OakChart

Marsh

MRSHFinancial·Insurance Brokers·USA·Large·NYSE·Nov 11 • 3:59 PM ET

207.52+0.58 (0.28%)
2026-11-12 04:14 CET
Market cap
98,678.67 USD m
Revenue, TTM
28,475.00 USD m
Net income, TTM
4,041.00 USD m
Free cash flow, TTM
4,154.00 USD m
EPS diluted, TTM
8.35
P/E
24.86
Compare

Price

MRSH against its 20, 50 and 200-day averages
2050200beatmiss
160.00180.00200.003.6M7.2MVolumeMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26MRSHclose 207.5220-day 198.4950-day 184.73200-day 178.18207.5252w high52w low

3.0% under the 52-week high of 214.00 on 5 Nov 2026. 52-week low 156.60 on 3 Jun 2026. Last 15 sessions, 13.0% high to low

Volume 0.71× normal · the line is the 50-bar volume average

Profile

MRSH
52-week range, 89% of the way up
156.6214

Marsh & McLennan Cos., Inc. is a professional services firm, which engages in offering clients advice and solutions to risk, strategy, and people. It operates through the Risk and Insurance Services and Consulting segments. The Risk and Insurance Services segment is involved in risk management activities, as well as insurance and reinsurance broking and services. The Consulting segment offers health, wealth, and career solutions and products, and specialized management, strategic, economic, and brand consulting services. The company was founded by Henry W. Marsh and Donald R. McLennan in 1871 and is headquartered in New York, NY.

IndexS&P 500, RUI
Employees95000
IPOFeb 19, 1968
Beta0.52
ATR, 14d4.71
Rel volume0.71
Short float1.28%
Insider own0.10%
Inst own94.44%

Snapshot

6 groups

Valuation

IndexS&P 500, RUI
Market Cap98.68B
Enterprise Value119.40B
Income4.04B
Sales28.48B
Book/sh30.87
Cash/sh3.87
Dividend Est.3.79 (1.83%)
Dividend TTM3.78 (1.82%)
Dividend Ex-DateOct 01, 2026
Dividend Gr. 3/5Y15.07% 13.73%
Payout41.74%
Employees95000
IPOFeb 19, 1968

Ratios

P/E24.86
Forward P/E18.10
PEG2.04
P/S3.47
P/B6.72
P/C53.57
P/FCF23.76
EV/EBITDA15.46
EV/Sales4.19
Quick Ratio1.09
Current Ratio1.09
Debt/Eq1.52
LT Debt/Eq1.39
Option/ShortYes / Yes

Earnings

EPS (ttm)8.35
EPS next Y11.46
EPS next Q2.22
EPS this Y7.58%
EPS next Y9.30%
EPS next 5Y8.88%
EPS past 3/5Y11.72% 16.42%
Sales past 3/5Y9.12% 9.45%
EPS Y/Y TTM-0.07%
Sales Y/Y TTM7.64%
EPS Q/Q11.55%
Sales Q/Q7.93%
EarningsOct 15 BMO
EPS/Sales Surpr.3.13% 3.29%

Ownership

Insider Own0.10%
Insider Trans-12.34%
Inst Own94.44%
Inst Trans-2.38%
ROA6.82%
ROE27.10%
ROIC11.53%
Gross Margin-
Oper. Margin23.92%
Profit Margin14.19%
SMA204.55%
SMA5012.34%
SMA20016.47%
Trades-

Technical

Shs Outstand475.41M
Shs Float475.06M
Short Float1.28%
Short Ratio2.48
Short Interest6.10M
52W High214.00 -3.03%
52W Low156.60 32.52%
Volatility2.23% 2.30%
ATR (14)4.71
RSI (14)67.69
Beta0.52
Rel Volume0.71
Avg Volume2.46M
Volume1,750,837

