WTW FY 2025 Earnings Report — Willis Towers Watson Public Limited Company Revenue & Financial Results | Market Cap Arena

Willis Towers Watson Public Limited CompanyWTW

FY 2025 Earnings

Reported February 25, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$9.7B	—	—	—	—
Op. Income	$2.2B	—	—	—	—
Gross Margin	42.1%	—	—	—	—
Net Margin	16.5%	—	—	—	—
EPS (Diluted)	$16.26	—	—	—	—
Free Cash Flow	$1.5B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$9.7B
Cost of Revenue	$5.6B
GROSS PROFIT	$4.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.8B
Operating Expenses	$1.8B
Cost & Expenses	$7.5B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$260M
Other Income/Expenses	-$303M
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$318M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$418M
EBIT	$2.3B
EBITDA	$2.7B
EPS	$16
EPS Diluted	$16

Income Statement

Item	Amount
REVENUE	$9.7B
Cost of Revenue	$5.6B
GROSS PROFIT	$4.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.8B
Operating Expenses	$1.8B
Cost & Expenses	$7.5B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$260M
Other Income/Expenses	-$303M
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$318M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$418M
EBIT	$2.3B
EBITDA	$2.7B
EPS	$16
EPS Diluted	$16

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$226M
Stock-Based Compensation	$153M
Deferred Income Tax	$55M
Other Non-Cash Items	$439M
Change in Working Capital	-$711M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$229M
Acquisitions (Net)	$855M
Purchases of Investments	-$125M
Sales/Maturities of Investments	$0
Other Investing Activities	-$54M
NET CASH FROM INVESTING	$447M
Net Debt Issuance	$984M
Common Stock Repurchased	-$1.6B
Common Dividends Paid	-$358M
Other Financing Activities	$88M
NET CASH FROM FINANCING	-$936M
FREE CASH FLOW	$1.5B
Net Change in Cash	$1.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$3.1B
Short-Term Investments	$0
Net Receivables	$2.7B
Inventory	$0
Other Current Assets	$10.4B
TOTAL CURRENT ASSETS	$16.9B
PP&E (Net)	$1.2B
Goodwill	$8.9B
Intangible Assets	$1.1B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.4B
TOTAL NON-CURRENT ASSETS	$12.7B
TOTAL ASSETS	$29.5B
Account Payables	$0
Short-Term Debt	$550M
Deferred Revenue	$0
Other Current Liabilities	$13.3B
TOTAL CURRENT LIABILITIES	$14.0B
Long-Term Debt	$5.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$7.5B
TOTAL LIABILITIES	$21.5B
Common Stock	$0
Additional Paid-In Capital	$11.1B
Retained Earnings	-$296M
Treasury Stock	$0
Accum. Other Comp. Income	-$2.8B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.0B
Minority Interest	$76M
TOTAL EQUITY	$8.1B
TOTAL LIABILITIES & EQUITY	$29.5B
Total Debt	$6.9B
Net Debt	$3.8B