MARSH & MCLENNAN COS (MSN.DE) Stock Fundamental Analysis

FRA:MSN • US5717481023

144.25 EUR
-1.45 (-1%)
Last: Feb 12, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

Taking everything into account, MSN scores 5 out of 10 in our fundamental rating. MSN was compared to 43 industry peers in the Insurance industry. MSN has an excellent profitability rating, but there are some minor concerns on its financial health. MSN is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • MSN had positive earnings in the past year.
  • MSN had a positive operating cash flow in the past year.
  • Each year in the past 5 years MSN has been profitable.
  • Each year in the past 5 years MSN had a positive operating cash flow.
MSN.DE Yearly Net Income VS EBIT VS OCF VS FCFMSN.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

1.2 Ratios

  • MSN has a better Return On Assets (7.09%) than 97.67% of its industry peers.
  • Looking at the Return On Equity, with a value of 27.16%, MSN belongs to the top of the industry, outperforming 95.35% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 13.16%, MSN belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for MSN is significantly above the industry average of 2.92%.
Industry RankSector Rank
ROA 7.09%
ROE 27.16%
ROIC 13.16%
ROA(3y)7.36%
ROA(5y)7.63%
ROE(3y)29.47%
ROE(5y)29.19%
ROIC(3y)13.42%
ROIC(5y)13.17%
MSN.DE Yearly ROA, ROE, ROICMSN.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

1.3 Margins

  • MSN has a Profit Margin of 15.42%. This is amongst the best in the industry. MSN outperforms 90.70% of its industry peers.
  • MSN's Profit Margin has improved in the last couple of years.
  • The Operating Margin of MSN (24.22%) is better than 88.37% of its industry peers.
  • MSN's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 24.22%
PM (TTM) 15.42%
GM N/A
OM growth 3Y0.51%
OM growth 5Y3.67%
PM growth 3Y1.56%
PM growth 5Y5.67%
GM growth 3YN/A
GM growth 5YN/A
MSN.DE Yearly Profit, Operating, Gross MarginsMSN.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • MSN has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • MSN has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, MSN has less shares outstanding
  • MSN has a better debt/assets ratio than last year.
MSN.DE Yearly Shares OutstandingMSN.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
MSN.DE Yearly Total Debt VS Total AssetsMSN.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B 50B

2.2 Solvency

  • The Debt to FCF ratio of MSN is 3.92, which is a good value as it means it would take MSN, 3.92 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of MSN (3.92) is worse than 69.77% of its industry peers.
  • A Debt/Equity ratio of 1.20 is on the high side and indicates that MSN has dependencies on debt financing.
  • The Debt to Equity ratio of MSN (1.20) is worse than 79.07% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.2
Debt/FCF 3.92
Altman-Z N/A
ROIC/WACC1.7
WACC7.72%
MSN.DE Yearly LT Debt VS Equity VS FCFMSN.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.3 Liquidity

  • MSN has a Current Ratio of 1.10. This is a normal value and indicates that MSN is financially healthy and should not expect problems in meeting its short term obligations.
  • MSN's Current ratio of 1.10 is amongst the best of the industry. MSN outperforms 88.37% of its industry peers.
  • A Quick Ratio of 1.10 indicates that MSN should not have too much problems paying its short term obligations.
  • MSN has a Quick ratio of 1.10. This is amongst the best in the industry. MSN outperforms 88.37% of its industry peers.
Industry RankSector Rank
Current Ratio 1.1
Quick Ratio 1.1
MSN.DE Yearly Current Assets VS Current LiabilitesMSN.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • MSN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.80%, which is quite good.
  • The Earnings Per Share has been growing by 14.43% on average over the past years. This is quite good.
  • The Revenue has grown by 10.32% in the past year. This is quite good.
  • MSN shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.39% yearly.
EPS 1Y (TTM)10.8%
EPS 3Y12.54%
EPS 5Y14.43%
EPS Q2Q%13.37%
Revenue 1Y (TTM)10.32%
Revenue growth 3Y9.2%
Revenue growth 5Y9.39%
Sales Q2Q%8.7%

3.2 Future

  • The Earnings Per Share is expected to grow by 9.85% on average over the next years. This is quite good.
  • Based on estimates for the next years, MSN will show a small growth in Revenue. The Revenue will grow by 4.90% on average per year.
EPS Next Y8.68%
EPS Next 2Y8.91%
EPS Next 3Y8.87%
EPS Next 5Y9.85%
Revenue Next Year5.05%
Revenue Next 2Y5.11%
Revenue Next 3Y5.24%
Revenue Next 5Y4.9%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
MSN.DE Yearly Revenue VS EstimatesMSN.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 10B 20B 30B
MSN.DE Yearly EPS VS EstimatesMSN.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 5 10

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3

4. Valuation

4.1 Price/Earnings Ratio

  • MSN is valuated rather expensively with a Price/Earnings ratio of 17.57.
  • Compared to the rest of the industry, the Price/Earnings ratio of MSN indicates a slightly more expensive valuation: MSN is more expensive than 76.74% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of MSN to the average of the S&P500 Index (27.67), we can say MSN is valued slightly cheaper.
  • MSN is valuated correctly with a Price/Forward Earnings ratio of 16.16.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of MSN indicates a rather expensive valuation: MSN more expensive than 83.72% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of MSN to the average of the S&P500 Index (27.69), we can say MSN is valued slightly cheaper.
Industry RankSector Rank
PE 17.57
Fwd PE 16.16
MSN.DE Price Earnings VS Forward Price EarningsMSN.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • MSN's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. MSN is cheaper than 60.47% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, MSN is valued a bit more expensive than the industry average as 69.77% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 16.78
EV/EBITDA 13.54
MSN.DE Per share dataMSN.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • MSN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)2.02
PEG (5Y)1.22
EPS Next 2Y8.91%
EPS Next 3Y8.87%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. Dividend

5.1 Amount

  • MSN has a Yearly Dividend Yield of 1.92%.
  • Compared to an average industry Dividend Yield of 4.23, MSN's dividend is way lower than its industry peers. On top of this 83.72% of the companies listed in the same industry pay a better dividend than MSN!
  • MSN's Dividend Yield is comparable with the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 1.92%

5.2 History

  • On average, the dividend of MSN grows each year by 13.29%, which is quite nice.
Dividend Growth(5Y)13.29%
Div Incr Years0
Div Non Decr Years0
MSN.DE Yearly Dividends per shareMSN.DE Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • MSN pays out 40.84% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of MSN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP40.84%
EPS Next 2Y8.91%
EPS Next 3Y8.87%
MSN.DE Yearly Income VS Free CF VS DividendMSN.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B
MSN.DE Dividend Payout.MSN.DE Dividend Payout, showing the Payout Ratio.MSN.DE Dividend Payout.PayoutRetained Earnings

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MARSH & MCLENNAN COS

FRA:MSN (2/12/2026, 7:00:00 PM)

