WTW · Willis Towers Watson PLC - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.41B | - | $2.29B | $2.26B | $2.22B | - | $2.29B | $2.27B | $2.34B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | $1.96B | - | $1.87B | $1.89B | $1.79B | - | $3.06B | $2.05B | $2.06B | - |
| D&A | $56.00M | - | - | - | $54.00M | - | - | - | $59.00M | - |
| Operating Income | $448.00M | - | $418.00M | $368.00M | $432.00M | - | ($766.00M) | $212.00M | $280.00M | - |
| Interest Expense | $77.00M | - | $65.00M | $64.00M | $65.00M | - | $65.00M | $68.00M | $64.00M | - |
| Income Tax | $70.00M | - | $77.00M | ($21.00M) | $65.00M | - | ($322.00M) | $26.00M | $48.00M | - |
| Net Income | $297.00M | - | $304.00M | $331.00M | $235.00M | - | ($1.68B) | $141.00M | $190.00M | - |
| EPS - Basic | $3.12 | - | $3.12 | $3.34 | $2.34 | - | ($16.44) | $1.37 | $1.84 | - |
| EPS - Diluted | $3.10 | - | $3.11 | $3.32 | $2.33 | - | ($16.44) | $1.36 | $1.83 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.85B | $3.13B | $1.90B | $1.96B | $1.51B | $1.89B | $1.37B | $1.25B | $1.89B | $1.42B |
| Accounts Receivable | $2.65B | $2.70B | $2.19B | $2.36B | $2.37B | $2.49B | $2.12B | $2.42B | $2.43B | $2.57B |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $16.09B | $16.87B | $14.62B | $15.61B | $15.46B | $15.11B | $14.31B | $14.03B | $14.64B | $13.43B |
| Total Assets | $29.64B | $29.53B | $27.44B | $28.48B | $28.06B | $27.68B | $27.17B | $29.62B | $30.24B | $29.09B |
| Current Liabilities | $13.55B | $14.00B | $13.24B | $13.87B | $13.38B | $12.60B | $12.54B | $12.67B | $13.12B | $12.63B |
| Long-term Debt | $6.30B | $5.76B | $4.76B | $4.76B | $4.76B | $5.31B | $5.31B | $5.31B | $5.31B | $4.57B |
| Total Liabilities | $21.58B | $21.48B | $19.63B | $20.30B | $19.85B | $19.66B | $19.60B | $20.21B | $20.67B | $19.50B |
| Stockholders' Equity | $7.98B | $7.98B | $7.74B | $8.10B | $8.13B | $7.94B | $7.49B | $9.34B | $9.49B | $9.52B |
| Retained Earnings | ($392.00M) | ($296.00M) | ($593.00M) | ($206.00M) | $51.00M | $109.00M | ($650.00M) | $1.31B | $1.46B | $1.47B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($10.00M) | - | - | - | ($35.00M) | - | - | - | $24.00M | - |
| Investing Cash Flow | ($840.00M) | - | - | - | ($84.00M) | - | - | - | ($74.00M) | - |
| Financing Cash Flow | ($203.00M) | - | - | - | $24.00M | - | - | - | $1.56B | - |
| CapEx | $55.00M | - | - | - | $60.00M | - | - | - | - | - |
| Free Cash Flow | ($65.00M) | - | - | - | ($95.00M) | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 18.6% | - | 18.3% | 16.3% | 19.4% | - | -33.5% | 9.4% | 12.0% | - |
| EBITDA margin | 20.9% | - | - | - | 21.9% | - | - | - | 14.5% | - |
| Net margin | 12.3% | - | 13.3% | 14.6% | 10.6% | - | -73.2% | 6.2% | 8.1% | - |
| Free cash flow margin | -2.7% | - | - | - | -4.3% | - | - | - | - | - |
| FCF / Net income | -0.22 | - | - | - | -0.40 | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 19.1% | - | 20.2% | -6.8% | 21.7% | - | - | 15.6% | 20.2% | - |
| Return on assets | 1.0% | - | 1.1% | 1.2% | 0.8% | - | -6.2% | 0.5% | 0.6% | - |
| Return on equity | 3.7% | - | 3.9% | 4.1% | 2.9% | - | -22.4% | 1.5% | 2.0% | - |
| Return on invested capital | 2.5% | - | 2.7% | 2.9% | 2.6% | - | -4.7% | 1.2% | 1.5% | - |
| Liquidity | ||||||||||
| Current ratio | 1.19 | 1.20 | 1.10 | 1.13 | 1.16 | 1.20 | 1.14 | 1.11 | 1.12 | 1.06 |
| Quick ratio | 1.19 | 1.20 | 1.10 | 1.13 | 1.16 | 1.20 | 1.14 | 1.11 | 1.12 | 1.06 |
| Cash ratio | 0.14 | 0.22 | 0.14 | 0.14 | 0.11 | 0.15 | 0.11 | 0.10 | 0.14 | 0.11 |
| Leverage | ||||||||||
| Debt / Equity | 0.79 | 0.72 | 0.62 | 0.59 | 0.59 | 0.67 | 0.71 | 0.57 | 0.56 | 0.48 |
| Debt / Assets | 0.21 | 0.19 | 0.17 | 0.17 | 0.17 | 0.19 | 0.20 | 0.18 | 0.18 | 0.16 |
| Debt / EBITDA | 12.51 | - | - | - | 9.80 | - | - | - | 15.65 | - |
| Interest coverage | 5.8x | - | 6.4x | 5.8x | 6.6x | - | -11.8x | 3.1x | 4.4x | - |
| Equity multiplier | 3.72 | 3.70 | 3.55 | 3.52 | 3.45 | 3.49 | 3.63 | 3.17 | 3.19 | 3.06 |
| Liabilities / Assets | 0.73 | 0.73 | 0.72 | 0.71 | 0.71 | 0.71 | 0.72 | 0.68 | 0.68 | 0.67 |
| Efficiency | ||||||||||
| Asset turnover | 0.08 | - | 0.08 | 0.08 | 0.08 | - | 0.08 | 0.08 | 0.08 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 401d | - | 349d | 382d | 388d | - | 338d | 391d | 379d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 93.8x | - | 111.1x | 92.3x | 145.0x | - | - | 192.8x | 150.3x | - |
| P / B | 3.5x | - | 4.4x | 3.8x | 4.2x | - | 4.0x | 2.9x | 3.0x | - |
| P / S | 11.6x | - | 14.8x | 13.6x | 15.4x | - | 13.1x | 11.9x | 12.2x | - |
| EV / EBITDA | 64.2x | - | - | - | 76.9x | - | - | - | 94.4x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 8.5% | - | -0.0% | -0.2% | -5.0% | - | 5.7% | 4.9% | 4.3% | - |
| Revenue CAGR (3y) | 2.4% | - | 5.4% | 3.6% | 1.0% | - | 5.1% | -0.3% | -3.3% | - |
| Revenue CAGR (5y) | -1.4% | - | 2.6% | 1.4% | -2.1% | - | 2.8% | 2.0% | 0.2% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 3.7% | - | - | 73.6% | 54.3% | - | - | 49.3% | -1.8% | - |
| Net income growth (YoY) | 26.4% | - | - | 134.8% | 23.7% | - | - | 50.0% | -6.4% | - |
| EPS growth (YoY) | 33.0% | - | - | 144.1% | 27.3% | - | - | 54.5% | -2.7% | - |
| EPS CAGR (3y) | 18.1% | - | 21.8% | 50.7% | 31.3% | - | - | -1.2% | -31.2% | - |
| EPS CAGR (5y) | -11.2% | - | 27.3% | 35.8% | -0.1% | - | - | 5.1% | -3.6% | - |
| FCF growth (YoY) | 31.6% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -1.9% | 0.5% | 3.2% | -13.2% | -14.3% | -16.6% | -20.4% | -4.7% | -6.0% | -5.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$9.71B totalHealth Wealth And Career$5.33B · 54.9%
Risk And Broking$4.35B · 44.8%
Corporate$34.00M · 0.4%
Product / service
$10.43B totalService$5.22B · 50.0%
Consulting$2.85B · 27.3%
Outsourced Administration$1.10B · 10.5%
Broking$882.00M · 8.5%
Product And Service Other$390.00M · 3.7%
Geographic
$19.27B totalForeign Countries$9.56B · 49.6%
US$4.50B · 23.4%
Rest Of World$3.00B · 15.5%
GB$2.06B · 10.7%
IE$143.00M · 0.7%
Peer comparison
Same SIC group: Insurance Agents, Brokers & Service
Comparing WILLIS TOWERS WATSON PLC against the 5 most active filers in the same SIC group.
Dividends
$3.72/share trailing 12 months · +4.5% YoY
| Ex-date | Per share |
|---|---|
| Mar 31, 2026 | $0.9600 |
| Dec 31, 2025 | $0.9200 |
| Sep 30, 2025 | $0.9200 |
| Jun 30, 2025 | $0.9200 |
| Mar 31, 2025 | $0.9200 |
| Dec 31, 2024 | $0.8800 |
| Sep 30, 2024 | $0.8800 |
| Jun 28, 2024 | $0.8800 |
| Mar 27, 2024 | $0.8800 |
| Dec 28, 2023 | $0.8400 |
| Sep 28, 2023 | $0.8400 |
| Jun 29, 2023 | $0.8400 |
| Mar 30, 2023 | $0.8400 |
| Dec 29, 2022 | $0.8200 |
| Sep 29, 2022 | $0.8200 |
| Jun 29, 2022 | $0.8200 |
| Mar 30, 2022 | $0.8200 |
| Dec 30, 2021 | $0.8000 |
| Sep 29, 2021 | $0.8000 |
| May 27, 2021 | $0.7100 |
| Mar 30, 2021 | $0.7100 |
| Dec 30, 2020 | $0.7100 |
| Sep 29, 2020 | $0.6800 |
| Jun 29, 2020 | $0.6800 |