Filing Flows › Marsh & McLennan Companies (MRSH) › Q2 2026 › vs Q1 2026
Marsh & McLennan Companies (MRSH) Q2 2026 vs Q1 2026 (quarter over quarter)
Marsh & McLennan Companies's revenue fell $193M (-3%) from $7.6B in Q1 2026 to $7.4B in Q2 2026. Operating margin 25.6% against 23.1% (+2.6 pts).
Marsh & McLennan Companies, Q2 2026: revenue $7.4B (+6% year over year), operating margin 25.6%, net earnings $1.3B, operating cash flow $1.5B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 25.6% | 23.1% | +2.6 pts |
| Net margin | 17.1% | 15.1% | +2.0 pts |
| Free cash flow margin | 19.6% | -9.9% | +29.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $7.4B | $7.6B | −$193M | -3% |
| Operating profit | $1.9B | $1.8B | $145M | +8% |
| Costs & expenses | $5.5B | $5.8B | −$338M | -6% |
| Pre-tax earnings | $1.7B | $1.6B | $121M | +8% |
| Other expense, net | $197M | $173M | $24.0M | +14% |
| Net earnings | $1.3B | $1.1B | $120M | +10% |
| Minority interests | $25.0M | $40.0M | −$15.0M | -38% |
| Income tax | $411M | $395M | $16.0M | +4% |
| Depreciation & amortization | $90.0M | $227M | −$137M | -60% |
| Share-based compensation | $96.0M | $139M | −$43.0M | -31% |
| Working capital & other | $71.0M | −$2.2B | $2.3B | — |
| Operating cash flow | $1.5B | −$688M | $2.2B | — |
| Free cash flow (OCF − capex) | $1.5B | −$750M | $2.2B | — |
| Capital expenditures | $72.0M | $62.0M | $10.0M | +16% |
Questions
How much did Marsh & McLennan Companies's revenue grow quarter over quarter in Q2 2026?
Marsh & McLennan Companies's revenue fell $193M (-3%) from $7.6B in Q1 2026 to $7.4B in Q2 2026. Operating margin 25.6% against 23.1% (+2.6 pts).