Marsh & Mclennan Companies vs Travelers Companies (MMC vs TRV)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Travelers Companies is the larger company by revenue ($48.8B vs $27.0B). Marsh & Mclennan Companies carries the larger market value ($86.0B vs $72.6B). Travelers Companies has grown revenue faster over the last 4 fiscal years (+40.2% cumulative vs +36.1%). Travelers Companies trades at the lower trailing P/E (10.2x vs 22.3x).
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.
About Travelers Companies
Travelers Companies, Inc. provides commercial and personal property and casualty insurance products and services to businesses, government units, associations, and individuals. Its offerings include various insurance coverages such as commercial multi-peril, workers' compensation, general liability, and commercial property insurance, serving customers primarily in the United States, the United Kingdom, and the Republic of Ireland. The company also operates a Lloyd's syndicate underwriting marine, energy, property, aviation, and special risks insurance.
Head to head (MMC FY2025 vs TRV FY2025)
| Metric | MMCFY2025 | TRVFY2025 |
|---|---|---|
| Revenue | $26.98B | $48.83B |
| Revenue growth (YoY) | 10.3% | 5.2% |
| Gross margin | — | — |
| Operating margin | 23.1% | — |
| Net margin | 15.4% | 12.9% |
| Net income | $4.16B | $6.29B |
| Diluted EPS | $8.43 | $27.43 |
| FCF margin | 18.5% | — |
| ROE | 27.2% | 19.1% |
| Debt / equity | 1.2× | — |
| Market cap | $86.02B | $72.62B |
| P/E (TTM) | 22.3× | 10.2× |
Fundamentals are from each company’s SEC filings (MMC FY2025, TRV 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 |
|---|---|---|---|---|---|
| MMC | $19.82B | $20.72B | $22.74B | $24.46B | $26.98B |
| TRV | $34.82B | $36.88B | $41.36B | $46.42B | $48.83B |
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 | MMC | TRV |
|---|---|---|
| Net margin | 15.4%69th percentile of 82 | 12.9%57th percentile of 82 |
| Revenue growth (YoY) | +10.3%54th percentile of 88 | +5.2%33rd percentile of 88 |
| ROE | 27.2%83rd percentile of 73 | 19.1%71st percentile of 73 |
| P/E (TTM) | 22.3×80th percentile of 71 | 10.2×36th percentile of 71 |
| Short interest (days to cover) | 2.08d28th percentile of 86 | 2.86d48th percentile of 86 |
Short interest
| FINRA settlement data | MMC | TRV |
|---|---|---|
| Shares sold short | 5.0M | 7.9M |
| Change vs prior settlement | -5.2% | +32.7% |
| Days to cover | 2.08 | 2.86 |
| As of settlement | 2025-12-31 | 2026-06-30 |
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 | MMC | TRV |
|---|---|---|
| Buys | — | 0 |
| Sells | — | 7 ($7.0M) |
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.