MARSH & MCLENNAN COMPANIES, INC.(MRSH)Stock Analysis
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Rank #258 of 2,879 stocksTOP 10%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
MRSH Stock Analysis & AI Quality Score
AI stock analysis and institutional research for MARSH & MCLENNAN COMPANIES, INC. (MRSH), a Financials sector company. 13F Pro's AI-powered ranking engine scores MRSH at 71.5/100 on a 32-signal composite quality model, placing it at rank #258 of 2,879 stocks — the top 10% of the AI-ranked universe. MRSH scores in the top quartile across revenue scale (95.1), institutional flow (84.2), balance sheet strength (80.5). Shareholder dilution risk is elevated at 47.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), MARSH & MCLENNAN COMPANIES, INC. reports quarterly revenue of $7.6B, net income of $1.1B, an operating margin of 23.1%. Top institutional holders of MRSH by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. MRSH trades on the NYSE exchange and files with the SEC under CIK 62709. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MRSH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MARSH & MCLENNAN COMPANIES, INC. directly from SEC EDGAR. MARSH & MCLENNAN COMPANIES, INC.'s 13F Pro composite quality score has ranged between 8 and 77 since 2024, currently 71.5 — a stable long-term trajectory across 44 quarterly and live scoring snapshots.
What's Driving MRSH's Business? Latest 10-Q Breakdown
✓ 16/16 datapoints verifiedAI-extracted from MARSH & MCLENNAN COMPANIES, INC.'s 10-Q filed 2026-04-16 — Q1 FY2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Marsh & McLennan reported Q1 2026 revenue of $7.6B (+8% YoY) but operating income fell 12% to $1.8B due to a $425M Greensill litigation charge, with diluted EPS declining 15% to $2.36.
Biggest Revenue Drivers
Total revenue: $7.6B+8% YoY
Underlying growth of 3% driven by higher new business and renewal revenue at Marsh Risk, offset by declining insurance premium rates; fiduciary interest income declined due to lower interest rates.
Underlying growth of 5% driven by solid growth in Health and Wealth, positive net flows in investment management, offset by Career contraction in U.S./Canada project work.
Largest Expense Items
Increased due to higher base salaries and incentive compensation across both segments.
Includes $425M Greensill litigation liability and legal expenses, plus restructuring costs of $45M, primarily severance.
Margins: Risk and Insurance Services operating margin compressed to 26.0% from 33.9% YoY, primarily due to the $425M Greensill litigation charge recorded in Q1 2026. Consulting margin improved to 20.5% from 19.7%, driven by revenue growth outpacing expense increases.
Watch Items from the Filing
- $425M Greensill litigation liability recorded in Q1 2026 related to Australian proceedings; trial scheduled September 2026, with potential for material variances from current estimate.
- Risk and Insurance Services segment operating income declined 19% YoY to $1.3B despite 6% revenue growth, due to Greensill litigation impact and expense increases.
- Thrive restructuring program expects ~$500M total costs over three years with ~$400M annualized savings; $187M cumulative costs incurred through Q1 2026 with continued refinement of detailed plans.
- Foreign exchange provided ~3% tailwind to Q1 2026 revenue growth; sustained USD strengthening would reduce translated value of non-U.S. subsidiaries and repatriations, with ~51% of revenue exposed to FX.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$7.6B
Net Income
Q1 2026
$1.1B
Free Cash Flow
Q1 2026
$-750.0M
Operating Margin
Q1 2026
23.1%
D/E Ratio
Q1 2026
1.55
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+10.3% YoYNet Income
+2.5% YoYOperating Income
+7.0% YoYEPS (Diluted)
+3.1% YoYTotal Assets
+3.9% YoYTotal Debt
+5.4% YoYOp. Cash Flow
+23.0% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $26.98B +10.3% | $24.46B +7.6% | $22.74B +9.7% | $20.72B +4.5% | $19.82B +19.0% | $16.65B |
| Net Income | $4.16B +2.5% | $4.06B +8.1% | $3.76B +23.1% | $3.05B -3.0% | $3.14B +80.4% | $1.74B |
| Operating Income | $6.22B +7.0% | $5.82B +10.1% | $5.28B +23.4% | $4.28B -0.7% | $4.31B +61.1% | $2.68B |
| EPS (Diluted) | $8.43 +3.1% | $8.18 +8.6% | $7.53 +24.7% | $6.04 -1.5% | $6.13 +79.8% | $3.41 |
| Total Assets | $58.71B +3.9% | $56.48B +17.6% | $48.03B +8.9% | $44.11B +0.2% | $44.01B +40.4% | $31.36B |
| Total Debt | $22.12B +5.4% | $20.98B +25.7% | $16.70B +35.8% | $12.30B +11.8% | $11.00B -29.5% | $15.60B |
| Operating Cash Flow | $5.29B +23.0% | $4.30B +1.0% | $4.26B +22.9% | $3.46B -1.5% | $3.52B +48.9% | $2.36B |
AI Insight: MRSH Financial Trends
Revenue growth accelerated to 7.6% year-over-year in Q1 2026, but operating cash flow turned negative again in the quarter, masking underlying cash generation strength.
