Where do Willis Towers Watson's ratios come from?

Every ratio is computed from Willis Towers Watson's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	22.7%-0.3pp	23%+1.4pp	21.6%+12.1pp	9.5%+1.6pp	7.9%+1.6pp
Net margin	16.8%+0.3pp	16.5%—	——	——	——
EBITDA margin	27%-0.3pp	27.3%+1.5pp	25.8%+11.9pp	13.9%+1.5pp	12.4%+1.5pp
Free cash flow margin	15.8%-0.1pp	15.9%+1.8pp	14.1%+2.1pp	12%-0.4pp	12.4%-0.4pp
Returns
Return on equity	20.7%+0.5pp	20.2%—	——	——	——
Return on assets	5.8%+0.2pp	5.6%—	——	——	——
Return on invested capital	14.8%-1.0pp	15.8%+1.7pp	14.1%+10.5pp	3.6%+0.7pp	2.9%+0.5pp
Efficiency
Asset turnover	0.3×0.0×	0.3×0.0×	0.4×0.0×	0.3×0.0×	0.3×0.0×
Liquidity
Current ratio	1.2×0.0×	1.2×+0.1×	1.1×0.0×	1.1×0.0×	1.2×0.0×
Quick ratio	1.2×0.0×	1.2×+0.1×	1.1×0.0×	1.1×0.0×	1.2×0.0×
Cash ratio	0.1×-0.1×	0.2×+0.1×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Leverage
Debt-to-equity	0.9×0.0×	0.9×+0.1×	0.8×0.0×	0.7×0.0×	0.7×0.0×
Debt-to-assets	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Net debt / EBITDA	1.9×+0.5×	1.4×-0.2×	1.6×-1.3×	2.9×-0.7×	3.6×-0.1×
Interest coverage	8.3×-0.3×	8.6×+0.4×	8.2×+4.6×	3.6×+0.6×	3×+0.6×
Per Share
Book value per share	$83.09+3.1%	$80.57+2.1%	$78.93-2.6%	$81.00+0.6%	$80.52+3.4%
Valuation
Market capitalization	$27.38B-13.0%	$31.46B-6.6%	$33.7B+12.4%	$29.98B-10.7%	$33.59B+6.4%
Enterprise value	$32.44B-7.9%	$35.24B-6.6%	$37.71B+11.1%	$33.95B-10.7%	$38.01B+6.8%
Price / earnings	16.4×-3.2×	19.6×—	——	——	——
Price / sales	2.8×-0.5×	3.2×-0.2×	3.4×+0.4×	3.1×-0.4×	3.4×+0.2×
Price / book	3.4×-0.5×	3.9×-0.4×	4.4×+0.7×	3.7×-0.4×	4.1×+0.2×
EV / EBITDA	12.1×-1.1×	13.3×-1.6×	14.9×-10.0×	24.9×-6.3×	31.2×-1.7×
EV / sales	3.3×-0.4×	3.6×-0.2×	3.8×+0.4×	3.5×-0.4×	3.9×+0.3×
Free cash flow yield	5.7%+0.8pp	4.9%+0.8pp	4.1%+0.2pp	3.9%+0.3pp	3.6%-0.4pp
Earnings yield	6.1%+1.0pp	5.1%—	——	——	——
Dividend yield	1.3%+0.2pp	1.1%+0.1pp	1.1%-0.1pp	1.2%+0.1pp	1.1%-0.1pp

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Where do Willis Towers Watson's ratios come from?: Every ratio is computed from Willis Towers Watson's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.