8-K Announcements
6Apr 16, 2026·SEC
Apr 14, 2026·SEC
Mar 10, 2026·SEC
Marsh & McLennan Companies, Inc. (MMC) fundamental analysis — strengths, weaknesses & financial health based on data analysis
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Marsh & McLennan Companies, Inc. (MMC) stock price & volume — 10-year historical chart
Marsh & McLennan Companies, Inc. (MMC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Marsh & McLennan Companies, Inc. (MMC) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Jan 29, 2026 | $1.87vs $1.97-5.1% | $6.6Bvs $6.6B+0.7% |
| Q4 2025 | Oct 16, 2025 | $1.85vs $1.78+3.9% | $6.4Bvs $6.3B+0.4% |
| Q3 2025 | Jul 17, 2025 | $2.72vs $2.67+1.9% | $7.0Bvs $6.9B+0.5% |
| Q2 2025 | Apr 17, 2025 | $3.06vs $3.02+1.3% | $7.1Bvs $7.1B-0.2% |
Marsh & McLennan Companies, Inc. (MMC) competitors in Commercial insurance brokerages — business model, growth, and fundamentals comparison
Marsh & McLennan Companies, Inc. (MMC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Marsh & McLennan Companies, Inc. (MMC) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 13.21B | 14.02B | 14.95B | 16.65B | 17.22B | 19.82B | 20.72B | 22.74B | 24.46B | 26.45B |
| Revenue Growth % | 2.47% | 6.15% | 6.6% | 11.38% | 3.44% | 15.07% | 4.54% | 9.73% | 7.57% | 10.47% |
| Medical Costs & Claims | 7.69B | 8.09B | 8.61B | 9.73B | 10.13B | 11.43B | 12.07B | 13.1B | 14B | 15.27B |
| Medical Cost Ratio % | 58.24% | 57.65% | 57.56% | 58.46% | 58.81% | 57.64% | 58.26% | 57.61% | 57.22% | 57.72% |
| Gross Profit | 5.52B▲ 0% | 5.94B▲ 7.6% | 6.34B▲ 6.8% | 6.92B▲ 9.0% | 7.09B▲ 2.6% | 8.39B▲ 18.3% | 8.65B▲ 3.0% | 9.64B▲ 11.4% | 10.46B▲ 8.6% | 11.18B▲ 0% |
| Gross Margin % | 41.76% | 42.35% | 42.44% | 41.54% | 41.19% | 42.36% | 41.74% | 42.39% | 42.78% | 42.28% |
| Gross Profit Growth % | -0.76% | 7.65% | 6.84% | 9.03% | 2.56% | 18.32% | 3.03% | 11.42% | 8.56% | - |
| Operating Expenses | 3.09B | 3.28B | 3.58B | 4.24B | 4.03B | 4.08B | 4.37B | 4.36B | 4.64B | 5.04B |
| OpEx / Revenue % | 23.36% | 23.42% | 23.97% | 25.47% | 23.39% | 20.6% | 21.09% | 19.15% | 18.99% | 19.05% |
| Depreciation & Amortization | 438M | 481M | 494M | 647M | 741M | 747M | 719M | 713M | 746M | 883M |
| Combined Ratio % | 81.6% | 81.07% | 81.53% | 83.92% | 82.2% | 78.24% | 79.34% | 76.77% | 76.22% | 76.77% |
| Operating Income | 2.43B▲ 0% | 2.65B▲ 9.2% | 2.76B▲ 4.0% | 2.68B▼ 3.0% | 3.07B▲ 14.5% | 4.31B▲ 40.6% | 4.28B▼ 0.7% | 5.28B▲ 23.4% | 5.82B▲ 10.1% | 6.15B▲ 0% |
| Operating Margin % | 18.4% | 18.93% | 18.47% | 16.08% | 17.8% | 21.76% | 20.66% | 23.23% | 23.78% | 23.23% |
| Operating Income Growth % | 0.5% | 9.21% | 3.99% | -3.04% | 14.53% | 40.64% | -0.74% | 23.41% | 10.13% | - |
| EBITDA | 2.87B | 3.14B | 3.25B | 3.32B | 3.81B | 5.06B | 5B | 6B | 6.56B | 7.03B |
| EBITDA Margin % | 21.72% | 22.36% | 21.77% | 19.96% | 22.1% | 25.52% | 24.13% | 26.37% | 26.83% | 26.57% |
| Interest Expense | 189M | 237M | 290M | 524M | 515M | 444M | 469M | 578M | 700M | 956M |
| Non-Operating Income | -238M | -225M | 227M | -286M | -242M | -340M | -271M | -322M | -363M | -302M |
| Pretax Income | 2.48B▲ 0% | 2.64B▲ 6.6% | 2.24B▼ 15.1% | 2.44B▲ 8.7% | 2.79B▲ 14.5% | 4.21B▲ 50.7% | 4.08B▼ 3.0% | 5.03B▲ 23.1% | 5.48B▲ 9.0% | 5.49B▲ 0% |
| Pretax Margin % | 18.77% | 18.85% | 15.01% | 14.65% | 16.22% | 21.23% | 19.7% | 22.11% | 22.41% | 20.76% |
| Income Tax | 685M | 1.13B | 574M | 666M | 747M | 1.03B | 995M | 1.22B | 1.36B | 1.29B |
| Effective Tax Rate % | 27.62% | 42.87% | 25.58% | 27.31% | 26.75% | 24.57% | 24.38% | 24.35% | 24.87% | 23.51% |
| Net Income | 1.77B▲ 0% | 1.49B▼ 15.6% | 1.65B▲ 10.6% | 1.74B▲ 5.6% | 2.02B▲ 15.7% | 3.14B▲ 55.9% | 3.05B▼ 3.0% | 3.76B▲ 23.1% | 4.06B▲ 8.1% | 4.13B▲ 0% |
| Net Margin % | 13.38% | 10.64% | 11.04% | 10.46% | 11.7% | 15.86% | 14.72% | 16.52% | 16.6% | 15.6% |
| Net Income Growth % | 10.57% | -15.61% | 10.59% | 5.58% | 15.73% | 55.9% | -2.96% | 23.15% | 8.09% | 2.46% |
| EPS (Diluted) | 3.37▲ 0% | 2.87▼ 14.8% | 3.23▲ 12.5% | 3.41▲ 5.6% | 3.94▲ 15.5% | 6.13▲ 55.6% | 6.04▼ 1.5% | 7.53▲ 24.7% | 8.18▲ 8.6% | 8.35▲ 0% |
| EPS Growth % | 13.09% | -14.84% | 12.54% | 5.57% | 15.54% | 55.58% | -1.47% | 24.67% | 8.63% | 2.71% |
| EPS (Basic) | 3.41 | 2.91 | 3.26 | 3.44 | 3.98 | 6.20 | 6.11 | 7.60 | 8.25 | - |
| Diluted Shares Outstanding | 524M | 519M | 511M | 511M | 512M | 513M | 505M | 499M | 496M | 494M |
Marsh & McLennan Companies, Inc. (MMC) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 18.19B | 20.43B | 21.58B | 31.32B | 33.03B | 34.39B | 33.45B | 48.03B | 56.48B | 58.78B |
| Asset Growth % | -0.14% | 12.31% | 5.62% | 45.13% | 5.47% | 4.11% | -2.72% | 43.57% | 17.6% | 75.84% |
| Total Investment Assets | 619M | 720M | 661M | 1.63B | 1.77B | 2.27B | 377M | 449M | 541M | 3M |
| Long-Term Investments | 619M | 720M | 661M | 1.63B | 1.77B | 2.27B | 377M | 449M | 541M | 1.5B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 4.88B | 5.56B | 5.93B | 7.07B | 8.12B | 8.26B | 8.3B | 21.75B | 22.12B | 23.7B |
| Cash & Equivalents | 1.03B | 1.21B | 1.07B | 1.16B | 2.09B | 1.75B | 1.44B | 3.36B | 2.4B | 2.51B |
| Receivables | 3.64B | 4.13B | 4.32B | 5.24B | 5.33B | 5.59B | 5.85B | 6.42B | 7.16B | 31.56B |
| Other Current Assets | 215M | 224M | 551M | 677M | 701M | 926M | 1B | 11.97B | 12.56B | 13.11B |
| Goodwill & Intangibles | 9.49B | 10.36B | 11.04B | 17.41B | 18.22B | 19.13B | 18.79B | 19.86B | 28.13B | 113.71B |
| Goodwill | 8.37B | 9.09B | 9.6B | 14.67B | 15.52B | 16.32B | 16.25B | 17.23B | 23.31B | 23.95B |
| Intangible Assets | 1.13B | 1.27B | 1.44B | 2.77B | 2.7B | 2.81B | 2.54B | 2.63B | 4.82B | 4.67B |
| PP&E (Net) | 725M | 712M | 701M | 2.78B | 2.75B | 2.71B | 2.43B | 2.42B | 2.36B | 1.44B |
| Other Assets | 1.37B | 2.4B | 2.57B | 1.76B | 1.46B | 1.46B | 3.2B | 3.19B | 3.1B | 4.78B |
| Total Liabilities | 11.92B | 12.99B | 13.99B | 23.37B | 23.77B | 23.17B | 22.7B | 35.66B | 42.95B | 43.42B |
| Total Debt | 4.81B | 5.49B | 5.82B | 14.22B | 13.58B | 13.16B | 13.47B | 15.44B | 21.86B | 21.43B |
| Net Debt | 3.78B | 4.28B | 4.76B | 13.07B | 11.49B | 11.41B | 12.03B | 12.08B | 19.46B | 18.91B |
| Long-Term Debt | 4.5B | 5.22B | 5.51B | 10.74B | 10.8B | 10.93B | 11.23B | 11.84B | 19.43B | 18.32B |
| Short-Term Debt | 312M | 262M | 314M | 1.22B | 517M | 17M | 268M | 1.62B | 519M | 1.26B |
| Total Current Liabilities | 4.08B | 4.26B | 4.92B | 6.68B | 6.56B | 6.65B | 17.83B | 19.8B | 19.52B | 21.1B |
| Accounts Payable | 1.97B | 2.08B | 2.23B | 2.75B | 3.05B | 3.17B | 3.28B | 3.4B | 3.4B | 3.35B |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.66B | 1.72B | 2.22B | 2.2B | 2.4B | 2.94B | 13.76B | 14.14B | 14.9B | 16.15B |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 3.34B | 3.5B | 3.56B | 4.03B | 4.53B | 3.7B | -8.02B | 2.36B | 2.41B | 2.5B |
| Total Equity | 6.27B▲ 0% | 7.44B▲ 18.7% | 7.57B▲ 1.8% | 7.94B▲ 4.9% | 9.26B▲ 16.6% | 11.22B▲ 21.2% | 10.75B▼ 4.2% | 12.37B▲ 15.1% | 13.54B▲ 9.4% | 15.36B▲ 0% |
| Equity Growth % | -5% | 18.65% | 1.77% | 4.87% | 16.58% | 21.19% | -4.21% | 15.08% | 9.42% | 50.87% |
| Shareholders Equity | 6.19B | 7.36B | 7.51B | 7.79B | 9.1B | 11.01B | 10.52B | 12.19B | 13.34B | 15.15B |
| Minority Interest | 80M | 83M | 73M | 150M | 156M | 213M | 229M | 179M | 193M | 206M |
| Retained Earnings | 12.39B | 13.14B | 14.35B | 15.2B | 16.27B | 18.39B | 20.3B | 22.76B | 25.31B | 26.95B |
| Common Stock | 561M | 561M | 561M | 561M | 561M | 561M | 561M | 561M | 561M | 561M |
| Accumulated OCI | -5.09B | -4.04B | -4.65B | -5.05B | -5.11B | -4.58B | -5.31B | -5.29B | -6.24B | -5.44B |
| Return on Equity (ROE) | 27.47% | 21.76% | 21.98% | 22.45% | 23.44% | 30.69% | 27.76% | 32.49% | 31.35% | 26.87% |
| Return on Assets (ROA) | 9.71% | 7.73% | 7.86% | 6.59% | 6.27% | 9.32% | 8.99% | 9.22% | 7.77% | 7.02% |
| Equity / Assets | 34.48% | 36.43% | 35.1% | 25.36% | 28.04% | 32.63% | 32.13% | 25.75% | 23.96% | 26.13% |
| Debt / Equity | 0.77x | 0.74x | 0.77x | 1.79x | 1.47x | 1.17x | 1.25x | 1.25x | 1.62x | 1.62x |
