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.
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Marsh (MRSH) EBITDA
Marsh's EBITDA for fiscal 2025 was $7.1B, up 8.69% from $6.6B in fiscal 2024. Over the twelve months to 30 June 2026 it was $6.9B. Over the past ten years it has ranged from $2.8B (fiscal 2015) to $7.1B (fiscal 2025) — the current reading is the highest in ten years. EBITDA has risen for 3 consecutive fiscal years. Marsh ranks 1st of 19 Insurance Brokers companies by EBITDA.
EBITDA, annual
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Annual newest first
| Period | EBITDA | Change |
|---|---|---|
| FY2025 | $7.1B | 8.69% |
| FY2024 | $6.6B | 9.47% |
| FY2023 | $6.0B | 19.92% |
| FY2022 | $5.0B | (1.19%) |
| FY2021 | $5.1B | 32.89% |
| FY2020 | $3.8B | 14.53% |
| FY2019 | $3.3B | 2.12% |
| FY2018 | $3.3B | 3.79% |
| FY2017 | $3.1B | 9.31% |
| FY2016 | $2.9B | 0.95% |
Quarterly newest first
| Period | EBITDA | Change |
|---|---|---|
| Jun 2026 | $2.1B | 7.32% |
| Mar 2026 | $2.0B | 36.90% |
| Dec 2025 | $1.4B | 3.80% |
| Sep 2025 | $1.4B | (32.33%) |
| 42 more quarters | Free account |
Against its own ten years
EBITDA against peers
| Company | EBITDA |
|---|---|
| MRSH Marsh | $6.9B |
| AON Aon plc compare | $5.5B |
| AJG Arthur J. Gallagher & Co. compare | $4.0B |
| WTW Willis Towers Watson Public Limited Company compare | $2.7B |
| BRO Brown & Brown, Inc. compare | $2.5B |
| ERIE Erie Indemnity Company compare | $737.5M |
| ARX Accelerant Holdings compare | $282.3M |
| CRVL CorVel Corp. compare | $184.1M |
| BWIN Baldwin Insurance Group, Inc. compare | $80.4M |
What EBITDA is
EBITDA shows what a company earns from its operations before interest, taxes and the non-cash charges for depreciation and amortization.
Reported line item
More on MRSH
- Revenue
- Net income
- EPS (diluted)
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement