MRSH Marsh McLennan

FY2025 10-K
Filed: Feb 9, 2026
Financials
Insurance Agents, Brokers & ServiceSEC EDGAR

Marsh McLennan (MRSH) filed its fiscal year 2025 10-K annual report with the SEC on Feb 9, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

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
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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%
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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
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Financial Summary
XBRL

Revenue

$27.0B

Net Income

$4.2B

Operating Margin

23.1%

Net Margin

15.4%

ROE

27.2%

Total Assets

$58.7B

EPS (Diluted)

$8.43

Operating Cash Flow

$5.3B

Source: XBRL data from Marsh McLennan FY2025 10-K filing on SEC EDGAR. All figures in USD.

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