Willis Towers Watson Public Limited Company (WTW) reported $10.27B of revenue for the twelve months ended Sep 30, 2026. That is up 4.8% from the year before. Revenue for fiscal 2025 was $9.71B.

Yes. Willis Towers Watson Public Limited Company earned $1.56B in net income for the twelve months ended Sep 30, 2026, a net margin of 15.2%.

How much cash and debt does WTW have?

Willis Towers Watson Public Limited Company reported $1.95B in cash and cash equivalents and $6.53B of debt on its most recent balance sheet in SEC filings.

How fast is WTW revenue growing?

Willis Towers Watson Public Limited Company's revenue changed -2.2% in fiscal 2025, to $9.71B. Its compound annual growth rate was +2.4% over 5 years and +9.7% over 10 years.

What is WTW free cash flow?

Willis Towers Watson Public Limited Company generated $1.74B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.98B less capital expenditures.

What is WTW earnings per share?

Diluted earnings per share were $16.27 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did WTW last report financial results?

The latest statements here come from Willis Towers Watson Public Limited Company's 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.

Financials · WTW

Willis Towers Watson Public Limited Company (WTW) financials

For the twelve months ended Sep 30, 2026, Willis Towers Watson Public Limited Company reported $10.27B of revenue and $1.56B of net income.

Revenue, TTM: $10.27B
Revenue growth, YoY: +4.8%
Net income, TTM: $1.56B
Net income growth, YoY: -26.1%
Net margin: 15.2%
Free cash flow, TTM: $1.74B
EPS, diluted, TTM: $16.27
EPS growth, YoY: -22.7%
Cash: $1.95B
Total debt: $6.53B
P/E: 19.84
P/S: 3.02
Market cap: $31.03B

Annual revenue$9.71B

FY2016FY2025

Annual net income$1.60B

FY2016FY2025

Annual free cash flow$1.55B

FY2016FY2025

WTW revenue and earnings growth

WTW revenueQ3 2026$2.46B

Quarter YoY: +7.5%
QoQ: -0.2%
FY YoY: -2.2%
5Y CAGR: +2.4%
10Y CAGR: +9.7%

WTW revenue was $2.46B in fiscal Q3 2026 (ended Sep 30, 2026), up 7.5% from a year earlier and down 0.2% from the prior quarter. For the full fiscal 2025 it was $9.71B, down 2.2% from fiscal 2024. Compound annual growth was +2.4% over 5 years and +9.7% over 10 years. It rose in 7 of the last 10 fiscal years.

WTW net incomeQ3 2026$303.00M

Quarter YoY: -0.3%
QoQ: +32.3%
5Y CAGR: +10.0%
10Y CAGR: +15.7%

WTW net income was $303.00M in fiscal Q3 2026 (ended Sep 30, 2026), down 0.3% from a year earlier and up 32.3% from the prior quarter. For the full fiscal 2025 it was $1.60B, compared with -$98.00M in fiscal 2024. Compound annual growth was +10.0% over 5 years and +15.7% over 10 years.

WTW EPSQ3 2026$3.24

Quarter YoY: +4.2%
QoQ: +33.3%
5Y CAGR: +16.3%

WTW diluted EPS was $3.24 in fiscal Q3 2026 (ended Sep 30, 2026), up 4.2% from a year earlier and up 33.3% from the prior quarter. For the full fiscal 2025 it was $16.26, compared with -$0.96 in fiscal 2024. Compound annual growth was +16.3% over 5 years.

WTW free cash flowQ3 2026$675.00M

Quarter YoY: +8.7%
QoQ: +58.8%
FY YoY: +22.0%
10Y CAGR: +31.8%

WTW free cash flow was $675.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 8.7% from a year earlier and up 58.8% from the prior quarter. For the full fiscal 2025 it was $1.55B, up 22.0% from fiscal 2024. Compound annual growth was +31.8% over 10 years. Fiscal 2025 is the highest of the 11 fiscal years on file.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	$9.71B	$9.93B	$9.48B	$8.87B	$9.00B	$8.62B	$8.37B	$8.51B	$8.20B	$7.89B
Operating income	$2.23B	$627.00M	$1.36B	$1.18B	$2.20B	$859.00M	$1.05B	$809.00M	$516.00M	$348.00M
Interest expense	$260.00M	$263.00M	$235.00M	$208.00M	$211.00M	$244.00M	$234.00M	$208.00M	$188.00M	$184.00M
Pre-tax income	$1.95B	$102.00M	$1.28B	$1.26B	$2.69B	$1.01B	$1.05B	$851.00M	$492.00M	$342.00M
Income tax	$318.00M	$192.00M	$215.00M	$194.00M	$536.00M	$249.00M	$197.00M	$136.00M	-$100.00M	-$96.00M
Net income	$1.60B	-$98.00M	$1.05B	$1.01B	$4.22B	$996.00M	$1.04B	$695.00M	$568.00M	$420.00M
EPS, basic	$16.34	-$0.96	$10.01	$9.00	$32.88	$7.68	$8.05	$5.29	$4.21	$3.07
EPS, diluted	$16.26	-$0.96	$9.95	$8.98	$32.78	$7.65	$8.02	$5.27	$4.18	$3.04
Diluted shares	99.0M	102.0M	106.0M	112.0M	129.0M	130.0M	130.0M	132.0M	136.0M	138.0M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$3.13B	$5.00B	$1.42B	$4.72B	$7.69B	$6.30B	$4.18B	$4.26B	$1.03B	$870.00M
Short-term investments	$25.00M	$0	-	$0	$200.00M	-	-	-	-	-
Receivables	$2.70B	$2.49B	$2.57B	$2.39B	$2.37B	$2.41B	$2.62B	$2.38B	$2.25B	$2.08B
Current assets	$16.87B	$15.11B	$13.43B	$15.84B	$18.49B	$20.30B	$17.04B	$16.42B	$15.86B	$13.79B
Goodwill	$8.94B	$8.80B	$10.20B	$10.17B	$10.18B	$10.39B	$10.38B	$10.46B	$10.52B	$10.41B
Total assets	$29.53B	$27.68B	$29.09B	$31.77B	$34.97B	$38.53B	$35.43B	$32.38B	$32.46B	$30.25B
Current liabilities	$14.00B	$12.60B	$12.63B	$14.78B	$14.72B	$19.33B	$16.07B	$15.30B	$14.76B	$13.37B
Short-term debt	$550.00M	$0	$650.00M	$250.00M	$613.00M	$971.00M	$316.00M	$186.00M	$85.00M	$508.00M
Long-term debt	$5.76B	$5.31B	$4.57B	$4.47B	$3.97B	$4.66B	$5.30B	$4.39B	$4.45B	$3.36B
Total debt	$6.31B	$5.31B	$5.22B	$4.72B	$4.59B	$5.63B	$5.62B	$4.58B	$4.54B	$3.87B
Total liabilities	$21.48B	$19.66B	$19.50B	$21.68B	$21.66B	$27.60B	$25.06B	$22.39B	$22.18B	$20.02B
Shareholders' equity	$7.98B	$8.02B	$9.59B	$10.09B	$13.31B	$10.93B	$10.37B	$9.97B	$10.25B	$10.18B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$1.77B	$1.51B	$1.34B	$812.00M	$2.06B	$1.77B	$1.08B	$1.29B	$862.00M	$933.00M
Capital expenditures	$229.00M	$245.00M	$242.00M	-	-	-	-	$268.00M	$300.00M	$218.00M
Free cash flow	$1.55B	$1.27B	$1.10B	-	-	-	-	$1.02B	$562.00M	$715.00M
Investing cash flow	$447.00M	$250.00M	-$1.08B	-$173.00M	$2.57B	-$160.00M	-$1.61B	-$341.00M	-$335.00M	$195.00M
Financing cash flow	-$936.00M	-$459.00M	-$1.20B	-$3.44B	-$3.11B	$378.00M	$455.00M	-$903.00M	-$479.00M	-$775.00M
Dividends paid	$358.00M	$354.00M	$352.00M	$369.00M	$374.00M	$346.00M	$329.00M	$306.00M	$277.00M	$199.00M
Share repurchases	$1.65B	$901.00M	$1.00B	$3.53B	$1.63B	$0	$150.00M	$602.00M	$532.00M	$396.00M
Stock-based compensation	$153.00M	$121.00M	$125.00M	$99.00M	$101.00M	$90.00M	$74.00M	$50.00M	$67.00M	$123.00M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	-2.2%	4.7%	7.0%	-1.5%	4.4%	2.9%	-1.7%	3.8%	4.0%	106.0%
Net income growth, YoY	-	-	4.6%	-76.1%	323.9%	-4.6%	50.2%	22.4%	35.2%	12.6%
EPS growth, YoY	-	-	10.8%	-72.6%	328.5%	-4.6%	52.2%	26.1%	37.5%	-
Operating margin	23.0%	6.3%	14.4%	13.3%	24.5%	10.0%	12.6%	9.5%	6.3%	4.4%
Net margin	16.5%	-1.0%	11.1%	11.4%	46.9%	11.6%	12.5%	8.2%	6.9%	5.3%
Free cash flow margin	15.9%	12.8%	11.6%	-	-	-	-	12.0%	6.9%	9.1%
Return on equity	20.1%	-1.2%	11.0%	10.0%	31.7%	9.1%	10.1%	7.0%	5.5%	4.1%
Return on assets	5.4%	-0.4%	3.6%	3.2%	12.1%	2.6%	2.9%	2.1%	1.7%	1.4%
Current ratio	1.20	1.20	1.06	1.07	1.26	1.05	1.06	1.07	1.07	1.03
Debt to equity	0.79	0.66	0.54	0.47	0.34	0.52	0.54	0.46	0.44	0.38

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue	$2.46B	$2.47B	$2.41B	$2.94B	$2.29B	$2.26B	$2.22B	$3.04B	$2.29B	$2.27B	$2.34B	$2.91B
Operating income	$429.00M	$364.00M	$448.00M	$1.02B	$418.00M	$368.00M	$432.00M	$901.00M	-$766.00M	$212.00M	$280.00M	$779.00M
Interest expense	$80.00M	$78.00M	$77.00M	$66.00M	$65.00M	$64.00M	$65.00M	$66.00M	$65.00M	$68.00M	$64.00M	$63.00M
Pre-tax income	$401.00M	$292.00M	$376.00M	$947.00M	$390.00M	$313.00M	$303.00M	$1.69B	-$2.00B	$167.00M	$242.00M	$736.00M
Income tax	$79.00M	$57.00M	$70.00M	$197.00M	$77.00M	-$21.00M	$65.00M	$440.00M	-$322.00M	$26.00M	$48.00M	$116.00M
Net income	$303.00M	$229.00M	$297.00M	$735.00M	$304.00M	$331.00M	$235.00M	$1.25B	-$1.68B	$141.00M	$190.00M	$622.00M
EPS, basic	$3.25	$2.43	$3.12	$7.54	$3.12	$3.34	$2.34	$12.27	-$16.44	$1.37	$1.84	$5.94
EPS, diluted	$3.24	$2.43	$3.10	$7.50	$3.11	$3.32	$2.33	$12.29	-$16.44	$1.36	$1.83	$5.90
Diluted shares	94.0M	94.0M	96.0M	-	98.0M	100.0M	101.0M	-	102.0M	103.0M	104.0M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Cash and equivalents	$1.95B	$1.63B	$1.85B	$3.13B	$1.90B	$1.96B	$1.51B	$5.00B	$1.37B	$1.25B	$1.89B	$1.42B
Short-term investments	$32.00M	$34.00M	-	$25.00M	$25.00M	$25.00M	-	$0	-	-	-	-
Receivables	$2.46B	$2.60B	$2.65B	$2.70B	$2.19B	$2.36B	$2.37B	$2.49B	$2.12B	$2.42B	$2.43B	$2.57B
Current assets	$16.13B	$16.75B	$16.09B	$16.87B	$14.62B	$15.61B	$15.46B	$15.11B	$14.31B	$14.03B	$14.64B	$13.43B
Goodwill	$9.78B	$9.73B	$9.66B	$8.94B	$8.94B	$8.94B	$8.84B	$8.80B	$8.88B	$10.18B	$10.19B	$10.20B
Total assets	$30.00B	$30.56B	$29.64B	$29.53B	$27.44B	$28.48B	$28.06B	$27.68B	$27.17B	$29.62B	$30.24B	$29.09B
Current liabilities	$14.62B	$15.24B	$13.55B	$14.00B	$13.24B	$13.87B	$13.38B	$12.60B	$12.54B	$12.67B	$13.12B	$12.63B
Short-term debt	$749.00M	$749.00M	$0	$550.00M	$550.00M	$549.00M	$549.00M	$0	$0	$0	$650.00M	$650.00M
Long-term debt	$5.78B	$5.78B	$6.30B	$5.76B	$4.76B	$4.76B	$4.76B	$5.31B	$5.31B	$5.31B	$5.31B	$4.57B
Total debt	$6.53B	$6.53B	$6.30B	$6.31B	$5.31B	$5.31B	$5.31B	$5.31B	$5.31B	$5.31B	$5.96B	$5.22B
Total liabilities	$22.16B	$22.79B	$21.58B	$21.48B	$19.63B	$20.30B	$19.85B	$19.66B	$19.60B	$20.21B	$20.67B	$19.50B
Shareholders' equity	$7.76B	$7.77B	$8.06B	$7.98B	$7.81B	$8.18B	$8.21B	$8.02B	$7.57B	$9.41B	$9.57B	$9.59B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Operating cash flow	$739.00M	$484.00M	-$10.00M	$771.00M	$678.00M	$361.00M	-$35.00M	$599.00M	$482.00M	$407.00M	$24.00M	$522.00M
Capital expenditures	$64.00M	$59.00M	$55.00M	$63.00M	$57.00M	$58.00M	$51.00M	$56.00M	$63.00M	$66.00M	$60.00M	-
Free cash flow	$675.00M	$425.00M	-$65.00M	$708.00M	$621.00M	$303.00M	-$86.00M	$543.00M	$419.00M	$341.00M	-$36.00M	-
Investing cash flow	-$89.00M	-$336.00M	-$840.00M	-$83.00M	-$82.00M	$696.00M	-$84.00M	$480.00M	-$72.00M	-$84.00M	-$74.00M	-$55.00M
Financing cash flow	-$430.00M	-$408.00M	-$203.00M	$375.00M	-$511.00M	-$824.00M	$24.00M	-$664.00M	-$159.00M	-$1.19B	$1.56B	-$472.00M
Dividends paid	$89.00M	$90.00M	$88.00M	$89.00M	$90.00M	$91.00M	$88.00M	$89.00M	$89.00M	$90.00M	$86.00M	$87.00M
Share repurchases	$220.00M	$450.00M	$300.00M	$350.00M	$600.00M	$500.00M	$200.00M	$395.00M	$205.00M	$200.00M	$101.00M	$196.00M
Stock-based compensation	$70.00M	$67.00M	$42.00M	$49.00M	$36.00M	$31.00M	$37.00M	$36.00M	$31.00M	$30.00M	$24.00M	$38.00M

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue growth, YoY	7.5%	9.1%	8.5%	-3.3%	-0.0%	-0.2%	-5.0%	4.2%	5.7%	4.9%	4.3%	7.1%
Net income growth, YoY	-0.3%	-30.8%	26.4%	-41.0%	-	134.8%	23.7%	100.3%	-	50.0%	-6.4%	5.8%
EPS growth, YoY	4.2%	-26.8%	33.0%	-39.0%	-	144.1%	27.3%	108.3%	-	54.5%	-2.7%	12.2%
Operating margin	17.4%	14.8%	18.6%	34.6%	18.3%	16.3%	19.4%	29.7%	-33.5%	9.4%	12.0%	26.7%
Net margin	12.3%	9.3%	12.3%	25.0%	13.3%	14.6%	10.6%	41.1%	-73.2%	6.2%	8.1%	21.3%
Free cash flow margin	27.4%	17.2%	-2.7%	24.1%	27.1%	13.4%	-3.9%	17.9%	18.3%	15.1%	-1.5%	-
Current ratio	1.10	1.10	1.19	1.20	1.10	1.13	1.16	1.20	1.14	1.11	1.12	1.06
Debt to equity	0.84	0.84	0.78	0.79	0.68	0.65	0.65	0.66	0.70	0.56	0.62	0.54

Source: XBRL data Willis Towers Watson Public Limited Company files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 3-for-8, first reported Feb 29, 2016.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

WTW peers

Company	Revenue	Growth	Net income	Net margin	Market cap
WTW	$10.27B	+4.8%	$1.56B	15.2%	$31.03B
MRSHMarsh	$28.46B	+7.6%	$4.04B	14.2%	$99.59B
AJGArthur J. Gallagher & Co.	$16.36B	+25.6%	$1.70B	10.4%	$73.84B
AONAon plc	$17.68B	+3.8%	$3.93B	22.2%	$73.07B
BROBrown & Brown Inc.	$6.91B	+26.1%	$1.22B	17.7%	$24.67B
EQHEquitable Holdings Inc.	$13.05B	+8.7%	$1.50B	11.5%	$14.45B
ERIEErie Indemnity Company	$4.12B	+2.0%	$576.14M	14.0%	$13.19B
RYANRyan Specialty Holdings Inc.	$3.25B	+9.8%	$193.64M	6.0%	$12.14B
FNFFidelity National Financial Inc.	$15.36B	+13.0%	$772.00M	5.0%	$11.50B

WTW FAQ

8 questions

What is WTW revenue?
Willis Towers Watson Public Limited Company (WTW) reported $10.27B of revenue for the twelve months ended Sep 30, 2026. That is up 4.8% from the year before. Revenue for fiscal 2025 was $9.71B.
Is WTW profitable?
Yes. Willis Towers Watson Public Limited Company earned $1.56B in net income for the twelve months ended Sep 30, 2026, a net margin of 15.2%.
How much cash and debt does WTW have?
Willis Towers Watson Public Limited Company reported $1.95B in cash and cash equivalents and $6.53B of debt on its most recent balance sheet in SEC filings.
How fast is WTW revenue growing?
Willis Towers Watson Public Limited Company's revenue changed -2.2% in fiscal 2025, to $9.71B. Its compound annual growth rate was +2.4% over 5 years and +9.7% over 10 years.
What is WTW free cash flow?
Willis Towers Watson Public Limited Company generated $1.74B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.98B less capital expenditures.
What is WTW earnings per share?
Diluted earnings per share were $16.27 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did WTW last report financial results?
The latest statements here come from Willis Towers Watson Public Limited Company's 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
Where does this WTW financial data come from?
Quantisnow builds these statements from the structured XBRL data Willis Towers Watson Public Limited Company files with the SEC. It is provided for information only and is not investment advice.