Marsh Q4 2025 adj EPS $2.12 (+10% YoY); full-year rev $27B (+10%)

MARSH & MCLENNAN COMPANIES, INC.

2025-FY EPS reported $8.43 revenue$26,981,000,000

Q4 GAAP EPS $1.68; adjusted EPS $2.12 (up 10% YoY) on revenue $6.6B (+9% GAAP, +4% underlying).
Full-year 2025 GAAP EPS $8.43; adjusted EPS $9.75 (up 9%) on revenue $27.0B (+10% GAAP, +4% underlying).
Risk & Insurance Services segment: Q4 revenue $4.0B (+9%), FY revenue $17.3B (+12%); adjusted operating income up 11% in Q4.
Consulting segment: Q4 revenue $2.6B (+8%), FY revenue $9.8B (+7%); Mercer wealth revenue grew 5% underlying in Q4.
Repurchased 10.1M shares for $2.0B in 2025; NYSE ticker changed to MRSH on January 14, 2026.

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