MARSH & MCLENNAN COMPANIES, INC.

10-K & 10-Q Filings

Marsh McLennan Companies, Inc. is a professional services firm specializing in risk, strategy, and people. The company operates through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman Group. Marsh is the world's leading insurance broker and risk advisor, providing risk analysis, insurance program design and placement, risk consulting, and analytics services. Guy Carpenter is a reinsurance intermediary and advisor, offering specialized reinsurance broking expertise, strategic advisory services, and analytics solutions. Mercer provides advice, solutions, and products for organizations in the areas of health, wealth, and career needs. Oliver Wyman Group delivers advisory services in strategy, operations, risk management, and organization transformation across various industries. The company's website is marshmclennan.com, and its ticker symbol is MMC. Marsh McLennan generated approximately $23 billion in revenue in 2023 and employed over 85,000 colleagues worldwide. The company's Risk and Insurance Services segment accounted for approximately 62% of its revenue, while the Consulting segment accounted for approximately 38%.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$11526.00
11924.00
12261.00
12951.00
12893.00
13211.00
14024.00
14950.00
16652.00
17224.00
19820.00
20720.00
22736.00
5924.00
6473.00
5.82%9.27%Cost of Revenue (-)
$
Selling, General & Administrative (-)
$6969.00
7134.00
7226.00
7515.00
7334.00
7461.00
7884.00
8605.00
9734.00
10129.00
11425.00
12071.00
13099.00
3207.00
3470.00
5.40%8.20%Operating Expenses (-)
$9888.00
10095.00
10184.00
10650.00
10474.00
10547.00
11168.00
12189.00
13975.00
14158.00
15508.00
16440.00
17454.00
4198.00
4548.00
4.85%8.34%Costs & Expenses (Total) (-)
$9888.00
10095.00
10184.00
10650.00
10474.00
10547.00
11168.00
12189.00
13975.00
14158.00
15508.00
16440.00
17454.00
4198.00
4548.00
4.85%8.34%Operating Income/Loss (+)
$1638.00
1829.00
2077.00
2301.00
2419.00
2664.00
2856.00
2761.00
2677.00
3066.00
4312.00
4280.00
5282.00
1726.00
1925.00
10.25%11.53%Non-operating Income/Expense (+)
$-35.00
24.00
63.00
-79.00
51.00
6.00
24.00
11.00
7.00
-15.00
63.00
36.00
83.00
16.00
38.00
137.50%Interest Expense (-)
$199.00
181.00
167.00
165.00
163.00
189.00
237.00
290.00
524.00
515.00
444.00
469.00
578.00
136.00
159.00
9.29%16.91%Earnings before Tax (+)
$1404.00
1696.00
1973.00
2057.00
2307.00
2480.00
2643.00
2244.00
2439.00
2793.00
4208.00
4082.00
5026.00
1664.00
1871.00
11.21%12.44%Tax Expense (-)
$422.00
492.00
594.00
586.00
671.00
685.00
1133.00
574.00
666.00
747.00
1034.00
995.00
1224.00
412.00
447.00
9.28%8.50%Income/Loss (Continuing Operations) (+)
$982.00
1204.00
1379.00
1471.00
1636.00
1795.00
1510.00
1670.00
1773.00
2046.00
3174.00
3087.00
3802.00
1252.00
1424.00
11.94%13.74%Income/Loss (Discontinued Operations) (+)
$33.00
