Marsh & McLennan Companies, Inc. (MRSH) Stock Price & Analysis
Marsh & McLennan Companies, Inc. (MRSH) closed at USD 199.27 on Thursday, October 22, 2026, up 4.57% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 190.56; the Oct 22, 2026 session ranged USD 191.72–199.59 on volume of 3,065,179 shares. Market capitalization is $95.09B, with a 52-week range of USD 156.6–199.59 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:23 UTC.
Also available as compact Markdown for AI agents: nexqual.com/MRSH.md
Latest Earnings Results (MRSH)
| Fiscal period | EPS (reported) | Revenue | Released | Source |
|---|---|---|---|---|
| Q3 2026 | $2.03 (adjusted (non-GAAP) diluted) | $6.86B | Oct 15, 2026, 8:05:07 AM ET · on Nexqual +30 seconds | SEC 8-K filing |
Reported actuals captured by Nexqual from SEC 8-K filings and company press releases; each figure confirmed by two independent extraction methods.
Key facts (MRSH)
- Last four reported quarters (through Sep 30, 2026): revenue $28.5B, net income $4.04B (14.2% margin), free cash flow $4.15B (SEC filings).
- Valuation: P/E 23.5x (avg 24.4x at the last 3 fiscal year-ends), EV/EBITDA 17.4x, net debt $17.1B.
- 6 of 80 tracked superinvestors hold MRSH (13F, Q2 2026): 0 new, 2 added, 3 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 7 Form 4 filings, $10.9M; 4 not under a Rule 10b5-1 plan ($4.9M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.70 on a 1–5 scale) (23 analysts), mean target USD 205.38 (range 180–228).
- Total return with dividends: 1Y +8.3% vs S&P 500 +14.9%; 5Y +27.4% vs S&P 500 +80.3%.
- Next earnings: 2026-10-15, EPS estimate USD 2.21, revenue estimate $6.91B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MRSH)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $19.8B | $20.7B | $22.7B | $24.5B | $27.0B | $28.5B |
| Operating income | $4.31B | $4.28B | $5.28B | $5.82B | $6.22B | $6.09B |
| Net income | $3.14B | $3.05B | $3.76B | $4.06B | $4.16B | $4.04B |
| EPS (diluted) | $6.13 | $6.04 | $7.53 | $8.18 | $8.43 | — |
| Free cash flow | $3.11B | $3.00B | $3.84B | $3.99B | $5.00B | $4.15B |
| Operating margin | 21.8% | 20.7% | 23.2% | 23.8% | 23.1% | 21.4% |
| Net margin | 15.9% | 14.7% | 16.5% | 16.6% | 15.4% | 14.2% |
| Revenue growth | +15.1% | +4.5% | +9.7% | +7.6% | +10.3% | — |
| Cash + short-term investments | $1.75B | $1.44B | $3.36B | $2.40B | $2.69B | — |
| Total debt | $10.9B | $11.5B | $13.5B | $19.9B | $19.6B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 30, 2026) (MRSH)
P/E 23.5x · P/S 3.3x · EV/EBITDA 17.4x · EV/Sales 3.9x · P/FCF 22.9x · P/B 6.4x · FCF yield 4.37% · Earnings yield 4.25% · Dividend yield (paid, TTM) 1.89% · Buyback yield (TTM) 3.18% · Net debt $17.1B · EV $112B
P/E at fiscal year-ends: Dec 2025 22.0x, Dec 2024 25.9x, Dec 2023 25.2x.
