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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%
Market cap
$28.8B
P/E
19.3×
Fwd P/E
15.3×
Dividend yield
1.21%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 2.07
Total sells 1.16
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — 2 — — 2 — — — — —
Sell — — — — 1 — — — — 1 — —
Insider Ownership 1.64%

Capital & Financial Ratios $m

Market Cap 28,820.00
Revenue 10,102.00
Net Income 1,576.00
Free Cash Flow 1,689.00
Net Debt 4,903.00
Current Ratio 1.68
Debt/Equity 0.84
P/E ratio 19.31
Fwd P/E 15.30
P/S ratio 2.93
P/B ratio 3.81
Past 5Y EPS Growth 16.28% (at or above 15%: strong)
This Y EPS Growth 15.93% (at or above 15%: strong)
Next Y EPS Growth 15.69% (at or above 15%: strong)
Next Y revenue growth 7.85%
Next 5Y EPS Growth 16.91% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 22.40%
10-year low 10-year high
P/S against its own 10 years 55.22%
10-year low 10-year high
P/B against its own 10 years 88.65%
10-year low 10-year high

Dividends

Payout Ratio 0.23
Annual Dividend Rate 3.80
Annual Dividend Yield 1.21%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 3.79
0.96
0.96
0.96
2025 3.68
0.92
0.92
0.92
0.92
2024 3.52
0.88
0.88
0.88
0.88
2023 3.36
0.84
0.84
0.84
0.84
2022 3.28
0.82
0.82
0.82
0.82
2021 3.55
0.71
0.71
0.53
0.80
0.80
2020 2.75
0.68
0.68
0.68
0.71
2019 2.60
0.65
0.65
0.65
0.65
2018 2.40
0.60
0.60
0.60
0.60
2017 2.12
0.53
0.53
0.53
0.53
2016 1.92
0.48
0.48
0.48
0.48
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,424 1,890 3,132 1,627
Receivables 2,572 2,494 2,702 2,603
Inventory — — — —
Other — — — —
3,996 4,384 5,834 4,230
2023 2024 2025 Q'26
Payables — — — —
ST’ Debt 650 — 550 749
Other — — — —
2,754 2,211 2,637 2,515

Compound Annual Growth %

10y 5y 3y
Sales 9.75% 2.42% 3.07%
Cash Flow 21.95% 0.01% 29.78%
Earnings 15.71% 10.01% 16.73%
Book Value 13.06% (5.93%) (7.25%)

Revenue $m

Mar Jun Sep Dec Year
’26 2,412 2,466 — — —
’25 2,223 2,261 2,288 2,936 9,708
’24 2,341 2,265 2,289 3,035 9,930
’23 2,244 2,159 2,166 2,914 9,483
’22 2,160 2,031 1,953 2,722 8,866
’21 2,228 2,091 1,973 2,706 8,998
’20 2,466 2,113 1,897 2,139 8,615
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (10) 484 — — —
’25 (35) 361 678 771 1,775
’24 24 407 482 599 1,512
’23 134 296 393 522 1,345
’22 21 237 179 375 812
’21 (128) 494 1,511 184 2,061
’20 23 662 521 568 1,774
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (866) 434 — — —
’25 (88) 304 621 693 1,531
’24 (36) 341 419 439 1,163
’23 73 236 332 456 1,097
’22 (25) 190 122 321 608
’21 (179) 439 1,468 132 1,860
’20 (58) 575 457 514 1,488
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 3.10 2.43 — — —
’25 2.33 3.32 3.11 7.62 16.26
’24 1.83 1.36 (16.44) 12.25 (0.96)
’23 1.88 0.88 1.29 5.97 9.95
’22 1.03 0.97 1.72 5.40 8.98
’21 5.63 1.41 6.99 19.19 32.78
’20 2.34 0.72 0.93 3.66 7.65
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 104.11 120.87 134.50 146.35 143.34 197.63 187.89 195.29 237.50 292.97

Analyst estimates 2026–2028

Powerpack
High 133.40 165.00 164.99 206.29 220.97 271.87 252.99 258.93 334.99 352.79
People
People Employees 41,000 43,000 43,000 45,000 46,100 44,200 46,600 48,000 48,900 46,900
Revenue/emp, $m 0.19 0.19 0.20 0.19 0.19 0.20 0.19 0.20 0.20 0.21
Income, $m
Income, $m Revenue 7,887 8,202 8,513 8,370 8,615 8,998 8,866 9,483 9,930 9,708
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
EBT 342 492 851 1,046 1,011 2,692 1,258 1,276 102 1,953
EBT margin, % 4.34 6.00 10.00 12.50 11.74 29.92 14.19 13.46 1.03 20.12
Net income 438 592 715 1,073 1,020 4,236 1,024 1,064 (88) 1,613
Depreciation 769 833 747 729 770 650 567 505 456 418
Per share, $
Per share, $ Revenue 57.57 60.76 64.98 64.38 66.27 70.30 79.16 90.31 97.35 99.06
Earnings 3.20 4.21 5.29 8.05 7.68 32.88 9.00 10.01 (0.96) 16.34
Cash flow 6.81 6.39 9.83 8.32 13.65 16.10 7.25 12.81 14.82 18.11
Capex (2.22) (2.36) (2.46) (2.35) (2.20) (1.57) (1.82) (2.36) (3.42) (2.49)
Free cash flow 4.59 4.03 7.37 5.97 11.45 14.53 5.43 10.45 11.40 15.62
Book value 74.33 75.92 76.11 79.76 84.09 103.97 90.12 91.36 78.60 82.16
Shares, m 137 135 131 130 130 128 112 105 102 98
Valuation, ×
Valuation, × P/E 39.63 35.08 28.60 25.09 27.40 7.13 26.82 23.78 0.00 19.96
P/S 2.14 2.42 2.34 3.14 3.18 3.38 3.10 2.66 3.22 3.32
P/B 1.66 1.94 2.00 2.53 2.51 2.28 2.72 2.63 3.99 4.00
EV/Sales 2.52 2.85 2.75 3.70 3.60 3.39 3.49 3.06 3.63 3.64
EV/FCF 32.06 43.64 24.49 40.39 20.95 16.48 51.62 26.50 31.19 24.91
Cash, $m
Cash, $m Operating cash flow 933 862 1,288 1,081 1,774 2,061 812 1,345 1,512 1,775
Capex (304) (318) (322) (305) (286) (201) (204) (248) (349) (244)
Free cash flow 629 544 966 776 1,488 1,860 608 1,097 1,163 1,531
Balance, $m
Balance, $m Working capital 961 1,480 1,579 1,408 1,378 4,317 1,484 1,242 2,173 3,197
Total debt 3,865 4,535 4,575 5,617 5,635 4,587 4,721 5,217 5,309 6,306
Net debt 2,995 3,505 3,542 4,730 3,596 101 3,459 3,793 3,419 3,174
Shareholders’ equity 10,183 10,249 9,971 10,369 10,932 13,308 10,093 9,593 8,017 8,052
Returns, %
Returns, % ROA 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
ROE 6.70 5.56 6.87 10.27 9.35 34.83 8.62 10.72 (1.11) 19.98
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Willis Towers Watson Public Limited Company vs peers in Insurance Brokers (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MRSH Marsh $89.0B 22.4× 19.2× +8.06% (above 0%: growing) +12.23% (above 0%: growing) −9.99% (below 0%: shrinking) 100.00% 17.70% Compare
AJG Arthur J. Gallagher & Co. $64.1B 41.6× 23.0× +24.24% (above 0%: growing) −11.89% (below 0%: shrinking) +91.16% (above 0%: growing) 41.79% 14.54% Compare
AON Aon plc $60.8B 16.0× 21.1× +2.19% (above 0%: growing) −3.73% (below 0%: shrinking) −34.02% (below 0%: shrinking) 46.51% 21.55% Compare
WTW Willis Towers Watson Public Limited Company $28.8B 19.3× 15.3× +9.07% (above 0%: growing) −27.25% (below 0%: shrinking) +42.76% (above 0%: growing) 100.00% 14.76%
BRO Brown & Brown, Inc. $22.8B 19.3× 17.6× +30.43% (above 0%: growing) +8.86% (above 0%: growing) +6.75% (above 0%: growing) 50.00% 28.82% Compare
ERIE Erie Indemnity Company $11.1B 19.7× 18.0× +2.80% (above 0%: growing) +3.20% (above 0%: growing) +10.22% (above 0%: growing) 18.73% 18.73% Compare
BWIN Baldwin Insurance Group, Inc. $4.5B — (loss-making) — (loss-making) +30.13% (above 0%: growing) n/m +208.10% (above 0%: growing) 31.81% (1.69%) Compare
ARX Accelerant Holdings $4.3B — (loss-making) 143× +62.89% (above 0%: growing) +620.00% (above 0%: growing) −139.56% (below 0%: shrinking) 100.00% 30.96% Compare
CRVL CorVel Corp. $4.1B 35.4× — +10.74% (above 0%: growing) +18.87% (above 0%: growing) +8.94% (above 0%: growing) 26.08% 16.67% Compare
Median of peers $16.9B 21.0× 20.2× +17.49% +8.86% +7.84% 44.15% 18.21%

All 22 Insurance Brokers stocks →

WTW metrics, ten years each

Willis Towers Watson Public Limited Company (WTW) key facts

  • Concern: 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.
  • Willis Towers Watson Public Limited Company (WTW) is an Insurance Brokers company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, WTW traded at $315.26, a market capitalization of $28.8 billion.
  • Willis Towers Watson Public Limited Company pays an annual dividend of $3.80 per share, a yield of 1.21%, with a payout ratio of 23.4%.
  • Return on equity was 20.0% and debt-to-equity 0.84.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Willis Towers Watson Public Limited Company (WTW) Latest News

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stockrow.com/WTW · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com