Marsh: stock overview

MRSHNYSEFinancial services · Insurance Agents, Brokers & Service

Price

$207.78

November 13, 2026Market cap $101B

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  • The full history: 10 fiscal years, from 2016
  • The estimated fair value, with its range and its certainty
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In short

Marsh had revenue of $28.5B over the last 12 months and net income of $4.0B, a net margin of 14.2%. Revenue grew by 9.4% a year on average over the last 5 years. At $207.78 the shares trade at a P/E of 24.9, against a median of 26.0 over the last 5 fiscal years. It has net debt of $6.4B. It pays a dividend yielding 1.82%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings
Market cap
$101B
484M shares
P/E
24.9
Today24.9
Median26.0
Revenue, 12 months
$28.5B
+9.4% a year over 5 years
Net margin
14.2%
2025: 15.4%, above 73% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

+8.9% a year over 2 years

  • 202510-K
    Revenue$27.0B
  • 202410-K
    Revenue$24.5B
  • 202310-K
    Revenue$22.7B

Fiscal years in figures

MRSH's revenue, profit, cash flow and dividend with each year-end price, from 2016 to 2022, 7 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $93.2B
$101B
Enterprise value 
$107B
P/E 3-year median: 25.2
24.9
EV / EBIT 
17.6
EV / Revenue 
3.8
P/B 3-year median: 7.5
6.8
FCF yield 3-year median: 4.1%
4.1%
Earnings yield 3-year median: 4.0%
4.0%

Profitability

Operating margin 
21.4%
Net margin 3-year median: 16.5%
14.2%
ROIC 
13.2%
ROIC, 5-year average 
14.9%
ROE 
26.7%

Growth

Revenue, yearly change 
+10.3%
EPS, yearly change 
+3.1%
FCF, yearly change 
+25.5%
Revenue, average a year 
+9.4%
EPS, average a year 
+16.4%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash 
$14.1B
Total debt 
$22.3B
Of which operating leases 
$1.8B
Net debt 
$6.4B
Net debt / EBITDA 
1.0x
Interest cover 
6.3x
Current ratio 
1.09

Balance sheet of September 30, 2026.

Returns to shareholders

Dividend yield 3-year median: 1.4%
1.82%
Buybacks 
2.00%
Total returned 
3.82%
Shares, yearly change 
-1.4%
Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 64).

Operating margin

23.1%

Above 87% of the 19 companies in its industry, and 86% of all.

Net margin

15.4%

Above 73% of the 28 companies in its industry, and 76% of all.

ROE

27.2%

Above 79% of the 21 companies in its industry, and 90% of all.

ROA

7.1%

Above 65% of the 27 companies in its industry, and 80% of all.

Revenue growth

10.3%

Above 43% of the 27 companies in its industry, and 63% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC
MARSH & MCLENNAN COMPANIES, INC.
CIK
62709
Exchange
NYSE
Industry (SIC)
6411 · Insurance Agents, Brokers & Service
Fiscal year ends
December 31
Latest annual report
December 31, 2025
Reporting currency
USD
Shares
484M

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The full analysis

What do Marsh's filings show?

These are Marsh's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about MRSH

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What is MRSH's market cap?

Marsh's market cap is $101B, at a price of $207.78 on November 13, 2026 and 484M shares.

What is MRSH's P/E?

MRSH's P/E is 24.9, on earnings per share of $8.36 over the last 12 months. The median over the last 5 fiscal years was 26.0.

How much revenue does MRSH have?

Marsh had revenue of $28.5B over the last 12 months. Over the last 5 years it changed by +9.4% a year on average.

Does MRSH pay a dividend?

Yes. Marsh paid $3.78 per share over the last 12 months, a yield of 1.82% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From Marsh's SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.