MARSH & MCLENNAN COMPANIES, INC. (MRSH) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	28.5B	27.0B	24.5B	22.7B	20.7B
Cost of Revenue	16.3B	15.6B	14.0B	13.1B	12.1B
Gross Profit	12.2B	11.4B	10.5B	9.6B	8.6B
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	—	—	—	—	—
General & Admin Expense	—	—	—	—	—
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	6.1B	5.2B	4.6B	4.4B	4.4B
Total Operating Expenses	6.1B	5.2B	4.6B	4.4B	4.4B
Cost and Expenses	22.4B	20.8B	18.6B	17.5B	16.4B
Operating Income (EBIT)	6.1B	6.2B	5.8B	5.3B	4.3B
Non-Operating
Interest Income	43.0M	48.0M	83.0M	78.0M	15.0M
Interest Expense	973.0M	960.0M	700.0M	578.0M	469.0M
Net Interest Income	(930.0M)	(912.0M)	(617.0M)	(500.0M)	(454.0M)
Other Non-Op Income/Expense	(715.0M)	(684.0M)	(337.0M)	(256.0M)	(198.0M)
Non-Operating Income (excl Interest)	988.0M	(262.0M)	(363.0M)	(322.0M)	(271.0M)
EBT (Pre-Tax Income)	5.4B	5.5B	5.5B	5.0B	4.1B
Income Tax Expense	1.2B	1.3B	1.4B	1.2B	995.0M
Bottom Line
Net Income	4.0B	4.2B	4.1B	3.8B	3.0B
Earnings from Cont. Ops	4.1B	4.2B	4.1B	3.8B	3.1B
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	4.0B	4.2B	4.1B	3.8B	3.0B
Per Share
Basic EPS	$8.39	$8.48	$8.25	$7.60	$6.11
Diluted EPS	$8.36	$8.43	$8.18	$7.53	$6.04
Revenue Per Share	$59.79	$55.40	$49.71	$46.02	$41.52
Shares
Basic Shares Outstanding	476.0M	487.0M	492.0M	494.0M	499.0M
Diluted Shares Outstanding	479.0M	490.0M	496.0M	499.0M	505.0M
Profitability Metrics
EBITDA	6.0B	7.4B	6.9B	6.3B	5.3B
D&A	913.0M	910.0M	746.0M	713.0M	719.0M
EBIT	5.1B	6.5B	6.2B	5.6B	4.6B

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026