Marsh & McLennan Companies, Inc. (MRSH) Spending and interest coverage
- R&D / revenue · 12 months: Value (m); Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value 1.50%; Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | (m) | Research and development expense / revenue. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Stock-based compensation / revenue · 12 months | 1.50% | Share-based compensation / revenue. Period ending 2026-06-30. $419.00M ÷ $27.95B × 100 ≈ 1.50% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | (m) | |
| Revenue | 27.95B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 419.00M USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | 6.04B USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | (m) | $27.95B | $419.00M | $6.04B | (m) | (m) | 1.50% | (m) | (m) |
| 2026-03-31 | (m) | $27.52B | $421.00M | $5.97B | (m) | (m) | 1.53% | (m) | (m) |
| 2025-12-31 | (m) | $26.98B | $394.00M | $6.22B | (m) | (m) | 1.46% | (m) | (m) |
| 2025-09-30 | (m) | $26.45B | $390.00M | $6.15B | (m) | (m) | 1.47% | (m) | (m) |
| 2025-06-30 | (m) | $25.80B | $385.00M | $6.08B | (m) | (m) | 1.49% | (m) | (m) |
| 2025-03-31 | (m) | $25.05B | $377.00M | $5.90B | (m) | (m) | 1.51% | (m) | (m) |
| 2024-12-31 | (m) | $24.46B | $368.00M | $5.82B | (m) | (m) | 1.50% | (m) | (m) |
| 2024-09-30 | (m) | (m) | $373.00M | $5.78B | (m) | (m) | (m) | (m) | (m) |
| 2024-06-30 | (m) | (m) | $365.00M | $5.67B | (m) | (m) | (m) | (m) | (m) |
| 2024-03-31 | (m) | (m) | $367.00M | $5.48B | $601.00M | (m) | (m) | 9.12× | Reported |
| 2023-12-31 | (m) | (m) | $363.00M | $5.28B | $578.00M | (m) | (m) | 9.14× | Reported |
| 2023-09-30 | (m) | (m) | $357.00M | $4.86B | $554.00M | (m) | (m) | 8.77× | Reported |
| 2023-06-30 | (m) | (m) | $364.00M | $4.65B | $527.00M | (m) | (m) | 8.83× | Reported |
| 2023-03-31 | (m) | (m) | $361.00M | $4.56B | $495.00M | (m) | (m) | 9.21× | Reported |
| 2022-12-31 | (m) | (m) | $367.00M | $4.28B | $469.00M | (m) | (m) | 9.13× | Reported |
| 2022-09-30 | (m) | (m) | $368.00M | $4.59B | $451.00M | (m) | (m) | 10.17× | Reported |
| 2022-06-30 | (m) | (m) | $366.00M | $4.54B | $440.00M | (m) | (m) | 10.31× | Reported |
| 2022-03-31 | (m) | (m) | $375.00M | $4.40B | $436.00M | (m) | (m) | 10.09× | Reported |
| 2021-12-31 | (m) | (m) | $348.00M | $4.31B | $444.00M | (m) | (m) | 9.71× | Reported |
| 2021-09-30 | (m) | (m) | $334.00M | $3.90B | $463.00M | (m) | (m) | 8.42× | Reported |
| 2021-06-30 | (m) | (m) | $319.00M | $3.70B | $484.00M | (m) | (m) | 7.64× | Reported |
| 2021-03-31 | (m) | (m) | $296.00M | $3.35B | $506.00M | (m) | (m) | 6.63× | Reported |
| 2020-12-31 | (m) | (m) | $290.00M | $3.07B | $515.00M | (m) | (m) | 5.95× | Reported |
| 2020-09-30 | (m) | (m) | $287.00M | $3.09B | $517.00M | (m) | (m) | 5.97× | Reported |
| 2020-06-30 | (m) | (m) | $282.00M | $3.01B | $522.00M | (m) | (m) | 5.77× | Reported |
| 2020-03-31 | (m) | (m) | $267.00M | $2.81B | $531.00M | (m) | (m) | 5.29× | Reported |
| 2019-12-31 | (m) | (m) | $252.00M | $2.68B | $524.00M | (m) | (m) | 5.11× | Reported |
| 2019-09-30 | (m) | (m) | $231.00M | $2.71B | $486.00M | (m) | (m) | 5.57× | Reported |
| 2019-06-30 | (m) | (m) | $211.00M | $2.78B | $422.00M | (m) | (m) | 6.59× | Reported |
| 2019-03-31 | (m) | (m) | (m) | $2.79B | $349.00M | (m) | (m) | 8.00× | Reported |
| 2018-12-31 | (m) | (m) | $193.00M | $2.76B | $290.00M | (m) | (m) | 9.52× | Reported |
| 2018-09-30 | (m) | (m) | (m) | $2.81B | $257.00M | (m) | (m) | 10.93× | Reported |
| 2018-06-30 | (m) | (m) | (m) | $2.80B | $248.00M | (m) | (m) | 11.31× | Reported |
| 2018-03-31 | (m) | (m) | (m) | $3.02B | $240.00M | (m) | (m) | 12.56× | Reported |
| 2017-12-31 | (m) | (m) | $149.00M | $2.86B | $237.00M | (m) | (m) | 12.05× | Reported |
| 2017-09-30 | (m) | (m) | (m) | $2.80B | $226.00M | (m) | (m) | 12.40× | Reported |
| 2017-06-30 | (m) | (m) | (m) | $2.78B | $213.00M | (m) | (m) | 13.04× | Reported |
| 2017-03-31 | (m) | (m) | (m) | $2.74B | $201.00M | (m) | (m) | 13.63× | Reported |
| 2016-12-31 | (m) | (m) | $109.00M | $2.66B | $189.00M | (m) | (m) | 14.10× | Reported |
| 2016-09-30 | (m) | (m) | (m) | $2.63B | $187.00M | (m) | (m) | 14.04× | Reported |
| 2016-06-30 | (m) | (m) | (m) | $2.51B | $181.00M | (m) | (m) | 13.89× | Reported |
| 2016-03-31 | (m) | (m) | (m) | $2.42B | $173.00M | (m) | (m) | 13.97× | Reported |
| 2015-12-31 | (m) | (m) | $88.00M | $2.42B | $163.00M | (m) | (m) | 14.84× | Reported |
| 2015-09-30 | (m) | (m) | (m) | $2.36B | $153.00M | (m) | (m) | 15.43× | Reported |
| 2015-06-30 | (m) | (m) | (m) | $2.35B | $157.00M | (m) | (m) | 14.94× | Reported |
| 2015-03-31 | (m) | (m) | (m) | $2.36B | $159.00M | (m) | (m) | 14.86× | Reported |
| 2014-12-31 | (m) | (m) | $93.00M | $2.30B | $165.00M | (m) | (m) | 13.95× | Reported |
| 2014-09-30 | (m) | (m) | (m) | $2.25B | $172.00M | (m) | (m) | 13.10× | Reported |
| 2014-06-30 | (m) | (m) | (m) | $2.21B | $167.00M | (m) | (m) | 13.25× | Reported |
| 2014-03-31 | (m) | (m) | (m) | $2.14B | $165.00M | (m) | (m) | 12.99× | Reported |
| 2013-12-31 | (m) | (m) | (m) | $2.08B | $167.00M | (m) | (m) | 12.44× | Reported |
| 2013-09-30 | (m) | (m) | (m) | $1.99B | $170.00M | (m) | (m) | 11.73× | Reported |
| 2013-06-30 | (m) | (m) | (m) | $1.97B | $174.00M | (m) | (m) | 11.31× | Reported |
| 2013-03-31 | (m) | (m) | (m) | $1.91B | $179.00M | (m) | (m) | 10.66× | Reported |
| 2012-12-31 | (m) | (m) | (m) | $1.83B | $181.00M | (m) | (m) | 10.10× | Reported |
| 2012-09-30 | (m) | (m) | (m) | $1.81B | $185.00M | (m) | (m) | 9.81× | Reported |
| 2012-06-30 | (m) | (m) | (m) | $1.75B | $190.00M | (m) | (m) | 9.19× | Reported |
| 2012-03-31 | (m) | (m) | (m) | $1.69B | $194.00M | (m) | (m) | 8.73× | Reported |
| 2011-12-31 | (m) | (m) | (m) | $1.64B | $199.00M | (m) | (m) | 8.23× | Reported |
| 2011-09-30 | (m) | (m) | (m) | $1.57B | $202.00M | (m) | (m) | 7.78× | Reported |
| 2011-06-30 | (m) | (m) | (m) | $1.50B | $213.00M | (m) | (m) | 7.05× | Reported |
| 2011-03-31 | (m) | (m) | (m) | $986.00M | $224.00M | (m) | (m) | 4.40× | Reported |
| 2010-12-31 | (m) | (m) | (m) | $939.00M | $233.00M | (m) | (m) | 4.03× | Reported |
| 2010-09-30 | (m) | (m) | (m) | $586.00M | $241.00M | (m) | (m) | 2.43× | Reported |
| 2010-06-30 | (m) | (m) | (m) | $273.00M | $240.00M | (m) | (m) | 1.14× | Reported |
| 2010-03-31 | (m) | (m) | (m) | $624.00M | $245.00M | (m) | (m) | 2.55× | Reported |
| 2009-12-31 | (m) | (m) | (m) | $509.00M | $241.00M | (m) | (m) | 2.11× | Reported |
| 2009-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-12-31 | (m) | (m) | (m) | $248.00M | $220.00M | (m) | (m) | 1.13× | Reported |
| 2008-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2007-12-31 | (m) | (m) | (m) | $854.00M | $267.00M | (m) | (m) | 3.20× | Reported |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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