-3.00
6.00
26.00
2.00
Profit/Loss (+)
$1015.00
1201.00
1385.00
1497.00
1636.00
1795.00
1512.00
1670.00
1773.00
2046.00
3174.00
3087.00
3802.00
1252.00
1424.00
11.63%13.74%Net Income/Loss (NCI) (-)
$22.00
25.00
28.00
32.00
37.00
27.00
20.00
20.00
31.00
30.00
31.00
37.00
46.00
17.00
24.00
6.34%41.18%Net Income/Loss (+)
$993.00
1176.00
1357.00
1465.00
1599.00
1768.00
1492.00
1650.00
1742.00
2016.00
3143.00
3050.00
3756.00
1235.00
1400.00
11.72%13.36%Net Income/Loss (Common) (+)
$993.00
1176.00
1357.00
1465.00
1599.00
1768.00
1492.00
1650.00
1742.00
2016.00
3143.00
3050.00
3756.00
1235.00
1400.00
11.72%13.36%EPS (Basic)
$1.82
2.16
2.47
2.69
3.01
3.41
2.91
3.26
3.44
3.98
6.20
6.11
7.60
2.50
2.84
12.65%13.60%EPS (Diluted)
$1.79
2.13
2.43
2.65
2.98
3.38
2.87
3.23
3.41
3.94
6.13
6.04
7.53
2.47
2.82
12.72%14.17%Weighted Avg Shares (Basic)
542.00
544.00
549.00
545.00
531.00
519.00
513.00
506.00
506.00
506.00
507.00
499.00
494.00
495.00
492.00
-0.77%-0.61%Weighted Avg Shares (Diluted)
551.00
552.00
558.00
553.00
536.00
524.00
519.00
511.00
511.00
512.00
513.00
505.00
499.00
500.00
497.00
-0.82%-0.60%Cash
$
2303.00
1958.00
1374.00
1026.00
1205.00
1066.00
1155.00
2089.00
1752.00
1442.00
3358.00
1006.00
1452.00
44.33%Receivables
$5917.00
6222.00
6718.00
6849.00
7029.00
7382.00
8376.00
8746.00
10612.00
10794.00
11338.00
11864.00
12987.00
13554.00
14589.00
6.77%7.64%Other Assets (Current)
$2775.00
2905.00
687.00
720.00
199.00
215.00
224.00
551.00
677.00
740.00
926.00
1005.00
5403.00
1407.00
5258.00
5.71%273.70%Assets (Current)
$5648.00
5963.00
6300.00
6055.00
5044.00
4884.00
5562.00
5934.00
7068.00
8155.00
8264.00
8299.00
21748.00
9113.00
21299.00
11.89%133.72%Property, Plant & Equipment (Net)
$804.00
809.00
828.00
809.00
773.00
725.00
712.00
701.00
2779.00
2750.00
2715.00
2433.00
2423.00
2453.00
2371.00
9.63%-3.34%Goodwill & Intangibles
$
1036.00
1126.00
1274.00
11036.00
17445.00
18216.00
19127.00
18788.00
19861.00
18752.00
19945.00
6.36%Other Assets
$9002.00
9516.00
9852.00
10976.00
11363.00
11455.00
12881.00
3907.00
4065.00
3928.00
4282.00
3934.00
3998.00
4040.00
3957.00
-6.54%-2.05%Assets (Non-current)
$9806.00
10325.00
10680.00
11785.00
13172.00
13306.00
14867.00
15644.00
24289.00
24894.00
26124.00
25155.00
26282.00
25245.00
26273.00
8.56%4.07%Assets (Total)
$15454.00
16288.00
16980.00
17840.00
18216.00
18190.00
20429.00
21578.00
31357.00
33049.00
34388.00
33454.00
48030.00
34358.00
47572.00
9.91%38.46%Accounts Payable
$1463.00
1583.00
3475.00
3694.00
3696.00
3770.00
4000.00
4169.00
5122.00
5697.00
3165.00
6594.00
7070.00
5497.00
5723.00
14.03%4.11%Debt (Current)
$260.00
260.00
334.00
11.00
12.00
312.00
262.00
314.00
1557.00
517.00
17.00
268.00
1619.00
2111.00
1169.00
16.46%-44.62%Other Liabilities (Current)
$2016.00
1721.00
441.00
342.00
3472.00
310.00
11106.00
306.00
11768.00
15.28%3745.75%Liabilities (Current)
$3739.00
3564.00
3809.00
3705.00
3708.00
4082.00
4262.00
4924.00
6679.00
6556.00
6654.00
7172.00
19795.00
7914.00
18660.00
14.90%135.78%Debt (Non-current)
$2668.00
2658.00
2621.00
3376.00
4402.00
4495.00
5225.00
5510.00
12667.00
10796.00
10933.00
11227.00
11844.00
10841.00
12300.00
13.23%13.46%Other Liabilities
$3107.00
3460.00
2575.00
3626.00
3504.00
3341.00
3500.00
3560.00
4068.00
6437.00
5579.00
4306.00
4021.00
4407.00
3990.00
2.17%-9.46%Liabilities (Non-current)
$5775.00
6118.00
5196.00
7002.00
7906.00
7836.00
8725.00
9070.00
16735.00
17233.00
16512.00
15533.00
15865.00
15248.00
16290.00
8.79%6.83%Liabilities (Total)
$9514.00
9682.00
9005.00
10707.00
11614.00
11918.00
12987.00
13994.00
23414.00
23789.00
23166.00
22705.00
35660.00
23162.00
34950.00
11.64%50.89%Treasury Stock
$595.00
447.00
515.00
925.00
1991.00
2506.00
3083.00
3567.00
3774.00
3562.00
4478.00
6207.00
7076.00
6387.00
7198.00
22.92%12.70%Retained Earnings
$7949.00
8628.00
9452.00
10335.00
11302.00
12388.00
13140.00
14347.00
15199.00
16272.00
18389.00
20301.00
22759.00
20949.00
23456.00
9.16%11.97%AOCI
$-3188.00
-3307.00
-2621.00
-3847.00
-4220.00
-5093.00
-4043.00
-4647.00
-5055.00
-5110.00
-4575.00
-5314.00
-5295.00
-5234.00
-5509.00
-5.25%Shareholder's Equity
$5940.00
6606.00
7975.00
7133.00
6602.00
6272.00
7442.00
7584.00
7943.00
9260.00
11222.00
10749.00
12370.00
11196.00
12622.00
6.30%12.74%Liabilities & Equity
$15454.00
16288.00
16980.00
17840.00
18216.00
18190.00
20429.00
21578.00
31357.00
33049.00
34388.00
33454.00
48030.00
34358.00
47572.00
9.91%38.46%Net Income/Loss
$1015.00
1201.00
1385.00
1497.00
1636.00
1795.00
1512.00
1670.00
1773.00
2046.00
3174.00
3087.00
3802.00
1252.00
1424.00
11.63%13.74%Depreciation & Amortization
$332.00
349.00
358.00
388.00
423.00
438.00
481.00
494.00
647.00
741.00
747.00
719.00
713.00
169.00
189.00
6.58%11.83%Increase/Decrease in Working Capital
$-60.00
313.00
589.00
74.00
397.00
365.00
616.00
302.00
811.00
114.00
683.00
1012.00
908.00
2439.00
2536.00
3.98%Share-based Compensation
$21.00
26.00
18.00
93.00
88.00
109.00
149.00
193.00
252.00
290.00
348.00
367.00
363.00
99.00
103.00
26.81%4.04%Adjustments to Reconcile Net Income
$690.00
121.00
-44.00
615.00
252.00
212.00
381.00
758.00
588.00
1336.00
342.00
378.00
456.00
-2071.00
-2205.00
-3.39%-6.47%Net Cash (Operating)
$1705.00
1322.00
1341.00
2112.00
1888.00
2007.00
1893.00
2428.00
2361.00
3382.00
3516.00
3465.00
4258.00
-819.00
-781.00
7.93%4.64%Capital Expenditure
$535.00
606.00
533.00
1223.00
1204.00
1062.00
949.00
1085.00
5858.00
915.00
1186.00
923.00
433.00
104.00
61.00
-1.75%-41.35%Net Cash (Investing)
$-457.00
-583.00
-446.00
-1222.00
-1265.00
-1056.00
-956.00
-1089.00
-5671.00
-814.00
-1164.00
-850.00
-1417.00
-368.00
-368.00
0.00%Increase/Decrease in Debt
$485.00
-11.00
13.00
297.00
1030.00
385.00
672.00
328.00
5695.00
-778.00
-273.00
619.00
1903.00
1429.00
35.00
