MARSH & MCLENNAN COMPANIES, INC.

MRSH · Large cap · 0 articles

Financial highlights

Metric	FY 12/31/25	FY 12/31/24	FY 12/31/23	FY 12/31/22	FY 12/31/21
Income Statement
Revenue	$27.0B	$24.5B	$22.7B	$20.7B	$19.8B
Operating expenses	$20.8B	$18.6B	$17.5B	$16.4B	$15.5B
Operating income	$6.2B	$5.8B	$5.3B	$4.3B	$4.3B
Interest expense	$960.0M	$700.0M	$578.0M	$469.0M	$444.0M
Pretax income	$5.5B	$5.5B	$5.0B	$4.1B	$4.2B
Income tax expense	$1.3B	$1.4B	$1.2B	$995.0M	$1.0B
Net income	$4.2B	$4.1B	$3.8B	$3.0B	$3.1B
Balance Sheet
Cash and equivalents	$2.7B	$2.4B	$3.4B	$1.4B	$1.8B
Current assets	$23.2B	$22.1B	$21.7B	$19.0B	$8.3B
Total assets	$58.7B	$56.5B	$48.0B	$44.1B	$44.0B
Current liabilities	$21.1B	$19.5B	$19.8B	$17.8B	$6.7B
Stockholders' equity	$15.3B	$13.5B	$12.4B	$10.7B	$11.2B
Cash Flow Statement
Cash from operations	$5.3B	$4.3B	$4.3B	$3.5B	$3.5B
Depreciation and amortization	$361.0M	$369.0M	$370.0M	$381.0M	$747.0M
Stock-based compensation	$394.0M	$368.0M	$363.0M	$367.0M	$348.0M
Capital expenditure	$291.0M	$316.0M	$416.0M	$470.0M	$406.0M
Free cash flow	$5.0B	$4.0B	$3.8B	$3.0B	$3.1B
Dividends paid	$1.7B	$1.5B	$1.3B	$1.1B	$1.0B
Share repurchases	$2.0B	$900.0M	$1.1B	$1.9B	$1.2B

Shares outstanding 481.8M · Free float 0.6%

Annual filing data through FY ended December 31, 2025; float as of July 8, 2026.