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    MRSH

    MARSH & MCLENNAN COMPANIES, INC.

    Company overview

    Market capitalization
    $80.66B
    Employees
    95,000
    Latest publication
    2026-09-29
    About MARSH & MCLENNAN COMPANIES, INC.

    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. The company operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk management, insurance broking, insurance program management, risk consulting, analytical modeling, and alternative risk financing services. This segment also offers insurance and reinsurance broking, strategic advisory and actuarial services, and analytics solutions. 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.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ3 20242024-09-30 · USDQ4 20212021-12-31 · USDQ3 20212021-09-30 · USDQ2 20212021-06-30 · USDQ3 20192019-09-30 · USDQ2 20182018-06-30 · USDQ1 20182018-03-31 · USD
    Total Revenue7,404,000,000USD5,697,000,000USD5,137,000,000USD4,583,000,000USD5,017,000,000USD3,968,000,000USD3,734,000,000USD4,000,000,000USD
    Other Operating Expenses1,364,000,000USD———————
    Total Operating Expenses5,505,000,000USD1,147,000,000USD1,246,000,000USD990,000,000USD929,000,000USD1,064,000,000USD908,000,000USD868,000,000USD
    Operating Income1,899,000,000USD1,108,000,000USD986,000,000USD740,000,000USD1,228,000,000USD467,000,000USD691,000,000USD908,000,000USD
    Total Other Income Expense Net-197,000,000USD-73,000,000USD-25,000,000USD-24,000,000USD-19,000,000USD-53,000,000USD28,000,000USD8,000,000USD
    Interest Income8,000,000USD12,000,000USD——————
    Interest Expense250,000,000USD154,000,000USD109,000,000USD107,000,000USD110,000,000USD133,000,000USD68,000,000USD61,000,000USD
    Labor And Related Expense4,141,000,000USD———————
    Income Before Tax1,702,000,000USD1,035,000,000USD961,000,000USD716,000,000USD1,209,000,000USD414,000,000USD719,000,000USD916,000,000USD
    Income Tax Expense411,000,000USD283,000,000USD154,000,000USD174,000,000USD382,000,000USD108,000,000USD183,000,000USD220,000,000USD
    Net Income1,291,000,000USD747,000,000USD803,000,000USD537,000,000USD820,000,000USD303,000,000USD531,000,000USD690,000,000USD
    Minority Interest25,000,000USD-5,000,000USD——————
    Net Income Applicable To Common Shares1,266,000,000USD———————
    Cost Of Revenue—3,442,000,000USD2,905,000,000USD2,853,000,000USD2,860,000,000USD2,437,000,000USD2,135,000,000USD2,224,000,000USD
    Gross Profit—2,255,000,000USD2,232,000,000USD1,730,000,000USD2,157,000,000USD1,531,000,000USD1,599,000,000USD1,776,000,000USD
    Unclassified Operating Expenses—1,147,000,000USD1,246,000,000USD990,000,000USD929,000,000USD-1,373,000,000USD-1,227,000,000USD-1,356,000,000USD
    Net Interest Income—-142,000,000USD——————
    Tax Provision—283,000,000USD——————
    Net Income From Continuing Ops—752,000,000USD——————
    Ebit—1,189,000,000USD1,070,000,000USD823,000,000USD1,319,000,000USD547,000,000USD787,000,000USD977,000,000USD
    Ebitda—1,369,000,000USD1,248,000,000USD1,002,000,000USD1,512,000,000USD717,000,000USD909,000,000USD1,102,000,000USD
    Depreciation And Amortization—180,000,000USD178,000,000USD179,000,000USD193,000,000USD170,000,000USD122,000,000USD125,000,000USD
    Reconciled Depreciation—180,000,000USD——————
    Selling General Administrative—————2,437,000,000USD2,135,000,000USD2,224,000,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Total Revenue15,001,000,000USD
    Other Operating Expenses3,077,000,000USD
    Total Operating Expenses11,348,000,000USD
    Operating Income3,653,000,000USD
    Total Other Income Expense Net-370,000,000USD
    Interest Income19,000,000USD
    Interest Expense490,000,000USD
    Labor And Related Expense8,271,000,000USD
    Income Before Tax3,283,000,000USD
    Income Tax Expense806,000,000USD
    Net Income2,477,000,000USD
