Willis Towers Watson Public Limited Company (WTW)
NASDAQ: WTW · Real-Time Price · USD
337.37
+9.71 (2.96%)
Nov 4, 2026, 4:00 PM EST - Market closed
Willis Towers Watson Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 1,564 | 1,605 | -98 | 1,055 | 1,009 | 4,222 |
Depreciation & Amortization | 423 | 416 | 454 | 505 | 567 | 650 |
Other Amortization | 12 | 2 | 2 | - | - | - |
Loss (Gain) From Sale of Assets | -37 | -40 | 337 | -43 | 59 | -379 |
Asset Writedown & Restructuring Costs | 14 | - | 1,083 | 38 | 152 | - |
Stock-Based Compensation | 228 | 153 | 121 | 125 | 99 | 101 |
Provision & Write-off of Bad Debts | 9 | 6 | 13 | 6 | 13 | 19 |
Other Operating Activities | 230 | 344 | -74 | 30 | -199 | 197 |
Change in Accounts Receivable | -235 | -128 | -233 | -206 | -188 | -134 |
Change in Other Net Operating Assets | -224 | -583 | -93 | -165 | -700 | -315 |
Operating Cash Flow | 1,984 | 1,775 | 1,512 | 1,345 | 812 | 2,061 |
Operating Cash Flow Growth | 23.77% | 17.39% | 12.42% | 65.64% | -60.60% | 16.18% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -241 | -229 | -245 | -242 | -138 | -148 |
Cash Acquisitions | -1,104 | -15 | -104 | -6 | -81 | -47 |
Divestitures | 12 | 816 | 614 | -833 | -88 | 3,018 |
Sale (Purchase) of Intangibles | - | - | - | - | -66 | -53 |
Investment in Securities | -42 | -125 | -15 | -4 | 200 | -200 |
Other Investing Activities | -2 | - | - | - | - | - |
Investing Cash Flow | -1,348 | 447 | 250 | -1,085 | -173 | 2,570 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | 999 | 746 | 748 | 750 | - |
Total Debt Issued | 1,774 | 999 | 746 | 748 | 750 | - |
Long-Term Debt Repaid | - | -5 | -655 | -254 | -585 | -1,008 |
Net Debt Issued (Repaid) | 1,221 | 994 | 91 | 494 | 165 | -1,008 |
Issuance of Common Stock | - | - | - | - | 7 | 10 |
Repurchase of Common Stock | -1,384 | -1,706 | -957 | -1,026 | -3,564 | -1,643 |
Common Dividends Paid | -356 | -358 | -354 | -352 | -369 | -374 |
Other Financing Activities | -147 | 134 | 761 | -316 | 316 | -99 |
Financing Cash Flow | -666 | -936 | -459 | -1,200 | -3,445 | -3,114 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -37 | 203 | -97 | 11 | -164 | -127 |
Net Cash Flow | -67 | 1,489 | 1,206 | -929 | -2,970 | 1,390 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 1,743 | 1,546 | 1,267 | 1,103 | 674 | 1,913 |
Free Cash Flow Growth | 26.21% | 22.02% | 14.87% | 63.65% | -64.77% | 23.34% |
Free Cash Flow Margin | 16.96% | 15.93% | 12.76% | 11.63% | 7.60% | 21.26% |
Free Cash Flow Per Share | 18.30 | 15.62 | 12.42 | 10.41 | 6.02 | 14.83 |
Levered Free Cash Flow | 1,491 | 1,919 | 963.5 | 1,461 | 1,135 | 1,722 |
Unlevered Free Cash Flow | 1,679 | 2,082 | 1,128 | 1,608 | 1,265 | 1,854 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 252 | 252 | 242 | 223 | 201 | 212 |
Cash Income Tax Paid | 441 | 441 | 312 | 348 | 428 | 570 |
Change in Working Capital | -459 | -711 | -326 | -371 | -888 | -449 |