Marsh & Mclennan Companies (MRSH) Cost of Revenue (2009 - 2026)
Marsh & Mclennan Companies' (MRSH) quarterly Cost of Revenue came in at $1.4 billion in Q2 2026, up 9.12% on a YoY basis from $1.2 billion in Q2 2025, and down 20.37% quarter-over-quarter from $1.7 billion in Q1 2026.
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Analysis
Marsh & Mclennan Companies (MRSH) Cost of Revenue (2009 - 2026) Analysis & Trends
Marsh & Mclennan Companies (MRSH) has reported Cost of Revenue for 18 consecutive years, with $1.4 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Cost of Revenue rose 9.12% year-over-year to $1.4 billion; the trailing twelve-month figure through Jun 2026 stood at $5.8 billion (up 18.46% YoY), and the FY2025 full-year result was $5.2 billion, up 11.54% from the prior year.
- Cost of Revenue declined to $1.4 billion in Q2 2026 per MRSH's latest filing, from $1.7 billion in the prior quarter.
- Across five years, Cost of Revenue topped out at $1.7 billion in Q1 2026 and bottomed at $991.0 million in Q1 2023.
- Historically, Cost of Revenue has averaged $1.2 billion across 5 years, with a median of $1.2 billion in 2023.
- The sharpest annual moves came in 2023 and 2026: Cost of Revenue declined 9.28% in 2023, then surged 42.04% in 2026.
- Over 5 years, Cost of Revenue stood at $1.3 billion in 2022, then slipped by 9.28% to $1.2 billion in 2023, then increased by 9.47% to $1.3 billion in 2024, then grew by 11.04% to $1.4 billion in 2025, then dropped by 5.15% to $1.4 billion in 2026.
- According to Business Quant data, Cost of Revenue over the past three periods registered $1.4 billion, $1.7 billion, and $1.4 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Marsh & Mclennan Companies | 83.52 Bn | 71.57 Bn | 6.04 Bn | 1.36 Bn |
| 2 | Aon | 62.69 Bn | 61.45 Bn | - | - |
| 3 | Arthur J. Gallagher | 61.32 Bn | 59.96 Bn | - | - |
| 4 | Willis Towers Watson | 28.79 Bn | 27.21 Bn | 2.09 Bn | 380.00 Mn |
| 5 | Brown & Brown | 21.46 Bn | 20.56 Bn | 1.41 Bn | 271.00 Mn |
| 6 | XChange TEC.INC | 12.72 Bn | 12.72 Bn | - | - |
| 7 | Erie Indemnity | 11.04 Bn | 10.70 Bn | - | - |
| 8 | Ryan Specialty Holdings | 10.28 Bn | 10.64 Bn | - | - |
| 9 | Hagerty | 4.78 Bn | 4.92 Bn | 244.11 Mn | 110.71 Mn |
| 10 | Baldwin Insurance | 4.45 Bn | 4.80 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.36 Bn |
| Mar 31, 2026 | 1.71 Bn |
| Dec 31, 2025 | 1.44 Bn |
| Sep 30, 2025 | 1.29 Bn |
| Jun 30, 2025 | 1.25 Bn |
| Mar 31, 2025 | 1.21 Bn |
| Dec 31, 2024 | 1.30 Bn |
| Sep 30, 2024 | 1.15 Bn |
| Jun 30, 2024 | 1.13 Bn |
| Mar 31, 2024 | 1.08 Bn |
| Dec 31, 2023 | 1.18 Bn |
| Sep 30, 2023 | 1.10 Bn |
| Jun 30, 2023 | 1.08 Bn |
| Mar 31, 2023 | 991.00 Mn |
| Dec 31, 2022 | 1.30 Bn |
| Sep 30, 2022 | 1.06 Bn |
| Jun 30, 2022 | 1.01 Bn |
| Mar 31, 2022 | 1.00 Bn |
| Dec 31, 2021 | 1.25 Bn |
| Sep 30, 2021 | 990.00 Mn |
API Access
Marsh & Mclennan Companies Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MRSH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "MRSH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MRSH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();