Marsh & McLennan (MRSH)
Market Price (5/18/2026): $161.06 | Market Cap: $78.0 BilSector: Financials | Industry: Insurance Brokers
Marsh & McLennan (MRSH)
Market Price (5/18/2026): $161.06Market Cap: $78.0 BilSector: FinancialsIndustry: Insurance Brokers
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.3%, Dividend Yield is 2.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 6.3% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%, CFO LTM is 5.2 Bil, FCF LTM is 4.9 Bil Stock buyback supportStock Buyback 3Y Total is 4.5 Bil Low stock price volatilityVol 12M is 23% Megatrend and thematic driversMegatrends include Sustainable Finance, Fintech & Digital Payments, and Cybersecurity. Themes include ESG Investing & Green Bonds, Show more. | Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -85% | Key risksMRSH key risks include [1] significant financial exposure from errors and omissions claims inherent in its professional services business. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.3%, Dividend Yield is 2.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 6.3% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%, CFO LTM is 5.2 Bil, FCF LTM is 4.9 Bil |
| Stock buyback supportStock Buyback 3Y Total is 4.5 Bil |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Sustainable Finance, Fintech & Digital Payments, and Cybersecurity. Themes include ESG Investing & Green Bonds, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -85% |
| Key risksMRSH key risks include [1] significant financial exposure from errors and omissions claims inherent in its professional services business. |
Qualitative Assessment
AI Analysis | Feedback
1. A significant $425 million litigation charge negatively impacted GAAP earnings in Q1 2026. Despite reporting 8% adjusted EPS growth and beating analyst estimates, Marsh & McLennan's GAAP operating income decreased by 12% and GAAP EPS fell by 15% year-over-year due to a substantial one-time charge related to Greensill litigation. This company-specific financial impact created downward pressure on the stock.
2. The broader insurance brokerage sector experienced a significant downturn in Q1 2026, with softening market conditions and pricing pressures. The insurance brokerage sector, which includes Marsh & McLennan, collectively declined by 16.3% in Q1 2026, underperforming the broader market. This was exacerbated by a global insurance market characterized by softer pricing across several classes, and a notable 14.7% average fall in risk-adjusted global property-catastrophe reinsurance rates-on-line during January renewals. These industry-wide headwinds, along with lower fiduciary interest income, contributed to a more challenging operating environment for Marsh & McLennan.
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Stock Movement Drivers
Fundamental Drivers
The -14.0% change in MRSH stock from 1/31/2026 to 5/17/2026 was primarily driven by a -10.8% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5172026 | Change |
|---|---|---|---|
| Stock Price ($) | 187.23 | 161.05 | -14.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 26,453 | 27,517 | 4.0% |
| Net Income Margin (%) | 15.6% | 14.3% | -8.6% |
| P/E Multiple | 22.3 | 19.9 | -10.8% |
| Shares Outstanding (Mil) | 491 | 484 | 1.4% |
| Cumulative Contribution | -14.0% |
Market Drivers
1/31/2026 to 5/17/2026| Return | Correlation | |
|---|---|---|
| MRSH | -14.0% | |
| Market (SPY) | 7.1% | -9.8% |
| Sector (XLF) | -3.9% | 32.1% |
Fundamental Drivers
The -8.7% change in MRSH stock from 10/31/2025 to 5/17/2026 was primarily driven by a -8.6% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 5172026 | Change |
|---|---|---|---|
| Stock Price ($) | 176.34 | 161.05 | -8.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 26,453 | 27,517 | 4.0% |
| Net Income Margin (%) | 15.6% | 14.3% | -8.6% |
| P/E Multiple | 21.0 | 19.9 | -5.3% |
| Shares Outstanding (Mil) | 491 | 484 | 1.4% |
| Cumulative Contribution | -8.7% |
Market Drivers
10/31/2025 to 5/17/2026| Return | Correlation | |
|---|---|---|
| MRSH | -8.7% | |
| Market (SPY) | 9.0% | -9.0% |
| Sector (XLF) | -1.6% | 36.3% |
Fundamental Drivers
The -27.2% change in MRSH stock from 4/30/2025 to 5/17/2026 was primarily driven by a -26.3% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5172026 | Change |
|---|---|---|---|
| Stock Price ($) | 221.23 | 161.05 | -27.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 25,046 | 27,517 | 9.9% |
| Net Income Margin (%) | 16.1% | 14.3% | -11.6% |
| P/E Multiple | 26.9 | 19.9 | -26.3% |
| Shares Outstanding (Mil) | 492 | 484 | 1.7% |
| Cumulative Contribution | -27.2% |
Market Drivers
4/30/2025 to 5/17/2026| Return | Correlation | |
|---|---|---|
| MRSH | -27.2% | |
| Market (SPY) | 34.8% | 3.0% |
| Sector (XLF) | 6.4% | 42.6% |
Fundamental Drivers
The -6.2% change in MRSH stock from 4/30/2023 to 5/17/2026 was primarily driven by a -24.9% change in the company's P/E Multiple.| (LTM values as of) | 4302023 | 5172026 | Change |
|---|---|---|---|
| Stock Price ($) | 171.75 | 161.05 | -6.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 21,095 | 27,517 | 30.4% |
| Net Income Margin (%) | 15.2% | 14.3% | -6.4% |
| P/E Multiple | 26.5 | 19.9 | -24.9% |
| Shares Outstanding (Mil) | 495 | 484 | 2.3% |
| Cumulative Contribution | -6.2% |
Market Drivers
4/30/2023 to 5/17/2026| Return | Correlation | |
|---|---|---|
| MRSH | -6.2% | |
| Market (SPY) | 84.7% | 24.3% |
| Sector (XLF) | 61.7% | 46.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MRSH Return | 51% | -3% | 16% | 14% | -11% | -13% | 49% |
| Peers Return | 41% | -7% | 16% | 26% | -9% | -25% | 30% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| MRSH Win Rate | 75% | 42% | 67% | 67% | 58% | 20% | |
| Peers Win Rate | 67% | 40% | 55% | 70% | 50% | 4% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| MRSH Max Drawdown | -8% | -19% | -12% | -10% | -27% | -16% | |
| Peers Max Drawdown | -13% | -26% | -16% | -15% | -29% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AON, AJG, WTW, BRO, ACN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/15/2026 (YTD)
How Low Can It Go
| Event | MRSH | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -11.4% | -6.7% |
| % Gain to Breakeven | 12.9% | 7.1% |
| Time to Breakeven | 33 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -13.1% | -24.5% |
| % Gain to Breakeven | 15.1% | 32.4% |
| Time to Breakeven | 50 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.3% | -33.7% |
| % Gain to Breakeven | 54.5% | 50.9% |
| Time to Breakeven | 134 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.6% | -12.2% |
| % Gain to Breakeven | 13.1% | 13.9% |
| Time to Breakeven | 150 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -13.7% | -17.9% |
| % Gain to Breakeven | 15.9% | 21.8% |
| Time to Breakeven | 18 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -16.8% | -15.4% |
| % Gain to Breakeven | 20.2% | 18.2% |
| Time to Breakeven | 88 days | 125 days |
In The Past
Marsh & McLennan's stock fell -7.9% during the 2025 US Tariff Shock. Such a loss loss requires a 8.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | MRSH | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -35.3% | -33.7% |
| % Gain to Breakeven | 54.5% | 50.9% |
| Time to Breakeven | 134 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -30.4% | -53.4% |
| % Gain to Breakeven | 43.6% | 114.4% |
| Time to Breakeven | 220 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -21.2% | -8.6% |
| % Gain to Breakeven | 26.8% | 9.5% |
| Time to Breakeven | 326 days | 47 days |
In The Past
Marsh & McLennan's stock fell -7.9% during the 2025 US Tariff Shock. Such a loss loss requires a 8.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Marsh & McLennan (MRSH)
AI Analysis | Feedback
It's like a global professional services firm, similar to Deloitte or Accenture, but with a strong focus on corporate risk, insurance, and HR strategy.
Imagine if a leading management consulting firm like McKinsey also ran a massive global insurance brokerage and risk advisory business.
AI Analysis | Feedback
- Risk Management Services: Provides advice, transfer solutions, and control/mitigation strategies for various risks.
- Insurance and Reinsurance Broking: Facilitates the placement of insurance and reinsurance coverage for clients.
- Catastrophe and Financial Modeling: Offers analytical services to assess and model financial and catastrophic risks.
- Insurance Program Management: Manages comprehensive insurance programs for businesses, public entities, and other organizations.
- Health, Wealth, and Career Consulting: Delivers consulting services and products related to employee benefits, retirement planning, and talent management.
- Specialized Management, Economic, and Brand Consulting: Provides expert advice on various management challenges, economic analysis, and brand strategy.
AI Analysis | Feedback
Marsh & McLennan (MRSH) primarily provides professional services to other companies and organizations worldwide.
Due to the confidential nature of its client relationships in risk, insurance, and consulting services, Marsh & McLennan does not publicly disclose the names of its specific major customers. Its client base is diverse and global.
However, based on the company's description, its services are provided to a wide range of entities, including:
- Businesses
- Public entities
- Insurance companies
- Associations
- Professional services organizations
AI Analysis | Feedback
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AI Analysis | Feedback
John Q. Doyle, President and Chief Executive Officer
John Q. Doyle has served as President and Chief Executive Officer of Marsh McLennan since January 1, 2023. He joined Marsh McLennan in 2016 as President of Marsh, the firm’s global insurance broker and risk advisor, and subsequently led Marsh as President and CEO from 2017 to 2021. Prior to his current role, he was Group President and Chief Operating Officer, responsible for the strategy and operational objectives of the company's four global businesses. Doyle has over 40 years of leadership experience in professional and financial services. He began his career at AIG, where he spent nearly three decades and held several executive-level positions, including Chief Executive Officer of AIG Commercial Insurance, President and CEO of AIG Property and Casualty in the US, and President of National Union Fire Insurance Company and American Home Assurance Company.
Mark McGivney, Senior Vice President and Chief Financial Officer
Mark McGivney has been the Senior Vice President and Chief Financial Officer of Marsh McLennan since January 1, 2016. He joined Marsh McLennan in 2007. Before his current role, he served as Chief Financial Officer of Marsh and Chief Financial Officer and Chief Operating Officer of Mercer. His prior experience includes senior finance roles at The Hanover Insurance Group, where he was SVP Finance, Treasurer, and CFO of Property/Casualty business from 1997 to 2007. He also worked in investment banking at Merrill Lynch and Salomon Brothers and was a Certified Public Accountant with Price Waterhouse.
Dean Klisura, President and Chief Executive Officer, Guy Carpenter, and Vice Chair, Marsh McLennan
Dean Klisura is President and Chief Executive Officer of Guy Carpenter, a Marsh business, and Vice Chair of Marsh McLennan, a role he assumed effective January 1, 2022, having previously served as President of Guy Carpenter. He joined the company in 1993. Prior to joining Guy Carpenter in 2020, he held a number of executive roles at Marsh (now Marsh Risk), including President of Global Placement, Specialties and Advisory Services. Klisura began his career with Chubb.
Martine Ferland, President and Chief Executive Officer of Mercer, and Vice Chair, Marsh McLennan
Martine Ferland is President and Chief Executive Officer of Mercer, a global leader in health, wealth, and career consulting, and also serves as Vice Chair of Marsh McLennan. She was named Mercer's President and CEO in 2019. Prior to this, she served as Mercer's Group President, responsible for leading Regions and Global Business Solutions, and as President of Mercer's Europe and Pacific Region. Before joining Mercer in 2011, Ferland spent 25 years with Willis Towers Watson (and its predecessor firms), holding various leadership positions in North America and Asia.
Paul Beswick, Senior Vice President and Chief Information and Operations Officer
Paul Beswick is the Senior Vice President and Chief Information and Operations Officer of Marsh McLennan. He oversees Business and Client Services, which integrates the firm's Operations, Technology, Innovation, and Data teams globally. Before his current role, Paul held various positions at Oliver Wyman, a Marsh McLennan business, including Chief Information Officer, Deputy CIO, and Global Head of Oliver Wyman Labs and the Digital Practice, where he worked for over two decades across diverse sectors.