    Minority Interest65,000,000USD
    Net Income Applicable To Common Shares2,412,000,000USD
    SourceDisclosureDeterministicFinal

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20212021-12-31 · USDFY 20142014-12-31 · USDFY 19991999-12-31 · USDFY 19981998-12-31 · USDFY 19971997-12-31 · USDFY 19961996-12-31 · USDFY 19951995-12-31 · USDFY 19931993-12-31 · USD
    Total Revenue19,820,000,000USD12,951,000,000USD9,157,000,000USD7,190,000,000USD6,009,000,000USD4,404,000,000USD3,937,300,000USD3,163,400,000USD
    Cost Of Revenue11,425,000,000USD7,515,000,000USD7,259,000,000USD5,498,000,000USD5,012,000,000USD3,549,000,000USD3,107,300,000USD2,450,700,000USD
    Gross Profit8,395,000,000USD5,436,000,000USD1,898,000,000USD1,692,000,000USD997,000,000USD855,000,000USD830,000,000USD712,700,000USD
    Unclassified Operating Expenses4,083,000,000USD-4,380,000,000USD431,000,000USD272,000,000USD199,000,000USD140,000,000USD135,100,000USD119,900,000USD
    Total Operating Expenses4,083,000,000USD3,135,000,000USD431,000,000USD272,000,000USD199,000,000USD140,000,000USD135,100,000USD119,900,000USD
    Operating Income4,312,000,000USD2,301,000,000USD1,467,000,000USD1,420,000,000USD798,000,000USD715,000,000USD694,900,000USD592,800,000USD
    Interest Income2,000,000USD———————
    Interest Expense444,000,000USD165,000,000USD——————
    Net Interest Income-442,000,000USD———————
    Income Before Tax4,208,000,000USD2,057,000,000USD1,250,000,000USD1,305,000,000USD715,000,000USD668,000,000USD649,800,000USD558,600,000USD
    Income Tax Expense1,034,000,000USD586,000,000USD524,000,000USD509,000,000USD281,000,000USD209,000,000USD246,900,000USD226,200,000USD
    Tax Provision1,034,000,000USD———————
    Net Income3,143,000,000USD1,465,000,000USD726,000,000USD796,000,000USD434,000,000USD459,000,000USD402,900,000USD332,400,000USD
    Net Income From Continuing Ops3,174,000,000USD———————
    Ebit4,652,000,000USD2,222,000,000USD1,467,000,000USD1,420,000,000USD798,000,000USD715,000,000USD694,900,000USD592,800,000USD
    Ebitda5,399,000,000USD2,610,000,000USD1,898,000,000USD1,692,000,000USD997,000,000USD855,000,000USD830,000,000USD712,700,000USD
    Depreciation And Amortization747,000,000USD388,000,000USD431,000,000USD272,000,000USD199,000,000USD140,000,000USD135,100,000USD119,900,000USD
    Reconciled Depreciation747,000,000USD———————
    Total Other Income Expense Net-104,000,000USD-244,000,000USD-217,000,000USD-115,000,000USD-83,000,000USD-47,000,000USD-45,100,000USD-34,200,000USD
    Minority Interest-31,000,000USD———————
    Selling General Administrative—7,515,000,000USD——————
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets59,682,000,000USD58,552,000,000USD58,710,000,000USD58,783,000,000USD58,555,000,000USD57,015,000,000USD56,481,000,000USD49,864,000,000USD
    Cash And Equivalents1,700,000,000USD———————
    Total Current Assets24,333,000,000USD23,236,000,000USD23,200,000,000USD23,699,000,000USD23,334,000,000USD22,461,000,000USD22,117,000,000USD22,286,000,000USD
    Other Current Assets1,487,000,000USD13,198,000,000USD12,843,000,000USD13,282,000,000USD13,200,000,000USD12,985,000,000USD12,563,000,000USD13,066,000,000USD
    Other Non Current Assets1,834,000,000USD———————
    Total Liabilities44,249,000,000USD———————
    Total Current Liabilities21,359,000,000USD2,028,000,000USD21,060,000,000USD21,098,000,000USD19,400,000,000USD19,775,000,000USD19,518,000,000USD19,604,000,000USD
    Other Non Current Liabilities1,486,000,000USD———————
    Total Stockholder Equity15,183,000,000USD14,569,000,000USD15,100,000,000USD15,153,000,000USD15,767,000,000USD14,065,000,000USD13,342,000,000USD13,688,000,000USD
    Total Equity Including Noncontrolling Interest15,433,000,000USD———————
    Short Long Term Debt646,000,000USD1,702,000,000USD1,267,000,000USD1,263,000,000USD769,000,000USD1,667,000,000USD519,000,000USD518,000,000USD