Performance

Perf Week-1.36%
Perf Month17.24%
Perf Quarter9.98%
Perf Half Y30.40%
Perf YTD11.86%
Perf Year14.07%
Perf 3Y3.53%
Perf 5Y25.83%
Perf 10Y206.17%
Recom2.54
Target Price206.19
Prev Close206.94
Price207.52
Change %0.28%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Nov 03, 2026UpgradeBBMO Capital MarketsMarket Perform → Outperform$230+10.8%
Jul 22, 2026DowngradeCCitigroupBuy → Neutral$200-3.6%
May 06, 2026UpgradeCCitigroupNeutral → Buy$200-3.6%
Feb 27, 2026DowngradeMMizuhoOutperform → Neutral$199-4.1%
Feb 17, 2026UpgradeRRaymond JamesOutperform → Strong Buy$225+8.4%
Dec 16, 2025InitiatedMMizuhoOutperform
Nov 25, 2025ResumedRRBC Capital MktsSector Perform$200-3.6%
Nov 20, 2025UpgradeBBarclaysEqual Weight → Overweight$206-0.7%
Nov 03, 2025DowngradeBBofA SecuritiesNeutral → Underperform$181-12.8%
Oct 20, 2025UpgradeGGoldmanSell → Neutral$195-6.0%

Peers

Mkt cap
TickerCompanyMkt cap
AONAon Plc71.40B
AJGArthur J. Gallagher & Co72.31B
WTWWillis Towers Watson Public Limited Co30.82B
BROBrown & Brown Inc23.68B
RYANRyan Specialty Holdings Inc11.79B
BWINBaldwin Insurance Group Inc4.48B
GSHDGoosehead Insurance Inc1.64B
CBChubb Limited141.50B
ERIEErie Indemnity Co12.68B
CRD-ACrawford & Co557.48M

Insider trading

latest 14 of 46
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Beswick PaulSVP, Chief Information OfficerNov 05 '26Sale212.77713151,70515,663Nov 09 04:01 PM
Beswick PaulOfficerNov 05 '26Proposed Sale212.77713151,705Nov 05 11:14 AM
Tomlinson PatrickPres/CEO, Marsh People & InvNov 02 '26Option Exercise83.052,500207,6256,756Nov 04 04:06 PM
Klisura Dean MichaelPresident & CEO, Marsh REOct 23 '26Sale200.004,194838,80020,935Oct 26 04:14 PM
Mills StacyVice President and ControllerOct 23 '26Sale200.001,215243,0002,705Oct 26 04:11 PM
Mills StacyOfficerOct 23 '26Proposed Sale200.001,215243,000Oct 23 12:20 PM
Klisura Dean MichaelOfficerOct 23 '26Proposed Sale200.004,194838,800Oct 23 10:48 AM
Brennan KatherineSVP and General CounselSep 02 '26Option Exercise83.051,19799,4068,527Sep 03 04:02 PM
Brennan KatherineSVP and General CounselSep 02 '26Sale187.901,197224,9157,330Sep 03 04:02 PM
Doyle John QPresident and CEOSep 02 '26Option Exercise73.1916,6561,219,136133,467Sep 03 04:01 PM
Doyle John QPresident and CEOSep 02 '26Sale188.5116,6563,139,823116,811Sep 03 04:01 PM
Brennan KatherineOfficerSep 02 '26Proposed Sale187.901,197224,915Sep 02 03:22 PM
Doyle John QOfficerSep 02 '26Proposed Sale188.5116,6563,139,823Sep 02 11:00 AM
Jones John JudeChief Marketing OfficerAug 06 '26Sale191.966,5001,247,7231,478Aug 07 04:03 PM

Held by

AUM
TickerCompanyAUM
VTIVanguard Morningstar Total Stock Market ETFAUM: 687.42B
VOOVanguard S&P 500 ETFAUM: 1054.75B
IVViShares Core S&P 500 ETFAUM: 871.38B
SPYSPDR S&P 500 ETF TrustAUM: 793.23B
VTVVanguard Morningstar Value ETFAUM: 196.23B
XLFState Street Financial Select Sector SPDR ETFAUM: 54.05B
VIGVanguard Dividend Appreciation FTFAUM: 117.07B
VYMVanguard High Dividend Yield Indx ETFAUM: 83.15B
SPYMState Street SPDR Portfolio S&P 500 ETFAUM: 183.48B
RSPInvesco S&P 500 Equal Weight ETFAUM: 104.94B

