Marsh & McLennan Companies, Inc. (MRSH)
Marsh & McLennan Companies, Inc. brought in $28.5B of revenue over the twelve months to September 30, 2026, up 7.6% from a year earlier. Net income was $4B, a net margin of 14.2%. Operating cash flow minus capital spending left $5B of free cash flow in fiscal 2025. At September 30, 2026 it held $1.8B in cash against $18.9B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 15, 2026.
Key facts about Marsh & McLennan Companies, Inc.
- Net worth
- Marsh & McLennan Companies, Inc. has a market value (market cap) of $98.7B at the latest share price, and shareholders' equity of $14.9B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $27B (+10.3% year on year), with net income of $4.2B. Over the 12 months to September 30, 2026: revenue $28.5B, net income $4B.
- Cash flow
- In fiscal 2025 operations brought in $5.3B of cash; after $291M of capital spending, free cash flow was $5B.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 15, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Marsh & McLennan Companies, Inc.'s next report is expected around January 28, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Marsh & McLennan Companies, Inc. declared dividends of $3.43 per share in fiscal 2025, a yield of 1.66% at the current price.
What Marsh & McLennan Companies, Inc. does
Marsh McLennan provides insurance brokerage, risk management advisory, employee benefits consulting, and management consulting services. Its clients include businesses, government bodies, and institutions seeking to manage operational risk, arrange insurance coverage, and structure workplace benefit programs. Its shares trade on NYSE under the ticker MRSH.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $27B | $4.2B | $8.43 | $5B |
| 2024 | $24.5B | $4.1B | $8.18 | $4B |
| 2023 | $22.7B | $3.8B | $7.53 | $3.8B |
| 2022 | $20.7B | $3.1B | $6.04 | $3B |
| 2021 | $19.8B | $3.1B | $6.13 | $3.1B |
| 2020 | $17.2B | $2B | $3.94 | $3B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where MRSH ranks in Finance
Dividends
Marsh & McLennan Companies, Inc. declared $3.43 per share in fiscal 2025. At the current price that is a yield of 1.66%. It paid out $1.7B in cash dividends, 41% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $3.43 | $1.7B | 41% |
| 2024 | $3.05 | $1.5B | 37% |
| 2023 | $2.60 | $1.3B | 35% |
| 2022 | $2.25 | $1.1B | 37% |
| 2021 | n/a | $1B | 33% |
| 2020 | n/a | $943M | 47% |
Latest SEC filings
What Marsh & McLennan Companies, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 27, 2026Other event 8-K
- October 15, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 8.1% to $6.9B versus the same quarter last year; diluted EPS $1.69 versus $1.51.
- October 15, 2026
- September 21, 2026Delisting notice 25-NSE
- July 21, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 6.2% to $7.4B versus the same quarter last year; diluted EPS $2.63 versus $2.45.
