Willis Towers Watson Public Limited Company (WTW) Financials

WTW

Trailing 12 months to June 30, 2026

Revenue $10.1B +3.0% YoY

Net Income $1.6B +1042.3% YoY

EPS (Diluted) $16.16 +1088.2% YoY

Free Cash Flow $1.7B +43.3% YoY

Market Cap $26.8B as of Oct 2, 2026

Price / Sales 2.7x on $10.1B revenue, trailing 12 months to June 30, 2026

Price / Earnings 17.1x on $1.6B net income, trailing 12 months to June 30, 2026

Price / Book 3.5x on $7.7B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 30, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WTW SEC filings page.

Willis Towers Watson Public Limited Company (WTW) reported $10.1B in revenue over the twelve months to Jun 30, 2026, up 3.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI WTW FY2025 2026-10-03

WTW's FY2025 earnings rebounded despite lower revenue, while buybacks and borrowing increasingly shaped shareholder returns and balance-sheet leverage.

FY2025 cash conversion was credible: operating cash flow of $1.78B exceeded net income of $1.61B, showing reported profit was broadly converted into cash rather than relying mainly on noncash accounting. Free cash flow reached $1.55B after $229M of capital spending, indicating a relatively light recurring reinvestment burden; shareholder distributions and repurchases were more prominent uses of generated cash.

Revenue slipped from FY2024, while operating margin rose from 6.3% to 23.0% in FY2025. That divergence indicates the rebound came primarily through margin normalization—cost, mix, or other operating factors—rather than volume-led growth.

Debt-to-equity rose from 0.3x in FY2021 to 0.7x in FY2025. With the current ratio still near 1.2x, WTW is using more leverage without a comparable deterioration in short-term coverage, while the reduced share count also amplified per-share earnings recovery.

Financial Health Signals

Financial health score not available

Willis Towers Watson Public Limited Company does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

6/8

Willis Towers Watson Public Limited Company passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.11x

For every $1 of reported earnings, Willis Towers Watson Public Limited Company generates $1.11 in operating cash flow ($1.8B OCF vs $1.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

8.59x

Willis Towers Watson Public Limited Company earns $8.59 in operating income for every $1 of interest expense ($2.2B vs $260.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.5B

YoY+9.1%

QoQ+2.2%

5Y CAGR+3.4%

10Y CAGR+2.4%

Willis Towers Watson Public Limited Company generated $2.5B in revenue in Q2 2026. This represents an increase of 9.1% from the same quarter a year earlier. Against the prior quarter it is up 2.2%.

EBITDA

$474.0M

YoY-0.2%

QoQ-14.1%

5Y CAGR+6.9%

10Y CAGR+4.5%

Willis Towers Watson Public Limited Company's EBITDA was $474.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.2% from the same quarter a year earlier. Against the prior quarter it is down 14.1%.

Net Income

$229.0M

YoY-30.8%

QoQ-22.9%

5Y CAGR+4.5%

10Y CAGR+12.3%

Willis Towers Watson Public Limited Company reported $229.0M in net income in Q2 2026. This represents a decrease of 30.8% from the same quarter a year earlier. Against the prior quarter it is down 22.9%.

EPS (Diluted)

$2.43

YoY-26.8%

QoQ-21.6%

5Y CAGR+11.5%

10Y CAGR+16.9%

Willis Towers Watson Public Limited Company earned $2.43 per diluted share (EPS) in Q2 2026. This represents a decrease of 26.8% from the same quarter a year earlier. Against the prior quarter it is down 21.6%.

Cash & Balance Sheet

Free Cash Flow

$425.0M

YoY+40.3%

QoQ+753.8%

Willis Towers Watson Public Limited Company generated $425.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 40.3% from the same quarter a year earlier. Against the prior quarter it is up 753.8%.

Cash & Debt

$1.6B

YoY-17.1%

QoQ-12.3%

5Y CAGR-6.0%

10Y CAGR+5.5%

Willis Towers Watson Public Limited Company held $1.6B in cash against $5.8B in long-term debt as of Q2 2026.

Dividends Per Share

$0.96

YoY+4.3%

QoQ0.0%

Willis Towers Watson Public Limited Company paid $0.96 per share in dividends in Q2 2026. This represents an increase of 4.3% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

93M

YoY-4.8%

QoQ-1.7%

5Y CAGR-6.4%

10Y CAGR-3.9%

Willis Towers Watson Public Limited Company had 93M shares outstanding in Q2 2026. This represents a decrease of 4.8% from the same quarter a year earlier. Against the prior quarter it is down 1.7%.

Margins & Returns

Operating Margin

14.8%

YoY-1.5pp

QoQ-3.8pp

5Y change+6.6pp

10Y change+7.8pp

Willis Towers Watson Public Limited Company's operating margin was 14.8% in Q2 2026, reflecting core business profitability. This is down 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.8 percentage points.

Net Margin

9.3%

YoY-5.4pp

QoQ-3.0pp

5Y change+0.5pp

10Y change+5.6pp

Willis Towers Watson Public Limited Company's net profit margin was 9.3% in Q2 2026, showing the share of revenue converted to profit. This is down 5.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.0 percentage points.

Return on Equity

3.0%

YoY-1.1pp

QoQ-0.7pp

5Y change+1.4pp

10Y change+2.3pp

Willis Towers Watson Public Limited Company's ROE was 3.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$450.0M

YoY-10.0%

QoQ+50.0%

Willis Towers Watson Public Limited Company spent $450.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 10.0% from the same quarter a year earlier. Against the prior quarter it is up 50.0%.

Capital Expenditures

$59.0M

YoY+1.7%

QoQ+7.3%

Willis Towers Watson Public Limited Company invested $59.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 1.7% from the same quarter a year earlier. Against the prior quarter it is up 7.3%.

R&D Spending

Not reported for Q2 2026.

WTW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WTW quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$10.1B	$9.7B-2.2%	$9.9B+4.7%	$9.5B+7.0%	$8.9B-1.5%	$9.0B+4.4%	$8.6B+2.9%	$8.4B-1.7%	$8.5B+3.8%	$8.2B+4.0%	$7.9B+106.0%	$3.8B+0.7%	$3.8B+4.0%	$3.7B+5.0%	$3.5B+1.0%	$3.4B
SG&A Expenses	$5.8B	$5.6B+2.2%	$5.5B+3.0%	$5.3B+5.5%	$5.1B-3.6%	$5.3B+1.9%	$5.2B+4.6%	$4.9B-3.8%	$5.1B+3.1%	$5.0B+2.4%	$4.8B+110.6%	$2.3B-0.5%	$2.3B+4.8%	$2.2B-10.8%	$2.5B+18.6%	$2.1B
Operating Income	$2.2B	$2.2B+256.3%	$627.0M-54.1%	$1.4B+15.9%	$1.2B-46.5%	$2.2B+156.3%	$859.0M-18.5%	$1.1B+30.3%	$809.0M+56.8%	$516.0M+48.3%	$348.0M-18.5%	$427.0M-34.0%	$647.0M-2.4%	$663.0M+394.7%	-$225.0M-139.8%	$566.0M
EBITDA	N/A	$2.7B+144.5%	$1.1B-42.0%	$1.9B+7.1%	$1.7B-38.8%	$2.9B+75.0%	$1.6B-8.6%	$1.8B+14.7%	$1.6B+15.3%	$1.3B+20.8%	$1.1B+86.8%	$598.0M-24.6%	$793.0M-2.3%	$812.0M+367.1%	-$304.0M-142.9%	$708.0M
Interest Expense	$286.0M	$260.0M-1.1%	$263.0M+11.9%	$235.0M+13.0%	$208.0M-1.4%	$211.0M-13.5%	$244.0M+4.3%	$234.0M+12.5%	$208.0M+10.6%	$188.0M+2.2%	$184.0M+29.6%	$142.0M+5.2%	$135.0M+7.1%	$126.0M-1.6%	$128.0M-17.9%	$156.0M
Income Tax	$401.0M	$318.0M+65.6%	$192.0M-10.7%	$215.0M+10.8%	$194.0M-63.8%	$536.0M+115.3%	$249.0M+26.4%	$197.0M+44.9%	$136.0M+236.0%	-$100.0M-4.2%	-$96.0M-190.9%	-$33.0M-120.8%	$159.0M+30.3%	$122.0M+20.8%	$101.0M+215.6%	$32.0M
Net Income	$1.6B	$1.6B+1737.8%	-$98.0M-109.3%	$1.1B+4.6%	$1.0B-76.1%	$4.2B+323.9%	$996.0M-4.6%	$1.0B+50.2%	$695.0M+22.4%	$568.0M+35.2%	$420.0M+12.6%	$373.0M+3.0%	$362.0M-0.8%	$365.0M+181.8%	-$446.0M-318.6%	$204.0M
EPS (Basic)	N/A	$16.34+1802.1%	-$0.96-109.6%	$10.01+11.2%	$9.00-72.6%	$32.88+328.1%	$7.68-4.6%	$8.05+52.2%	$5.29+25.7%	$4.21+37.1%	$3.07-44.1%	$5.49+1.7%	$5.40-2.4%	$5.53+314.3%	-$2.58-318.6%	$1.18
EPS (Diluted)	$16.16	$16.26+1793.8%	-$0.96-109.6%	$9.95+10.8%	$8.98-72.6%	$32.78+328.5%	$7.65-4.6%	$8.02+52.2%	$5.27+26.1%	$4.18+37.5%	$3.04	$5.41+1.7%	$5.32-0.9%	$5.37	-$2.58-322.4%	$1.16
Diluted Shares (Avg)	N/A	99M-2.9%	102M-3.8%	106M-5.4%	112M-13.2%	129M-0.8%	130M0.0%	130M-1.5%	132M-2.9%	136M-1.4%	138M	69M+1.5%	68M0.0%	68M	173M-1.7%	176M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$2.5B+9.1%	$2.4B+8.5%	$2.9B-3.3%	$2.3B0.0%	$2.3B-0.2%	$2.2B-5.0%	$3.0B+4.2%	$2.3B+5.7%
SG&A Expenses	$1.6B+7.0%	$1.4B+8.3%	$1.4B+5.3%	$1.4B+1.2%	$1.4B+3.7%	$1.3B-1.3%	$1.4B+3.2%	$1.4B+2.7%
Operating Income	$364.0M-1.1%	$448.0M+3.7%	$1.0B+12.8%	$418.0M+154.6%	$368.0M+73.6%	$432.0M+54.3%	$901.0M+15.7%	-$766.0M-581.8%
EBITDA	$474.0M-0.2%	$552.0M+3.4%	$1.1B+11.6%	$521.0M+180.2%	$475.0M+44.4%	$534.0M+33.5%	$1.0B+12.2%	-$650.0M-331.3%
Interest Expense	$78.0M+21.9%	$77.0M+18.5%	$66.0M0.0%	$65.0M0.0%	$64.0M-5.9%	$65.0M+1.6%	$66.0M+4.8%	$65.0M+6.6%
Income Tax	$57.0M+371.4%	$70.0M+7.7%	$197.0M-55.2%	$77.0M+123.9%	-$21.0M-180.8%	$65.0M+35.4%	$440.0M+279.3%	-$322.0M-1388.0%
Net Income	$229.0M-30.8%	$297.0M+26.4%	$735.0M-41.0%	$304.0M+118.1%	$331.0M+134.8%	$235.0M+23.7%	$1.2B+100.3%	-$1.7B-1331.6%
EPS (Basic)	$2.43-27.2%	$3.12+33.3%	$7.54-37.9%	$3.12+119.0%	$3.34+143.8%	$2.34+27.2%	$12.15+104.9%	-$16.44-1364.6%
EPS (Diluted)	$2.43-26.8%	$3.10+33.0%	$7.52-38.1%	$3.11+118.9%	$3.32+144.1%	$2.33+27.3%	$12.15+106.3%	-$16.44-1374.4%
Diluted Shares (Avg)	94M-6.0%	96M-5.0%	N/A	98M-3.9%	100M-2.9%	101M-2.9%	N/A	102M-2.9%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

WTW Balance Sheet

WTW quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$29.5B+6.7%	$27.7B-4.8%	$29.1B-8.4%	$31.8B-9.2%	$35.0B-9.2%	$38.5B+8.8%	$35.4B+9.4%	$32.4B-0.2%	$32.5B+7.3%	$30.3B+60.6%	$18.8B+22.2%	$15.4B+4.2%	$14.8B-2.1%	$15.1B-3.9%	$15.7B
Current Assets	$16.9B+11.7%	$15.1B+12.4%	$13.4B-15.2%	$15.8B-14.3%	$18.5B-8.9%	$20.3B+19.2%	$17.0B+3.8%	$16.4B+3.5%	$15.9B+15.0%	$13.8B+10.3%	$12.5B+15.4%	$10.8B+3.6%	$10.5B-4.0%	$10.9B-0.8%	$11.0B
Cash & Equivalents	$3.1B+65.7%	$1.9B+32.7%	$1.4B+12.8%	$1.3B-71.9%	$4.5B+120.0%	$2.0B+129.9%	$887.0M-14.1%	$1.0B+0.3%	$1.0B+18.4%	$870.0M+63.5%	$532.0M-16.2%	$635.0M-20.2%	$796.0M+59.2%	$500.0M+14.7%	$436.0M
Short-Term Investments	$25.0M	$0	$0	$0-100.0%	$200.0M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$2.7B+8.3%	$2.5B-3.0%	$2.6B+7.8%	$2.4B+0.7%	$2.4B-1.6%	$2.4B-8.1%	$2.6B+10.2%	$2.4B+5.9%	$2.2B+8.0%	$2.1B+65.3%	$1.3B+20.5%	$1.0B+0.3%	$1.0B+11.6%	$933.0M+2.5%	$910.0M
Long-Term Investments	$43.0M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$8.9B+1.6%	$8.8B-13.7%	$10.2B+0.2%	$10.2B-0.1%	$10.2B-2.0%	$10.4B+0.1%	$10.4B-0.8%	$10.5B-0.5%	$10.5B+1.0%	$10.4B+178.6%	$3.7B+27.2%	$2.9B+3.5%	$2.8B+0.4%	$2.8B-14.2%	$3.3B
Total Liabilities	$21.5B+9.2%	$19.7B+0.9%	$19.5B-10.1%	$21.7B+0.1%	$21.7B-21.5%	$27.6B+10.1%	$25.1B+11.9%	$22.4B+0.9%	$22.2B+10.8%	$20.0B+21.9%	$16.4B+23.0%	$13.4B+6.4%	$12.6B-6.2%	$13.4B+1.3%	$13.2B
Current Liabilities	$14.0B+11.2%	$12.6B-0.3%	$12.6B-14.5%	$14.8B+0.4%	$14.7B-23.8%	$19.3B+20.3%	$16.1B+5.0%	$15.3B+3.7%	$14.8B+10.4%	$13.4B+4.4%	$12.8B+25.4%	$10.2B+7.8%	$9.5B-7.1%	$10.2B+2.0%	$10.0B
Non-Current Liabilities	$7.5B+5.8%	$7.1B+2.9%	$6.9B-0.4%	$6.9B-0.6%	$6.9B-16.1%	$8.3B-8.0%	$9.0B+26.8%	$7.1B-4.6%	$7.4B+11.7%	$6.6B+83.4%	$3.6B+15.3%	$3.1B+2.0%	$3.1B-3.4%	$3.2B-0.7%	$3.2B
Long-Term Debt	$5.8B+8.4%	$5.3B+16.2%	$4.6B+2.1%	$4.5B+12.5%	$4.0B-14.8%	$4.7B-12.0%	$5.3B+20.8%	$4.4B-1.4%	$4.5B+32.6%	$3.4B+47.4%	$2.3B+6.9%	$2.1B-7.8%	$2.3B-1.2%	$2.3B-0.7%	$2.4B
Total Equity	$8.0B+0.5%	$7.9B-16.6%	$9.5B-5.0%	$10.0B-24.5%	$13.3B+22.6%	$10.8B+5.6%	$10.2B+4.0%	$9.9B-2.7%	$10.1B+0.6%	$10.1B+351.5%	$2.2B+12.3%	$2.0B-10.4%	$2.2B+30.4%	$1.7B-31.7%	$2.5B
Retained Earnings	-$296.0M-371.6%	$109.0M-92.6%	$1.5B-16.9%	$1.8B-62.0%	$4.6B+90.8%	$2.4B+35.8%	$1.8B+49.2%	$1.2B+8.8%	$1.1B-24.0%	$1.5B-9.1%	$1.6B+4.4%	$1.5B-4.1%	$1.6B+11.8%	$1.4B-33.9%	$2.2B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$30.6B+7.3%	$29.6B+5.6%	$29.5B+6.7%	$27.4B+1.0%	$28.5B-3.9%	$28.1B-7.2%	$27.7B-4.8%	$27.2B-1.6%
Current Assets	$16.7B+7.3%	$16.1B+4.0%	$16.9B+11.7%	$14.6B+2.2%	$15.6B+11.2%	$15.5B+5.6%	$15.1B+12.4%	$14.3B+20.9%
Cash & Equivalents	$1.6B-17.1%	$1.9B+23.1%	$3.1B+65.7%	$1.9B+38.1%	$2.0B+57.4%	$1.5B-20.4%	$1.9B+32.7%	$1.4B+10.0%
Short-Term Investments	$34.0M+36.0%	$0	$25.0M	$25.0M	$25.0M	$0	$0	$0
Accounts Receivable	$2.6B+10.1%	$2.6B+11.9%	$2.7B+8.3%	$2.2B+3.4%	$2.4B-2.5%	$2.4B-2.6%	$2.5B-3.0%	$2.1B+1.9%
Long-Term Investments	$0-100.0%	$0	$43.0M	$45.0M	$47.0M	$0	$0	$0
Goodwill	$9.7B+8.9%	$9.7B+9.3%	$8.9B+1.6%	$8.9B+0.6%	$8.9B-12.2%	$8.8B-13.2%	$8.8B-13.7%	$8.9B-12.4%
Total Liabilities	$22.8B+12.3%	$21.6B+8.7%	$21.5B+9.2%	$19.6B+0.2%	$20.3B+0.5%	$19.9B-4.0%	$19.7B+0.9%	$19.6B+8.0%
Current Liabilities	$15.2B+9.9%	$13.5B+1.2%	$14.0B+11.2%	$13.2B+5.6%	$13.9B+9.4%	$13.4B+2.0%	$12.6B-0.3%	$12.5B+10.9%
Non-Current Liabilities	$7.5B+17.4%	$8.0B+24.2%	$7.5B+5.8%	$6.4B-9.6%	$6.4B-14.7%	$6.5B-14.4%	$7.1B+2.9%	$7.1B+3.4%
Long-Term Debt	$5.8B+21.4%	$6.3B+32.4%	$5.8B+8.4%	$4.8B-10.3%	$4.8B-10.3%	$4.8B-10.3%	$5.3B+16.2%	$5.3B+16.3%
Total Equity	$7.7B-5.1%	$8.0B-1.9%	$8.0B+0.5%	$7.7B+3.2%	$8.1B-13.2%	$8.1B-14.3%	$7.9B-16.6%	$7.5B-20.4%
Retained Earnings	-$699.0M-239.3%	-$392.0M-868.6%	-$296.0M-371.6%	-$593.0M+8.8%	-$206.0M-115.7%	$51.0M-96.5%	$109.0M-92.6%	-$650.0M-157.7%

