Upside case
Bull case
$414+64.2%
WTW would need investors to value it at roughly 21x earnings — about 8x more generous than today's 13x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Willis Towers Watson Public Limited Company (WTW) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
29
analysts
17 bullish · 1 bearish · 29 covering WTW
Strong Buy
1
Buy
16
Hold
11
Sell
1
Strong Sell
0
Consensus Target
$338
+34.1% vs today
Scenario Range
$73 – $414
Model bear to bull value window
Coverage
29
Published analyst ratings
Valuation Context
12.9x
Forward P/E · Market cap $23.8B
WTW price targets
Three scenarios for where WTW stock could go
Current
~$252
Confidence
57 / 100
Updated
May 1, 2026
Where we are now
Current · $252
Bear
$73
Base
$273
Bull
$414
Market caseClosest to today
Base case
$273+8.0%
This is close to how the market is already pricing WTW — at roughly 14x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
$73-71.0%
If investor confidence fades or macro conditions deteriorate, a 9x multiple contraction could push WTW down roughly 71% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Willis Towers Watson Public Limited Company
WTW · NASDAQFinancial ServicesInsurance - BrokersDecember year-end
Willis Towers Watson is a global professional services firm that provides advisory, broking, and solutions across insurance, risk management, and human capital. It generates revenue primarily through consulting fees and brokerage commissions from its two main segments: Health, Wealth & Career (roughly 50%) and Risk & Broking (roughly 50%). The company's competitive advantage lies in its global scale, deep actuarial expertise, and integrated platform that combines risk management with human capital consulting.
Market Cap
$23.8B
Revenue TTM
$9.9B
Net Income TTM
$1.7B
Net Margin
16.8%
WTW Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
83%Exceptional
12 quarters tracked
Revenue Beat Rate
58%Exceptional
vs consensus estimates
Avg EPS Surprise
+2.5%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$2.86/$2.63
Revenue
$2.3B/$2.2B
Q4 2025
EPS
$3.07/$3.05
Revenue
$2.3B/$2.3B
Q1 2026
EPS
$8.12/$7.96
Revenue
$2.9B/$2.9B
Q2 2026
EPS
$3.72/$3.65
Revenue
$2.4B/$2.4B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $2.86/$2.63 | +8.7% | $2.3B/$2.2B | +1.4% |
| Q4 2025 | $3.07/$3.05 | +0.7% | $2.3B/$2.3B | +0.6% |
| Q1 2026 | $8.12/$7.96 | +2.0% | $2.9B/$2.9B | +2.9% |
| Q2 2026 | $3.72/$3.65 | +1.9% | $2.4B/$2.4B | -0.1% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$10.1B
+2.3% YoY
FY2
$10.3B
+1.5% YoY
EPS Outlook
FY1
$17.62
+1.3% YoY
FY2
$17.57
-0.3% YoY
Trailing FCF (TTM)$1.6B
FCF Margin: 15.9%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
WTW beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
WTW Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $9.7B
Product Mix
Latest annual revenue by segment or product family
Health, Wealth and Career
55.1%
-8.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
International
49.6%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Health, Wealth and Career is the largest disclosed segment at 55.1% of FY 2025 revenue, down 8.9% YoY.
International is the largest reported region at 49.6%, with no year-over-year comparison yet.
WTW Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Undervalued
Fair value est. $311 — implies +21.2% from today's price.
Upside to Fair Value
21.2%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
WTW
15.5x
vs
S&P 500
25.2x
38% discount
vs Financial Services Trailing P/E
WTW
15.5x
vs
Financial Services
13.4x
+16% premium
vs WTW 5Y Avg P/E
Today
15.5x
vs
5Y Average
21.9x
29% discount
Forward PE
12.9x
S&P 500
19.1x
-32%
Financial Services
10.5x
+23%
5Y Avg
—
—
Trailing PE
15.5x
S&P 500
25.2x
-38%
Financial Services
13.4x
+16%
5Y Avg
21.9x
-29%
PEG Ratio
0.95x
S&P 500
1.75x
-45%
Financial Services
1.03x
-7%
5Y Avg
—
—
EV/EBITDA
10.4x
S&P 500
15.3x
-32%
Financial Services
11.4x
-9%
5Y Avg
18.4x
-44%
Price/FCF
15.4x
S&P 500
21.3x
-28%
Financial Services
10.6x
+45%
5Y Avg
26.2x
-41%
Price/Sales
2.5x
S&P 500
3.1x
-22%
Financial Services
2.3x
+9%
5Y Avg
3.2x
-22%
Dividend Yield
1.43%
S&P 500
1.88%
-24%
Financial Services
2.68%
-47%
5Y Avg
1.23%
+16%
| Metric | WTW | S&P 500 | Financial Services | 5Y Avg WTW |
|---|---|---|---|---|
| Forward PE | 12.9x | 19.1x-32% | 10.5x+23% | — |
| Trailing PE | 15.5x | 25.2x-38% | 13.4x+16% | 21.9x-29% |
| PEG Ratio | 0.95x | 1.75x-45% | 1.03x | — |
| EV/EBITDA | 10.4x | 15.3x-32% | 11.4x | 18.4x-44% |
| Price/FCF | 15.4x | 21.3x-28% | 10.6x+45% | 26.2x-41% |
| Price/Sales | 2.5x | 3.1x-22% | 2.3x | 3.2x-22% |
| Dividend Yield | 1.43% | 1.88% | 2.68% | 1.23% |
WTW trades above S&P 500 benchmarks on 0 of 6 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolWTW Financial Health
Verdict
Exceptional
WTW posts 16.8% net margin with 20.8% ROE — the core signals of underwriting discipline and capital efficiency.
Underwriting & Earnings
Premium revenue, margins, and returns
Revenue (TTM)
Trailing-twelve-month sales base
$9.9B
Revenue Growth
TTM vs prior year
+0.9%
Operating Margin
Operating income divided by revenue
22.7%
Net Margin
Net income divided by revenue
16.8%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$17.40
ROE
Return on equity — measures underwriting and investment efficiency
20.8%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
14.0%
ROA
Return on assets, trailing twelve months
5.8%
Cash & Equivalents
Liquid assets on the balance sheet
$3.1B
Net Debt
Total debt minus cash
$3.8B
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity, trailing twelve months
20.8%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
8.4%
Dividend
1.4%
Buyback
6.9%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$1.6B
Dividend / Share
Annualized trailing dividend per share
$3.62
Payout Ratio
Share of earnings distributed as dividends
22.3%
Shares Outstanding
Declining as buybacks retire shares
94M
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageWTW Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Market & Economic Conditions
Adverse macroeconomic conditions could curb demand for WTW’s consulting and actuarial services, with projections indicating low single‑digit growth potential. Falling asset prices and stagnant insurance pricing, along with declines in property‑and‑casualty (re)insurance rates, threaten client pension benefit assets and the firm’s overall financial health.
High Risk
Financial & FX Risks
Fluctuations in foreign‑exchange rates introduce uncertainty into WTW’s earnings. Recent quarterly results show year‑over‑year declines in revenue and net profit, underscoring the impact of operating efficiency and revenue trends on financial stability.
Medium
Geopolitical & Social Unrest
WTW’s crisis‑management services have seen a rise in incidents involving threats to people or assets, with Sub‑Saharan Africa—particularly the DRC—reporting a high number of notifications due to conflict and disease. Ongoing geopolitical volatility, economic pressure, and activism are expected to keep these risks elevated.
Medium
Technological Disruption (AI)
WTW faces a higher risk of AI‑driven disintermediation compared to some competitors, owing to its significant exposure to consulting services. Advances in AI could erode traditional advisory revenue streams if the firm fails to adapt.
Medium
Emerging & Interconnected Risks
The firm’s surveys highlight climate risk, cyber risk, and people risks—such as talent strategy and employee well‑being—as interconnected threats that demand urgent action. These emerging risks could disrupt operations and erode client confidence if not proactively managed.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why WTW Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Robust Q3 Earnings Growth
In Q3 2024, WTW reported a 31% year‑over‑year increase in Adjusted EPS and a 6% rise in revenue. The company reaffirmed its full‑year margin outlook, signaling continued profitability improvement.
Margin Expansion in Risk & Broking
The risk and broking segment has shown robust organic growth, fueled by strategic investments in talent and technology. This expansion has been a key driver of WTW’s earnings growth.
Aggressive Share Repurchase Program
WTW increased its share repurchase authorization by $1 billion, bringing the total to $1.66 billion. This represents about 5.3% of shares outstanding, underscoring a strong use of capital.
Strategic Acquisitions Driving Revenue
The firm is closing three acquisitions, with Newfront already integrated. Cushon and FlowStone are expected to add substantial annual revenue, expanding WTW’s service footprint.