    Long Term Debt18,891,000,000USD18,900,000,000USD18,320,000,000USD18,317,000,000USD18,960,000,000USD18,862,000,000USD19,428,000,000USD12,330,000,000USD
    Net Receivables8,943,000,000USD8,427,000,000USD7,670,000,000USD7,906,000,000USD8,457,000,000USD7,872,000,000USD7,156,000,000USD7,422,000,000USD
    Property Plant Equipment Net2,234,000,000USD2,274,000,000USD2,289,000,000USD2,256,000,000USD2,310,000,000USD2,317,000,000USD2,357,000,000USD2,371,000,000USD
    Goodwill24,352,000,000USD———————
    Intangible Assets4,505,000,000USD4,607,000,000USD4,746,000,000USD4,671,000,000USD4,770,000,000USD4,736,000,000USD4,820,000,000USD2,720,000,000USD
    Short Term Debt1,670,000,000USD2,028,000,000USD1,600,000,000USD1,595,000,000USD1,104,000,000USD1,994,000,000USD844,000,000USD831,000,000USD
    Common Stock561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD
    Retained Earnings29,301,000,000USD28,037,000,000USD27,767,000,000USD26,948,000,000USD27,088,000,000USD25,881,000,000USD25,306,000,000USD24,520,000,000USD
    Accumulated Other Comprehensive Income-5,575,000,000USD-5,560,000,000USD-5,429,000,000USD-5,441,000,000USD-5,244,000,000USD-5,896,000,000USD-6,240,000,000USD-4,990,000,000USD
    Total Liab—43,746,000,000USD43,395,000,000USD43,424,000,000USD42,579,000,000USD42,747,000,000USD42,946,000,000USD35,982,000,000USD
    Other Current Liab—-4,752,000,000USD15,435,000,000USD15,531,000,000USD14,243,000,000USD13,777,000,000USD14,896,000,000USD15,109,000,000USD
    Capital Stock—561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD
    Good Will—24,273,000,000USD24,337,000,000USD23,949,000,000USD23,919,000,000USD23,538,000,000USD23,306,000,000USD18,235,000,000USD
    Cash—1,611,000,000USD2,687,000,000USD2,511,000,000USD1,677,000,000USD1,604,000,000USD2,398,000,000USD1,798,000,000USD
    Cash And Short Term Investments—1,611,000,000USD2,687,000,000USD2,511,000,000USD1,677,000,000USD1,604,000,000USD2,398,000,000USD1,798,000,000USD
    Net Debt—20,840,000,000USD18,762,000,000USD18,915,000,000USD19,933,000,000USD20,815,000,000USD19,464,000,000USD12,981,000,000USD
    Short Long Term Debt Total—22,451,000,000USD21,449,000,000USD21,426,000,000USD21,610,000,000USD22,419,000,000USD21,862,000,000USD14,779,000,000USD
    Accounts Payable—4,180,000,000USD3,652,000,000USD3,355,000,000USD3,434,000,000USD3,450,000,000USD3,402,000,000USD3,099,000,000USD
    Property Plant Equipment Gross—3,969,000,000USD3,958,000,000USD3,925,000,000USD3,956,000,000USD3,907,000,000USD3,895,000,000USD4,009,000,000USD
    Common Stock Shares Outstanding—486,000,000shares490,000,000shares494,000,000shares495,000,000shares495,000,000shares496,000,000shares496,000,000shares
    Non Current Assets Total—35,316,000,000USD35,510,000,000USD35,084,000,000USD35,221,000,000USD34,554,000,000USD34,364,000,000USD27,578,000,000USD
    Non Current Liabilities Total—41,718,000,000USD22,335,000,000USD22,326,000,000USD23,179,000,000USD22,972,000,000USD23,428,000,000USD16,378,000,000USD
    Non Current Liabilities Other—1,666,000,000USD1,700,000,000USD1,704,000,000USD1,857,000,000USD1,715,000,000USD1,570,000,000USD1,726,000,000USD
    Non Currrent Assets Other—3,435,000,000USD3,926,000,000USD3,960,000,000USD3,729,000,000USD3,242,000,000USD3,103,000,000USD3,538,000,000USD
    Net Working Capital—2,331,000,000USD2,140,000,000USD2,601,000,000USD3,934,000,000USD2,686,000,000USD2,599,000,000USD2,682,000,000USD
    Unclassified Non Current Assets—727,000,000USD——493,000,000USD721,000,000USD778,000,000USD714,000,000USD
    Unclassified Current Liabilities—-5,882,000,000USD-894,000,000USD-646,000,000USD—-1,113,000,000USD——
    Unclassified Non Current Liabilities—21,152,000,000USD2,315,000,000USD2,305,000,000USD2,362,000,000USD2,395,000,000USD2,430,000,000USD2,322,000,000USD
