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Saturday 17 October 2026 Export MRSH’s income statement to Excel — free account

Marsh

MRSH Financial Insurance Brokers

Marsh’s revenue for fiscal 2025 (year ended December 2025) was $27.0 billion, up 10.3% from fiscal 2024. In the quarter to September 2026, revenue grew 8.06%, EPS grew 12.2%, free cash flow fell 9.99% and total debt rose 3.12%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for three.

188.35 1.81 +0.97%
Market cap
$89.0B
P/E
22.4×
Fwd P/E
19.2×
Dividend yield
2.01%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Marsh (MRSH) Debt to equity

Alert me on Debt to equity

Marsh's debt to equity at the end of the quarter to 30 September 2026 was 1.3×, up 0.1× from fiscal 2025 (1.2×). Over the past ten years it has ranged from 0.7× (fiscal 2015) to 1.4× (fiscal 2024); the current reading is higher than 82% of that period. That is above the Insurance Brokers industry median of 0.2× and above the Financial sector median of 0.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 1.2× (16.66%)
FY2024 1.4× 49.91%
FY2023 1.0× (8.33%)
FY2022 1.0× 7.22%
FY2021 1.0× (16.44%)
FY2020 1.2× (13.78%)
FY2019 1.4× 86.14%
FY2018 0.7× 3.48%
FY2017 0.7× (2.04%)
FY2016 0.7× 7.48%

Quarterly newest first

Period Debt to equity Change
Sep 2026 1.3× 3.50%
Jun 2026 1.2× (4.10%)
Mar 2026 1.3× 6.71%
Dec 2025 1.2× 0.30%
43 more quarters

Against its own ten years

Low 0.7× High 1.4×
Ten-year median 1.0×
Current reading's percentile 82

Debt to equity against peers

Company Debt to equity
CRVL CorVel Corp. compare 0.0×
ERIE Erie Indemnity Company compare 0.0×
ARX Accelerant Holdings compare 0.2×
AJG Arthur J. Gallagher & Co. compare 0.5×
BRO Brown & Brown, Inc. compare 0.6×
WTW Willis Towers Watson Public Limited Company compare 0.8×
MRSH Marsh 1.3×
AON Aon plc compare 1.5×
BWIN Baldwin Insurance Group, Inc. compare 1.7×
Insurance Brokers industry median 0.2×
Financial sector median 0.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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