Willis Towers Watson Public Limited Company (WTW) Financial Ratios
26 years of historical data (2000–2025) · Financial Services · Insurance - Brokers
EV/EBITDA
↑
10.49
↓-43% vs avg
5yr avg: 18.44
30Y Low7.7·High33.2
P/FCF
↑
15.56
↓-41% vs avg
5yr avg: 26.19
30Y Low13.1·High104.4
P/B Ratio
↑
3.14
-0% vs avg
5yr avg: 3.14
30Y Low1.7·High5.3
ROE
↓
20.0%
↓+37% vs avg
5yr avg: 14.6%
30Y Low-21%·High37%
Debt/EBITDA
↑
2.60
↓-20% vs avg
5yr avg: 3.26
30Y Low0.6·High5.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WTW Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Willis Towers Watson Public Limited Company trades at 15.7x earnings, 28% below its 5-year average of 21.9x, sitting at the 23rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 16%. On a free-cash-flow basis, the stock trades at 15.6x P/FCF, 41% below the 5-year average of 26.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $24.1B | $32.5B | $32.0B | $25.6B | $27.4B | $30.6B | $27.4B | $26.3B | $20.0B | $20.5B | $16.9B |
| Enterprise Value | $27.8B | $36.3B | $36.0B | $30.1B | $31.6B | $31.6B | $32.1B | $32.1B | $23.7B | $24.2B | $20.0B |
| P/E Ratio → | 15.70 | 20.21 | — | 24.24 | 27.24 | 15.94 | 27.54 | 25.15 | 28.82 | 36.05 | 54.11 |
| P/S Ratio | 2.48 | 3.35 | 3.22 | 2.70 | 3.09 | 3.40 | 3.18 | 3.14 | 2.35 | 2.50 | 2.14 |
| P/B Ratio | 3.14 | 4.04 | 3.99 | 2.67 | 2.71 | 2.30 | 2.51 | 2.53 | 2.00 | 1.99 | 1.67 |
| P/FCF | 15.56 | 21.04 | 25.22 | 23.18 | 45.05 | 16.47 | 18.41 | 33.83 | 20.75 | 42.08 | 25.57 |
| P/OCF | 13.55 | 18.33 | 21.13 | 19.01 | 33.74 | 14.86 | 15.44 | 24.29 | 15.56 | 23.77 | 17.45 |
P/E links to full P/E history page with 30-year chart
WTW EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Willis Towers Watson Public Limited Company's enterprise value stands at 10.5x EBITDA, 43% below its 5-year average of 18.4x. The Financial Services sector median is 11.4x, placing the stock at a 8% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.74 | 3.62 | 3.17 | 3.57 | 3.52 | 3.72 | 3.84 | 2.79 | 2.95 | 2.54 |
| EV / EBITDA | 10.49 | 13.69 | 33.23 | 16.09 | 18.11 | 11.09 | 19.69 | 18.02 | 15.25 | 17.91 | 17.91 |
| EV / EBIT | 12.46 | 16.08 | 98.07 | 19.87 | 21.56 | 10.90 | 25.56 | 25.10 | 22.41 | 35.54 | 38.03 |
| EV / FCF | — | 23.48 | 28.41 | 27.27 | 51.99 | 17.01 | 21.55 | 41.41 | 24.57 | 49.62 | 30.31 |
WTW Profitability
Margins and return-on-capital ratios measuring operating efficiency
Willis Towers Watson Public Limited Company earns an operating margin of 23.0%, above the Financial Services sector average of 20.3%. Operating margins have expanded from 14.4% to 23.0% over the past 3 years, signaling improving operational efficiency. ROE of 20.0% indicates solid capital efficiency, compared to the sector median of 9.0%. ROIC of 14.0% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.1% | 42.1% | 44.6% | 43.6% | 42.9% | 41.6% | 40.1% | 41.1% | 39.8% | 39.4% | 38.5% |
| Operating Margin | 23.0% | 23.0% | 6.3% | 14.4% | 13.3% | 24.5% | 10.0% | 12.6% | 9.5% | 6.3% | 4.4% |
| Net Profit Margin | 16.5% | 16.5% | -1.0% | 11.1% | 11.4% | 46.9% | 11.6% | 12.5% | 8.2% | 6.9% | 5.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.0% | 20.0% | -1.1% | 10.7% | 8.6% | 34.8% | 9.4% | 10.2% | 6.9% | 5.6% | 6.7% |
| ROA | 5.6% | 5.6% | -0.3% | 3.5% | 3.0% | 11.5% | 2.7% | 3.1% | 2.1% | 1.8% | 1.7% |
| ROIC | 14.0% | 14.0% | 3.6% | 7.2% | 6.2% | 11.0% | 4.0% | 5.3% | 4.4% | 2.8% | 2.8% |
| ROCE | 14.6% | 14.6% | 4.0% | 8.2% | 6.3% | 11.2% | 4.5% | 5.8% | 4.6% | 3.0% | 3.0% |
WTW Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Willis Towers Watson Public Limited Company carries a Debt/EBITDA ratio of 2.6x, which is moderately leveraged (39% below the sector average of 4.3x). Net debt stands at $3.8B ($6.9B total debt minus $3.1B cash). Interest coverage of 8.7x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.86 | 0.86 | 0.74 | 0.62 | 0.54 | 0.41 | 0.61 | 0.65 | 0.47 | 0.46 | 0.40 |
| Debt / EBITDA | 2.60 | 2.60 | 5.48 | 3.18 | 3.14 | 1.92 | 4.13 | 3.80 | 3.04 | 3.48 | 3.58 |
| Net Debt / Equity | — | 0.47 | 0.50 | 0.47 | 0.42 | 0.08 | 0.43 | 0.57 | 0.37 | 0.36 | 0.31 |
| Net Debt / EBITDA | 1.42 | 1.42 | 3.73 | 2.42 | 2.42 | 0.35 | 2.88 | 3.30 | 2.37 | 2.72 | 2.80 |
| Debt / FCF | — | 2.44 | 3.19 | 4.10 | 6.94 | 0.54 | 3.15 | 7.58 | 3.82 | 7.54 | 4.74 |
| Interest Coverage | 8.68 | 8.68 | 1.40 | 6.44 | 7.05 | 13.76 | 5.14 | 5.47 | 5.09 | 3.62 | 2.86 |
WTW Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.20x means Willis Towers Watson Public Limited Company can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.06x to 1.20x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.20 | 1.20 | 1.20 | 1.06 | 1.07 | 1.26 | 1.05 | 1.06 | 1.07 | 1.07 | 1.03 |
| Quick Ratio | 1.20 | 1.20 | 1.20 | 1.06 | 1.07 | 1.26 | 1.05 | 1.06 | 1.07 | 1.07 | 1.03 |
| Cash Ratio | 0.22 | 0.22 | 0.15 | 0.11 | 0.09 | 0.32 | 0.11 | 0.05 | 0.07 | 0.07 | 0.07 |
| Asset Turnover | — | 0.33 | 0.36 | 0.33 | 0.28 | 0.26 | 0.22 | 0.24 | 0.26 | 0.25 | 0.26 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
WTW Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Willis Towers Watson Public Limited Company returns 8.3% to shareholders annually — split between a 1.4% dividend yield and 6.9% buyback yield. The payout ratio of 22.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 6.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 1.1% | 1.1% | 1.4% | 1.3% | 1.2% | 1.3% | 1.3% | 1.5% | 1.4% | 1.2% |
| Payout Ratio | 22.3% | 22.3% | — | 33.4% | 36.6% | 8.9% | 34.7% | 31.5% | 44.0% | 48.8% | 47.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.4% | 4.9% | — | 4.1% | 3.7% | 6.3% | 3.6% | 4.0% | 3.5% | 2.8% | 1.8% |
| FCF Yield | 6.4% | 4.8% | 4.0% | 4.3% | 2.2% | 6.1% | 5.4% | 3.0% | 4.8% | 2.4% | 3.9% |
| Buyback Yield | 6.9% | 5.1% | 2.8% | 3.9% | 12.9% | 5.3% | 0.0% | 0.6% | 3.0% | 3.5% | 2.3% |
| Total Shareholder Yield | 8.3% | 6.2% | 3.9% | 5.3% | 14.2% | 6.5% | 1.3% | 1.8% | 4.5% | 4.8% | 3.5% |
| Shares Outstanding | — | $99M | $102M | $106M | $112M | $129M | $130M | $130M | $132M | $136M | $138M |
Peer Comparison
Compare WTW with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 WTWYou | $24B | 15.7 | 10.5 | 15.6 | 42.1% | 23.0% | 20.0% | 14.0% | 2.6 |
 MMC | $85B | 21.3 | 16.0 | 21.4 | 42.8% | 23.8% | 31.3% | 15.2% | 3.3 |
 AON | $68B | 18.7 | 15.7 | 21.2 | 47.7% | 25.3% | 46.3% | 13.5% | 3.1 |
 AJG | $55B | 37.2 | 18.4 | 30.8 | 54.8% | 18.3% | 6.9% | 7.0% | 3.8 |
 BRO | $20B | 18.7 | 13.1 | 14.6 | 87.7% | 28.5% | 11.1% | 8.7% | 3.8 |
 HWC | $6B | 12.4 | 9.9 | 11.0 | 73.1% | 31.0% | 11.3% | 8.6% | 2.0 |
 RYAN | $5B | 74.4 | 8.7 | 7.9 | 90.6% | 20.5% | 5.4% | 10.8% | 3.9 |
 ERIE | $10B | 20.8 | 12.4 | 17.9 | 15.8% | 17.7% | 26.2% | 29.5% | — |
 ACGL | $32B | 7.8 | 6.6 | 5.3 | 37.2% | 25.0% | 19.5% | 15.4% | 0.5 |
 MET | $56B | 17.8 | 9.4 | 3.1 | 36.4% | 6.0% | 11.9% | 13.1% | 3.5 |
 PRU | $37B | 10.4 | 8.2 | 5.9 | 42.0% | 7.9% | 10.9% | 10.0% | 4.7 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
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WTW — Frequently Asked Questions
Quick answers to the most common questions about buying WTW stock.
What is Willis Towers Watson Public Limited Company's P/E ratio?
Willis Towers Watson Public Limited Company's current P/E ratio is 15.7x. The historical average is 22.8x. This places it at the 23th percentile of its historical range.
What is Willis Towers Watson Public Limited Company's EV/EBITDA?
Willis Towers Watson Public Limited Company's current EV/EBITDA is 10.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.4x.
What is Willis Towers Watson Public Limited Company's ROE?
Willis Towers Watson Public Limited Company's return on equity (ROE) is 20.0%. The historical average is 14.9%.
Is WTW stock overvalued?
Based on historical data, Willis Towers Watson Public Limited Company is trading at a P/E of 15.7x. This is at the 23th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Willis Towers Watson Public Limited Company's dividend yield?
Willis Towers Watson Public Limited Company's current dividend yield is 1.42% with a payout ratio of 22.3%.
What are Willis Towers Watson Public Limited Company's profit margins?
Willis Towers Watson Public Limited Company has 42.1% gross margin and 23.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Willis Towers Watson Public Limited Company have?
Willis Towers Watson Public Limited Company's Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.