Marsh & Mclennan Companies annual debt-to-equity ratio
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2025
Marsh & Mclennan Companies Debt-to-Equity Ratio Growth & History (MRSH)
Marsh & Mclennan Companies's debt-to-equity ratio was 1.40 for fiscal 2025.
View full Marsh & Mclennan Companies company overviewMarsh & Mclennan Companies annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 1.40 | −0.21 | −13.29% |
| 2024 | 2024-12-31 | 1.62 | 0.37 | +29.44% |
| 2023 | 2023-12-31 | 1.25 | −0.01 | −0.44% |
| 2022 | 2022-12-31 | 1.25 | 0.08 | +6.86% |
| 2021 | 2021-12-31 | 1.17 | −0.29 | −20.02% |
| 2020 | 2020-12-31 | 1.47 | −0.32 | −18.11% |
| 2019 | 2019-12-31 | 1.79 | 1.02 | +133.19% |
| 2018 | 2018-12-31 | 0.77 | 0.03 | +4.15% |
| 2017 | 2017-12-31 | 0.74 | −0.02 | −2.79% |
| 2016 | 2016-12-31 | 0.76 | 0.09 | +13.44% |
| 2015 | 2015-12-31 | 0.67 | 0.19 | +41.14% |
| 2014 | 2014-12-31 | 0.47 | 0.10 | +27.85% |
| 2013 | 2013-12-31 | 0.37 | −0.07 | −16.12% |
| 2012 | 2012-12-31 | 0.44 | −0.05 | −10.39% |
| 2011 | 2011-12-31 | 0.49 | 0.02 | +4.22% |
| 2010 | 2010-12-31 | 0.47 | −0.14 | −22.80% |
| 2009 | 2009-12-31 | 0.61 | −0.01 | −2.03% |
| 2008 | 2008-12-31 | 0.63 | — | — |
Marsh & Mclennan Companies quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 1.45 | 0.10 | +7.22% |
| Q1 2026 | 2026-03-31 | 1.52 | −0.05 | −3.50% |
| Q4 2025 | 2025-12-31 | 1.40 | −0.21 | −13.29% |
| Q3 2025 | 2025-09-30 | 1.40 | 0.33 | +31.03% |
| Q2 2025 | 2025-06-30 | 1.35 | 0.21 | +18.88% |
| Q1 2025 | 2025-03-31 | 1.57 | 0.35 | +28.96% |
| Q4 2024 | 2024-12-31 | 1.62 | 0.37 | +29.44% |
| Q3 2024 | 2024-09-30 | 1.06 | −0.28 | −20.91% |
| Q2 2024 | 2024-06-30 | 1.14 | −0.07 | −5.59% |
| Q1 2024 | 2024-03-31 | 1.22 | −0.12 | −8.94% |
| Q4 2023 | 2023-12-31 | 1.25 | −0.01 | −0.44% |
| Q3 2023 | 2023-09-30 | 1.35 | −0.01 | −0.79% |
| Q2 2023 | 2023-06-30 | 1.21 | −0.06 | −5.10% |
| Q1 2023 | 2023-03-31 | 1.34 | 0.09 | +7.35% |
| Q4 2022 | 2022-12-31 | 1.25 | 0.08 | +6.86% |
| Q3 2022 | 2022-09-30 | 1.36 | 0.04 | +3.33% |
| Q2 2022 | 2022-06-30 | 1.27 | −0.01 | −0.55% |
| Q1 2022 | 2022-03-31 | 1.25 | −0.16 | −11.07% |
| Q4 2021 | 2021-12-31 | 1.17 | −0.29 | −20.02% |
| Q3 2021 | 2021-09-30 | 1.31 | −0.40 | −23.31% |
| Q2 2021 | 2021-06-30 | 1.28 | −0.56 | −30.57% |
| Q1 2021 | 2021-03-31 | 1.40 | −0.73 | −34.21% |
| Q4 2020 | 2020-12-31 | 1.47 | −0.32 | −18.11% |
| Q3 2020 | 2020-09-30 | 1.71 | −0.19 | −10.20% |
| Q2 2020 | 2020-06-30 | 1.84 | −0.01 | −0.75% |
| Q1 2020 | 2020-03-31 | 2.13 | 0.36 | +20.08% |
| Q4 2019 | 2019-12-31 | 1.79 | 1.02 | +133.19% |
| Q3 2019 | 2019-09-30 | 1.91 | 1.10 | +136.58% |
| Q2 2019 | 2019-06-30 | 1.85 | 1.07 | +137.77% |
| Q1 2019 | 2019-03-31 | 1.77 | 1.02 | +134.11% |
| Q4 2018 | 2018-12-31 | 0.77 | 0.03 | +4.15% |
| Q3 2018 | 2018-09-30 | 0.81 | 0.04 | +4.72% |
| Q2 2018 | 2018-06-30 | 0.78 | 0.00 | +0.41% |
| Q1 2018 | 2018-03-31 | 0.76 | −0.11 | −12.64% |
| Q4 2017 | 2017-12-31 | 0.74 | −0.02 | −2.79% |
| Q3 2017 | 2017-09-30 | 0.77 | 0.07 | +9.29% |
| Q2 2017 | 2017-06-30 | 0.78 | 0.07 | +9.41% |
| Q1 2017 | 2017-03-31 | 0.87 | 0.16 | +23.35% |
| Q4 2016 | 2016-12-31 | 0.76 | 0.09 | +13.44% |
| Q3 2016 | 2016-09-30 | 0.70 | −0.00 | −0.39% |
| Q2 2016 | 2016-06-30 | 0.71 | — | — |
| Q1 2016 | 2016-03-31 | 0.70 | 0.14 | +24.09% |
| Q4 2015 | 2015-12-31 | 0.67 | 0.19 | +41.14% |
| Q3 2015 | 2015-09-30 | 0.71 | 0.20 | +39.22% |
| Q1 2015 | 2015-03-31 | 0.57 | 0.20 | +54.44% |
| Q4 2014 | 2014-12-31 | 0.47 | 0.10 | +27.85% |
| Q3 2014 | 2014-09-30 | 0.51 | 0.06 | +12.77% |
| Q2 2014 | 2014-06-30 | 0.43 | 0.03 | +8.72% |
| Q1 2014 | 2014-03-31 | 0.37 | −0.04 | −9.28% |
| Q4 2013 | 2013-12-31 | 0.37 | −0.07 | −16.12% |
| Q3 2013 | 2013-09-30 | 0.45 | 0.01 | +1.50% |
| Q2 2013 | 2013-06-30 | 0.40 | −0.06 | −13.96% |
| Q1 2013 | 2013-03-31 | 0.40 | −0.06 | −13.31% |
| Q4 2012 | 2012-12-31 | 0.44 | −0.05 | −10.39% |
| Q3 2012 | 2012-09-30 | 0.44 | −0.01 | −2.12% |
| Q2 2012 | 2012-06-30 | 0.46 | 0.01 | +2.96% |
| Q1 2012 | 2012-03-31 | 0.47 | 0.01 | +2.90% |
| Q4 2011 | 2011-12-31 | 0.49 | 0.02 | +4.22% |
| Q3 2011 | 2011-09-30 | 0.45 | −0.02 | −4.27% |
| Q2 2011 | 2011-06-30 | 0.45 | −0.11 | −20.02% |
| Q1 2011 | 2011-03-31 | 0.45 | −0.14 | −24.04% |
| Q4 2010 | 2010-12-31 | 0.47 | −0.14 | −22.80% |
| Q3 2010 | 2010-09-30 | 0.47 | −0.12 | −20.47% |
| Q2 2010 | 2010-06-30 | 0.56 | −0.07 | −10.44% |
| Q1 2010 | 2010-03-31 | 0.60 | — | — |
| Q4 2009 | 2009-12-31 | 0.61 | −0.01 | −2.01% |
| Q3 2009 | 2009-09-30 | 0.60 | — | — |
| Q2 2009 | 2009-06-30 | 0.62 | — | — |
| Q4 2008 | 2008-12-31 | 0.63 | — | — |
Marsh & Mclennan Companies debt-to-equity ratio trends
Over the last five fiscal years, Marsh & Mclennan Companies's debt-to-equity ratio decreased from 1.47 to 1.40, a change of −0.07. The latest reported quarter, Q2 2026, shows 1.45.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Marsh & Mclennan Companies source filings ↗