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MarshStock · Finance
$193.29+$1.82 (+0.95%)as of market close, Aug 6, 2026
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How Marsh makes money

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How does Marsh make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Marsh · FY2025 · year ended 2025-12-31
Revenue$27.0BGross profit$27.0B · 100%Cost of revenue$0 · 0%Operating income$6.2B · 23%Operating expenses$20.8B · 77%Other opex$20.8B · 77%Pre-tax income$5.5B · 20%Other expense$758M · 3%Net income$4.2B · 15%Income tax$1.3B · 5%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.