American International Group vs Marsh McLennan
Add, change or remove companies; up to four.
The short version
- Marsh McLennan is the larger business, with $27.0B of revenue in fiscal 2025 against $26.8B for American International Group.
- Marsh McLennan grew revenue faster (10.3%, against −1.8%).
- Marsh McLennan earned a higher return on the capital invested in it (15.0%, against 9.3%).
- Investors pay more for each dollar of Marsh McLennan’s earnings: a P/E of 23.6x against 14.9x for American International Group.
| Latest fiscal year | AIG · FY25 | MRSH · FY25 |
|---|---|---|
| Size | ||
| Market cap | $43.4B | $94.6B |
| Revenue | $26.8B | $27.0B |
| Free cash flow | — | $5.0B |
| Net income | $3.1B | $4.2B |
| Growth | ||
| Revenue growth | −1.8% | 10.3% |
| 5-year growth | −9.4% | 9.4% |
| Share count change | −13.2% | −0.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 23.1% |
| Net margin | 11.6% | 15.4% |
| FCF margin | — | 18.5% |
| Return on capital | 9.3% | 15.0% |
| Return on equity | 7.4% | 28.8% |
| Balance sheet | ||
| Net debt | −$3.3B | $16.9B |
| Net debt / EBITDA | −0.4x | 2.6x |
| Dividends and buybacks | $6.8B | $3.7B |
| Valuation & quality | ||
| P/E | 14.9x | 23.6x |
| Piotroski F-score | — | 5 |
FY16
AIG $52.4B
MRSH $13.2B
FY17
AIG $49.5B
MRSH $14.0B
FY18
AIG $47.4B
MRSH $15.0B
FY19
AIG $49.7B
MRSH $16.7B
FY20
AIG $43.7B
MRSH $17.2B
FY21
AIG $52.2B
MRSH $19.8B
FY22
AIG $30.0B
MRSH $20.7B
FY23
AIG $27.9B
MRSH $22.7B
FY24
AIG $27.3B
MRSH $24.5B
FY25
AIG $26.8B
MRSH $27.0B
AIG
MRSH
FY16
AIG —
MRSH 18.4%
FY17
AIG —
MRSH 18.9%
FY18
AIG —
MRSH 18.5%
FY19
AIG —
MRSH 16.1%
FY20
AIG —
MRSH 17.8%
FY21
AIG —
MRSH 21.8%
FY22
AIG —
MRSH 20.7%
FY23
AIG —
MRSH 23.2%
FY24
AIG —
MRSH 23.8%
FY25
AIG —
MRSH 23.1%
AIG
MRSH
FY16
AIG $2.4B
MRSH $1.8B
FY17
AIG −$8.3B
MRSH $1.6B
FY18
AIG −$762M
MRSH $2.1B
FY19
AIG −$2.1B
MRSH $1.9B
FY20
AIG $685M
MRSH $3.0B
FY21
AIG $5.9B
MRSH $3.1B
FY22
AIG $3.9B
MRSH $3.0B
FY23
AIG $6.0B
MRSH $3.8B
FY24
AIG —
MRSH $4.0B
FY25
AIG —
MRSH $5.0B
AIG
MRSH
FY16
AIG 0.9%
MRSH 17.9%
FY17
AIG 1.5%
MRSH 13.9%
FY18
AIG 1.0%
MRSH 16.9%
FY19
AIG 6.3%
MRSH 11.9%
FY20
AIG −5.4%
MRSH 11.5%
FY21
AIG 14.4%
MRSH 16.5%
FY22
AIG 4.7%
MRSH 15.6%
FY23
AIG —
MRSH 18.4%
FY24
AIG 7.3%
MRSH 16.3%
FY25
AIG 9.3%
MRSH 15.0%
AIG
MRSH
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.