MRSH

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Marsh

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Key Metrics

Previous Close: $189.20
52-Week Range: $156.60 – $212.65
Market Cap: $90.77B
P/E (TTM): 23.08
EPS (TTM): 8.24
Dividend Yield: 2.09%

Advanced Metrics

Price/Book: 5.99
PEG Ratio: 1.79
Return on Equity: 25.90%
Return on Assets: 7.24%
Gross Margin: 43.99%
Operating Margin: 26.32%
Profit Margin: 14.24%
Current Ratio: 1.14
Debt/Equity: 1.45
Total Debt: $22.38B
Free Cash Flow: $4.79B
Revenue Growth: 6.20%
Earnings Growth: 7.30%
Enterprise Value: $111.70B

MRSH Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$20.72B	$22.74B	$24.46B	$26.98B
Cost of Revenue	$12.07B	$13.10B	$14.00B	$15.58B
Gross Profit	$8.65B	$9.64B	$10.46B	$11.40B
Operating Expenses	$4.37B	$4.36B	$4.64B	$5.18B
Operating Income	$4.28B	$5.28B	$5.82B	$6.22B
EBITDA	$5.27B	$6.32B	$6.93B	$7.41B
Pretax Income	$4.08B	$5.03B	$5.48B	$5.54B
Income Tax	$995.00M	$1.22B	$1.36B	$1.30B
Net Income	$3.05B	$3.76B	$4.06B	$4.16B
Diluted EPS	6.04	7.53	8.18	8.43
Diluted Shares	505.00M	499.00M	496.00M	494.00M

MRSH Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$1.44B	$3.36B	$2.40B	$2.69B
Receivables	$5.85B	$6.42B	$7.16B	$7.67B
Current Assets	$18.96B	$21.75B	$22.12B	$23.20B
Total Assets	$44.11B	$48.03B	$56.48B	$58.71B
Current Liabilities	$17.83B	$19.80B	$19.52B	$21.06B
Long-Term Debt	$11.23B	$11.84B	$19.43B	$18.32B
Total Debt	$13.47B	$15.44B	$21.86B	$21.45B
Total Liabilities	$33.37B	$35.66B	$42.95B	$43.40B
Retained Earnings	$20.30B	$22.76B	$25.31B	$27.77B
Shareholders' Equity	$10.52B	$12.19B	$13.34B	$15.10B
Working Capital	$1.13B	$1.95B	$2.60B	$2.14B
Net Debt	$10.05B	$10.11B	$17.55B	$16.90B

MRSH Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$3.46B	$4.26B	$4.30B	$5.29B
Capital Expenditure	-$470.00M	-$416.00M	-$316.00M	-$291.00M
Free Cash Flow	$3.00B	$3.84B	$3.99B	$5.00B
Depreciation & Amortisation	$719.00M	$713.00M	$746.00M	$910.00M
Stock-Based Compensation	$367.00M	$363.00M	$368.00M	$394.00M
Investing Cash Flow	-$850.00M	-$1.42B	-$8.82B	-$845.00M
Financing Cash Flow	-$1.05B	-$1.12B	$4.46B	-$4.63B
Dividends Paid	-$1.14B	-$1.30B	-$1.51B	-$1.70B
Share Repurchases	-$1.95B	-$1.15B	-$900.00M	-$2.01B
Net Change in Cash	$1.57B	$1.72B	-$64.00M	-$187.00M

MRSH Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$6.97B	$6.35B	$6.59B	$7.60B	$7.40B
Cost of Revenue	$3.90B	$3.89B	$3.94B	$4.13B	$4.14B
Gross Profit	$3.08B	$2.46B	$2.66B	$3.47B	$3.26B
Operating Expenses	$1.25B	$1.29B	$1.44B	$1.71B	$1.36B
Operating Income	$1.83B	$1.17B	$1.22B	$1.75B	$1.90B
EBITDA	$2.12B	$1.47B	$1.52B	$2.05B	$2.18B
Pretax Income	$1.65B	$1.01B	$1.06B	$1.58B	$1.70B
Income Tax	$415.00M	$253.00M	$222.00M	$395.00M	$411.00M
Net Income	$1.21B	$747.00M	$821.00M	$1.15B	$1.27B
Diluted EPS	2.45	1.51	1.68	2.36	2.63
Diluted Shares	495.00M	494.00M	490.00M	486.00M	482.00M

MRSH Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$1.68B	$2.51B	$2.69B	$1.61B	$1.70B
Receivables	$8.46B	$7.91B	$7.67B	$8.43B	$8.94B
Current Assets	$23.33B	$23.70B	$23.20B	$23.24B	$24.33B
Total Assets	$58.55B	$58.78B	$58.71B	$58.55B	$59.68B
Current Liabilities	$19.40B	$21.10B	$21.06B	$20.91B	$21.36B
Long-Term Debt	$18.96B	$18.32B	$18.32B	$18.90B	$18.89B
Total Debt	$21.61B	$21.43B	$21.45B	$22.45B	$22.38B
Total Liabilities	$42.58B	$43.42B	$43.40B	$43.75B	$44.25B
Retained Earnings	$27.09B	$26.95B	$27.77B	$28.04B	$29.30B
Shareholders' Equity	$15.77B	$15.15B	$15.10B	$14.57B	$15.18B
Working Capital	$3.93B	$2.60B	$2.14B	$2.33B	$2.97B
Net Debt	$18.05B	$17.07B	$16.90B	$18.99B	$18.86B

MRSH Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$1.67B	$2.08B	$2.16B	-$688.00M	$1.52B
Capital Expenditure	-$59.00M	-$72.00M	-$105.00M	-$62.00M	-$72.00M
Free Cash Flow	$1.61B	$2.01B	$2.06B	-$750.00M	$1.45B
Depreciation & Amortisation	$231.00M	$224.00M	$228.00M	$227.00M	$227.00M
Stock-Based Compensation	$98.00M	$95.00M	$89.00M	$139.00M	$96.00M
Investing Cash Flow	-$121.00M	-$227.00M	-$523.00M	-$104.00M	-$161.00M
Financing Cash Flow	-$1.70B	-$753.00M	-$2.05B	$114.00M	-$800.00M
Dividends Paid	-$405.00M	-$445.00M	-$444.00M	-$440.00M	-$438.00M
Share Repurchases	-$442.00M	-$408.00M	-$862.00M	-$755.00M	-$880.00M
Net Change in Cash	-$145.00M	$1.10B	-$410.00M	-$678.00M	$562.00M

Market Snapshot

About

Global professional services firm providing risk management, insurance brokerage, and consulting solutions. Helps organizations assess and manage risk, optimize insurance programs, and navigate complex business challenges across industries.