Stock fact sheet · data as of
Marsh & McLennan Companies, Inc. (MRSH): fair value, margin of safety and Wheel Score
Financial Services · Insurance - Brokers · United States · Quality / Blue-Chip
Is MRSH undervalued?
MRSH closed at 186.54 on 16 Oct 2026, which is 18% above the GLS average fair value of 158.32 from 9 models. 5 of them value the shares below today's price. Our screens read that as "no margin of safety": the stock is not a value candidate at this price, whatever the quality numbers say.
The 9 models disagree widely: DDM gives 55.62 while Payback Time gives 247.54. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files MRSH under Quality / Blue-Chip: a high moat score and a high health score together.
Nine valuation models for MRSH
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 237.53 | +27% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 77.35 | -59% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 227.70 | +22% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 80.36 | -57% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 174.46 | -6% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 230.01 | +23% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 247.54 | +33% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 55.62 | -70% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 94.33 | -49% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -42.32 | -123% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 202.71 | +9% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health MRSH scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is 8.7 out of 10, built from ten years of revenue, earnings, margins, cash flow, share count and returns on capital scored for consistency - a high reading that points to a durable business.
Returns on capital are moderate - ROIC 11.4%, ROE 27.5%, ROA 7.1% - with debt at 1.42 times equity and a free-cash-flow yield of 4.7%.
The dividend yield is 2.03% at a payout ratio of 44%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Risk and Insurance Services 65%, Consulting 35% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 1/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 11.4% |
|---|---|---|---|
| GLS Moat | 8.7 / 10 | ROE | 27.5% |
| Debt / equity | 1.42 | ROA | 7.1% |
| Free-cash-flow yield | 4.7% | Payout ratio | 44% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 1 / 10 |
Wheel Score 68: Good
MRSH scores 68 out of 100 on the Wheel Score (Good band, 65-79). The score blends the margin of safety (Value, 5/25), Piotroski health (16/20), the GLS moat (13/15), the option premium on offer (14/20) and how easily the stock trades (20/20). Value (5/25) is the part holding the score back.
Implied volatility is 29% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (14 of 20 points). Chain open interest is 18,009 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 4.2M shares a day on a market cap of $89.0B, with a beta of 0.58 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 20 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 5 / 25 | -18% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 13 / 15 | moat 8.7/10 | |
| Premium | 14 / 20 | implied volatility 29% | |
| Stability | 20 / 20 | 4.2M shares/day, $89.0B cap, beta 0.58 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for MRSH in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Insurance - Brokers
The 12 companies below are the closest to Marsh & McLennan Companies, Inc. by market cap within the Insurance - Brokers industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| AJG Arthur J. Gallagher & Co. | 250.10 | 152.67 | -64% | 62Fair | $64.1B |
| AON Aon plc | 286.80 | 403.95 | +29% | 89Prime | $60.8B |
| WTW Willis Towers Watson Public Limited Company | 297.09 | 377.39 | +21% | 81Prime | $27.6B |
| BRO Brown & Brown, Inc. | 67.98 | 87.34 | +22% | 87Prime | $22.7B |
| RYAN Ryan Specialty Holdings, Inc. | 38.00 | 37.02 | -3% | 73Good | $4.6B |
| CRVL CorVel Corporation | 80.29 | 64.08 | -25% | 58Fair | $4.1B |
| NP Neptune Insurance Holdings Inc. | 29.45 | 10.62 | -177% | 62Fair | $2.8B |
| BWIN The Baldwin Insurance Group, Inc. | 31.93 | 25.55 | -25% | 45Weak | $2.6B |
| LIFE Ethos Technologies Inc. | 38.76 | 15.70 | -147% | 23Weak | $2.5B |
| GSHD Goosehead Insurance, Inc | 45.60 | 65.62 | +31% | 73Good | $1.7B |
| WDH Waterdrop Inc. | 1.03 | 51.43 | +98% | 39No options | $373M |
| TWFG TWFG, Inc. Common Stock | 24.11 | 27.32 | +12% | 39No options | $311M |
⚖ Compare MRSH with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about MRSH
Is MRSH undervalued right now?
No: at 186.54 the stock trades 18% above the GLS average fair value of 158.32 (data as of 16 Oct 2026). The margin of safety is negative.
What is the Wheel Score of MRSH and what does it mean?
MRSH scores 68 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for MRSH?
158.32 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Marsh & McLennan Companies, Inc. report earnings next?
No upcoming earnings date is recorded for MRSH in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does MRSH have listed options, and how liquid are they?
Yes. The nightly snapshot found 396 listed contracts with 18,009 open interest across all expiries and implied volatility of 29% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.