Marsh McLennan

Financials Insurance Brokers New York City, New York Last filing Feb 9, 2026 · FY2025

                    Revenue
                    FY2025
                
Not reported
                    
                    No matching line (16 accounts checked)
                    
                    Net income
                    FY2025
                
$4.2B
                    
                    +2.5%
                    
                    Total assets
                    FY2025
                
$58.7B
                    ROA +7.1%
                    
                    P82
                    
                    +3.9%
                    
                    Operating cash flow
                    FY2025
                
$5.3B
                    
                    +23.0%

20 yrs · FY2006–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

33 accounts · 5 years

Total assets $58.7B

Total liabilities $21.1B

Shareholders equity $15.3B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	4.6%	4.2%	7.0%	4.3%	5.1%
Short Term Investments	0.0%	0.0%	0.0%	0.0%	0.0%
Accounts Receivable	13.1%	12.7%	13.4%	17.5%	16.2%
Prepaid Expenses	2.3%	2.3%	2.5%	3.0%	2.7%
Other Current Assets	2.3%	2.3%	2.5%	3.0%	2.7%
Total Current Assets	39.5%	39.2%	45.3%	24.8%	24.0%
Property,Plant and Equipment	1.4%	1.5%	1.8%	2.6%	2.5%
Operating Lease Assets	2.5%	2.7%	3.2%	4.7%	5.4%
Goodwill	41.5%	41.3%	35.9%	48.6%	47.4%
Intangible Assets	8.1%	8.5%	5.5%	7.6%	8.2%
Long Term Investments	0.5%	0.5%	0.6%	0.6%	0.6%
Deferred Tax Assets	0.4%	0.4%	0.7%	1.1%	1.6%
Other Noncurrent Assets	3.0%	3.1%	3.3%	4.3%	4.2%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	6.2%	6.0%	7.1%	9.8%	9.2%
Accrued Liabilities	6.7%	6.4%	7.0%	9.3%	8.6%
Current Portion of Long Term Debt	2.2%	0.9%	3.4%	0.8%	0.0%
Operating Lease Liabilities	0.6%	0.6%	0.6%	0.9%	1.0%
Other Current Liabilities	2.4%	2.2%	2.6%	4.1%	5.0%
Total Current Liabilities	35.9%	34.6%	41.2%	21.4%	19.3%
Long Term Debt	31.2%	34.4%	24.7%	33.6%	31.8%
Operating Lease Liabilities Noncurrent	2.6%	2.8%	3.5%	5.0%	5.5%
Other Noncurrent Liabilities	2.4%	2.2%	2.6%	4.1%	5.0%
Total Liabilities	35.9%	34.6%	41.2%	21.4%	19.3%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	1.0%	1.0%	1.2%	1.7%	1.6%
Additional Paid In Capital	2.6%	2.4%	2.6%	3.5%	3.2%
Retained Earnings	47.3%	44.8%	47.4%	60.7%	53.5%
Treasury Stock	15.9%	13.6%	14.7%	18.6%	3.5%
Accumulated Other Comprehensive Income	-9.2%	-11.0%	-11.0%	-15.9%	-13.3%
Noncontrolling Interest	0.4%	0.3%	0.4%	0.7%	0.6%
Total Stockholders Equity	26.1%	24.0%	25.8%	32.1%	32.6%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue Not reported