News

latest 14 of 100

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-10-152.0301.9681.6906,8636,64424
2026Q22026-07-212.9602.8972.6277,4047,28024
2026Q12026-04-163.2903.2232.3587,5977,40624
2025Q42026-01-292.1201.9731.6766,5956,55523
2025Q32025-10-161.8501.7841.5126,3516,32422
2025Q22025-07-172.7202.6662.4476,9746,93919
2025Q12025-04-173.0603.0242.7907,0617,07719
2024Q42025-01-301.8701.7581.5896,0675,96120
2024Q32024-10-171.6301.6171.5065,6975,71020
2024Q22024-07-182.4102.3972.2686,2216,30720
2024Q12024-04-182.8902.8012.8176,4736,38420
2023Q42024-01-251.6801.6261.5185,4025,54219
2023Q32023-10-191.5701.3911.4635,3825,21619
2023Q22023-07-202.2002.1162.0745,8765,77119
2023Q12023-04-202.5302.4762.4705,9245,86019
2022Q42023-01-261.4701.4190.9305,0225,22719

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2017FY3.9203.8062.87014,02413,904
2018FY4.3504.3003.22914,95014,992
2019FY4.6604.6483.40916,65216,738
2020FY4.9704.9003.93817,22417,094
2021FY6.1706.1596.12719,82019,617
2022FY6.8506.7966.04020,72020,957
2023FY7.9907.9397.52722,57422,678
2024FY8.8008.6928.18624,45824,358
2025FY9.7509.6018.43026,98126,942
2026FY-10.489--28,763
2027FY-11.464--30,185
2028FY-12.585--31,785

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-0215046,9056,8017,018
2026Q4S2026-10-2314046,9056,8017,018
2026Q4S2026-10-2214046,9036,8017,018
2026Q4S2026-10-1914046,9016,8017,018
2026Q4S2026-10-1614046,8986,8017,018
2026Q4S2026-10-1514026,9116,8017,018
2026Q4S2026-10-1214016,9206,8406,990
2026Q4S2026-10-0914016,9206,8406,990
2026Q4S2026-10-0614016,9206,8406,990
2026Q4S2026-10-0514016,9196,8406,990
2026Q4S2026-09-3014016,9226,8407,033
2026Q4S2026-09-2914016,9216,8407,033
2026Q4S2026-09-2114016,9196,8407,033
2026Q4S2026-08-2514116,9196,8407,033

Estimate history

EPS, annual2.873.2293.4093.9386.1276.047.5278.1868.4218.3469
Period201720182019202020212022202320242025TTM
EPS, quarterly1.5061.5892.792.4471.5121.6762.3582.6271.687
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual14039149381667417202198812079322758244152701528475
Period201720182019202020212022202320242025TTM
Sales, quarterly569860427066698163666602760373996871
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual508.712503.837503.629507.727503.536494.786492.006491.402484.859475.411
Period201720182019202020212022202320242025MRQ
Shares, quarterly491.033491.402492.683491.677490.002484.859482.174477.922475.411
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue28,475.0027,015.0024,415.0022,758.0020,793.0019,881.0017,202.0016,674.0014,938.00
Total Expenses21,663.0020,192.0018,287.0017,054.0016,006.0015,506.0013,896.0013,774.0012,369.00
Operating Income6,812.006,823.006,128.005,704.004,787.004,375.003,306.002,900.002,569.00
Unusual Expense561.00566.00354.00400.00556.00318.00262.00241.0046.00
Net Income Before Taxes5,372.005,539.005,480.005,026.004,082.004,208.002,793.002,439.002,244.00
Income Taxes1,249.001,305.001,363.001,224.00995.001,034.00747.00666.00574.00
Consolidated Net Income4,123.004,234.004,117.003,802.003,087.003,174.002,046.001,773.001,670.00
Net Income From Continuing Operations4,041.004,160.004,060.003,756.003,050.003,143.002,016.001,742.001,650.00
Net Income4,041.004,160.004,060.003,756.003,050.003,143.002,016.001,742.001,650.00
EPS (Recurring)9.269.228.698.096.816.564.303.743.29
EPS (Basic, Before Extraordinaries)8.398.478.257.606.116.203.983.443.26
EPS (Diluted)8.358.428.197.536.046.133.943.413.23
Non-Operating Income (Expense)94.00242.00406.00300.00320.00595.00264.00304.0011.00
Other After Tax Adjustments0.000.000.000.000.000.000.000.000.00
Stock Option Compensation Expense330.22311.26290.72286.77289.93254.04211.70183.96140.89
Price To Earnings Ratio24.8624.8626.1927.3124.8028.3629.6732.6824.76
Price To Sales Ratio2.873.394.324.154.024.493.483.412.73
Operating Margin23.9225.2625.1025.0623.0222.0119.2217.3917.20
Net Margin14.1915.4016.6316.5014.6715.8111.7210.4511.05
Shares Outstanding475.41484.86491.40492.01494.79503.54507.73503.63503.84
Market Capitalization98,678.6798,678.67104,319.2293,422.3582,079.5787,760.8559,341.3556,225.0640,170.71

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue6,871.007,399.007,603.006,602.006,366.006,981.007,066.006,042.00
Total Expenses5,473.005,332.005,689.005,169.004,987.005,000.004,894.004,781.00
Operating Income1,398.002,067.001,914.001,433.001,379.001,981.002,172.001,261.00
Unusual Expense127.00123.00104.00207.00142.0097.00119.00144.00
Net Income Before Taxes1,033.001,702.001,581.001,056.001,010.001,646.001,827.001,009.00
Income Taxes221.00411.00395.00222.00253.00415.00415.00208.00
Consolidated Net Income812.001,291.001,186.00834.00757.001,231.001,412.00801.00
Net Income From Continuing Operations808.001,266.001,146.00821.00747.001,211.001,381.00788.00
Net Income808.001,266.001,146.00821.00747.001,211.001,381.00788.00
EPS (Recurring)1.872.812.511.971.712.582.961.79
EPS (Basic, Before Extraordinaries)1.702.642.371.691.522.462.811.60
EPS (Diluted)1.692.632.361.681.512.452.791.59
Non-Operating Income (Expense)10.008.0011.0065.0010.005.0019.00123.00
Other After Tax Adjustments0.000.000.000.000.000.000.000.00
Stock Option Compensation Expense74.2675.84109.8170.3175.0577.4288.4867.15
Price To Earnings Ratio24.8620.8520.5922.2524.1926.8229.8326.19
Price To Sales Ratio2.872.873.063.363.764.204.834.32
Operating Margin20.3527.9425.1721.7121.6628.3830.7420.87
Net Margin11.7617.1115.0712.4411.7317.3519.5413.04
Shares Outstanding475.41477.92482.17484.86490.00491.68492.68491.40
Market Capitalization98,678.6780,300.7783,971.3190,888.1099,076.98107,730.05119,850.70104,319.22

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY
Cash & Short Term Investments2,687.002,398.003,358.001,442.001,752.002,089.001,155.001,066.001,205.00
Short Term Receivables8,210.007,629.006,775.006,187.005,876.005,562.005,236.004,317.004,133.00
Investment Securities0.000.000.000.000.000.000.000.000.00
Securities In Custody0.000.000.000.000.000.000.000.000.00
Investments214.00201.00178.00162.00192.00186.00166.00151.00234.00
Investment in Unconsolidated Affiliates301.00257.00266.00215.00207.00280.00434.00287.00405.00
Net Property, Plant & Equipment2,289.002,357.002,423.002,433.002,715.002,750.002,779.00701.00712.00
Deferred Tax Assets212.00237.00357.00358.00551.00702.00676.00680.00669.00
Other Intangible Assets44,797.0043,402.0034,673.0022,657.0023,095.0021,480.0020,911.0014,376.0013,071.00
Total Assets58,710.0056,481.0048,030.0033,454.0034,388.0033,049.0031,357.0021,578.0020,429.00
Total Debt21,449.0021,862.0015,436.0013,472.0013,162.0013,579.0014,224.005,824.005,487.00
Long Term Debt19,849.0021,018.0013,505.0012,894.0012,813.0012,720.0012,667.005,510.005,225.00
Provision for Risks Charges1,165.00840.00779.00921.001,632.002,662.002,336.001,911.001,888.00
Deferred Tax Liabilities---522.00737.00561.00565.00421.00381.00
Other Liabilities20,781.0020,244.0019,445.007,790.007,635.006,987.006,289.005,838.005,231.00
Total Liabilities43,395.0042,946.0035,660.0022,705.0023,166.0023,789.0023,414.0013,994.0012,987.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.000.00
Common Equity15,100.0013,342.0012,191.0010,520.0011,009.009,104.007,793.007,511.007,359.00
Total Shareholders Equity15,100.0013,342.0012,191.0010,520.0011,009.009,104.007,793.007,511.007,359.00
Accumulated Minority Interest215.00193.00179.00229.00213.00156.00150.0073.0083.00
Total Equity15,315.0013,535.0012,370.0010,749.0011,222.009,260.007,943.007,584.007,442.00
Total Liabilities & Stockholders Equity58,710.0056,481.0048,030.0033,454.0034,388.0033,049.0031,357.0021,578.0020,429.00
Book Value Per Share31.1427.1524.7821.2621.8617.9315.4714.9114.47
Tangible Book Value Per Share-29.80-31.05-16.64-17.70-17.07-18.89-20.15-7.86-6.86
Full-Time Employees95,00090,00085,00085,00083,00076,00076,00065,00065,000
Price to Book Ratio6.727.628.198.597.956.537.205.355.90
Return on Assets7.227.779.228.999.326.266.587.867.29
Return on Equity29.2531.8033.0828.3331.2523.8622.7722.1920.25
Return on Invested Capital11.9011.8214.6213.0313.199.248.5112.6711.86
Quick Ratio1.101.131.101.161.241.241.061.211.31
Current Ratio1.101.131.101.161.241.241.061.211.31

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Funds from Operations5,591.005,810.005,377.005,166.004,477.004,199.003,496.003,172.002,730.00
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital-1,117.00-518.00-1,075.00-908.00-1,012.00-683.00-114.00-811.00-302.00
Income Taxes Payable-116.0012.00123.00105.00-54.00-45.0060.0042.00-40.00
Cash from Operating Activities4,474.005,292.004,302.004,258.003,465.003,516.003,382.002,361.002,428.00
Capital Expenditures-320.00-291.00-316.00-416.00-470.00-406.00-348.00-421.00-314.00
Net Assets From Acquisitions-691.00-652.00-8,542.00-993.00-572.00-859.00-668.00-5,505.00-884.00
Sale of Fixed Assets and Businesses23.0022.0089.000.00119.0084.00104.00239.00113.00
Purchase or Sale of Investments-76.0074.00-60.00-158.0057.0013.00104.0012.004.00
Purchase of Investments-83.00-26.00-115.00-196.00-29.00-5.00-3.00-171.000.00
Sale Or Maturity of Investments7.00100.0055.0038.0086.0018.00107.00183.004.00
Other Uses-8.000.000.000.000.000.00-9.00-76.00-8.00
Other Sources2.002.001.0011.009.004.000.000.000.00
Cash from Investing Activities-1,070.00-845.00-8,828.00-1,556.00-857.00-1,164.00-817.00-5,751.00-1,089.00
Cash Dividends Paid-1,798.00-1,699.00-1,513.00-1,298.00-1,138.00-1,026.00-943.00-890.00-807.00
Change in Capital Stock-2,870.00-1,762.00-636.00-951.00-1,824.00-998.00132.00-327.00-582.00
Repurchase of Common Pref Stock-3,026.00-2,012.00-900.00-1,150.00-1,950.00-1,159.000.00-485.00-675.00
Sale of Common Pref Stock156.00250.00264.00199.00126.00161.00132.00158.0093.00
Proceedsfrom Stock Options156.00250.00264.00199.00126.00161.00132.00158.0093.00
Issuance or Reduction of Debt, Net966.00-519.006,530.001,903.00619.00-273.00-778.005,695.00293.00
Change in Long Term Debt-1,252.00-519.006,553.001,903.00619.00-273.00-1,778.005,395.00293.00
Issuance of Long Term Debt--8,170.002,169.00984.00743.00737.006,459.00591.00
Reduction of Long Term Debt-1,252.00-519.00-1,617.00-266.00-365.00-1,016.00-2,515.00-1,064.00-298.00
Net Financing Active Other Cash Flow-56.00-654.0081.00-634.001,304.001,000.00-288.00-1,092.00-214.00
Other Financing Activities Uses-706.00-654.00-333.00-636.00-383.00-254.00-288.00-1,092.00-214.00
Cash from Financing Activities-3,758.00-4,634.004,462.00-980.00-1,039.00-1,297.00-1,877.003,386.00-1,310.00
Exchange Rate Effect-43.00673.00-414.00328.00-841.00-355.00246.0093.00-168.00
Net Change in Cash-397.00486.00-478.002,050.00728.00700.00934.0089.00-139.00
Free Cash Flow4,154.005,001.003,986.003,842.002,995.003,110.003,034.001,940.002,114.00
Preferred Dividends (Cash Flow)-0.000.000.000.000.000.000.000.00
Price to Free Cash Flow34.7127.7542.6037.1645.0042.7928.6554.2231.18

