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Stocks/Financials/Insurance Brokers

Marsh McLennanMRSH

Insurance Brokers · New York City, New York · In the S&P 500
Solid businessPricier than peers
$200.62+1.82%After hours: $200.00 (−0.31%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 11.5% over 1 year
Marsh McLennan over 1 yearDaily close, $, to 30 Oct 2026
$160$180Nov2026MarMayJulSep$200.62$160$180NovMarJul$200.62
Source: Nasdaq daily closes
Market value$95.40B
Price to earnings24.1x
Forward P/E18.2x
Dividend yield1.97%
Year to date+8.1%
One year+11.5%
Next earningsNot scheduled
SectorFinancials
52-week range (closes)
$157.32$200.62

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Quality and valuation

How Marsh McLennan compares with other financials stocks. A description, not a recommendation.

Marsh McLennan and 5 insurance brokers peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: pricier than most

An average business among financials companies, priced above most of them.

Marsh McLennan trades at 18.2 times the next 12 months of expected earnings, against a median of 13.0x for the 84 financials stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +7.6% vs +10.2%
  • Less profitable (operating margin): 21.4% vs 22.3%
  • Turns less of its sales into cash: 14.6% vs 20.3%
MRSH trades at 18.2x forward earnings, above the sector medianForward p/e, Insurance Brokers peers
BRO15.2xWTW15.5xAON16.7xMRSH18.2xAJG19.7xERIE41.3xSector median 13.0xBRO15.2xWTW15.5xAON16.7xMRSH18.2xAJG19.7xERIE41.3xSector median 13.0x
Source: CNBC quotes; Mostly Markets
At 24.0x earnings, MRSH is cheaper than its average since Oct 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
20x25x30xAverage 24.2x2025202624.0x20x25x30xAverage 24.2x2025202624.0x
Source: Nasdaq prices; SEC filings

Financials

From Marsh McLennan's SEC filings, through the quarter ending 30 Sep 2026. Hover or tap a bar for its value.

Revenue grew 8.1% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0bn$2bn$4bn$6bnQ4 ’24Q2 ’25Q4 ’25$6.9bnQ3 ’26$0bn$5bnQ4 ’24Q2 ’25Q4 ’25$6.9bnQ3 ’26
Source: SEC filings
Growth sped up to +8.1% last quarterRevenue growth, year on year, %
0%5%10%Q4 ’24Q2 ’25Q4 ’258.1%Q3 ’260%5%10%Q4 ’24Q2 ’25Q4 ’258.1%Q3 ’26
Source: SEC filings
Operating margin was 17.7% last quarterOperating income as a share of revenue, %
0%10%20%Q4 ’24Q2 ’25Q4 ’2517.7%Q3 ’260%10%20%Q4 ’24Q2 ’25Q4 ’2517.7%Q3 ’26
Source: SEC filings
Free cash flow was $4.2 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0bn$1bn$2bnQ4 ’24Q2 ’25Q4 ’25$1.4bnQ3 ’26$0bn$1bn$2bnQ4 ’24Q2 ’25Q4 ’25$1.4bnQ3 ’26
Source: SEC filings
Last 12 monthsMRSHSector median
Revenue growth+7.6%+10.2%
Operating margin21.4%22.3%
Free cash flow margin14.6%20.3%
Price to earnings24.1x14.6x

Similar companies

Insurance Brokers, by market value.

CompanyPriceTodayYTDValue
AJGArthur J. Gallagher$276.07+2.93%+6.7%$70.76B
AONAon$321.67+0.01%−8.8%$68.25B
WTWWillis Towers Watson$324.42+1.15%−1.3%$30.13B
BROBrown & Brown$69.76+2.83%−12.5%$23.14B
ERIEErie Indemnity$261.39+4.23%−8.8%$13.67B