12.07%-97.55%Increase/Decrease in Equity
$-199.00
18.00
-198.00
-537.00
-1176.00
-612.00
-734.00
-617.00
-327.00
132.00
-998.00
-1824.00
-951.00
-258.00
-187.00
27.52%Dividends Paid
$480.00
497.00
533.00
582.00
632.00
682.00
740.00
807.00
890.00
943.00
1062.00
1165.00
1329.00
299.00
358.00
8.86%19.73%Net Cash (Financing)
$-1007.00
-633.00
-834.00
-961.00
-906.00
-1067.00
-1009.00
-1310.00
3306.00
-1880.00
-1297.00
-1046.00
-1119.00
773.00
135.00
-82.54%Effect of Exchange Rate
$-22.00
82.00
-232.00
251.00
-168.00
93.00
246.00
-355.00
-841.00
328.00
152.00
-228.00
-250.00%Increase/Decrease in Cash
$219.00
188.00
2.00
-345.00
-584.00
-348.00
179.00
-139.00
89.00
934.00
700.00
728.00
2050.00
-262.00
-1242.00
20.49%-374.05%Cash (Beginning)
$1894.00
2113.00
2301.00
2303.00
1958.00
1374.00
1026.00
1205.00
1066.00
1155.00
10674.00
11374.00
12102.00
12102.00
14152.00
16.71%16.94%Cash (Ending)
$2113.00
2301.00
2303.00
1958.00
1374.00
1026.00
1205.00
1066.00
1155.00
2089.00
11374.00
12102.00
14152.00
11840.00
12910.00
17.17%9.04%NOPAT
$1145.67
1298.42
1451.69
1645.49
1715.42
1928.18
1631.69
2054.75
1946.01
2245.98
3252.44
3236.74
3995.66
1298.65
1465.10
10.97%12.82%Operating Margin %
14.21%
15.34%
16.94%
17.77%
18.76%
20.17%
20.37%
18.47%
16.08%
17.80%
21.76%
20.66%
23.23%
29.14%
29.74%
NOPAT Margin %
9.94%
10.89%
11.84%
12.71%
13.31%
14.60%
11.63%
13.74%
11.69%
13.04%
16.41%
15.62%
17.57%
21.92%
22.63%
Net Margin %
8.62%
9.86%
11.07%
11.31%
12.40%
13.38%
10.64%
11.04%
10.46%
11.70%
15.86%
14.72%
16.52%
20.85%
21.63%
Tax Rate %
30.06%
29.01%
30.11%
28.49%
29.09%
27.62%
42.87%
25.58%
27.31%
26.75%
24.57%
24.38%
24.35%
24.76%
23.89%
ROA
7.41%
7.97%
8.55%
9.22%
9.42%
10.60%
7.99%
9.52%
6.21%
6.80%
9.46%
9.68%
8.32%
3.78%
3.08%
ROE
19.29%
19.66%
18.20%
23.07%
25.98%
30.74%
21.93%
27.09%
24.50%
24.25%
28.98%
30.11%
32.30%
11.60%
11.61%
ROIC
142.50%
160.50%
27.41%
31.29%
26.67%
29.71%
21.56%
11.97%
7.24%
8.13%
10.83%
11.65%
16.03%
4.37%
5.65%
Asset Turnover
0.75
0.73
0.72
0.73
0.71
0.73
0.69
0.69
0.53
0.52
0.58
0.62
0.47
0.17
0.14
Equity Multiplier
2.60
2.47
2.13
2.50
2.76
2.90
2.75
2.85
3.95
3.57
3.06
3.11
3.88
3.07
3.77
Current Ratio
2.32
2.56
2.55
2.57
2.32
2.11
2.30
2.10
1.86
2.08
2.11
2.00
1.10
2.02
1.14
Quick Ratio
1.58
1.75
2.37
2.38
2.27
2.06
2.25
1.99
1.76
1.97
1.97
1.86
0.83
1.84
0.86
Debt/Equity Ratio
0.49
0.44
0.37
0.47
0.67
0.77
0.74
0.77
1.79
1.22
0.98
1.07
1.09
1.16
1.07
Working Capital/Sales
0.36
0.34
0.36
0.35
0.40
0.36
0.40
0.39
0.41
0.32
0.12
1.43
0.56
Dividend Payout Ratio %
41.90%
38.28%
36.72%
35.37%
36.84%
35.37%
45.35%
39.27%
45.73%
41.99%
32.65%
35.99%
33.26%
23.02%
24.44%
Total Payout
$194.00
490.00
718.00
822.00
778.00
909.00
802.00
1096.00
-4478.00
1589.00
2333.00
2370.00
377.00
-872.00
510.00
5.69%158.49%Payout Ratio %
16.93%
37.74%
49.46%
49.95%
45.35%
47.14%
49.15%
53.34%
-230.11%
70.75%
71.73%
73.22%
9.44%
-67.15%
34.81%