WTW
Willis Towers Watson Public Limited CompanyStock · FinancialsS&P 500 Equal Weight 0.2% · Nasdaq Composite 0.05% · S&P 500 0.04% · Russell 1000 0.04% · Russell 3000 0.03% · US Stock Market 0.03% · MSCI World 0.03% · MSCI ACWI 0.03%$315.61+0.06%
as of market close, Sep 11, 2026
☾ AH — —
WTW financial statements
The full income statement, balance sheet, and cash-flow statement for Willis Towers Watson Public Limited Company (WTW), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 101.6M2024-09 100.7M2024-12 99.7M2025-03 99.1M2025-06 97.5M2025-09 95.7M2025-12 94.5M2026-03 94.4M2026-06 92.9M-8.6% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 9.52B-2.3% | 9.74B+4.7% | 9.30B+6.6% | 8.73B-1.1% | 8.83B+3.2% | |
| Restructuring | 0.00-100.0% | 61.0M-10.3% | 68.0M-31.3% | 99.0M+280.8% | 26.0M+8.3% | |
| Amortization of intangibles | 192M-15.0% | 226M-14.1% | 263M-15.7% | 312M-15.4% | 369M-20.0% | |
| Provision for credit losses | 6.00M-53.8% | 13.0M+116.7% | 6.00M-53.8% | 13.0M-31.6% | 19.0M-34.5% | |
| Operating income | 2.23B+256.3% | 627M-54.1% | 1.36B+15.9% | 1.18B-46.5% | 2.20B+156.3% | |
| Interest expense | 260M-1.1% | 263M+11.9% | 235M+13.0% | 208M-1.4% | 211M-13.5% | |
| Other non-operating income | -21.0M+92.0% | -262M-279.5% | 146M-49.3% | 288M-58.9% | 701M+77.0% | |
| Equity-method income | -22.0M-1200.0% | 2.00M-33.3% | 3.00M-25.0% | 4.00M-50.0% | 8.00M+33.3% | |
| Pre-tax income | 1.95B+1814.7% | 102M-92.0% | 1.28B+1.4% | 1.26B-53.3% | 2.69B+166.3% | |
| Income tax | 318M+65.6% | 192M-10.7% | 215M+10.8% | 194M-63.8% | 536M+115.3% | |
| 1.60B+1737.8% | -98.0M-109.3% | 1.05B+4.6% | 1.01B-76.1% | 4.22B+323.9% | ||
| Income from continuing operations | — | -98.0M-109.3% | 1.05B+0.6% | 1.05B-51.0% | 2.14B+190.2% | |
| Discontinued operations | — | 0.00 | 0.00+100.0% | -40.0M-101.9% | 2.08B+706.2% | |
| Net income to non-controlling interest | 8.00M-20.0% | 10.0M+11.1% | 9.00M-40.0% | 15.0M+7.1% | 14.0M-41.7% | |
| $16.26+1793.8% | -$0.96-109.6% | $9.95+10.8% | $8.98-72.6% | $32.78+328.5% | ||
| EPS (basic) | $16.34+1802.1% | -$0.96-109.6% | $10.01+11.2% | $9.00-72.6% | $32.88+328.1% | |
| Weighted-avg shares (basic) | 98.0M-3.9% | 102M-2.9% | 105M-6.3% | 112M-12.5% | 128M-1.5% | |
| Weighted-avg shares (diluted) | 99.0M-2.9% | 102M-3.8% | 106M-5.4% | 112M-13.2% | 129M-0.8% | |
| Dividends per share | $3.68+4.5% | $3.52+4.8% | $3.36+2.4% | $3.28+8.6% | $3.02+9.8% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 16.9B+11.7% | 15.1B+12.4% | 13.4B-15.2% | 15.8B-14.3% | 18.5B-8.9% | ||
| Cash & equivalents | 3.13B+65.7% | 1.89B+32.7% | 1.42B+12.8% | 1.26B-71.9% | 4.49B+120.0% | |
| Short-term investments | 25.0M | 0.00 | — | 0.00-100.0% | 200M | |
| Accounts receivable | 2.70B+8.3% | 2.49B-3.0% | 2.57B+7.8% | 2.39B+0.7% | 2.37B-1.6% | |
| Prepaid expenses | 595M-51.1% | 1.22B+234.3% | 364M-12.1% | 414M-32.4% | 612M+27.8% | |
| Other current assets | 56.0M-6.7% | 60.0M+13.2% | 53.0M-1.9% | 54.0M+0.0% | 54.0M-27.0% | |
| 29.5B+6.7% | 27.7B-4.8% | 29.1B-8.4% | 31.8B-9.2% | 35.0B-9.2% | ||
| Property, plant & equipment | 695M+5.1% | 661M-8.2% | 720M+0.3% | 718M-15.6% | 851M-16.0% | |
| Operating lease right-of-use | 487M+0.4% | 485M-14.2% | 565M-3.6% | 586M-18.6% | 720M-20.1% | |
| Goodwill | 8.94B+1.6% | 8.80B-13.7% | 10.2B+0.2% | 10.2B-0.1% | 10.2B-2.0% | |
| Intangible assets | 1.14B-11.9% | 1.29B-35.8% | 2.02B-11.3% | 2.27B-11.0% | 2.56B-14.5% | |
| Deferred tax assets | 167M-29.8% | 238M+176.7% | 86.0M+26.5% | 68.0M-13.9% | 79.0M-16.8% | |
| Other non-current assets | 866M+7.4% | 806M-48.8% | 1.57B+15.9% | 1.36B+12.9% | 1.20B+11.3% | |
| Total non-current assets | 12.7B+0.6% | 12.6B-19.7% | 15.7B-1.7% | 15.9B-3.3% | 16.5B-9.6% | |
| 14.0B+11.2% | 12.6B-0.3% | 12.6B-14.5% | 14.8B+0.4% | 14.7B-23.8% | ||
| Short-term & current debt | 550M | 0.00-100.0% | 650M+160.0% | 250M-59.2% | 613M-36.9% | |
| Current lease liability | 125M+5.9% | 118M-5.6% | 125M-0.8% | 126M-16.0% | 150M-1.3% | |
| Other current liabilities | 797M+4.2% | 765M+12.8% | 678M-5.3% | 716M-29.5% | 1.01B+27.2% | |
| Finance lease liability (current) | 2.00M-60.0% | 5.00M+0.0% | 5.00M+25.0% | 4.00M+0.0% | 4.00M+33.3% | |
| 21.5B+9.2% | 19.7B+0.9% | 19.5B-10.1% | 21.7B+0.1% | 21.7B-21.5% | ||
| Long-term debt | 5.76B+8.4% | 5.31B+16.2% | 4.57B+2.1% | 4.47B+12.5% | 3.97B-14.8% | |
| Non-current lease liability | 472M-6.0% | 502M-15.2% | 592M-4.5% | 620M-15.5% | 734M-20.0% | |
| Operating lease liability (total) | 597M-3.7% | 620M-13.5% | 717M-3.9% | 746M-15.6% | 884M-17.4% | |
| Finance lease liability (total) | 2.00M-71.4% | 7.00M-41.7% | 12.0M-25.0% | 16.0M-15.8% | 19.0M-13.6% | |
| Finance lease liability | 0.00-100.0% | 2.00M-71.4% | 7.00M-41.7% | 12.0M-20.0% | 15.0M-21.1% | |
| Deferred tax liabilities | — | 45.0M-91.7% | 542M-27.5% | 748M-11.5% | 845M+50.6% | |
| Other non-current liabilities | 246M-17.7% | 299M+25.6% | 238M+7.7% | 221M-12.6% | 253M-12.8% | |
| Total non-current liabilities | 7.47B+5.8% | 7.07B+2.9% | 6.87B-0.4% | 6.90B-0.6% | 6.94B-16.1% | |
| 7.98B+0.5% | 7.94B-16.6% | 9.52B-5.0% | 10.0B-24.5% | 13.3B+22.6% | ||
| Additional paid-in capital | 11.1B+1.1% | 11.0B+0.7% | 10.9B+0.3% | 10.9B+0.7% | 10.8B+0.5% | |
| Retained earnings | -296M-371.6% | 109M-92.6% | 1.47B-16.9% | 1.76B-62.0% | 4.64B+90.8% | |
| Treasury stock | — | — | 0.00-100.0% | 3.00M+0.0% | 3.00M+0.0% | |
| Accumulated other comprehensive income | -2.83B+10.3% | -3.16B-10.6% | -2.86B-9.0% | -2.62B-19.9% | -2.19B+7.3% | |
| Non-controlling interest | 76.0M-1.3% | 77.0M+5.5% | 73.0M-5.2% | 77.0M+60.4% | 48.0M-57.1% | |
| Total equity incl. non-controlling | 8.05B+0.4% | 8.02B-16.4% | 9.59B-5.0% | 10.1B-24.2% | 13.3B+21.7% | |
