Marsh & McLennan Companies, Inc. (MRSH) — Financial statements
Income statement, balance sheet, and cash flow for Marsh & McLennan Companies, Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 26,981↑10.3% | 24,458↑7.6% | 22,736↑9.7% | 20,720↑4.5% | 19,820 | |
| Cost of Revenue | 15,577↑11.3% | 13,996↑6.8% | 13,099↑8.5% | 12,071↑5.7% | 11,425 | |
| Gross Profit | 11,404↑9.0% | 10,462↑8.6% | 9,637↑11.4% | 8,649↑3.0% | 8,395 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other Expenses | 5,181↑11.5% | 4,645↑6.7% | 4,355↓0.3% | 4,369↑7.0% | 4,083 | |
| Operating Expenses | 5,181↑11.5% | 4,645↑6.7% | 4,355↓0.3% | 4,369↑7.0% | 4,083 | |
| Total Costs & Expenses | 20,758↑11.4% | 18,641↑6.8% | 17,454↑6.2% | 16,440↑6.0% | 15,508 | |
| Operating Results | ||||||
| Operating Income | 6,223↑7.0% | 5,817↑10.1% | 5,282↑23.4% | 4,280↓0.7% | 4,312 | |
| Depreciation & Amortization | 910↑22.0% | 746↑4.6% | 713↓0.8% | 719↓3.7% | 747 | |
| EBITDA | 7,395↑6.8% | 6,926↑9.6% | 6,317↑19.9% | 5,270↓2.4% | 5,399 | |
| EBIT | 6,485↑4.9% | 6,180↑10.3% | 5,604↑23.1% | 4,551↓2.2% | 4,652 | |
| Interest & Other Income | ||||||
| Net Interest Income | -912↓47.8% | -617↓23.4% | -500↓10.1% | -454↓2.7% | -442 | |
| Interest Income | 48↓42.2% | 83↑6.4% | 78↑420.0% | 15↑650.0% | 2 | |
| Interest Expense | 960↑37.1% | 700↑21.1% | 578↑23.2% | 469↑5.6% | 444 | |
| Non-Operating Income | -262↑27.8% | -363↓12.7% | -322↓18.8% | -271↑20.3% | -340 | |
| Other Income / Expenses | -684↓103.0% | -337↓31.6% | -256↓29.3% | -198↓90.4% | -104 | |
| Income Before Tax | 5,539↑1.1% | 5,480↑9.0% | 5,026↑23.1% | 4,082↓3.0% | 4,208 | |
| Income Tax Expense | 1,305↓4.3% | 1,363↑11.4% | 1,224↑23.0% | 995↓3.8% | 1,034 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 4,234↑2.8% | 4,117↑8.3% | 3,802↑23.2% | 3,087↓2.7% | 3,174 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 4,160↑2.5% | 4,060↑8.1% | 3,756↑23.1% | 3,050↓3.0% | 3,143 | |
| Bottom-Line Net Income | 4,160↑2.5% | 4,060↑8.1% | 3,756↑23.1% | 3,050↓3.0% | 3,143 | |
| EPS (Basic) | 8.48↑2.8% | 8.25↑8.6% | 7.60↑24.4% | 6.11↓1.5% | 6.20 | |
| EPS (Diluted) | 8.43↑3.1% | 8.18↑8.6% | 7.53↑24.7% | 6.04↓1.5% | 6.13 | |
| Weighted Average Shares | 487↓1.0% | 492↓0.4% | 494↓1.0% | 499↓1.6% | 507 | |
| Weighted Average Diluted Shares | 490↓1.2% | 496↓0.6% | 499↓1.2% | 505↓1.6% | 513 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.