Marsh & McLennan Cos., Inc.

Marsh & McLennan Cos., Inc.

MMC - Insider Information

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Market Cap$86.97B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Marsh & McLennan Cos., Inc.Marsh & McLennan Cos., Inc.23.91.88%28%31.5

Earnings Call Q3 2026

October 15, 2026 - AI Summary

Solid Q3 performance + strong profitability + capital returns - Revenue: $6.9B (+8% YoY); underlying +5%. - Profit/EPS: Adjusted operating income +6% to $1.5B; Adjusted EPS +10% YoY to $2.03; GAAP EPS $1.69. - Q3 cash return: $500M share repurchase (and $2.0B total year-to-date). - 9M results: Underlying revenue +5%, Adjusted operating income +7% to $6.1B, Adjusted EPS +9% to $8.29.
Segment momentum: Consulting strong, Risk solid, Reinsurance still weak - RIS (Risk & Insurance Services): Revenue $4.2B (+7%) / underlying +3%; Adjusted operating income $1.0B (+4%), adjusted margin 24.6%. - At Risk: Revenue $3.7B (+10%) / underlying +5%; US/Canada underlying +4%, international +6% (EMEA +7%, APAC +4%, Latin America ~0%). - Reinsurance: Revenue $374M (-6%) (Q3 small quarter); softness driven by property reinsurance pricing pressure and tough comps. Through 9 months: -1% underlying (retention strong; rates drag). - Consulting: Revenue $2.7B (+9%) / underlying +8%; Adjusted operating income +9%; Adjusted margin 22.1%. - Management Consulting was +14% reported/underlying; cited as benefiting from AI-related work and timing of success fees (not fully representative of organic run-rate).
Full-year outlook: growth steady, margins expanding, EPS solid; conditions may persist - Company expects underlying revenue growth in 2026 similar to 2025 levels, another year of margin expansion, and solid adjusted EPS growth. - Market backdrop: business rate environment remains soft (company noted index down ~5% in Q3, after -6% in Q2). - Reinsurance pricing headwind expected to persist through the January 1 renewal cycle; they expect this environment to continue. - FX expected immaterial to Q4 earnings; interest expense guided around ~$255M in Q4; adjusted tax rate ~25% for 2026.

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$209.96

Current Fair Value

14.9% upside

Undervalued by 14.9% based on the discounted cash flow analysis.

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Share Statistics

Market cap$86.97 Billion
Enterprise Value$95.07 Billion
Annual dividend$3.43
Dividend yield1.88%
Earnings per Share$8.48
Beta0.75
Outstanding Shares476,000,000

Return

Return on Equity27.61%ROE
Return on Assets6.88%
Return on Invested Capital8.70%

Valuation & Multiples

P/E Ratio23.91P/E Ratio
PEG226.3PEG
Price to Sales3.05Price to Sales
Price to Book Ratio5.89Price to Book Ratio
Enterprise Value to Revenue3.32
Enterprise Value to EBIT19.16
Enterprise Value to Net Income23
Total Debt to Enterprise0.23
Debt to Equity1.5Debt to Equity

Revenue Sources

No data

Last Earnings Call

Report Date
January 29, 2026
EPS Estimate
$1.97
Consensus analyst estimate
Revenue Estimate
$6.55 B
Consensus analyst estimate

Institutional Put/Call Ratio

Compares institutional put options with call options. At 0.59, the ratio is below 1, so institutions hold more calls than puts.

Put/Call Ratio0.5922▼ 27.35%
Total Calls660,800▲ 12.86%
Total Puts391,300▼ 22.79%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %89.48%▲ 1.34%
Total Invested$80.86B▼ 7.25%
Investors Holding1,632▲ 16.00%

About Marsh & McLennan Cos., Inc.

95,000 employees
CEO: Daniel Glaser

Marsh & McLennan Companies, Inc. (MRSH) functions as a leading professional services organization, delivering expert guidance and innovative solutions to clients across the vital domains of risk management, strategic planning, and human ...

Marsh & McLennan Cos. Insider Information FAQ

Stockcircle tracks 10 top investors with a current 13F position in Marsh & McLennan Cos.. Notable holders include Bridgewater Associates. Holdings come from the latest quarterly 13F filings filed with the SEC.

In the latest 13F quarter on Stockcircle, 5 top investors increased or opened positions and 9 top investors reduced or sold among tracked top investors. Changes are based on reported share counts in their quarterly filings, not day-to-day trading.

Form 4 insider trades are added as new filings are imported. Top investor 13F holdings refresh after each quarterly filing cycle. Politician trade disclosures are added when new reports are published on Stockcircle.