Marsh & McLennan Companies (MRSH) Balance Sheet: Assets & Liabilities

Marsh & McLennan Companies (MRSH) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Marsh & McLennan Companies reported total assets of $58.71B and total liabilities of $43.40B. Shareholders' equity was $15.10B, up 11.6% from $13.54B a year earlier. Total debt stood at $21.45B against $2.69B in cash and short-term investments, a net debt position of $18.76B. That puts debt-to-equity at 1.42, compared with 1.47 a year earlier.

Marsh & McLennan Companies Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Marsh & McLennan Companies, Inc. (MRSH) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	2.69	2.40	3.36	1.44	1.75	2.09	1.16	1.07	1.21
Cash & Short-Term Investments	2.69	2.40	3.36	1.44	1.75	2.09	1.16	1.07	1.21
Accounts Receivable	7.67	6.45	5.81	5.29	5.59	5.33	5.24	4.32	4.13
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	12.84	12.56	1.18	1.01	0.93	0.70	0.68	0.55	0.22
Total Current Assets	23.20	22.12	21.75	18.96	8.26	8.12	7.07	5.93	5.56
Non-Current Assets
Property, Plant & Equipment (Net)	2.29	2.36	2.42	2.43	2.72	2.75	2.78	0.70	0.71
Long-Term Investments	0.52	0.54	0.45	0.40	2.27	1.77	1.63	0.66	0.72
Goodwill	24.34	23.31	17.23	16.25	16.32	15.52	14.67	9.60	9.09
Intangible Assets	5.21	5.29	2.63	2.54	2.81	2.70	2.77	1.44	1.27
Other Non-Current Assets	3.16	3.88	1.59	1.45	1.46	1.46	1.76	2.57	2.40
Total Non-Current Assets	35.51	34.36	26.28	25.16	26.12	24.91	24.25	15.64	14.87
Total Assets	58.71	56.48	48.03	44.11	34.39	33.03	31.32	21.58	20.43
Current Liabilities
Accounts Payable	3.65	3.40	3.40	3.28	3.17	3.05	2.75	2.23	2.08
Short-Term Debt	1.60	0.52	1.62	0.27	0.35	0.86	1.56	0.31	0.26
Current Portion of Long-Term Debt	1.27	0.52	1.62	0.27	0.02	-	-	-	-
Accrued Liabilities	4.34	4.00	3.67	3.32	3.14	-	-	-	-
Other Current Liabilities	15.81	11.28	10.79	10.66	2.94	2.44	2.20	2.22	1.72
Total Current Liabilities	21.06	19.52	19.80	17.83	6.65	6.56	6.68	4.92	4.26
Non-Current Liabilities
Long-Term Debt	19.85	19.43	11.84	11.23	12.81	12.72	12.67	5.51	5.23
Deferred Tax Liabilities	0.00	0.45	0.54	0.00	0.00	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	2.49	2.41	1.58	1.72	3.70	4.51	4.07	3.56	3.50
Total Non-Current Liabilities	22.34	23.43	15.87	15.53	16.51	17.23	16.74	9.07	8.73
Total Liabilities	43.40	42.95	35.66	33.37	23.17	23.79	23.41	13.99	12.99
Stockholders' Equity
Common Stock	0.56	0.56	0.56	0.56	0.56	0.56	0.56	0.56	0.56
Retained Earnings	27.77	25.31	22.76	20.30	18.39	16.27	15.20	14.35	13.14
Accumulated Other Comprehensive Income	-5.43	-6.24	-5.30	-5.31	-4.58	-5.11	-5.06	-4.65	-4.04
Treasury Stock	9.35	7.66	7.08	6.21	-	-	-	-	-
Additional Paid-in Capital	-7.80	-6.29	1.24	1.18	-3.37	-2.62	-2.91	-2.75	-2.30
Minority Interest	0.22	0.19	0.18	0.23	0.21	0.16	0.15	0.07	0.08
Shares Outstanding	0.48	0.49	0.49	0.49	-	-	-	-	-
Total Stockholders' Equity	15.10	13.54	12.19	10.52	11.01	9.10	7.79	7.51	7.36
Total Liabilities & Equity	58.71	56.48	48.03	44.11	34.39	33.03	31.32	21.58	20.43

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Marsh & McLennan Companies Balance Sheet

How much debt does Marsh & McLennan Companies have?

Marsh & McLennan Companies had total debt of $21.45B as of Dec 31, 2025, against $2.69B in cash and short-term investments. Its debt-to-equity ratio was 1.42. Total debt was $19.95B a year earlier.

What are Marsh & McLennan Companies's total assets?

Marsh & McLennan Companies reported total assets of $58.71B as of Dec 31, 2025, up 3.9% from $56.48B a year earlier. Total liabilities were $43.40B.

What is Marsh & McLennan Companies's shareholders' equity?

Marsh & McLennan Companies's shareholders' equity was $15.10B as of Dec 31, 2025, or about $31.14 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition