Willis Towers Watson Public Limited Company (WTW) 10-Year Financial Performance & Capital Metrics

WTW • • Insurance & Managed Care

Financial ServicesInsurance BrokersFull-Service Insurance BrokersGlobal Full-Service Brokers

AboutWillis Towers Watson Public Limited Company operates as an advisory, broking, and solutions company worldwide. It operates through two segments, Health, Wealth and Career; and Risk and Broking. The company offers actuarial support, plan design, and administrative services for traditional pension and retirement savings plans; plan management consulting, broking, and administration services for health and group benefit programs; and benefits outsourcing services. It also provides advice, data, software, and products to address clients' total rewards and talent issues. In addition, the company offers risk advice, insurance brokerage, and consulting services in the areas of property and casualty, aerospace, construction, and marine. Further, it offers investment consulting and discretionary management services to insurance and reinsurance companies; insurance consulting and technology, risk and capital management, pricing and predictive modeling, financial and regulatory reporting, financial and capital modeling, merger and acquisition, outsourcing, and business management services; wholesale insurance broking services to retail and wholesale brokers; and underwriting and capital management, capital market, and advisory and brokerage services. Additionally, the company provides primary medical and ancillary benefit exchange, and outsourcing services to active employees and retirees in the group and individual markets, as well as delivers healthcare and reimbursement accounts, including health savings accounts, health reimbursement arrangements, flexible spending accounts, and other consumer-directed accounts. The company was formerly known as Willis Group Holdings Public Limited Company and changed its name to Willis Towers Watson Public Limited Company in January 2016. Willis Towers Watson Public Limited Company was founded in 1828 and is based in London, the United Kingdom.Show more

Revenue $9.93B +4.7%
Combined Ratio 93.69% +9.4%
Net Income -$98M -109.3%
Return on Equity -1.11% -110.4%
Medical Cost Ratio 55.41% -1.7%
Operating Margin 6.31% -56.1%
Net Margin -0.99% -108.9%
ROA -0.35% -110.0%
Equity / Assets 28.96% -12.2%
Book Value per Share 78.60 -13.2%
Tangible BV/Share -20.36 +17.6%
Debt/Equity 0.74 +19.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 93.7% combined ratio
✓Low loss ratio of 55.4%
✓Share count reduced 3.8% through buybacks

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.08%

5Y3.48%

3Y3.34%

TTM-0.02%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM393.07%

EPS CAGR

10Y-

5Y-

3Y-

TTM389.24%

ROCE

10Y Avg5.81%

5Y Avg6.82%

3Y Avg6.15%

Latest3.98%

Peer Comparison

Global Full-Service Brokers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AONAon plc	74.12B	344.84	27.61	17.36%	16.03%	33.65%	3.8%	2.78
MMCMarsh & McLennan Companies, Inc.	89.29B	182.26	22.28	7.57%	15.6%	26.87%	4.46%	1.62
WTWWillis Towers Watson Public Limited Company	31.45B	328.49	-342.18	4.71%	21.58%	27.09%	4.03%	0.74

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	3.83B	7.89B	8.2B	8.51B	8.37B	8.62B	9B	8.87B	9.48B	9.93B
Revenue Growth %	0.01%	1.06%	0.04%	0.04%	-0.02%	0.03%	0.04%	-0.01%	0.07%	0.05%
Medical Costs & Claims+	2.3B	4.85B	4.97B	5.12B	4.93B	5.16B	5.25B	5.07B	5.34B	5.5B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	1.53B	3.04B	3.23B	3.39B	3.44B	3.46B	3.75B	3.8B	4.14B	4.43B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.03%	0.99%	0.06%	0.05%	0.02%	0%	0.08%	0.01%	0.09%	0.07%
Operating Expenses+	1.1B	2.69B	2.72B	2.58B	2.39B	2.6B	1.54B	2.62B	2.77B	3.8B
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	171M	769M	833M	747M	729M	770M	650M	567M	505M	456M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	427M	348M	516M	809M	1.05B	859M	2.2B	1.18B	1.36B	627M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.34%	-0.19%	0.48%	0.57%	0.3%	-0.19%	1.56%	-0.47%	0.16%	-0.54%
EBITDA+	598M	1.12B	1.35B	1.56B	1.78B	1.63B	2.85B	1.75B	1.87B	1.08B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	142M	184M	188M	208M	234M	244M	211M	208M	235M	263M
Non-Operating Income	-55M	-178M	-164M	-250M	-226M	-396M	-701M	-288M	-149M	260M
Pretax Income+	351M	344M	495M	851M	1.05B	1.01B	2.69B	1.26B	1.28B	104M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-33M	-96M	-100M	136M	197M	249M	536M	194M	215M	192M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	373M	420M	568M	695M	1.04B	996M	4.22B	1.01B	1.05B	-98M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.03%	0.13%	0.35%	0.22%	0.5%	-0.05%	3.24%	-0.76%	0.05%	-1.09%
EPS (Diluted)+	5.41	2.26	4.18	5.27	8.03	7.65	14.90	8.98	9.95	-0.96
EPS Growth %	0.02%	-0.58%	0.85%	0.26%	0.52%	-0.05%	0.95%	-0.4%	0.11%	-1.1%
EPS (Basic)	5.49	2.28	4.21	5.31	8.03	7.68	15.02	9.00	10.05	-0.96
Diluted Shares Outstanding	69M	138M	136M	132M	130M	130M	129M	112M	106M	102M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	18.89B	30.27B	32.46B	32.4B	35.51B	38.53B	34.97B	31.77B	29.09B	27.68B
Asset Growth %	0.22%	0.6%	0.07%	-0%	0.1%	0.09%	-0.09%	-0.09%	-0.08%	-0.05%
Total Investment Assets+	42M	30M	26M	7M	23M	70M	255M	90M	88M	157M
Long-Term Investments	42M	30M	26M	7M	23M	70M	55M	90M	88M	157M
Short-Term Investments	0	0	0	0	0	0	200M	0	0	0
Total Current Assets+	12.5B	13.8B	15.86B	16.42B	17.12B	20.3B	18.49B	15.84B	13.43B	15.11B
Cash & Equivalents	532M	870M	1.03B	1.03B	887M	2.04B	4.49B	1.26B	1.42B	1.89B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	10.63B	10.71B	12.45B	12.87B	13.38B	15.73B	11.29B	12.05B	9.31B	10.6B
Goodwill & Intangibles+	4.88B	14.79B	14.4B	13.79B	14.67B	14.25B	12.74B	12.45B	12.21B	10.09B
Goodwill	3.77B	10.43B	10.52B	10.48B	11.19B	11.2B	10.18B	10.17B	10.2B	8.8B
Intangible Assets	1.11B	4.37B	3.88B	3.32B	3.48B	3.04B	2.56B	2.27B	2.02B	1.29B
PP&E (Net)	563M	839M	985M	942M	2.01B	1.92B	1.57B	1.3B	1.28B	1.15B
Other Assets	826M	761M	1.14B	1.17B	1.61B	1.95B	2.04B	2.03B	1.99B	941M
Total Liabilities	16.49B	20.15B	22.18B	22.39B	25.14B	27.6B	21.66B	21.68B	19.5B	19.66B
Total Debt+	3.44B	4B	4.7B	4.72B	6.77B	6.72B	5.49B	5.48B	5.94B	5.93B
Net Debt	2.91B	3.13B	3.67B	3.69B	5.88B	4.68B	1B	4.22B	4.52B	4.04B
Long-Term Debt	2.28B	3.36B	4.45B	4.39B	5.3B	4.66B	3.97B	4.47B	4.57B	5.31B
Short-Term Debt	988M	508M	85M	186M	316M	971M	613M	250M	650M	0
Total Current Liabilities+	12.8B	13.37B	14.76B	15.3B	16.16B	19.33B	14.72B	14.78B	12.63B	12.6B
Accounts Payable	75M	117M	908M	691M	856M	857M	898M	975M	1.07B	1.05B
Deferred Revenue	752M	1.48B	1.71B	0	0	0	0	0	0	0
Other Current Liabilities	10.11B	9.49B	11.75B	13.94B	14.21B	16.65B	12.41B	12.97B	10.34B	10.89B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	932M	2.29B	2.19B	1.99B	2.17B	2.11B	1.37B	1.05B	1.16B	1.21B
Total Equity+	2.41B	10.12B	10.28B	10.01B	10.37B	10.93B	13.31B	10.09B	9.59B	8.02B
Equity Growth %	0.17%	3.2%	0.02%	-0.03%	0.04%	0.05%	0.22%	-0.24%	-0.05%	-0.16%
Shareholders Equity	2.22B	9.95B	10.13B	9.85B	10.25B	10.82B	13.26B	10.02B	9.52B	7.94B
Minority Interest	186M	169M	151M	157M	120M	112M	48M	77M	73M	77M
Retained Earnings	1.6B	1.34B	1.1B	1.2B	1.79B	2.43B	4.64B	1.76B	1.47B	109M
Common Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.04B	-1.89B	-1.51B	-1.96B	-2.23B	-2.36B	-2.19B	-2.62B	-2.86B	-3.16B
Return on Equity (ROE)	0.17%	0.07%	0.06%	0.07%	0.1%	0.09%	0.35%	0.09%	0.11%	-0.01%
Return on Assets (ROA)	0.02%	0.02%	0.02%	0.02%	0.03%	0.03%	0.11%	0.03%	0.03%	-0%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	1.43x	0.40x	0.46x	0.47x	0.65x	0.61x	0.41x	0.54x	0.62x	0.74x
Book Value per Share	34.90	73.34	75.57	75.83	79.76	84.09	103.16	90.12	90.50	78.60
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	243M	967M	862M	1.29B	1.08B	1.77B	2.06B	812M	1.34B	1.51B
Operating CF Growth %	-0.49%	2.98%	-0.11%	0.49%	-0.16%	0.64%	0.16%	-0.61%	0.66%	0.12%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	384M	330M	592M	715M	1.07B	1.02B	4.24B	1.02B	1.05B	1.25B
Depreciation & Amortization	171M	769M	833M	747M	729M	770M	650M	567M	505M	456M
Stock-Based Compensation	64M	123M	67M	54M	74M	90M	101M	99M	125M	121M
Deferred Taxes	-99M	-136M	-285M	-115M	-72M	99M	226M	-50M	-109M	-213M
Other Non-Cash Items	-98M	-58M	-67M	-112M	67M	-149M	-2.7B	60M	140M	226M
Working Capital Changes	-179M	-61M	-278M	-1M	-790M	-56M	-449M	-888M	-371M	-326M
Cash from Investing+	-943M	188M	-335M	-341M	-1.61B	-160M	2.77B	-173M	-1.08B	250M
Capital Expenditures	-158M	-307M	-375M	-322M	-305M	-223M	-201M	-204M	-242M	0
Acquisitions	-801M	475M	-13M	-32M	-1.31B	143M	2.97B	-169M	-6M	0
Purchase of Investments	12M	0	0	0	0	0	-200M	200M	-4M	0
Sale/Maturity of Investments	1000K	0	0	0	0	0	1000K	1000K	0	0
Other Investing	1M	20M	53M	13M	3M	-80M	147M	-200M	-833M	250M
Cash from Financing+	641M	-775M	-479M	-903M	397M	378M	-3.11B	-3.44B	-1.2B	-459M
Dividends Paid	-277M	-199M	-277M	-306M	-329M	-346M	-374M	-369M	-352M	-354M
Share Repurchases	-82M	-396M	-709M	-602M	-150M	0	-1.63B	-3.53B	-1B	-901M
Stock Issued	131M	63M	61M	45M	45M	16M	10M	7M	0	0
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	1000K	1000K	1000K
Other Financing	566M	-101M	-64M	-39M	-140M	753M	-115M	323M	-342M	705M
Net Change in Cash+	-103M	338M	160M	3M	-138M	2.12B	1.59B	-2.97B	-929M	1.21B
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	635M	532M	870M	1.03B	1.03B	4.18B	6.3B	7.69B	4.72B	3.79B
Cash at End	532M	870M	1.03B	1.03B	895M	6.3B	7.89B	4.72B	3.79B	5B
Free Cash Flow+	85M	660M	487M	966M	776M	1.49B	1.86B	608M	1.1B	1.27B
FCF Growth %	-0.76%	6.76%	-0.26%	0.98%	-0.2%	0.92%	0.25%	-0.67%	0.81%	0.15%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	1.23	4.78	3.58	7.32	5.97	11.45	14.42	5.43	10.41	12.42

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	88.85%	95.59%	93.71%	90.5%	87.41%	90.03%	75.53%	86.71%	85.61%	93.69%
Medical Cost Ratio	60.15%	61.48%	60.56%	60.18%	58.89%	59.86%	58.38%	57.13%	56.35%	55.41%
Return on Equity (ROE)	16.67%	6.7%	5.57%	6.85%	10.25%	9.35%	34.84%	8.62%	10.72%	-1.11%
Return on Assets (ROA)	2.17%	1.71%	1.81%	2.14%	3.07%	2.69%	11.49%	3.02%	3.47%	-0.35%
Equity / Assets	12.74%	33.43%	31.66%	30.9%	29.2%	28.37%	38.06%	31.77%	32.98%	28.96%
Book Value / Share	34.9	73.34	75.57	75.83	79.76	84.09	103.16	90.12	90.5	78.6
Debt / Equity	1.43x	0.40x	0.46x	0.47x	0.65x	0.61x	0.41x	0.54x	0.62x	0.74x
Revenue Growth	0.71%	105.98%	3.99%	3.79%	-1.68%	2.93%	4.45%	-1.47%	6.96%	4.71%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Health, Wealth and Career	-	-	-	-	-	-	-	5.35B	5.66B	5.85B
Health, Wealth and Career Growth	-	-	-	-	-	-	-	-	5.68%	3.38%
Risk and Broking	-	-	-	-	-	-	-	3.47B	3.75B	4.05B
Risk and Broking Growth	-	-	-	-	-	-	-	-	7.98%	8.08%
Divested Businesses	-	-	-	-	-	-	-	-	-	-
Divested Businesses Growth	-	-	-	-	-	-	-	-	-	-
Consulting	-	-	-	-	-	-	8M	-	-	-
Consulting Growth	-	-	-	-	-	-	-	-	-	-
Product And Service Other	-	-	-	-	-	-	4M	-	-	-
Product And Service Other Growth	-	-	-	-	-	-	-	-	-	-
Human Capital And Benefits	-	-	-	3.29B	3.36B	3.33B	-	-	-	-
Human Capital And Benefits Growth	-	-	-	-	1.94%	-0.92%	-	-	-	-
Corporate Risk And Broking	-	-	-	2.85B	2.95B	2.98B	-	-	-	-
Corporate Risk And Broking Growth	-	-	-	-	3.33%	1.09%	-	-	-	-
Investment Risk And Reinsurance	-	-	-	1.56B	1.65B	1.66B	-	-	-	-
Investment Risk And Reinsurance Growth	-	-	-	-	5.24%	0.79%	-	-	-	-
Benefits Delivery And Administration	-	-	-	765M	1.05B	1.37B	-	-	-	-
Benefits Delivery And Administration Growth	-	-	-	-	36.86%	30.95%	-	-	-	-
Corporate Non	-	-	-	37M	40M	15M	-	-	-	-
Corporate Non Growth	-	-	-	-	8.11%	-62.50%	-	-	-	-
Human Capital and Benefits	-	3.21B	6.38B	-	-	-	-	-	-	-
Human Capital and Benefits Growth	-	-	98.88%	-	-	-	-	-	-	-
Corporate Risk and Broking	-	2.5B	5.3B	-	-	-	-	-	-	-
Corporate Risk and Broking Growth	-	-	111.67%	-	-	-	-	-	-	-
Investment, Risk and Reinsurance	-	1.38B	3.07B	-	-	-	-	-	-	-
Investment, Risk and Reinsurance Growth	-	-	122.14%	-	-	-	-	-	-	-
Benefits Delivery and Administration	-	-	1.46B	-	-	-	-	-	-	-
Benefits Delivery and Administration Growth	-	-	-	-	-	-	-	-	-	-
Exchange Solutions	-	652M	-	-	-	-	-	-	-	-
Exchange Solutions Growth	-	-	-	-	-	-	-	-	-	-
Operatings	3.83B	-	-	-	-	-	-	-	-	-
Operatings Growth	-	-	-	-	-	-	-	-	-	-
International	1.07B	-	-	-	-	-	-	-	-	-
International Growth	-	-	-	-	-	-	-	-	-	-
Capital, Wholesale & Reinsurance	815M	-	-	-	-	-	-	-	-	-
Capital, Wholesale & Reinsurance Growth	-	-	-	-	-	-	-	-	-	-
Willis GB formerly Global	641M	-	-	-	-	-	-	-	-	-
Willis GB formerly Global Growth	-	-	-	-	-	-	-	-	-	-
Corporate	-	-	-	-	-	-	-	-	-	-
Corporate Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	3.4B	3.82B	3.97B	4.37B	4.65B	4.62B	4.76B	5.01B	5.13B
UNITED STATES Growth	-	-	12.55%	3.90%	10.08%	6.41%	-0.62%	3.01%	5.27%	2.33%
Rest Of World	-	2.16B	2.46B	2.48B	2.59B	2.63B	2.55B	2.41B	2.63B	2.81B
Rest Of World Growth	-	-	13.63%	0.81%	4.52%	1.31%	-2.93%	-5.30%	9.03%	6.88%
UNITED KINGDOM	-	2.24B	1.81B	1.93B	1.93B	1.92B	1.63B	1.56B	1.72B	1.86B
UNITED KINGDOM Growth	-	-	-18.83%	6.12%	0.42%	-0.72%	-15.00%	-4.23%	10.24%	7.89%
IRELAND	-	92M	107M	138M	144M	157M	197M	130M	118M	131M
IRELAND Growth	-	-	16.30%	28.97%	4.35%	9.03%	25.48%	-34.01%	-9.23%	11.02%
North America	1.3B	-	-	-	-	-	-	-	-	-
North America Growth	-	-	-	-	-	-	-	-	-	-
International	1.07B	-	-	-	-	-	-	-	-	-
International Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Willis Towers Watson Public Limited Company (WTW) grew revenue by 4.7% over the past year. Growth has been modest.

Yes, Willis Towers Watson Public Limited Company (WTW) is profitable, generating $2.12B in net income for fiscal year 2024 (-1.0% net margin).

Dividend & Returns

Yes, Willis Towers Watson Public Limited Company (WTW) pays a dividend with a yield of 1.06%. This makes it attractive for income-focused investors.

Willis Towers Watson Public Limited Company (WTW) has a return on equity (ROE) of -1.1%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Willis Towers Watson Public Limited Company (WTW) has a combined ratio of 93.7%. A ratio below 100% indicates underwriting profitability.

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Willis Towers Watson Public Limited Company (WTW) 10-Year Financial Performance & Capital Metrics

WTW • • Insurance & Managed Care

Financial ServicesInsurance BrokersFull-Service Insurance BrokersGlobal Full-Service Brokers

Revenue $9.93B +4.7%
Combined Ratio 93.69% +9.4%
Net Income -$98M -109.3%
Return on Equity -1.11% -110.4%
Medical Cost Ratio 55.41% -1.7%
Operating Margin 6.31% -56.1%
Net Margin -0.99% -108.9%
ROA -0.35% -110.0%
Equity / Assets 28.96% -12.2%
Book Value per Share 78.60 -13.2%
Tangible BV/Share -20.36 +17.6%
Debt/Equity 0.74 +19.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 93.7% combined ratio
✓Low loss ratio of 55.4%
✓Share count reduced 3.8% through buybacks

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.08%

5Y3.48%

3Y3.34%

TTM-0.02%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM393.07%

EPS CAGR

10Y-

5Y-

3Y-

TTM389.24%

ROCE

10Y Avg5.81%

5Y Avg6.82%

3Y Avg6.15%

Latest3.98%

Peer Comparison

Global Full-Service Brokers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AONAon plc	74.12B	344.84	27.61	17.36%	16.03%	33.65%	3.8%	2.78
MMCMarsh & McLennan Companies, Inc.	89.29B	182.26	22.28	7.57%	15.6%	26.87%	4.46%	1.62
WTWWillis Towers Watson Public Limited Company	31.45B	328.49	-342.18	4.71%	21.58%	27.09%	4.03%	0.74

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	3.83B	7.89B	8.2B	8.51B	8.37B	8.62B	9B	8.87B	9.48B	9.93B
Revenue Growth %	0.01%	1.06%	0.04%	0.04%	-0.02%	0.03%	0.04%	-0.01%	0.07%	0.05%
Medical Costs & Claims+	2.3B	4.85B	4.97B	5.12B	4.93B	5.16B	5.25B	5.07B	5.34B	5.5B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	1.53B	3.04B	3.23B	3.39B	3.44B	3.46B	3.75B	3.8B	4.14B	4.43B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.03%	0.99%	0.06%	0.05%	0.02%	0%	0.08%	0.01%	0.09%	0.07%
Operating Expenses+	1.1B	2.69B	2.72B	2.58B	2.39B	2.6B	1.54B	2.62B	2.77B	3.8B
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	171M	769M	833M	747M	729M	770M	650M	567M	505M	456M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	427M	348M	516M	809M	1.05B	859M	2.2B	1.18B	1.36B	627M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.34%	-0.19%	0.48%	0.57%	0.3%	-0.19%	1.56%	-0.47%	0.16%	-0.54%
EBITDA+	598M	1.12B	1.35B	1.56B	1.78B	1.63B	2.85B	1.75B	1.87B	1.08B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	142M	184M	188M	208M	234M	244M	211M	208M	235M	263M
Non-Operating Income	-55M	-178M	-164M	-250M	-226M	-396M	-701M	-288M	-149M	260M
Pretax Income+	351M	344M	495M	851M	1.05B	1.01B	2.69B	1.26B	1.28B	104M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-33M	-96M	-100M	136M	197M	249M	536M	194M	215M	192M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	373M	420M	568M	695M	1.04B	996M	4.22B	1.01B	1.05B	-98M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.03%	0.13%	0.35%	0.22%	0.5%	-0.05%	3.24%	-0.76%	0.05%	-1.09%
EPS (Diluted)+	5.41	2.26	4.18	5.27	8.03	7.65	14.90	8.98	9.95	-0.96
EPS Growth %	0.02%	-0.58%	0.85%	0.26%	0.52%	-0.05%	0.95%	-0.4%	0.11%	-1.1%
EPS (Basic)	5.49	2.28	4.21	5.31	8.03	7.68	15.02	9.00	10.05	-0.96
Diluted Shares Outstanding	69M	138M	136M	132M	130M	130M	129M	112M	106M	102M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	18.89B	30.27B	32.46B	32.4B	35.51B	38.53B	34.97B	31.77B	29.09B	27.68B
Asset Growth %	0.22%	0.6%	0.07%	-0%	0.1%	0.09%	-0.09%	-0.09%	-0.08%	-0.05%
Total Investment Assets+	42M	30M	26M	7M	23M	70M	255M	90M	88M	157M
Long-Term Investments	42M	30M	26M	7M	23M	70M	55M	90M	88M	157M
Short-Term Investments	0	0	0	0	0	0	200M	0	0	0
Total Current Assets+	12.5B	13.8B	15.86B	16.42B	17.12B	20.3B	18.49B	15.84B	13.43B	15.11B
Cash & Equivalents	532M	870M	1.03B	1.03B	887M	2.04B	4.49B	1.26B	1.42B	1.89B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	10.63B	10.71B	12.45B	12.87B	13.38B	15.73B	11.29B	12.05B	9.31B	10.6B
Goodwill & Intangibles+	4.88B	14.79B	14.4B	13.79B	14.67B	14.25B	12.74B	12.45B	12.21B	10.09B
Goodwill	3.77B	10.43B	10.52B	10.48B	11.19B	11.2B	10.18B	10.17B	10.2B	8.8B
Intangible Assets	1.11B	4.37B	3.88B	3.32B	3.48B	3.04B	2.56B	2.27B	2.02B	1.29B
PP&E (Net)	563M	839M	985M	942M	2.01B	1.92B	1.57B	1.3B	1.28B	1.15B
Other Assets	826M	761M	1.14B	1.17B	1.61B	1.95B	2.04B	2.03B	1.99B	941M
Total Liabilities	16.49B	20.15B	22.18B	22.39B	25.14B	27.6B	21.66B	21.68B	19.5B	19.66B
Total Debt+	3.44B	4B	4.7B	4.72B	6.77B	6.72B	5.49B	5.48B	5.94B	5.93B
Net Debt	2.91B	3.13B	3.67B	3.69B	5.88B	4.68B	1B	4.22B	4.52B	4.04B
Long-Term Debt	2.28B	3.36B	4.45B	4.39B	5.3B	4.66B	3.97B	4.47B	4.57B	5.31B
Short-Term Debt	988M	508M	85M	186M	316M	971M	613M	250M	650M	0
Total Current Liabilities+	12.8B	13.37B	14.76B	15.3B	16.16B	19.33B	14.72B	14.78B	12.63B	12.6B
Accounts Payable	75M	117M	908M	691M	856M	857M	898M	975M	1.07B	1.05B
Deferred Revenue	752M	1.48B	1.71B	0	0	0	0	0	0	0
Other Current Liabilities	10.11B	9.49B	11.75B	13.94B	14.21B	16.65B	12.41B	12.97B	10.34B	10.89B
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	932M	2.29B	2.19B	1.99B	2.17B	2.11B	1.37B	1.05B	1.16B	1.21B
Total Equity+	2.41B	10.12B	10.28B	10.01B	10.37B	10.93B	13.31B	10.09B	9.59B	8.02B
Equity Growth %	0.17%	3.2%	0.02%	-0.03%	0.04%	0.05%	0.22%	-0.24%	-0.05%	-0.16%
Shareholders Equity	2.22B	9.95B	10.13B	9.85B	10.25B	10.82B	13.26B	10.02B	9.52B	7.94B
Minority Interest	186M	169M	151M	157M	120M	112M	48M	77M	73M	77M
Retained Earnings	1.6B	1.34B	1.1B	1.2B	1.79B	2.43B	4.64B	1.76B	1.47B	109M
Common Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.04B	-1.89B	-1.51B	-1.96B	-2.23B	-2.36B	-2.19B	-2.62B	-2.86B	-3.16B
Return on Equity (ROE)	0.17%	0.07%	0.06%	0.07%	0.1%	0.09%	0.35%	0.09%	0.11%	-0.01%
Return on Assets (ROA)	0.02%	0.02%	0.02%	0.02%	0.03%	0.03%	0.11%	0.03%	0.03%	-0%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	1.43x	0.40x	0.46x	0.47x	0.65x	0.61x	0.41x	0.54x	0.62x	0.74x
Book Value per Share	34.90	73.34	75.57	75.83	79.76	84.09	103.16	90.12	90.50	78.60
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	243M	967M	862M	1.29B	1.08B	1.77B	2.06B	812M	1.34B	1.51B
Operating CF Growth %	-0.49%	2.98%	-0.11%	0.49%	-0.16%	0.64%	0.16%	-0.61%	0.66%	0.12%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	384M	330M	592M	715M	1.07B	1.02B	4.24B	1.02B	1.05B	1.25B
Depreciation & Amortization	171M	769M	833M	747M	729M	770M	650M	567M	505M	456M
Stock-Based Compensation	64M	123M	67M	54M	74M	90M	101M	99M	125M	121M
Deferred Taxes	-99M	-136M	-285M	-115M	-72M	99M	226M	-50M	-109M	-213M
Other Non-Cash Items	-98M	-58M	-67M	-112M	67M	-149M	-2.7B	60M	140M	226M
Working Capital Changes	-179M	-61M	-278M	-1M	-790M	-56M	-449M	-888M	-371M	-326M
Cash from Investing+	-943M	188M	-335M	-341M	-1.61B	-160M	2.77B	-173M	-1.08B	250M
Capital Expenditures	-158M	-307M	-375M	-322M	-305M	-223M	-201M	-204M	-242M	0
Acquisitions	-801M	475M	-13M	-32M	-1.31B	143M	2.97B	-169M	-6M	0
Purchase of Investments	12M	0	0	0	0	0	-200M	200M	-4M	0
Sale/Maturity of Investments	1000K	0	0	0	0	0	1000K	1000K	0	0
Other Investing	1M	20M	53M	13M	3M	-80M	147M	-200M	-833M	250M
Cash from Financing+	641M	-775M	-479M	-903M	397M	378M	-3.11B	-3.44B	-1.2B	-459M
Dividends Paid	-277M	-199M	-277M	-306M	-329M	-346M	-374M	-369M	-352M	-354M
Share Repurchases	-82M	-396M	-709M	-602M	-150M	0	-1.63B	-3.53B	-1B	-901M
Stock Issued	131M	63M	61M	45M	45M	16M	10M	7M	0	0
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	1000K	1000K	1000K
Other Financing	566M	-101M	-64M	-39M	-140M	753M	-115M	323M	-342M	705M
Net Change in Cash+	-103M	338M	160M	3M	-138M	2.12B	1.59B	-2.97B	-929M	1.21B
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	635M	532M	870M	1.03B	1.03B	4.18B	6.3B	7.69B	4.72B	3.79B
Cash at End	532M	870M	1.03B	1.03B	895M	6.3B	7.89B	4.72B	3.79B	5B
Free Cash Flow+	85M	660M	487M	966M	776M	1.49B	1.86B	608M	1.1B	1.27B
FCF Growth %	-0.76%	6.76%	-0.26%	0.98%	-0.2%	0.92%	0.25%	-0.67%	0.81%	0.15%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	1.23	4.78	3.58	7.32	5.97	11.45	14.42	5.43	10.41	12.42

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	88.85%	95.59%	93.71%	90.5%	87.41%	90.03%	75.53%	86.71%	85.61%	93.69%
Medical Cost Ratio	60.15%	61.48%	60.56%	60.18%	58.89%	59.86%	58.38%	57.13%	56.35%	55.41%
Return on Equity (ROE)	16.67%	6.7%	5.57%	6.85%	10.25%	9.35%	34.84%	8.62%	10.72%	-1.11%
Return on Assets (ROA)	2.17%	1.71%	1.81%	2.14%	3.07%	2.69%	11.49%	3.02%	3.47%	-0.35%
Equity / Assets	12.74%	33.43%	31.66%	30.9%	29.2%	28.37%	38.06%	31.77%	32.98%	28.96%
Book Value / Share	34.9	73.34	75.57	75.83	79.76	84.09	103.16	90.12	90.5	78.6
Debt / Equity	1.43x	0.40x	0.46x	0.47x	0.65x	0.61x	0.41x	0.54x	0.62x	0.74x
Revenue Growth	0.71%	105.98%	3.99%	3.79%	-1.68%	2.93%	4.45%	-1.47%	6.96%	4.71%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Health, Wealth and Career	-	-	-	-	-	-	-	5.35B	5.66B	5.85B
Health, Wealth and Career Growth	-	-	-	-	-	-	-	-	5.68%	3.38%
Risk and Broking	-	-	-	-	-	-	-	3.47B	3.75B	4.05B
Risk and Broking Growth	-	-	-	-	-	-	-	-	7.98%	8.08%
Divested Businesses	-	-	-	-	-	-	-	-	-	-
Divested Businesses Growth	-	-	-	-	-	-	-	-	-	-
Consulting	-	-	-	-	-	-	8M	-	-	-
Consulting Growth	-	-	-	-	-	-	-	-	-	-
Product And Service Other	-	-	-	-	-	-	4M	-	-	-
Product And Service Other Growth	-	-	-	-	-	-	-	-	-	-
Human Capital And Benefits	-	-	-	3.29B	3.36B	3.33B	-	-	-	-
Human Capital And Benefits Growth	-	-	-	-	1.94%	-0.92%	-	-	-	-
Corporate Risk And Broking	-	-	-	2.85B	2.95B	2.98B	-	-	-	-
Corporate Risk And Broking Growth	-	-	-	-	3.33%	1.09%	-	-	-	-
Investment Risk And Reinsurance	-	-	-	1.56B	1.65B	1.66B	-	-	-	-
Investment Risk And Reinsurance Growth	-	-	-	-	5.24%	0.79%	-	-	-	-
Benefits Delivery And Administration	-	-	-	765M	1.05B	1.37B	-	-	-	-
Benefits Delivery And Administration Growth	-	-	-	-	36.86%	30.95%	-	-	-	-
Corporate Non	-	-	-	37M	40M	15M	-	-	-	-
Corporate Non Growth	-	-	-	-	8.11%	-62.50%	-	-	-	-
Human Capital and Benefits	-	3.21B	6.38B	-	-	-	-	-	-	-
Human Capital and Benefits Growth	-	-	98.88%	-	-	-	-	-	-	-
Corporate Risk and Broking	-	2.5B	5.3B	-	-	-	-	-	-	-
Corporate Risk and Broking Growth	-	-	111.67%	-	-	-	-	-	-	-
Investment, Risk and Reinsurance	-	1.38B	3.07B	-	-	-	-	-	-	-
Investment, Risk and Reinsurance Growth	-	-	122.14%	-	-	-	-	-	-	-
Benefits Delivery and Administration	-	-	1.46B	-	-	-	-	-	-	-
Benefits Delivery and Administration Growth	-	-	-	-	-	-	-	-	-	-
Exchange Solutions	-	652M	-	-	-	-	-	-	-	-
Exchange Solutions Growth	-	-	-	-	-	-	-	-	-	-
Operatings	3.83B	-	-	-	-	-	-	-	-	-
Operatings Growth	-	-	-	-	-	-	-	-	-	-
International	1.07B	-	-	-	-	-	-	-	-	-
International Growth	-	-	-	-	-	-	-	-	-	-
Capital, Wholesale & Reinsurance	815M	-	-	-	-	-	-	-	-	-
Capital, Wholesale & Reinsurance Growth	-	-	-	-	-	-	-	-	-	-
Willis GB formerly Global	641M	-	-	-	-	-	-	-	-	-
Willis GB formerly Global Growth	-	-	-	-	-	-	-	-	-	-
Corporate	-	-	-	-	-	-	-	-	-	-
Corporate Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	3.4B	3.82B	3.97B	4.37B	4.65B	4.62B	4.76B	5.01B	5.13B
UNITED STATES Growth	-	-	12.55%	3.90%	10.08%	6.41%	-0.62%	3.01%	5.27%	2.33%
Rest Of World	-	2.16B	2.46B	2.48B	2.59B	2.63B	2.55B	2.41B	2.63B	2.81B
Rest Of World Growth	-	-	13.63%	0.81%	4.52%	1.31%	-2.93%	-5.30%	9.03%	6.88%
UNITED KINGDOM	-	2.24B	1.81B	1.93B	1.93B	1.92B	1.63B	1.56B	1.72B	1.86B
UNITED KINGDOM Growth	-	-	-18.83%	6.12%	0.42%	-0.72%	-15.00%	-4.23%	10.24%	7.89%
IRELAND	-	92M	107M	138M	144M	157M	197M	130M	118M	131M
IRELAND Growth	-	-	16.30%	28.97%	4.35%	9.03%	25.48%	-34.01%	-9.23%	11.02%
North America	1.3B	-	-	-	-	-	-	-	-	-
North America Growth	-	-	-	-	-	-	-	-	-	-
International	1.07B	-	-	-	-	-	-	-	-	-
International Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Willis Towers Watson Public Limited Company (WTW) grew revenue by 4.7% over the past year. Growth has been modest.

Yes, Willis Towers Watson Public Limited Company (WTW) is profitable, generating $2.12B in net income for fiscal year 2024 (-1.0% net margin).

Dividend & Returns

Yes, Willis Towers Watson Public Limited Company (WTW) pays a dividend with a yield of 1.06%. This makes it attractive for income-focused investors.

Willis Towers Watson Public Limited Company (WTW) has a return on equity (ROE) of -1.1%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Willis Towers Watson Public Limited Company (WTW) has a combined ratio of 93.7%. A ratio below 100% indicates underwriting profitability.