Is Marsh & McLennan Cos., Inc. overvalued or undervalued?

As of 31 October 2025, the valuation grade for Marsh & McLennan Cos., Inc. moved from fair to expensive, indicating that the stock is overvalued. Key valuation ratios reveal a P/E ratio of 29, a Price to Book Value of 8.96, and an EV to EBITDA of 17.47, all suggesting a premium valuation relative to its peers. In comparison, Aon Plc has a P/E of 29.25 and Arthur J. Gallagher & Co. has a significantly higher P/E of 45.99, further emphasizing Marsh & McLennan's elevated valuation.
Recent stock performance shows that Marsh & McLennan has underperformed against the S&P 500 across multiple periods, with a year-to-date return of -15.02% compared to the S&P 500's 16.30%. This underperformance, coupled with its expensive valuation metrics, reinforces the conclusion that the company is currently overvalued.