MRSH vs WTW
Marsh & Mclennan Companies, Inc. and Willis Towers Watson PLC, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | MRSH | WTW |
|---|---|---|
| Revenue | $27.0B | $9.7B |
| Net income | $4.2B | $1.6B |
| Gross margin | · | · |
| Net margin | 15.7% | 16.6% |
| Return on equity | 28.8% | 20.2% |
| Diluted EPS | $8.43 | $16.26 |
| Dividend / share | $3.43 | $3.68 |
| Payout ratio | 40.8% | 22.3% |
| Free cash flow | $5.0B | $1.5B |
| Equity | · | $8.0B |
| Net debt / equity | 1.10× | 0.40× |
| Current ratio | 1.10× | 1.20× |
| Revenue CAGR 5y | 9.4% | 2.4% |
| Profit CAGR 5y | 15.6% | 10.0% |
MRSH bills 2.8× the revenue of WTW, and WTW keeps more of each dollar of revenue as profit (16.6% against 15.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | MRSH | WTW |
|---|---|---|
| FY2025 | $27.0B | $9.7B |
| FY2024 | $24.5B | $9.9B |
| FY2023 | $22.7B | $9.5B |
| FY2022 | $20.7B | $8.9B |
| FY2021 | $19.8B | $9.0B |
| FY2020 | $17.2B | $8.6B |
| FY2019 | $16.7B | $8.4B |
| FY2018 | $14.9B | $8.5B |
| FY2017 | $14.0B | $8.2B |
| FY2016 | $13.2B | $7.9B |
Bottom line
| Fiscal year | MRSH | WTW |
|---|---|---|
| FY2025 | $4.2B | $1.6B |
| FY2024 | $4.1B | $-98.0M |
| FY2023 | $3.8B | $1.1B |
| FY2022 | $3.0B | $1.0B |
| FY2021 | $3.1B | $4.2B |
| FY2020 | $2.0B | $996.0M |
| FY2019 | $1.7B | $1.0B |
| FY2018 | $1.6B | $695.0M |
| FY2017 | $1.5B | $568.0M |
| FY2016 | $1.8B | $420.0M |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$17,273,000,000 | MRSH |
| FY2024 | +$14,528,000,000 | MRSH |
| FY2023 | +$13,253,000,000 | MRSH |
| FY2022 | +$11,854,000,000 | MRSH |
| FY2021 | +$10,822,000,000 | MRSH |
| FY2020 | +$8,609,000,000 | MRSH |
| FY2019 | +$8,282,000,000 | MRSH |
| FY2018 | +$6,437,000,000 | MRSH |
| FY2017 | +$5,822,000,000 | MRSH |
| FY2016 | +$5,324,000,000 | MRSH |
| FY2015 | +$9,064,000,000 | MRSH |
| FY2014 | +$9,149,000,000 | MRSH |
| FY2013 | +$8,606,000,000 | MRSH |
| FY2012 | +$8,444,000,000 | MRSH |
| FY2011 | +$8,079,000,000 | MRSH |
| FY2010 | +$7,218,000,000 | MRSH |
| FY2009 | +$6,578,000,000 | MRSH |
| FY2008 | +$7,903,000,000 | MRSH |
MRSH has reported the higher revenue in every one of these 18 fiscal years. The gap has widened since the earliest year compared.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −0.9 pp | WTW |
| FY2024 | +17.7 pp | MRSH |
| FY2023 | +5.5 pp | MRSH |
| FY2022 | +3.3 pp | MRSH |
| FY2021 | −31.1 pp | WTW |
| FY2020 | +0.0 pp | MRSH |
| FY2019 | −2.2 pp | WTW |
| FY2018 | +2.8 pp | MRSH |
| FY2017 | +3.6 pp | MRSH |
| FY2016 | +8.0 pp | MRSH |
| FY2015 | +2.7 pp | MRSH |
| FY2014 | +1.7 pp | MRSH |
| FY2013 | +1.0 pp | MRSH |
| FY2012 | +22.5 pp | MRSH |
| FY2011 | +2.4 pp | MRSH |
| FY2010 | −5.8 pp | WTW |
| FY2009 | −11.7 pp | WTW |
| FY2008 | −12.0 pp | WTW |
The higher net margin has changed hands between MRSH and WTW over this period.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WTW's net margin has been more volatile than MRSH's over the 18 comparable fiscal years — 10.9 percentage points of standard deviation against 4.5.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MRSH and WTW over these 18 fiscal years — MRSH led in 12 and WTW in 6.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WTW's return on equity has been more volatile than MRSH's over the 18 comparable fiscal years — 11.3 percentage points of standard deviation against 8.7.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between MRSH and WTW over these 18 fiscal years — MRSH led in 13 and WTW in 5.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.