Marsh & McLennan Companies, Inc. (MRSH)
Marsh & McLennan Companies, Inc., a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, catastrophe and financial modeling, and related advisory services; and insurance program management services. This segment serves businesses, public entities, insurance companies, associations, professional services organizations, and private clients. The Consulting segment provides health, wealth, and career consulting services and products; and specialized management, as well as economic and brand consulting services. Marsh & McLennan Companies, Inc. was founded in 1871 and is headquartered in New York, New York.
- Symbol
- MRSH
- Exchange
- NYSE
- Sector
- Financial Services
- Industry
- Insurance Brokers
- Market cap
- $90.08B
- 52 week range
- 156.6 - 207.83
Valuation
- Share price
- $185.74 (close of 2026-09-04)
- P/E (TTM)
- 22.93x
- Price to book
- 5.84x
- Price to free cash flow
- 18.90x
- Enterprise value
- $110.77B
- Book value per share
- $32.29
Price performance
| Period | Change |
|---|
| 1 day | -1.44% |
| 5 days | -3.58% |
| 1 month | -2.98% |
| 3 months | +15.18% |
| 6 months | +0.49% |
| Year to date | +0.12% |
| 1 year | -9.88% |
| 3 years | -5.12% |
| 5 years | +16.45% |
| 10 years | +171.95% |
| All time | +6217.69% |
Profitability and growth
- Return on equity
- 27.16%
- Return on invested capital
- 14.43%
- Return on assets
- 7.09%
- Return on capital employed
- 16.53%
- Gross margin
- 23.06%
- Net margin
- 15.42%
- EBITDA margin
- 24.40%
- Revenue growth
- 10.32%
- Net income growth
- 2.46%
- Free cash flow growth
- 25.46%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 5.29%
- Current ratio
- 1.14x
- Net debt to EBITDA
- 2.87x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $26.98B
- Cost of revenue
- $20.76B
- Gross profit
- $6.22B
- EBITDA
- $6.58B
- Net income
- $4.16B
- Earnings per share
- $8.48
- Shares outstanding
- 491.00M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $26.98B | $6.22B | $4.16B | $8.48 |
| 2024-12-31 | $24.46B | $5.82B | $4.06B | $8.26 |
| 2023-12-31 | $22.74B | $5.28B | $3.76B | $7.60 |
| 2022-12-31 | $20.72B | $4.28B | $3.05B | $6.11 |
| 2021-12-31 | $19.82B | $4.31B | $3.14B | $6.20 |
| 2020-12-31 | $17.22B | $3.07B | $2.02B | $3.98 |
| 2019-12-31 | $16.65B | $2.68B | $1.74B | $3.44 |
| 2018-12-31 | $14.95B | $2.76B | $1.65B | $3.26 |
| 2017-12-31 | $14.02B | $2.65B | $1.49B | $2.91 |
| 2016-12-31 | $13.21B | $2.43B | $1.77B | $3.41 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 23.06% | 15.42% | 27.16% | 14.43% |
| 2024-12-31 | 23.78% | 16.60% | 30.00% | 13.50% |
| 2023-12-31 | 23.23% | 16.52% | 30.36% | 16.60% |
| 2022-12-31 | 20.66% | 14.72% | 28.37% | 14.42% |
| 2021-12-31 | 21.76% | 15.86% | 28.01% | 14.48% |
| 2020-12-31 | 17.80% | 11.70% | 21.77% | 11.18% |
| 2019-12-31 | 16.08% | 10.46% | 21.93% | 9.57% |
| 2018-12-31 | 18.47% | 11.04% | 21.76% | 17.72% |
| 2017-12-31 | 18.93% | 10.64% | 20.05% | 23.42% |
| 2016-12-31 | 18.40% | 13.38% | 28.19% | 31.41% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $2.69B | $18.32B |
| 2024-12-31 | $2.40B | $19.43B |
| 2023-12-31 | $3.36B | $11.84B |
| 2022-12-31 | $1.44B | $11.23B |
| 2021-12-31 | $1.75B | $10.93B |
| 2020-12-31 | $2.09B | $10.80B |
| 2019-12-31 | $1.16B | $10.74B |
| 2018-12-31 | $1.07B | $5.51B |
| 2017-12-31 | $1.21B | - |
| 2016-12-31 | $1.03B | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $5.00B | $394.00M |
| 2024-12-31 | $3.99B | $368.00M |
| 2023-12-31 | $3.84B | $363.00M |
| 2022-12-31 | $3.00B | $367.00M |
| 2021-12-31 | $3.11B | $348.00M |
| 2020-12-31 | $3.03B | $290.00M |
| 2019-12-31 | $1.94B | $252.00M |
| 2018-12-31 | $2.11B | $193.00M |
| 2017-12-31 | $1.59B | $149.00M |
| 2016-12-31 | $1.75B | $109.00M |
Dividend history
- Most recent payment
- 2026-07-23
- Paid in the last twelve months
- $3.69
| Payment date | Dividend per share |
|---|
| 2026-07-23 | $0.99 |
| 2026-04-09 | $0.90 |
| 2026-01-29 | $0.90 |
| 2025-10-02 | $0.90 |
| 2025-07-24 | $0.90 |
| 2025-04-03 | $0.81 |
| 2025-01-30 | $0.81 |
| 2024-10-04 | $0.81 |
Next earnings report
- Next confirmed report
- 2026-10-15
- Consensus EPS estimate
- $1.96
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-21 | Jun/2026 | $2.88 |
| 2026-04-16 | - | - |
| 2026-01-29 | - | - |
| 2025-10-16 | - | - |
| 2025-07-17 | - | - |
| 2025-04-17 | - | - |
| 2025-01-30 | - | - |
| 2024-10-17 | - | - |
Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross, operating and net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
Explore
S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades
Marsh & McLennan Companies, Inc. website