Marsh Quarterly Cash Flow Statement
NYSE: MRSHFinanceSpecialty InsurersUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Marsh free cash flow
In the quarter ended Jun 30, 2026, Marsh generated $1.52 billion of operating cash flow and spent $72.0 million on capital expenditures. That left free cash flow of $1.45 billion, a free-cash-flow margin of 19.6% of revenue. Free cash flow was down 10.0% from the prior year's $1.61 billion.
Marsh returned $1.20 billion to shareholders: $438.0 million in dividends and $757.0 million in share repurchases, equal to 82% of free cash flow. Free cash flow covered dividend payments 3.3 times.
Summary generated from market data by MetaCap's automated system. Methodology
Marsh cash flow statement (quarterly)
| Quarter (USD) | Q2 20262026-06-30 | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 1.29B | 1.19B | 834.00M | 757.00M | 1.23B | 1.41B | 801.00M | 752.00M | 1.14B | 1.42B | 765.00M | 738.00M |
| Net Income growth (YoY) | +4.87% | -16.01% | +4.12% | +0.66% | +7.98% | -0.84% | +4.71% | +1.90% | +8.88% | +13.74% | +62.42% | +33.70% |
| Depreciation & Amortization | 90.00M | 89.00M | 91.00M | 91.00M | 91.00M | 88.00M | 93.00M | 90.00M | 87.00M | 99.00M | 100.00M | 95.00M |
| Stock-Based Compensation | 96.00M | 139.00M | 89.00M | 95.00M | 98.00M | 112.00M | 85.00M | 90.00M | 90.00M | 103.00M | 90.00M | 82.00M |
| Change in Working Capital | -647.00M | -197.00M | 510.00M | 338.00M | -414.00M | -469.00M | 620.00M | 285.00M | -586.00M | -731.00M | 370.00M | 246.00M |
| Operating Cash Flow | 1.52B | -688.00M | 2.16B | 2.08B | 1.67B | -622.00M | 1.96B | 1.91B | 1.22B | -781.00M | 1.78B | 1.81B |
| Capital Expenditures | -72.00M | -62.00M | -105.00M | -72.00M | -59.00M | -55.00M | -76.00M | -73.00M | -80.00M | -87.00M | -120.00M | -111.00M |
| Investing Cash Flow | -161.00M | -104.00M | -523.00M | -227.00M | -121.00M | 26.00M | -7.64B | -393.00M | -415.00M | -368.00M | -474.00M | -442.00M |
| Dividends Paid | -438.00M | -440.00M | -444.00M | -445.00M | -405.00M | -405.00M | -403.00M | -404.00M | -352.00M | -354.00M | -354.00M | -353.00M |
| Share Repurchases | -757.00M | -755.00M | -1.01B | -402.00M | -300.00M | -300.00M | 0 | -300.00M | -300.00M | -300.00M | -250.00M | -300.00M |
| Debt Issued | 0 | 595.00M | 0 | 0 | 0 | 0 | 7.18B | 0 | -1.00M | 989.00M | -1.00M | 1.58B |
| Debt Repaid | -5.00M | -605.00M | -5.00M | -4.00M | -5.00M | -505.00M | -4.00M | -4.00M | -605.00M | -1.00B | -254.00M | -4.00M |
| Financing Cash Flow | -800.00M | 114.00M | -2.05B | -753.00M | -1.70B | -138.00M | 6.28B | -1.44B | -519.00M | 135.00M | -2.33B | 988.00M |
| Net Change in Cash | 548.00M | -805.00M | -352.00M | 964.00M | 365.00M | -491.00M | -47.00M | 571.00M | 240.00M | -1.24B | -577.00M | 1.99B |
| Free Cash Flow | 1.45B | -750.00M | 2.06B | 2.01B | 1.61B | -677.00M | 1.88B | 1.84B | 1.14B | -868.00M | 1.66B | 1.70B |
This table shows 12 quarterly periods of Marsh's cash flow statement, from Q2 2026 back to Q3 2023, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow MRSH's reporting calendar. What is a cash flow statement?