%
• YTD: 32.21%
• 6M: 22.07%
• 1Y: 95.50%
• 3Y*: 26.13%
• 5Y*: 21.05%
• 10Y*: 17.12%

MKL

• 1D: -0.60%
• 1M: -8.56%
• YTD: -11.49%
• 6M: 0.91%
• 1Y: 2.30%
• 3Y*: 14.20%
• 5Y*: 10.46%
• 10Y*: 7.73%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

AIR vs. MKL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIR

AIR Risk / Return Rank: 93
AIR Sharpe Ratio Rank: 94
AIR Sortino Ratio Rank: 92
AIR Omega Ratio Rank: 90
AIR Calmar Ratio Rank: 95
AIR Martin Ratio Rank: 92

MKL

MKL Risk / Return Rank: 41
MKL Sharpe Ratio Rank: 44
MKL Sortino Ratio Rank: 36
MKL Omega Ratio Rank: 36
MKL Calmar Ratio Rank: 44
MKL Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIR vs. MKL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAR Corp. (AIR) and Markel Corporation (MKL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AIR	MKL	Difference
Sharpe ratio Return per unit of total volatility	2.38	0.11	+2.26
Sortino ratio Return per unit of downside risk	3.09	0.31	+2.78
Omega ratio Gain probability vs. loss probability	1.40	1.04	+0.36
Calmar ratio Return relative to maximum drawdown	5.83	0.12	+5.71
Martin ratio Return relative to average drawdown	12.11	0.34	+11.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AIR vs. MKL - Sharpe Ratio Comparison

The current AIR Sharpe Ratio is 2.38, which is higher than the MKL Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of AIR and MKL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AIR	MKL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	0.11	+2.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.47	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.31	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.47	-0.31

Correlation

The correlation between AIR and MKL is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

AIR vs. MKL - Dividend Comparison

Neither AIR nor MKL has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIR AAR Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.41%	0.67%	0.80%	0.76%	0.91%	1.14%
MKL Markel Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

AIR vs. MKL - Drawdown Comparison

The maximum AIR drawdown since its inception was -89.04%, which is greater than MKL's maximum drawdown of -61.32%. Use the drawdown chart below to compare losses from any high point for AIR and MKL.

Drawdown Indicators

	AIR	MKL	Difference
Max Drawdown Largest peak-to-trough decline	-89.04%	-61.32%	-27.72%
Max Drawdown (1Y) Largest decline over 1 year	-15.71%	-14.81%	-0.90%
Max Drawdown (5Y) Largest decline over 5 years	-35.72%	-28.87%	-6.85%
Max Drawdown (10Y) Largest decline over 10 years	-81.77%	-44.66%	-37.11%
Current Drawdown Current decline from peak	-8.61%	-13.20%	+4.59%
Average Drawdown Average peak-to-trough decline	-34.82%	-11.37%	-23.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.56%	5.26%	+2.30%

Volatility

AIR vs. MKL - Volatility Comparison

AAR Corp. (AIR) has a higher volatility of 19.78% compared to Markel Corporation (MKL) at 4.91%. This indicates that AIR's price experiences larger fluctuations and is considered to be riskier than MKL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIR	MKL	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.78%	4.91%	+14.87%
Volatility (6M) Calculated over the trailing 6-month period	28.89%	12.30%	+16.59%
Volatility (1Y) Calculated over the trailing 1-year period	40.47%	20.28%	+20.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.66%	22.24%	+12.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.00%	25.15%	+19.85%

Financials

AIR vs. MKL - Profitability Comparison

The chart below illustrates the profitability comparison between AAR Corp. and Markel Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AIR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, AAR Corp. reported a gross profit of 154.70M and revenue of 845.10M. Therefore, the gross margin over that period was 18.3%.

MKL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Markel Corporation reported a gross profit of 2.94B and revenue of 4.22B. Therefore, the gross margin over that period was 69.6%.

AIR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, AAR Corp. reported an operating income of 64.80M and revenue of 845.10M, resulting in an operating margin of 7.7%.

MKL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Markel Corporation reported an operating income of 734.16M and revenue of 4.22B, resulting in an operating margin of 17.4%.

AIR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, AAR Corp. reported a net income of 68.00M and revenue of 845.10M, resulting in a net margin of 8.1%.

MKL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Markel Corporation reported a net income of 576.81M and revenue of 4.22B, resulting in a net margin of 13.7%.