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WTW logoWillis Towers Watson Public Limited Company(WTW)Earnings, Financials & Key Ratios

WTW•NASDAQ•Insurance & Managed Care
$252.41
$23.8B mkt cap·15.5× P/E·Price updated May 6, 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%
  • Book Value per Share81.33+3.5%
  • Tangible BV/Share-20.47-0.6%
  • Debt/Equity0.86+15.9%
Analysis→Technical→

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

  • ✗Weak momentum: RS Rating 20 (bottom 20%)

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

WTW Price & Volume

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

Loading chart...

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
EPS
$3.72
Est $3.65
+1.9%
Revenue
$2.4B
Est $2.4B
-0.1%
Q1 2026
Feb 3, 2026
EPS
$8.12
Est $7.96
+2.0%
Revenue
$2.9B
Est $2.9B
+2.9%
Q4 2025
Oct 30, 2025
EPS
$3.07
Est $3.05
+0.7%
Revenue
$2.3B
Est $2.3B
+0.6%
Q3 2025
Jul 31, 2025
EPS
$2.86
Est $2.63
+8.7%
Revenue
$2.3B
Est $2.2B
+1.4%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 30, 2026
$3.72vs $3.65+1.9%
$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
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 Competitor66.04B308.2218.119.45%22.54%44.16%1.73
AJG logoAJGArthur J. Gallagher & Co.Direct Competitor50.63B196.9134.2520.66%10.72%6.5%0.60
BRO logoBROBrown & Brown, Inc.Direct Competitor19.25B56.5617.9026.59%17.87%9.33%0.63
HWC logoHWCHancock Whitney CorporationProduct Competitor5.6B68.6312.08-1.52%11.06%0.30
RYAN logoRYANRyan Specialty Holdings, Inc.Product Competitor3.81B29.3962.5321.28%4.17%10.77%2.82
ERIE logoERIEErie Indemnity CompanyProduct Competitor9.86B213.5620.117.17%13.2%25.03%
ACGL logoACGLArch Capital Group Ltd.Product Competitor33.74B94.708.1514.27%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
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue8.2B8.51B8.37B8.62B9B8.87B9.48B9.93B9.71B9.9B
Revenue Growth %3.99%3.79%-1.68%2.93%4.45%-1.47%6.96%4.71%-2.24%0.87%
Medical Costs & Claims4.97B5.12B4.93B5.16B5.25B5.07B5.34B5.5B5.63B6.12B
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 Expenses2.72B2.58B2.39B2.6B1.54B2.62B2.77B3.8B1.85B1.53B
OpEx / Revenue %33.15%30.32%28.52%30.17%17.15%29.58%29.25%38.28%19.05%15.43%
Depreciation & Amortization833M747M729M770M650M567M505M456M418M374M
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%-
EBITDA1.35B1.56B1.78B1.63B2.85B1.75B1.87B1.08B2.65B2.62B
EBITDA Margin %16.45%18.28%21.3%18.91%31.7%19.68%19.72%10.91%27.32%26.51%
Interest Expense188M208M234M244M211M208M235M263M260M272M
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 Outstanding136M132M130M130M129M112M106M102M99M95.81M

WTW Balance Sheet

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

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets32.46B32.4B35.51B38.53B34.97B31.77B29.09B27.68B29.53B29.64B
Asset Growth %7.22%-0.19%9.62%8.5%-9.24%-9.15%-8.43%-4.84%6.68%9.42%
Total Investment Assets26M7M23M70M255M90M88M157M02M
Long-Term Investments26M7M23M70M55M90M88M157M0462M
Short-Term Investments0000200M00000
Total Current Assets15.86B16.42B17.12B20.3B18.49B15.84B13.43B15.11B16.87B16.09B
Cash & Equivalents1.03B1.03B887M2.04B4.49B1.26B1.42B1.89B3.13B1.85B
Receivables2.25B2.38B2.62B2.41B2.37B2.39B2.57B2.49B2.7B10.59B
Other Current Assets12.45B12.87B13.38B15.73B11.29B12.05B9.31B10.6B10.45B11.58B
Goodwill & Intangibles14.4B13.79B14.67B14.25B12.74B12.45B12.21B10.09B10.08B41.31B
Goodwill10.52B10.48B11.19B11.2B10.18B10.17B10.2B8.8B8.94B9.66B
Intangible Assets3.88B3.32B3.48B3.04B2.56B2.27B2.02B1.29B1.14B1.27B
PP&E (Net)985M942M2.01B1.92B1.57B1.3B1.28B1.15B1.18B1.17B
Other Assets1.14B1.17B1.61B1.95B2.04B2.03B1.99B941M1.4B1.45B
Total Liabilities22.18B22.39B25.14B27.6B21.66B21.68B19.5B19.66B21.48B21.58B
Total Debt4.7B4.72B6.77B6.72B5.49B5.48B5.94B5.93B6.9B6.79B
Net Debt3.67B3.69B5.88B4.68B1B4.22B4.52B4.04B3.77B4.93B
Long-Term Debt4.45B4.39B5.3B4.66B3.97B4.47B4.57B5.31B5.76B6.79B
Short-Term Debt85M186M316M971M613M250M650M0550M0
Total Current Liabilities14.76B15.3B16.16B19.33B14.72B14.78B12.63B12.6B14B13.55B
Accounts Payable908M691M856M857M898M975M1.07B1.05B00
Deferred Revenue1.71B000000001.54B
Other Current Liabilities11.75B13.94B14.21B16.65B12.41B12.97B10.34B10.89B13.33B12B
Deferred Taxes1000K1000K1000K1000K1000K1000K1000K1000K075M
Other Liabilities2.19B1.99B2.17B2.11B1.37B1.05B1.16B1.21B1.25B1.24B
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 Equity10.13B9.85B10.25B10.82B13.26B10.02B9.52B7.94B7.98B7.98B
Minority Interest151M157M120M112M48M77M73M77M76M82M
Retained Earnings1.1B1.2B1.79B2.43B4.64B1.76B1.47B109M-296M-392M
Common Stock0000000000
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 / Assets31.66%30.9%29.2%28.37%38.06%31.77%32.98%28.96%27.27%27.19%
Debt / Equity0.46x0.47x0.65x0.61x0.41x0.54x0.62x0.74x0.86x0.86x
Book Value per Share75.5775.8379.7684.09103.1690.1290.5078.6081.3384.12
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

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations862M1.29B1.08B1.77B2.06B812M1.34B1.51B1.77B1.77B
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%17.93%
Net Income592M715M1.07B1.02B4.24B1.02B1.05B1.25B1.61B1.67B
Depreciation & Amortization833M747M729M770M650M567M505M456M226M372M
Stock-Based Compensation67M54M74M90M101M99M125M121M153M158M
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 Investments0000-200M200M-4M-15M-125M-62M
Sale/Maturity of Investments000053M200M00016M
Other Investing53M13M3M-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 Issued61M45M45M16M10M7M0000
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 Effect112M-41M-2M126M-127M-164M11M-97M203M94M
Cash at Beginning870M1.03B1.03B4.18B6.3B7.69B4.72B3.79B5B6.49B
Cash at End1.03B1.03B895M6.3B7.89B4.72B3.79B5B6.49B5.41B
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 Share3.587.325.9711.4514.425.4310.4112.4215.6215.62

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 Ratio93.71%90.5%87.41%90.03%75.53%86.71%85.61%93.69%76.99%77.27%
Medical Cost Ratio60.56%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 / Assets31.66%30.9%29.2%28.37%38.06%31.77%32.98%28.96%27.27%27.19%
Book Value / Share75.5775.8379.7684.09103.1690.1290.578.681.3384.12
Debt / Equity0.46x0.47x0.65x0.61x0.41x0.54x0.62x0.74x0.86x0.86x
Revenue Growth3.99%3.79%-1.68%2.93%4.45%-1.47%6.96%4.71%-2.24%0.87%

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 1.43%. 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.

Explore More WTW

Willis Towers Watson Public Limited Company (WTW) financial analysis — history, returns, DCA and operating performance tools

Full WTW Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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