Marsh & McLennan Companies
Financial ratios & Valuation

Forward Multiples (2025 – 2027)

202520262027
Price/Earnings ratio
22.4820.6017.80
Price/Sales ratio
4.133.933.64
Earnings per Share (EPS)
$9.40$10.26$11.87

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
21.2918.4119.8427.9824.4532.3629.3628.0327.0724.9126.0724.45
Price/Sales ratio
2.402.282.652.972.693.383.434.443.984.114.372.69
Price/Book Value ratio
4.374.455.595.675.377.096.397.857.687.677.675.37
Price/Cash Flow ratio
14.7715.5917.4722.0516.6223.8717.5025.0623.8321.9825.4316.62
Price/Free Cash Flow ratio
17.8818.8319.9926.2419.0829.0519.5128.3327.5724.3627.8119.08
Price/Earnings Growth ratio
2.391.541.49-1.902.035.861.870.50-18.651.02-7.695.86
Dividend Yield
1.86%2.14%1.94%1.77%1.99%1.57%1.59%1.16%1.37%1.38%1.42%1.57%
Profitability Indicator Ratios
Gross Profit Margin
41.97%43.11%43.52%42.34%42.44%41.54%41.19%42.35%41.74%42.38%43.06%42.44%
Operating Profit Margin
17.76%18.76%20.16%18.93%18.46%16.07%17.80%21.75%20.65%23.23%25.21%18.46%
Pretax Profit Margin
15.88%17.89%18.77%18.84%15.01%14.64%16.21%21.23%19.70%22.10%23.04%15.01%
Net Profit Margin
11.31%12.40%13.38%10.63%11.03%10.46%11.70%15.85%14.72%16.52%16.82%11.03%
Effective Tax Rate
28.48%29.08%27.62%42.86%25.57%27.30%26.74%24.57%24.37%24.35%26.05%25.57%
Return on Assets
8.21%8.77%9.71%7.30%7.64%5.56%6.10%9.13%9.11%7.82%8.07%7.64%
Return On Equity
20.53%24.21%28.18%20.27%21.99%21.93%21.77%28.00%28.37%30.80%31.18%21.99%
Return on Capital Employed
16.27%16.67%18.88%16.42%16.57%10.86%11.56%15.54%16.28%18.70%19.95%16.57%
Liquidity Ratios
Current Ratio
1.631.361.191.301.201.051.24N/AN/AN/A1.131.05
Quick Ratio
1.621.361.191.301.201.051.241.241.151.091.131.05
Cash ratio
0.520.370.250.280.210.170.320.260.200.160.090.17
Days of Sales Outstanding
95.1798.26100.65107.56105.39114.76112.86102.87103.08103.03113.12105.39
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
95.1798.26100.65107.56105.39114.76112.86102.87103.08103.03113.12105.39
Days of Payables Outstanding
91.4593.8696.3294.0394.76102.9691.24101.1190.5092.8482.96102.96
Cash Conversion Cycle
3.714.404.3213.5310.6311.8021.621.7512.5810.1830.1610.63
Debt Ratios
Debt Ratio
0.180.240.260.260.260.390.350.320.340.280.250.39
Debt Equity Ratio
0.470.660.760.740.771.541.251.001.061.120.930.77
Long-term Debt to Capitalization
0.320.400.410.410.420.570.530.490.510.490.470.42
Total Debt to Capitalization
0.320.400.430.420.430.600.550.500.510.530.480.43
Interest Coverage Ratio
13.9414.8414.0912.059.525.105.95N/AN/AN/A9.739.52
Cash Flow to Debt Ratio
0.620.420.410.340.410.190.290.310.300.300.320.32
Company Equity Multiplier
2.502.752.902.772.873.943.563.063.113.933.642.87
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.160.140.150.130.160.140.190.170.160.180.170.16
Free Cash Flow / Operating Cash Flow Ratio
0.820.820.870.840.870.820.890.880.860.900.910.87
Cash Flow Coverage Ratio
0.620.420.410.340.410.190.290.310.300.300.320.32
Short Term Coverage Ratio
192157.336.437.227.731.513.9310.0712.922.207.977.73
Dividend Payout Ratio
39.72%39.52%38.57%49.59%48.90%51.09%46.77%32.64%37.31%34.55%36.34%51.09%