Marsh

NYSE:MRSHFinancial ServicesCBOE:SPESGSTOXX:EDD24BP

$188.50+0.08%At closeAt close · Tue 20 Oct · ≈ AED 692.27 · Market cap $89.63B · Next earnings Thu 28 Jan

Ratio	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Current · undated	YoY
Gross margin	41.2%	42.4%	41.7%	42.4%	42.8%	42.3%	—	—
Operating margin	17.8%	21.8%	20.7%	23.2%	23.8%	23.1%	23.1%	+0.0 pts
Net margin	11.7%	15.9%	14.7%	16.5%	16.6%	15.4%	15.7%	+0.3 pts
EBITDA margin	23.5%	27.2%	25.4%	27.8%	28.3%	27.4%	—	—
Return on equity	22.1%	28.5%	29.0%	30.8%	30.4%	27.5%	27.6%	+0.1 pts
Return on assets	6.1%	9.1%	6.9%	7.8%	7.2%	7.1%	7.2%	+0.1 pts
Return on capital employed	11.6%	15.5%	16.3%	18.7%	15.7%	16.5%	—	—
Debt / equity	1.5×	1.2×	1.3×	1.3×	1.6×	1.4×	1.4×	−1.4%
Debt / assets	41.1%	38.3%	30.5%	32.1%	38.7%	36.5%	—	—
Interest coverage	6.0×	9.7×	9.1×	9.1×	8.3×	6.5×	—	—
Current ratio	1.2×	1.2×	1.1×	1.1×	1.1×	1.1×	1.1×	+0.0%
Quick ratio	1.2×	1.2×	1.1×	1.1×	1.1×	1.1×	—	—
Cash ratio	0.3×	0.3×	0.1×	0.2×	0.1×	0.1×	0.1×	+0.0%
Asset turnover	0.5×	0.6×	0.5×	0.5×	0.4×	0.5×	—	—
Receivables turnover	3.2×	3.5×	3.5×	3.5×	3.4×	3.5×	—	—
Dividend payout	46.8%	32.6%	37.3%	34.6%	37.3%	40.8%	—	—

Margins, returns, leverage and liquidityUpdated 31 Dec 2025 ·

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Current snapshot ratios have no reporting date and are shown separately from fiscal periods.