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Willis Towers Watson (WTW)

Nasdaq Financials Insurance Brokers S&P 500
$328.86
-7.65 (-2.27%)
Close of Nov 06, 2026 · end-of-day data
Source: Willis Towers Watson's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Oct 30, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$7.89B$8.20B$8.41B$8.29B$8.55B$8.83B$8.73B$9.30B$9.74B$9.52B
Operating income$348.00M$516.00M$809.00M$1.05B$859.00M$2.20B$1.18B$1.36B$627.00M$2.23B
Interest expense$184.00M$188.00M$208.00M$234.00M$244.00M$211.00M$208.00M$235.00M$263.00M$260.00M
Pre-tax income$342.00M$492.00M$851.00M$1.05B$1.01B$2.69B$1.26B$1.28B$102.00M$1.95B
Income tax-$96.00M-$100.00M$136.00M$197.00M$249.00M$536.00M$194.00M$215.00M$192.00M$318.00M
Net income$420.00M$568.00M$695.00M$1.04B$996.00M$4.22B$1.01B$1.05B-$98.00M$1.60B
EBITDA$526.00M$768.00M$1.02B$1.29B$1.17B$2.48B$1.43B$1.61B$857.00M$2.46B
EPS (basic)$3.07$4.21$5.29$8.05$7.68$32.88$9.00$10.01$-0.96$16.34
EPS (diluted)$3.04$4.18$5.27$8.02$7.65$32.78$8.98$9.95$-0.96$16.26
Diluted shares138.00M136.00M132.00M130.00M130.00M129.00M112.00M106.00M102.00M99.00M
Operating margin4.4%6.3%9.6%12.7%10.0%24.9%13.5%14.7%6.4%23.5%
Net margin5.3%6.9%8.3%12.6%11.6%47.8%11.6%11.3%-1.0%16.9%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$870.00M$1.03B$1.03B$887.00M$2.04B$4.49B$1.26B$1.42B$1.89B$3.13B
Short-term investments—————$200.00M$0—$0$25.00M
Receivables$2.08B$2.25B$2.38B$2.62B$2.41B$2.37B$2.39B$2.57B$2.49B$2.70B
Total current assets$13.79B$15.86B$16.42B$17.04B$20.30B$18.49B$15.84B$13.43B$15.11B$16.87B
Goodwill$10.41B$10.52B$10.46B$10.38B$10.39B$10.18B$10.17B$10.20B$8.80B$8.94B
Total assets$30.25B$32.46B$32.38B$35.43B$38.53B$34.97B$31.77B$29.09B$27.68B$29.53B
Total current liabilities$13.37B$14.76B$15.30B$16.07B$19.33B$14.72B$14.78B$12.63B$12.60B$14.00B
Short-term debt$508.00M$85.00M$186.00M$316.00M$971.00M$613.00M$250.00M$650.00M$0$550.00M
Long-term debt$3.36B$4.45B$4.39B$5.30B$4.66B$3.97B$4.47B$4.57B$5.31B$5.76B
Total debt$3.87B$4.54B$4.58B$5.62B$5.63B$4.59B$4.72B$5.22B$5.31B$6.31B
Total liabilities$20.02B$22.18B$22.39B$25.06B$27.60B$21.66B$21.68B$19.50B$19.66B$21.48B
Shareholders' equity$10.06B$10.13B$9.85B$10.25B$10.82B$13.26B$10.02B$9.52B$7.94B$7.98B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$933.00M$862.00M$1.29B$1.08B$1.77B$2.06B$812.00M$1.34B$1.51B$1.77B
Capital expenditures$218.00M$300.00M$268.00M————$242.00M$245.00M$229.00M
Free cash flow$715.00M$562.00M$1.02B$1.08B$1.77B$2.06B$812.00M$1.10B$1.27B$1.55B
Investing cash flow$195.00M-$335.00M-$341.00M-$1.61B-$160.00M$2.57B-$173.00M-$1.08B$250.00M$447.00M
Financing cash flow-$775.00M-$479.00M-$903.00M$455.00M$378.00M-$3.11B-$3.44B-$1.20B-$459.00M-$936.00M
Dividends paid$199.00M$277.00M$306.00M$329.00M$346.00M$374.00M$369.00M$352.00M$354.00M$358.00M
Share buybacks$396.00M$532.00M$602.00M$150.00M$0$1.63B$3.53B$1.00B$901.00M$1.65B
Stock-based compensation$123.00M$67.00M$50.00M$74.00M$90.00M$101.00M$99.00M$125.00M$121.00M$153.00M
Depreciation & amortization$178.00M$252.00M$213.00M$240.00M$308.00M$281.00M$255.00M$242.00M$230.00M$226.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.