Marsh & Mclennan Companies
Marsh & Mclennan Companies returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
The reported inputs required for this metric are unavailable in the extracted statements for this period.
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 13.45% | 15.6% | -12.1% | — | 6.73% | 5.8 pp |
| FY 2026 Q1 | Mar 31, 2026 | 13.5% | 15.95% | 11.43% | — | 6.79% | 5.8 pp |
| FY 2025 Q4 | Dec 31, 2025 | 15.03% | 16.68% | 34.19% | — | 7.22% | 7.3 pp |
| FY 2025 Q3 | Sep 30, 2025 | 16.39% | 18.09% | 5.72% | — | 7.6% | 8.7 pp |
| FY 2025 Q2 | Jun 30, 2025 | 15.56% | 17.66% | 4.33% | — | 7.7% | 7.9 pp |
| FY 2025 Q1 | Mar 31, 2025 | 15.4% | 17.83% | 3.4% | — | 7.73% | 7.7 pp |
| FY 2024 Q4 | Dec 31, 2024 | 16.32% | 17.84% | 4.35% | — | 7.77% | 8.6 pp |
| FY 2024 Q3 | Sep 30, 2024 | 18.08% | 20.04% | 21.54% | — | 8.23% | 10.4 pp |
| FY 2024 Q2 | Jun 30, 2024 | 17.36% | 20.06% | 39.51% | — | 8.43% | 9.7 pp |
| FY 2024 Q1 | Mar 31, 2024 | 17.42% | 19.8% | 48.73% | — | 9.57% | 9.7 pp |
| FY 2023 Q4 | Dec 31, 2023 | 18.47% | 19.38% | 45.36% | — | 9.22% | 10.8 pp |
| FY 2023 Q3 | Sep 30, 2023 | 17.39% | 18.64% | 8.55% | — | 8.66% | 9.7 pp |
| FY 2023 Q2 | Jun 30, 2023 | 15.5% | 17.5% | 0.63% | — | 8.2% | 7.8 pp |
| FY 2023 Q1 | Mar 31, 2023 | 15.17% | 17.04% | 10.2% | — | 9.45% | 7.5 pp |
| FY 2022 Q4 | Dec 31, 2022 | 15.7% | 15.85% | -4.11% | — | 8.99% | 8 pp |
| FY 2022 Q3 | Sep 30, 2022 | 17.9% | 17.97% | 64.03% | — | 10.42% | 10.2 pp |
| FY 2022 Q2 | Jun 30, 2022 | 16.72% | 16.93% | 52.14% | — | 10.18% | 9 pp |
| FY 2022 Q1 | Mar 31, 2022 | 15.91% | 16.52% | 36.43% | — | 9.8% | 8.2 pp |
| FY 2021 Q4 | Dec 31, 2021 | 16.72% | 15.9% | 51.99% | — | 9.32% | 9 pp |
| FY 2021 Q3 | Sep 30, 2021 | 14.74% | 14.85% | 441.17% | — | 8.27% | 7 pp |
| FY 2021 Q2 | Jun 30, 2021 | 13.21% | 13.85% | 145.57% | — | 7.66% | 5.5 pp |
| FY 2021 Q1 | Mar 31, 2021 | 12.49% | 13.24% | 345.71% | — | 7.05% | 4.8 pp |
| FY 2020 Q4 | Dec 31, 2020 | 12.07% | 11.98% | — | — | 6.26% | 4.4 pp |
| FY 2020 Q3 | Sep 30, 2020 | 11.96% | 12.1% | — | — | 6.38% | 4.3 pp |
| FY 2020 Q2 | Jun 30, 2020 | 11.26% | 11.6% | — | — | 6.28% | 3.6 pp |
| FY 2020 Q1 | Mar 31, 2020 | 10.3% | 11.48% | — | — | 5.79% | 2.6 pp |
| FY 2019 Q4 | Dec 31, 2019 | 12.52% | 12.95% | -1.7% | — | 6.58% | 4.8 pp |
| FY 2019 Q3 | Sep 30, 2019 | 12.23% | 13.11% | — | — | 5.76% | 4.5 pp |
| FY 2019 Q2 | Jun 30, 2019 | 12.02% | 13.03% | — | — | 5.54% | 4.3 pp |
| FY 2019 Q1 | Mar 31, 2019 | — | — | — | — | — | — |
| FY 2018 Q4 | Dec 31, 2018 | — | — | — | — | — | — |
| FY 2018 Q3 | Sep 30, 2018 | — | — | — | — | — | — |
| FY 2018 Q2 | Jun 30, 2018 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · MRSH, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.