AI Analysis | Feedback
The key risks to Marsh & McLennan's business include:- Macroeconomic and Geopolitical Risks: The company faces significant risks from ongoing global economic uncertainty, including inflation, recessionary pressures, and currency volatility. Geopolitical tensions, such as the war in Ukraine and conflicts in the Middle East, contribute to this instability, potentially reducing demand for Marsh & McLennan's services and impacting its revenue across its Risk and Insurance Services and Consulting segments.
- Cybersecurity and Data Protection Risks: Marsh & McLennan is exposed to increasing and more sophisticated cyberattacks and IT disruptions. Given its role in handling sensitive client data, a failure to maintain robust cybersecurity measures could lead to data breaches, significant financial losses, and severe reputational damage. The rapid integration of technologies like AI further escalates these digital risks.
- Regulatory Compliance Risks: Operating as a global professional services firm, Marsh & McLennan is subject to a complex and constantly evolving landscape of regulations across numerous international jurisdictions. Non-compliance with these extensive regulations, which include trade sanctions and anti-corruption laws, could result in substantial legal penalties and harm to the company's reputation.
AI Analysis | Feedback
The clear emerging threat for Marsh & McLennan is the accelerating adoption and sophistication of **artificial intelligence (AI) and automation** across professional services, particularly in the risk, insurance, and consulting sectors.
This threat manifests in several ways:
- Disintermediation: AI-powered platforms and tools can automate tasks traditionally performed by human brokers or consultants, such as data analysis, risk assessment, policy comparison, and generation of routine advice. This could reduce the need for human intermediaries in certain segments of their business.
- Increased Competition and Pricing Pressure: New entrants, leveraging AI and automation, can offer more efficient, often lower-cost solutions for specific risk management, insurance broking, or consulting needs. This enables agile competitors to challenge established firms by delivering value more quickly and at a reduced expense.
- Client Self-Service and Internalization: As AI tools become more powerful and accessible, clients may increasingly use them to perform internal risk management functions, strategic planning analyses, or HR policy development. This reduces their reliance on external consulting and advisory services for tasks that can be automated or augmented by AI.
- Shift in Value Proposition: The core value of professional services firms is shifting from information asymmetry and manual analysis to higher-order strategic insight, complex problem-solving, and relationship management. Firms that fail to adapt their service models and integrate AI effectively risk falling behind those that can deliver a new blend of automated efficiency and human expertise.
This trend parallels the disruption seen in other industries, where new technologies fundamentally altered service delivery and cost structures, much like Netflix to Blockbuster or Uber to traditional taxis, by creating more efficient, accessible, and often more personalized alternatives.
AI Analysis | Feedback
Marsh & McLennan Companies, Inc. (MRSH) operates in significant global addressable markets across its Risk and Insurance Services and Consulting segments.
Risk and Insurance Services
- Insurance Brokerage: The global insurance brokerage market was valued at approximately USD 287.40 billion in 2023 and is projected to reach USD 524.80 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2030. North America held a dominant share of 30.50% of the global revenue in 2023.
- Reinsurance: The global reinsurance market was valued at approximately USD 614.16 billion in 2024 and is poised to grow to USD 1571.04 billion by 2033, exhibiting a CAGR of 11% during the forecast period (2026–2033). North America is a mature reinsurance market and accounted for 34% of the market share.
- Risk Management Services: The global risk management market size was valued at USD 14.9 billion in 2024 and is projected to reach approximately USD 58.8 billion by 2034, growing at a CAGR of 15% between 2025 and 2034. North America dominated this market with over 42.0% revenue share in 2024.
Consulting Services
- Management Consulting: The global management consulting services market size was valued at USD 466.68 billion in 2024 and is projected to grow to USD 721.60 billion by 2032, exhibiting a CAGR of 5.63%. North America dominated the global management consulting services market with a market share of 33.51% in 2024.
- Health & Benefits Consulting: The global benefits consulting service market size reached approximately USD 45 billion in 2023 and is projected to grow to USD 74 billion by 2032, reflecting a CAGR of 6.2%. Additionally, the global healthcare consulting services market size was estimated at USD 28.19 billion in 2023 and is projected to reach USD 51.98 billion by 2030, with a CAGR of 9.33% from 2024 to 2030. North America holds the largest share of the benefits consulting service market, approximately USD 20 billion in 2023. For healthcare consulting services, North America accounted for 38.14% share in 2023.
