Marsh & McLennan Companies, Inc. (MRSH)
NYSE: MRSH · Real-Time Price · USD
190.32
-4.40 (-2.26%)
Oct 27, 2026, 2:51 PM EDT - Market open
MRSH Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
| 28,459 | 26,981 | 24,458 | 22,736 | 20,720 | 19,820 | |
Revenue Growth | 7.58% | 10.32% | 7.57% | 9.73% | 4.54% | 15.07% |
Cost of Revenue | 15,801 | 15,209 | 13,565 | 12,712 | 11,725 | 11,110 |
Gross Profit | 12,658 | 11,772 | 10,893 | 10,024 | 8,995 | 8,710 |
Other Operating Expenses | 5,686 | 4,851 | 4,413 | 4,202 | 4,053 | 3,958 |
Operating Expenses | 5,686 | 4,851 | 4,413 | 4,202 | 4,053 | 3,958 |
Operating Income | 6,972 | 6,921 | 6,480 | 5,822 | 4,942 | 4,752 |
Interest Expense | -973 | -960 | -700 | -578 | -469 | -444 |
Interest & Investment Income | 59 | 82 | 95 | 83 | 36 | 63 |
EBT Excluding Unusual Items | 6,058 | 6,043 | 5,875 | 5,327 | 4,509 | 4,371 |
Merger & Restructuring Charges | -686 | -504 | -395 | -301 | -427 | -163 |
Pretax Income | 5,372 | 5,539 | 5,480 | 5,026 | 4,082 | 4,208 |
Income Tax Expense | 1,249 | 1,305 | 1,363 | 1,224 | 995 | 1,034 |
Earnings From Continuing Operations | 4,123 | 4,234 | 4,117 | 3,802 | 3,087 | 3,174 |
Net Income to Company | 4,123 | 4,234 | 4,117 | 3,802 | 3,087 | 3,174 |
Minority Interest in Earnings | -82 | -74 | -57 | -46 | -37 | -31 |
Net Income | 4,041 | 4,160 | 4,060 | 3,756 | 3,050 | 3,143 |
Net Income to Common | 4,041 | 4,160 | 4,060 | 3,756 | 3,050 | 3,143 |
Net Income Growth | -2.08% | 2.46% | 8.09% | 23.15% | -2.96% | 55.90% |
Shares Outstanding (Basic) | 482 | 491 | 492 | 494 | 499 | 507 |
Shares Outstanding (Diluted) | 484 | 494 | 496 | 499 | 505 | 513 |
Shares Change | -2.22% | -0.40% | -0.60% | -1.19% | -1.56% | 0.19% |
EPS (Basic) | 8.38 | 8.47 | 8.25 | 7.60 | 6.11 | 6.20 |
EPS (Diluted) | 8.35 | 8.43 | 8.18 | 7.53 | 6.04 | 6.13 |
EPS Growth | 0.12% | 3.06% | 8.63% | 24.67% | -1.47% | 55.58% |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | 4,154 | 5,001 | 3,986 | 3,842 | 2,995 | 3,110 |
Free Cash Flow Per Share | 8.58 | 10.12 | 8.04 | 7.70 | 5.93 | 6.06 |
Dividend Per Share | 3.780 | 3.515 | 3.155 | 2.720 | 2.305 | 2.070 |
Dividend Growth | 10.20% | 11.41% | 15.99% | 18.00% | 11.35% | 11.89% |
Gross Margin | 44.48% | 43.63% | 44.54% | 44.09% | 43.41% | 43.95% |
Operating Margin | 24.50% | 25.65% | 26.49% | 25.61% | 23.85% | 23.98% |
Profit Margin | 14.20% | 15.42% | 16.60% | 16.52% | 14.72% | 15.86% |
Free Cash Flow Margin | 14.60% | 18.54% | 16.30% | 16.90% | 14.46% | 15.69% |
EBITDA | 7,885 | 7,831 | 7,226 | 6,535 | 5,661 | 5,499 |
EBITDA Margin | 27.71% | 29.02% | 29.54% | 28.74% | 27.32% | 27.74% |
D&A For EBITDA | 913 | 910 | 746 | 713 | 719 | 747 |
EBIT | 6,972 | 6,921 | 6,480 | 5,822 | 4,942 | 4,752 |
EBIT Margin | 24.50% | 25.65% | 26.49% | 25.61% | 23.85% | 23.98% |
Effective Tax Rate | 23.25% | 23.56% | 24.87% | 24.35% | 24.38% | 24.57% |