Summary
Marsh & McLennan Companies, Inc. (MRSH) reported strong financial performance for the fiscal year ending December 31, 2025. The company generated $27.0 billion in consolidated revenue, representing a 10% increase (4% on an underlying basis) compared to the prior year. This growth was driven by robust performance in both the Risk and Insurance Services segment, which saw revenue increase by 12% to $17.3 billion, and the Consulting segment, with revenue up 7% to $9.8 billion. Net income attributable to the company rose to $4.2 billion, resulting in diluted earnings per share of $8.43, a 3% increase year-over-year. The company continues to execute its strategic growth initiatives, including significant investment in technology and operational efficiency through its 'Thrive' program. Acquisitions remain a key part of the strategy, with the company completing 20 acquisitions in 2025 for a total consideration of $857 million. Notably, the McGriff acquisition, completed in late 2024, significantly contributed to the Risk and Insurance Services segment's growth. Marsh & McLennan also demonstrated a strong commitment to shareholder returns, repurchasing $2.0 billion of its common stock and paying $1.7 billion in dividends during 2025. The company's financial position remains solid, with a credit rating of A- (Stable) from S&P and Fitch, and A3 (Stable) from Moody's.
Financial Highlights
51 data points| Revenue | $26.98B |
| Operating Expenses | $20.76B |
| Operating Income | $6.22B |
| Net Income | $4.23B |
| EPS (Basic) | $8.48 |
| EPS (Diluted) | $8.43 |
| Shares Outstanding (Basic) | 491.00M |
| Shares Outstanding (Diluted) | 494.00M |
Key Highlights
- 1Consolidated revenue reached $27.0 billion in 2025, up 10% year-over-year (4% underlying), driven by strong performance in both major segments.
- 2Risk and Insurance Services segment revenue grew 12% to $17.3 billion, with Marsh Risk and Guy Carpenter showing solid increases.
- 3Consulting segment revenue increased 7% to $9.8 billion, with both Mercer and Marsh Management Consulting contributing to the growth.
- 4Net income attributable to the company was $4.2 billion, and diluted EPS grew 3% to $8.43.
- 5The company repurchased $2.0 billion of its common stock and paid $1.7 billion in dividends in 2025, indicating a commitment to shareholder returns.
- 6Completed 20 acquisitions in 2025 for a total consideration of $857 million, supporting the company's growth strategy.
- 7The company is actively investing in its 'Thrive' program focused on brand strategy, client value, growth, and efficiency, including investments in AI and data analytics.