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Willis Towers Watson PLC (WTW) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · Insurance Brokers · DATA UPDATED 2026-09-17

Willis Towers Watson PLC (WTW) operates in the Insurance Brokers industry and is headquartered in London, United Kingdom with about 48,100 employees. Its market capitalization is roughly $29 billion. In the fiscal year ended 2025-12-31, WTW reported $9.7B in revenue and $1.6B in net income.

Willis Towers Watson Public Limited Company operates as an advisory, broking, and solutions company worldwide. The company operates through two segments: Health, Wealth & Career and Risk & Broking.

Interactive charts & full statements → Open the WTW valuation workbench →

WTW Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$10.1B	$9.7B	$9.9B	$9.5B	$8.9B	$9.0B	$8.6B	$8.4B	$8.5B	$8.2B	$7.9B	$3.8B	$3.8B	$3.7B	$3.5B	$3.4B	$3.3B	$3.3B	$2.8B	$2.6B	$2.4B
Gross Profit	$5.4B	$4.1B	$4.4B	$7.7B	$3.8B	$3.7B	$3.5B	$3.4B	$3.4B	$3.2B	$3.0B	$1.5B	$1.5B	$1.4B	$1.0B	$1.4B	$1.5B	$3.3B	$2.8B	$2.6B	$2.4B
Gross Margin %	53.8%	42.1%	44.6%	80.9%	42.9%	41.6%	40.1%	41.1%	39.8%	39.4%	38.5%	39.9%	39.1%	39.6%	28.9%	39.5%	43.9%	100.0%	100.0%	100.0%	100.0%
Operating Income (EBIT)	$2.2B	$2.2B	$627M	$1.4B	$1.2B	$2.2B	$859M	$1.1B	$809M	$516M	$348M	$427M	$647M	$663M	($225M)	$566M	$753M	$694M	$503M	$620M	$552M
Operating Margin %	22.2%	23.0%	6.3%	14.4%	13.3%	24.5%	10.0%	12.6%	9.5%	6.3%	4.4%	11.2%	17.0%	18.1%	-6.5%	16.4%	22.6%	21.3%	17.8%	24.1%	22.7%
Net Income	$1.6B	$1.6B	($98M)	$1.1B	$1.0B	$4.2B	$996M	$1.0B	$695M	$568M	$420M	$373M	$362M	$365M	($446M)	$204M	$455M	$438M	$303M	$409M	$449M
Net Margin %	15.5%	16.5%	-1.0%	11.1%	11.4%	46.9%	11.6%	12.5%	8.2%	6.9%	5.3%	9.7%	9.5%	10.0%	-12.8%	5.9%	13.7%	13.4%	10.7%	15.9%	18.5%
EBITDA	$2.7B	$2.7B	$823M	$1.4B	$2.0B	$3.6B	$2.0B	$2.0B	$1.8B	$1.5B	$1.3B	$653M	$799M	$774M	($71M)	$537M	$898M	$858M	$593M	$686M	$615M
Earnings Per Share (EPS)	$16.15	$16.21	$-0.96	$9.95	$9.01	$32.73	$7.66	$8.03	$5.27	$4.18	$3.04	$5.41	$5.30	$5.37	$-6.83	$3.07	$7.05	$6.87	$5.42	$7.37	$7.53
Shares Outstanding (M)	94M	99M	102M	106M	112M	129M	130M	130M	132M	136M	138M	69M	68M	68M	65M	66M	65M	64M	56M	55M	60M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WTW Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$2.5B	$2.4B	$2.9B	$2.3B	$2.3B	$2.2B	$3.0B	$2.3B
Gross Profit	$2.5B	$593M	$1.5B	$875M	$812M	$899M	$1.7B	$893M
Gross Margin %	100.0%	24.6%	51.0%	38.2%	35.9%	40.4%	55.0%	39.0%
Operating Income (EBIT)	$364M	$448M	$1.0B	$418M	$368M	$432M	$901M	($766M)
Operating Margin %	14.8%	18.6%	34.6%	18.3%	16.3%	19.4%	29.7%	-33.5%