| Book Value per Share | 11.97 | 14.34 | 14.82 | 15.54 | 18.09 | 21.88 | 21.29 | 24.79 | 27.29 | 31.09 |
| Tangible BV per Share | -6.15 | -5.63 | -6.77 | -18.59 | -17.49 | -15.41 | -15.92 | -15.01 | -29.42 | -26.84 |
Marsh & McLennan Companies, Inc. (MMC) cash flow — operating, investing & free cash flow history
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 2.01B | 1.89B | 2.43B | 2.36B | 3.38B | 3.52B | 3.46B | 4.26B | 4.3B | 4.3B |
| Operating CF Growth % | 6.3% | -5.68% | 28.26% | -2.76% | 43.24% | 3.96% | -1.45% | 22.89% | 1.03% | 89.51% |
| Operating CF / Revenue % | 15.19% | 13.5% | 16.24% | 14.18% | 19.64% | 17.74% | 16.72% | 18.73% | 17.59% | 16.26% |
| Net Income | 1.79B | 1.51B | 1.67B | 1.77B | 2.05B | 3.17B | 3.09B | 3.8B | 4.06B | 4.13B |
| Depreciation & Amortization | 438M | 481M | 494M | 647M | 741M | 747M | 719M | 713M | 746M | 1.03B |
| Stock-Based Compensation | 109M | 149M | 193M | 252M | 290M | 348M | 367M | 363M | 368M | 442M |
| Deferred Taxes | 68M | 396M | -39M | 84M | 40M | -63M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -38M | -29M | 412M | 301M | 402M | -45M | 304M | 288M | 203M | -1.18B |
| Working Capital Changes | -365M | -616M | -302M | -696M | -137M | -645M | -1.01B | -908M | -1.07B | -594M |
| Cash from Investing | -1.06B | -956M | -1.09B | -4.39B | -793M | -1.16B | -850M | -1.42B | -8.82B | -7.97B |
| Capital Expenditures | -253M | -302M | -314M | -421M | -348M | -406M | -470M | -416M | -316M | -205M |
| Acquisitions | -813M | -655M | -774M | -4.23B | -570M | -775M | -453M | -993M | -8.45B | 0 |
| Purchase of Investments | 0 | -13M | 0 | 0 | 348M | 406M | -13M | -57M | -108M | -122M |
| Sale/Maturity of Investments | 1000K | 0 | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 4M |
| Other Investing | 8M | 14M | -5M | 255M | -327M | -406M | 0 | 11M | 1M | -1.08B |
| Cash from Financing | -1.07B | -1.01B | -1.31B | 4.33B | -925M | -1.3B | -1.05B | -1.12B | 4.46B | 3.44B |
| Dividends Paid | -682M | -740M | -807M | -880M | -943M | -1.03B | -1.14B | -1.3B | -1.51B | -1.71B |
| Share Repurchases | -839M | -949M | -742M | -574M | 0 | -1.16B | -1.95B | -1.15B | -900M | -825M |
| Stock Issued | 188M | 166M | 93M | 0 | 132M | 161M | 126M | 199M | 264M | 255M |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 0 |
| Other Financing | 69M | 8M | -54M | 675M | 664M | 1B | 1.62B | -426M | 51M | -842M |
| Net Change in Cash | -348M▲ 0% | 179M▲ 151.4% | -139M▼ 177.7% | 2.43B▲ 1849.6% | 2.17B▼ 10.6% | 700M▼ 67.8% | 728M▲ 4.0% | 2.05B▲ 181.6% | -478M▼ 123.3% | 369M▲ 0% |
