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Marsh MRSH Q4 2025 Annual earnings

Reported January 29, 2026 · Before market open

Revenue$6.6BBeat by $39.6M
EPS$2.12Beat by $0.15
Revenue estimate$6.6B
EPS estimate$1.97

Next report

Oct 15, 2026 (In 1 week)
Revenue estimate$6.7B
EPS estimate$1.97

Financials

Q4 2025

Income statement

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Revenue$6.6B+8.7%
Operating income$1.2B+6.7%
Net income$821.0M+4.2%
EPS (diluted)$1.68+5.7%

Balance sheet

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Cash & equivalents$2.7B+12.1%
Total debt$20.2B-5.4%
Total assets$58.7B+3.9%

Cash flow

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Operating cash flow$2.2B+10.5%
CapEx$105.0M+38.2%
Free cash flow$2.1B+9.4%

Valuation & ratios

Profitability

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Operating margin23.1%-0.7pp
Net margin15.4%-1.2pp
FCF margin18.5%+2.2pp

Returns & leverage

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Current ratio1.1×0.0×

Segments

By segment

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Consulting$2.6B—

FAQ

When did Marsh report Q4 2025 earnings?
Marsh (MRSH) reported Q4 2025 earnings on January 29, 2026 before market open.
What were Marsh's Q4 2025 revenue and EPS?
Marsh reported revenue of $6.6B and eps of $2.12 for Q4 2025.
Did Marsh beat estimates in Q4 2025?
Revenue beat the consensus estimate of $6.6B by $39.6M. EPS beat the consensus estimate of $1.97 by $0.15.
How did Marsh's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.7% from $6.1B a year earlier and eps grew 13.4% from $1.87.
Where can I find Marsh's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000062709-26-000014) and the 10-K periodic report (0000062709-26-000022) directly on SEC EDGAR. The filing index links above go to sec.gov.