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments1,842.001,700.001,611.002,687.002,511.001,677.00
Short Term Receivables9,223.009,587.009,004.008,210.008,463.008,994.00
Investments241.00235.00210.00214.00215.00207.00
Investment in Unconsolidated Affiliates327.00316.00324.00301.00295.00286.00
Net Property, Plant & Equipment2,229.002,234.002,274.002,289.002,256.002,310.00
Deferred Tax Assets195.00199.00193.00212.00248.00280.00
Other Intangible Assets45,749.0045,411.0044,936.0044,797.0044,795.0044,801.00
Total Assets59,806.0059,682.0058,552.0058,710.0058,783.0058,555.00
Total Debt22,332.0022,382.0022,451.0021,449.0021,426.0021,610.00
Long Term Debt20,364.0020,385.0020,423.0019,849.0019,831.0020,506.00
Provision for Risks Charges693.00739.00752.001,165.00791.00816.00
Other Liabilities21,871.0021,128.0020,543.0020,781.0021,207.0020,153.00
Total Liabilities44,896.0044,249.0043,746.0043,395.0043,424.0042,579.00
Preferred Stock - Carrying Value0.000.000.000.000.000.00
Common Equity14,675.0015,183.0014,569.0015,100.0015,153.0015,767.00
Total Shareholders Equity14,675.0015,183.0014,569.0015,100.0015,153.0015,767.00
Accumulated Minority Interest235.00250.00237.00215.00206.00209.00
Total Equity14,910.0015,433.0014,806.0015,315.0015,359.0015,976.00
Total Liabilities & Stockholders Equity59,806.0059,682.0058,552.0058,710.0058,783.0058,555.00
Book Value Per Share30.8731.7730.2231.1430.9232.07
Tangible Book Value Per Share-30.38-28.61-29.68-29.80-27.48-26.28
Full-Time Employees---95,000--
Price to Book Ratio6.725.525.576.006.287.66
Return on Assets6.826.736.797.227.607.70
Return on Equity27.1025.7227.4129.2528.6228.33
Return on Invested Capital2.313.563.282.352.143.34
Quick Ratio1.091.141.111.101.121.20
Current Ratio1.091.141.111.101.121.20

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Funds from Operations1,072.001,651.001,625.001,243.001,140.001,642.00
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital406.00-128.00-2,313.00918.00942.0029.00
Income Taxes Payable-100.0012.00157.00-185.007.0012.00
Cash from Operating Activities1,478.001,523.00-688.002,161.002,082.001,671.00
Capital Expenditures-81.00-72.00-62.00-105.00-72.00-59.00
Net Assets From Acquisitions-134.00-88.00-41.00-428.00-162.00-44.00
Sale of Fixed Assets and Businesses4.000.0012.007.000.00-10.00
Purchase or Sale of Investments-9.00-55.00-7.00-5.0010.00-5.00
Purchase of Investments-11.00-55.00-8.00-9.00-2.00-5.00
Sale Or Maturity of Investments2.000.001.004.0012.000.00
Other Uses-8.000.00-6.006.00-3.00-3.00
Other Sources0.000.000.002.000.000.00
Cash from Investing Activities-228.00-215.00-104.00-523.00-227.00-121.00
Cash Dividends Paid-476.00-438.00-440.00-444.00-445.00-405.00
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00
Change in Capital Stock-477.00-729.00-692.00-972.00-365.00-253.00
Repurchase of Common Pref Stock-504.00-757.00-755.00-1,010.00-402.00-300.00
Sale of Common Pref Stock27.0028.0063.0038.0037.0047.00
Proceedsfrom Stock Options27.0028.0063.0038.0037.0047.00
Issuance or Reduction of Debt, Net-38.00-30.001,039.00-5.00-4.00-903.00
Change in Long Term Debt-637.00-5.00-10.00-5.00-4.00-903.00
Issuance of Long Term Debt0.000.00595.00---898.00
Reduction of Long Term Debt-637.00-5.00-605.00-5.00-4.00-5.00
Net Financing Active Other Cash Flow-87.00451.00207.00-627.00211.00-134.00
Other Financing Activities Uses-96.00-48.00-166.00-396.00-39.00-29.00
Cash from Financing Activities-1,078.00-746.00114.00-2,048.00-753.00-1,695.00
Exchange Rate Effect40.00-14.00-127.0058.00-138.00510.00
Net Change in Cash212.00548.00-805.00-352.00964.00365.00
Free Cash Flow1,397.001,451.00-750.002,056.002,010.001,612.00
Price to Free Cash Flow34.7126.7826.3927.5331.4435.64