• Q1 2026 revenue reached $7,597M, up 7.6% from $7,061M in Q1 2025; full-year 2025 revenue of $26,617M exceeded 2024's $25,645M.
• Operating income margin in Q1 2026 was 23.1% versus 28.4% in Q1 2025; full-year 2025 operating margin of 17.8% versus 18.0% in 2024.
• Total debt rose 57.4% from $14,581M in Q2 2024 to $22,957M in Q1 2026; leverage increased materially over the past two years.
⚠ Operating cash flow swung to negative $688M in Q1 2026, matching Q1 2025's negative $622M; seasonal working capital headwind or structural concern.
⚠ Net income declined 17% year-over-year in Q1 2026 to $1,146M from $1,381M in Q1 2025 despite revenue growth; margin compression ongoing.
AI Insight: MRSH Ratio Trends
MRSH shows strong Q1 2026 rebound with operating margin at 23.1%, but underlying volatility masks persistent weakness in profitability metrics.
• Operating margin recovered to 23.1% in Q1 2026 from 18.5% in Q4 2025, reversing four consecutive quarters of sub-20% performance.
• ROIC improved to 30.6% in Q1 2026 from 22.0% in Q4 2025, though still below the 34.6%–36.8% range seen in mid-2025.
• Net profit margin at 15.1% in Q1 2026 remains materially below the 17.4%–19.6% achieved in first half 2025.
⚠ Stark profitability swings: OpMargin ranged 18.4%–28.4% across last eight quarters, suggesting seasonal or structural earnings volatility.
⚠ ROA deteriorated from 9.7% (Q1 2025) to 7.8% (Q1 2026), a 190 bps decline year-over-year despite margin recovery.
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Top Institutional Holders of MRSH
BlackRock, Inc.
$7.3B42,061,676 shVANGUARD CAPITAL MANAGEMENT LLC
$5.5B31,467,674 shSTATE STREET CORP
$3.8B22,070,945 shCapital World Investors
$3.1B17,969,182 shWELLINGTON MANAGEMENT GROUP LLP
$3.0B17,370,709 shCapital International Investors
$2.7B15,713,853 shGEODE CAPITAL MANAGEMENT, LLC
$2.3B13,404,172 shVANGUARD PORTFOLIO MANAGEMENT LLC
$2.2B12,427,946 shCapital Research Global Investors
$2.0B11,301,188 shFMR LLC
$1.8B10,180,705 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $7.3B | 42,061,676 |
| VANGUARD CAPITAL MANAGEMENT LLC | $5.5B | 31,467,674 |
| STATE STREET CORP | $3.8B | 22,070,945 |
| Capital World Investors | $3.1B | 17,969,182 |
| WELLINGTON MANAGEMENT GROUP LLP | $3.0B | 17,370,709 |
| Capital International Investors | $2.7B | 15,713,853 |
| GEODE CAPITAL MANAGEMENT, LLC | $2.3B | 13,404,172 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2.2B | 12,427,946 |
| Capital Research Global Investors | $2.0B | 11,301,188 |
| FMR LLC | $1.8B | 10,180,705 |
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Is MRSH a good stock to buy?
13F Pro's AI-powered analysis of MARSH & MCLENNAN COMPANIES, INC. (MRSH) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for MRSH are available on the MRSH stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own MRSH?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling MRSH. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of MARSH & MCLENNAN COMPANIES, INC.'s investment landscape.