Marsh (MRSH) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Marsh

NYSE•Financial Services•Insurance Brokers

$174.58-2.18(-0.01%)After hours

Market Cap

$84.50B

P/E

21.2x

P/S

3.0x

P/B

5.6x

Marsh & McLennan Companies, Inc., a professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide. The company operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk management, insurance broking, insurance program management, risk consulting, analytical modeling, and alternative risk financing services. This segment also offers insurance and reinsurance broking, strategic advisory and actuarial services, and analytics solutions. It serves businesses, public entities, insurance companies, associations, professional services organizations, and private clients. The Consulting segment provides health, wealth and career advice, solutions and products; and specialized management, strategic, economic, and brand consulting services. Marsh & McLennan Companies, Inc. was founded in 1871 and is headquartered in New York, New York.

How this company scores

GoodMetricSide Score: 65/100

Strongest: Profitability (19/25); weakest: Balance Sheet & Red Flags (12/25).

Profitability19/25

Growth15/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality19/25

Strengths

Strong marginsHigh ROECash-backed earningsConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 20.3x5y range 20.3x – 29.9x

Currently near its 20-quarter median.

P/S · 2.9x5y range 2.9x – 4.8x

Currently below its 20-quarter median.

P/B · 5.3x5y range 5.3x – 8.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 7.8% — watch for continued compression, which may signal competitive or cost pressure.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $84.50B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $27.95B
Q. Revenue: $7.40B
TTM EBITDA: $5.76B
TTM Op. Income: $6.04B
Q. Op. Income: $1.90B
TTM Net Income: $3.98B
Q. Net Income: $1.27B
EPS: N/A
Shares Out.: $484.00M

$27.95B in TTM revenue grew 8.3% YoY, reaching $7.40B last quarter. TTM EBITDA of $5.76B and TTM operating income of $6.04B show growth is flowing through to the bottom line. TTM net income of $3.98B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 16.2%
Op. Margin: 25.6%
Net Margin: 17.1%

Op. margin of 25.6% is down 0.6% YoY — costs are rising relative to revenue. Net margin at 17.1% Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 20.3x
P/S Ratio: 2.9x
P/B Ratio: 5.3x

At 20.3x P/E, the stock trades within typical market levels. P/S of 2.9x and P/B of 5.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 5 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $59.68B
Cash: $1.70B
Long-Term Debt: $18.89B
Book Value: $15.18B
D/E Ratio: 1.2
Debt/EBITDA: 15.7

With $59.68B in assets and $18.89B in long-term debt, D/E is 1.2and book value is $15.18B — moderate leverage. Over the past year, debt/equity is up 3% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

TTM Free Cash Flow: $4.77B
FCF Margin: 17.1%
FCF / Net Income: 1.2

TTM FCF of $4.77B. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.