Saturday 17 October 2026
Export WTW’s income statement to Excel — free account
Willis Towers Watson Public Limited Company
WTW Financial Insurance Brokers
Willis Towers Watson Public Limited Company’s revenue for fiscal 2025 (year ended December 2025) was $9.7 billion, down 2.24% from fiscal 2024. In the quarter to June 2026, revenue grew 9.07%, EPS fell 27.3%, free cash flow grew 42.8% and total debt rose 23.0%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
315.26
4.90
+1.58%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
39.63 | 35.08 | 28.60 | 25.09 | 27.40 | 7.13 | 26.82 | 23.78 | 0.00 | 19.96 |
Piotroski F-Score |
5 | 6 | 8 | 5 | 5 | 7 | 4 | 6 | 5 | 6 |
P/S ratio |
2.14 | 2.42 | 2.34 | 3.14 | 3.18 | 3.38 | 3.10 | 2.66 | 3.22 | 3.32 |
P/FCF ratio |
27.23 | 37.09 | 20.79 | 34.23 | 18.52 | 16.42 | 45.84 | 23.03 | 27.66 | 22.68 |
P/Operating CF |
54.12 | 57.19 | 34.78 | 56.95 | 48.22 | 165.21 | 73.23 | 48.27 | 53.34 | 41.77 |
P/B ratio |
1.66 | 1.94 | 2.00 | 2.53 | 2.51 | 2.28 | 2.72 | 2.63 | 3.99 | 4.00 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 53.33 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
2.52 | 2.85 | 2.75 | 3.70 | 3.60 | 3.39 | 3.49 | 3.06 | 3.63 | 3.64 |
EV/EBITDA |
17.80 | 17.31 | 15.06 | 17.38 | 19.02 | 10.69 | 17.72 | 15.50 | 33.26 | 13.34 |
EV/Operating CF |
21.31 | 27.09 | 18.20 | 28.66 | 17.47 | 14.80 | 38.08 | 21.55 | 23.82 | 19.93 |
EV/FCF |
32.06 | 43.64 | 24.49 | 40.39 | 20.95 | 16.48 | 51.62 | 26.50 | 31.19 | 24.91 |
Quick Ratio |
1.48 | 1.82 | 1.86 | 1.67 | 1.45 | 2.70 | 1.69 | 1.45 | 1.98 | 2.21 |
Current Ratio |
1.48 | 1.82 | 1.86 | 1.67 | 1.45 | 2.70 | 1.69 | 1.45 | 1.98 | 2.21 |
Net Debt/EBITDA |
2.68 | 2.60 | 2.28 | 2.65 | 2.21 | 0.04 | 1.98 | 2.03 | 3.16 | 1.20 |
Debt/Assets |
12.78% | 13.97% | 14.13% | 15.86% | 14.62% | 13.12% | 14.86% | 17.93% | 19.18% | 21.35% |
Debt/Equity |
0.38 | 0.44 | 0.46 | 0.54 | 0.52 | 0.34 | 0.47 | 0.54 | 0.66 | 0.78 |
Asset Turnover |
0.32 | 0.26 | 0.26 | 0.25 | 0.23 | 0.24 | 0.27 | 0.31 | 0.35 | 0.34 |
Operating CF/Net income |
2.22 | 1.52 | 1.85 | 1.04 | 1.78 | 0.49 | 0.80 | 1.27 | (15.43) | 1.11 |
Capex/Depreciation |
(0.40) | (0.38) | (0.43) | (0.42) | (0.37) | (0.31) | (0.36) | (0.49) | (0.77) | (0.58) |
Interest Coverage |
1.89 | 2.74 | 3.89 | 4.50 | 3.52 | 10.44 | 5.66 | 5.81 | 2.38 | 8.59 |
| 6.70% | 5.56% | 6.87% | 10.27% | 9.35% | 34.83% | 8.62% | 10.72% | (1.11%) | 19.98% | |
| 1.71% | 1.81% | 2.14% | 3.08% | 2.69% | 11.49% | 3.02% | 3.47% | (0.35%) | 5.61% | |
ROIC |
1.65% | 2.34% | 3.74% | 4.36% | 3.70% | 10.26% | 5.43% | 6.37% | 3.43% | 12.44% |
Return on Tangible Assets |
23.33% | 23.04% | 27.57% | 42.54% | 41.66% | 81.70% | 45.82% | 53.77% | (3.46%) | 41.24% |
Average Days of Receivables |
96.26 | 99.95 | 102.00 | 114.30 | 102.02 | 96.14 | 98.27 | 99.00 | 91.67 | 101.59 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
61.48% | 60.56% | 60.18% | 58.89% | 59.86% | 58.38% | 57.13% | 56.35% | 55.41% | 57.94% |
Intangible Assets out of Total Assets |
0.49 | 0.44 | 0.43 | 0.41 | 0.35 | 0.36 | 0.39 | 0.42 | 0.36 | 0.34 |
Share Based Compensation of Revenue |
1.56% | 0.82% | 0.59% | 0.88% | 1.04% | 1.12% | 1.12% | 1.32% | 1.22% | 1.58% |
Graham Net Nets |
(1.01) | (0.95) | (0.96) | (0.82) | (0.85) | (0.49) | (0.66) | (0.62) | (0.48) | (0.49) |
Graham Number |
72.12 | 84.60 | 95.36 | 120.19 | 120.62 | 279.10 | 136.13 | 144.02 | 0.00 | 174.44 |
Earnings Yield |
2.52% | 2.85% | 3.50% | 3.99% | 3.65% | 14.02% | 3.73% | 4.21% | (0.29%) | 5.01% |
Free Cash Flow Yield |
3.67% | 2.70% | 4.81% | 2.92% | 5.40% | 6.09% | 2.18% | 4.34% | 3.61% | 4.41% |
Revenue per Share |
57.57 | 60.76 | 64.98 | 64.38 | 66.27 | 70.30 | 79.16 | 90.31 | 97.35 | 99.06 |
Operating CF per Share |
6.81 | 6.39 | 9.83 | 8.32 | 13.65 | 16.10 | 7.25 | 12.81 | 14.82 | 18.11 |
Capex per Share |
(2.22) | (2.36) | (2.46) | (2.35) | (2.20) | (1.57) | (1.82) | (2.36) | (3.42) | (2.49) |
Free Cash Flow per Share |
4.59 | 4.03 | 7.37 | 5.97 | 11.45 | 14.53 | 5.43 | 10.45 | 11.40 | 15.62 |
Cash per Share |
6.35 | 7.63 | 7.89 | 6.82 | 15.68 | 35.05 | 11.27 | 13.56 | 18.53 | 31.96 |
Shareholders Equity per Share |
74.33 | 75.92 | 76.11 | 79.76 | 84.09 | 103.97 | 90.12 | 91.36 | 78.60 | 82.16 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
74.33 | 75.92 | 76.11 | 79.76 | 84.09 | 103.97 | 90.12 | 91.36 | 78.60 | 82.16 |
Free Cash Flow |
629.00 | 544.00 | 966.00 | 776.00 | 1,488.00 | 1,860.00 | 608.00 | 1,097.00 | 1,163.00 | 1,531.00 |
Working Capital |
961.00 | 1,480.00 | 1,579.00 | 1,408.00 | 1,378.00 | 4,317.00 | 1,484.00 | 1,242.00 | 2,173.00 | 3,197.00 |
Capital Expenditures |
(304.00) | (318.00) | (322.00) | (305.00) | (286.00) | (201.00) | (204.00) | (248.00) | (349.00) | (244.00) |
Net Current Asset Value |
(17,120.00) | (18,933.00) | (19,002.00) | (21,549.00) | (23,152.00) | (14,806.00) | (18,027.00) | (15,501.00) | (15,280.00) | (15,644.00) |
EV/EBIT |
57.12 | 45.25 | 28.97 | 29.39 | 36.07 | 13.85 | 26.25 | 21.24 | 57.45 | 15.84 |
Capex to Sales |
0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.02 | 0.02 | 0.03 | 0.04 | 0.03 |
Price to Operating Income |
48.52 | 38.46 | 24.59 | 24.91 | 31.88 | 13.81 | 23.31 | 18.46 | 50.96 | 14.41 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.92 | 0.85 | 0.79 | 0.70 | 0.76 | 0.76 | 0.79 | 0.70 | 0.69 | 0.60 |
Cash ROIC |
4.22% | 3.44% | 6.20% | 4.60% | 8.00% | 8.31% | 3.78% | 6.76% | 7.64% | 8.75% |
Accounts Receivable Turnover |
4.73 | 3.79 | 3.68 | 3.35 | 3.43 | 3.77 | 3.73 | 3.82 | 3.92 | 3.74 |
Average Receivables |
1,669.00 | 2,163.00 | 2,312.50 | 2,500.00 | 2,514.50 | 2,389.00 | 2,378.50 | 2,479.50 | 2,533.00 | 2,598.00 |
Average Assets |
24,546.00 | 31,355.50 | 32,421.50 | 33,905.50 | 36,978.50 | 36,750.50 | 33,369.50 | 30,429.50 | 28,385.50 | 28,605.50 |
Average Common Equity |
6,271.50 | 10,216.00 | 10,110.00 | 10,170.00 | 10,650.50 | 12,120.00 | 11,700.50 | 9,843.00 | 8,805.00 | 8,034.50 |
Columns are period end dates