MRSH

NYSE

MARSH & MCLENNAN COMPANIES, INC.

Financials, Insurance Brokers

$191.65

close 7 Aug 2026

-5.75%

52-week change

$91.61B

market cap

$156.60

$213.80

52-week range

Expected price

$197.50 – $241.39

Current price

$191.65

Signal

Could be undervalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)23.43x

P/S (TTM)3.28x

P/B5.94x

EV/EBITDA (TTM)—

FCF yield (TTM)5.20%

PEG (TTM, GAAP)1.99

Context

P/E, own 5-year average26.22x

P/E, sector median16.04x*

Price at 5-year median P/E$219.45*

Indicated dividend yield2.07%

Forward — analyst consensus

Forward P/E (FY2026)18.34x*

Forward P/E (FY2027)16.80x

Forward PEG2.01*

Consensus EPS FY2026 (23 analysts)$10.45

EPS growth (FY2026→FY2027)9.14%

Revenue growth (FY2026)5.87%

Street view

Price target (mean)$205.52*

Target upside7.24%

Ratings (buy / hold / sell)7 / 15 / 1

FY2026 EPS revisions, 30d (up / down)16 / 2

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 30 Jun 2026, filed 21 Jul 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

5Y CAGR +10.51%10Y CAGR +12.33%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$191.65

Cash & equivalents$1.70B

Total debt$19.54B

Shares outstanding478.00M

Result

DCF price per share$309.95

Current price$191.65

Margin of safety+61.73%

PV of years 1–10$54.21B

PV of terminal value$111.79B

Equity value$148.16B

Market-implied growth+5.17%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$5.27B	$5.82B	$6.43B	$7.11B	$7.86B	$8.68B	$9.60B	$10.60B	$11.72B	$12.95B	$241.34B
PV	$4.88B	$4.99B	$5.11B	$5.23B	$5.35B	$5.47B	$5.60B	$5.73B	$5.86B	$6.00B	$111.79B

period to 30 Jun 2026, filed 21 Jul 2026, close 7 Aug 2026