| Total liabilities & equity | 29.5B+6.7% | 27.7B-4.8% | 29.1B-8.4% | 31.8B-9.2% | 35.0B-9.2% | |
| Shares outstanding (cover) | 94.5M-5.2% | 99.7M-2.7% | 102M-3.8% | 107M-9.5% | 118M-8.7% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.77B+17.4% | 1.51B+12.4% | 1.34B+65.6% | 812M-60.6% | 2.06B+16.2% | ||
| Depreciation & amortization | 418M-8.3% | 456M-9.7% | 505M-10.9% | 567M-12.8% | 650M-15.5% | |
| Intangible amortization | 192M-15.0% | 226M-14.1% | 263M-15.7% | 312M-15.4% | 369M-20.0% | |
| Share-based compensation | 153M+26.4% | 121M-3.2% | 125M+26.3% | 99.0M-2.0% | 101M+12.2% | |
| Deferred income taxes | 55.0M+125.8% | -213M-95.4% | -109M-101.9% | -54.0M-156.3% | 96.0M-3.0% | |
| Change in receivables | 128M-45.1% | 233M+13.1% | 206M+9.6% | 188M+40.3% | 134M+286.1% | |
| 447M+78.8% | 250M+123.0% | -1.08B-527.2% | -173M-106.7% | 2.57B+1706.3% | ||
| Capital expenditure | 229M-6.5% | 245M+1.2% | 242M | — | — | |
| Free cash flow | 1.55B+22.0% | 1.27B+14.9% | 1.10B | — | — | |
| Acquisitions | 15.0M-85.6% | 104M+1633.3% | 6.00M-92.6% | 81.0M+72.3% | 47.0M-31.9% | |
| Purchases of investments | — | — | — | — | 200M | |
| Other investing activities | — | — | — | 0.00 | 0.00-100.0% | |
| -936M-103.9% | -459M+61.8% | -1.20B+65.2% | -3.44B-10.6% | -3.11B-923.8% | ||
| Long-term debt issued | 999M+33.9% | 746M-0.3% | 748M-0.3% | 750M | 0.00-100.0% | |
| Long-term debt repaid | 5.00M-99.2% | 655M+157.9% | 254M-56.6% | 585M-42.0% | 1.01B+208.3% | |
| Common stock issued | 0.00 | 0.00 | 0.00-100.0% | 7.00M-30.0% | 10.0M-37.5% | |
| Common stock repurchased | 1.65B+83.1% | 901M-9.9% | 1.00B-71.7% | 3.53B+117.0% | 1.63B | |
| Dividends paid | 358M+1.1% | 354M+0.6% | 352M-4.6% | 369M-1.3% | 374M+8.1% | |
| Other financing activities | — | — | — | 0.00 | 0.00+100.0% | |
| FX effect on cash | 203M+309.3% | -97.0M-981.8% | 11.0M+106.7% | -164M-29.1% | -127M-200.8% | |
| Interest paid | 252M+4.1% | 242M+8.5% | 223M+10.9% | 201M-5.2% | 212M-7.4% | |
| Income taxes paid | 441M+41.3% | 312M-10.3% | 348M-18.7% | 428M-24.9% | 570M+83.9% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 31.1B-0.5% | 31.2B+25.4% | 24.9B-5.9% | 26.5B-5.3% | 28.0B+2.9% | |
| P/E | 19.4× | — | 24.4×+160.1% | 9.4×+41.6% | 6.6×-75.7% | |
| P/S | 3.3×+1.8% | 3.2×+17.5% | 2.7×-10.7% | 3.1×-3.6% | 3.2×-0.3% | |
| P/B | 3.9×-1.0% | 3.9×+48.6% | 2.6×-1.6% | 2.7×+27.6% | 2.1×-16.0% | |
| P/FCF | 20.1×-18.5% | 24.6×-6.1% | 26.2×-5.9% | 27.9×-5.3% | 29.5×+2.9% | |
| Earnings yield | 5.2% | — | 4.1%-61.6% | 10.7%-29.4% | 15.1%+311.9% | |
| FCF yield | 5.0%+22.6% | 4.1%+6.5% | 3.8%+6.3% | 3.6%+5.6% | 3.4%-2.8% | |
| Dividend yield | 1.1%-0.3% | 1.1%-19.3% | 1.4%+3.9% | 1.3%+5.5% | 1.3%-2.6% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: WTW’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all WTW filings on SEC EDGAR → Not investment advice.