Marsh McLennan Cash Flow Statement

MRSH / Financials|15 years of annual SEC 10-K data (FY2011-FY2025)

Covers operating cash flow, capital expenditures, free cash flow, share buybacks, and dividends paid across 15 fiscal years. All figures from audited SEC 10-K filings.

Marsh McLennan generated $5.3B in operating cash flow and $5.0B in free cash flow in FY2025. Free cash flow margin was 18.5% of revenue.

Based on SEC 10-K filings.

Key Data Points

Altman Z-Score 0.96 (distress zone, below 1.8 threshold)
Strong return on equity: 26.9%

Data sourced from SEC EDGAR filings. Not investment advice.

Item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011
Net Income	$4.2B	$4.1B	$3.8B	$3.0B	$3.1B	$2.0B	$1.7B	$1.6B	$1.5B	$1.8B	$1.6B	$1.5B	$1.4B	$1.2B	$993.0M
Depreciation & Amortization	$361.0M	$369.0M	$370.0M	$381.0M	$747.0M	$741.0M	$647.0M	$494.0M	$481.0M	$438.0M	$423.0M	$388.0M	$358.0M	$349.0M	$332.0M
Operating Cash Flow	$5.3B	$4.3B	$4.3B	$3.5B	$3.5B	$3.4B	$2.4B	$2.4B	$1.9B	$2.0B	$1.9B	$2.1B	$1.3B	$1.3B	$1.7B
Capital Expenditures	$291.0M	$316.0M	$416.0M	$470.0M	$406.0M	$348.0M	$421.0M	$314.0M	$302.0M	$253.0M	$325.0M	$368.0M	$401.0M	$320.0M	$280.0M
Free Cash Flow	$5.0B	$4.0B	$3.8B	$3.0B	$3.1B	$3.0B	$1.9B	$2.1B	$1.6B	$1.8B	$1.6B	$1.8B	$940.0M	$1.0B	$1.4B
Share Buybacks	$2.0B	$900.0M	$1.1B	$1.9B	$1.2B	$0	$485.0M	$675.0M	$900.0M	$800.0M	$1.4B	$800.0M	$550.0M	$230.0M	$361.0M
Dividends Paid	$1.7B	$1.5B	$1.3B	$1.1B	$1.0B	$943.0M	$890.0M	$807.0M	$740.0M	$682.0M	$632.0M	$582.0M	$533.0M	$497.0M	$480.0M
FCF Margin	18.5%	16.3%	16.9%	14.4%	-	-	-	-	45.4%	-	12.1%	13.5%	7.7%	8.4%	12.4%

Other Financial Statements

Income Statement Balance Sheet All Financial Data

Scores & Analysis

Piotroski F-Score Altman Z-Score Financial Ratios

Marsh McLennan Profile All Financial Data

Item

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

FY2016

FY2015

FY2014

FY2013

FY2012

FY2011

Net Income

$4.2B

$4.1B

$3.8B

$3.0B

$3.1B

$2.0B

$1.7B

$1.6B

$1.5B

$1.8B

$1.6B

$1.5B

$1.4B

$1.2B

$993.0M

Depreciation & Amortization

$361.0M

$369.0M

$370.0M

$381.0M

$747.0M

$741.0M

$647.0M

$494.0M

$481.0M

$438.0M

$423.0M

$388.0M

$358.0M

$349.0M

$332.0M

Operating Cash Flow

$5.3B

$4.3B

$3.5B

$3.4B

$2.4B

$1.9B

$2.0B

$1.9B

$2.1B

$1.3B

$1.7B

Capital Expenditures

$291.0M

$316.0M

$416.0M

$470.0M

$406.0M

$348.0M

$421.0M

$314.0M

$302.0M

$253.0M

$325.0M

$368.0M

$401.0M

$320.0M

$280.0M

Free Cash Flow

$5.0B

$4.0B

$3.8B

$3.0B

$3.1B

$3.0B

$1.9B

$2.1B

$1.6B

$1.8B

$1.6B

$1.8B

$940.0M

$1.0B

$1.4B

Share Buybacks

$2.0B

$900.0M

$1.1B

$1.9B

$1.2B

$485.0M

$675.0M

$900.0M

$800.0M

$1.4B

$800.0M

$550.0M

$230.0M

$361.0M

Dividends Paid

$1.7B

$1.5B

$1.3B

$1.1B

$1.0B

$943.0M

$890.0M

$807.0M

$740.0M

$682.0M

$632.0M

$582.0M

$533.0M

$497.0M

$480.0M

FCF Margin

18.5%

16.3%

16.9%

14.4%

45.4%

12.1%

13.5%

7.7%

8.4%

12.4%