Allstate vs Marsh & Mclennan Companies (ALL vs MMC)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Allstate is the larger company by revenue ($67.7B vs $27.0B). Marsh & Mclennan Companies carries the larger market value ($86.0B vs $64.8B). Marsh & Mclennan Companies has grown revenue faster over the last 4 fiscal years (+36.1% cumulative vs +33.8%). Allstate trades at the lower trailing P/E (5.6x vs 22.3x).
About Allstate
Allstate Corporation is a major personal lines insurer in the United States offering auto, homeowners, and other personal property-liability insurance products. It serves customers through exclusive agents, independent agents, and direct channels under brands such as Allstate, National General, and Direct Auto. The company also provides consumer product protection plans, roadside assistance, identity protection, and mobility intelligence services using automotive telematics.
About Marsh & Mclennan Companies
Marsh & McLennan Companies, Inc. provides risk management, insurance and reinsurance brokerage, and consulting services worldwide. Its Risk and Insurance Services segment includes Marsh Risk, which offers insurance broking, risk advisory, and program management, and Guy Carpenter, which specializes in reinsurance broking and strategic advisory. The Consulting segment delivers health, wealth, career advice, and management consulting services through Mercer and Marsh Management Consulting to organizations globally.
Head to head (ALL FY2025 vs MMC FY2025)
| Metric | ALLFY2025 | MMCFY2025 |
|---|---|---|
| Revenue | $67.69B | $26.98B |
| Revenue growth (YoY) | 5.6% | 10.3% |
| Gross margin | — | — |
| Operating margin | — | 23.1% |
| Net margin | 15.2% | 15.4% |
| Net income | $10.28B | $4.16B |
| Diluted EPS | $38.06 | $8.43 |
| FCF margin | 14.6% | 18.5% |
| ROE | 33.6% | 27.2% |
| Debt / equity | 0.2× | 1.2× |
| Market cap | $64.77B | $86.02B |
| P/E (TTM) | 5.6× | 22.3× |
Fundamentals are from each company’s SEC filings (ALL FY2025, MMC FY2025). P/E and market cap are derived from recent market prices and update daily.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| ALL | $50.60B | $51.41B | $57.09B | $64.11B | $67.69B |
| MMC | $19.82B | $20.72B | $22.74B | $24.46B | $26.98B |
Peer standing
Where each company ranks among the 88 insurance companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | ALL | MMC |
|---|---|---|
| Net margin | 15.2%67th percentile of 82 | 15.4%69th percentile of 82 |
| FCF margin | 14.6%43rd percentile of 55 | 18.5%57th percentile of 55 |
| Revenue growth (YoY) | +5.6%37th percentile of 88 | +10.3%54th percentile of 88 |
| ROE | 33.6%92nd percentile of 73 | 27.2%83rd percentile of 73 |
| P/E (TTM) | 5.6×10th percentile of 71 | 22.3×80th percentile of 71 |
| Debt / equity | 0.24×53rd percentile of 48 | 1.20×87th percentile of 48 |
| Short interest (days to cover) | 3.55d64th percentile of 86 | 2.08d28th percentile of 86 |
Short interest
| FINRA settlement data | ALL | MMC |
|---|---|---|
| Shares sold short | 8.2M | 5.0M |
| Change vs prior settlement | -3.4% | -5.2% |
| Days to cover | 3.55 | 2.08 |
| As of settlement | 2026-06-30 | 2025-12-31 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 open-market activity | ALL | MMC |
|---|---|---|
| Buys | 0 | — |
| Sells | 3 ($4.9M) | — |
Open-market purchases and sales reported on SEC Form 4 (grants, exercises and tax withholding excluded). For context, about 16% of covered companies saw any open-market insider buy in a 90-day window.
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.