    Unclassified Equity—-9,030,000,000USD-8,360,000,000USD-7,476,000,000USD-7,199,000,000USD-7,042,000,000USD-6,846,000,000USD-6,964,000,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
    Total Assets58,710,000,000USD56,481,000,000USD48,030,000,000USD44,114,000,000USD34,388,000,000USD33,030,000,000USD31,317,000,000USD21,578,000,000USD
    Intangible Assets4,746,000,000USD4,820,000,000USD2,630,000,000USD3,029,000,000USD2,810,000,000USD2,699,000,000USD2,774,000,000USD1,437,000,000USD
    Other Current Assets12,843,000,000USD12,563,000,000USD11,972,000,000USD11,665,000,000USD926,000,000USD701,000,000USD677,000,000USD551,000,000USD
    Total Liab43,395,000,000USD42,946,000,000USD35,660,000,000USD33,365,000,000USD23,166,000,000USD23,789,000,000USD23,414,000,000USD13,994,000,000USD
    Total Stockholder Equity15,100,000,000USD13,342,000,000USD12,191,000,000USD10,520,000,000USD11,009,000,000USD9,104,000,000USD7,793,000,000USD7,511,000,000USD
    Other Current Liab15,808,000,000USD14,896,000,000USD14,140,000,000USD13,755,000,000USD2,942,000,000USD2,439,000,000USD2,197,000,000USD2,219,000,000USD
    Common Stock561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD
    Capital Stock561,000,000USD561,000,000USD561,000,000USD561,000,000USD561,000,000USD———
    Retained Earnings27,767,000,000USD25,306,000,000USD22,759,000,000USD20,301,000,000USD18,389,000,000USD16,272,000,000USD15,199,000,000USD14,347,000,000USD
    Good Will24,337,000,000USD23,306,000,000USD17,231,000,000USD16,251,000,000USD16,317,000,000USD15,517,000,000USD14,671,000,000USD9,599,000,000USD
    Other Assets847,000,000USD———————
    Cash2,687,000,000USD2,398,000,000USD3,358,000,000USD1,442,000,000USD1,752,000,000USD2,089,000,000USD1,155,000,000USD1,066,000,000USD
    Cash And Short Term Investments2,687,000,000USD2,398,000,000USD3,358,000,000USD1,442,000,000USD1,752,000,000USD2,089,000,000USD1,155,000,000USD1,066,000,000USD
    Total Current Assets23,200,000,000USD22,117,000,000USD21,748,000,000USD18,959,000,000USD8,264,000,000USD8,116,000,000USD7,068,000,000USD5,934,000,000USD
    Total Current Liabilities21,060,000,000USD19,518,000,000USD19,795,000,000USD17,832,000,000USD6,654,000,000USD6,556,000,000USD6,679,000,000USD4,924,000,000USD
    Net Debt18,762,000,000USD19,464,000,000USD12,078,000,000USD12,030,000,000USD11,410,000,000USD11,490,000,000USD13,069,000,000USD4,758,000,000USD
    Short Term Debt1,600,000,000USD844,000,000USD1,931,000,000USD578,000,000USD349,000,000USD859,000,000USD1,557,000,000USD314,000,000USD
    Short Long Term Debt1,267,000,000USD519,000,000USD1,619,000,000USD268,000,000USD17,000,000USD———
    Short Long Term Debt Total21,449,000,000USD21,862,000,000USD15,436,000,000USD13,472,000,000USD13,162,000,000USD13,579,000,000USD14,224,000,000USD5,824,000,000USD
    Long Term Debt18,320,000,000USD19,428,000,000USD11,844,000,000USD11,227,000,000USD10,933,000,000USD———
    Net Receivables7,670,000,000USD7,156,000,000USD6,418,000,000USD5,852,000,000USD5,586,000,000USD5,326,000,000USD5,236,000,000USD4,317,000,000USD
    Accounts Payable3,652,000,000USD3,402,000,000USD3,403,000,000USD3,278,000,000USD3,165,000,000USD3,050,000,000USD2,746,000,000USD2,234,000,000USD
    Property Plant Equipment Net2,289,000,000USD2,357,000,000USD2,423,000,000USD2,433,000,000USD2,715,000,000USD2,750,000,000USD2,779,000,000USD701,000,000USD
    Property Plant Equipment Gross3,958,000,000USD3,895,000,000USD3,985,000,000USD3,964,000,000USD4,304,000,000USD———
    Accumulated Other Comprehensive Income-5,429,000,000USD-6,240,000,000USD-5,295,000,000USD-5,314,000,000USD-4,575,000,000USD-5,110,000,000USD-5,055,000,000USD-4,647,000,000USD
    Common Stock Shares Outstanding490,000,000shares496,000,000shares499,000,000shares505,000,000shares513,000,000shares512,000,000shares511,000,000shares511,000,000shares
    Non Current Assets Total35,510,000,000USD34,364,000,000USD26,282,000,000USD25,155,000,000USD26,124,000,000USD24,914,000,000USD24,249,000,000USD15,644,000,000USD
