Willis Towers Watson annual debt-to-equity ratio
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2025
Willis Towers Watson Debt-to-Equity Ratio Growth & History (WTW)
Willis Towers Watson's debt-to-equity ratio was 0.87 for fiscal 2025.
View full Willis Towers Watson company overviewWillis Towers Watson annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.87 | 0.12 | +15.80% |
| 2024 | 2024-12-31 | 0.75 | 0.12 | +19.70% |
| 2023 | 2023-12-31 | 0.62 | 0.08 | +14.09% |
| 2022 | 2022-12-31 | 0.55 | 0.13 | +32.22% |
| 2021 | 2021-12-31 | 0.41 | −0.21 | −33.41% |
| 2020 | 2020-12-31 | 0.62 | −0.04 | −5.88% |
| 2019 | 2019-12-31 | 0.66 | 0.08 | +13.12% |
| 2018 | 2018-12-31 | 0.58 | 0.13 | +29.02% |
| 2017 | 2017-12-31 | 0.45 | 0.06 | +16.24% |
| 2016 | 2016-12-31 | 0.39 | −1.08 | −73.51% |
| 2015 | 2015-12-31 | 1.47 | 0.31 | +26.40% |
| 2014 | 2014-12-31 | 1.16 | 0.11 | +10.20% |
| 2013 | 2013-12-31 | 1.06 | −0.33 | −23.82% |
| 2012 | 2012-12-31 | 1.38 | 0.42 | +43.76% |
| 2011 | 2011-12-31 | 0.96 | 0.07 | +8.41% |
| 2010 | 2010-12-31 | 0.89 | −0.20 | −18.40% |
| 2009 | 2009-12-31 | 1.09 | — | — |
Willis Towers Watson quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.92 | 0.19 | +26.06% |
| Q1 2026 | 2026-03-31 | 0.87 | 0.14 | +18.78% |
| Q4 2025 | 2025-12-31 | 0.87 | 0.12 | +15.80% |
| Q3 2025 | 2025-09-30 | 0.76 | −0.04 | −4.40% |
| Q2 2025 | 2025-06-30 | 0.73 | 0.09 | +14.16% |
| Q1 2025 | 2025-03-31 | 0.73 | 0.03 | +4.01% |
| Q4 2024 | 2024-12-31 | 0.75 | 0.12 | +19.70% |
| Q3 2024 | 2024-09-30 | 0.80 | 0.17 | +27.28% |
| Q2 2024 | 2024-06-30 | 0.64 | 0.01 | +1.59% |
| Q1 2024 | 2024-03-31 | 0.70 | 0.16 | +29.35% |
| Q4 2023 | 2023-12-31 | 0.62 | 0.08 | +14.09% |
| Q3 2023 | 2023-09-30 | 0.63 | 0.07 | +13.02% |
| Q2 2023 | 2023-06-30 | 0.63 | 0.10 | +18.40% |
| Q1 2023 | 2023-03-31 | 0.54 | 0.05 | +9.78% |
| Q4 2022 | 2022-12-31 | 0.55 | 0.13 | +32.22% |
| Q3 2022 | 2022-09-30 | 0.56 | 0.06 | +12.97% |
| Q2 2022 | 2022-06-30 | 0.53 | 0.01 | +1.89% |
| Q1 2022 | 2022-03-31 | 0.49 | −0.04 | −6.85% |
| Q4 2021 | 2021-12-31 | 0.41 | −0.21 | −33.41% |
| Q3 2021 | 2021-09-30 | 0.49 | −0.14 | −22.48% |
| Q2 2021 | 2021-06-30 | 0.52 | −0.12 | −18.52% |
| Q1 2021 | 2021-03-31 | 0.53 | −0.15 | −21.63% |
| Q4 2020 | 2020-12-31 | 0.62 | −0.04 | −5.88% |
| Q3 2020 | 2020-09-30 | 0.63 | −0.07 | −10.37% |
| Q2 2020 | 2020-06-30 | 0.64 | 0.09 | +15.96% |
| Q1 2020 | 2020-03-31 | 0.68 | 0.10 | +16.60% |
| Q4 2019 | 2019-12-31 | 0.66 | 0.08 | +13.12% |
| Q3 2019 | 2019-09-30 | 0.71 | 0.24 | +51.87% |
| Q2 2019 | 2019-06-30 | 0.55 | 0.10 | +21.30% |
| Q1 2019 | 2019-03-31 | 0.58 | 0.15 | +34.76% |
| Q4 2018 | 2018-12-31 | 0.58 | 0.13 | +29.02% |
| Q3 2018 | 2018-09-30 | 0.47 | 0.00 | +0.95% |
| Q2 2018 | 2018-06-30 | 0.46 | 0.05 | +12.15% |
| Q1 2018 | 2018-03-31 | 0.43 | 0.03 | +8.00% |
| Q4 2017 | 2017-12-31 | 0.45 | 0.06 | +16.24% |
| Q3 2017 | 2017-09-30 | 0.46 | 0.11 | +31.31% |
| Q2 2017 | 2017-06-30 | 0.41 | 0.06 | +18.21% |
| Q1 2017 | 2017-03-31 | 0.40 | 0.05 | +13.60% |
| Q4 2016 | 2016-12-31 | 0.39 | −1.08 | −73.51% |
| Q3 2016 | 2016-09-30 | 0.35 | −0.72 | −67.27% |
| Q2 2016 | 2016-06-30 | 0.34 | −0.71 | −67.27% |
| Q1 2016 | 2016-03-31 | 0.35 | −0.65 | −65.03% |
| Q4 2015 | 2015-12-31 | 1.47 | 0.31 | +26.40% |
| Q3 2015 | 2015-09-30 | 1.07 | 0.05 | +4.88% |
| Q2 2015 | 2015-06-30 | 1.05 | 0.11 | +11.08% |
| Q1 2015 | 2015-03-31 | 1.00 | 0.05 | +5.49% |
| Q4 2014 | 2014-12-31 | 1.16 | 0.11 | +10.20% |
| Q3 2014 | 2014-09-30 | 1.02 | −0.14 | −12.00% |
| Q2 2014 | 2014-06-30 | 0.95 | −0.25 | −20.85% |
| Q1 2014 | 2014-03-31 | 0.95 | −0.35 | −26.93% |
| Q4 2013 | 2013-12-31 | 1.06 | −0.33 | −23.82% |
| Q3 2013 | 2013-09-30 | 1.16 | 0.26 | +29.42% |
| Q2 2013 | 2013-06-30 | 1.20 | 0.29 | +32.01% |
| Q1 2013 | 2013-03-31 | 1.30 | 0.38 | +40.54% |
| Q4 2012 | 2012-12-31 | 1.38 | 0.42 | +43.76% |
| Q3 2012 | 2012-09-30 | 0.90 | −0.00 | −0.35% |
| Q2 2012 | 2012-06-30 | 0.91 | 0.00 | +0.41% |
| Q1 2012 | 2012-03-31 | 0.93 | −0.05 | −5.50% |
| Q4 2011 | 2011-12-31 | 0.96 | 0.07 | +8.41% |
| Q3 2011 | 2011-09-30 | 0.90 | −0.03 | −3.58% |
| Q2 2011 | 2011-06-30 | 0.90 | −0.07 | −7.56% |
| Q1 2011 | 2011-03-31 | 0.98 | — | — |
| Q4 2010 | 2010-12-31 | 0.89 | −0.20 | −18.40% |
| Q3 2010 | 2010-09-30 | 0.94 | — | — |
| Q2 2010 | 2010-06-30 | 0.98 | — | — |
| Q4 2009 | 2009-12-31 | 1.09 | — | — |
Willis Towers Watson debt-to-equity ratio trends
Over the last five fiscal years, Willis Towers Watson's debt-to-equity ratio increased from 0.62 to 0.87, a change of 0.24. The latest reported quarter, Q2 2026, shows 0.92.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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