MRSH · XBRL financial data

Marsh & McLennan Companies financial statements, every quarter

The same tables from 12 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal quarters (MRSH's year ends in late December)

In millions of dollars	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026	Q3 FY26Sep 30, 2026
Revenue from contracts with customers	5,554*	6,473	6,221	5,697	6,067*	7,061	6,974	6,351	6,595*	7,597	7,404	6,863
Total operating expenses	4,451*	4,548	4,579	4,589	4,925*	5,056	5,145	5,181	5,376*	5,843	5,505	5,648
Operating income (loss)	1,103*	1,925	1,642	1,108	1,142*	2,005	1,829	1,170	1,219*	1,754	1,899	1,215
Interest income	38*	37	12	12	22*	19	5	10	14*	11	8	10
Interest expense	151*	159	156	154	231*	245	243	237	235*	240	250	248
Income tax expense (benefit)	283*	447	425	283	208*	415	415	253	222*	395	411	221
Net income (loss)	756*	1,400	1,125	747	788*	1,381	1,211	747	821*	1,146	1,266	808
Earnings per share, basic USD per share	1.54*	2.84	2.28	1.52	1.60*	2.81	2.46	1.52	1.68*	2.37	2.64	1.70
Earnings per share, diluted USD per share	1.52*	2.82	2.27	1.51	1.59*	2.79	2.45	1.51	1.67*	2.36	2.63	1.69
Weighted average shares, basic millions of shares	492*	492	492	492	492*	492	492	491	489*	484	480	476
Weighted average shares, diluted millions of shares	498*	497	496	496	495*	495	495	494	492*	486	482	479

Fiscal quarters (MRSH's year ends in late December)

In millions of dollars	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026	Q3 FY26Sep 30, 2026
Cash and cash equivalents	3,358	1,452	1,653	1,798	2,398	1,604	1,677	2,511	2,687	1,611	1,700	1,842
Total current assets	21,748	21,299	22,022	22,286	22,117	22,461	23,334	23,699	23,200	23,236	24,333	24,107
Property and equipment, net	882	877	879	884	859	840	839	820	829	814	806	815
Right-of-use asset	1,541	1,494	1,468	1,487	1,498	1,477	1,471	1,436	1,460	1,460	1,428	1,414
Goodwill	17,231	17,314	17,516	18,235	23,306	23,538	23,919	23,949	24,337	24,273	24,352	24,613
Total assets	48,030	47,572	48,591	49,864	56,481	57,015	58,555	58,783	58,710	58,552	59,682	59,806
Commercial paper	0	50	749	0	0	1,048	—	—	0	1,000	1,000	1,600
Current portion of long-term debt	1,619	1,119	518	518	519	619	619	1,263	1,267	653	646	21
Total current liabilities	19,795	18,660	18,864	19,604	19,518	19,775	19,400	21,098	21,060	20,905	21,359	22,109
Long-term debt	11,844	12,300	12,278	12,330	19,428	18,862	18,960	18,317	18,320	18,900	18,891	18,889
Lease liability, non-current	1,661	1,600	1,586	1,618	1,590	1,563	1,546	1,514	1,529	1,523	1,494	1,475
Retained earnings	22,759	23,456	24,578	24,520	25,306	25,881	27,088	26,948	27,767	28,037	29,301	29,162
Total liabilities and equity	48,030	47,572	48,591	49,864	56,481	57,015	58,555	58,783	58,710	58,552	59,682	59,806
Common shares outstanding (cover page) millions of shares	492	493	492	491	491	493	492	490	484	482	477	476

Fiscal quarters (MRSH's year ends in late December)

In millions of dollars	Q4 FY23Dec 31, 2023	Q1 FY24Mar 31, 2024	Q2 FY24Jun 30, 2024	Q3 FY24Sep 30, 2024	Q4 FY24Dec 31, 2024	Q1 FY25Mar 31, 2025	Q2 FY25Jun 30, 2025	Q3 FY25Sep 30, 2025	Q4 FY25Dec 31, 2025	Q1 FY26Mar 31, 2026	Q2 FY26Jun 30, 2026	Q3 FY26Sep 30, 2026
Net income (loss)	756*	1,400	1,125	747	788*	1,381	1,211	747	821*	1,146	1,266	808
Stock-based compensation	90*	103	90*	90*	85*	112	98*	95*	89*	139	96*	94*
Depreciation and amortization	year only	99	87	90	93*	88	91	91	91*	89	90	89
Net cash from operating activities	1,783*	(781)	1,215*	1,912*	1,956*	(622)	1,671*	2,082*	2,161*	(688)	1,523*	1,478*
Purchases of property and equipment	120*	87	80*	73*	76*	55	59*	72*	105*	62	72*	81*
Net cash from investing activities	(474)*	(368)	(415)*	(393)*	(7,645)*	26	(121)*	(227)*	(523)*	(104)	(161)*	(228)*
Proceeds from issuing equity	34*	113	54*	54*	43*	128	47*	37*	38*	63	28*	27*
Share repurchases	250*	300	300*	300*	0*	300	300*	402*	1,010*	755	757*	504*
Dividends paid	354*	354	352*	404*	403*	405	405*	445*	444*	440	438*	476*
Repayments of long-term debt	254*	1,004	605*	4*	4*	505	5*	4*	5*	605	5*	637*
Net cash from financing activities	(2,334)*	135	(519)*	(1,436)*	6,275*	(138)	(1,695)*	(753)*	(2,048)*	114	(800)*	(1,078)*
Net change in cash	(577)*	(1,242)	240*	571*	(47)*	(491)	365*	964*	(352)*	(805)	548*	212*

SIC 6411 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 6411 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
Marsh & McLennan Companies	1,842	6,863	1,478*	475.5M	Q3 FY26 10-QSep 30, 2026
Aon	2,017	4,101	1,191*	212.2M	Q3 FY26 10-QSep 30, 2026
Arthur J. Gallagher	1,386	4,003	10*	256.3M	Q2 FY26 10-QJun 30, 2026
Brown & Brown	1,099	1,725	532*	331.7M	Q3 FY26 10-QSep 30, 2026
Willis Towers Watson	1,946	2,404	739*	92.2M	Q3 FY26 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.