What is Marsh's consulting — compensation and benefits?

Marsh (MRSH) reported consulting — compensation and benefits of $1.52B in Q2 2026.

How has Marsh's consulting — compensation and benefits changed year-over-year?

Marsh's consulting — compensation and benefits increased by 9.0% year-over-year, from $1.4B to $1.52B.

What does consulting — compensation and benefits mean?

Includes all salaries, bonuses, stock-based compensation, and employee benefit costs for the consulting segment's workforce. As consulting is a human-capital-intensive business, this is typically the largest operating expense. It serves as a key indicator of the cost to attract and retain specialized talent.

Marsh (MRSH) Consulting — Compensation and benefits

Screener

Other segment segments

Risk and Insurance Services

$2.58B—

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Other financials

Income statement

See full

Revenue$7.4B+6.2%

Operating income$1.9B+3.8%

Net income$1.3B+4.5%

EPS (diluted)$2.63+7.3%

Balance sheet

See full

Cash & equivalents$1.7B+1.4%

Total debt$21.7B+3.5%

Total assets$59.7B+1.9%

Cash flow

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Operating cash flow$1.5B-8.9%

CapEx$72.0M+22.0%

Free cash flow$1.5B-10.0%

Valuation

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Market cap$91.37B+2.3%

Enterprise value$111.41B—

P/E23×—

P/S3.3×—

Profitability

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Operating margin21.6%-2.0pp

Net margin14.2%-1.8pp

FCF margin17.1%-1.0pp

Returns & leverage

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Current ratio1.1×-0.1×

Where this comes from

Reported directly by Marsh in its filing.

Tagged under the XBRL concept us-gaap:LaborAndRelatedExpense.

The source filing: Marsh’s 10-Q, filed July 21, 2026.

Filed: Jul 21, 2026, 8:13 AM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0000062709-26-000195

(In millions)	Three Months Ended June 30, / Revenue	Three Months Ended June 30, / Compensation and benefits	Three Months Ended June 30, / Depreciationandamortization expense	Three Months Ended June 30, / Identified intangibleamortization expense	Three Months Ended June 30, / Other segment items	Three Months Ended June 30, / Operating Income(Loss)
2026 –
Risk and Insurance Services	$4,823	$2,583	$51	$119	$592	$1,478
Consulting	2,602	1,524	24	18	534	502
Total Segments	7,425	4,107	75	137	1,126	1,980
Corporate/Eliminations	(21)	34	15	—	11	(81)
Total Consolidated	$7,404	$4,141	$90	$137	$1,137	$1,899
2025 –
Risk and Insurance Services	$4,625	$2,462	$51	$121	$548	$1,443

Item 1.Financial Statements.

FAQ

What is Marsh's consulting — compensation and benefits?: Marsh (MRSH) reported consulting — compensation and benefits of $1.52B in Q2 2026.
How has Marsh's consulting — compensation and benefits changed year-over-year?: Marsh's consulting — compensation and benefits increased by 9.0% year-over-year, from $1.4B to $1.52B.
What does consulting — compensation and benefits mean?: Includes all salaries, bonuses, stock-based compensation, and employee benefit costs for the consulting segment's workforce. As consulting is a human-capital-intensive business, this is typically the largest operating expense. It serves as a key indicator of the cost to attract and retain specialized talent.