Marsh
MRSH
173.66
+1.92
+1.12%
Marsh
US · MRSH
#268 by market cap
Listed 1970
173.66
+1.92
+1.12%
Live - 5344 symbols - heartbeat 154s ago
· 2026-10-08 08:33
Pre-market
173.66
0.00%
After-hours
173.66
0.00%
Overnight
173.68
+0.01%
- Market cap
- 82.87B
- P/E (TTM)i
- 21.20
- P/Bi
- 5.46
- EPSi
- 8.43
- Div yieldi
- 2.07%
- 52W posi
- 39%
Reader sentiment
Are you bullish or bearish on MRSH?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Fair
- Altman Z-Score is 2.66, in the 1.8-3.0 "grey zone".
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +10.32% YoY
Margins
- Gross margin
- 42.27%
- Operating margin
- 23.06%
- Net margin
- 15.42%
Key ratios & quality
- Enterprise valuei
- 100.11B
- PEG ratioi
- 1.95
- Altman Z-Scorei
- 2.66
PEG uses trailing P/E against the 3-year net income growth rate (10.90%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14.95B | 16.65B | 17.22B | 19.82B | 20.72B | 22.74B | 24.46B | 26.98B |
| Gross profit | 6.35B | 6.92B | 7.10B | 8.40B | 8.65B | 9.64B | 10.46B | 11.40B |
| Selling & admin expenses | -- | -- | -- | -- | -- | -- | -- | -- |
| Research & development | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating profit | 2.76B | 2.68B | 3.07B | 4.31B | 4.28B | 5.28B | 5.82B | 6.22B |
| Pretax profit | 2.24B | 2.44B | 2.79B | 4.21B | 4.08B | 5.03B | 5.48B | 5.54B |
| Tax | 574.00M | 666.00M | 747.00M | 1.03B | 995.00M | 1.22B | 1.36B | 1.31B |
| Net profit | 1.67B | 1.77B | 2.05B | 3.17B | 3.09B | 3.80B | 4.12B | 4.23B |
| Basic EPS | 3 | 3 | 4 | 6 | 6 | 8 | 8 | 8 |
| Diluted EPS | 3.23 | 3.41 | 3.94 | 6.13 | 6.04 | 7.53 | 8.18 | 8.43 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 7.06B | 6.97B | 6.35B | 6.60B | 7.60B | 7.40B |
| Gross profit | 3.21B | 3.08B | 2.46B | 2.66B | 3.47B | 3.26B |
| Selling & admin expenses | -- | -- | -- | -- | -- | -- |
| Research & development | -- | -- | -- | -- | -- | -- |
| Operating profit | 2.01B | 1.83B | 1.17B | 1.22B | 1.75B | 1.90B |
| Pretax profit | 1.83B | 1.65B | 1.01B | 1.06B | 1.58B | 1.70B |
| Tax | 415.00M | 415.00M | 253.00M | 222.00M | 395.00M | 411.00M |
| Net profit | 1.41B | 1.23B | 757.00M | 834.00M | 1.19B | 1.29B |
| Basic EPS | 3 | 2 | 2 | 2 | 2 | 3 |
| Diluted EPS | 2.79 | 2.45 | 1.51 | 1.68 | 2.36 | 2.63 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 5.93B | 7.07B | 8.16B | 8.26B | 18.96B | 21.75B | 22.12B | 23.20B |
| Cash & ST investments | 1.07B | 1.16B | 2.09B | 1.75B | 1.44B | 3.36B | 2.40B | 2.69B |
| Inventory | -- | -- | -- | -- | -- | -- | -- | -- |
| Total assets | 21.58B | 31.36B | 33.05B | 34.39B | 44.11B | 48.03B | 56.48B | 58.71B |
| Total current liabilities | 4.92B | 6.68B | 6.56B | 6.65B | 17.83B | 19.80B | 19.52B | 21.06B |
| Short-term debt | 314.00M | 1.56B | 859.00M | 349.00M | 578.00M | 1.93B | 844.00M | 1.60B |
| Long-term debt | 5.51B | 10.74B | 10.80B | 10.93B | 11.23B | 11.84B | 19.43B | 18.32B |
| Total liabilities | 13,994,000,000.00 | 23,414,000,000.00 | 23,789,000,000.00 | 23,166,000,000.00 | 33,365,000,000.00 | 35,660,000,000.00 | 42,946,000,000.00 | 43,395,000,000.00 |
| Total equity | 7.58B | 7.94B | 9.26B | 11.22B | 10.75B | 12.37B | 13.54B | 15.32B |
| Retained earnings | 14.35B | 15.20B | 16.27B | 18.39B | 20.30B | 22.76B | 25.31B | 27.77B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 22.46B | 23.33B | 23.70B | 23.20B | 23.24B | 24.33B |
| Cash & ST investments | 1.60B | 1.68B | 2.51B | 2.69B | 1.61B | 1.70B |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 57.02B | 58.56B | 58.78B | 58.71B | 58.55B | 59.68B |
| Total current liabilities | 19.78B | 19.40B | 21.10B | 21.06B | 20.91B | 21.36B |
| Short-term debt | 1.99B | 1.10B | 1.60B | 1.60B | 2.03B | 2.00B |
| Long-term debt | 18.86B | 18.96B | 18.32B | 18.32B | 18.90B | 18.89B |
| Total liabilities | 42,747,000,000.00 | 42,579,000,000.00 | 43,424,000,000.00 | 43,395,000,000.00 | 43,746,000,000.00 | 44,249,000,000.00 |
| Total equity | 14.27B | 15.98B | 15.36B | 15.32B | 14.81B | 15.43B |
| Retained earnings | 25.88B | 27.09B | 26.95B | 27.77B | 28.04B | 29.30B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.43B | 2.36B | 3.38B | 3.52B | 3.47B | 4.26B | 4.30B | 5.29B |
| Depreciation & amortization | 494.00M | 647.00M | 741.00M | 747.00M | 719.00M | 713.00M | 746.00M | 910.00M |
| Free cash flow | 2.11B | 1.94B | 3.03B | 3.11B | 3.00B | 3.84B | 3.99B | 5.00B |
| Dividends paid | -807.00M | -890.00M | -943.00M | -1.03B | -1.14B | -1.30B | -1.51B | -1.70B |
| Stock buybacks / issuance | -649.00M | -416.00M | 0 | -998.00M | -1.82B | -951.00M | -636.00M | -1.76B |
| Ending cash balance | 1.07B | 8.50B | 10.67B | 11.37B | 12.10B | 14.15B | 13.67B | 14.16B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | -622.00M | 1.67B | 2.08B | 2.16B | -688.00M | 1.52B |
| Depreciation & amortization | 227.00M | 231.00M | 224.00M | 228.00M | 227.00M | 227.00M |
| Free cash flow | -677.00M | 1.61B | 2.01B | 2.06B | -750.00M | 1.45B |
| Dividends paid | -405.00M | -405.00M | -445.00M | -444.00M | -440.00M | -438.00M |
| Stock buybacks / issuance | -172.00M | -395.00M | -371.00M | -824.00M | -692.00M | -852.00M |
| Ending cash balance | 13.18B | 13.55B | 14.51B | 14.16B | 13.36B | 13.90B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 22.19 | 22.77 | 23.86 | 31.25 | 28.33 | 33.08 | 31.80 | 29.25 |
| ROA %i | 7.86 | 6.58 | 6.26 | 9.32 | 8.99 | 9.22 | 7.77 | 7.22 |
| ROIC %i | 14.19 | 11.85 | 10.69 | 14.84 | 14.09 | 16.02 | 14.40 | 13.54 |
| 5-year avg ROE %i | 23.04 | 23.68 | 23.73 | 24.42 | 25.68 | 27.86 | 29.67 | 30.74 |
| EBIT margin %i | 16.95 | 17.79 | 19.21 | 23.47 | 21.96 | 24.65 | 25.27 | 24.09 |
| FCF / sales %i | 14.14 | 11.65 | 17.62 | 15.69 | 14.45 | 16.90 | 16.30 | 18.54 |
| Current ratioi | 1.21 | 1.06 | 1.24 | 1.24 | 1.06 | 1.10 | 1.13 | 1.10 |
| Quick ratioi | 1.09 | 0.96 | 1.13 | 1.10 | 0.41 | 0.49 | 0.49 | 0.49 |
| Debt / assetsi | 26.99 | 45.36 | 41.09 | 38.28 | 30.54 | 32.14 | 38.71 | 36.53 |
| LT debt / equityi | 73.36 | 162.54 | 139.72 | 116.39 | 122.57 | 110.78 | 157.53 | 131.45 |
| Interest coveragei | 8.74 | 5.65 | 6.42 | 10.48 | 9.70 | 9.70 | 8.83 | 6.77 |
| Revenue CAGR (3Y) %i | 5.06 | 8.02 | 7.09 | 9.86 | 7.56 | 9.70 | 7.26 | 9.20 |
| Net income CAGR (3Y) %i | 1.05 | -0.49 | 10.55 | 23.96 | 20.53 | 23.05 | 8.91 | 10.90 |
| FCF CAGR (3Y) %i | 10.59 | 3.42 | 24.01 | 13.73 | 15.58 | 8.19 | 8.62 | 18.64 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 30.51 | 28.33 | 28.62 | 29.25 | 27.42 | 25.72 |
| ROA %i | 7.73 | 7.70 | 7.60 | 7.22 | 6.79 | 6.73 |
| ROIC %i | 14.27 | 14.35 | 14.81 | 13.54 | 12.56 | 12.49 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 24.84 | 24.77 | 24.38 | 24.09 | 22.71 | 22.58 |
| FCF / sales %i | 16.68 | 18.04 | 18.24 | 18.54 | 17.91 | 17.06 |
| Current ratioi | 1.14 | 1.20 | 1.12 | 1.10 | 1.11 | 1.14 |
| Quick ratioi | 0.48 | 0.52 | 0.49 | 0.49 | 0.48 | 0.50 |
| Debt / assetsi | 39.32 | 36.91 | 36.45 | 36.53 | 38.34 | 37.50 |
| LT debt / equityi | 145.22 | 130.06 | 130.87 | 131.45 | 140.18 | 134.26 |
| Interest coveragei | 7.92 | 7.32 | 6.74 | 6.77 | 6.54 | 6.56 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Risk and Insurance Services is the largest reported line at 65.14% of revenue, across 3 reported segments.
- Consulting follows at 35.14%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Risk and Insurance Services65.14%
Consulting35.14%
Quote time 2026-10-08 08:33:29 · For reference only, not investment advice and not tailored to your situation.