Marsh & McLennan Companies, Inc. (MRSH)

Marsh & McLennan Companies, Inc., a professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide. The company operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk management, insurance broking, insurance program management, risk consulting, analytical modeling, and alternative risk financing services. This segment also offers insurance and reinsurance broking, strategic advisory and actuarial services, and analytics solutions. It serves businesses, public entities, insurance companies, associations, professional services organizations, and private clients. The Consulting segment provides health, wealth and career advice, solutions and products; and specialized management, strategic, 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: $89.47B
52 week range: 156.6 - 198.49

Valuation

Share price: $188.50 (close of 2026-10-19)
P/E (TTM): 22.42x
Price to book: 6.00x
Price to free cash flow: 21.54x
Enterprise value: $109.96B
Book value per share: $31.39

Price performance

Period	Change
1 day	+0.08%
5 days	+6.77%
1 month	+7.71%
3 months	+3.47%
6 months	+7.22%
Year to date	+1.61%
1 year	-0.57%
3 years	-1.31%
5 years	+14.48%
10 years	+186.47%
All time	+6,317.02%

Short interest

As of: 30 Sep 2026
Short % of float: 1.34%
Shares short: 6.35M
Days to cover: 1.87
Change since prior report: +8.18%
Source: FINRA consolidated short interest

Members of Congress who disclosed MRSH trades

Kevin Hern · Alan Armstrong

Super investors holding MRSH

Bill Nygren (Harris Associates LP) · Ken Griffin (Citadel) · First Pacific Advisors (First Pacific Advisors, LP) · Ray Dalio (Bridgewater Associates) · Mairs & Power (Mairs & Power Inc)

Profitability and growth

Return on equity: 27.16%
Return on assets: 7.09%
Net margin: 15.42%
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): 4.64%
Current ratio: 1.09x
Net debt to EBITDA: 2.91x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $26.98B
Net income: $4.16B
Earnings per share: $8.48
Shares outstanding: 491.00M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$26.98B	$4.16B	$8.48
2024-12-31	$24.46B	$4.06B	$8.26
2023-12-31	$22.74B	$3.76B	$7.60
2022-12-31	$20.72B	$3.05B	$6.11
2021-12-31	$19.82B	$3.14B	$6.20
2020-12-31	$17.22B	$2.02B	$3.98
2019-12-31	$16.65B	$1.74B	$3.44
2018-12-31	$14.95B	$1.65B	$3.26
2017-12-31	$14.02B	$1.49B	$2.91
2016-12-31	$13.21B	$1.77B	$3.41

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	15.42%	27.16%
2024-12-31	16.60%	30.00%
2023-12-31	16.52%	30.36%
2022-12-31	14.72%	28.37%
2021-12-31	15.86%	28.01%
2020-12-31	11.70%	21.77%
2019-12-31	10.46%	21.93%
2018-12-31	11.04%	21.76%
2017-12-31	10.64%	20.05%
2016-12-31	13.38%	28.19%

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	$5.22B
2016-12-31	$1.03B	$4.50B

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: 2026-10-01
Paid in the last twelve months: $3.78

Payment date	Dividend per share
2026-10-01	$0.99
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

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-10-15	Sep/2026	$1.96
2026-07-21	Jun/2026	$2.88
2026-04-16	Mar/2026	$3.21
2026-01-29	Dec/2025	$1.97
2025-10-16	Sep/2025	$1.79
2025-07-17	Jun/2025	$2.66
2025-04-17	Mar/2025	$3.02
2025-01-30	Dec/2024	$1.75

Filings and sources

Company website: corporate.marsh.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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