Operating income $6.2B

Net income $4.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Expenses Depreciation and Amortization	0.6%	0.7%	0.8%	1.1%	2.2%
Expenses Share Based Compensation	0.7%	0.7%	0.8%	1.1%	1.0%
Expenses Restructuring and Asset Impairment	0.4%	0.5%	0.6%	1.3%	0.2%
Expenses Operating Expenses	35.4%	33.0%	36.3%	49.1%	45.1%
Other Income Expense Operating Income	10.6%	10.3%	11.0%	12.8%	12.5%
Other Income Expense Interest Income	0.1%	0.1%	0.2%	0.0%	0.0%
Other Income Expense Other Income/expense	0.1%	0.0%	0.0%	0.1%	0.2%
Other Income Expense Income Before Tax	9.4%	9.7%	10.5%	12.2%	12.2%
Income Tax Income Tax Expense	2.2%	2.4%	2.5%	3.0%	3.0%
net Income net Income	7.1%	7.2%	7.8%	9.1%	9.1%
net Income Comprehensive Income	8.5%	5.5%	7.9%	6.9%	10.7%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.8%	0.9%	1.0%	1.5%	1.5%
Earnings Per Share Weighted Average Shares Diluted	0.8%	0.9%	1.0%	1.5%	1.5%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 5 years

Operating cash flow $5.3B

Investing cash flow $-845.0M

Financing cash flow $-4.6B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	7.1%	7.2%	7.8%	9.1%	9.1%
Operating Activities Depreciation and Amortization	0.6%	0.7%	0.8%	1.1%	2.2%
Operating Activities Stock Based Compensation	0.7%	0.7%	0.8%	1.1%	1.0%
Operating Activities Deferred Income Taxes	0.2%	0.3%	-0.1%	-0.1%	-0.2%
Operating Activities Changes In Operating Assets and Liabilities	-0.6%	-0.5%	-0.7%	0.0%	0.0%
Operating Activities Other Non Cash Items	0.2%	0.1%	0.1%	0.6%	1.0%
Operating Activities net Cash From Operating Activities	9.0%	7.6%	8.9%	10.4%	10.2%
Investing Activities Capital Expenditures	0.5%	0.6%	0.9%	1.4%	1.2%
Investing Activities Business Acquisitions	1.1%	15.1%	2.0%	1.7%	-2.5%
Investing Activities Other Investing Activities	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%
Investing Activities net Cash From Investing Activities	-1.4%	-15.6%	-3.0%	-2.5%	-3.4%
Financing Activities Repayment of Debt	0.9%	2.9%	0.6%	1.1%	3.0%
Financing Activities Repurchase of Common Stock	3.4%	1.6%	2.4%	5.8%	3.4%
Financing Activities Dividends Paid	2.9%	2.7%	2.7%	3.4%	3.0%
Financing Activities Proceeds From Stock Issuance	0.3%	0.2%	0.2%	0.1%	0.3%
Financing Activities Tax Withholding On Stock Based Compensation	0.3%	0.3%	0.3%	0.6%	0.3%
Financing Activities net Cash From Financing Activities	-7.9%	7.9%	-2.3%	-3.1%	-3.8%
Cash Reconciliation Effect of Exchange Rate On Cash	1.1%	-0.7%	0.7%	-2.5%	-1.0%
Cash Reconciliation net Change In Cash	0.8%	-0.8%	4.3%	2.2%	2.0%
Cash Reconciliation Cash At Beginning of Period	24.1%	24.2%	29.5%	36.2%	33.1%
Cash Reconciliation Cash At End of Period	24.1%	24.2%	29.5%	36.2%	33.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	—	—	—	—	—
Net margin	—	—	—	—	—
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	—	—	—	—	—
Returns
ROE	+27.2%	+30.0%	+30.4%	+28.4%	+28.0%
ROA	+7.1%	+7.2%	+7.8%	+9.1%	+9.1%
ROIC	+14.8%	+14.1%	+17.8%	+15.6%	+15.9%
Liquidity
Current ratio	1.10x	1.13x	1.10x	1.16x	1.24x
Quick ratio	0.49x	0.49x	0.49x	1.02x	1.10x
Leverage
D/E	1.38x	1.44x	1.60x	0.67x	0.59x
Interest coverage	—	—	9.14x	9.13x	9.71x
Efficiency
Asset turnover	—	—	—	—	—
Cash conversion cycle	—	—	—	—	—

Valuation

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FY2025 fundamentals · no price

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Marsh McLennan

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