MRSHNYSEInsurance Agents, Brokers & ServiceFiscal year ends December 31
MARSH & MCLENNAN COMPANIES, INC.
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 15, 2026
$188.50+0.15 (+0.08%)
Close on Oct 19, 2026
- Market cap
- $90.29B
- P/E (TTM)
- 22.6
- Dividend yield
- 1.82%
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
23.1%+5.3 pts over 5 years
Net margin
15.4%+3.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.3% | +9.2% | +9.4% | +7.7% | |
| Operating income | +7.0% | +13.3% | +15.2% | +9.9% | |
| Net income | +2.5% | +10.9% | +15.6% | +10.0% | |
| EPS, diluted | +3.1% | +11.8% | +16.4% | +11.0% | |
| Free cash flow | +25.5% | +18.6% | +10.5% | +12.3% | |
| Dividend per share | +12.5% | +15.1% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on assets | 9.7% | 6.3% | 7.2% | |
| Current ratio | 1.20 | 1.24 | 1.10 | |
| Net debt to EBITDA | 1.32× | 0.17× | 2.57× | |
| Interest coverage | 12.9× | 6.0× | 6.5× | |
| Capex to revenue | 1.9% | 2.0% | 1.1% | |
| Diluted shares | 524M | 512M | 494M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Marsh & Mclennan Companies generated $20.83B from operations and spent $15.74B on capital expenditure, dividends and share buybacks. 12% of that went back into the business.
Generated
$20.83B
Used
$15.74B
Capital expenditure$1.90B12%Dividends$6.67B42%Share buybacks$7.17B46%
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$4.16B
- Cash generatingOperating cash flow above zero$5.29B
- Return on assets improvedROA up on the prior year8.5% → 7.4%
- Earnings backed by cashOperating cash flow above net income$5.29B vs $4.16B
- Less leverageLong-term debt to assets fell34.4% → 31.2%
- Better liquidityCurrent ratio rose1.13 → 1.10
- No dilutionShare count did not rise496M → 494M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.51 → 0.48