Superinvestors (SEC 13F-HR, Q2 2026) (MRSH)
6 of 80 tracked investors hold MRSH. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Jensen Investment Management | 3.98% | $164M | Reduced -14.4% | |
| Torray Funds | 2.08% | $15.4M | Reduced -1.7% | |
| Bill Nygren | Oakmark Funds | 1.93% | $1.45B | Added +68.1% |
| Thomas Gayner | Markel Group | 0.97% | $127M | Unchanged |
| First Pacific Advisors | 0.25% | $20.2M | Added +11.5% | |
| Mairs & Power | Mairs & Power Funds | <0.01% | $200K | Reduced -7.7% |
Insider sales (SEC Form 4, open-market, last ~7 months) (MRSH)
3 of 7 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-02 | Brennan Katherine | SVP and General Counsel | 1,197 | $225K | 14% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-09-02 | Doyle John Q | President and CEO | 16,656 | $3.1M | 12.5% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-06 | Jones John Jude | Chief Marketing Officer | 6,500 | $1.2M | 66.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-29 | Beswick Paul | SVP, Chief Information Officer | 713 | $141K | 4.2% | Yes | Too little history (no open-market trades in 2023) |
| 2026-07-28 | South Martin | Chief Client Officer | 7,100 | $1.3M | 29.9% | No | Too little history (no open-market trades in 2023) |
| 2026-07-23 | Yates Lloyd M | Director | 12,000 | $2.1M | 50% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-02 | Doyle John Q | President and CEO | 16,656 | $2.7M | 12.5% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (MRSH)
Consensus Hold (mean 2.70 on a 1–5 scale), 23 analysts; mean target USD 205.38 (low 180, high 228).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | JP Morgan | Target raised | Overweight | $215 → $218 |
| 2026-10-19 | Mizuho | Target raised | Neutral | $190 → $200 |
| 2026-10-19 | Keefe, Bruyette & Woods | Target raised | Market Perform | $186 → $201 |
| 2026-10-16 | Citigroup | Target raised | Neutral | $200 → $203 |
| 2026-10-16 | Wells Fargo | Target raised | Equal-Weight | $183 → $197 |
| 2026-10-12 | Wells Fargo | Target lowered | Equal-Weight | $188 → $183 |
| 2026-10-07 | Mizuho | Target lowered | Neutral | $201 → $190 |
| 2026-10-06 | Morgan Stanley | Target lowered | Equal-Weight | $200 → $180 |
| 2026-10-06 | UBS | Target raised | Buy | $216 → $222 |
| 2026-10-01 | JP Morgan | Target raised | Overweight | $212 → $215 |
| 2026-08-19 | Morgan Stanley | Target raised | Equal-Weight | $180 → $200 |
| 2026-07-27 | UBS | Target raised | Buy | $212 → $216 |
Total return (dividends reinvested) (MRSH)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +8.3% | +27.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +8.3% | +4.9% |
| Volatility (annualized) | 25.8% | 19.9% |
| Max drawdown | -16.7% (Feb 2026→Jun 2026) | -32.5% (Mar 2025→May 2026) |
MRSH revenue by business segment (quarter ended Sep 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Risk and Insurance Services | $4.20B | 61.2% | +7.5% |
| Consulting | $2.69B | 39.1% | +8.9% |
| Total revenue | $6.86B | 100% | — |
MRSH revenue by product line (quarter ended Sep 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Investments & Retirement | $762.0M | 11.1% | +8.1% |
| Health & Benefits | $578.0M | 8.4% | +4.1% |
| Workforce & Rewards | $332.0M | 4.8% | +4.1% |
| Total revenue | $6.86B | 100% | — |
MRSH revenue by region (fiscal year ended Dec 31, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $13.34B | 49.5% | +14.3% |
| Other Geographic Areas | $9.90B | 36.7% | +6.9% |
| UNITED KINGDOM | $3.82B | 14.1% | +6.1% |
| Total revenue | $26.98B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
MRSH analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $2.21 | $2.23 | -0.5% | $6.91B | 21 |
| Next quarter (ends Mar 2027) | $3.58 | $3.56 | +0.3% | $7.96B | 19 |
| Current fiscal year (ends Dec 2026) | $10.48 | $10.42 | +0.6% | $28.72B | 22 |
| Next fiscal year (ends Dec 2027) | $11.45 | $11.36 | +0.8% | $30.10B | 23 |
Key Statistics (as of October 23, 2026 at 09:23 UTC)
| Price | USD 199.27 |
|---|---|
| Change | ▲ 4.57% (up) |
| Previous Close | USD 190.56 |
| Open | USD 192 |
| Day Range | USD 191.72 – 199.59 |
| 52-Week Range | USD 156.6 – 199.59 |
| Volume | 3,065,179 shares |
| Market Cap | $95.09B |
| Exchange | NYQ |
Technical Analysis (MRSH)
Nexqual's technical model rates MRSH "BUY" based on 5 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 09:23 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 77.35 (overbought) |
| vs SMA50 | Above (USD 181.42) |
| MACD | 4.06 (positive) |
Analyst Ratings (MRSH)
Wall Street analysts rate MRSH "Hold" based on 23 analysts, with a mean price target of USD 205.38 (range USD 180–228), per Nexqual as of October 23, 2026 at 09:23 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 23 |
| Mean Target | USD 205.38 |
| High Target | USD 228 |
| Low Target | USD 180 |
| Buy / Hold / Sell | 7 / 15 / 1 |
Earnings (MRSH)
| Next Earnings Date | 2026-10-15 |
|---|---|
| EPS Estimate | USD 2.21 |
| Revenue Estimate | $6.91B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 2.03 vs est 1.97 ▲ beat |
| 2026-06-30 | USD 2.96 vs est 2.89 ▲ beat |
| 2026-03-31 | USD 3.29 vs est 3.22 ▲ beat |
| 2025-12-31 | USD 2.12 vs est 1.97 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financials & Fundamentals (MRSH)
| Total Revenue | $28.46B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +8.10% |
| Gross Margin | +44.48% |
| Operating Margin | +18.40% |
| Profit Margin | +14.20% |
| ROE | +27.24% |
| Debt / Equity | 1.5 |
| Current Ratio | 1.09 |
| Total Cash | $1.84B |
| Total Debt | $22.33B |
| Free Cash Flow (last four quarters to Sep 2026, SEC 10-Q / 10-K) | $4.15B (14.6% of revenue) |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financial Health Score (MRSH)
Nexqual rates Marsh & McLennan Companies, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:23 UTC.
| Growth | Solid — Revenue +10% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 44%, operating 18% (last 12 months) |
| Balance Sheet | Mixed — $1.84B cash and investments vs $18.9B debt (Sep 2026, SEC) |
| Cash Flow | Solid — FCF $4.15B (last 4 quarters to Sep 2026, SEC), 15% margin |
| Efficiency | Strong — ROE 27%, ROA 7.3% |
Ownership (MRSH)
| Insider Ownership | +0.08% |
|---|---|
| Institutional Ownership | +94.38% |
| Shares Outstanding | 477.21M |
| Float | 474.57M |
| Short % of Float | +1.34% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Leadership (MRSH)
Marsh & McLennan Companies, Inc. is led by John Quinlan Doyle, President, CEO & Director, per Nexqual as of October 23, 2026 at 09:23 UTC.
| President, CEO & Director | John Quinlan Doyle |
|---|---|
| Executive VP, CFO & COO | Mark Christopher McGivney |
| Vice Chair, President & CEO of Marsh Re | Dean M. Klisura |
| Vice Chair, President & CEO of Marsh People and Investments | Patrick Tomlinson |
| Senior VP and Chief Marketing & Communications Officer | John Jones |
Major Backers & Investors (MRSH)
Notable institutional backers of Marsh & McLennan Companies, Inc. include Capital Group, WASHINGTON MUTUAL INVESTORS FUND, Wellington Management, according to Nexqual as of October 23, 2026 at 09:23 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Capital Group | 6.12% |
| WASHINGTON MUTUAL INVESTORS FUND | 4.26% |
| Wellington Management | 3.57% |
| Capital International Investors | 3.31% |
| Price (T.Rowe) Associates Inc | 2.83% |
| Fidelity | 1.32% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 9.26% |
| BlackRock | 8.31% |
| State Street | 4.71% |
| Geode Capital | 2.84% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
From Marsh & McLennan Companies, Inc.'s Latest SEC 10-K Filing (filed 2026-02-09)
Partnerships
- Other regulatory bodies, such as investment, securities, and futures licensing authorities, govern certain of the Company's Risk and Insurance services activities. •MMC Securities LLC is a SEC registered broker-dealer and introducing broker used by Marsh Risk and Guy Carpenter in the U.S., primarily in connection with capital markets and other investment banking-related services relating to insurance-linked and alternative risk financing transactions.
Legal & Regulatory Risks (Item 1A, quoted)
- We cannot guarantee that we are or will be in compliance with all current and potentially applicable U.S. federal and state or foreign laws and regulations, and actions by regulatory authorities or changes in legislation and regulation in the jurisdictions in which we operate could have a material adverse effect on our business.
- The U.S. and foreign laws and regulations that apply to our operations are complex and may change rapidly, and our efforts to comply and keep up with them require significant resources.
- We may not be able to effectively identify and manage actual and apparent conflicts of interest.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| AJG | Arthur J. Gallagher & Co. | USD 270.98 | ▲ 4.88% |
| AON | Aon plc | USD 306.8 | ▲ 4.23% |
| WTW | Willis Towers Watson Public Lim | USD 332.18 | ▲ 4.58% |
| BRO | Brown & Brown, Inc. | USD 74.49 | ▲ 5.61% |
| ERIE | Erie Indemnity Company | USD 256.8 | ▲ 5.19% |
| RYAN | Ryan Specialty Holdings, Inc. | USD 44.49 | ▲ 5.28% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:23 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt