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Marsh Valuation Multiples
Discover revenue and EBITDA valuation multiples for Marsh and similar public comparables like Marsh McLennan, Aon, Bajaj Finance, Arthur J. Gallagher and more.
Marsh Overview
About Marsh
Marsh McLennan is a professional services firm that provides advice and solutions in the areas of risk, strategy, and human capital. The company operates through two main segments: risk and insurance services and consulting. In risk and insurance services, the firm offers services via Marsh (an insurance broker) and Guy Carpenter (a risk and reinsurance specialist). The consulting division comprises Mercer (a provider of human resource services) and Oliver Wyman (a management and economic consultancy). About half of its revenue is generated outside the US.
Founded
1969
HQ
Employees
95.0K
Website
Financials (LTM)
EV
$109B
Marsh Financials
Marsh reported last 12-month revenue of $27B and EBITDA of $8B.
In the same LTM period, Marsh generated $6B in gross profit, $8B in EBITDA, and $5B in net income.
Revenue (LTM)
Marsh P&L
In the most recent fiscal year, Marsh reported revenue of $27B and EBITDA of $8B.
Marsh expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $27B | XXX | $27B | XXX | XXX | XXX |
| Gross Profit | $6B | XXX | $11B | XXX | XXX | XXX |
| Gross Margin | 23% | XXX | 42% | XXX | XXX | XXX |
| EBITDA | $8B | XXX | $8B | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 28% | XXX | XXX | XXX |
| EBIT Margin | 27% | XXX | 27% | XXX | XXX | XXX |
| Net Profit | $5B | XXX | $5B | XXX | XXX | XXX |
| Net Margin | 18% | XXX | 18% | XXX | XXX | XXX |
| Net Debt | — | — | $17B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Marsh Stock Performance
Marsh has current market cap of $90B, and enterprise value of $109B.
Market Cap Evolution
Marsh's stock price is $186.43.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $109B | $90B | 0.0% | XXX | XXX | XXX | $9.94 |
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Start Free TrialMarsh Valuation Multiples
Marsh trades at 4.0x EV/Revenue multiple, and 14.1x EV/EBITDA.
EV / Revenue (LTM)
Marsh Financial Valuation Multiples
As of March 28, 2026, Marsh has market cap of $90B and EV of $109B.
Equity research analysts estimate Marsh's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Marsh has a P/E ratio of 18.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $90B | XXX | $90B | XXX | XXX | XXX |
| EV (current) | $109B | XXX | $109B | XXX | XXX | XXX |
| EV/Revenue | 4.0x | XXX | 4.0x | XXX | XXX | XXX |
| EV/EBITDA | 14.1x | XXX | 14.3x | XXX | XXX | XXX |
| EV/EBIT | 14.9x | XXX | 14.9x | XXX | XXX | XXX |
| EV/Gross Profit | 17.4x | XXX | 9.6x | XXX | XXX | XXX |
| P/E | 18.6x | XXX | 18.8x | XXX | XXX | XXX |
| EV/FCF | 21.8x | XXX | 21.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Marsh Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Marsh Margins & Growth Rates
Marsh's revenue in the last 12 month grew by 5%.
Marsh's revenue per employee in the last FY averaged $0.3M.
Marsh's rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Marsh's rule of X is 41% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Marsh Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 5% | XXX | 5% | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 28% | XXX | XXX | XXX |
| EBITDA Growth | 7% | XXX | 7% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 33% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 41% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 19% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Marsh Public Comps
See public comps and valuation multiples for other Insurance Brokers and Other Financial Services comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Marsh McLennan | XXX | XXX | XXX | XXX | XXX | XXX |
| Aon | XXX | XXX | XXX | XXX | XXX | XXX |
| Bajaj Finance | XXX | XXX | XXX | XXX | XXX | XXX |
| Arthur J. Gallagher | XXX | XXX | XXX | XXX | XXX | XXX |
| Willis Towers Watson | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Marsh M&A Activity
Marsh acquired XXX companies to date.
Last acquisition by Marsh was on XXXXXXXX, XXXXX. Marsh acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Marsh
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialMarsh Investment Activity
Marsh invested in XXX companies to date.
Marsh made its latest investment on XXXXXXXX, XXXXX. Marsh invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Marsh
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Marsh
| When was Marsh founded? | Marsh was founded in 1969. |
| Where is Marsh headquartered? | Marsh is headquartered in United States. |
| How many employees does Marsh have? | As of today, Marsh has over 95K employees. |
| Is Marsh publicly listed? | Yes, Marsh is a public company listed on NYSE. |
| What is the stock symbol of Marsh? | Marsh trades under MRSH ticker. |
| When did Marsh go public? | Marsh went public in 1969. |
| Who are competitors of Marsh? | Marsh main competitors are Marsh McLennan, Aon, Bajaj Finance, Arthur J. Gallagher. |
| What is the current market cap of Marsh? | Marsh's current market cap is $90B. |
| What is the current revenue of Marsh? | Marsh's last 12 months revenue is $27B. |
| What is the current revenue growth of Marsh? | Marsh revenue growth (NTM/LTM) is 5%. |
| What is the current EV/Revenue multiple of Marsh? | Current revenue multiple of Marsh is 4.0x. |
| Is Marsh profitable? | Yes, Marsh is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Marsh? | Marsh's last 12 months EBITDA is $8B. |
| What is Marsh's EBITDA margin? | Marsh's last 12 months EBITDA margin is 28%. |
| What is the current EV/EBITDA multiple of Marsh? | Current EBITDA multiple of Marsh is 14.1x. |
| What is the current FCF of Marsh? | Marsh's last 12 months FCF is $5B. |
| What is Marsh's FCF margin? | Marsh's last 12 months FCF margin is 18%. |
| What is the current EV/FCF multiple of Marsh? | Current FCF multiple of Marsh is 21.8x. |
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