Marsh & Mclennan Companies (MRSH) Operating Expenses (2009 - 2026)
Marsh & Mclennan Companies' (MRSH) quarterly Operating Expenses came in at $5.5 billion in Q2 2026, up 7.0% on a YoY basis from $5.1 billion in Q2 2025, and down 5.78% quarter-over-quarter from $5.8 billion in Q1 2026.
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Analysis
Marsh & Mclennan Companies (MRSH) Operating Expenses (2009 - 2026) Analysis & Trends
Marsh & Mclennan Companies (MRSH) has reported Operating Expenses for 18 consecutive years, with $5.5 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses rose 7.0% year-over-year to $5.5 billion; the trailing twelve-month figure through Jun 2026 stood at $21.9 billion (up 11.11% YoY), and the FY2025 full-year result was $20.8 billion, up 11.36% from the prior year.
- Operating Expenses fell to $5.5 billion in Q2 2026 per MRSH's latest filing, from $5.8 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $5.8 billion in Q1 2026 and bottomed at $4.0 billion in Q3 2022.
- Historically, Operating Expenses has averaged $4.7 billion across 5 years, with a median of $4.6 billion in 2024.
- The sharpest annual moves came in 2023 and 2026: Operating Expenses climbed 2.29% in 2023, then grew 15.57% in 2026.
- Over 5 years, Operating Expenses stood at $4.3 billion in 2022, then grew by 2.51% to $4.5 billion in 2023, then rose by 10.65% to $4.9 billion in 2024, then advanced by 9.16% to $5.4 billion in 2025, then gained by 2.4% to $5.5 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $5.5 billion, $5.8 billion, and $5.4 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Marsh & Mclennan Companies | 83.52 Bn | 71.57 Bn | 6.04 Bn | 5.51 Bn |
| 2 | Aon | 62.69 Bn | 61.45 Bn | - | 3.33 Bn |
| 3 | Arthur J. Gallagher | 61.32 Bn | 59.96 Bn | - | 3.59 Bn |
| 4 | Willis Towers Watson | 28.79 Bn | 27.21 Bn | 2.09 Bn | 2.10 Bn |
| 5 | Brown & Brown | 21.46 Bn | 20.56 Bn | 1.41 Bn | 1.29 Bn |
| 6 | XChange TEC.INC | 12.72 Bn | 12.72 Bn | - | - |
| 7 | Erie Indemnity | 11.04 Bn | 10.70 Bn | - | 885.67 Mn |
| 8 | Ryan Specialty Holdings | 10.28 Bn | 10.64 Bn | - | 736.33 Mn |
| 9 | Hagerty | 4.78 Bn | 4.92 Bn | 244.11 Mn | 352.59 Mn |
| 10 | Baldwin Insurance | 4.45 Bn | 4.80 Bn | - | 501.28 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.51 Bn |
| Mar 31, 2026 | 5.84 Bn |
| Dec 31, 2025 | 5.38 Bn |
| Sep 30, 2025 | 5.18 Bn |
| Jun 30, 2025 | 5.15 Bn |
| Mar 31, 2025 | 5.06 Bn |
| Dec 31, 2024 | 4.93 Bn |
| Sep 30, 2024 | 4.59 Bn |
| Jun 30, 2024 | 4.58 Bn |
| Mar 31, 2024 | 4.55 Bn |
| Dec 31, 2023 | 4.45 Bn |
| Sep 30, 2023 | 4.39 Bn |
| Jun 30, 2023 | 4.42 Bn |
| Mar 31, 2023 | 4.20 Bn |
| Dec 31, 2022 | 4.34 Bn |
| Sep 30, 2022 | 3.98 Bn |
| Jun 30, 2022 | 4.02 Bn |
| Mar 31, 2022 | 4.10 Bn |
| Dec 31, 2021 | 4.15 Bn |
| Sep 30, 2021 | 3.84 Bn |
API Access
Marsh & Mclennan Companies Operating Expenses 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=operating-expenses&ticker=MRSH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=MRSH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();