Willis Towers Watson Public Limited Company
- Open
- 263.94
- Day high
- 274.59
- Day low
- 263.15
- Prev close
- 261.37
- Volume
- 104K
- Mkt cap
- $25.9B
- P/E (TTM)
- 15.9
- EPS (TTM)
- $17.22
- P/B
- 3.2
- P/S
- 2.6
- Yield
- 0.70%
- Per share
- $1.92
- ▲Insiders net buying $1.0M over the last 3 months (2 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
Willis Towers Watson Public Limited Company (WTW) is a Financial Services company listed on NASDAQ. The stock is down 15% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 0 sales (SEC Form 4).
Willis Towers Watson Public Limited Company (WTW) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 12 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WTW earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $3.65 | $3.72 | +1.9% | $2.4B | -0.1% |
| Feb 3, 2026 | $7.96 | $8.12 | +2.0% | $2.9B | +2.9% |
| Oct 30, 2025 | $3.05 | $3.07 | +0.7% | $2.3B | +0.6% |
| Jul 31, 2025 | $2.63 | $2.86 | +8.7% | $2.3B | +1.4% |
| Apr 24, 2025 | $3.21 | $3.13 | -2.5% | $2.2B | -2.6% |
| Feb 4, 2025 | $8.01 | $8.13 | +1.5% | $3.0B | -0.5% |
| Oct 31, 2024 | $2.72 | $2.93 | +7.7% | $2.3B | +0.3% |
| Jul 25, 2024 | $2.34 | $2.55 | +9.0% | $2.3B | -0.2% |
| Apr 25, 2024 | $3.25 | $3.29 | +1.2% | $2.3B | -1.2% |
| Oct 26, 2023 | $2.07 | $2.24 | +8.2% | $2.2B | +3.7% |
| Jul 27, 2023 | $2.38 | $2.05 | -13.9% | $2.2B | +1.5% |
| Apr 27, 2023 | $2.81 | $2.84 | +1.1% | $2.2B | +1.0% |
WTW insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 22, 2026 | Swanback Michelle Rdirector | Grant | 925 | — |
| May 22, 2026 | Chima Fumbi F.director | Grant | 1,417 | — |
| May 22, 2026 | Hammond Michael P.director | Grant | 925 | — |
| May 22, 2026 | REILLY PAUL Cdirector | Grant | 1,319 | — |
| May 22, 2026 | Hunt Jacquelinedirector | Grant | 925 | — |
| May 22, 2026 | Beale Inga Kdirector | Grant | 925 | — |
| May 22, 2026 | Chipman Stephen M.director | Grant | 925 | — |
| May 22, 2026 | Tomczyk Fredric Jdirector | Grant | 925 | — |
| May 18, 2026 | Chima Fumbi F.director | Tax | 534 | $247.64 |
| May 18, 2026 | Hammond Michael P.director | Tax | 341 | $247.64 |
| May 18, 2026 | Chipman Stephen M.director | Tax | 341 | $247.64 |
| May 18, 2026 | Tomczyk Fredric Jdirector | Tax | 341 | $247.64 |
| May 18, 2026 | Beale Inga Kdirector | Tax | 341 | $247.64 |
| May 18, 2026 | Hunt Jacquelinedirector | Tax | 341 | $247.64 |
| May 18, 2026 | Swanback Michelle Rdirector | Tax | 341 | $247.64 |
Source: WTW SEC Form 4 filings, latest May 22, 2026. For informational purposes only — not investment advice.
See the full WTW insider & 13F page →Willis Towers Watson Public Limited Company company profile
Overview
Willis Towers Watson Public Limited Company (NASDAQ:WTW) is a multinational professional services firm that traces its origins to 1828. The company was formed through the 2016 merger of Willis Group Holdings and Towers Watson, creating one of the world's largest insurance brokerages and risk advisory firms. Headquartered in London, WTW operates globally providing advisory, broking, and solutions services across insurance, employee benefits, talent management, and risk consulting. The company serves clients ranging from Fortune 500 corporations to mid-market businesses and government entities worldwide.
Business
Willis Towers Watson operates as a comprehensive risk management and human capital advisory firm, functioning primarily as an intermediary and consultant in the complex world of corporate insurance, employee benefits, and organizational management. The company operates through two main business segments that collectively generated approximately $9.9 billion in revenue in 2024. The Health, Wealth and Career (HWC) segment represents roughly 65% of total revenues and focuses on helping organizations manage their human capital investments. This includes designing and administering employee benefit programs such as health insurance, retirement plans, and pension schemes. The segment provides actuarial services - essentially mathematical and statistical analysis to help companies understand and price their employee benefit risks. For example, when a company wants to set up a 401(k) retirement plan, WTW helps design the plan structure, ensures regulatory compliance, and provides ongoing administration. The HWC segment also includes Benefits Delivery & Outsourcing services, where WTW essentially takes over the entire management of a company's employee benefits programs, handling everything from enrollment to claims processing. The Risk and Broking (R&B) segment accounts for approximately 35% of revenues and serves as an insurance broker and risk consultant. Rather than selling insurance directly, WTW acts as an intermediary between businesses seeking insurance coverage and insurance companies willing to provide that coverage. The segment specializes in complex commercial insurance needs such as property and casualty coverage, aerospace insurance, marine insurance, and specialty lines like cyber security coverage. Additionally, this segment provides Insurance Consulting and Technology services, helping insurance companies themselves optimize their operations, pricing models, and regulatory compliance. WTW also offers investment consulting services to insurance companies, advising them on how to invest their reserves and manage their capital.
