Marsh McLennan (MRSH) FY2025 10-K Annual Report
Marsh McLennan (MRSH) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 9, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Marsh McLennan FY2025 10-K Analysis
Business Overview
- • Core business model focused on risk management and consulting services (implied from company identity, no new business model details given)
- • No new products, services, or segments introduced or emphasized in the 2026 filing text provided
Management Discussion & Analysis
- • Revenue $27.0B, up 10% YoY ($2.5B increase), underlying growth 4%; Risk & Insurance Services +12%, Consulting +7%
- • Operating income $6.2B, up 7% YoY; Risk & Insurance margin 26.8% down from 28.4%, Consulting margin flat at 19.4%
Risk Factors
- • Regulatory risk: Compliance costs and penalties under GDPR, CCPA, emerging EU AI Act impacting financial condition and reputation
- • Geopolitical threat: Exposure to conflict zones including Ukraine war, Middle East tensions, and Latin America impacting economic markets and client demand
Marsh McLennan FY2025 Key Financial MetricsXBRL
Revenue
$27.0B
▲ +10.3% YoY
Net Income
$4.2B
▲ +2.5% YoY
Operating Margin
23.1%
▼ -72bp YoY
Net Margin
15.4%
▼ -118bp YoY
ROE
27.2%
▼ -283bp YoY
Total Assets
$58.7B
▲ +3.9% YoY
EPS (Diluted)
$8.43
▲ +3.1% YoY
Operating Cash Flow
$5.3B
▲ +23.0% YoY
Source: XBRL data from Marsh McLennan FY2025 10-K filing on SEC EDGAR. All figures in USD.
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