MARSH & MCLENNAN COMPANIES, INC. · Insurance Agents, Brokers & Service

MRSH

Low riskNext report: Around Jan 28, 2027 (est.)

View price ↗

The short version

A high-quality, profitable business with steady sales.

Going well

Profitable every year for 10 years
Sales up 10% last year
Brings in more cash than it spends

Money moves

Insiders sold $1.1M in the last 30 days, all through pre-planned sales
Institutions added 0.1% to their holdings in the quarter ending June 2026 (601 bought, 809 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$194.78-1.4% that day

Company value: $92.6B; Share price times all shares
Price vs profit (P/E): 23.3x; You pay about $23 for each $1 of yearly profit
Price vs sales: 3.3x; Company value is 3.3 times a year of sales
Dividend yield: 1.8%; Yearly dividend as a share of today's price
Cash vs value: 2%; Cash as a share of company value
Debt vs value: 21%; Debt as a share of company value

From MRSH's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Sep '26

$6.9B+8.1% vs a year earlier

Dec '23Tap a barSep '26

Last 12 months: $28.5B, up 7.6% from the 12 months before. Over 5 years, sales grew about 9.4% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of MRSH. Starting points are the company's recent numbers.

Sales growth+8% a yearRecently: +7.6% a yearProfit margin14%Last 12 months: 14.2%P/E at the end23xToday: 23.3x. Many steady companies trade at 12x to 25xShare count change-1% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$41.8B

Profit in 5 years$5.9B

Price these guesses point to$297.75+53% vs $194.78 todayAbout +8.9% a year, before dividends

What today's price needs: with a 14% margin and a 23x P/E, sales could shrink about 0.8% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

4/4Strong

PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.15.4%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$5.0B
PassShare count not growingNot diluting owners. Falling means buybacks.-2.2% in 3 years

Revenue: $27.0B; +10.3% vs prior year
5-year growth: +9.4%/yr; revenue, per year
Total debt: $19.6B
Free cash flow: $5.0B; 18.5% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Sep 30, 2026

Reported Oct 15Before open8:05 am ET

Revenue: $6.9B; +8.1% YoY
EPS: $1.69; vs $1.51
Op. margin: 17.7%; -0.7 pts
Free cash flow: $1.4B
Share count: -3.0%; vs a year ago

Insider rating

Last 90 days

45Mixed

Pre-planned sales of $1.1M (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

71/ 100

This week: 5
Normal week: 2.0
vs normal: 2.5x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+0.1%

Institutions added 0.1% to their holdings. 601 bought, 809 sold. 2 quarters of net buying in a row.

Shares held by institutions439.0M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-1.2%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

1.3x · $18.9B debt

Shares outstandingLatest reported

476M

Earnings reports

Last 12

Next reportAround Jan 28, 2027 (est.)Estimated from the same quarter last year

Results filedOct 15
Results filedJul 21
Results filedApr 16
Results filedJan 29
Results filedOct 16, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$1.1M2 insiders, 2 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Stacy MillsVice President and Controller	Sell	1K	$200.00	$243K	3K	Oct 23Filing ↗
-31% of their holdings Pre-planned sale (10b5-1) Filed 3 days after
Dean Michael KlisuraPresident & CEO, Marsh RE	Sell	4K	$200.00	$839K	21K	Oct 23Filing ↗
-16.7% of their holdings Pre-planned sale (10b5-1) Filed 3 days after