    Non Current Liabilities Total22,335,000,000USD23,428,000,000USD15,865,000,000USD15,533,000,000USD16,512,000,000USD17,233,000,000USD16,735,000,000USD9,070,000,000USD
    Non Current Liabilities Other1,700,000,000USD1,570,000,000USD1,581,000,000USD1,718,000,000USD2,067,000,000USD———
    Non Currrent Assets Other3,926,000,000USD3,103,000,000USD3,192,000,000USD3,046,000,000USD1,461,000,000USD1,458,000,000USD1,757,000,000USD2,566,000,000USD
    Net Working Capital2,140,000,000USD2,599,000,000USD1,953,000,000USD1,127,000,000USD1,610,000,000USD———
    Unclassified Non Current Assets-635,000,000USD778,000,000USD806,000,000USD396,000,000USD2,821,000,000USD2,490,000,000USD2,268,000,000USD1,341,000,000USD
    Unclassified Current Liabilities-1,267,000,000USD—-1,298,000,000USD—181,000,000USD208,000,000USD179,000,000USD157,000,000USD
    Unclassified Non Current Liabilities2,315,000,000USD2,430,000,000USD2,440,000,000USD2,588,000,000USD3,512,000,000USD17,233,000,000USD16,735,000,000USD9,070,000,000USD
    Unclassified Equity-8,360,000,000USD-6,846,000,000USD-6,395,000,000USD-5,589,000,000USD-3,927,000,000USD-2,619,000,000USD-2,912,000,000USD-2,750,000,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Net Income2,477,000,000USD
    Depreciation454,000,000USD
    Stock Based Compensation235,000,000USD
    Other Non Cash Items110,000,000USD
    Change In Working Capital-2,441,000,000USD
    Operating Cash Flow835,000,000USD
    Capital Expenditures-134,000,000USD
    Net Investments-8,000,000USD
    Other Investing Activities-6,000,000USD
    Unclassified Investing Cash Flow-117,000,000USD
    Investing Cash Flow-265,000,000USD
    Net Debt Issuance1,009,000,000USD
    Net Common Stock Issuance-1,544,000,000USD
    Common Dividends Paid-878,000,000USD
    Other Financing Activities727,000,000USD
    Financing Cash Flow-686,000,000USD
    Effect Of Forex Changes On Cash-141,000,000USD
    Change In Cash-257,000,000USD
    End Cash Flow13,903,000,000USD
    SourceDisclosureDeterministicFinal

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Net Income1,186,000,000USD169,000,000USD757,000,000USD1,896,000,000USD1,412,000,000USD801,000,000USD747,000,000USD1,125,000,000USD
    Depreciation227,000,000USD181,000,000USD224,000,000USD278,000,000USD227,000,000USD201,000,000USD180,000,000USD176,000,000USD
    Stock Based Compensation139,000,000USD67,000,000USD95,000,000USD120,000,000USD112,000,000USD85,000,000USD90,000,000USD90,000,000USD
    Other Non Cash Items-1,613,000,000USD308,000,000USD64,000,000USD-652,000,000USD34,000,000USD27,000,000USD89,000,000USD11,000,000USD
    Change To Account Receivables-784,000,000USD388,000,000USD533,000,000USD-322,000,000USD-599,000,000USD354,000,000USD466,000,000USD-545,000,000USD
    Change In Working Capital-784,000,000USD1,436,000,000USD942,000,000USD29,000,000USD-2,407,000,000USD842,000,000USD806,000,000USD-187,000,000USD
    Total Cash From Operating Activities-688,000,000USD2,161,000,000USD2,082,000,000USD1,671,000,000USD-622,000,000USD1,956,000,000USD1,912,000,000USD1,215,000,000USD
    Capital Expenditures-62,000,000USD-105,000,000USD-72,000,000USD-59,000,000USD-55,000,000USD-76,000,000USD-73,000,000USD-80,000,000USD
    Free Cash Flow-750,000,000USD2,056,000,000USD2,010,000,000USD1,612,000,000USD-677,000,000USD1,880,000,000USD1,839,000,000USD1,135,000,000USD
    Investments-7,000,000USD-5,000,000USD10,000,000USD-5,000,000USD74,000,000USD-52,000,000USD-1,000,000USD—
    Total Cashflows From Investing Activities-104,000,000USD-523,000,000USD-227,000,000USD-121,000,000USD26,000,000USD-7,645,000,000USD-393,000,000USD-415,000,000USD
    Net Borrowings1,039,000,000USD-5,000,000USD-154,000,000USD-903,000,000USD543,000,000USD7,178,000,000USD-753,000,000USD—
