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WTWWillis Towers Watson Public Limited Company
$255.20$24.1B
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WTW logoWillis Towers Watson Public Limited Company(WTW)Earnings, Financials & Key Ratios

WTW•NASDAQ•Insurance & Managed Care
15.7× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryInsurance BrokersSub-IndustryCommercial insurance brokerages
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$9.71B-2.2%
  • Combined Ratio76.99%-17.8%
  • Net Income$1.6B+1737.8%
  • Return on Equity19.98%+1894.8%
  • Medical Cost Ratio57.94%+4.6%
  • Operating Margin23.01%+264.4%
  • Net Margin16.53%+1775.2%
  • ROA5.61%+1725.4%
  • Equity / Assets27.27%-5.9%

WTW Key Insights

Willis Towers Watson Public Limited Company (WTW) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Profitable underwriting: 77.0% combined ratio
  • ✓Low loss ratio of 57.9%
  • ✓Share count reduced 2.9% through buybacks

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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WTW Price & Volume

Willis Towers Watson Public Limited Company (WTW) stock price & volume — 10-year historical chart

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WTW Growth Metrics

Willis Towers Watson Public Limited Company (WTW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years9.75%
5 Years2.42%
3 Years3.07%
TTM0.87%

Profit CAGR

10 Years15.71%
5 Years10.01%
3 Years16.73%
TTM3245.28%

EPS CAGR

10 Years11.63%
5 Years16.28%
3 Years21.88%
TTM3460.78%

Return on Capital

10 Years6.51%
5 Years8.85%
3 Years8.91%
Last Year14.6%

WTW Recent Earnings

Willis Towers Watson Public Limited Company (WTW) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Apr 30, 2026
Metric
Actual
Est
EPS
$3.72+1.6%
$3.66
Rev
$2.4B-0.1%
$2.4B
Q1 2026
Feb 3, 2026
Metric
Actual
Est
EPS
$8.12+2.0%
$7.96
Rev
$2.9B+2.9%
$2.9B
Q4 2025
Oct 30, 2025
Metric
Actual
Est
EPS
$3.07+0.7%
$3.05
Rev
$2.3B+0.6%
$2.3B
Q3 2025
Jul 31, 2025
Metric
Actual
Est
EPS
$2.86+8.7%
$2.63
Rev
$2.3B+1.4%
$2.2B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 30, 2026
$3.72vs $3.66+1.6%
$2.4Bvs $2.4B-0.1%
Q1 2026Feb 3, 2026
$8.12vs $7.96+2.0%
$2.9Bvs $2.9B+2.9%
Q4 2025Oct 30, 2025
$3.07vs $3.05+0.7%
$2.3Bvs $2.3B+0.6%
Q3 2025Jul 31, 2025
$2.86vs $2.63+8.7%
$2.3Bvs $2.2B+1.4%
Based on last 12 quarters of dataView full earnings history →

WTW Peer Comparison

Willis Towers Watson Public Limited Company (WTW) competitors in Commercial insurance brokerages — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MMC logoMMCMarsh & McLennan Companies, Inc.Direct Competitor85.27B174.0621.287.57%15.6%26.87%1.62
AON logoAONAon plcDirect Competitor68.08B317.7418.679.45%22.54%44.16%1.73
AJG logoAJGArthur J. Gallagher & Co.Direct Competitor55.03B214.0637.2320.66%10.72%6.5%0.60
BRO logoBROBrown & Brown, Inc.Direct Competitor20.12B59.1018.7026.59%17.87%9.33%0.63
HWC logoHWCHancock Whitney CorporationProduct Competitor5.73B70.2412.37-1.52%24.08%11.06%0.30
RYAN logoRYANRyan Specialty Holdings, Inc.Product Competitor4.53B34.9774.4021.28%4.17%10.77%2.82
ERIE logoERIEErie Indemnity CompanyProduct Competitor10.21B221.1420.827.17%13.2%25.03%
ACGL logoACGLArch Capital Group Ltd.Product Competitor32.48B91.187.8514.27%22.07%19.02%0.11

Compare WTW vs Peers

Willis Towers Watson Public Limited Company (WTW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MMC

Most directly comparable listed peer for WTW.

Scale Benchmark

vs MCO

Larger-name benchmark to compare WTW against a more recognizable public peer.

Peer Set

Compare Top 5

vs MMC, AON, AJG, BRO

WTW Income Statement

Willis Towers Watson Public Limited Company (WTW) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue
8.2B8.51B8.37B8.62B9B8.87B9.48B9.93B9.71B9.9B
Revenue Growth %
3.99%3.79%-1.68%2.93%4.45%-1.47%6.96%4.71%-2.24%0.87%
Medical Costs & Claims
4.97B5.12B4.93B5.16B5.25B5.07B5.34B5.5B5.63B6.12B
Medical Cost Ratio %
60.56%60.18%58.89%59.86%58.38%57.13%56.35%55.41%57.94%61.84%
Gross Profit
3.23B▲ 0%
3.39B▲ 4.8%
3.44B▲ 1.5%
3.46B▲ 0.5%
3.75B▲ 8.3%
3.8B▲ 1.5%
4.14B▲ 8.9%
4.43B▲ 7.0%
4.08B▼ 7.8%
3.78B▲ 0%
Gross Margin %
39.44%39.82%41.11%40.14%41.62%42.87%43.65%44.59%42.06%38.16%
Gross Profit Growth %
6.48%4.79%1.5%0.49%8.3%1.5%8.89%6.98%-7.79%-
Operating Expenses
2.72B2.58B2.39B2.6B1.54B2.62B2.77B3.8B1.85B1.53B
OpEx / Revenue %
33.15%30.32%28.52%30.17%17.15%29.58%29.25%38.28%19.05%15.43%
Depreciation & Amortization
833M747M729M770M650M567M505M456M418M374M
Combined Ratio %
93.71%90.5%87.41%90.03%75.53%86.71%85.61%93.69%76.99%77.27%
Operating Income
516M▲ 0%
809M▲ 56.8%
1.05B▲ 30.3%
859M▼ 18.5%
2.2B▲ 156.3%
1.18B▼ 46.5%
1.36B▲ 15.9%
627M▼ 54.1%
2.23B▲ 256.3%
2.25B▲ 0%
Operating Margin %
6.29%9.5%12.59%9.97%24.47%13.29%14.39%6.31%23.01%22.73%
Operating Income Growth %
48.28%56.78%30.28%-18.5%156.34%-46.5%15.87%-54.07%256.3%-
EBITDA
1.35B1.56B1.78B1.63B2.85B1.75B1.87B1.08B2.65B2.62B
EBITDA Margin %
16.45%18.28%21.3%18.91%31.7%19.68%19.72%10.91%27.32%26.51%
Interest Expense
188M208M234M244M211M208M235M263M260M272M
Non-Operating Income
-164M-250M-226M-396M-701M-288M-149M260M-23M-65M
Pretax Income
495M▲ 0%
851M▲ 71.9%
1.05B▲ 22.9%
1.01B▼ 3.3%
2.69B▲ 166.3%
1.26B▼ 53.3%
1.28B▲ 1.7%
104M▼ 91.9%
1.93B▲ 1756.7%
2B▲ 0%
Pretax Margin %
6.04%10%12.5%11.74%29.92%14.19%13.49%1.05%19.89%20.24%
Income Tax
-100M136M197M249M536M194M215M192M318M323M
Effective Tax Rate %
-20.2%15.98%18.83%24.63%19.91%15.42%16.81%184.62%16.47%16.13%
Net Income
568M▲ 0%
695M▲ 22.4%
1.04B▲ 50.2%
996M▼ 4.6%
4.22B▲ 323.9%
1.01B▼ 76.1%
1.05B▲ 4.6%
-98M▼ 109.3%
1.6B▲ 1737.8%
1.67B▲ 0%
Net Margin %
6.93%8.16%12.47%11.56%46.92%11.38%11.13%-0.99%16.53%16.84%
Net Income Growth %
35.24%22.36%50.22%-4.6%323.9%-76.1%4.56%-109.29%1737.76%3245.28%
EPS (Diluted)
4.18▲ 0%
5.27▲ 26.1%
8.03▲ 52.4%
7.65▼ 4.7%
14.90▲ 94.8%
8.98▼ 39.7%
9.95▲ 10.8%
-0.96▼ 109.6%
16.26▲ 1793.8%
17.40▲ 0%
EPS Growth %
84.96%26.08%52.37%-4.73%94.77%-39.73%10.8%-109.65%1793.75%3460.78%
EPS (Basic)
4.215.318.037.6815.029.0010.05-0.9616.34-
Diluted Shares Outstanding
136M132M130M130M129M112M106M102M99M95.81M

WTW Balance Sheet

Willis Towers Watson Public Limited Company (WTW) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets
32.46B32.4B35.51B38.53B34.97B31.77B29.09B27.68B29.53B29.64B
Asset Growth %
7.22%-0.19%9.62%8.5%-9.24%-9.15%-8.43%-4.84%6.68%9.42%
Total Investment Assets
26M7M23M70M255M90M88M157M02M
Long-Term Investments
26M7M23M70M55M90M88M157M0462M
Short-Term Investments
0000200M00000
Total Current Assets
15.86B16.42B17.12B20.3B18.49B15.84B13.43B15.11B16.87B16.09B
Cash & Equivalents
1.03B1.03B887M2.04B4.49B1.26B1.42B1.89B3.13B1.85B
Receivables
2.25B2.38B2.62B2.41B2.37B2.39B2.57B2.49B2.7B10.59B
Other Current Assets
12.45B12.87B13.38B15.73B11.29B12.05B9.31B10.6B10.45B11.58B
Goodwill & Intangibles
14.4B13.79B14.67B14.25B12.74B12.45B12.21B10.09B10.08B41.31B
Goodwill
10.52B10.48B11.19B11.2B10.18B10.17B10.2B8.8B8.94B9.66B
Intangible Assets
3.88B3.32B3.48B3.04B2.56B2.27B2.02B1.29B1.14B1.27B
PP&E (Net)
985M942M2.01B1.92B1.57B1.3B1.28B1.15B1.18B1.17B
Other Assets
1.14B1.17B1.61B1.95B2.04B2.03B1.99B941M1.4B1.45B
Total Liabilities
22.18B22.39B25.14B27.6B21.66B21.68B19.5B19.66B21.48B21.58B
Total Debt
4.7B4.72B6.77B6.72B5.49B5.48B5.94B5.93B6.9B6.79B
Net Debt
3.67B3.69B5.88B4.68B1B4.22B4.52B4.04B3.77B4.93B
Long-Term Debt
4.45B4.39B5.3B4.66B3.97B4.47B4.57B5.31B5.76B6.79B
Short-Term Debt
85M186M316M971M613M250M650M0550M0
Total Current Liabilities
14.76B15.3B16.16B19.33B14.72B14.78B12.63B12.6B14B13.55B
Accounts Payable
908M691M856M857M898M975M1.07B1.05B00
Deferred Revenue
1.71B000000001.54B
Other Current Liabilities
11.75B13.94B14.21B16.65B12.41B12.97B10.34B10.89B13.33B12B
Deferred Taxes
1000K1000K1000K1000K1000K1000K1000K1000K075M
Other Liabilities
2.19B1.99B2.17B2.11B1.37B1.05B1.16B1.21B1.25B1.24B
Total Equity
10.28B▲ 0%
10.01B▼ 2.6%
10.37B▲ 3.6%
10.93B▲ 5.4%
13.31B▲ 21.7%
10.09B▼ 24.2%
9.59B▼ 5.0%
8.02B▼ 16.4%
8.05B▲ 0.4%
8.06B▲ 0%
Equity Growth %
1.54%-2.61%3.6%5.43%21.73%-24.16%-4.95%-16.43%0.44%-11.4%
Shareholders Equity
10.13B9.85B10.25B10.82B13.26B10.02B9.52B7.94B7.98B7.98B
Minority Interest
151M157M120M112M48M77M73M77M76M82M
Retained Earnings
1.1B1.2B1.79B2.43B4.64B1.76B1.47B109M-296M-392M
Common Stock
0000000000
Accumulated OCI
-1.51B-1.96B-2.23B-2.36B-2.19B-2.62B-2.86B-3.16B-2.83B-2.87B
Return on Equity (ROE)
5.57%6.85%10.25%9.35%34.84%8.62%10.72%-1.11%19.98%20.77%
Return on Assets (ROA)
1.81%2.14%3.07%2.69%11.49%3.02%3.47%-0.35%5.61%5.79%
Equity / Assets
31.66%30.9%29.2%28.37%38.06%31.77%32.98%28.96%27.27%27.19%
Debt / Equity
0.46x0.47x0.65x0.61x0.41x0.54x0.62x0.74x0.86x0.84x
Book Value per Share
75.5775.8379.7684.09103.1690.1290.5078.6081.3384.12
Tangible BV per Share
-30.32-28.68-33.10-25.504.42-21.01-24.70-20.36-20.47-30.04

WTW Cash Flow Statement

Willis Towers Watson Public Limited Company (WTW) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
862M1.29B1.08B1.77B2.06B812M1.34B1.51B1.77B1.8B
Operating CF Growth %
-10.86%49.42%-16.07%64.11%16.18%-60.6%65.64%12.42%17.39%129.5%
Operating CF / Revenue %
10.51%15.13%12.92%20.59%22.91%9.16%14.18%15.23%18.28%18.19%
Net Income
592M715M1.07B1.02B4.24B1.02B1.05B1.25B1.61B1.67B
Depreciation & Amortization
833M747M729M770M650M567M505M456M226M372M
Stock-Based Compensation
67M54M74M90M101M99M125M121M153M158M
Deferred Taxes
-285M-115M-72M99M226M-50M-109M-213M55M-69M
Other Non-Cash Items
-67M-112M67M-149M-2.7B60M140M226M439M328M
Working Capital Changes
-278M-1M-790M-56M-449M-888M-371M-326M-711M-669M
Cash from Investing
-335M-341M-1.61B-160M2.77B-173M-1.08B250M447M-309M
Capital Expenditures
-375M-322M-305M-223M-201M-204M-242M-245M-229M-233M
Acquisitions
-13M-32M-1.31B143M2.97B-169M-6M515M855M21M
Purchase of Investments
0000-200M200M-4M-15M-125M-62M
Sale/Maturity of Investments
000053M200M00016M
Other Investing
53M13M3M-80M147M-200M-833M-5M-54M-51M
Cash from Financing
-479M-903M397M378M-3.11B-3.44B-1.2B-459M-936M-1.16B
Dividends Paid
-277M-306M-329M-346M-374M-369M-352M-354M-358M-358M
Share Repurchases
-709M-602M-150M0-1.63B-3.53B-1B-901M-1.65B-1.75B
Stock Issued
61M45M45M16M10M7M0000
Debt Issuance (Net)
1000K1000K1000K-1000K-1000K1000K1000K1000K1000K-4M
Other Financing
-64M-39M-140M753M-115M323M-342M705M88M950M
Net Change in Cash
160M▲ 0%
3M▼ 98.1%
-138M▼ 4700.0%
2.12B▲ 1634.8%
1.59B▼ 24.9%
-2.97B▼ 286.8%
-929M▲ 68.7%
1.21B▲ 229.8%
1.49B▲ 23.5%
422M▲ 0%
Exchange Rate Effect
112M-41M-2M126M-127M-164M11M-97M203M94M
Cash at Beginning
870M1.03B1.03B4.18B6.3B7.69B4.72B3.79B5B6.49B
Cash at End
1.03B1.03B895M6.3B7.89B4.72B3.79B5B6.49B5.41B
Free Cash Flow
487M▲ 0%
966M▲ 98.4%
776M▼ 19.7%
1.49B▲ 91.8%
1.86B▲ 25.0%
608M▼ 67.3%
1.1B▲ 81.4%
1.27B▲ 14.9%
1.55B▲ 22.0%
1.57B▲ 0%
FCF Growth %
-26.21%98.36%-19.67%91.75%25%-67.31%81.41%14.87%22.02%7.59%
FCF Margin %
5.94%11.35%9.27%17.27%20.67%6.86%11.63%12.76%15.93%15.89%
FCF per Share
3.587.325.9711.4514.425.4310.4112.4215.6216.42

WTW Key Ratios

Willis Towers Watson Public Limited Company (WTW) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Combined Ratio
93.71%90.5%87.41%90.03%75.53%86.71%85.61%93.69%76.99%77.27%
Medical Cost Ratio
60.56%60.18%58.89%59.86%58.38%57.13%56.35%55.41%57.94%61.84%
Return on Equity (ROE)
5.57%6.85%10.25%9.35%34.84%8.62%10.72%-1.11%19.98%20.77%
Return on Assets (ROA)
1.81%2.14%3.07%2.69%11.49%3.02%3.47%-0.35%5.61%5.79%
Equity / Assets
31.66%30.9%29.2%28.37%38.06%31.77%32.98%28.96%27.27%27.19%
Book Value / Share
75.5775.8379.7684.09103.1690.1290.578.681.3384.12
Debt / Equity
0.46x0.47x0.65x0.61x0.41x0.54x0.62x0.74x0.86x0.84x
Revenue Growth
3.99%3.79%-1.68%2.93%4.45%-1.47%6.96%4.71%-2.24%0.87%
Related:WTW Dividend History·WTW Revenue History·WTW Price History·WTW P/E History·WTW Financial Ratios·WTW Institutional Holders

WTW SEC Filings & Documents

Willis Towers Watson Public Limited Company (WTW) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 30, 2026·SEC

Material company update

Feb 3, 2026·SEC

Material company update

Jan 27, 2026·SEC

10-K Annual Reports

1
FY 2026

Feb 25, 2026·SEC

10-Q Quarterly Reports

4
FY 2026

Apr 30, 2026·SEC

FY 2025

Oct 30, 2025·SEC

FY 2025

Aug 1, 2025·SEC

WTW Frequently Asked Questions

Willis Towers Watson Public Limited Company (WTW) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Willis Towers Watson Public Limited Company (WTW) saw revenue decline by 2.2% over the past year.

Yes, Willis Towers Watson Public Limited Company (WTW) is profitable, generating $1.67B in net income for fiscal year 2025 (16.5% net margin).

Dividend & Returns

Yes, Willis Towers Watson Public Limited Company (WTW) pays a dividend with a yield of 1.42%. This makes it attractive for income-focused investors.

Willis Towers Watson Public Limited Company (WTW) has a return on equity (ROE) of 20.0%. This is reasonable for most industries.

Industry Metrics

Willis Towers Watson Public Limited Company (WTW) has a combined ratio of 77.0%. A ratio below 100% indicates underwriting profitability.

What if you invested $1,000 in WTW back in 2000?

Total return calculator · dividends reinvested · 26+ years of data

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