Marsh & Mclennan Companies (MRSH) Operating Margin (2009 - 2026)
Marsh & Mclennan Companies' (MRSH) quarterly Operating Margin came in at 25.65% in Q2 2026, down 58.0% YoY from 61.07% in Q2 2025, and up 11.09% on a QoQ basis from 23.09% in Q1 2026.
Marsh & Mclennan Companies (MRSH) Operating Margin (2009 - 2026) Analysis & Trends
Marsh & Mclennan Companies (MRSH) has 18 years of Operating Margin data on file, last reported at 25.65% in Q2 2026.
- Quarterly Operating Margin fell 58.0% year-over-year to 25.65% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 21.62% (down 196.0% YoY) and the FY2025 annual result came in at 23.06%, down 72.0% from the prior year.
- Operating Margin rose to 25.65% in Q2 2026, from 23.09% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 29.74% in Q1 2024 to a low of 13.54% in Q4 2022.
- A 5-year average of 22.69% and a median of 23.94% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin tumbled 565 bps — and 2023, when it soared 632 bps.
- Tracing MRSH's Operating Margin over 5 years: stood at 13.54% in 2022, then soared by 47 bps to 19.86% in 2023, then dropped by 5 bps to 18.82% in 2024, then declined by 2 bps to 18.48% in 2025, then surged by 39 bps to 25.65% in 2026.
- The last three Operating Margin figures came in at 25.65% (Q2 2026), 23.09% (Q1 2026), and 18.48% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | XChange TEC.INC | 279.91 Bn | 279.90 Bn | - | - |
| 2 | Marsh & Mclennan Companies | 91.40 Bn | 79.19 Bn | 6.04 Bn | 25.65% |
| 3 | Aon | 75.07 Bn | 73.80 Bn | - | 21.55% |
| 4 | Arthur J. Gallagher | 66.45 Bn | 65.07 Bn | - | - |
| 5 | Willis Towers Watson | 32.02 Bn | 30.36 Bn | 2.09 Bn | 14.76% |
| 6 | Brown & Brown | 23.72 Bn | 22.80 Bn | 1.41 Bn | 6.68% |
| 7 | Erie Indemnity | 12.11 Bn | 11.77 Bn | - | 18.73% |
| 8 | Neptune Insurance Holdings | 4.50 Bn | 4.48 Bn | - | 47.52% |
| 9 | Accelerant Holdings | 4.28 Bn | 2.62 Bn | 285.20 Mn | 2.02% |
| 10 | Corvel | 3.60 Bn | 3.25 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 25.65% |
| Mar 31, 2026 | 23.09% |
| Dec 31, 2025 | 18.48% |
| Sep 30, 2025 | 18.42% |
| Jun 30, 2025 | 26.23% |
| Mar 31, 2025 | 28.40% |
| Dec 31, 2024 | 18.82% |
| Sep 30, 2024 | 19.45% |
| Jun 30, 2024 | 26.39% |
| Mar 31, 2024 | 29.74% |
| Dec 31, 2023 | 19.86% |
| Sep 30, 2023 | 18.51% |
| Jun 30, 2023 | 24.80% |
| Mar 31, 2023 | 29.14% |
| Dec 31, 2022 | 13.54% |
| Sep 30, 2022 | 16.58% |
| Jun 30, 2022 | 25.36% |
| Mar 31, 2022 | 26.04% |
| Dec 31, 2021 | 19.19% |
| Sep 30, 2021 | 16.15% |