Willis Towers Watson Public Limited Company

Insurance Agents, Brokers & Service

WTWStrained10 of 11 basics passed

$296.26

-0.54%

Market cap $27.5B

$296.26

-0.54%

Market cap $27.5B

Willis Towers Watson PLC is an advisory, broking, and solutions company that provides data-driven, insight-led solutions in the areas of people, risk, and capital. The company's segments include Health, Wealth & Career (HWC) and Risk & Broking (R&B).

It is a $27.5B financial services company. Revenue grew 3.0% over the last year, and it keeps 15¢ of every dollar of sales as profit. It trades at 17.2× earnings — near the highest of its own history.

Website: willistowerswatson.com
Location: London England, X0
Employees: 48 100
Sector: Financial Services

Share price · 3 years

$208.46 → $296.26+42.1%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $10.1B
Profit: keeps 15¢ of every $1 sold; $1.56B
Free cash flow: cash left after running the business; $1.69B
Net debt: debt minus cash on hand; $2.62B
P/E: years of profit in the price; 17.2
EPS: earnings per share, TTM; $15.60
Dividend: pays out 23% of profit · 22% of FCF; 1.33%
Shares: down 22% since 2021 — buybacks; 100.3M
Volatility: beta vs the market — under 1 swings less; 0.46

Revenue, last 10 years

52-week range

Low $242.12$296.26High $350.75

Today's price is 50% of the way from the year's low to its high.

P/E vs its history5y

17.6×median 8.3×

Higher than 96% of past days — near the highest of its own history.

Valuation vs own history

P/E

17.6×

P/S

2.7×

91%

EV/EBITDA

14.0×

78%

P/B

3.5×

35%

FCF yield

6.1%

82%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Insider activity · 90 days

-$250Knet selling

Purchases$0

Sales$250K

Insiders trading, last 14d0 buy · 0 sell

Standing in Financial Services

Size$27.5Btop 45%
Revenue growth+3%top 78%
Net margin15%top 53%
Return on equity20%top 27%
P/E17.2×top 60%
Dividend yield1.33%top 71%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong profitability and quality; Growth and Moat lag behind.

Valuation60

P/E vs own history96th pct · 0/25
FCF yield6.1% · 20/25
P/S2.7x · 20/25
EV/EBITDA11.8x · 20/25

Growth26

Revenue CAGR1.9% · 6/25
Net income CAGR-21.5% · 0/25
EPS CAGR ~5Y-16.4% · 0/25
Fwd implied growth25.8% · 20/25

Profitability80

ROIC17.1% · 20/25
ROE19.9% · 20/25
Net margin15.5% · 20/25
Operating margin22.5% · 20/25

Health50

Altman Zn/a · 0/25
Current ratio1.10 · 12/25
Interest coverage8.1x · 18/25
Net cash / debtD/A 9% · 20/25

Quality85

Piotroski F6/9 · 15/25
Beneish M-2.81 · 25/25
FCF conversion108% · 25/25
Margin stabilityσ 5.8% · 20/25

Moat42

ROIC >12% years3/10 yrs · 6/25
Median gross margin18.9% · 6/25
FCF-positive years8/8 yrs · 25/25
Worst-year net marginworst -1.0% · 5/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2021Financial
Became debt-free
cash now exceeds total debt
FY2021Financial
Best year on record
$4.22B net income
FY2016Financial
First recorded profitable year
$420M net income
FY2016Financial
Revenue already above $1B
$7.89B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2022 would be worth ~$12 736 today — price return only

$9.7B revenue in FY2025

Positive free cash flow 10 years in a row

48 100 employees

ROIC of 17.1%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Strong cash conversion — FCF is 16.7% of revenue
Interest covered 8.1× by operating earnings
High returns on invested capital (ROIC 17.1%)

Watch-outs

Loss-making in 1 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

10 of 11 checks passed

Revenue growing — the company sells more than a year ago+3.0% YoY
Profitable — makes more than it spends$1.56B TTM
Profit growing — earnings are higher than last year+21.6% YoY
Generates cash — cash left after running and investing$1.69B TTM
Debt under control — could handle its obligations~1.6y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$27.5B market cap
Not printing shares — share count not ballooning — you keep your slice-22.1% shares over ~5y
Proven track record — years of profitability behind it9/10 profitable years
Financially stable — balance sheet not near distresshealth score 30/100
Pays a dividend — returns cash to shareholdersyield 1.33%
Valuation not extreme — price not wildly above earningsP/E 17.2

Peer comparisonWillis Towers Watson Public Limited Company vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
WTW this company	$27.5B	17.2	+3.0%	15.5%	Strained
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: WTW vs BRK.A · WTW vs BRK.B · WTW vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 4Buy 15Hold 9

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $10.1B · net income $1.56B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$10.1B

YoY 3.0%

Net income (TTM)

$1.56B

Margin 15.5%

Operating margin

22.5%

P/E ratio

17.2

Dividend yield

1.33%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	9.4	9.0	8.9	9.5	9.9	9.7
Gross profit	1.2	2.2	4.1	4.2	0.6	2.2
Operating income (EBIT)	1.2	2.2	1.8	1.9	2.2	2.2
Net income	1.0	4.2	1.0	1.1	-0.1	1.6
EPS (diluted)	—	32.78	9.45	10.29	-0.98	16.00

Cash flowFree cash flow $1.69B · operating cash flow $1.92B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$1.69B

Margin 16.7%

Operating cash flow (TTM)

$1.92B

FCF margin

16.7%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	1.8	2.1	0.8	1.3	1.5	1.8
Capital expenditure	—	-0.1	-0.1	-0.2	-0.2	-0.2
Free cash flow	1.8	1.9	0.7	1.1	1.3	1.5
FCF margin	19.0%	21.3%	7.6%	11.6%	12.8%	15.9%

Balance sheetAssets $29.5B · net debt $2.62B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $29.5B of assets is financed

73%

27%

Liabilities $21.5B — borrowed moneyEquity $7.98B — owners' stake

Cash vs debt

Total debt $5.76B − cash $3.13B = net debt $2.62B

Cash on hand covers 54% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

8.1x

EBIT ÷ interest expense

ROE

19.9%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	2.1	4.5	1.3	1.4	1.9	3.1
Total assets	38.5	35.0	31.8	29.1	27.7	29.5
Total liabilities	27.6	21.7	21.7	19.5	19.7	21.5
Total debt	4.7	4.0	5.5	5.9	5.3	5.8
Equity	10.8	13.3	10.1	9.6	7.9	8.0
Net debt	2.6	-0.5	4.2	4.5	3.4	2.6

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of WTW on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $296.26 · market cap $27.5B.