Sign inStart free

10-Q quarterly report · filed Oct 16, 2025

Marsh McLennan (MRSH) Q3 2025 10-Q Quarterly Report

MRSH overviewOriginal on SEC EDGAR
Follow MRSH for alertsAsk AI about MRSH

Short answer

Marsh McLennan (MRSH) filed its Q3 2025 10-Q quarterly report on Oct 16, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $6.4B (up 11.5% year over year) with net income of $747M.

Q3 2025 key financials · XBRL

Revenue
$6.4B
+11.5% YoY · −8.9% QoQ
Net income
$747M
+0.0% YoY · −38.3% QoQ
Operating margin
18.4%
EPS (diluted)
$1.52
+0.7% YoY · −37.7% QoQ

Source: XBRL data from the Marsh McLennan (MRSH) Q3 2025 10-Q on SEC EDGAR. USD.

Marsh McLennan Q3 2025 10-Q analysis

AI summary of MD&A and risk factor updates

Management Discussion & Analysis

  • Revenue $6.4B Q3 FY2025, up 11% YoY from $5.7B; nine months $20.4B, up 11% YoY from $18.4B
  • Operating income $1.17B Q3 FY2025, up 6% YoY; margin 18.4% vs prior year ~19.4%; nine months $5.0B, up 7% YoY
  • Best segment: Risk & Insurance Services revenue $3.9B Q3, +13%; operating income $750M Q3, up from $733M YoY
  • Worst segment: Consulting revenue $2.5B Q3, +9%; operating margin stable at 20.3% vs 20.4% YoY
  • Operating cash flow $3.1B YTD, up $0.8B from prior year; share repurchases 4.6M shares for $1B YTD; $400M repurchased Q3
  • Guidance commentary: Founded 3-year Thrive program; expects $500M costs, $400M annual savings; Macro risks from wars, tariffs, FX, inflation noted

Risk Factors

  • No new or updated risk factors reported in current quarter versus 2024 10-K
  • Regulatory risk: ongoing global compliance with complex insurance and financial services laws remains critical
  • Competitive risk: intense market competition impacting client retention and pricing pressure in brokerage services
  • Financial risk: exposure to foreign currency fluctuations due to international operations affecting earnings
  • Operational risk: dependence on technology infrastructure and cybersecurity threats could disrupt business continuity

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

Other Marsh McLennan quarterly reports

Ask about this quarter

Compare quarters, check guidance or see what insiders and funds did around the report.

Start free