Willis Towers Watson annual free cash flow
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Willis Towers Watson Free Cash Flow (FCF) History (WTW)
Willis Towers Watson reported $1.55B in free cash flow for fiscal 2025, an increase of 22.02% from the previous fiscal year, with a free cash flow margin of 16.25%.
View full Willis Towers Watson company overviewWillis Towers Watson free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $1.55B | $279.0M | +22.02% | +16.25% |
| 2024 | 2024-12-31 | $1.27B | $164.0M | +14.87% | +13.01% |
| 2023 | 2023-12-31 | $1.10B | $357.0M | +47.86% | +11.86% |
| 2022 | 2022-12-31 | $746.0M | −$1.26B | −62.85% | +8.55% |
| 2021 | 2021-12-31 | $2.01B | $297.0M | +17.36% | +22.75% |
| 2020 | 2020-12-31 | $1.71B | $689.0M | +67.42% | +20.00% |
| 2019 | 2019-12-31 | $1.02B | $2.0M | +0.20% | +12.33% |
| 2018 | 2018-12-31 | $1.02B | $458.0M | +81.49% | +12.12% |
| 2017 | 2017-12-31 | $562.0M | −$153.0M | −21.40% | +6.85% |
| 2016 | 2016-12-31 | $715.0M | $617.0M | +629.59% | +9.07% |
| 2015 | 2015-12-31 | $98.0M | −$266.0M | −73.08% | +2.56% |
| 2014 | 2014-12-31 | $364.0M | −$85.0M | −18.93% | +9.57% |
| 2013 | 2013-12-31 | $449.0M | $59.0M | +15.13% | +12.28% |
| 2012 | 2012-12-31 | $390.0M | $62.0M | +18.90% | +11.21% |
| 2011 | 2011-12-31 | $328.0M | −$78.0M | −19.21% | +9.52% |
| 2010 | 2010-12-31 | $406.0M | $83.0M | +25.70% | +12.18% |
| 2009 | 2009-12-31 | $323.0M | $164.0M | +103.14% | +9.93% |
| 2008 | 2008-12-31 | $159.0M | — | — | +5.62% |
Willis Towers Watson quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $425.0M | $122.0M | +40.26% | +17.50% |
| Q1 2026 | 2026-03-31 | −$65.0M | $21.0M | — | −2.75% |
| Q4 2025 | 2025-12-31 | $708.0M | $165.0M | +30.39% | +24.57% |
| Q3 2025 | 2025-09-30 | $621.0M | $202.0M | +48.21% | +27.72% |
| Q2 2025 | 2025-06-30 | $303.0M | −$38.0M | −11.14% | +13.68% |
| Q1 2025 | 2025-03-31 | −$86.0M | −$50.0M | — | −3.94% |
| Q4 2024 | 2024-12-31 | $543.0M | $197.0M | +56.94% | +18.18% |
| Q3 2024 | 2024-09-30 | $419.0M | $51.0M | +13.86% | +18.72% |
| Q2 2024 | 2024-06-30 | $341.0M | $67.0M | +24.45% | +15.37% |
| Q1 2024 | 2024-03-31 | −$36.0M | −$151.0M | — | −1.57% |
| Q4 2023 | 2023-12-31 | $346.0M | −$13.0M | −3.62% | +12.10% |
| Q3 2023 | 2023-09-30 | $368.0M | $206.0M | +127.16% | +17.33% |
| Q2 2023 | 2023-06-30 | $274.0M | $55.0M | +25.11% | +12.94% |
| Q1 2023 | 2023-03-31 | $115.0M | $109.0M | +1816.67% | +5.22% |
| Q4 2022 | 2022-12-31 | $359.0M | $188.0M | +109.94% | +13.38% |
| Q3 2022 | 2022-09-30 | $162.0M | −$1.34B | −89.19% | +8.44% |
| Q2 2022 | 2022-06-30 | $219.0M | −$262.0M | −54.47% | +11.09% |
| Q1 2022 | 2022-03-31 | $6.0M | $148.0M | — | +0.28% |
| Q4 2021 | 2021-12-31 | $171.0M | −$383.0M | −69.13% | +6.52% |
| Q3 2021 | 2021-09-30 | $1.50B | $993.0M | +196.63% | +76.74% |
| Q2 2021 | 2021-06-30 | $481.0M | −$163.0M | −25.31% | +23.44% |
| Q1 2021 | 2021-03-31 | −$142.0M | −$150.0M | — | −6.45% |
| Q4 2020 | 2020-12-31 | $554.0M | $163.0M | +41.69% | +26.00% |
| Q3 2020 | 2020-09-30 | $505.0M | $197.0M | +63.96% | +26.75% |
| Q2 2020 | 2020-06-30 | $644.0M | $357.0M | +124.39% | +30.65% |
| Q1 2020 | 2020-03-31 | $8.0M | $112.0M | — | +0.33% |
| Q4 2019 | 2019-12-31 | $391.0M | −$122.0M | −23.78% | +19.51% |
| Q3 2019 | 2019-09-30 | $308.0M | $55.0M | +21.74% | +15.67% |
| Q2 2019 | 2019-06-30 | $287.0M | −$14.0M | −4.65% | +14.14% |
| Q1 2019 | 2019-03-31 | −$104.0M | −$57.0M | — | −4.55% |
| Q4 2018 | 2018-12-31 | $513.0M | $502.0M | +4563.64% | +21.86% |
| Q3 2018 | 2018-09-30 | $253.0M | −$31.0M | −10.92% | +13.86% |
| Q2 2018 | 2018-06-30 | $301.0M | $101.0M | +50.50% | +15.31% |
| Q1 2018 | 2018-03-31 | −$47.0M | −$80.0M | — | −2.07% |
| Q4 2017 | 2017-12-31 | $11.0M | −$234.0M | −95.51% | +0.53% |
| Q3 2017 | 2017-09-30 | $284.0M | $158.0M | +125.40% | +15.33% |
| Q2 2017 | 2017-06-30 | $200.0M | −$73.0M | −26.74% | +10.24% |
| Q1 2017 | 2017-03-31 | $33.0M | −$38.0M | −53.52% | +1.42% |
| Q4 2016 | 2016-12-31 | $245.0M | $160.0M | +188.24% | +12.71% |
| Q3 2016 | 2016-09-30 | $126.0M | $73.0M | +137.74% | +7.09% |
| Q2 2016 | 2016-06-30 | $273.0M | $233.0M | +582.50% | +14.01% |
| Q1 2016 | 2016-03-31 | $71.0M | $151.0M | — | +3.18% |
| Q4 2015 | 2015-12-31 | $85.0M | −$79.0M | −48.17% | +8.73% |
| Q3 2015 | 2015-09-30 | $53.0M | −$49.0M | −48.04% | +6.26% |
| Q2 2015 | 2015-06-30 | $40.0M | −$75.0M | −65.22% | +4.34% |
| Q1 2015 | 2015-03-31 | −$80.0M | −$63.0M | — | −7.36% |
| Q4 2014 | 2014-12-31 | $164.0M | $3.0M | +1.86% | +17.12% |
| Q3 2014 | 2014-09-30 | $102.0M | −$100.0M | −49.50% | +12.56% |
| Q2 2014 | 2014-06-30 | $115.0M | $45.0M | +64.29% | +12.30% |
| Q1 2014 | 2014-03-31 | −$17.0M | −$33.0M | — | −1.55% |
| Q4 2013 | 2013-12-31 | $161.0M | −$16.0M | −9.04% | +17.52% |
| Q3 2013 | 2013-09-30 | $202.0M | $84.0M | +71.19% | +25.41% |
| Q2 2013 | 2013-06-30 | $70.0M | $1.0M | +1.45% | +7.87% |
| Q1 2013 | 2013-03-31 | $16.0M | −$10.0M | −38.46% | +1.52% |
| Q4 2012 | 2012-12-31 | $177.0M | $50.0M | +39.37% | +20.32% |
| Q3 2012 | 2012-09-30 | $118.0M | −$4.0M | −3.28% | +15.65% |
| Q2 2012 | 2012-06-30 | $69.0M | −$23.0M | −25.00% | +8.19% |
| Q1 2012 | 2012-03-31 | $26.0M | $39.0M | — | +2.57% |
| Q4 2011 | 2011-12-31 | $127.0M | −$90.0M | −41.47% | +15.51% |
| Q3 2011 | 2011-09-30 | $122.0M | $42.0M | +52.50% | +16.05% |
| Q2 2011 | 2011-06-30 | $92.0M | $23.0M | +33.33% | +10.69% |
| Q1 2011 | 2011-03-31 | −$13.0M | −$53.0M | — | −1.29% |
| Q4 2010 | 2010-12-31 | $217.0M | $175.0M | +416.67% | +26.21% |
| Q3 2010 | 2010-09-30 | $80.0M | — | — | +10.91% |
| Q2 2010 | 2010-06-30 | $69.0M | — | — | +8.64% |
| Q1 2010 | 2010-03-31 | $40.0M | — | — | +4.12% |
| Q3 2009 | 2009-09-30 | $42.0M | — | — | +5.79% |
Willis Towers Watson free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $1.71B to $1.55B, a compound annual decline of 2.01%. Willis Towers Watson's latest reported quarter, Q2 2026, generated $425.0M in free cash flow, an increase of 40.26% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Willis Towers Watson filings at SEC.gov ↗