MMC

Marsh McLennan

Financials

Insurance Brokers

New York City, New York

Last filing: Feb 9, 2026 (FY2025)

Balance Sheet 8 Accounts • 5 Years

Account	2025	2024	2023	2022	2021
BS_Assets_Cash	$0	$2.4B	$3.4B	$1.4B	$1.8B
BS_Assets_AcctsReceivable	$0	$7.2B	$6.4B	$5.9B	$5.6B
BS_Assets_PPE	$0	$859.0M	$882.0M	$871.0M	$847.0M
BS_Assets_IntangibleAssets	$0	$4.8B	$2.6B	$2.5B	$2.8B
BS_Liab_AccruedLiab	$0	$3.6B	$3.3B	$3.1B	$2.9B
BS_Equity_TreasuryStock	$2.0B	$7.7B	$7.1B	$6.2B	$1.2B
BS_Equity_AOCI	$0	$-6.2B	$-5.3B	$-5.3B	$-4.6B
BS_Equity_NCI	$74.0M	$193.0M	$179.0M	$229.0M	$213.0M

Income Statement 15 Accounts • 5 Years

Account	2025	2024	2023	2022	2021
IS_Expense_DA	$361.0M	$369.0M	$370.0M	$381.0M	$747.0M
IS_Expense_SBC	$394.0M	$368.0M	$363.0M	$367.0M	$348.0M
IS_Expense_Restructuring	$222.0M	$276.0M	$301.0M	$427.0M	$70.0M
IS_Expense_TotalOpex	$20.8B	$18.6B	$17.5B	$16.4B	$15.5B
IS_OperatingIncome	$6.2B	$5.8B	$5.3B	$4.3B	$4.3B
IS_InterestIncome	$48.0M	$83.0M	$78.0M	$15.0M	$2.0M
IS_OtherNonopIncExp	$34.0M	$12.0M	$5.0M	$21.0M	$61.0M
IS_PreTaxIncome	$5.5B	$5.5B	$5.0B	$4.1B	$4.2B
IS_TaxExpense	$1.3B	$1.4B	$1.2B	$995.0M	$1.0B
IS_NetIncome	$4.2B	$4.1B	$3.8B	$3.0B	$3.1B
IS_ComprehensiveIncome	$5.0B	$3.1B	$3.8B	$2.3B	$3.7B
IS_EPS_Basic	$8	$8	$8	$6	$6
IS_EPS_Diluted	$8	$8	$8	$6	$6
IS_Shares_Basic	$491.0M	$492.0M	$494.0M	$499.0M	$507.0M
IS_Shares_Diluted	$494.0M	$496.0M	$499.0M	$505.0M	$513.0M

Cash Flow Statement 19 Accounts • 5 Years

Account	2025	2024	2023	2022	2021
CF_Ops_NetIncome	$4.2B	$4.1B	$3.8B	$3.0B	$3.1B
CF_Ops_DA	$361.0M	$369.0M	$370.0M	$381.0M	$747.0M
CF_Ops_SBC	$394.0M	$368.0M	$363.0M	$367.0M	$348.0M
CF_Ops_DeferredTax	$123.0M	$157.0M	$-29.0M	$-43.0M	$-63.0M
CF_Ops_WorkingCapital	$-335.0M	$-309.0M	$-316.0M	$0	$0
CF_Ops_Other	$93.0M	$55.0M	$64.0M	$193.0M	$358.0M
CF_Ops_NetCash	$5.3B	$4.3B	$4.3B	$3.5B	$3.5B
CF_Inv_Capex	$291.0M	$316.0M	$416.0M	$470.0M	$406.0M
CF_Inv_Acquisitions	$652.0M	$8.5B	$976.0M	$572.0M	$-859.0M
CF_Inv_Other	$-2.0M	$-1.0M	$-11.0M	$-9.0M	$-4.0M
CF_Inv_NetCash	$-845.0M	$-8.8B	$-1.4B	$-850.0M	$-1.2B
CF_Fin_DebtRepayment	$519.0M	$1.6B	$266.0M	$365.0M	$1.0B
CF_Fin_ShareRepurchases	$2.0B	$900.0M	$1.1B	$1.9B	$1.2B
CF_Fin_Dividends	$1.7B	$1.5B	$1.3B	$1.1B	$1.0B
CF_Fin_StockIssuance	$147.0M	$137.0M	$116.0M	$50.0M	$103.0M
CF_Fin_TaxWithholding	$148.0M	$180.0M	$148.0M	$198.0M	$101.0M
CF_Fin_NetCash	$-4.6B	$4.5B	$-1.1B	$-1.0B	$-1.3B
CF_FX_Effect	$673.0M	$-414.0M	$328.0M	$-841.0M	$-355.0M
CF_Net_Change	$486.0M	$-478.0M	$2.0B	$728.0M	$700.0M

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