Not reported in any period shown, so not listed: Inventory.

WTW Cash Flow Statement

WTW quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$1.9B	$1.8B+17.4%	$1.5B+12.4%	$1.3B+65.6%	$812.0M-60.6%	$2.1B+16.2%	$1.8B+64.1%	$1.1B-16.1%	$1.3B+49.4%	$862.0M-7.6%	$933.0M+282.4%	$244.0M-48.8%	$477.0M-15.0%	$561.0M+6.9%	$525.0M+19.6%	$439.0M
Depreciation & Amortization	N/A	$419.0M-8.5%	$458.0M-9.5%	$506.0M-11.1%	$569.0M-12.6%	$651.0M-15.6%	$771.0M+5.6%	$730.0M-2.3%	$747.0M-10.3%	$833.0M+8.3%	$769.0M+349.7%	$171.0M+17.1%	$146.0M-2.0%	$149.0M+288.6%	-$79.0M-155.6%	$142.0M
Stock-Based Compensation	N/A	$153.0M+26.4%	$121.0M-3.2%	$125.0M+26.3%	$99.0M-2.0%	$101.0M+12.2%	$90.0M+21.6%	$74.0M+48.0%	$50.0M-25.4%	$67.0M-45.5%	$123.0M+92.2%	$64.0M+23.1%	$52.0M+23.8%	$42.0M+31.3%	$32.0M-22.0%	$41.0M
Capital Expenditures	$234.0M	$229.0M-6.5%	$245.0M+1.2%	$242.0M	N/A	N/A	N/A	N/A	$268.0M-10.7%	$300.0M+37.6%	$218.0M+49.3%	$146.0M+29.2%	$113.0M+0.9%	$112.0M-17.0%	$135.0M+21.6%	$111.0M
Free Cash Flow	$1.7B	$1.5B+22.0%	$1.3B+14.9%	$1.1B	N/A	N/A	N/A	N/A	$1.0B+81.5%	$562.0M-21.4%	$715.0M+629.6%	$98.0M-73.1%	$364.0M-18.9%	$449.0M+15.1%	$390.0M+18.9%	$328.0M
Investing Cash Flow	-$1.3B	$447.0M+78.8%	$250.0M+123.0%	-$1.1B-527.2%	-$173.0M-106.7%	$2.6B+1706.3%	-$160.0M+90.1%	-$1.6B-373.3%	-$341.0M-1.8%	-$335.0M-271.8%	$195.0M+120.7%	-$943.0M-241.7%	-$276.0M-130.0%	-$120.0M+30.2%	-$172.0M-70.3%	-$101.0M
Financing Cash Flow	-$747.0M	-$936.0M-103.9%	-$459.0M+61.8%	-$1.2B+65.2%	-$3.4B-10.6%	-$3.1B-923.8%	$378.0M-16.9%	$455.0M+150.4%	-$903.0M-88.5%	-$479.0M+38.2%	-$775.0M-221.1%	$640.0M+298.1%	-$323.0M-135.8%	-$137.0M+52.9%	-$291.0M-36.0%	-$214.0M
Dividends Paid	$357.0M	$358.0M+1.1%	$354.0M+0.6%	$352.0M-4.6%	$369.0M-1.3%	$374.0M+8.1%	$346.0M+5.2%	$329.0M+7.5%	$306.0M+10.5%	$277.0M+39.2%	$199.0M-28.2%	$277.0M+31.9%	$210.0M+8.8%	$193.0M+4.3%	$185.0M+2.8%	$180.0M
Share Buybacks	$1.7B	$1.6B+83.1%	$901.0M-9.9%	$1.0B-71.7%	$3.5B+117.0%	$1.6B	$0-100.0%	$150.0M-75.1%	$602.0M+13.2%	$532.0M+34.3%	$396.0M+382.9%	$82.0M-61.5%	$213.0M	$0-100.0%	$100.0M	$0

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$484.0M+34.1%	-$10.0M+71.4%	$771.0M+28.7%	$678.0M+40.7%	$361.0M-11.3%	-$35.0M-245.8%	$599.0M+14.8%	$482.0M+22.6%
Depreciation & Amortization	$110.0M+2.8%	$104.0M+2.0%	$107.0M+1.9%	$103.0M-11.2%	$107.0M-8.5%	$102.0M-15.0%	$105.0M-11.0%	$116.0M-4.9%
Stock-Based Compensation	$67.0M+116.1%	$42.0M+13.5%	N/A	N/A	$31.0M	$37.0M+54.2%	N/A	N/A
Capital Expenditures	$59.0M+1.7%	$55.0M+7.8%	$63.0M+12.5%	$57.0M-9.5%	$58.0M-12.1%	$51.0M-15.0%	$56.0M	$63.0M
Free Cash Flow	$425.0M+40.3%	-$65.0M+24.4%	$708.0M+30.4%	$621.0M+48.2%	$303.0M-11.1%	-$86.0M-138.9%	$543.0M	$419.0M
Investing Cash Flow	-$336.0M-148.3%	-$840.0M-900.0%	-$83.0M-117.3%	-$82.0M-13.9%	$696.0M+928.6%	-$84.0M-13.5%	$480.0M+972.7%	-$72.0M-1540.0%
Financing Cash Flow	-$408.0M+50.5%	-$203.0M-945.8%	$375.0M+156.5%	-$511.0M-221.4%	-$824.0M+30.9%	$24.0M-98.5%	-$664.0M-40.7%	-$159.0M+74.1%
Dividends Paid	$90.0M-1.1%	$88.0M0.0%	$89.0M0.0%	$90.0M+1.1%	$91.0M+1.1%	$88.0M+2.3%	$89.0M+2.3%	$89.0M+1.1%
Share Buybacks	$450.0M-10.0%	$300.0M+50.0%	$350.0M-11.4%	$600.0M+192.7%	$500.0M+150.0%	$200.0M+98.0%	$395.0M+101.5%	$205.0M-41.4%

WTW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WTW quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	23.0%+16.7pp	6.3%-8.1pp	14.4%+1.1pp	13.3%-11.2pp	24.5%+14.5pp	10.0%-2.6pp	12.6%+3.1pp	9.5%+3.2pp	6.3%+1.9pp	4.4%-6.7pp	11.2%-5.9pp	17.0%-1.1pp	18.1%+24.6pp	-6.5%-22.9pp	16.4%
Net Margin	16.5%+17.5pp	-1.0%-12.1pp	11.1%-0.3pp	11.4%-35.5pp	46.9%+35.4pp	11.6%-0.9pp	12.5%+4.3pp	8.2%+1.2pp	6.9%+1.6pp	5.3%-4.4pp	9.7%+0.2pp	9.5%-0.5pp	10.0%+22.8pp	-12.8%-18.7pp	5.9%
Return on Equity	20.1%+21.3pp	-1.2%-12.3pp	11.1%+1.0pp	10.1%-21.8pp	31.8%+22.6pp	9.2%-1.0pp	10.2%+3.1pp	7.0%+1.4pp	5.6%+1.4pp	4.2%-12.6pp	16.7%-1.5pp	18.2%+1.8pp	16.5%+42.7pp	-26.3%-34.5pp	8.2%
Return on Assets	5.4%+5.8pp	-0.4%-4.0pp	3.6%+0.4pp	3.2%-8.9pp	12.1%+9.5pp	2.6%-0.4pp	2.9%+0.8pp	2.1%+0.4pp	1.8%+0.4pp	1.4%-0.6pp	2.0%-0.4pp	2.4%-0.1pp	2.5%+5.4pp	-2.9%-4.3pp	1.3%
Current Ratio	1.200.0x	1.20+0.1x	1.060.0x	1.07-0.2x	1.26+0.2x	1.050.0x	1.060.0x	1.070.0x	1.070.0x	1.03+0.1x	0.98-0.1x	1.060.0x	1.100.0x	1.070.0x	1.10
Debt-to-Equity	0.72+0.1x	0.67+0.2x	0.480.0x	0.45+0.1x	0.30-0.1x	0.43-0.1x	0.52+0.1x	0.450.0x	0.44+0.1x	0.33-0.7x	1.02-0.1x	1.070.0x	1.04-0.3x	1.38+0.4x	0.95
Asset Turnover	0.330.0x	0.360.0x	0.330.0x	0.280.0x	0.260.0x	0.220.0x	0.240.0x	0.260.0x	0.250.0x	0.26+0.1x	0.200.0x	0.250.0x	0.250.0x	0.230.0x	0.22
FCF Margin	15.9%+3.2pp	12.8%+1.1pp	11.6%	N/A	N/A	N/A	N/A	12.0%+5.1pp	6.9%-2.2pp	9.1%+6.5pp	2.6%-7.0pp	9.6%-2.7pp	12.3%+1.1pp	11.2%+1.7pp	9.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	14.8%-1.5pp	18.6%-0.9pp	34.6%+4.9pp	18.3%+51.7pp	16.3%+6.9pp	19.4%+7.5pp	29.7%+3.0pp	-33.5%-40.8pp
Net Margin	9.3%-5.4pp	12.3%+1.7pp	25.0%-16.0pp	13.3%+86.5pp	14.6%+8.4pp	10.6%+2.5pp	41.0%+19.7pp	-73.2%-79.5pp
Return on Equity	3.0%-1.1pp	3.7%+0.8pp	9.2%-6.5pp	3.9%+26.3pp	4.1%+2.6pp	2.9%+0.9pp	15.7%+9.2pp	-22.4%-23.8pp
Return on Assets	0.8%-0.4pp	1.0%+0.2pp	2.5%-2.0pp	1.1%+7.3pp	1.2%+0.7pp	0.8%+0.2pp	4.5%+2.4pp	-6.2%-6.7pp
Current Ratio	1.100.0x	1.190.0x	1.200.0x	1.100.0x	1.130.0x	1.160.0x	1.20+0.1x	1.14+0.1x
Debt-to-Equity	0.75+0.2x	0.79+0.2x	0.72+0.1x	0.62-0.1x	0.590.0x	0.590.0x	0.67+0.2x	0.71+0.2x
Asset Turnover	0.080.0x	0.080.0x	0.100.0x	0.080.0x	0.080.0x	0.080.0x	0.110.0x	0.080.0x
FCF Margin	17.2%+3.8pp	-2.7%+1.2pp	24.1%+6.2pp	27.1%+8.8pp	13.4%-1.7pp	-3.9%-2.3pp	17.9%	18.3%

Not reported in any period shown, so not listed: Gross Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Willis Towers Watson Public Limited Company WTW	FY2025	$9.7B	$1.6B	16.5%	$26.8B	—
Brown & Brown, Inc. BRO	FY2025	$5.9B	$1.1B	17.9%	$20.7B	41/100
Aon plc AON	FY2025	$17.2B	$3.7B	21.5%	$58.5B	18/100
Arthur J. Gallagher & Co. AJG	FY2025	$13.9B	$1.5B	10.7%	$59.4B	27/100
Marsh & McLennan Companies, Inc. MMC	FY2025	$27.0B	$4.2B	15.4%	$89.5B	28/100
Erie Indemnity Co ERIE	FY2025	$4.1B	$559.3M	13.8%	$11.6B	29/100

Where Willis Towers Watson Public Limited Company Ranks

Frequently Asked Questions

What is Willis Towers Watson Public Limited Company's annual revenue?

Willis Towers Watson Public Limited Company (WTW) reported $9.7B in total revenue for fiscal year 2025. This represents a -2.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Willis Towers Watson Public Limited Company's revenue growing?

Willis Towers Watson Public Limited Company (WTW) revenue declined by 2.2% year-over-year, from $9.9B to $9.7B in fiscal year 2025.

Is Willis Towers Watson Public Limited Company profitable?

Yes, Willis Towers Watson Public Limited Company (WTW) reported a net income of $1.6B in fiscal year 2025, with a net profit margin of 16.5%.

What is Willis Towers Watson Public Limited Company's EBITDA?

Willis Towers Watson Public Limited Company (WTW) had EBITDA of $2.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Willis Towers Watson Public Limited Company have?

As of fiscal year 2025, Willis Towers Watson Public Limited Company (WTW) had $3.1B in cash and equivalents against $5.8B in long-term debt.

What is Willis Towers Watson Public Limited Company's operating margin?

Willis Towers Watson Public Limited Company (WTW) had an operating margin of 23.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Willis Towers Watson Public Limited Company's net profit margin?

Willis Towers Watson Public Limited Company (WTW) had a net profit margin of 16.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Willis Towers Watson Public Limited Company pay dividends?

Yes, Willis Towers Watson Public Limited Company (WTW) paid $3.68 per share in dividends during fiscal year 2025.

What is Willis Towers Watson Public Limited Company's return on equity (ROE)?

Willis Towers Watson Public Limited Company (WTW) has a return on equity of 20.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Willis Towers Watson Public Limited Company's free cash flow?

Willis Towers Watson Public Limited Company (WTW) generated $1.5B in free cash flow during fiscal year 2025. This represents a 22.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Willis Towers Watson Public Limited Company's operating cash flow?

Willis Towers Watson Public Limited Company (WTW) generated $1.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Willis Towers Watson Public Limited Company's total assets?

Willis Towers Watson Public Limited Company (WTW) had $29.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Willis Towers Watson Public Limited Company's capital expenditures?

Willis Towers Watson Public Limited Company (WTW) invested $229.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Willis Towers Watson Public Limited Company buy back shares?

Yes, Willis Towers Watson Public Limited Company (WTW) spent $1.6B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Willis Towers Watson Public Limited Company have outstanding?

Willis Towers Watson Public Limited Company (WTW) had 95M shares outstanding as of fiscal year 2025.

What is Willis Towers Watson Public Limited Company's current ratio?

Willis Towers Watson Public Limited Company (WTW) had a current ratio of 1.20 as of fiscal year 2025, which is considered adequate.

What is Willis Towers Watson Public Limited Company's debt-to-equity ratio?

Willis Towers Watson Public Limited Company (WTW) had a debt-to-equity ratio of 0.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Willis Towers Watson Public Limited Company's return on assets (ROA)?

Willis Towers Watson Public Limited Company (WTW) had a return on assets of 5.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Willis Towers Watson Public Limited Company's P/E ratio?

Willis Towers Watson Public Limited Company (WTW) trades at 17.1x earnings, its market capitalization divided by net income of $1.6B net income, trailing 12 months to June 30, 2026. The market capitalization is $26.8B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Willis Towers Watson Public Limited Company's price-to-sales ratio?

Willis Towers Watson Public Limited Company (WTW) trades at 2.7x sales, its market capitalization divided by revenue of $10.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $26.8B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Willis Towers Watson Public Limited Company's Piotroski F-Score?

Willis Towers Watson Public Limited Company (WTW) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Willis Towers Watson Public Limited Company's earnings high quality?

Willis Towers Watson Public Limited Company (WTW) has an earnings quality ratio of 1.11x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Willis Towers Watson Public Limited Company cover its interest payments?

Willis Towers Watson Public Limited Company (WTW) has an interest coverage ratio of 8.59x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.