How does Marsh & McLennan Companies (MRSH) make money?

Marsh & McLennan Companies (MRSH) generates revenue primarily from Marsh Insurance Group, which accounted for 33.7% of total revenue in TTM through Q1 2026. The company reported $27.52B in revenue and converted 14.3% of it into net profit, equivalent to roughly $3.92B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Marsh & McLennan Companies (MRSH)?

Marsh & McLennan Companies (MRSH) reported a gross profit margin of 42.4% in TTM through Q1 2026, equivalent to $11.66B in gross profit on $27.52B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Marsh & McLennan Companies (MRSH)?

Marsh & McLennan Companies (MRSH) reported an operating profit margin of 21.7% in TTM through Q1 2026, equivalent to $5.97B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Marsh & McLennan Companies (MRSH)?

Marsh & McLennan Companies (MRSH) reported a net profit margin of 14.3% in TTM through Q1 2026, equivalent to $3.92B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Marsh & McLennan Companies (MRSH) profitable?

Yes. Marsh & McLennan Companies (MRSH) reported $3.92B in net income for TTM through Q1 2026, with a net profit margin of 14.3%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Marsh & McLennan Companies (MRSH) spend on capital expenditures?

Marsh & McLennan Companies (MRSH) spent $298.00M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 1.1% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Marsh & McLennan Companies (MRSH) generate?

Marsh & McLennan Companies (MRSH) generated $4.93B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 17.9%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Marsh & McLennan Companies (MRSH)?

Marsh & McLennan Companies (MRSH) had an effective tax rate of 24.3% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Marsh & McLennan Companies (MRSH)?

Marsh & McLennan Companies (MRSH) reports revenue across 6 reportable product segments, led by Marsh Insurance Group at 33.7% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Marsh & McLennan Companies Makes Money: 2026 Visual Revenue Map

Marsh & McLennan Companies (MRSH) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 16, 2026).

Marsh & McLennan Companies discloses geographic revenue only in annual filings. to view the full breakdown.

Marsh & McLennan Companies (MRSH) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Marsh & McLennan Companies (MRSH) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Marsh Insurance Group	$9.28B	33.7%
Risk And Insurance Services Segment	$9.05B	32.9%
Consulting Segment	$5.13B	18.6%
Mercer Consulting Group	$1.76B	6.4%
Guy Carpenter Reinsurance Group	$1.35B	4.9%
Oliver Wyman Group Consulting Group	$951.42M	3.5%
Total	$27.52B	100%

Marsh Insurance Group$9.28B
Risk And Insurance Services Segment$9.05B
Consulting Segment$5.13B
Mercer Consulting Group$1.76B
Guy Carpenter Reinsurance Group$1.35B
Oliver Wyman Group Consulting Group$951.42M
Total$27.52B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Marsh & McLennan Companies (MRSH) reports revenue across 6 operating segments; the largest segment was Marsh Insurance Group at 33.7%, followed by Risk And Insurance Services Segment (32.9%) and Consulting Segment (18.6%).

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