- July 21, 2026
- June 22, 2026
- June 22, 2026
- June 4, 2026
- May 22, 2026
What is MRSH worth? A DCF from its reported cash flow
Insider trades
What the people running Marsh & McLennan Companies, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $4.6M worth of shares in the last 90 days and bought none on the open market. Most of the selling (95%) was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| November 5, 2026 | Beswick PaulSVP, Chief Information Officer | Soldpre-planned (10b5-1) | 713 | $151.7K |
| November 2, 2026 | Tomlinson PatrickPres/CEO, Marsh People & Inv | Exercised options | 2,500 | $207.6K |
| November 2, 2026 | Tomlinson PatrickPres/CEO, Marsh People & Inv | Shares withheld for tax | 1,775 | $361.2K |
| October 23, 2026 | Mills StacyVice President and Controller | Soldpre-planned (10b5-1) | 1,215 | $243K |
| October 23, 2026 | Klisura Dean MichaelPresident & CEO, Marsh RE | Soldpre-planned (10b5-1) | 4,194 | $838.8K |
| September 2, 2026 | Doyle John QPresident and CEO | Exercised options | 16,656 | $1.2M |
| September 2, 2026 | Doyle John QPresident and CEO | Soldpre-planned (10b5-1) | 16,656 | $3.1M |
| September 2, 2026 | Brennan KatherineSVP and General Counsel | Exercised options | 1,197 | $99.4K |
Who owns MRSH
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Capital Management13G, passive | 7.52% | April 30, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 1,499 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 39,502,046 | -2,559,630 |
| Vanguard Capital Management LLC | 31,472,575 | +4,901 |
| State Street Corp | 22,401,676 | +330,731 |
| Capital World Investors | 18,122,340 | +153,158 |
| Wellington Management Group Llp | 16,975,238 | -395,471 |
| Capital International Investors | 15,729,457 | +15,604 |
| Geode Capital Management, LLC | 13,510,274 | +106,102 |
| Vanguard Portfolio Management LLC | 12,570,512 | +142,566 |
| Capital Research Global Investors | 10,973,649 | -327,539 |
| Harris Associates L P | 8,687,496 | +3,518,377 |
| Artisan Partners Limited Partnership | 7,269,246 | +2,393,389 |
| Fmr LLC | 6,954,123 | -3,226,582 |
| Massachusetts Financial Services Co | 6,507,415 | -1,692,894 |
| Morgan Stanley | 6,314,085 | -159,907 |
| Norges Bank | 6,255,525 | new |
| Ameriprise Financial Inc | 5,535,138 | +46,601 |
| Northern Trust Corp | 4,888,165 | -76,914 |
| Jpmorgan Chase & Co | 4,730,329 | -1,363,063 |
| Clearbridge Investments, LLC | 4,705,966 | -1,717,565 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 4,597,647 | -584,870 |
Insiders
17 insiders reported holding 336,542 shares in total, about $69.6M at the last price.
| Holder | Shares |
|---|---|
| Doyle John QPresident and CEO | 116,811 |
| Mcgivney Mark CChief Financial Officer | 42,469 |
| Hanway H EdwardDirector | 36,868 |
| Studer Nicholas MarkPresident and CEO of OWG | 32,536 |
| Klisura Dean MichaelPresident & CEO, Marsh RE | 20,935 |
| South MartinChief Client Officer | 16,632 |
| Beswick PaulSVP, Chief Information Officer | 15,663 |
| Fernandez CarmenSVP, Chief People Officer | 12,995 |
| Yates Lloyd MDirector | 12,001 |
| Brennan KatherineSVP and General Counsel | 7,330 |
Questions about MRSH
What does Marsh & McLennan Companies, Inc. do?
Marsh McLennan provides insurance brokerage, risk management advisory, employee benefits consulting, and management consulting services. Its clients include businesses, government bodies, and institutions seeking to manage operational risk, arrange insurance coverage, and structure workplace benefit programs. Its shares trade on NYSE under the ticker MRSH.
What is Marsh & McLennan Companies, Inc.'s net worth?
Marsh & McLennan Companies, Inc. has a market value (market cap) of $98.7B at the latest share price, and shareholders' equity of $14.9B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Marsh & McLennan Companies, Inc. profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $4B on revenue of $28.5B, a net margin of 14.2%.
How much revenue does Marsh & McLennan Companies, Inc. make?
Over the twelve months to September 30, 2026 Marsh & McLennan Companies, Inc. reported revenue of $28.5B. That is 7.6% more than a year earlier.
When did Marsh & McLennan Companies, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 15, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the insider trade from November 9, 2026.
When is Marsh & McLennan Companies, Inc.'s next earnings report?
Marsh & McLennan Companies, Inc.'s next report is expected around January 28, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does Marsh & McLennan Companies, Inc. pay a dividend?
Yes. Marsh & McLennan Companies, Inc. declared dividends of $3.43 per share in fiscal 2025, a yield of 1.66% at the current price.
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Where the numbers come from
Financial figures are the values Marsh & McLennan Companies, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.