Willis Towers Watson WTW · USD
Financials · Insurance · US listing · 🇺🇸 United States
S&P 500
327.01
-0.56%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue, before interest expense
$9.71bn
FY2016FY2025
Net income
$1.60bn
FY2016FY2025
Total assets
$29.53bn
FY2016FY2025
Shareholders' equity
$7.98bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | $9.71bn | $9.93bn | $9.48bn | $8.87bn | $9.00bn | $8.62bn | $8.37bn | $8.51bn | $8.20bn | $7.89bn |
| Research and development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Operating income | $2.23bn | $627.0m | $1.36bn | $1.47bn | $2.90bn | $859.0m | $1.05bn | $809.0m | $516.0m | $348.0m |
| Net income | $1.60bn | −$98.0m | $1.05bn | $1.01bn | $4.22bn | $996.0m | $1.04bn | $695.0m | $568.0m | $420.0m |
| Diluted earnings per share | 16.55 | -0.96 | 10.14 | 9.26 | 33.78 | 7.66 | 8.03 | 5.31 | 4.27 | 3.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $29.53bn | $27.68bn | $29.09bn | $31.77bn | $34.97bn | $38.53bn | $35.51bn | $32.40bn | $32.46bn | $30.27bn |
| Cash and short-term investments | $3.13bn | $1.89bn | $1.42bn | $1.26bn | $4.69bn | $2.04bn | $887.0m | $1.03bn | $1.03bn | $870.0m |
| Total liabilities | $21.48bn | $19.66bn | $19.50bn | $21.68bn | $21.66bn | $27.60bn | $25.14bn | $22.39bn | $22.18bn | $20.15bn |
| Debt | $6.31bn | $5.32bn | $5.23bn | $4.74bn | $4.61bn | $5.66bn | $5.64bn | $4.60bn | $4.54bn | $3.87bn |
| Shareholders' equity | $7.98bn | $7.94bn | $9.52bn | $10.02bn | $13.26bn | $10.82bn | $10.25bn | $9.85bn | $10.13bn | $9.95bn |
| Shares outstanding | 97m | 102m | 104m | 109m | 125m | 130m | 130m | 131m | 133m | 138m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue, before interest expense | $2.47bn | $2.41bn | $2.94bn | $2.29bn | $2.26bn | $2.22bn | $3.04bn | $2.29bn |
| Operating income | $364.0m | $448.0m | $1.02bn | $418.0m | $368.0m | $432.0m | $901.0m | −$766.0m |
| Net income | $229.0m | $297.0m | $735.0m | $304.0m | $331.0m | $235.0m | $1.25bn | −$1.68bn |
| Diluted earnings per share | 2.44 | 3.16 | 7.58 | 3.13 | 3.41 | 2.42 | 12.22 | -16.42 |
| Total assets | $30.56bn | $29.64bn | $29.53bn | $27.44bn | $28.48bn | $28.06bn | $27.68bn | $27.17bn |
| Cash and short-term investments | $1.63bn | $1.85bn | $3.13bn | $1.93bn | $1.99bn | $1.51bn | $1.89bn | $1.37bn |
| Debt | $6.65bn | $6.42bn | $6.43bn | $5.44bn | $5.43bn | $5.43bn | $5.43bn | $5.43bn |
| Shareholders' equity | $7.69bn | $7.98bn | $7.98bn | $7.74bn | $8.10bn | $8.13bn | $7.94bn | $7.49bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 23.0% | 6.3% | 14.4% | 16.5% | 32.3% | 10.0% | — | — |
| Net margin | 16.5% | -1.0% | 11.1% | 11.4% | 46.9% | 11.6% | — | — |
| Return on equity | 20.1% | -1.2% | 11.1% | 10.1% | 31.8% | 9.2% | — | — |
| Return on assets | 5.4% | -0.4% | 3.6% | 3.2% | 12.1% | 2.6% | — | — |
| Revenue growth | -2.2% | 4.7% | 7.0% | -1.5% | 4.4% | 2.9% | — | — |
| Earnings growth | -1737.8% | -109.3% | 4.6% | -76.1% | 323.9% | -4.6% | — | — |
| Current ratio | 1.20x | 1.20x | 1.06x | 1.07x | 1.26x | 1.05x | — | — |
| Debt to equity | 0.81x | 0.68x | 0.56x | 0.48x | 0.36x | 0.53x | — | — |
| Equity ratio | 27.0% | 28.7% | 32.7% | 31.5% | 37.9% | 28.1% | — | — |
| Interest coverage | 8.59x | 2.38x | 5.81x | 7.05x | 13.76x | 3.52x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 4.9% | 1.9% | 4.6% | 12.8% | 3.8% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.1% | 2.4% | 9.7% |
| Operating income | 15.1% | 21.1% | 18.0% |
| Net income | 16.7% | 10.0% | 15.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 14.6% | 15.0% | 17.0% | 13.6% |
| Net margin | 7.7% | 9.4% | 15.8% | 12.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.9 | -326.0 | 23.8 | 26.4 | 7.0 | 27.5 | 25.1 | 28.6 | 35.3 | 40.2 |
| Price to sales | 3.3 | 3.2 | 2.6 | 3.0 | 3.3 | 3.2 | 3.1 | 2.3 | 2.4 | 2.1 |
Market value over time
31 Oct 2016 to 22 Sept 2026, in USD
$17.37bn$28.36bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 7% | 29% | -0% | 3% | 12% | 1% | 38% | -2% | 24% | -1% |
Dividends and splits
Per share, in the currency the company pays
Paid for 23 years. Last went ex-dividend on 30 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.88 | 3.68 | 3.52 | 3.36 | 3.28 | 3.02 | 2.75 | 2.60 |
- 2.649-to-1 reverse split · 5 Jan 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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