Willis Towers Watson
WTW Nasdaq· Insurance Brokers
Last close · Oct 26, 2026
$324.67
KIRA · Stoqly’s AI analyst, in plain words
- Willis Towers Watson had $9.7B of revenue in fiscal 2025, down 2.2% on the year before. Over five years, revenue changed +2.4% a year on average.
- Its operating margin was 23.0%, up 16.7 pts: of every 100 in sales, about 23 is left after running the business.
- Willis Towers Watson made $1.6B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 20.5% a year.
- Free cash flow was $1.5B in fiscal 2025, 15.9% of revenue.
- Willis Towers Watson returned $2.0B to shareholders in fiscal 2025, 130% of free cash flow. The diluted share count fell 2.9%.
- Willis Towers Watson owes $6.5B more than it holds in cash, about 2.5 years of operating profit.
Market cap
$30.5B
P/E
20.1x
Revenue
$9.7B
Net income
$1.6B
Free cash flow
$1.5B
Operating margin
23.0%
Willis Towers Watson in 30 seconds · fiscal 2025
Are sales growing?
−2.2%
No. Sales fell 2.2% last year.
Does it make a profit?
16.5%
Yes. It keeps 16.5% of every sale as profit.
Does profit turn into cash?
15.9%
Yes. 15.9% of sales ends up as free cash.
Is debt under control?
2.5x
Keep an eye on it. Repaying its debt would take 2.5 years of operating profit.
How healthy are the accounts?
7 / 8
Solid. It passes 7 of 8 health tests.
How is the share priced?
20.1x
One share costs 20.1 times its yearly profit per share. Typical for its sector: 13.7x.
What Willis Towers Watson does
WTW (Willis Towers Watson) is an advisory and insurance broking firm that helps companies manage people, risk and capital. It has about 47,000 employees, which it calls colleagues, serving clients in more than 140 countries and markets. Its clients range from large multinationals to mid-sized companies, government agencies and not-for-profit groups, and no single client was more than 10% of revenue. It reports two segments. Health, Wealth & Career, its larger segment by revenue, gives advice, broking and technology for employee benefit plans, investors, pay and career programs and the employee experience, including a private Medicare marketplace in the U.S. Risk & Broking helps clients assess and control risk and acts as an insurance broker: it is the go-between for clients and insurance companies, advising on risk and placing coverage with carriers through its global network. WTW says it is not an insurance company and does not take on insurance risk for its own account.
Biggest risks, in its own words
- Its results depend on a strategy that may not work as planned, and on whether demand for its services holds up.
- Heavy dependence on the insurance industry, and on good relations with insurance companies.
- Losing key employees, which could also cost it client relationships.
- Data breaches or improper release of confidential company or personal data.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 25, 2026
- Legal name
- WILLIS TOWERS WATSON PLC
- CIK
- 0001140536
Willis Towers Watson · WTW
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $9.0B | $8.9B | $9.5B | $9.9B | $9.7B |
| Revenue growth | 4.5% | −1.5% | 7.0% | 4.7% | −2.2% |
| Operating margin | 24.5% | 13.3% | 14.4% | 6.3% | 23.0% |
| Net income | $4.2B | $1.0B | $1.1B | −$98.0M | $1.6B |
| Net margin | 46.9% | 11.4% | 11.1% | −1.0% | 16.5% |
| Diluted EPS | $32.78 | $8.98 | $9.95 | −$0.96 | $16.26 |
| Cash | |||||
| Cash from operations | $2.1B | $812M | $1.3B | $1.5B | $1.8B |
| Capital expenditure | $53.0M | $66.0M | $242M | $245M | $229M |
| Free cash flow | $2.0B | $746M | $1.1B | $1.3B | $1.5B |
| FCF margin | 22.3% | 8.4% | 11.6% | 12.8% | 15.9% |
| Dividends paid | $374M | $369M | $352M | $354M | $358M |
| Share buybacks | $1.6B | $3.5B | $1.0B | $901M | $1.7B |
| Share count change | −0.8% | −13.2% | −5.4% | −3.8% | −2.9% |
| Debt and strength | |||||
| Cash and short-term investments | $4.7B | $1.3B | $1.4B | $1.9B | $3.2B |
| Debt incl. finance leases | $6.7B | $6.8B | $7.4B | $8.6B | $9.7B |
| Shareholders' equity | $13.3B | $10.0B | $9.5B | $7.9B | $8.0B |
| Net debt / EBITDA | 0.7x | 3.2x | 3.2x | 6.2x | 2.5x |
| Current ratio | 1.3x | 1.1x | 1.1x | 1.2x | 1.2x |
| Interest coverage | 10.4x | 5.7x | 5.8x | 2.4x | 8.6x |
| Returns and quality | |||||
| Return on capital | 11.0% | 6.5% | 7.3% | 2.1% | 12.8% |
| Return on equity | 35.1% | 8.7% | 10.8% | −1.1% | 20.2% |
| Piotroski F-score | 6 | 4 | 6 | 5 | 7 |
| Altman Z'' | 2.2 | 1.1 | 1.2 | 1.2 | 1.5 |
Insiders bought, 12 months
$2.1M
3 insiders
Insiders sold, 12 months
$1.2M
2 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Willis Towers Watson · WTW
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Willis Towers Watson WTW | $30.5B | −2.2% | 23.0% | 15.9% | 12.8% | 20.1x | 7 |
| Arthur J. Gallagher AJG | $68.5B | 20.7% | — | 12.8% | 9.9% | 44.2x | 3 |
| Brown & Brown BRO | $23.7B | 22.8% | — | 23.4% | 9.1% | 22.4x | 4 |
| Aon AON | $64.6B | 9.5% | 25.3% | 18.7% | 15.6% | 16.7x | 4 |
| Erie Indemnity ERIE | — | 7.2% | 17.6% | 14.0% | 31.8% | — | — |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $324.67 a share, the company is worth $30.5B: 20.1 times its earnings of the last four quarters.
Willis Towers Watson grew sales faster than 0 of its 4 similar companies. Its P/E is higher than 1 of 3.
Source: SEC EDGAR XBRL filings (CIK 0001140536). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.