    Total Cash From Financing Activities114,000,000USD-2,048,000,000USD-753,000,000USD-1,695,000,000USD-138,000,000USD6,275,000,000USD-1,436,000,000USD-519,000,000USD
    Dividends Paid-440,000,000USD-444,000,000USD-445,000,000USD-406,000,000USD-405,000,000USD-403,000,000USD-404,000,000USD-352,000,000USD
    Sale Purchase Of Stock-755,000,000USD-862,000,000USD-408,000,000USD-300,000,000USD-300,000,000USD177,000,000USD-304,000,000USD-473,000,000USD
    Issuance Of Capital Stock63,000,000USD38,000,000USD37,000,000USD47,000,000USD128,000,000USD43,000,000USD54,000,000USD—
    Change In Cash-805,000,000USD-352,000,000USD964,000,000USD73,000,000USD-491,000,000USD-47,000,000USD571,000,000USD240,000,000USD
    Begin Period Cash Flow14,160,000,000USD14,512,000,000USD13,548,000,000USD1,604,000,000USD13,674,000,000USD13,721,000,000USD13,150,000,000USD12,910,000,000USD
    End Period Cash Flow13,355,000,000USD14,160,000,000USD14,512,000,000USD1,677,000,000USD13,183,000,000USD13,674,000,000USD13,721,000,000USD13,150,000,000USD
    Other Cashflows From Investing Activities12,000,000USD1,109,000,000USD-704,000,000USD-406,000,000USD25,000,000USD—-1,000,000USD1,000,000USD
    Other Cashflows From Financing Activities925,000,000USD-775,000,000USD217,000,000USD-133,000,000USD-104,000,000USD-720,000,000USD-29,000,000USD159,000,000USD
    Unclassified Operating Cash Flow157,000,000USD———————
    Unclassified Investing Cash Flow-47,000,000USD-1,522,000,000USD539,000,000USD349,000,000USD-18,000,000USD-7,517,000,000USD-318,000,000USD-336,000,000USD
    Unclassified Financing Cash Flow-655,000,000USD38,000,000USD37,000,000USD47,000,000USD128,000,000USD—54,000,000USD147,000,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
    Net Income4,234,000,000USD4,060,000,000USD3,802,000,000USD3,087,000,000USD3,174,000,000USD2,046,000,000USD1,773,000,000USD1,670,000,000USD
    Depreciation910,000,000USD746,000,000USD713,000,000USD719,000,000USD747,000,000USD741,000,000USD647,000,000USD494,000,000USD
    Stock Based Compensation394,000,000USD368,000,000USD363,000,000USD367,000,000USD348,000,000USD290,000,000USD252,000,000USD193,000,000USD
    Other Non Cash Items272,000,000USD203,000,000USD288,000,000USD304,000,000USD-45,000,000USD402,000,000USD301,000,000USD412,000,000USD
    Change To Account Receivables-128,000,000USD-467,000,000USD-467,000,000USD-492,000,000USD-252,000,000USD-75,000,000USD-130,000,000USD-78,000,000USD
    Change In Working Capital-518,000,000USD-1,075,000,000USD-908,000,000USD-1,012,000,000USD-645,000,000USD-137,000,000USD-696,000,000USD-302,000,000USD
    Total Cash From Operating Activities5,292,000,000USD4,302,000,000USD4,258,000,000USD3,465,000,000USD3,516,000,000USD3,382,000,000USD2,361,000,000USD2,428,000,000USD
    Capital Expenditures-291,000,000USD-316,000,000USD-416,000,000USD-470,000,000USD-406,000,000USD-348,000,000USD-421,000,000USD-314,000,000USD
    Free Cash Flow5,001,000,000USD3,986,000,000USD3,842,000,000USD2,995,000,000USD3,110,000,000USD3,034,000,000USD1,940,000,000USD2,114,000,000USD
    Investments74,000,000USD-53,000,000USD-19,000,000USD64,000,000USD13,000,000USD———
    Total Cashflows From Investing Activities-845,000,000USD-8,821,000,000USD-1,417,000,000USD-850,000,000USD-1,164,000,000USD-793,000,000USD-4,395,000,000USD-1,089,000,000USD
    Net Borrowings-519,000,000USD6,553,000,000USD1,903,000,000USD619,000,000USD-273,000,000USD———
    Total Cash From Financing Activities-4,634,000,000USD4,455,000,000USD-1,119,000,000USD-1,046,000,000USD-1,297,000,000USD-925,000,000USD4,331,000,000USD-1,310,000,000USD
    Dividends Paid-1,699,000,000USD-1,513,000,000USD-1,298,000,000USD-1,138,000,000USD-1,026,000,000USD-943,000,000USD-880,000,000USD-807,000,000USD
    Sale Purchase Of Stock-2,012,000,000USD-900,000,000USD-1,150,000,000USD-1,950,000,000USD-1,159,000,000USD—-574,000,000USD-742,000,000USD
