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Erie Indemnity vs Marsh & McLennan Companies: revenue, profit, margins and growth compared

Erie Indemnity brought in $4.1B of revenue in fiscal 2025, Marsh & McLennan Companies $27B in fiscal 2025. Revenue changed by +7.2% at Erie Indemnity and +10.3% at Marsh & McLennan Companies on the year before, so Marsh & McLennan Companies grew faster. Erie Indemnity kept 13.8% of its revenue as net profit, Marsh & McLennan Companies 15.4%. Free cash flow was $571M at Erie Indemnity and $5B at Marsh & McLennan Companies.

Open the ERIE pageOpen the MRSH page

Side by side, latest fiscal year

ERIEMRSH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.1B$27B
Revenue growth+7.2%+10.3%
Net income$559.3M$4.2B
Net margin13.8%15.4%
Free cash flow$571M$5B
Free cash flow margin14.0%18.5%
Earnings per share (diluted)n/a$8.43
Cash$345.9M$2.7B
Debtn/a$19.6B
Price to earningsn/a20.3
Market value$10.3B$81.7B
Dividend yieldn/a2.00%
Rank by revenue in sector#108 of 444 · Finance#20 of 444 · Finance

Over the years

Revenue
ERIE FY2018: $2.4BERIE FY2019: $2.5BERIE FY2020: $2.5BERIE FY2021: $2.6BERIE FY2022: $2.8BERIE FY2023: $3.3BERIE FY2024: $3.8BERIE FY2025: $4.1BMRSH FY2018: $15BMRSH FY2019: $16.7BMRSH FY2020: $17.2BMRSH FY2021: $19.8BMRSH FY2022: $20.7BMRSH FY2023: $22.7BMRSH FY2024: $24.5BMRSH FY2025: $27BFY18FY19FY20FY21FY22FY23FY24FY25
ERIE $4.1BMRSH $27B
Net income
ERIE FY2018: $288.2MERIE FY2019: $316.8MERIE FY2020: $293.3MERIE FY2021: $297.9MERIE FY2022: $298.6MERIE FY2023: $446.1MERIE FY2024: $600.3MERIE FY2025: $559.3MMRSH FY2018: $1.7BMRSH FY2019: $1.7BMRSH FY2020: $2BMRSH FY2021: $3.1BMRSH FY2022: $3.1BMRSH FY2023: $3.8BMRSH FY2024: $4.1BMRSH FY2025: $4.2BFY18FY19FY20FY21FY22FY23FY24FY25
ERIE $559.3MMRSH $4.2B
Net margin
ERIE FY2018: 12.1%ERIE FY2019: 12.8%ERIE FY2020: 11.6%ERIE FY2021: 11.3%ERIE FY2022: 10.5%ERIE FY2023: 13.6%ERIE FY2024: 15.8%ERIE FY2025: 13.8%MRSH FY2018: 11.0%MRSH FY2019: 10.5%MRSH FY2020: 11.7%MRSH FY2021: 15.9%MRSH FY2022: 14.7%MRSH FY2023: 16.5%MRSH FY2024: 16.6%MRSH FY2025: 15.4%FY18FY19FY20FY21FY22FY23FY24FY25
ERIE 13.8%MRSH 15.4%
Revenue growth
ERIE FY2019: +4.0%ERIE FY2020: +2.4%ERIE FY2021: +3.8%ERIE FY2022: +7.8%ERIE FY2023: +15.1%ERIE FY2024: +16.1%ERIE FY2025: +7.2%MRSH FY2019: +11.4%MRSH FY2020: +3.4%MRSH FY2021: +15.1%MRSH FY2022: +4.5%MRSH FY2023: +9.7%MRSH FY2024: +7.6%MRSH FY2025: +10.3%FY19FY20FY21FY22FY23FY24FY25
ERIE +7.2%MRSH +10.3%
Free cash flow
ERIE FY2018: $207.3MERIE FY2019: $262.5MERIE FY2020: $287.1MERIE FY2021: $254MERIE FY2022: $298.9MERIE FY2023: $288.6MERIE FY2024: $486.4MERIE FY2025: $571MMRSH FY2018: $2.1BMRSH FY2019: $1.9BMRSH FY2020: $3BMRSH FY2021: $3.1BMRSH FY2022: $3BMRSH FY2023: $3.8BMRSH FY2024: $4BMRSH FY2025: $5BFY18FY19FY20FY21FY22FY23FY24FY25
ERIE $571MMRSH $5B

Fiscal years as each company reports them; the two may end in different months.

Questions about Erie Indemnity and Marsh & McLennan Companies

Which is bigger by revenue, Erie Indemnity or Marsh & McLennan Companies?

Marsh & McLennan Companies is bigger by revenue: $27B in fiscal 2025, against $4.1B for Erie Indemnity in fiscal 2025.

Which keeps more of its revenue as profit, Erie Indemnity or Marsh & McLennan Companies?

Erie Indemnity had a net margin of 13.8% in fiscal 2025; Marsh & McLennan Companies had 15.4% in fiscal 2025.

Which grew revenue faster, Erie Indemnity or Marsh & McLennan Companies?

In their latest fiscal years revenue changed by +7.2% at Erie Indemnity and +10.3% at Marsh & McLennan Companies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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