Defensive Fee‑Based Business Model
WTW’s fee‑based, sticky business model and low beta make it a defensive play. Institutional investors favor the stock for its stability and consistent cash flow.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
WTW Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$252.41
52W Range Position
5%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$246.60
+2.4% from the low
52-Week High
$352.79
-28.5% from the high
1 Month
-13.27%
3 Month
-23.52%
YTD
-22.6%
1 Year
-17.9%
3Y CAGR
+3.3%
5Y CAGR
-1.1%
10Y CAGR
+7.6%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
WTW vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
12.9x
vs 14.9x median
-13% below peer median
Revenue Growth
+2.3%
vs +7.3% median
-69% below peer median
Net Margin
16.8%
vs 16.7% median
+1% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
WTW WTW Willis Towers Watson Public Limited Company | $23.8B | 12.9x | +2.3% | 16.8% | Buy | +34.1% |
MMC MMC Marsh & McLennan Companies, Inc. | $85.3B | 16.9x | +7.3% | 15.6% | Hold | +18.8% |
AON AON Aon plc | $66.0B | 16.2x | +6.6% | 22.5% | Buy | +31.2% |
AJG AJG Arthur J. Gallagher & Co. | $50.6B | 14.9x | +19.3% | 10.7% | Buy | +39.3% |
BRO BRO Brown & Brown, Inc. | $19.3B | 12.5x | +18.4% | 17.9% | Hold | +56.5% |
HWC HWC Hancock Whitney Corporation | $5.6B | 10.8x | -4.8% | — | Buy | +13.3% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
WTW Dividend and Capital Return
WTW returns capital mainly through $1.6B/year in buybacks (6.7% buyback yield), with a modest 1.39% dividend — combining for 8.1% total shareholder yield. The dividend has grown for 9 consecutive years.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
8.1%
Dividend + buyback return per year
Buyback Yield
6.7%
Dividend Yield
1.39%
Payout Ratio
22.3%
How WTW Splits Its Return
Div 1.39%
Buyback 6.7%
Dividend 1.39%Buybacks 6.7%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$3.62
Growth Streak
Consecutive years of dividend increases
9Y
3Y Div CAGR
3.9%
5Y Div CAGR
6.0%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$1.6B
Estimated Shares Retired
7M
Approx. Share Reduction
6.9%
Shares Outstanding
Current diluted share count from the screening snapshot
94M
At 6.9%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.96 | — | — | — |
| 2025 | $3.68 | +4.5% | 5.1% | 6.2% |
| 2024 | $3.52 | +4.8% | 2.8% | 3.9% |
| 2023 | $3.36 | +2.4% | 3.9% | 5.3% |
| 2022 | $3.28 | +8.6% | 12.9% | 14.2% |
FAQ
7 questionsWTW Investor Questions
Common questions answered from live analyst data and company financials.
01Is Willis Towers Watson Public Limited Company (WTW) stock a buy or sell in 2026?
Willis Towers Watson Public Limited Company (WTW) is rated Buy by Wall Street analysts as of 2026. Of 29 analysts covering the stock, 17 rate it Buy or Strong Buy, 11 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $338, implying +34.1% from the current price of $252. The bear case scenario is $73 and the bull case is $414.
02What is the WTW stock price target for 2026?
The Wall Street consensus price target for WTW is $338 based on 29 analyst estimates. The high-end target is $409 (+62.0% from today), and the low-end target is $275 (+8.9%). The base case model target is $273.
03Is Willis Towers Watson Public Limited Company (WTW) stock overvalued in 2026?
WTW trades at 12.9x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Willis Towers Watson Public Limited Company (WTW) stock in 2026?
The primary risks for WTW in 2026 are: (1) Market & Economic Conditions — Adverse macroeconomic conditions could curb demand for WTW’s consulting and actuarial services, with projections indicating low single‑digit growth potential. (2) Financial & FX Risks — Fluctuations in foreign‑exchange rates introduce uncertainty into WTW’s earnings. (3) Geopolitical & Social Unrest — WTW’s crisis‑management services have seen a rise in incidents involving threats to people or assets, with Sub‑Saharan Africa—particularly the DRC—reporting a high number of notifications due to conflict and disease. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Willis Towers Watson Public Limited Company's revenue and earnings forecast?
Analyst consensus estimates WTW will report consensus revenue of $10.1B (+2.3% year-over-year) and EPS of $17.62 (+1.3% year-over-year) for the upcoming fiscal year. The following year, analysts project $10.3B in revenue.
06When does Willis Towers Watson Public Limited Company (WTW) report its next earnings?
A confirmed upcoming earnings date for WTW is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Willis Towers Watson Public Limited Company generate?
Willis Towers Watson Public Limited Company (WTW) generated $1.6B in free cash flow over the trailing twelve months — a free cash flow margin of 15.9%. WTW returns capital to shareholders through dividends (1.4% yield) and share repurchases ($1.6B TTM).