MARSH & MCLENNAN COMPANIES, INC.
For the period ended Sep 30, 2025. Filed Oct 16, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 16, 2025
MRSH$206.94+1.3%Stored close · as of Nov 10, 2026
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CONSOLIDATED STATEMENTS OF INCOME
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (In millions, except per share data) | 2025 | 2024 | 2025 | 2024 |
| Revenue | $6,351 | $5,697 | $20,386 | $18,391 |
| Expense: | ||||
| Compensation and benefits | 3,894 | 3,442 | 11,639 | 10,366 |
| Other operating expenses | 1,287 | 1,147 | 3,743 | 3,350 |
| Operating expenses | 5,181 | 4,589 | 15,382 | 13,716 |
| Operating income | 1,170 | 1,108 | 5,004 | 4,675 |
| Other net benefit credits | 52 | 68 | 143 | 201 |
| Interest income | 10 | 12 | 34 | 61 |
| Interest expense | (237) | (154) | (725) | (469) |
| Investment income | 15 | 1 | 27 | 3 |
| Income before income taxes | 1,010 | 1,035 | 4,483 | 4,471 |
| Income tax expense | 253 | 283 | 1,083 | 1,155 |
| Net income before non-controlling interests | 757 | 752 | 3,400 | 3,316 |
| Less: Net income attributable to non-controlling interests | 10 | 5 | 61 | 44 |
| Net income attributable to the Company | $747 | $747 | $3,339 | $3,272 |
| Net income per share attributable to the Company: | ||||
| – Basic | $1.52 | $1.52 | $6.79 | $6.65 |
| – Diluted | $1.51 | $1.51 | $6.75 | $6.59 |
| Average number of shares outstanding: | ||||
| – Basic | 491 | 492 | 492 | 492 |
| – Diluted | 494 | 496 | 495 | 496 |
| Shares outstanding at September 30, | 490 | 491 | 490 | 491 |
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