Willis Towers Watson

WTW · Financials · Market cap $31.4B

Q4 FY25 Oct 1 – Dec 31, 2025 reported Feb 25, 2026

Revenue$2.9B −3% year over year

Gross profit–

Operating profit$1B

Net profit$0.7B 25% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.9	100%	−3%
Health Wealth and Career	1.7	59%	−11%
Risk and Broking	1.3	45%	+10%
Operating expenses	−1.9	65%	+0pp
Operating profit	1	35% margin	+5pp
Tax	−0.2
Interest & other costs	−0.1
Net profit	0.7	25%	−16pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.3	100%	+0%
Health Wealth and Career	1.3	57%	−5%
Risk and Broking	1	43%	+7%
Operating expenses	−1.9	82%	+0pp
Operating profit	0.4	18% margin	+52pp
Tax	−0.1
Net profit	0.3	13%	+86pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.3	100%	+0%
Health Wealth and Career	1.2	52%	−6%
Risk and Broking	1.1	48%	+7%
Operating expenses	−1.9	84%	+0pp
Operating profit	0.4	16% margin	+7pp
Interest & other costs	−0.1
Net profit	0.3	15%	+8pp

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.2	100%	−5%
Health Wealth and Career	1.2	55%	−13%
Risk and Broking	1	45%	+5%
Operating expenses	−1.8	81%	+0pp
Operating profit	0.4	19% margin	+7pp
Tax	−0.1
Interest & other costs	−0.1
Net profit	0.2	11%	+2pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 25, 2026	$2.9B	−3%	34%	$0.7B	25%
Q3 FY25	Sep 30, 2025	Oct 30, 2025	$2.3B	+0%	17%	$0.3B	13%
Q2 FY25	Apr 1 – Jun 30, 2025	Aug 1, 2025	$2.3B	+0%	17%	$0.3B	15%
Q1 FY25	Jan 1 – Mar 31, 2025	Apr 24, 2025	$2.2B	−5%	18%	$0.2B	11%