# Marsh & McLennan Companies, Inc.: overview

MRSH · NYSE · CIK 62709 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/mrsh.md) · [Financials](/companies/mrsh/financials.md) · [Filings](/companies/mrsh/filings.md) · [Insiders](/companies/mrsh/insiders.md)

Latest reported revenue: [$6.86bn](/filings/0000062709-26-000258.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 15, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0000062709-26-000258).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [6,067 d](/filings/0000062709-26-000022.md) | [7,061](/filings/0000062709-26-000098.md) | [6,974](/filings/0000062709-26-000195.md) | [6,351](/filings/0000062709-26-000258.md) | [6,595 d](/filings/0000062709-26-000022.md) | [7,597](/filings/0000062709-26-000098.md) | [7,404](/filings/0000062709-26-000195.md) | [6,863](/filings/0000062709-26-000258.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [18.8% d](/filings/0000062709-26-000022.md) | [28.4%](/filings/0000062709-26-000098.md) | [26.2%](/filings/0000062709-26-000195.md) | [18.4%](/filings/0000062709-26-000258.md) | [18.5% d](/filings/0000062709-26-000022.md) | [23.1%](/filings/0000062709-26-000098.md) | [25.6%](/filings/0000062709-26-000195.md) | [17.7%](/filings/0000062709-26-000258.md) |
| Net margin | % | [13.0% d](/filings/0000062709-26-000022.md) | [19.6%](/filings/0000062709-26-000098.md) | [17.4%](/filings/0000062709-26-000195.md) | [11.8%](/filings/0000062709-26-000258.md) | [12.4% d](/filings/0000062709-26-000022.md) | [15.1%](/filings/0000062709-26-000098.md) | [17.1%](/filings/0000062709-26-000195.md) | [11.8%](/filings/0000062709-26-000258.md) |
| Diluted EPS | $ per share | not reported | [2.79](/filings/0000062709-26-000098.md) | [2.45](/filings/0000062709-26-000195.md) | [1.51](/filings/0000062709-26-000258.md) | not reported | [2.36](/filings/0000062709-26-000098.md) | [2.63](/filings/0000062709-26-000195.md) | [1.69](/filings/0000062709-26-000258.md) |
| Free cash flow | $m | [1,880 d](/filings/0000062709-26-000022.md) | [(677)](/filings/0000062709-26-000098.md) | [1,612 d](/filings/0000062709-26-000195.md) | [2,010 d](/filings/0000062709-26-000258.md) | [2,056 d](/filings/0000062709-26-000022.md) | [(750)](/filings/0000062709-26-000098.md) | [1,451 d](/filings/0000062709-26-000195.md) | [1,397 d](/filings/0000062709-26-000258.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $bn | [19.8](/filings/0000062709-24-000016.md) | [20.7](/filings/0000062709-25-000015.md) | [22.7](/filings/0000062709-26-000022.md) | [24.5](/filings/0000062709-26-000022.md) | [27.0](/filings/0000062709-26-000022.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [21.8%](/filings/0000062709-24-000016.md) | [20.7%](/filings/0000062709-25-000015.md) | [23.2%](/filings/0000062709-26-000022.md) | [23.8%](/filings/0000062709-26-000022.md) | [23.1%](/filings/0000062709-26-000022.md) |
| Net margin | % | [15.9%](/filings/0000062709-24-000016.md) | [14.7%](/filings/0000062709-25-000015.md) | [16.5%](/filings/0000062709-26-000022.md) | [16.6%](/filings/0000062709-26-000022.md) | [15.4%](/filings/0000062709-26-000022.md) |
| Diluted EPS | $ per share | [6.13](/filings/0000062709-24-000016.md) | [6.04](/filings/0000062709-25-000015.md) | [7.53](/filings/0000062709-26-000022.md) | [8.18](/filings/0000062709-26-000022.md) | [8.43](/filings/0000062709-26-000022.md) |
| Free cash flow | $bn | [3.1](/filings/0000062709-24-000016.md) | [3.0](/filings/0000062709-25-000015.md) | [3.8](/filings/0000062709-26-000022.md) | [4.0](/filings/0000062709-26-000022.md) | [5.0](/filings/0000062709-26-000022.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/mrsh/insiders.md)

