Filing Flows › Marsh & McLennan Companies (MRSH) › Q3 2026 › vs Q3 2025
Marsh & McLennan Companies (MRSH) Q3 2026 vs Q3 2025 (year over year)
Marsh & McLennan Companies's revenue rose $512M (+8%) from $6.4B in Q3 2025 to $6.9B in Q3 2026. Operating margin 17.7% against 18.4% (-0.7 pts).
Marsh & McLennan Companies, Q3 2026: revenue $6.9B (+8% year over year), operating margin 17.7%, net earnings $808M, operating cash flow $1.5B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 17.7% | 18.4% | -0.7 pts |
| Net margin | 11.8% | 11.8% | +0.0 pts |
| Free cash flow margin | 20.4% | 31.6% | -11.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $6.9B | $6.4B | $512M | +8% |
| Operating profit | $1.2B | $1.2B | $45.0M | +4% |
| Costs & expenses | $5.6B | $5.2B | $467M | +9% |
| Pre-tax earnings | $1.0B | $1.0B | $23.0M | +2% |
| Other expense, net | $182M | $160M | $22.0M | +14% |
| Net earnings | $808M | $747M | $61.0M | +8% |
| Minority interests | $4.0M | $10.0M | −$6.0M | -60% |
| Income tax | $221M | $253M | −$32.0M | -13% |
| Depreciation & amortization | $89.0M | $224M | −$135M | -60% |
| Share-based compensation | $94.0M | $95.0M | −$1.0M | -1% |
| Working capital & other | $487M | $1.0B | −$529M | -52% |
| Operating cash flow | $1.5B | $2.1B | −$604M | -29% |
| Free cash flow (OCF − capex) | $1.4B | $2.0B | −$613M | -30% |
| Capital expenditures | $81.0M | $72.0M | $9.0M | +12% |
Questions
How much did Marsh & McLennan Companies's revenue grow year over year in Q3 2026?
Marsh & McLennan Companies's revenue rose $512M (+8%) from $6.4B in Q3 2025 to $6.9B in Q3 2026. Operating margin 17.7% against 18.4% (-0.7 pts).