    Issuance Of Capital Stock250,000,000USD264,000,000USD199,000,000USD126,000,000USD161,000,000USD———
    Change In Cash486,000,000USD-478,000,000USD2,050,000,000USD728,000,000USD700,000,000USD2,175,000,000USD2,432,000,000USD-139,000,000USD
    Begin Period Cash Flow13,674,000,000USD14,152,000,000USD12,102,000,000USD11,374,000,000USD10,674,000,000USD8,499,000,000USD6,067,000,000USD1,205,000,000USD
    End Period Cash Flow14,160,000,000USD13,674,000,000USD14,152,000,000USD12,102,000,000USD11,374,000,000USD10,674,000,000USD8,499,000,000USD1,066,000,000USD
    Other Cashflows From Investing Activities22,000,000USD1,000,000USD11,000,000USD9,000,000USD-406,000,000USD-327,000,000USD255,000,000USD-5,000,000USD
    Other Cashflows From Financing Activities-654,000,000USD51,000,000USD-773,000,000USD1,297,000,000USD1,000,000,000USD664,000,000USD675,000,000USD-147,000,000USD
    Unclassified Investing Cash Flow-650,000,000USD-8,453,000,000USD-993,000,000USD-453,000,000USD-365,000,000USD-118,000,000USD-4,229,000,000USD-770,000,000USD
    Unclassified Financing Cash Flow250,000,000USD264,000,000USD199,000,000USD126,000,000USD161,000,000USD-646,000,000USD5,110,000,000USD386,000,000USD
    Change To Inventory————252,000,000USD75,000,000USD130,000,000USD—
    Unclassified Operating Cash Flow————-63,000,000USD40,000,000USD84,000,000USD-39,000,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    Net Uncollected Premiums and Claims

    Period endPeriodValueUnitSource
    2026-06-30instant18USD billionsDisclosure

    Revenue breakdown

    PeriodDimensionBusiness / regionRevenueCurrencySource
    Q1 2026Quarterly · 2026-03-31SegmentConsulting2,570,000,000USD0000062709-26-000098
    Q1 2026Quarterly · 2026-03-31SegmentRisk And Insurance Services5,051,000,000USD0000062709-26-000098
    FY 2025Yearly · 2025-12-31GeographyOther Geographic Areas9,899,000,000USD0000062709-26-000022
    FY 2025Yearly · 2025-12-31GeographyUnited Kingdom3,816,000,000USD0000062709-26-000022
    FY 2025Yearly · 2025-12-31GeographyUnited States13,344,000,000USD0000062709-26-000022
    FY 2025Yearly · 2025-12-31SegmentConsulting9,867,000,000USD0000062709-26-000022
    FY 2025Yearly · 2025-12-31SegmentRiskand Insurance Services17,265,000,000USD0000062709-26-000022
    Q3 2025Quarterly · 2025-09-30SegmentConsulting2,485,000,000USD0000062709-25-000125
    Q3 2025Quarterly · 2025-09-30SegmentRisk And Insurance Services3,907,000,000USD0000062709-25-000125
    Q2 2025Quarterly · 2025-06-30SegmentConsulting2,389,000,000USD0000062709-25-000069
    Q2 2025Quarterly · 2025-06-30SegmentRisk And Insurance Services4,629,000,000USD0000062709-25-000069
    Q1 2025Quarterly · 2025-03-31SegmentConsulting2,329,000,000USD0000062709-26-000098
    Q1 2025Quarterly · 2025-03-31SegmentRisk And Insurance Services4,762,000,000USD0000062709-26-000098
    Q4 2024Quarterly · 2024-12-31SegmentConsulting2,457,000,000USDLegacy provider
    Q4 2024Quarterly · 2024-12-31SegmentRiskand Insurance Services3,643,000,000USDLegacy provider
    FY 2024Yearly · 2024-12-31GeographyOther Geographic Areas9,262,000,000USD0000062709-26-000022
    FY 2024Yearly · 2024-12-31GeographyUnited Kingdom3,595,000,000USD0000062709-26-000022
    FY 2024Yearly · 2024-12-31GeographyUnited States11,671,000,000USD0000062709-26-000022
    FY 2024Yearly · 2024-12-31SegmentConsulting9,193,000,000USD0000062709-26-000022
    FY 2024Yearly · 2024-12-31SegmentRiskand Insurance Services15,395,000,000USD0000062709-26-000022
    Q3 2024Quarterly · 2024-09-30SegmentConsulting2,280,000,000USD0000062709-25-000125
    Q3 2024Quarterly · 2024-09-30SegmentRisk And Insurance Services3,453,000,000USD0000062709-25-000125
    Q2 2024Quarterly · 2024-06-30SegmentConsulting2,229,000,000USD0000062709-25-000069
    Q2 2024Quarterly · 2024-06-30SegmentRisk And Insurance Services4,026,000,000USD0000062709-25-000069
    Q1 2024Quarterly · 2024-03-31SegmentConsulting2,227,000,000USD0000062709-25-000028
    Q1 2024Quarterly · 2024-03-31SegmentRiskand Insurance Services4,273,000,000USD0000062709-25-000028
    FY 2023Yearly · 2023-12-31GeographyOther Geographic Areas8,319,000,000USD0000062709-26-000022
    FY 2023Yearly · 2023-12-31GeographyUnited Kingdom3,555,000,000USD0000062709-26-000022
    FY 2023Yearly · 2023-12-31GeographyUnited States10,924,000,000USD0000062709-26-000022
    FY 2023Yearly · 2023-12-31SegmentConsulting8,765,000,000USD0000062709-26-000022
    FY 2023Yearly · 2023-12-31SegmentRiskand Insurance Services14,089,000,000USD0000062709-26-000022
    FY 2022Yearly · 2022-12-31GeographyAsia Pacific2,537,000,000USD0000062709-23-000014
    FY 2022Yearly · 2022-12-31GeographyEurope3,223,000,000USD0000062709-23-000014
    FY 2022Yearly · 2022-12-31GeographyOther Geographic Areas1,695,000,000USD0000062709-23-000014
    FY 2022Yearly · 2022-12-31GeographyUnited Kingdom3,114,000,000USD0000062709-23-000014
    FY 2022Yearly · 2022-12-31GeographyUnited States10,215,000,000USD0000062709-23-000014
    FY 2022Yearly · 2022-12-31SegmentConsulting8,198,000,000USD0000062709-25-000015
    FY 2022Yearly · 2022-12-31SegmentRiskand Insurance Services12,645,000,000USD0000062709-25-000015
    FY 2021Yearly · 2021-12-31GeographyAsia Pacific2,617,000,000USD0000062709-23-000014
    FY 2021Yearly · 2021-12-31GeographyEurope3,219,000,000USD0000062709-23-000014
    FY 2021Yearly · 2021-12-31GeographyOther Geographic Areas1,565,000,000USD0000062709-23-000014
    FY 2021Yearly · 2021-12-31GeographyUnited Kingdom3,130,000,000USD0000062709-23-000014
    FY 2021Yearly · 2021-12-31GeographyUnited States9,343,000,000USD0000062709-23-000014
    FY 2021Yearly · 2021-12-31SegmentConsulting7,838,000,000USD0000062709-24-000016
    FY 2021Yearly · 2021-12-31SegmentRiskand Insurance Services12,090,000,000USD0000062709-24-000016
    FY 2020Yearly · 2020-12-31GeographyAsia Pacific2,093,000,000USD0000062709-23-000014
    FY 2020Yearly · 2020-12-31GeographyEurope2,881,000,000USD0000062709-23-000014
    FY 2020Yearly · 2020-12-31GeographyOther Geographic Areas1,353,000,000USD0000062709-23-000014
    FY 2020Yearly · 2020-12-31GeographyUnited Kingdom2,818,000,000USD0000062709-23-000014
    FY 2020Yearly · 2020-12-31GeographyUnited States8,168,000,000USD0000062709-23-000014
    FY 2020Yearly · 2020-12-31SegmentConsulting6,976,000,000USD0000062709-23-000014
    FY 2020Yearly · 2020-12-31SegmentRiskand Insurance Services10,337,000,000USD0000062709-23-000014
    FY 2019Yearly · 2019-12-31GeographyAsia Pacific2,001,000,000USD0000062709-22-000009
    FY 2019Yearly · 2019-12-31GeographyEurope2,837,000,000USD0000062709-22-000009
    FY 2019Yearly · 2019-12-31GeographyOther Geographic Areas1,385,000,000USD0000062709-22-000009
    FY 2019Yearly · 2019-12-31GeographyUnited Kingdom2,679,000,000USD0000062709-22-000009
    FY 2019Yearly · 2019-12-31GeographyUnited States7,840,000,000USD0000062709-22-000009
    FY 2019Yearly · 2019-12-31SegmentConsulting7,143,000,000USD0000062709-22-000009
    FY 2019Yearly · 2019-12-31SegmentRiskand Insurance Services9,599,000,000USD0000062709-22-000009
    FY 2018Yearly · 2018-12-31GeographyAsia Pacific1,616,000,000USD0000062709-21-000008
    FY 2018Yearly · 2018-12-31GeographyEurope2,694,000,000USD0000062709-21-000008
    FY 2018Yearly · 2018-12-31GeographyOther Geographic Areas1,235,000,000USD0000062709-21-000008
    FY 2018Yearly · 2018-12-31GeographyUnited Kingdom2,243,000,000USD0000062709-21-000008
    FY 2018Yearly · 2018-12-31GeographyUnited States7,219,000,000USD0000062709-21-000008
    FY 2018Yearly · 2018-12-31SegmentConsulting6,779,000,000USD0000062709-21-000008
    FY 2018Yearly · 2018-12-31SegmentRiskand Insurance Services8,228,000,000USD0000062709-21-000008

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.