| Exchange Rate Effect | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -1000K | 0 |
| Cash at Beginning | 1.37B | 1.03B | 1.21B | 6.07B | 8.5B | 10.67B | 11.37B | 12.1B | 14.15B | 13.72B |
| Cash at End | 1.03B | 1.21B | 1.07B | 8.5B | 10.67B | 11.37B | 12.1B | 14.15B | 13.67B | 14.51B |
| Free Cash Flow | 1.75B▲ 0% | 1.59B▼ 9.3% | 2.11B▲ 32.9% | 1.94B▼ 8.2% | 3.03B▲ 56.4% | 3.11B▲ 2.5% | 3B▼ 3.7% | 3.84B▲ 28.3% | 3.99B▲ 3.7% | 5.11B▲ 0% |
| FCF Growth % | 12.22% | -9.29% | 32.87% | -8.23% | 56.39% | 2.5% | -3.7% | 28.28% | 3.75% | 35.66% |
| FCF Margin % | 13.28% | 11.34% | 14.14% | 11.65% | 17.61% | 15.69% | 14.45% | 16.9% | 16.3% | 19.33% |
| FCF per Share | 3.35 | 3.07 | 4.14 | 3.8 | 5.93 | 6.06 | 5.93 | 7.7 | 8.04 | 8.04 |
Marsh & McLennan Companies, Inc. (MMC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Combined Ratio | 81.6% | 81.07% | 81.53% | 83.92% | 82.2% | 78.24% | 79.34% | 76.77% | 76.22% | 76.77% |
| Medical Cost Ratio | 58.24% | 57.65% | 57.56% | 58.46% | 58.81% | 57.64% | 58.26% | 57.61% | 57.22% | 57.72% |
| Return on Equity (ROE) | 27.47% | 21.76% | 21.98% | 22.45% | 23.44% | 30.69% | 27.76% | 32.49% | 31.35% | 26.87% |
| Return on Assets (ROA) | 9.71% | 7.73% | 7.86% | 6.59% | 6.27% | 9.32% | 8.99% | 9.22% | 7.77% | 7.02% |
| Equity / Assets | 34.48% | 36.43% | 35.1% | 25.36% | 28.04% | 32.63% | 32.13% | 25.75% | 23.96% | 26.13% |
| Book Value / Share | 11.97 | 14.34 | 14.82 | 15.54 | 18.09 | 21.88 | 21.29 | 24.79 | 27.29 | 31.09 |
| Debt / Equity | 0.77x | 0.74x | 0.77x | 1.79x | 1.47x | 1.17x | 1.25x | 1.25x | 1.62x | 1.62x |
| Revenue Growth | 2.47% | 6.15% | 6.6% | 11.38% | 3.44% | 15.07% | 4.54% | 9.73% | 7.57% | 10.47% |
Marsh & McLennan Companies, Inc. (MMC) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 16, 2026·SEC
Apr 14, 2026·SEC
Mar 10, 2026·SEC
Marsh & McLennan Companies, Inc. (MMC) stock FAQ — growth, dividends, profitability & financials explained
Marsh & McLennan Companies, Inc. (MMC) grew revenue by 7.6% over the past year. This is steady growth.
Yes, Marsh & McLennan Companies, Inc. (MMC) is profitable, generating $4.13B in net income for fiscal year 2024 (16.6% net margin).
Yes, Marsh & McLennan Companies, Inc. (MMC) pays a dividend with a yield of 1.75%. This makes it attractive for income-focused investors.
Marsh & McLennan Companies, Inc. (MMC) has a return on equity (ROE) of 31.3%. This is excellent, indicating efficient use of shareholder capital.
Marsh & McLennan Companies, Inc. (MMC) has a combined ratio of 76.2%. A ratio below 100% indicates underwriting profitability.
Marsh & McLennan Companies, Inc. (MMC) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates