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Marsh & McLennan Companies MMC

Annual report 2025
added 02-09-2026

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Marsh & McLennan Companies Income Statement 2011-2026 | MMC

Annual Income Statement Marsh & McLennan Companies

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Market Cap

- 112 B 96.8 B 86.8 B 77.6 B 54.6 B 58 B 42.4 B 43 B 35.5 B 28.3 B 29.3 B 25.4 B 19 B 17.1 B

Shares

491 M 492 M 494 M 499 M 507 M 506 M 506 M 506 M 513 M 519 M 531 M 545 M 549 M 544 M 542 M

Historical Prices

- 228 196 174 153 108 108 83.5 77.6 61.7 47.1 46.5 38.7 29.3 25.4

Net Income

4.16 B 4.06 B 3.76 B 3.05 B 3.14 B 2.02 B 1.74 B 1.65 B 1.49 B 1.77 B 1.6 B 1.46 B 1.36 B 1.18 B 993 M

Revenue

27 B 24.5 B 22.7 B 20.7 B 19.8 B 17.2 B 16.7 B 15 B 14 B 13.2 B 12.9 B 13 B 12.3 B 11.9 B 11.5 B

Cost of Revenue

15.6 B 14 B 13.1 B 12.1 B 11.4 B 10.1 B 9.73 B 8.6 B 8.08 B 7.69 B 7.57 B 7.52 B 7.23 B 7.13 B 6.97 B

Gross Profit

- - - - - - 6.92 B 6.34 B 6.14 B 5.75 B 5.56 B 5.44 B 5.04 B 4.79 B 11.5 B

Operating Income

6.22 B 5.82 B 5.28 B 4.28 B 4.31 B 3.07 B 2.68 B 2.76 B 2.66 B 2.43 B 2.18 B 2.3 B 2.08 B 1.83 B 1.64 B

Interest Expense

- - - - 444 M 515 M 524 M 290 M 237 M 189 M 163 M 165 M 167 M 181 M 199 M

EBITDA

6.58 B 6.19 B 5.65 B 4.66 B 5.06 B 3.81 B 3.32 B 3.26 B 3.34 B 3.1 B 2.84 B 2.69 B 2.44 B 2.18 B 1.97 B

Operating Expenses

20.8 B 18.6 B 17.5 B 16.4 B 15.5 B 14.2 B 4.24 B 3.58 B 3.28 B 3.09 B 3.14 B 3.14 B 2.96 B 2.96 B 9.89 B

General and Administrative Expenses

- - - - - - 9.73 B 8.6 B 7.88 B 7.46 B 7.33 B 7.52 B 7.23 B 7.13 B 6.97 B

All numbers in USD currency

Quarterly Income Statement Marsh & McLennan Companies

2025-Q3 2025-Q2 2025-Q1 2024-Q3 2024-Q2 2024-Q1 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Shares

491 M 492 M 492 M 492 M 492 M 492 M 494 M 495 M 495 M - 498 M 501 M 503 M 504 M 506 M 508 M 509 M 508 M 507 M 506 M 505 M 504 M 506 M 507 M 505 M 504 M 504 M 507 M 508 M 509 M 512 M 514 M 515 M 514 M 518 M 521 M 521 M 522 M 528 M 535 M 539 M 540 M 544 M 549 M 548 M 547 M 549 M 551 M 548 M 545 M 544 M 545 M 542 M 539 M 540 M 547 M 544 M

Net Income

747 M 1.21 B 1.38 B 747 M 1.12 B 1.4 B 730 M 1.04 B 1.24 B - 546 M 967 M 1.07 B - 537 M 820 M 983 M 374 M 316 M 572 M 754 M 391 M 303 M 332 M 716 M 153 M 276 M 531 M 690 M 29 M 393 M 501 M 569 M 436 M 379 M 472 M 481 M 375 M 323 M 419 M 482 M 294 M 297 M 431 M 443 M 303 M 253 M 388 M 413 M - 241 M 329 M 347 M - 130 M 282 M 325 M

