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Financials · S&P 500 · data as of 2026-10-05

MRSH stock analysis: Marsh McLennan

Marsh McLennan (MRSH) is an S&P 500 company in Insurance Brokers. It grades weakest on momentum, value and growth.

The model's view of MRSH · subscribers

Where MRSH ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with MRSH · updated 2026-10-05 · from prices and SEC filings

MRSH price performance

MRSH against the S&P 500, one year
-20%+0%+20%S&P 500 +18%MRSH -13%2025-09-292026-10-05
Year to date-6.2%S&P 500 +14.5% · behind by 20.7 pts
1 year-13.4%S&P 500 +17.0% · behind by 30.5 pts
3 years-6.5%S&P 500 +89.3% · behind by 95.7 pts
5 years+19.9%S&P 500 +91.3% · behind by 71.4 pts

Total returns with dividends reinvested.

MRSH factor grades

Each grade compares MRSH with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

D+ValueP/E 20.8x (industry 19.2x)FCF yield 5.9% (industry 5.7%)
D+GrowthRevenue growth +8% (industry +7%)EPS growth -2% (industry -2%)
C+ProfitabilityOperating margin 21.6% (industry 21.9%)ROIC 13.4% (industry 14.9%)
C-Momentum12-month change -13%From 52-wk high -16%

MRSH in plain numbers

MRSH key statistics

SectorFinancials
IndustryInsurance Brokers
IndexS&P 500
Market value$81.3B
Revenue growth (y/y)+8%
Free-cash-flow yield5.9%
Dividend yield2.2%
Next earnings (expected)2026-10-15
Valuation measures
Market value$81.3B
Enterprise value$100.2B
P/E (trailing)20.8x
Forward P/E (Torvanta estimate)19.7x
PEG (Torvanta estimate)3.32
Price / sales2.9x
Price / book5.3x
EV / revenue3.6x
EV / EBITDA15.6x
Financial highlights
Revenue, last 12 months$27.9B
Net income, last 12 months$4.0B
EPS, last 12 months (GAAP)$8.18
Operating margin21.6%
Net margin14.2%
Return on equity25.3%
Return on invested capital13.4%
Cash$1.7B
Total debt$20.6B
Debt / equity1.33x
Free cash flow, last 12 months$4.8B
Interest cover6.3x
Current ratio1.14x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

MRSH earnings trends

Revenue vs earnings
$0$1.9B$3.8B$5.7B$7.6BSep 2024 Revenue: $5.7BDec 2024 Revenue: $6.1BMar 2025 Revenue: $7.1BJun 2025 Revenue: $7.0BSep 2025 Revenue: $6.4BDec 2025 Revenue: $6.6BMar 2026 Revenue: $7.6BJun 2026 Revenue: $7.4BSep 2024 Net income: $747.0MDec 2024 Net income: $788.0MMar 2025 Net income: $1.4BJun 2025 Net income: $1.2BSep 2025 Net income: $747.0MDec 2025 Net income: $821.0MMar 2026 Net income: $1.1BJun 2026 Net income: $1.3BSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 13.1%Net margin: 13.0%Net margin: 19.6%Net margin: 17.4%Net margin: 11.8%Net margin: 12.4%Net margin: 15.1%Net margin: 17.1%0%10%20%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.7$1.4$2.1$2.8Sep 2024 EPS (GAAP, diluted): $1.5Dec 2024 EPS (GAAP, diluted): $1.6Mar 2025 EPS (GAAP, diluted): $2.8Jun 2025 EPS (GAAP, diluted): $2.5Sep 2025 EPS (GAAP, diluted): $1.5Dec 2025 EPS (GAAP, diluted): $1.7Mar 2026 EPS (GAAP, diluted): $2.4Jun 2026 EPS (GAAP, diluted): $2.6Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 0% · Dec 2025 +6% · Mar 2026 -15% · Jun 2026 +7%

From the company's 10-Q and 10-K filings with the SEC.

Marsh McLennan financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$19.8B$20.7B$22.7B$24.5B$27.0B
Net income$3.1B$3.0B$3.8B$4.1B$4.2B
EPS (GAAP)$6.13$6.02$7.53$8.19$8.43
Free cash flow$3.1B$3.0B$3.8B$4.0B$5.0B

MRSH earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-21$2.63+7%+6%-4.1%
2026-04-16$2.36-15%+8%-0.9%
2026-01-29$1.68+6%+9%+6.6%
2025-10-16$1.510%+11%-6.9%
2025-07-17$2.45+8%+12%-0.4%
2025-04-17$2.79-1%+9%-6.1%

About Marsh McLennan

HeadquartersNew York, NY
Industry (SEC code)Insurance Agents, Brokers & Service
Fiscal year endsDecember 31
Incorporated inDE
Listed onNYSE
FormerlyMARSH & MCLENNAN COMPANIES INC

From the company's SEC registration record.

Companies similar to MRSH

CompanyMarket valueP/ERevenue growthOperating margin12-month change
MRSH Marsh McLennan$81.3B20.8x+8%21.6%-13%
AJG Arthur J. Gallagher$58.2B37.7x+26%n/a-26%compare
AON Aon$57.7B15.0x+5%26.5%-25%compare
WTW Willis Towers Watson$26.8B17.8x+3%22.2%-16%compare
BRO Brown & Brown$20.4B19.2x+34%n/a-35%
ERIE Erie Indemnityn/an/a+4%17.9%-29%

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Frequently asked questions

Is MRSH stock a buy?

Torvanta does not tell individuals what to buy. Its grades for MRSH are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is MRSH's P/E ratio?

MRSH trades at about 20.8 times its last 12 months of GAAP earnings reported to the SEC, and about 19.7 times Torvanta's own estimate of the next 12 months.

When does MRSH report earnings next?

Based on its filing history, Torvanta expects Marsh McLennan to report around 2026-10-15.

Does MRSH pay a dividend?

Yes. Its dividend yield is about 2.2%, and it has raised its dividend 16 years in a row.

How has MRSH performed against the S&P 500?

Over the past year MRSH returned -13.4%, against +17.0% for the S&P 500, dividends reinvested.

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Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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