MARSH & MCLENNAN COMPANIES, INC.MRSHEarnings & Financial Report
Marsh & McLennan Companies, Inc., doing business as Marsh McLennan and Marsh, is a global professional services firm, headquartered in New York City with businesses in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting. Its four main operating companies are Marsh, which offers risk management, insurance broking, insurance program management, risk consulting, analytical modeling and alternative risk financing services; ...
MRSH Q4 2025 Key Financial Metrics
Revenue
$6.6B
Gross Profit
N/A
Operating Profit
$1.2B
Net Profit
$821.0M
Gross Margin
N/A
Operating Margin
18.5%
Net Margin
12.4%
YoY Growth
8.7%
EPS
$1.68
Financial Flow
MARSH & MCLENNAN COMPANIES, INC. Q4 2025 Financial Summary
MARSH & MCLENNAN COMPANIES, INC. reported revenue of $6.6B (up 8.7% YoY) for Q4 2025, with a net profit of $821.0M (up 4.2% YoY) (12.4% margin). Cost of goods sold was N/A.
Key Financial Metrics
| Total Revenue | $6.6B |
|---|---|
| Net Profit | $821.0M |
| Gross Margin | N/A |
| Operating Margin | 18.5% |
| Report Period | Q4 2025 |
Revenue Breakdown
MARSH & MCLENNAN COMPANIES, INC. Q4 2025 revenue of $6.6B breaks down across 4 segments, led by Marsh Insurance Group at $3.6B (54.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Marsh Insurance Group | $3.6B | 54.5% |
| Consulting Segment | $2.6B | 40.1% |
| Guy Carpenter Reinsurance Group | $179.0M | 2.7% |
| Other | $175.0M | 2.7% |
MARSH & MCLENNAN COMPANIES, INC. Revenue by Segment — Quarterly Trend
MARSH & MCLENNAN COMPANIES, INC. revenue by segment across the last 4 reported quarters, showing how each business line (such as Marsh Insurance Group and Consulting Segment) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Marsh Insurance Group | $3.6B | $3.4B | $3.8B | — |
| Consulting Segment | $2.6B | — | — | — |
| Guy Carpenter Reinsurance Group | $179.0M | $398.0M | $677.0M | $1.2B |
| Other | $175.0M | — | — | — |
MARSH & MCLENNAN COMPANIES, INC. Annual Revenue by Year
MARSH & MCLENNAN COMPANIES, INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $27.0B). Click any linked year to see what changed vs the prior annual report.
MARSH & MCLENNAN COMPANIES, INC. Quarterly Revenue & Net Profit History
MARSH & MCLENNAN COMPANIES, INC. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $6.6B | +8.7% | $821.0M | 12.4% |
| Q3 2025 | $6.4B | +11.5% | $747.0M | 11.8% |
| Q2 2025 | $7.0B | +12.1% | $1.2B | 17.4% |
| Q1 2025 | $7.1B | +9.1% | $1.4B | 19.6% |
| Q4 2024 | $6.1B | +9.2% | $788.0M | 13.0% |
| Q3 2024 | $5.7B | +5.9% | $747.0M | 13.1% |
| Q2 2024 | $6.2B | +5.9% | $1.1B | 18.1% |
| Q1 2024 | $6.5B | +9.3% | $1.4B | 21.6% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.47B | $6.22B | $5.70B | $6.07B | $7.06B | $6.97B | $6.35B | $6.59B |
| YoY Growth | 9.3% | 5.9% | 5.9% | 9.2% | 9.1% | 12.1% | 11.5% | 8.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $47.57B | $48.59B | $49.86B | $56.48B | $57.02B | $58.55B | $58.78B | $58.71B |
| Liabilities | $34.95B | $35.03B | $35.98B | $42.95B | $42.75B | $42.58B | $43.42B | $43.40B |
| Equity | $12.62B | $13.56B | $13.88B | $13.54B | $14.27B | $15.98B | $15.36B | $15.31B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-781.0M | $1.22B | $1.91B | $1.96B | $-622.0M | $1.67B | $2.08B | $2.16B |