- Wealth Management Consulting: The global wealth management market was valued at $1.25 trillion in 2020 and is projected to reach $3.43 trillion by 2030, growing at a CAGR of 10.7% from 2021 to 2030. North America dominated this market in 2020.
- Career (Human Capital) Consulting: The global human resource consulting services market is expected to reach a valuation of US$ 79.03 billion in 2025 and is forecast to reach USD 118.76 billion by 2031, at a 7.02% CAGR over 2026-2031. North America led with 39.88% of the human resource consulting market share in 2025.
AI Analysis | Feedback
Marsh & McLennan (MRSH) is anticipated to drive future revenue growth over the next two to three years through several key strategies:
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Sustained Organic Growth: The company consistently forecasts mid-single-digit or better underlying revenue growth across both its Risk & Insurance Services and Consulting segments. This indicates continued strong demand for its core offerings, including insurance and reinsurance broking, risk management, and health, wealth, and career consulting services.
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Strategic Acquisitions: Marsh & McLennan has a proven track record of disciplined acquisitions to expand its scale, capabilities, and market reach. A recent significant example is the announced $7.75 billion acquisition of McGriff, which is expected to bolster its offerings and market presence.
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Rising Demand for Specialized Advice: Global complexities, including heightened geopolitical and cyber risks, as well as evolving challenges in strategy and human capital, continue to drive client demand for Marsh & McLennan's expert advice and solutions. This persistent need for specialized guidance fuels growth in its advisory services.
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Innovation and Digital Solutions: Investments in emerging areas such as data analytics and digital solutions are expected to contribute to revenue growth. By innovating and enhancing its technological capabilities, Marsh & McLennan can offer new and more efficient services to clients.
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Operating Efficiencies and Margin Expansion: Programs like the "Thrive" initiative, designed to deliver approximately $400 million in savings over three years, are crucial. While primarily focused on cost reduction and margin expansion, these efficiencies free up capital for reinvestment in growth initiatives, enhance competitiveness, and support overall revenue momentum.
AI Analysis | Feedback
Share Repurchases
- Marsh McLennan authorized a new $6 billion share repurchase program in November 2025, which supersedes any prior authorizations.
- In 2025, the company executed $2.0 billion in share repurchases, reducing the outstanding share count by 10.1 million shares.
- In 2022, Marsh McLennan completed $1.9 billion of share repurchases, which was the largest annual amount in its history at that time.
Share Issuance
- The number of shares outstanding has generally decreased over the last few years, from approximately 0.50 billion in 2021 to 487 million at the end of 2025, indicating that repurchases have offset any issuances.
Inbound Investments
- Norges Bank acquired a new stake in Marsh & McLennan Companies valued at approximately $1.33 billion in the second quarter of 2025.
- Capital World Investors increased its holdings in Marsh & McLennan Companies by 0.5% during the third quarter of 2025, with their stake valued at approximately $3.57 billion.
Outbound Investments
- Marsh McLennan completed 5 acquisitions in 2025 and 2 acquisitions in 2024.
- A significant outbound investment was the acquisition of McGriff for $7.75 billion in 2024.
- In 2023, Marsh McLennan acquired Trideo Systems, focusing on technology solutions for insurance and risk management, and The Graham Company, an insurance brokerage.
Capital Expenditures
- Marsh & McLennan's capital expenditures were $470 million in 2022, $416 million in 2023, and an estimated $316 million in 2024.
- Expected capital expenditures are $291 million for 2025, and forecasted to be $396.4 million for 2026.
- The company's "Thrive program," launched in 2025, includes investments in AI, digital infrastructure, and talent, and is expected to generate approximately $400 million in savings over three years.
Trade Ideas
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | EEFT | Euronet Worldwide | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04242026 | HOMB | Home BancShares | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 1.5% | 1.5% | 0.0% |
| 03312026 | HBAN | Huntington Bancshares | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 7.1% | 7.1% | 0.0% |
| 03312026 | NP | Neptune Insurance | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 3.9% | 3.9% | 0.0% |
| 03272026 | JKHY | Jack Henry & Associates | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -4.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 184.38 |
| Mkt Cap | 59.7 |
| Rev LTM | 16,229 |
| Op Inc LTM | 3,836 |
| FCF LTM | 2,680 |
| FCF 3Y Avg | 2,633 |
| CFO LTM | 2,893 |
| CFO 3Y Avg | 2,835 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.6% |
| Rev Chg 3Y Avg | 10.4% |
| Rev Chg Q | 8.4% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 9.6% |
| Op Inc Chg 3Y Avg | 10.5% |
| Op Mgn LTM | 22.5% |
| Op Mgn 3Y Avg | 22.3% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 18.6% |
| CFO/Rev 3Y Avg | 18.9% |
| FCF/Rev LTM | 17.6% |
| FCF/Rev 3Y Avg | 17.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 59.7 |
| P/S | 2.9 |
| P/Op Inc | 12.3 |
| P/EBIT | 10.9 |
| P/E | 16.7 |
| P/CFO | 14.0 |
| Total Yield | 7.3% |
| Dividend Yield | 1.3% |
| FCF Yield 3Y Avg | 4.3% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -12.2% |
| 3M Rtn | -10.2% |
| 6M Rtn | -22.3% |
| 12M Rtn | -35.0% |
| 3Y Rtn | -5.0% |
| 1M Excs Rtn | -17.6% |
| 3M Excs Rtn | -18.6% |
| 6M Excs Rtn | -29.8% |
| 12M Excs Rtn | -58.2% |
| 3Y Excs Rtn | -84.9% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Risk and Insurance Services | 15,395 | 14,089 | 12,645 | 12,085 | 10,337 |
| Consulting | 9,133 | 8,709 | 8,139 | 7,789 | 6,976 |
| Corporate/Eliminations | -70 | -62 | -64 | -54 | -89 |
| Total | 24,458 | 22,736 | 20,720 | 19,820 | 17,224 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Risk and Insurance Services | 4,365 | 3,945 | 3,089 | 3,080 | 2,346 |
| Consulting | 1,770 | 1,666 | 1,553 | 1,504 | 994 |
| Corporate/Eliminations | -318 | -329 | -362 | -272 | -274 |
| Total | 5,817 | 5,282 | 4,280 | 4,312 | 3,066 |
Price Behavior
| Market Price | $161.05 | |
| Market Cap ($ Bil) | 77.9 | |
| First Trading Date | 12/30/1987 | |
| Distance from 52W High | -30.1% | |
| 50 Days | 200 Days | |
| DMA Price | $171.14 | $183.91 |
| DMA Trend | down | down |
| Distance from DMA | -5.9% | -12.4% |
| 3M | 1YR | |
| Volatility | 26.7% | 23.1% |
| Downside Capture | -2.93 | 24.89 |
| Upside Capture | -28.77 | -22.73 |
| Correlation (SPY) | -6.0% | 2.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.10 | 0.03 | -0.08 | -0.07 | 0.12 | 0.32 |
| Up Beta | -0.26 | -0.21 | -0.21 | -0.29 | 0.08 | 0.37 |
| Down Beta | -8.27 | -0.02 | 0.59 | 0.23 | 0.10 | 0.33 |
| Up Capture | -1% | -13% | -23% | -11% | -3% | 6% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 10 | 17 | 33 | 59 | 122 | 405 |
| Down Capture | 150% | 46% | -16% | -4% | 41% | 55% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 12 | 26 | 31 | 66 | 130 | 347 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRSH | |
|---|---|---|---|---|
| MRSH | -26.3% | 23.2% | -1.38 | - |
| Sector ETF (XLF) | 1.9% | 14.5% | -0.09 | 42.7% |
| Equity (SPY) | 27.4% | 12.1% | 1.71 | 2.4% |
| Gold (GLD) | 42.5% | 26.8% | 1.30 | -17.0% |
| Commodities (DBC) | 45.4% | 18.5% | 1.88 | -1.6% |
| Real Estate (VNQ) | 11.5% | 13.5% | 0.56 | 19.4% |
| Bitcoin (BTCUSD) | -23.7% | 41.8% | -0.54 | -1.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRSH | |
|---|---|---|---|---|
| MRSH | 4.8% | 20.0% | 0.16 | - |
| Sector ETF (XLF) | 8.1% | 18.6% | 0.32 | 58.0% |
| Equity (SPY) | 13.6% | 17.1% | 0.63 | 50.3% |
| Gold (GLD) | 19.4% | 17.9% | 0.88 | -0.4% |
| Commodities (DBC) | 10.9% | 19.4% | 0.45 | 5.4% |
| Real Estate (VNQ) | 2.9% | 18.8% | 0.06 | 48.7% |
| Bitcoin (BTCUSD) | 7.2% | 55.9% | 0.34 | 16.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRSH | |
|---|---|---|---|---|
| MRSH | 11.7% | 20.8% | 0.50 | - |
| Sector ETF (XLF) | 12.6% | 22.2% | 0.52 | 64.6% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 62.8% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 1.5% |
| Commodities (DBC) | 8.3% | 17.9% | 0.38 | 17.6% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.21 | 56.1% |
| Bitcoin (BTCUSD) | 67.4% | 66.9% | 1.06 | 11.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/16/2026 | 4.4% | 0.3% | -8.5% |
| 1/29/2026 | 6.0% | 7.0% | 5.3% |
| 10/16/2025 | -8.5% | -7.1% | -9.8% |
| 7/17/2025 | -0.4% | -1.0% | -1.9% |
| 4/17/2025 | -4.9% | -5.3% | 0.0% |
| 1/30/2025 | 1.1% | 3.2% | 8.9% |
| 10/17/2024 | -0.4% | -1.9% | -2.8% |
| 7/18/2024 | -1.5% | -1.4% | 0.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 16 | 16 | 18 |
| # Negative | 9 | 9 | 7 |
| Median Positive | 2.3% | 2.3% | 5.4% |
| Median Negative | -3.8% | -1.9% | -6.5% |
| Max Positive | 6.0% | 7.0% | 13.2% |
| Max Negative | -8.5% | -7.1% | -12.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/16/2026 | 10-Q |
| 12/31/2025 | 02/09/2026 | 10-K |
| 09/30/2025 | 10/16/2025 | 10-Q |
| 06/30/2025 | 07/17/2025 | 10-Q |
| 03/31/2025 | 04/17/2025 | 10-Q |
| 12/31/2024 | 02/10/2025 | 10-K |
| 09/30/2024 | 10/17/2024 | 10-Q |
| 06/30/2024 | 07/18/2024 | 10-Q |
| 03/31/2024 | 04/18/2024 | 10-Q |
| 12/31/2023 | 02/12/2024 | 10-K |
| 09/30/2023 | 10/19/2023 | 10-Q |
| 06/30/2023 | 07/20/2023 | 10-Q |
| 03/31/2023 | 04/20/2023 | 10-Q |
| 12/31/2022 | 02/13/2023 | 10-K |
| 09/30/2022 | 10/20/2022 | 10-Q |
| 06/30/2022 | 07/21/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Jones, John Jude | Chief Marketing Officer | Direct | Sell | 3122026 | 173.61 | 2,362 | 410,067 | 1,385,061 | Form |
| 2 | Doyle, John Q | President and CEO | Direct | Sell | 3052026 | 183.30 | 16,655 | 3,052,862 | 21,411,460 | Form |
| 3 | Studer, Nicholas Mark | President and CEO of OWG | Direct | Sell | 3042026 | 184.03 | 3,837 | 706,123 | 5,987,597 | Form |
| 4 | Doyle, John Q | President and CEO | Direct | Sell | 12022025 | 182.22 | 21,079 | 3,841,015 | 15,977,236 | Form |
| 5 | Doyle, John Q | President and CEO | Direct | Sell | 9032025 | 205.65 | 21,079 | 4,334,896 | 18,031,602 | Form |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Insurance Brokers Resources |
| Insurance Business America |
| A.M. Best |
| National Underwriter |
| Insurance News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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