Marsh is a professional services firm that provides advice and solutions in the areas of risk, strategy, and human capital. The company operates through two main segments: risk and insurance services and consulting.
It is a $83.9B financial services company. Revenue grew 8.3% over the last year, and it keeps 14¢ of every dollar of sales as profit. It trades at 21.1× earnings — around the middle of its own history.
- Website
- corporate.marsh.com
- Location
- New York, NY
- Employees
- 55 700
- Sector
- Financial Services
- Next earnings
- Oct 15, 2026 · in 3d
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong profitability, quality and moat; Health lags behind.
Valuation62
- P/E vs own history45th pct · 12/25
- FCF yield5.7% · 20/25
- P/S3.0x · 20/25
- EV/EBITDAn/a · 10/25
Growth61
- Revenue CAGR8.0% · 12/25
- Net income CAGR7.3% · 12/25
- EPS CAGR ~5Y8.3% · 12/25
- Fwd implied growth38.2% · 25/25
Profitability77
- ROIC12.9% · 12/25
- ROE26.5% · 25/25
- Net margin14.2% · 20/25
- Operating margin21.6% · 20/25
Health42
- Altman Zn/a · 0/25
- Current ratio1.14 · 12/25
- Interest coverage7.3x · 18/25
- Net cash / debtD/A 29% · 12/25
Quality92
- Piotroski F7/9 · 22/25
- Beneish M-2.49 · 20/25
- FCF conversion120% · 25/25
- Margin stabilityσ 2.9% · 25/25
Moat95
- ROIC >12% years5/5 yrs · 25/25
- Median gross margin43.9% · 20/25
- FCF-positive years5/5 yrs · 25/25
- Worst-year net marginworst 14.7% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$4.16B net income
- FY2021FinancialProfitable every year on record5 consecutive profitable years in our data
- FY2021FinancialRevenue already above $10B$19.8B in first reported year
- FY2021FinancialPositive free cash flow every year since5-year streak
- 2020AcquisitionMarsh acquired Schaumburg, Illinois-based independent insurance agency, Assurance Holdings, Inc
- 2004MilestoneMarsh was involved in a brokerage bid rigging scandal that plagued much of the insurance industry,…
- 2001AcquisitionAs the company continued to expand globally, Marsh acquired South African company Alexander Forbes’ African…
- 1962IPOThe 1960s era was a particularly notable period for the company, including an initial public offering in 1962 and a…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Strong cash conversion — FCF is 17.1% of revenue
- Interest covered 7.3× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+8.3% YoY
- Profitable — makes more than it spends$3.98B TTM
- Profit growing — earnings are higher than last year+11.7% YoY
- Generates cash — cash left after running and investing$4.77B TTM
- Debt under control — could handle its obligations~3.5y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$83.9B market cap
- Not printing shares — share count not ballooning — you keep your slice-3.7% shares over ~5y
- Proven track record — years of profitability behind it5/5 profitable years
- Financially stable — balance sheet not near distresshealth score 30/100
- Pays a dividend — returns cash to shareholdersyield 2.11%
- Valuation not extreme — price not wildly above earningsP/E 21.1
Peer comparisonMarsh vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| MRSH this company | $83.9B | 21.1 | +8.3% | 14.2% | Strained |
| BRK.A Berkshire Hathaway Inc. | $1.1T | 11.6 | +3.9% | 22.3% | Mixed |
| BRK.B Berkshire Hathaway | $1.1T | 11.6 | +0.0% | 18.0% | Strong |
| JPM JPMorgan Chase & Co. | $886.2B | 13.6 | +13.5% | 32.6% | Strained |
| V VISA Inc. | $723.9B | 31.9 | +14.4% | 50.8% | Solid |
| MA Mastercard Incorporated | $516.4B | 31.7 | +16.0% | 46.3% | Mixed |
| BAC Bank of America Corporation | $380.4B | 11.3 | +15.9% | 27.8% | Mixed |
Head-to-head: MRSH vs BRK.A · MRSH vs BRK.B · MRSH vs JPM
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/MRSH
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of MRSH on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $175.76 · market cap $83.9B.