Willis Towers Watson PLC (WTW) Financial Statements
Industry: Insurance Agents, Brokers & Service
In fiscal 2025, Willis Towers Watson reported revenue of $9.71B, down 2.2% from $9.93B the year before. Net income was $1.60B (a 16.5% net margin), or $16.26 per diluted share. Gross margin was 23.0% and operating margin was 23.0%. Operating activities generated $1.77B of cash, leaving $1.55B of free cash flow. At fiscal year end, Willis Towers Watson held $29.53B in total assets against $21.48B in total liabilities, including $3.13B of cash and equivalents.
Open the full interactive Willis Towers Watson financials → Quarterly statements, key ratios, valuation history and price charts.
Willis Towers Watson Key Stats
| Share Price | $297.07 |
|---|---|
| Market Cap | $27.92B |
| P/E Ratio | 18.3 |
| Revenue YoY Growth | -2.2% |
| 52-Week Range | $240.44 – $349.58 |
| Shares Outstanding | 94.0 million (basic, 2026 Q2) |
Willis Towers Watson Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $9.35B | $9.00B | $8.87B | $9.48B | $9.93B | $9.71B |
| Cost of Goods Sold | $8.17B | $6.80B | $7.69B | $8.12B | $9.30B | $7.47B |
| Gross Profit | $1.18B | $2.20B | $1.18B | $1.36B | $627.0M | $2.23B |
| Operating Income | $1.18B | $2.20B | $1.18B | $1.36B | $627.0M | $2.23B |
| Pre-Tax Income | $1.34B | $2.69B | $1.26B | $1.28B | $104.0M | $1.95B |
| Income Tax | $318.0M | $536.0M | $194.0M | $215.0M | $192.0M | $318.0M |
| Net Income | $996.0M | $4.22B | $1.01B | $1.05B | -$98.0M | $1.60B |
| Diluted EPS | $7.65 | $32.78 | $8.98 | $9.95 | -$0.96 | $16.26 |
Willis Towers Watson Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $2.29B | $2.94B | $2.41B | $2.47B |
| Net Income | $304.0M | $735.0M | $297.0M | $229.0M |
| Diluted EPS | $3.11 | $7.42 | $3.10 | $2.43 |
Willis Towers Watson Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.09B | $4.49B | $1.26B | $1.42B | $1.89B | $3.13B |
| Current Assets | $20.30B | $18.49B | $15.84B | $13.43B | $15.11B | $16.87B |
| Total Assets | $38.53B | $34.97B | $31.77B | $29.09B | $27.68B | $29.53B |
| Current Liabilities | $19.33B | $14.72B | $14.78B | $12.63B | $12.60B | $14.00B |
| Total Long-Term Debt | $5.63B | $4.59B | $4.72B | $5.22B | $8.61B | $6.31B |
| Total Liabilities | $27.60B | $21.66B | $21.68B | $19.50B | $19.66B | $21.48B |
| Shareholders' Equity | $10.82B | $13.26B | $10.02B | $9.52B | $7.94B | $7.98B |
Willis Towers Watson Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.77B | $2.06B | $812.0M | $1.34B | $1.51B | $1.77B |
| Cash From Investing | -$160.0M | $2.57B | -$173.0M | -$1.08B | $250.0M | $447.0M |
| Cash From Financing | -$434.0M | -$3.11B | -$3.44B | -$1.20B | -$459.0M | -$936.0M |
| Free Cash Flow | — | — | — | — | — | $1.55B |
Figures from Willis Towers Watson's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Willis Towers Watson financials page for every line item.
Willis Towers Watson Company Profile
| Ticker | WTW |
|---|---|
| Exchange | Nasdaq |
| Industry | Insurance Agents, Brokers & Service |
| Headquarters | London England, United Kingdom |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001140536 |
Frequently Asked Questions
What was Willis Towers Watson's revenue in fiscal 2025?
Willis Towers Watson (WTW) reported revenue of $9.71B for fiscal 2025.
What is Willis Towers Watson's annual revenue history?
Willis Towers Watson's annual revenue by fiscal year: 2020: $9.35B; 2021: $9.00B; 2022: $8.87B; 2023: $9.48B; 2024: $9.93B; 2025: $9.71B.
What was Willis Towers Watson's net income in fiscal 2025?
Willis Towers Watson reported net income of $1.60B for fiscal 2025.
What was Willis Towers Watson's earnings per share (EPS) in fiscal 2025?
Willis Towers Watson's diluted EPS was $16.26 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Willis Towers Watson generate in fiscal 2025?
Willis Towers Watson generated $1.55B of free cash flow in fiscal 2025.
What was Willis Towers Watson's revenue last quarter?
In its most recent reported quarter (2026 Q2), Willis Towers Watson reported revenue of $2.47B.
How much debt does Willis Towers Watson have?
Willis Towers Watson reported $6.31B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Willis Towers Watson are outstanding?
Willis Towers Watson reported a weighted average of 94.0 million basic shares outstanding in 2026 Q2.
What is Willis Towers Watson's market cap?
Based on its latest closing price, Willis Towers Watson (WTW) has a market capitalization of about $27.92B.
When does Willis Towers Watson's fiscal year end?
Willis Towers Watson's fiscal year end, as registered with the SEC, is December 31.
Where is Willis Towers Watson headquartered?
Willis Towers Watson lists its business address in London England, United Kingdom in its SEC filings.