Revenue model
Willis Towers Watson generates revenue through multiple complementary business models that leverage its expertise in risk management and human capital consulting. The company primarily operates on a fee-for-service model, earning commissions, consulting fees, and administrative charges rather than taking principal risk. In the Risk and Broking segment, WTW earns commissions from insurance carriers when clients purchase insurance policies through their brokerage services. These commissions typically range from 5-15% of the premium paid by the client, with higher rates for specialty or complex coverage. The company also charges consulting fees for risk assessment, claims management, and strategic advisory services. For large corporate clients, WTW may negotiate fee-based arrangements rather than commission-based compensation to avoid potential conflicts of interest. The Health, Wealth and Career segment generates revenue through project-based consulting fees, ongoing administrative fees, and asset-based management charges. For retirement plan administration, WTW typically charges annual fees based on plan assets or participant counts. Health benefit consulting generates project fees for plan design and ongoing administrative fees for program management. The Benefits Delivery & Outsourcing business operates on a per-employee-per-month fee structure, essentially charging a subscription fee for managing all aspects of a client's benefits programs. Several factors significantly impact WTW's profitability margins. Favorable factors include rising insurance premiums (which increase commission revenue), increased regulatory complexity (driving demand for compliance consulting), economic uncertainty (spurring risk management investments), and corporate focus on employee retention (boosting benefits consulting). Margin pressures come from intense competition among brokers, client demands for fee transparency, technology investments required to stay competitive, talent costs in a specialized labor market, and economic downturns that reduce client spending on discretionary consulting services. The company's transformation program, which has generated over $450 million in cost savings, demonstrates management's focus on operational efficiency to protect margins.
Competitive moat
Willis Towers Watson possesses a moderate but meaningful competitive moat built primarily on relationships, expertise, and switching costs, though this moat faces ongoing pressure from industry consolidation and technological disruption. The company's strongest defensive characteristics include deep, long-term client relationships that often span decades, particularly in complex areas like pension administration and specialty insurance where switching costs are substantial. WTW's specialized expertise in niche areas such as aerospace insurance, pension risk transfer, and executive compensation creates barriers for generalist competitors. The company benefits from significant scale advantages in areas like benefits administration, where fixed technology investments can be spread across large client bases. Regulatory complexity in insurance and benefits creates ongoing demand for specialized knowledge that smaller competitors struggle to maintain. However, WTW's moat is under pressure from several directions. The insurance brokerage industry is highly fragmented with numerous capable competitors including Marsh McLennan, Aon, and Arthur J. Gallagher, creating ongoing pricing pressure and client defection risks. Technology disruption poses a long-term threat as digital platforms and artificial intelligence could commoditize certain advisory services, particularly in standard insurance placement and benefits administration. Large corporations increasingly bring risk management and benefits expertise in-house, reducing dependence on external advisors. Additionally, the trend toward fee-based rather than commission-based compensation reduces the stickiness of client relationships and creates pressure on profit margins. The company's specialization strategy represents an attempt to strengthen its moat by focusing on complex, high-value services that are harder to replicate or automate. Success in this strategy will likely determine whether WTW can maintain its competitive position or faces gradual margin erosion from commoditization pressures.
Risks & safety
Willis Towers Watson presents a moderate margin of safety profile with manageable financial risks but elevated valuation metrics that limit downside protection. **Financial Stability:** - Cash position of $1.9 billion provides adequate liquidity buffer - Debt-to-equity ratio of 0.73 is manageable but elevated for a service business - Strong free cash flow generation of $1.3 billion annually demonstrates underlying business quality - Current ratio of 1.20 indicates sufficient short-term liquidity, though working capital management requires attention given the nature of client funds held **Valuation Concerns:** - Trading at 36x forward P/E ratio, significantly above historical averages for professional services - EV/EBITDA of 20x appears stretched relative to growth prospects - Price-to-book ratio of 4.0x reflects substantial premium to tangible assets - Current valuation offers limited margin of safety if growth disappoints or margins compress **Other Considerations:** - Recurring revenue base provides some earnings stability during economic downturns - Variable compensation structure helps protect margins during challenging periods - Exposure to insurance market cycles creates earnings volatility risk - Regulatory changes in insurance or benefits industries could impact business model
Recent development
Over the past several years, Willis Towers Watson has undergone significant strategic transformation focused on portfolio optimization, operational efficiency, and market specialization. The company completed a comprehensive three-year "Grow, Simplify, and Transform" strategy that generated over $450 million in cumulative cost savings through process optimization, technology investments, and organizational restructuring. Key strategic moves include the December 2024 divestiture of TRANZACT, a Medicare-focused benefits business, for $632 million as part of portfolio optimization efforts. The company also entered the reinsurance market through a joint venture with Bain Capital, marking a return to underwriting activities after years as purely an intermediary. In Risk and Broking, WTW launched Verita, a Managing General Underwriter platform, and acquired Global Commercial Credit to expand specialty brokerage capabilities. The company has significantly increased investment in talent and technology, hiring strategically in high-growth specialty areas while implementing artificial intelligence and digital platforms to improve efficiency. WTW's specialization strategy focuses on complex, high-value services in areas like aerospace insurance, cyber coverage, pension risk transfer, and executive compensation where the company can command premium pricing. Operational improvements include consolidation of Asian and Australasian operations, implementation of shared service centers, and development of integrated digital platforms that enable cross-selling between business segments. The transformation program has moved beyond cost reduction to focus on revenue acceleration through better client connectivity and solution integration across the HWC and R&B segments.
WTW company profile · for informational purposes only — not investment advice.
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