MRSH Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	26,981	24,458	22,736	20,720	19,820
Revenue Growth (YoY)	10.32%	7.57%	9.73%	4.54%	15.07%
Cost of Revenue	15,383	13,565	12,712	11,725	11,110
Gross Profit	11,598	10,893	10,024	8,995	8,710
Other Operating Expenses	5,181	4,413	4,157	4,053	3,958
Operating Expenses	5,181	4,413	4,157	4,053	3,958
Operating Income	6,417	6,480	5,867	4,942	4,752
Interest Expense	-960	-700	-578	-469	-444
Interest & Investment Income	82	95	83	36	63
EBT Excluding Unusual Items	5,539	5,875	5,372	4,509	4,371
Merger & Restructuring Charges	-	-119	-45	-	-
Other Unusual Items	-	-276	-301	-427	-163
Pretax Income	5,539	5,480	5,026	4,082	4,208
Income Tax Expense	1,305	1,363	1,224	995	1,034
Earnings From Continuing Operations	4,234	4,117	3,802	3,087	3,174
Net Income to Company	4,234	4,117	3,802	3,087	3,174
Minority Interest in Earnings	-74	-57	-46	-37	-31
Net Income	4,160	4,060	3,756	3,050	3,143
Net Income to Common	4,160	4,060	3,756	3,050	3,143
Net Income Growth	2.46%	8.09%	23.15%	-2.96%	55.90%
Shares Outstanding (Basic)	491	492	494	499	507
Shares Outstanding (Diluted)	494	496	499	505	513
Shares Change (YoY)	-0.40%	-0.60%	-1.19%	-1.56%	0.19%
EPS (Basic)	8.47	8.25	7.60	6.11	6.20
EPS (Diluted)	8.43	8.18	7.53	6.04	6.13
EPS Growth	3.06%	8.63%	24.67%	-1.47%	55.58%
Free Cash Flow	5,001	3,986	3,842	2,995	3,110
Free Cash Flow Per Share	10.12	8.04	7.70	5.93	6.06
Dividend Per Share	3.515	3.155	2.720	2.305	2.070
Dividend Growth	11.41%	15.99%	18.00%	11.35%	11.89%
Gross Margin	42.99%	44.54%	44.09%	43.41%	43.95%
Operating Margin	23.78%	26.49%	25.80%	23.85%	23.98%
Profit Margin	15.42%	16.60%	16.52%	14.72%	15.86%
Free Cash Flow Margin	18.54%	16.30%	16.90%	14.46%	15.69%
EBITDA	7,327	7,226	6,580	5,661	5,499
EBITDA Margin	27.16%	29.54%	28.94%	27.32%	27.74%
D&A For EBITDA	910	746	713	719	747
EBIT	6,417	6,480	5,867	4,942	4,752
EBIT Margin	23.78%	26.49%	25.80%	23.85%	23.98%
Effective Tax Rate	23.56%	24.87%	24.35%	24.38%	24.57%

Updated Jan 29, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.