Willis Towers Watson Public revenue and financials
$291.98Change from previous close: +1.34%Absolute change: +$3.87
In the fiscal year ended December 2025, Willis Towers Watson Public reported revenue of $9.71B (−2.24% year over year). Net income was $1.61B, a net margin of 16.5%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- −2.24%
- 2025 vs 2024
- Net margin
- 16.5%
- 2024: -1.0%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 484 | -10.0 | 771 | 678 | 361 | -35.0 | 599 | 482 | 407 | 24.0 | 522 | 393 |
| Depreciation and amortization | 107 | 102 | 107 | 102 | 106 | 102 | 102 | 116 | 117 | 119 | 128 | 122 |
| Capital expenditure | -59.0 | -55.0 | -63.0 | -57.0 | -58.0 | -51.0 | -56.0 | -63.0 | -66.0 | -60.0 | -37.0 | -36.0 |
| Investing cash flow | -336 | -840 | -83.0 | -82.0 | 696 | -84.0 | 480 | -72.0 | -84.0 | -74.0 | -55.0 | 5.0 |
| Financing cash flow | -408 | -203 | 375 | -511 | -824 | 24.0 | -664 | -159 | -1,192 | 1,556 | -472 | -615 |
| Dividends paid | -90.0 | -88.0 | -89.0 | -90.0 | -91.0 | -88.0 | -89.0 | -89.0 | -90.0 | -86.0 | -87.0 | -88.0 |
| Share repurchases | -505 | -302 | -353 | -610 | -541 | -202 | -421 | -211 | -219 | -106 | -201 | -354 |
| Debt issued | 225 | 550 | 999 | 0.0 | 0.0 | — | — | — | — | 746 | — | — |
| Debt repaid | -1.0 | -551 | -1.0 | -2.0 | -1.0 | -1.0 | -2.0 | -1.0 | -651 | -1.0 | -1.0 | -251 |
| Effect of exchange rates | -5.0 | -29.0 | 1.0 | -5.0 | 127 | 80.0 | -129 | 85.0 | -6.0 | -47.0 | 65.0 | -55.0 |
| Net change in cash | -265 | -1,082 | 1,064 | 80.0 | 360 | -15.0 | 286 | 336 | -875 | 1,459 | 60.0 | -272 |
| Free cash flow | 425 | -65.0 | 708 | 621 | 303 | -86.0 | 543 | 419 | 341 | -36.0 | 485 | 357 |
| Levered free cash flow | 368 | -65.8 | 445 | 565 | 1,040 | -199 | 484 | -52.1 | 395 | 76.1 | 551 | 442 |