Filing Flows › Marsh & McLennan Companies (MRSH) › Q1 2025
Marsh & McLennan Companies (MRSH) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 17, 2025
Marsh & McLennan Companies (MRSH) reported revenue of $7.1B for the first quarter 2025 (Q1 2025), +9% from a year earlier and +16% from the quarter before. Operating margin was 28.4%, net earnings $1.4B (19.6% of revenue).
Marsh & McLennan Companies, Q1 2025: revenue $7.1B (+9% year over year), operating margin 28.4%, net earnings $1.4B, operating cash flow −$622M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.1B | +16% | +9% |
| Operating profit | $2.0B | +76% | +4% |
| Net earnings | $1.4B | +75% | -1% |
| Operating cash flow | −$622M | — | — |
What changed
Revenue was $7.1B in Q1 2025, up 9% year over year and up 16% from the previous quarter.
Operating profit was $2.0B, a 28.4% margin (down 1.3 points year over year). Of the extra revenue versus a year earlier, 14% reached operating profit, below the 30% margin then. Total costs grew 11% against revenue growth of 9%. Net earnings were $1.4B, down 1% year over year. The effective tax rate was 22.7%.
Operating cash flow was −$0.62B. Non-cash charges added back $0.23B of depreciation and amortization and $0.11B of share-based compensation. Working capital and other items used $2.4B. Capital expenditures of $0.06B exceeded it, leaving free cash flow of −$0.68B.
Questions
What was Marsh & McLennan Companies' revenue in the first quarter 2025?
Marsh & McLennan Companies (MRSH) reported revenue of $7.1B for the first quarter 2025 (Q1 2025), +9% from a year earlier and +16% from the quarter before.
Was Marsh & McLennan Companies profitable in the first quarter 2025?
Operating profit was $2.0B (28.4% of revenue) and net earnings $1.4B.