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%+14.8pp	23%+16.7pp	21.6%+16.5pp	9.5%-5.2pp	7.9%-6.3pp
Net margin	16.8%—	16.5%—	——	——	——
EBITDA margin	27%+14.6pp	27.3%+16.4pp	25.8%+15.9pp	13.9%-5.8pp	12.4%-6.9pp
Free cash flow margin	15.8%+3.4pp	15.9%+3.2pp	14.1%+3.9pp	12%+3.2pp	12.4%+4.1pp
Returns
Return on equity	20.7%—	20.2%—	——	——	——
Return on assets	5.8%—	5.6%—	——	——	——
Return on invested capital	14.8%+11.9pp	15.8%+13.4pp	14.1%+10.2pp	3.6%-4.8pp	2.9%-5.0pp
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×	1.2×0.0×	1.1×0.0×	1.1×0.0×	1.2×0.0×
Quick ratio	1.2×0.0×	1.2×0.0×	1.1×0.0×	1.1×0.0×	1.2×0.0×
Cash ratio	0.1×0.0×	0.2×+0.1×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Leverage
Debt-to-equity	0.9×+0.1×	0.9×+0.1×	0.8×0.0×	0.7×+0.1×	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×-1.7×	1.4×-2.3×	1.6×-3.2×	2.9×+0.4×	3.6×+1.1×
Interest coverage	8.3×+5.3×	8.6×+6.2×	8.2×+6.2×	3.6×-2.0×	3×-2.6×
Per Share
Book value per share	$83.09+3.2%	$80.57+3.5%	$78.93+7.5%	$81.00-10.6%	$80.52-11.7%
Valuation
Market capitalization	$27.38B-18.5%	$31.46B-0.3%	$33.7B+12.7%	$29.98B+11.9%	$33.59B+19.2%
Enterprise value	$32.44B-14.7%	$35.24B-1.0%	$37.71B+9.2%	$33.95B+7.6%	$38.01B+15.4%
Price / earnings	16.4×—	19.6×—	——	——	——
Price / sales	2.8×-0.7×	3.2×+0.1×	3.4×+0.4×	3.1×+0.3×	3.4×+0.5×
Price / book	3.4×-0.7×	3.9×0.0×	4.4×+0.4×	3.7×+0.8×	4.1×+1.2×
EV / EBITDA	12.1×-19.1×	13.3×-19.6×	14.9×-20.5×	24.9×+8.4×	31.2×+13.4×
EV / sales	3.3×-0.6×	3.6×0.0×	3.8×+0.3×	3.5×+0.2×	3.9×+0.4×
Free cash flow yield	5.7%+2.1pp	4.9%+0.9pp	4.1%+0.8pp	3.9%+0.7pp	3.6%+0.8pp
Earnings yield	6.1%—	5.1%—	——	——	——
Dividend yield	1.3%+0.2pp	1.1%0.0pp	1.1%-0.1pp	1.2%-0.1pp	1.1%-0.2pp

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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.