Financials · Insurance Brokers/Services
Marsh & McLennan Companies, Inc.
$208.18 +0.66 (+0.32%) Pre-market $209.99 (+1.19%) ≈ ₹19,538 a share
Key numbers
- Market value
- $98.99B
- P/E (TTM)
- 25.0
- Forward P/E
- 18.9
- EPS (TTM)
- $8.34
- Dividend yield
- 1.90%
- Beta
- 0.52
- Day range
- $207.64 – $210.00
- 52-week range
- $156.60 – $214.00
- Volume
- 213,493
- 10-day avg volume
- $2.38M
- Revenue (TTM)
- $28.46B
- EBITDA (TTM)
- $8.09B
- Gross margin
- 43.8%
- Net margin
- 14.5%
- Return on equity
- 27.1%
- Debt / equity
- 139.9%
- Price / sales
- 3.48
- Shares out
- 475.51M
Quarterly results
Results for each quarter
Last 12 quarters from 10-Q and 10-K filings with the US SEC. Q4 = full year minus the first three quarters. Hover a bar to see the number.
Revenue and net income
Revenue · QoQ (vs last quarter)
Revenue · YoY (vs a year ago)
Net income · QoQ (vs last quarter)
Net income · YoY (vs a year ago)
| US$ | Dec 23 | Mar 24 | Jun 24 | Sep 24 | Dec 24 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.55B | $6.47B | $6.22B | $5.70B | $6.07B | $7.06B | $6.97B | $6.35B | $6.60B | $7.60B | $7.40B | $6.86B |
| Operating income | $1.10B | $1.93B | $1.64B | $1.11B | $1.14B | $2.01B | $1.83B | $1.17B | $1.22B | $1.75B | $1.90B | $1.22B |
| Operating margin | 19.9% | 29.7% | 26.4% | 19.4% | 18.8% | 28.4% | 26.2% | 18.4% | 18.5% | 23.1% | 25.6% | 17.7% |
| Interest expense | $151.00M | $159.00M | $156.00M | $154.00M | $231.00M | $245.00M | $243.00M | $237.00M | $235.00M | $240.00M | $250.00M | $248.00M |
| Pre-tax income | $1.05B | $1.87B | $1.57B | $1.04B | $1.01B | $1.83B | $1.65B | $1.01B | $1.06B | $1.58B | $1.70B | $1.03B |
| Income tax | $283.00M | $447.00M | $425.00M | $283.00M | $208.00M | $415.00M | $415.00M | $253.00M | $222.00M | $395.00M | $411.00M | $221.00M |
| Net income | $756.00M | $1.40B | $1.13B | $747.00M | $788.00M | $1.38B | $1.21B | $747.00M | $821.00M | $1.15B | $1.27B | $808.00M |
| Net margin | 13.6% | 21.6% | 18.1% | 13.1% | 13.0% | 19.6% | 17.4% | 11.8% | 12.4% | 15.1% | 17.1% | 11.8% |
| EPS (diluted) | — | $2.82 | $2.27 | $1.51 | — | $2.79 | $2.45 | $1.51 | — | $2.36 | $2.63 | $1.69 |
Income statement
Results for each year
8 fiscal years from the company's 10-K filings with the US SEC.
Revenue, gross profit and net income
Revenue · YoY (vs a year ago)
Net income · YoY (vs a year ago)
EPS (diluted) · YoY (vs a year ago)
| US$ | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.95B | $16.65B | $17.22B | $19.82B | $20.72B | $22.74B | $24.46B | $26.98B |
| Revenue growth | — | 11.4% | 3.4% | 15.1% | 4.5% | 9.7% | 7.6% | 10.3% |
| Operating income | $2.76B | $2.68B | $3.07B | $4.31B | $4.28B | $5.28B | $5.82B | $6.22B |
| Operating margin | 18.5% | 16.1% | 17.8% | 21.8% | 20.7% | 23.2% | 23.8% | 23.1% |
| Depreciation & amortisation | $494.00M | $647.00M | $741.00M | $747.00M | $381.00M | $370.00M | $369.00M | $361.00M |
| Interest expense | $290.00M | $524.00M | $515.00M | $444.00M | $469.00M | $578.00M | $700.00M | $960.00M |
| Pre-tax income | $2.24B | $2.44B | $2.79B | $4.21B | $4.08B | $5.03B | $5.48B | $5.54B |
| Income tax | $574.00M | $666.00M | $747.00M | $1.03B | $995.00M | $1.22B | $1.36B | $1.31B |
| Tax rate | 25.6% | 27.3% | 26.7% | 24.6% | 24.4% | 24.4% | 24.9% | 23.6% |
| Net income | $1.65B | $1.74B | $2.02B | $3.14B | $3.05B | $3.76B | $4.06B | $4.16B |
| Net margin | 11.0% | 10.5% | 11.7% | 15.9% | 14.7% | 16.5% | 16.6% | 15.4% |
| EPS (diluted) | $3.23 | $3.41 | $3.94 | $6.13 | $6.04 | $7.53 | $8.18 | $8.43 |
Balance sheet
Assets and debt
At each fiscal year end.