| Date | Insider | Role | Transaction | Shares | Reported price | Value | Filing |
| --- | --- | --- | --- | ---: | ---: | ---: | --- |
| 2026-10-23 | [Klisura Dean Michael](/insiders/1901304.md) | President & CEO, Marsh RE, Officer | Sale (S) | 4,194 | $200.00 | $838.8k | [Form 4](/filings/0000062709-26-000264.md) |
| 2026-10-23 | [Mills Stacy](/insiders/1726937.md) | Vice President and Controller, Officer | Sale (S) | 1,215 | $200.00 | $243.0k | [Form 4](/filings/0000062709-26-000263.md) |

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $6.58bn | 39,502,046 |  | Reduced −2,559,630 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $5.25bn | 31,472,575 |  | Added +4,901 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $3.73bn | 22,401,676 |  | Added +330,731 |
| [Capital World Investors](/funds/1422849.md) | 2026-06-30 | $3.02bn | 18,122,340 |  | Added +153,158 |
| [WELLINGTON MANAGEMENT GROUP LLP](/funds/902219.md) | 2026-06-30 | $2.83bn | 16,975,238 |  | Reduced −395,471 |
| [Capital International Investors](/funds/1562230.md) | 2026-06-30 | $2.62bn | 15,729,457 |  | Added +15,604 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $2.25bn | 13,510,274 |  | Added +106,102 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $2.10bn | 12,570,512 |  | Added +142,566 |
| [Capital Research Global Investors](/funds/1422848.md) | 2026-06-30 | $1.83bn | 10,973,649 |  | Reduced −327,539 |
| [HARRIS ASSOCIATES L P](/funds/813917.md) | 2026-06-30 | $1.45bn | 8,687,496 |  | Added +3,518,377 |

## Recent filings

[All 2,009 filings](/companies/mrsh/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-27 | 16:00 ET | [8-K](/filings/0001193125-26-434167.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-434167 |
| 2026-10-15 | 08:16 ET | [10-Q](/filings/0000062709-26-000258.md) | Quarterly report, period 2026-09-30 | 0000062709-26-000258 |
| 2026-10-15 | 08:05 ET | [8-K](/filings/0000062709-26-000256.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000062709-26-000256 |
| 2026-07-21 | 08:13 ET | [10-Q](/filings/0000062709-26-000195.md) | Quarterly report, period 2026-06-30 | 0000062709-26-000195 |
| 2026-07-21 | 07:02 ET | [8-K](/filings/0000062709-26-000193.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000062709-26-000193 |
| 2026-06-04 | 17:32 ET | [8-K](/filings/0000062709-26-000167.md) | 1.01 Entry into a material agreement; 1.02 Termination of a material agreement; 9.01 Financial statements and exhibits | 0000062709-26-000167 |
| 2026-05-22 | 16:02 ET | [8-K](/filings/0000062709-26-000128.md) | 5.07 Shareholder vote results | 0000062709-26-000128 |
| 2026-04-16 | 08:11 ET | [10-Q](/filings/0000062709-26-000098.md) | Quarterly report, period 2026-03-31 | 0000062709-26-000098 |
| 2026-04-16 | 07:02 ET | [8-K](/filings/0000062709-26-000096.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000062709-26-000096 |
| 2026-04-14 | 08:22 ET | [8-K](/filings/0000950103-26-005674.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0000950103-26-005674 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000062709-26-000022.md), filed Feb 9, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 62709
- Tickers: MRSH
- Exchange: NYSE
- SIC code: 6411 Insurance Agents, Brokers & Service
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 16:17 ET. No prices; not investment advice.