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STOCK COMPARISON

Marsh & McLennan Companies vs Ryan Specialty Group Holdings: Fair Value & Quality

Both stocks run through our valuation models. Here is how Marsh & McLennan Companies (MRSH) and Ryan Specialty Group Holdings (RYAN) compare, as of Oct 4, 2026.

As of Oct 4, 2026, Fair Value Calculator sees Marsh & McLennan Companies as the less overvalued of the two: Marsh & McLennan Companies trades at $170 versus a fair value of $78.64 (−53.8%), while Ryan Specialty Group Holdings trades at $37.67 versus $5.22 (−86.1%).
Marsh & McLennan Companies
MRSH · USD · Financials
−53.8%
upside to fair value
overvalued
Price$170
Fair Value$78.64
Quality63/100
Ryan Specialty Group Holdings
RYAN · USD · Financials
−86.1%
upside to fair value
overvalued
Price$37.67
Fair Value$5.22
Quality58/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Marsh & McLennan CompaniesRyan Specialty Group Holdings
Valuation
20.8×P/E (TTM)50.9×
14.9×Forward P/E (FY2027)15.6×
2.95×P/S (TTM)3.05×
5.45× · book value is mostly goodwillP/B14.90× · book value is mostly goodwill
12.6×EV/EBITDA14.1×
1.50×PEGn/a
−53.8%Fair value upside−86.1%
2.2%Dividend yield1.3%
$3.69Dividend per share$0.50
Profitability
26.3%Operating margin25.0%
1.30×EBIT margin trend (5Y)2.63×
25.9%Return on equity22.1%
7.2%Return on assets3.5%
Growth
6.2%Revenue growth (YoY)7.4%
9.2%Avg. growth/yr (3Y)20.9%
9.4%Avg. growth/yr (5Y)24.5%
+18.8%Value creation/yr−16.9%
Balance & size
6.5×Interest coverage (EBIT/interest)2.8×
1.21×Debt / equity5.08×
$82BMarket cap$10B
healthyGrowth qualitymixed
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Marsh & McLennan Companies leads: 11 to 3 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Marsh & McLennan Companiesof which business quality 60 · market factors 48 Ryan Specialty Group Holdingsof which business quality 53 · market factors 39
ProfitabilityMargins and returns on capital today
55
29
Quality GrowthAre margins and returns improving?
50
55
CashflowEarnings quality: real cash, not paper profit
75
86
Fin. StrengthBalance sheet, leverage, solvency risk
35
5
InvestmentDisciplined investing over empire-building
62
69
Low VolatilityCalm price path (market factor)
84
65
MomentumPrice trend over the last 3–12 months (market factor)
37
35
52W MomentumDistance to the 52-week high (market factor)
23
15
Net IssuanceShare count: buybacks or dilution?
93
100

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyMarsh & McLennan CompaniesPrice $170Ryan Specialty Group HoldingsPrice $37.67
Dividend Discount−64.3%below the price$60.68−77.9%below the price$8.33
Multiples−53.7%below the price$78.82−81.2%below the price$7.09
Asset-Based−87.5%below the price$21.20−90.5%below the price$3.56
Economic Profit−62.5%below the price$63.81−86.5%below the price$5.07
Minimum−87.5%below the price$21.20−90.5%below the price$3.56
Maximum−53.7%below the price$78.82−77.9%below the price$8.33
Median−63.4%below the price$62.25−83.9%below the price$6.08
Geometric mean−70.3%below the price$50.43−84.8%below the price$5.71

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Marsh & McLennan Companies: 6 of 6 models see the stock below the current price.

Ryan Specialty Group Holdings: 6 of 6 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Marsh & McLennan Companies
Price $170
Fair Value $78.64
Bear $53.56Bull $137
Ryan Specialty Group Holdings
Price $37.67
Fair Value $5.22
Bear $4.69Bull $6.82

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Marsh & McLennan Companies · Financials

Quality score63 · Top 25%
Fair value upside−53.8% · bottom 25%

Ryan Specialty Group Holdings · Financials

Quality score58 · above median
Fair value upside−86.1% · bottom 25%

Bottom line

As of Oct 4, 2026, Fair Value Calculator sees Marsh & McLennan Companies as the less overvalued of the two: Marsh & McLennan Companies trades at $170 versus a fair value of $78.64 (−53.8%), while Ryan Specialty Group Holdings trades at $37.67 versus $5.22 (−86.1%).

Marsh & McLennan Companies has the higher quality score (63/100).

Open Marsh & McLennan Companies live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.