Net Income	$229M	$297M	$735M	$304M	$331M	$235M	$1.2B	($1.7B)
Net Margin %	9.3%	12.3%	25.0%	13.3%	14.6%	10.6%	41.0%	-73.2%
EBITDA	$480M	$504M	$1.1B	$558M	$483M	$470M	$1.9B	$470M
Earnings Per Share (EPS)	$2.44	$3.10	$7.58	$3.04	$3.31	$2.33	$12.22	$-16.42
Shares Outstanding (M)	94M	96M	97M	100M	100M	101M	102M	102M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WTW Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$1.9B	$1.8B	$1.5B	$1.3B	$812M	$2.1B	$1.8B	$1.1B	$1.3B	$862M	$967M	$243M	$477M	$561M	$525M	$439M	$489M	$418M	$211M	$268M	$147M
Capital Expenditures (CapEx)	$228M	$229M	$245M	$242M	$204M	$201M	$286M	$305M	$322M	$375M	$307M	$158M	$117M	$119M	$137M	$111M	$83M	$96M	$94M	$185M	$55M
Free Cash Flow (FCF)	$1.7B	$1.5B	$1.3B	$1.1B	$608M	$1.9B	$1.5B	$776M	$966M	$487M	$660M	$85M	$360M	$442M	$388M	$328M	$406M	$322M	$117M	$83M	$92M
FCF Margin %	16.8%	15.9%	12.8%	11.6%	6.9%	20.7%	17.3%	9.3%	11.3%	5.9%	8.4%	2.2%	9.5%	12.1%	11.2%	9.5%	12.2%	9.9%	4.1%	3.2%	3.8%
Dividends Paid	$357M	$358M	$354M	$352M	$369M	$374M	$346M	$329M	$306M	$277M	$199M	$277M	$210M	$193M	$185M	$180M	$202M	$191M	$146M	$143M	$145M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WTW Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$484M	($10M)	$771M	$678M	$361M	($35M)	$599M	$482M
Capital Expenditures (CapEx)	$59M	$55M	$63M	$51M	$58M	$51M	$189M	$63M
Free Cash Flow (FCF)	$425M	($65M)	$708M	$627M	$303M	($86M)	$410M	$419M
FCF Margin %	17.2%	-2.7%	24.1%	27.4%	13.4%	-3.9%	13.5%	18.3%
Dividends Paid	$90M	$88M	$89M	$90M	$91M	$88M	$89M	$89M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WTW Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$30.6B	$29.5B	$27.7B	$29.1B	$31.8B	$35.0B	$38.5B	$35.5B	$32.4B	$32.5B	$30.3B	$18.9B	$15.4B	$14.8B	$15.1B	$15.6B	$15.7B	$15.6B	$16.4B	$12.9B	$13.4B
Cash & Cash Equivalents	$1.6B	$3.1B	$1.9B	$1.4B	$1.3B	$4.5B	$2.0B	$887M	$1.0B	$1.0B	$870M	$532M	$635M	$796M	$500M	$436M	$316M	$191M	$176M	$200M	$288M
Total Liabilities	$22.8B	$21.5B	$19.7B	$19.5B	$21.7B	$21.7B	$27.6B	$25.1B	$22.4B	$22.2B	$20.2B	$16.5B	$13.4B	$12.6B	$15.1B	$13.1B	$13.1B	$13.4B	$14.5B	$11.6B	$11.9B
Total Debt (Short + Long-Term)	$6.6B	$6.4B	$5.4B	$5.3B	$4.8B	$4.7B	$5.8B	$5.8B	$4.6B	$85M	$508M	$988M	$167M	$15M	$15M	$15M	$110M	$209M	$785M	$5M	$0M
Total Shareholders' Equity	$7.7B	$8.0B	$7.9B	$9.5B	$10.0B	$13.3B	$10.8B	$10.2B	$9.9B	$10.1B	$10.0B	$2.2B	$2.0B	$2.2B	$1.7B	$2.5B	$2.6B	$2.2B	$1.8B	$1.3B	$1.5B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive WTW viewer.

WTW Metric Deep Dives

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