Marsh & McLennan Companies, Inc. (MRSH)

FairStock Score: 57/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for a durable business that earns good returns and can be bought at a sensible price. Marsh & McLennan is a large advisory and insurance-broking firm with 95,000 employees, and the filed record shows steady progress: in fiscal 2023 (year ended 2023-12-31), revenue was $22.7 billion, net income $3.8 billion, and diluted EPS $7.53; in fiscal 2024 (year ended 2024-12-31), revenue was $24.5 billion, net income $4.1 billion, and EPS $8.18; in fiscal 2025 (year ended 2025-12-31), revenue was $27.0 billion, net income $4.2 billion, and EPS $8.43. In fiscal Q3 2026 (quarter ended 2026-09-30), revenue was $6.9 billion, net income $808.0 million, and diluted EPS $1.69, versus $6.4 billion, $747.0 million, and $1.51 in fiscal Q3 2025 (quarter ended 2025-09-30). That is a solid, steady franchise with a low beta of 0.58 and a reported ROE of 25.90%. But quality is not the same as value. At the 2026-10-26 close of $194.72, FairStock shows a P/E of 23.78, P/B of 6.13, PEG of 5.31, EV/EBITDA of 15.76, and a Graham Number of $75.23, leaving a margin of safety of -162.50%. The 4.5% FCF yield is respectable but not cheap. Debt/equity is 1.45, ROCE is 7.24%, the Piotroski score is 5/9, and the Altman Z-score is 2.16. FairStock classifies it as a STALWART - steady growth, with profit 15.6% a year over five years and revenue 9.4%. I see a good business, but the price already reflects much of that steadiness. I would want more protection before calling it a bargain.

In plain English: Marsh & McLennan provides risk, insurance and advisory services to businesses around the world. The business looks strong and steadily profitable, with growing sales and profits in the filed results. At the latest close, however, the stock price looks expensive compared with the company's profits and accounting value.

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Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-09-30) · fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer