Willis Towers Watson

Financials Insurance Brokers London, United Kingdom Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2025
                
$9.7B
                    3y CAGR +3.1%
                    
                    P11
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.6B
                    Net margin +16.5%
                    
                    P34
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$29.5B
                    ROA +5.4%
                    
                    P73
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$1.8B
                    
                    n/a

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

25 accounts · 1 year

Total assets $29.5B

Total liabilities $21.5B

Shareholders equity $8.0B

Account	2025	Trend
Assets
Cash and Cash Equivalents	$3.1B
Accounts Receivable	$2.7B
Prepaid Expenses	$595.0M
Total Current Assets	$16.9B
Property,Plant and Equipment	$695.0M
Operating Lease Assets	$487.0M
Goodwill	$8.9B
Intangible Assets	$1.1B
Other Noncurrent Assets	$866.0M
Total Assets	$29.5B
Liabilities
Accrued Liabilities	$62.0M
Current Portion of Long Term Debt	$550.0M
Operating Lease Liabilities	$125.0M
Other Current Liabilities	$797.0M
Total Current Liabilities	$14.0B
Long Term Debt	$5.8B
Operating Lease Liabilities Noncurrent	$472.0M
Other Noncurrent Liabilities	$246.0M
Total Liabilities	$21.5B
Equity
Additional Paid In Capital	$11.1B
Retained Earnings	$-296.0M
Accumulated Other Comprehensive Income	$-2.8B
Noncontrolling Interest	$76.0M
Total Stockholders Equity	$8.0B
Total Liabilitiesand Equity	$29.5B

Income Statement

Revenue, expense, and profitability

17 accounts · 1 year

Revenue $9.7B

Operating income $2.2B

Net income $1.6B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	$9.7B
Expenses Cost of Revenue	$7.5B
Expenses Depreciation and Amortization	$192.0M
Expenses Share Based Compensation	$153.0M
Expenses Restructuring and Asset Impairment	$0
Expenses Operating Expenses	$7.5B
Other Income Expense Operating Income	$2.2B
Other Income Expense Interest Expense	$260.0M
Other Income Expense Other Income/expense	$-21.0M
Other Income Expense Income Before Tax	$2.0B
Income Tax Income Tax Expense	$318.0M
net Income net Income	$1.6B
net Income Comprehensive Income	$1.9B
Earnings Per Share Basic Eps	$16
Earnings Per Share Diluted Eps	$16
Earnings Per Share Weighted Average Shares Basic	$98.0M
Earnings Per Share Weighted Average Shares Diluted	$99.0M

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 1 year

Operating cash flow $1.8B

Investing cash flow $447.0M

Financing cash flow $-936.0M

Account	2025	Trend
CashFlow
Operating Activities net Income	$1.6B
Operating Activities Depreciation and Amortization	$226.0M
Operating Activities Stock Based Compensation	$153.0M
Operating Activities Deferred Income Taxes	$55.0M
Operating Activities Changes In Operating Assets and Liabilities	$128.0M
Operating Activities Other Non Cash Items	$-458.0M
Operating Activities net Cash From Operating Activities	$1.8B
Investing Activities Business Acquisitions	$15.0M
Investing Activities Purchases of Investments	$40.0M
Investing Activities net Cash From Investing Activities	$447.0M
Financing Activities Proceeds From Debt	$999.0M
Financing Activities Repayment of Debt	$5.0M
Financing Activities Repurchase of Common Stock	$1.6B
Financing Activities Dividends Paid	$358.0M
Financing Activities Tax Withholding On Stock Based Compensation	$56.0M
Financing Activities net Cash From Financing Activities	$-936.0M
Cash Reconciliation Effect of Exchange Rate On Cash	$203.0M
Cash Reconciliation net Change In Cash	$1.3B
Cash Reconciliation Cash At Beginning of Period	$6.5B
Cash Reconciliation Cash At End of Period	$6.5B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+23.0%
Operating margin	+23.0%
Net margin	+16.5%
FCF margin	—
Growth
Revenue CAGR (3y)	+3.1%
Returns
ROE	+20.1%
ROA	+5.4%
ROIC	+16.8%
Liquidity
Current ratio	1.20x
Quick ratio	0.42x
Leverage
D/E	2.69x
Interest coverage	8.59x
Efficiency
Asset turnover	0.33x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Willis Towers Watson

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