Equity, debt and cash
Shareholders' equity · YoY (vs a year ago)
| US$ | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.07B | $1.16B | $2.09B | $1.75B | $1.44B | $3.36B | $2.40B | $2.69B |
| Current assets | $5.93B | $7.07B | $8.16B | $8.26B | $18.96B | $21.75B | $22.12B | $23.20B |
| Total assets | $21.58B | $31.36B | $33.05B | $44.01B | $44.11B | $48.03B | $56.48B | $58.71B |
| Current liabilities | $4.92B | $6.68B | $6.56B | $6.65B | $17.83B | $19.80B | $19.52B | $21.06B |
| Long-term debt | $5.51B | $10.74B | $10.80B | $10.93B | $11.23B | $11.84B | $19.43B | $18.32B |
| Short-term debt | $314.00M | $1.22B | $517.00M | $17.00M | $268.00M | $1.62B | $519.00M | $1.27B |
| Total debt | $5.82B | $11.96B | $11.31B | $10.95B | $11.50B | $13.46B | $19.95B | $19.59B |
| Shareholders' equity | $7.58B | $7.94B | $9.26B | $11.22B | $10.75B | $12.37B | $13.54B | $15.32B |
| Current ratio | 1.21 | 1.06 | 1.24 | 1.24 | 1.06 | 1.10 | 1.13 | 1.10 |
| Debt / equity | 0.77 | 1.51 | 1.22 | 0.98 | 1.07 | 1.09 | 1.47 | 1.28 |
| Return on equity | 21.8% | 21.9% | 21.8% | 28.0% | 28.4% | 30.4% | 30.0% | 27.2% |
Cash flow
Cash coming in and going out
Free cash flow = cash from operations minus capital spending. Shareholder returns = dividends + buybacks.
Free cash flow and shareholder returns
Operating cash flow · YoY (vs a year ago)
Free cash flow · YoY (vs a year ago)
| US$ | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $2.43B | $2.36B | $3.38B | $3.52B | $3.47B | $4.26B | $4.30B | $5.29B |
| Capital spending | $-314.00M | $-421.00M | $-348.00M | $-406.00M | $-470.00M | $-416.00M | $-316.00M | $-291.00M |
| Free cash flow | $2.11B | $1.94B | $3.03B | $3.11B | $3.00B | $3.84B | $3.99B | $5.00B |
| FCF margin | 14.1% | 11.7% | 17.6% | 15.7% | 14.5% | 16.9% | 16.3% | 18.5% |
| Stock-based pay | $193.00M | $252.00M | $290.00M | $348.00M | $367.00M | $363.00M | $368.00M | $394.00M |
| Cash from investing | $-1.09B | $-4.40B | $-793.00M | $-1.16B | $-850.00M | $-1.42B | $-8.82B | $-845.00M |
| Cash from financing | $-1.31B | $4.33B | $-925.00M | $-1.30B | $-1.05B | $-1.12B | $4.46B | $-4.63B |
| Dividends paid | $-807.00M | $-890.00M | $-943.00M | $-1.03B | $-1.14B | $-1.30B | $-1.51B | $-1.70B |
| Share buybacks | $-675.00M | $-485.00M | $0 | $-1.16B | $-1.95B | $-1.15B | $-900.00M | $-2.01B |
About
About Marsh & McLennan Companies, Inc.
Marsh & McLennan Companies, Inc., trading as Marsh McLennan and Marsh, is an American professional services firm headquartered in New York City, with businesses in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting. Its four main operating companies are Marsh, which offers risk management, insurance broking, insurance program management, risk consulting, analytical modeling, and alternative risk financing services; Marsh Re, a reinsurance intermediary and advisor; Mercer, which provides consulting to employers for health insurance, retirement plans, and pension plans; and Oliver Wyman, including Lippincott and NERA Economic Consulting, which provides consulting services. In 2024, risk and insurance services contributed a total of 63% of revenues and 71% of operating profit, while consulting contributed 37% of revenues and 29% of operating profit. It is the largest insurance broker worldwide.
From Wikipedia (CC BY-SA 4.0).
Company details
- Company name
- Marsh & McLennan Companies, Inc.
- Ticker
- MRSH
- Exchange
- NYSE
- ISIN
- US5717481023
- SEC CIK
- 0000062709
- Sector
- Financials
- Industry
- Insurance Brokers/Services
- SEC industry (SIC)
- Insurance Agents, Brokers & Service (6411)
- Incorporated in
- Delaware
- Financial year ends
- 31 December
- Filer type
- Large accelerated filer
- Latest annual report (10-K)
- 9 Feb 2026
- CEO
- John Q. Doyle
- Chair
- H. Edward Hanway
- Headquarters
- New York City
- Address
- 1166 Avenue Of The Americas, New York, Ny 10036
- Founded
- 1905
- Employees
- 95,000
- Trades in
- US dollars (USD)
- Website
- marsh.com
News
Latest news
From Google News; each link opens the publisher's story.
Peers
Others in Financials
Quotes from CNBC (may be delayed), financials from SEC EDGAR, profile from global-stock-logos (MIT). Information only, not investment advice.