Is Marsh McLennan (MRSH) overvalued or fairly valued?

MarketChacha shows Marsh McLennan's valuation in context — a trailing P/E of about 21.0, a forward P/E of about 16.5, a price-to-book of about 5.9 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Marsh McLennan's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.16×) from reported figures — education, not a rating.

What is Marsh McLennan's revenue?

Marsh McLennan reported revenue of $27.0B for FY2025, with net profit of $4.2B, per official filings.

What is the share price of Marsh McLennan (MRSH)?

Marsh McLennan last traded at $188.35 (+1.0% on the day), as of 10/16/2026 — a delayed quote shown for education, not investment advice.

Marsh McLennan

MRSH · NYSE · Financials · United States

Snapshot

TickerMRSH

ExchangeNYSE

SectorFinancials

IndustryInsurance Brokers

CountryUnited States

Employees95,000

HeadquartersNew York, United States

Websitewww.corporate.marsh.com

Filings tracked15

About Marsh McLennan

Marsh & McLennan Companies, Inc., a professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide. The company operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk management, insurance broking, insurance program management, risk consulting, analytical modeling, and alternative risk financing services. This segment also offers insurance and reinsurance broking, strategic advisory and actuarial services, and analytics solutions. It serves businesses, public entities, insurance companies, associations, professional services organizations, and private clients. The Consulting segment provides health, wealth and career advice, solutions and products; and specialized management, strategic, economic, and brand consulting services. Marsh & McLennan Companies, Inc. was founded in 1871 and is headquartered in New York, New York.

Who owns it

Insiders0.1%
Institutions94.8%
Public & other5.1%

2,049 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.8.28%
Vanguard Capital Management LLC6.60%
State Street Corporation4.69%
Capital World Investors3.80%
Wellington Management Group, LLP3.56%
Capital International Investors3.30%
Geode Capital Management, LLC2.83%
Price (T.Rowe) Associates Inc2.82%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.16×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend16.5% → 15.4%

Margin has held broadly steady over the period — stable profitability.

Return on equity27.2%

Latest ROE of 27.2% — capital is generating a healthy return.

Growth qualityrev 9% · PAT 5%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $8.0B · EPS 3.58

Est. earnings growth +8.7%

Next fiscal year

Rev $30.1B · EPS 11.46

Est. earnings growth +9.4%

Analyst consensus estimates — not the company's own guidance.

New to these terms?

P/E ROE ROCE Margins Market cap

Browse the Learn hub →

Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$27.0B

Net margin

15.4%

ROE

27.2%

Revenue CAGR (2y)

+8.9%

Profit CAGR (2y)

+5.2%

EPS (FY2025)

8.43

Net profit (FY2025)

$4.2B

Ask MarketChacha about MRSH

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$27.0B	$4.2B	8.43	15.4%	27.2%
FY2024	$24.5B	$4.1B	8.18	16.6%	30.0%
FY2023	$22.7B	$3.8B	7.53	16.5%	30.4%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$7.4B	$1.3B	2.63	17.1%
2026Q1	$7.6B	$1.1B	2.36	15.1%
2025Q3	$6.4B	$747.0M	1.51	11.8%
2025Q2	$7.0B	$1.2B	2.45	17.4%
2025Q1	$7.1B	$1.4B	2.79	19.6%
2024Q3	$5.7B	$747.0M	1.51	13.1%
2024Q2	$6.2B	$1.1B	2.27	18.1%
2024Q1	$6.5B	$1.4B	2.82	21.6%
2023Q3	$5.4B	$730.0M	1.47	13.6%
2023Q2	$5.9B	$1.0B	2.07	17.6%
2023Q1	$5.9B	$1.2B	2.47	20.8%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Results of operations, Exhibits
SEC7/21/2026material
10-Q filing
SEC7/21/2026
8-K — Material agreement, Termination of agreement, Exhibits
SEC6/4/2026material
8-K — Shareholder vote results
SEC5/22/2026material
8-K — Results of operations, Exhibits
SEC4/16/2026material
10-Q filing
SEC4/16/2026
8-K — Executive/director change, Exhibits
SEC4/14/2026material
8-K — Executive/director change
SEC3/10/2026material
8-K — Executive/director change
SEC2/25/2026material
8-K — Other events, Exhibits
SEC2/19/2026material
10-K filing
SEC2/9/2026
8-K — Results of operations, Exhibits
SEC1/29/2026material
8-K — Bylaw/charter change
SEC1/14/2026material

2025

8-K — Results of operations, Exhibits
SEC10/16/2025material
10-Q filing
SEC10/16/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.