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Marsh & McLennan Companies vs Arthur J. Gallagher: MRSH and AJG compared
Marsh & McLennan Companies is the larger company: $6.9B of revenue in its latest quarter (Q3 2026) against $4.0B for Arthur J. Gallagher (Q3 2026). Arthur J. Gallagher is growing faster (+18% against +8% a year earlier). Marsh & McLennan Companies is more profitable, with an operating margin of 17.7% against 13.0%.
Where the money goes: MRSH and AJG
Marsh & McLennan Companies (MRSH) · Q3 2026
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 follows the revenue to costs, profit and cash.
Arthur J. Gallagher (AJG) · Q3 2026
Arthur J. Gallagher, Q3 2026: revenue $4.0B (+18% year over year), operating margin 13.0%, net earnings $406M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Marsh & McLennan Companies (MRSH) | Arthur J. Gallagher (AJG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $6.9B | $4.0B |
| Revenue growth, Y/Y | +8% | +18% |
| Operating margin | 17.7% | 13.0% |
| Net earnings | $808M | $406M |
| Net margin | 11.8% | 10.2% |
| Operating cash flow | $1.5B | $1.3B |
| Free cash flow | $1.4B | $1.3B |
| Market value | $98.1B | $73.9B |
| P/E | 24.5× | 43.3× |
| Analysts’ mean target | $206.62 | $300.11 |
Questions
Which is bigger, Marsh & McLennan Companies or Arthur J. Gallagher?
Marsh & McLennan Companies is the larger company: $6.9B of revenue in its latest quarter (Q3 2026) against $4.0B for Arthur J. Gallagher (Q3 2026).
Is Marsh & McLennan Companies or Arthur J. Gallagher growing faster?
Arthur J. Gallagher is growing faster (+18% against +8% a year earlier).
Which is more profitable, Marsh & McLennan Companies or Arthur J. Gallagher?
Marsh & McLennan Companies is more profitable, with an operating margin of 17.7% against 13.0%.
More: Marsh & McLennan Companies earnings · how Marsh & McLennan Companies makes money · Arthur J. Gallagher earnings · how Arthur J. Gallagher makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 15, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.