Marsh & McLennan Companies, Inc. (MRSH) income statement
NYSE · Financial Services · Insurance - Brokers · 95,000 employees · CEO John Q. Doyle
- Price
- $200.62 +1.82%
- Market cap
- $95.7B
- Enterprise value
- $116B
- Last report
- Q3 '26 filed 2026-10-15
- Next report
- 2027-01-28 EPS est. $2.20
Marsh & McLennan Companies, Inc. (MRSH) reported revenue of $6.86B for Q3 '26 (+8.1% year on year), operating income of $1.22B (17.7% of revenue) and net income of $808M. Over the last four quarters revenue was $28.5B.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.55B | $6.47B | $6.22B | $5.7B | $6.07B | $7.06B | $6.97B | $6.35B | $6.6B | $7.6B | $7.4B | $6.86B | |
| Cost of revenue | $3.27B | $3.47B | $3.45B | $3.44B | $3.63B | $3.85B | $3.9B | $3.89B | $3.94B | $4.13B | $4.14B | $4.08B | |
| Gross profit | $2.29B | $3B | $2.77B | $2.26B | $2.44B | $3.21B | $3.08B | $2.46B | $2.66B | $3.47B | $3.26B | $2.79B | |
| Other operating expenses | $1.18B | $1.08B | $1.13B | $1.15B | $1.3B | $1.21B | $1.25B | $1.29B | $1.44B | $1.71B | $1.36B | $1.57B | |
| Operating expenses | $1.18B | $1.08B | $1.13B | $1.15B | $1.3B | $1.21B | $1.25B | $1.29B | $1.44B | $1.71B | $1.36B | $1.57B | |
| Operating income | $1.1B | $1.93B | $1.64B | $1.11B | $1.14B | $2.01B | $1.83B | $1.17B | $1.22B | $1.75B | $1.9B | $1.22B | |
| Interest income | $38M | $37M | $12M | $12M | $22M | $19M | $5M | $10M | $14M | $11M | $8M | $10M | |
| Interest expense | $151M | $159M | $156M | $154M | $231M | $245M | $243M | $237M | $235M | $240M | $250M | $248M | |
| Other non-operating income (gains on investments, FX ...) | -$96M | -$105M | -$79M | -$81M | -$98M | -$67M | -$60M | -$77M | -$58M | $413M | $699M | -$66M | |
| Total non-operating income | -$55M | -$54M | -$77M | -$73M | -$133M | -$178M | -$183M | -$160M | -$163M | -$173M | -$197M | -$182M | |
| Income before tax | $1.05B | $1.87B | $1.57B | $1.04B | $1.01B | $1.83B | $1.65B | $1.01B | $1.06B | $1.58B | $1.7B | $1.03B | |
| Income tax | $283M | $447M | $425M | $283M | $208M | $415M | $415M | $253M | $222M | $395M | $411M | $221M | |
| Net income | $756M | $1.4B | $1.13B | $747M | $788M | $1.38B | $1.21B | $747M | $821M | $1.15B | $1.27B | $808M | |
| EPS (basic) | $1.53 | $2.85 | $2.29 | $1.52 | $1.60 | $2.81 | $2.46 | $1.52 | $1.69 | $2.37 | $2.63 | $1.70 | |
| EPS (diluted) | $1.52 | $2.82 | $2.27 | $1.51 | $1.59 | $2.79 | $2.45 | $1.51 | $1.68 | $2.36 | $2.63 | $1.69 | |
| Shares (basic, weighted) | 493M | 492M | 492M | 492M | 492M | 492M | 492M | 491M | 487M | 484M | 482M | 476M | |
| Shares (diluted, weighted) | 498M | 497M | 496M | 496M | 496M | 495M | 495M | 494M | 490M | 486M | 484M | 479M | |
| Depreciation & amortization | $186M | $189M | $176M | $180M | $201M | $227M | $231M | $224M | $228M | $227M | $227M | $231M | |
| EBITDA | $1.39B | $2.22B | $1.9B | $1.37B | $1.44B | $2.3B | $2.12B | $1.47B | $1.51B | $1.57B | $1.43B | $1.51B |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.2B | $14B | $15B | $16.7B | $17.2B | $19.8B | $20.7B | $22.7B | $24.5B | $27B | |
| Cost of revenue | $7.69B | $8.09B | $8.61B | $9.73B | $10.1B | $11.4B | $12.1B | $13.1B | $14B | $15.6B | |
| Gross profit | $5.52B | $5.94B | $6.35B | $6.92B | $7.1B | $8.4B | $8.65B | $9.64B | $10.5B | $11.4B | |
| General & administrative | $7.69B | $8.09B | $8.61B | $9.73B | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other operating expenses | -$4.61B | -$4.8B | -$5.02B | -$5.49B | $4.03B | $4.08B | $4.37B | $4.36B | $4.65B | $5.18B | |
| Operating expenses | $3.09B | $3.28B | $3.58B | $4.24B | $4.03B | $4.08B | $4.37B | $4.36B | $4.65B | $5.18B | |
| Operating income | $2.43B | $2.66B | $2.76B | $2.68B | $3.07B | $4.31B | $4.28B | $5.28B | $5.82B | $6.22B | |
| Interest income | $5M | $9M | $11M | $39M | $7M | $2M | $15M | $78M | $83M | $48M | |
| Interest expense | $189M | $237M | $290M | $524M | $515M | $444M | $469M | $578M | $700M | $960M | |
| Other non-operating income (gains on investments, FX ...) | -$238M | -$225M | $227M | -$286M | -$242M | -$340M | -$271M | -$322M | -$363M | -$262M | |
| Total non-operating income | $49M | -$12M | -$517M | -$238M | -$273M | -$104M | -$198M | -$256M | -$337M | -$684M | |
| Income before tax | $2.48B | $2.64B | $2.24B | $2.44B | $2.79B | $4.21B | $4.08B | $5.03B | $5.48B | $5.54B | |
| Income tax | $685M | $1.13B | $574M | $666M | $747M | $1.03B | $995M | $1.22B | $1.36B | $1.31B | |
| Net income | $1.77B | $1.49B | $1.65B | $1.74B | $2.02B | $3.14B | $3.05B | $3.76B | $4.06B | $4.16B | |
| EPS (basic) | $3.41 | $2.91 | $3.26 | $3.44 | $3.98 | $6.20 | $6.11 | $7.60 | $8.25 | $8.48 | |
| EPS (diluted) | $3.37 | $2.87 | $3.23 | $3.41 | $3.94 | $6.13 | $6.04 | $7.53 | $8.18 | $8.43 | |
| Shares (basic, weighted) | 519M | 513M | 506M | 506M | 506M | 507M | 499M | 494M | 492M | 487M | |
| Shares (diluted, weighted) | 524M | 519M | 511M | 511M | 512M | 513M | 505M | 499M | 496M | 490M | |
| Depreciation & amortization | $438M | $481M | $494M | $647M | $741M | $747M | $719M | $713M | $746M | $910M | |
| EBITDA | $3.11B | $3.36B | $3.03B | $3.61B | $4.05B | $5.4B | $5.27B | $6.32B | $6.93B | $7.4B |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01