What is Willis Towers's earnings per share (EPS)?

Willis Towers (WTW) reported diluted earnings per share of $16.26 for fiscal year 2025. This represents a 1793.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Willis Towers Financials

WTW

FY2025 annual

Revenue $9.7B -2.2% YoY

Net Income $1.6B +1737.8% YoY

EPS (Diluted) $16.26 +1793.8% YoY

Free Cash Flow $1.5B +22.0% YoY

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Willis Towers (WTW) reported $9.7B in revenue for fiscal year 2025, down 2.2% from the prior fiscal year. 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 2026-04-30

Margin recovery and strong cash conversion are the dominant mechanics, allowing generous capital returns without heavy reinvestment needs.

Operating margin rebounded from 6.3% to 23.0% while revenue barely moved year to year, so FY2025's earnings recovery looks more like expense normalization than a demand surge. With free cash flow at $1.5B and capex only $229M, that recovery translated into cash instead of being swallowed by reinvestment.

Net income of $1.6B sat close to operating cash flow of $1.8B, which suggests the year's accounting profit was backed by real cash generation rather than mostly by accruals. The small drop from operating cash flow to free cash flow also points to an asset-light model, where maintaining the business does not consume much capital.

Cash returned to shareholders stayed aggressive, with buybacks of $1.7B and dividends of $358M; that helps explain why the equity base remained thin even after profits recovered. Paired with debt-to-equity of 0.7x and a current ratio near 1.2x, the balance sheet looks serviceable but still more geared toward distribution than rebuilding book capital.

Financial Health Signals

Financial health score not available

Willis Towers 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

5/7

Willis Towers passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.11x

For every $1 of reported earnings, Willis Towers 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 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

$9.7B

YoY-2.2%

5Y CAGR+2.4%

10Y CAGR+9.7%

Willis Towers generated $9.7B in revenue in fiscal year 2025. This represents a decrease of 2.2% from the prior year.

EBITDA

$2.7B

YoY+144.5%

5Y CAGR+10.2%

10Y CAGR+16.1%

Willis Towers's EBITDA was $2.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 144.5% from the prior year.

Net Income

$1.6B

YoY+1737.8%

5Y CAGR+10.0%

10Y CAGR+15.7%

Willis Towers reported $1.6B in net income in fiscal year 2025. This represents an increase of 1737.8% from the prior year.

EPS (Diluted)

$16.26

YoY+1793.8%

5Y CAGR+16.3%

Willis Towers earned $16.26 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1793.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$1.5B

YoY+22.0%

Willis Towers generated $1.5B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 22.0% from the prior year.

Cash & Debt

$3.1B

YoY+65.7%

5Y CAGR+9.0%

10Y CAGR+19.4%

Willis Towers held $3.1B in cash against $5.8B in long-term debt as of fiscal year 2025.

Dividends Per Share

$3.68

YoY+4.5%

5Y CAGR+6.0%

Willis Towers paid $3.68 per share in dividends in fiscal year 2025. This represents an increase of 4.5% from the prior year.

Shares Outstanding

Not reported for fiscal year 2025.

Margins & Returns

Operating Margin

23.0%

YoY+16.7pp

5Y CAGR+13.0pp

10Y CAGR+11.9pp

Willis Towers's operating margin was 23.0% in fiscal year 2025, reflecting core business profitability. This is up 16.7 percentage points from the prior year.

Net Margin

16.5%

YoY+17.5pp

5Y CAGR+5.0pp

10Y CAGR+6.8pp

Willis Towers's net profit margin was 16.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 17.5 percentage points from the prior year.

Return on Equity

20.1%

YoY+21.3pp

5Y CAGR+10.9pp

10Y CAGR+3.4pp

Willis Towers's ROE was 20.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 21.3 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$1.6B

YoY+83.1%

10Y CAGR+35.0%

Willis Towers spent $1.6B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 83.1% from the prior year.

Capital Expenditures

$229.0M

YoY-6.5%

Willis Towers invested $229.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 6.5% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

WTW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WTW annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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
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 (Diluted)	—	$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

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$2.5B+2.2%	$2.4B-17.8%	$2.9B+28.3%	$2.3B+1.2%	$2.3B+1.7%	$2.2B-26.8%	$3.0B+32.6%	$2.3B
SG&A Expenses	$1.6B+8.2%	$1.4B-0.3%	$1.4B+1.8%	$1.4B-2.5%	$1.4B+9.4%	$1.3B-3.1%	$1.4B-2.1%	$1.4B
Operating Income	$364.0M-18.8%	$448.0M-55.9%	$1.0B+143.1%	$418.0M+13.6%	$368.0M-14.8%	$432.0M-52.1%	$901.0M+217.6%	-$766.0M
Interest Expense	$78.0M+1.3%	$77.0M+16.7%	$66.0M+1.5%	$65.0M+1.6%	$64.0M-1.5%	$65.0M-1.5%	$66.0M+1.5%	$65.0M
Income Tax	$57.0M-18.6%	$70.0M-64.5%	$197.0M+155.8%	$77.0M+466.7%	-$21.0M-132.3%	$65.0M-85.2%	$440.0M+236.6%	-$322.0M
Net Income	$229.0M-22.9%	$297.0M-59.6%	$735.0M+141.8%	$304.0M-8.2%	$331.0M+40.9%	$235.0M-81.1%	$1.2B+174.4%	-$1.7B
EPS (Diluted)	$2.43-21.6%	$3.10	N/A	$3.11-6.3%	$3.32+42.5%	$2.33	N/A	-$16.44

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

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

WTW Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WTW annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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
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
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
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	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$30.6B+3.1%	$29.6B+0.4%	$29.5B+7.6%	$27.4B-3.6%	$28.5B+1.5%	$28.1B+1.4%	$27.7B+1.9%	$27.2B
Current Assets	$16.7B+4.1%	$16.1B-4.7%	$16.9B+15.4%	$14.6B-6.3%	$15.6B+0.9%	$15.5B+2.4%	$15.1B+5.5%	$14.3B
Cash & Equivalents	$1.6B-12.3%	$1.9B-40.8%	$3.1B+65.3%	$1.9B-3.5%	$2.0B+30.3%	$1.5B-20.3%	$1.9B+37.8%	$1.4B
Accounts Receivable	$2.6B-1.7%	$2.6B-2.0%	$2.7B+23.4%	$2.2B-7.4%	$2.4B-0.1%	$2.4B-5.1%	$2.5B+17.8%	$2.1B
Goodwill	$9.7B+0.8%	$9.7B+8.1%	$8.9B0.0%	$8.9B0.0%	$8.9B+1.1%	$8.8B+0.5%	$8.8B-0.9%	$8.9B
Total Liabilities	$22.8B+5.6%	$21.6B+0.5%	$21.5B+9.4%	$19.6B-3.3%	$20.3B+2.3%	$19.9B+0.9%	$19.7B+0.3%	$19.6B
Current Liabilities	$15.2B+12.5%	$13.5B-3.3%	$14.0B+5.7%	$13.2B-4.5%	$13.9B+3.6%	$13.4B+6.2%	$12.6B+0.5%	$12.5B
Long-Term Debt	$5.8B-8.3%	$6.3B+9.5%	$5.8B+20.8%	$4.8B0.0%	$4.8B0.0%	$4.8B-10.3%	$5.3B0.0%	$5.3B
Total Equity	$7.7B-3.6%	$8.0B0.0%	$8.0B+3.1%	$7.7B-4.5%	$8.1B-0.4%	$8.1B+2.4%	$7.9B+6.0%	$7.5B
Retained Earnings	-$699.0M-78.3%	-$392.0M-32.4%	-$296.0M+50.1%	-$593.0M-187.9%	-$206.0M-503.9%	$51.0M-53.2%	$109.0M+116.8%	-$650.0M

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

WTW Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

WTW annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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
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	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$484.0M+4940.0%	-$10.0M-101.3%	$771.0M+13.7%	$678.0M+87.8%	$361.0M+1131.4%	-$35.0M-105.8%	$599.0M+24.3%	$482.0M
Capital Expenditures	$59.0M+7.3%	$55.0M-12.7%	$63.0M+10.5%	$57.0M-1.7%	$58.0M+13.7%	$51.0M-8.9%	$56.0M-11.1%	$63.0M
Free Cash Flow	$425.0M+753.8%	-$65.0M-109.2%	$708.0M+14.0%	$621.0M+105.0%	$303.0M+452.3%	-$86.0M-115.8%	$543.0M+29.6%	$419.0M
Investing Cash Flow	-$336.0M+60.0%	-$840.0M-912.0%	-$83.0M-1.2%	-$82.0M-111.8%	$696.0M+928.6%	-$84.0M-117.5%	$480.0M+766.7%	-$72.0M
Financing Cash Flow	-$408.0M-101.0%	-$203.0M-154.1%	$375.0M+173.4%	-$511.0M+38.0%	-$824.0M-3533.3%	$24.0M+103.6%	-$664.0M-317.6%	-$159.0M
Dividends Paid	$90.0M+2.3%	$88.0M-1.1%	$89.0M-1.1%	$90.0M-1.1%	$91.0M+3.4%	$88.0M-1.1%	$89.0M0.0%	$89.0M
Share Buybacks	$450.0M+50.0%	$300.0M-14.3%	$350.0M-41.7%	$600.0M+20.0%	$500.0M+150.0%	$200.0M-49.4%	$395.0M+92.7%	$205.0M

WTW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

WTW annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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
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	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Margin	14.8%-3.8pp	18.6%-16.0pp	34.6%+16.3pp	18.3%+2.0pp	16.3%-3.1pp	19.4%-10.3pp	29.7%+63.1pp	-33.5%
Net Margin	9.3%-3.0pp	12.3%-12.7pp	25.0%+11.7pp	13.3%-1.4pp	14.6%+4.1pp	10.6%-30.5pp	41.0%+114.2pp	-73.2%
Return on Equity	3.0%-0.7pp	3.7%-5.5pp	9.2%+5.3pp	3.9%-0.2pp	4.1%+1.2pp	2.9%-12.8pp	15.7%+38.0pp	-22.4%
Return on Assets	0.8%-0.3pp	1.0%-1.5pp	2.5%+1.4pp	1.1%0.0pp	1.2%+0.3pp	0.8%-3.7pp	4.5%+10.7pp	-6.2%
Current Ratio	1.10-0.1x	1.190.0x	1.20+0.1x	1.100.0x	1.130.0x	1.160.0x	1.20+0.1x	1.14
Debt-to-Equity	0.750.0x	0.79+0.1x	0.72+0.1x	0.620.0x	0.590.0x	0.59-0.1x	0.670.0x	0.71
FCF Margin	17.2%+19.9pp	-2.7%-26.8pp	24.1%-3.0pp	27.1%+13.7pp	13.4%+17.3pp	-3.9%-21.8pp	17.9%-0.4pp	18.3%

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

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Where Willis Towers Ranks

Frequently Asked Questions

What is Willis Towers's annual revenue?

Willis Towers (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's revenue growing?

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

Is Willis Towers profitable?

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

What is Willis Towers's EBITDA?

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

How much debt does Willis Towers have?

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

What is Willis Towers's operating margin?

Willis Towers (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's net profit margin?

Willis Towers (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 pay dividends?

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

What is Willis Towers's return on equity (ROE)?

Willis Towers (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's free cash flow?

Willis Towers (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's operating cash flow?

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

What are Willis Towers's total assets?

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

What are Willis Towers's capital expenditures?

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

Does Willis Towers buy back shares?

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

What is Willis Towers's current ratio?

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

What is Willis Towers's debt-to-equity ratio?

Willis Towers (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's return on assets (ROA)?

Willis Towers (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's Piotroski F-Score?

Willis Towers (WTW) has a Piotroski F-Score of 5 out of 7 computable signals; 2 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's earnings high quality?

Willis Towers (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 cover its interest payments?

Willis Towers (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.