Marsh & McLennan Companies, Inc.

MMC · CIK 0000062709insurer template: specialized rows coming in Phase 1

19 fiscal years · 71 SEC filings · every number carries its receipt

Revenue (FY)

$26.98B10.3%

FY2025

Net income (FY)

$4.16B2.5%

FY2025

Free cash flow (FY)

$5.00B25.5%

FY2025

Diluted EPS (FY)

$8.433.1%

FY2025

The story, charted

The shape of the business

FY2016–FY2025 · hover any year for its receipt

Revenue & net incomeRevenueNet income

revenue 2.0× since FY2016 · net margin 13.4% → 15.4%

MarginsNet marginFCF margin

FY2025: net 15.4% · free cash flow 18.5% of revenue

Cash engineOperating cash flowFree cash flow

FY2025: $5.29B operating cash − $291.0M capex = $5.00B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity -1% (FY2008) → 27% (FY2025) · on assets 7.1%

The receipts

Financial statements

Annual Quarterly (as reported)

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

USD millions	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Revenue	7,597	6,351	6,974	7,061	5,697	6,221	6,473	5,382	5,876	5,924	4,770	5,379
Net income	1,146	747	1,211	1,381	747	1,125	1,400	730	1,035	1,235	546	967
Diluted EPS	2.36	1.51	2.45	2.79	1.51	2.27	2.82	1.47	2.07	2.47	1.08	1.91
Diluted shares	486	494	495	495	496	496	497	499	499	500	503	506
Operating cash flow	(688)	—	—	(622)	—	—	(781)	—	—	(819)	—	—
Capital expenditures	62	—	—	55	—	—	87	—	—	84	—	—
Free cash flow	(750)	—	—	(677)	—	—	(868)	—	—	(903)	—	—
Cash & equivalents	1,611	2,511	1,677	1,604	1,798	1,653	1,452	2,901	1,171	1,006	802	909
Total assets	58,552	58,783	58,555	57,015	49,864	48,591	47,572	48,000	46,566	34,358	32,023	33,440
Shareholders' equity	14,806	15,359	15,976	14,268	13,882	13,565	12,622	11,586	12,139	11,196	9,791	10,917

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. Quarterly view shows as-reported 10-Q periods; Q4 synthesis ships in Phase 1. See methodology.