Revenue

6.35 B 6.97 B 7.06 B 5.7 B 6.22 B 6.47 B 5.38 B 5.88 B 5.92 B - 4.77 B 5.38 B 5.55 B - 4.58 B 5.02 B 5.08 B 4.42 B 3.97 B 4.19 B 4.65 B 4.26 B 3 M 5 M 2 M 3.71 B 4 M 2 M 7 M 3.68 B 3.34 B 3.5 B 3.5 B - - - - - - - - - - - - - - - 20 M - -1 M 4 M 20 M - - -4 M 18 M

Cost of Revenue

3.89 B 3.9 B 3.85 B 3.44 B 3.45 B 3.47 B 3.29 B 3.34 B 3.21 B - 2.92 B 3.01 B 3.1 B - 2.85 B 2.86 B 2.81 B - 2.5 B 2.43 B 2.56 B - 2.44 B 2.54 B 2.28 B - 2.08 B 2.14 B 2.22 B - 1.97 B 2 B 2 B - 1.82 B 1.87 B 1.85 B - 1.88 B 1.83 B 1.73 B - 1.9 B 1.88 B 1.84 B - 1.82 B 1.77 B 1.8 B - 1.76 B 1.78 B 1.8 B - 1.75 B 1.73 B 1.72 B

Operating Income

1.17 B 1.83 B 2 B 1.11 B 1.64 B 1.92 B 996 M 1.46 B 1.73 B - 791 M 1.36 B 1.44 B - 740 M 1.23 B 1.36 B 571 M 540 M 885 M 1.07 B 592 M 467 M 680 M 938 M 621 M 541 M 691 M 908 M 670 M 535 M 701 M 749 M 580 M 517 M 661 M 673 M 594 M 461 M 629 M 735 M 536 M 445 M 647 M 673 M 489 M 404 M 577 M 607 M 406 M 378 M 518 M 1.83 B - 310 M 465 M 472 M

Interest Expense

- - - - - 159 M 145 M 146 M 136 M - 118 M 114 M 110 M - 107 M 110 M 118 M - 128 M 132 M 127 M - 133 M 141 M 120 M - 69 M 68 M 61 M - 60 M 60 M 58 M - 47 M 48 M 46 M - 41 M 40 M 36 M - 45 M 42 M 42 M - 40 M 40 M 44 M - 44 M 45 M 46 M - 49 M 49 M 51 M

EBITDA

1.26 B 1.92 B 2.09 B 1.2 B 1.73 B 2.02 B 1.08 B 1.54 B 1.81 B - 875 M 1.45 B 1.53 B - 1.03 B 1.43 B 1.46 B 571 M 822 M 1.07 B 1.17 B 592 M 712 M 839 M 1.01 B 621 M 777 M 850 M 988 M 670 M 769 M 857 M 829 M 580 M 748 M 815 M 751 M 594 M 694 M 785 M 812 M 536 M 670 M 796 M 748 M 489 M 617 M 719 M 676 M 406 M 579 M 651 M 1.9 B - 510 M 598 M 539 M

Operating Expenses

5.18 B 5.14 B 5.06 B 4.59 B 4.58 B 4.55 B 4.39 B 4.42 B 4.2 B - 3.98 B 4.02 B 4.1 B - 3.84 B 3.79 B 3.72 B - 3.43 B 3.3 B 3.58 B - 3.5 B 3.67 B 3.13 B - 2.96 B 3.04 B 3.09 B - 2.81 B 2.79 B 2.75 B - 2.56 B 2.65 B 2.6 B - 2.65 B 2.6 B 2.48 B - 2.7 B 2.65 B 2.59 B - 2.53 B 2.51 B 2.52 B - 2.47 B 2.51 B 2.52 B - 2.5 B 2.46 B 2.41 B

All numbers in USD currency

The income statement is one of the three key financial reports of a company Marsh & McLennan Companies (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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