MMC Research | Milton Maxwell

MMC

Marsh & McLennan Companies, Inc.

187.17

-0.13-0.07%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

92.02B

P/E (TTM)

22.42

Basic EPS (TTM)

8.35

Dividend Yield

0.02%

Recent Filings

8-K

Studer named Marsh Risk CEO

3/10/26Mar 10, 2026

Marsh & McLennan announced Nick Studer will succeed Martin South as President and CEO of Marsh Risk, effective April 1, 2026, with South shifting to enterprise-wide Chief Client Officer. Studer brings nearly 30 years, including CEO of Oliver Wyman since 2021. Both stay on the Executive Committee. South's new terms include $1.5M bonus target and $1.75M LTI target.

8-K

Appoints Harrison to board

2/25/26Feb 25, 2026

Marsh & McLennan appointed Peter Harrison, 59, as independent board director on February 25, 2026, expanding the board to 13 members. Harrison brings three decades in investment management, including CEO stints at Schroders and RWC Partners. His financial services expertise bolsters growth strategy. Committee assignments pending proxy disclosure.

8-K

Issues $600M notes due 2036

2/19/26Feb 19, 2026

Marsh & McLennan issued $600 million of 4.950% Senior Notes due 2036 on February 19, 2026, after entering an underwriting agreement on February 11 with Citigroup, J.P. Morgan, and Wells Fargo. Notes fall under the 2011 Indenture, as supplemented. Secured long-term debt. Use of proceeds not disclosed.

10-K

FY2025 results

2/9/26Feb 9, 2026

Marsh & McLennan rang in FY2025 with $27B revenue, up 10% reported and 4% underlying, as Risk and Insurance Services grew 12% to $17.3B while Consulting added 7% to $9.8B; yet margins slipped to 23.1% from 23.8% amid $222M restructuring. Q4 momentum shone through McGriff integration post-November close, fueling U.S./Canada's 21% surge, with operating income climbing 7% to $6.2B and diluted EPS at $8.43. Debt hit $19.6B after $7.25B notes issuance, offset by $2B buybacks and $1.7B dividends; free cash flow not disclosed. Thrive program eyes $400M savings over three years. Geopolitical tensions threaten client demand.

8-K

Solid Q4, full-year growth

1/29/26Jan 29, 2026

Marsh reported Q4 revenue of $6.6B, up 9% GAAP and 4% underlying, with full-year revenue hitting $27.0B, up 10% GAAP and 4% underlying versus 2024. Adjusted operating income rose 11% to $7.3B annually; adjusted EPS climbed 9% to $9.75. Repurchased 10.1M shares for $2.0B. Momentum builds into 2026.

About

Marsh & McLennan Companies, Inc., a professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services. It serves businesses, public entities, insurance companies, associations, professional services organizations, and private clients. The Consulting segment provides health, wealth and career advice, solutions and products; and specialized management, strategic, economic, and brand consulting services. Marsh & McLennan Companies, Inc. was founded in 1871 and is headquartered in New York, New York.

CEO

Mr. John Quinlan Doyle

IPO

2/21/1973

Website

https://www.marshmclennan.com

Employees

90,000

Sector

Financial Services

Industry

Insurance Brokers