144.25

-1.45 (-1%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)01-29
Earnings (Next)04-15
Inst Owners91.61%
Inst Owner ChangeN/A
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap70.67B
Revenue(TTM)26.98B
Net Income(TTM)4.16B
Analysts69.33
Price Target184.1 (27.63%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.92%
Yearly Dividend2.95
Dividend Growth(5Y)13.29%
DP40.84%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)3.53%
Min EPS beat(2)1.65%
Max EPS beat(2)5.41%
EPS beat(4)3
Avg EPS beat(4)1.69%
Min EPS beat(4)-0.63%
Max EPS beat(4)5.41%
EPS beat(8)5
Avg EPS beat(8)1.23%
EPS beat(12)9
Avg EPS beat(12)1.4%
EPS beat(16)12
Avg EPS beat(16)1.55%
Revenue beat(2)0
Avg Revenue beat(2)-1.39%
Min Revenue beat(2)-1.52%
Max Revenue beat(2)-1.26%
Revenue beat(4)0
Avg Revenue beat(4)-1.58%
Min Revenue beat(4)-2.27%
Max Revenue beat(4)-1.26%
Revenue beat(8)1
Avg Revenue beat(8)-1.54%
Revenue beat(12)2
Avg Revenue beat(12)-1.16%
Revenue beat(16)2
Avg Revenue beat(16)-1.56%
PT rev (1m)3.72%
PT rev (3m)3.72%
EPS NQ rev (1m)1.56%
EPS NQ rev (3m)N/A
EPS NY rev (1m)1.77%
EPS NY rev (3m)5.55%
Revenue NQ rev (1m)1.05%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)1.02%
Revenue NY rev (3m)12.18%
Valuation
Industry RankSector Rank
PE 17.57
Fwd PE 16.16
P/S 3.11
P/FCF 16.78
P/OCF 15.86
P/B 5.48
P/tB N/A
EV/EBITDA 13.54
EPS(TTM)8.21
EY5.69%
EPS(NY)8.92
Fwd EY6.19%
FCF(TTM)8.6
FCFY5.96%
OCF(TTM)9.1
OCFY6.31%
SpS46.38
BVpS26.33
TBVpS-23.67
PEG (NY)2.02
PEG (5Y)1.22
Graham Number69.74
Profitability
Industry RankSector Rank
ROA 7.09%
ROE 27.16%
ROCE 17.36%
ROIC 13.16%
ROICexc 14.17%
ROICexgc 84.24%
OM 24.22%
PM (TTM) 15.42%
GM N/A
FCFM 18.54%
ROA(3y)7.36%
ROA(5y)7.63%
ROE(3y)29.47%
ROE(5y)29.19%
ROIC(3y)13.42%
ROIC(5y)13.17%
ROICexc(3y)14.71%
ROICexc(5y)14.27%
ROICexgc(3y)79.22%
ROICexgc(5y)69.06%
ROCE(3y)17.7%
ROCE(5y)17.38%
ROICexgc growth 3Y10.81%
ROICexgc growth 5Y14.57%
ROICexc growth 3Y-2.07%
ROICexc growth 5Y5.54%
OM growth 3Y0.51%
OM growth 5Y3.67%
PM growth 3Y1.56%
PM growth 5Y5.67%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.46
Health
Industry RankSector Rank
Debt/Equity 1.2
Debt/FCF 3.92
Debt/EBITDA 2.46
Cap/Depr 31.98%
Cap/Sales 1.08%
Interest Coverage 250
Cash Conversion 71.07%
Profit Quality 120.22%
Current Ratio 1.1
Quick Ratio 1.1
Altman-Z N/A
F-Score6
WACC7.72%
ROIC/WACC1.7
Cap/Depr(3y)45.02%
Cap/Depr(5y)50.96%
Cap/Sales(3y)1.43%
Cap/Sales(5y)1.72%
Profit Quality(3y)106.74%
Profit Quality(5y)103.48%
High Growth Momentum
Growth
EPS 1Y (TTM)10.8%
EPS 3Y12.54%
EPS 5Y14.43%
EPS Q2Q%13.37%
EPS Next Y8.68%
EPS Next 2Y8.91%
EPS Next 3Y8.87%
EPS Next 5Y9.85%
Revenue 1Y (TTM)10.32%
Revenue growth 3Y9.2%
Revenue growth 5Y9.39%
Sales Q2Q%8.7%
Revenue Next Year5.05%
Revenue Next 2Y5.11%
Revenue Next 3Y5.24%
Revenue Next 5Y4.9%
EBIT growth 1Y5.3%
EBIT growth 3Y9.75%
EBIT growth 5Y13.41%
EBIT Next Year21.42%
EBIT Next 3Y10.36%
EBIT Next 5Y8.64%
FCF growth 1Y25.46%
FCF growth 3Y18.64%
FCF growth 5Y10.51%
OCF growth 1Y23.01%
OCF growth 3Y15.16%
OCF growth 5Y9.37%

MARSH & MCLENNAN COS / MSN.DE FAQ

Can you provide the ChartMill fundamental rating for MARSH & MCLENNAN COS?

ChartMill assigns a fundamental rating of 5 / 10 to MSN.DE.


Can you provide the valuation status for MARSH & MCLENNAN COS?

ChartMill assigns a valuation rating of 3 / 10 to MARSH & MCLENNAN COS (MSN.DE). This can be considered as Overvalued.


Can you provide the profitability details for MARSH & MCLENNAN COS?

MARSH & MCLENNAN COS (MSN.DE) has a profitability rating of 8 / 10.


What are the PE and PB ratios of MARSH & MCLENNAN COS (MSN.DE) stock?

The Price/Earnings (PE) ratio for MARSH & MCLENNAN COS (MSN.DE) is 17.57 and the Price/Book (PB) ratio is 5.48.


What is the expected EPS growth for MARSH & MCLENNAN COS (MSN.DE) stock?

The Earnings per Share (EPS) of MARSH & MCLENNAN COS (MSN.DE) is expected to grow by 8.68% in the next year.