Revenue breakdown

Consolidation, Policy2024: -70.00M 2025: -78.00M
Other Geographic Areas2024: 9.26B 2025: 9.90B
United Kingdom2024: 3.60B 2025: 3.82B
United States2024: 11.67B 2025: 13.34B
Consolidation, Policy2024: -130.00M 2025: -151.00M
Consulting2024: 9.19B 2025: 9.87B
Risk and Insurance Services2024: 15.40B 2025: 17.27B

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-301.28%6.1M475.1M2.42M
2026-10-151.42%6.8M475.1M2.56M
2026-09-301.33%6.3M476.8M2.48M
2026-09-151.23%5.9M476.8M2.39M
2026-08-311.39%6.6M476.8M2.48M
2026-08-141.55%7.4M476.8M2.61M
2026-07-311.57%7.5M476.7M2.80M
2026-07-151.41%6.7M476.7M2.82M
2026-06-301.40%6.7M481.3M2.87M
2026-06-151.52%7.3M480.9M3.00M
2026-05-291.52%7.3M481.3M2.99M
2026-05-151.44%6.9M481.3M3.03M
2026-04-301.22%5.9M481.3M3.18M
2026-04-151.23%5.9M481.3M3.19M
2026-03-311.17%5.7M483.7M3.17M
2026-03-131.13%5.5M483.7M2.89M
2026-02-271.09%5.3M483.7M2.92M
2026-02-131.15%5.6M483.7M2.88M
2026-01-301.42%6.9M489.5M2.73M
2026-01-151.00%4.9M489.5M2.82M

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call12580.5083.8045.702.0780.000.000.996-0.0290.004
call13075.5078.500.001.8350.000.000.996-0.0300.004
call13570.5073.600.001.7430.000.000.995-0.0300.004
call14065.5068.600.001.6180.000.000.995-0.0300.004
call14561.2063.400.001.4310.000.000.994-0.0300.005
call15056.2058.500.001.3480.000.000.994-0.0310.005
call15550.5053.600.001.2630.000.000.976-0.1080.018
call16045.5048.8018.621.2001.000.000.974-0.1060.020
call16540.5043.6010.501.0401.000.000.971-0.1040.021
call17035.5038.8028.760.97512.000.000.968-0.1020.023
call17530.6034.0033.500.90158.000.000.964-0.0990.026
call18026.2028.8023.200.75586.000.000.958-0.0960.028
call18521.3023.9020.350.6621355.000.952-0.0920.032
call19017.1018.9016.070.5502510.000.884-0.1850.063
call19511.7014.409.500.49582.000.000.825-0.2190.083
call2007.609.605.900.3882660.000.725-0.2650.108
call2100.902.802.430.3001560.000.421-0.2420.126
call2200.000.650.550.3223960.000.149-0.1500.075
call2300.002.150.000.5120.000.000.088-0.1480.051
call2400.002.150.000.6480.000.000.073-0.1620.045
call2500.002.150.000.7730.000.000.063-0.1730.040
call2600.002.150.000.8670.000.000.050-0.1610.033
call2700.003.600.000.9890.000.000.051-0.1910.034
put1250.002.150.001.2210.000.00-0.004-0.0250.004
put1300.002.150.051.1321.000.00-0.004-0.0250.004
put1350.002.150.001.0450.000.00-0.005-0.0240.004
put1400.002.150.050.9684.000.00-0.005-0.0240.005
put1450.002.150.000.8990.000.00-0.005-0.0240.005
put1500.000.050.050.79615.000.00-0.006-0.0220.005
put1550.002.150.470.98114.000.00-0.024-0.1000.018
put1600.002.150.570.89447.000.00-0.026-0.0980.020
put1650.001.550.300.8031290.00-0.029-0.0960.021
put1700.002.150.350.71550.000.00-0.032-0.0930.023
put1750.002.150.400.62761.000.00-0.036-0.0900.026
put1800.000.951.140.54153.000.00-0.041-0.0860.028
put1850.000.300.150.4555844.00-0.048-0.0820.032
put1900.050.900.240.4878630.00-0.116-0.1740.063
put1950.201.300.800.4346781.00-0.175-0.2070.083
put2000.302.552.250.4388570.00-0.274-0.2530.108
put2104.206.107.400.37133.001.00-0.578-0.2290.126
put22012.1014.200.000.4600.000.00-0.851-0.1360.075
put23021.4023.900.000.6150.000.00-0.907-0.1320.053
put24031.6034.600.000.8750.000.00-0.925-0.1460.046
put25041.8044.600.001.0330.000.00-0.936-0.1560.040
put26051.5054.600.001.1780.000.00-0.943-0.1650.037
put27060.7064.600.001.3130.000.00-0.948-0.1710.034

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-094Statement of changes in beneficial ownership of securities2026-11-05SEC
2026-11-05144Filing for proposed sale of securities under Rule 144.SEC
2026-11-044Statement of changes in beneficial ownership of securities2026-11-02SEC
2026-10-28CERTSEC
2026-10-278-A12BSEC
2026-10-278-KCurrent report2026-10-27SEC
2026-10-264Statement of changes in beneficial ownership of securities2026-10-23SEC
2026-10-264Statement of changes in beneficial ownership of securities2026-10-23SEC
2026-10-23144Filing for proposed sale of securities under Rule 144.SEC
2026-10-23144Filing for proposed sale of securities under Rule 144.SEC
2026-10-22424B2SEC
2026-10-20FWPFiling under Securities Act Rule 163/433 of free writing prospectuses.SEC
2026-10-19424B2SEC
2026-10-1510-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-10-158-KCurrent report2026-10-15SEC
2026-09-2125-NSESEC
2026-09-034Statement of changes in beneficial ownership of securities2026-09-02SEC
2026-09-034Statement of changes in beneficial ownership of securities2026-09-02SEC
2026-09-02144Filing for proposed sale of securities under Rule 144.SEC
2026-09-02144Filing for proposed sale of securities under Rule 144.SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-15SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-15SEC
2026-08-074Statement of changes in beneficial ownership of securities2026-08-06SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-1100151.71K1
2026-10001.08M2
2026-09003.36M2
2026-08001.25M1
2026-07003.60M3
2026-06002.69M1
2026-050000
2026-040000
2026-03004.17M3
2026-020000
2026-010000
2025-12003.84M1
2025-110000

Institutional holders

Manager% owned
BlackRock, Inc.8.20%
VANGUARD CAPITAL MANAGEMENT LLC6.53%
STATE STREET CORP4.65%
Capital World Investors3.76%
WELLINGTON MANAGEMENT GROUP LLP3.52%
Capital International Investors3.26%
PRICE T ROWE ASSOCIATES INC /MD/2.79%
VANGUARD PORTFOLIO MANAGEMENT LLC2.61%
GEODE CAPITAL MANAGEMENT, LLC2.53%
Capital Research Global Investors2.28%

Funds

Fund% owned
Washington Mutual Investors Fund4.25%
Baird Aggregate Bond Fund1.75%
Ultra-Short Fixed Income Fund1.10%
Avantis Core Fixed Income ETF1.00%
American Funds Fundamental Investors0.82%
Investment Co of America0.79%
Tax-Advantaged Ultra-Short Fixed Income Fund0.73%
American Balanced Fund0.58%
American Mutual Fund0.56%
Empower Core Strategies: Flexible Bond Fund0.38%

OakChart. MRSH. Cached 15 minutes.