Willis Towers Watson annual operating margin
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Willis Towers Watson Operating Margin Growth & History (WTW)
Willis Towers Watson's operating margin was 23.48% for fiscal 2025.
View full Willis Towers Watson company overviewWillis Towers Watson annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 23.48% | +17.04 pp |
| 2024 | 2024-12-31 | 6.44% | −8.23 pp |
| 2023 | 2023-12-31 | 14.67% | +1.17 pp |
| 2022 | 2022-12-31 | 13.50% | −11.45 pp |
| 2021 | 2021-12-31 | 24.95% | +14.91 pp |
| 2020 | 2020-12-31 | 10.04% | −2.68 pp |
| 2019 | 2019-12-31 | 12.72% | +3.10 pp |
| 2018 | 2018-12-31 | 9.62% | +3.32 pp |
| 2017 | 2017-12-31 | 6.29% | +1.88 pp |
| 2016 | 2016-12-31 | 4.41% | −6.74 pp |
| 2015 | 2015-12-31 | 11.15% | −5.87 pp |
| 2014 | 2014-12-31 | 17.02% | −1.12 pp |
| 2013 | 2013-12-31 | 18.14% | +24.61 pp |
| 2012 | 2012-12-31 | −6.47% | −22.89 pp |
| 2011 | 2011-12-31 | 16.42% | −6.18 pp |
| 2010 | 2010-12-31 | 22.60% | +1.39 pp |
| 2009 | 2009-12-31 | 21.21% | +3.42 pp |
| 2008 | 2008-12-31 | 17.79% | — |
Willis Towers Watson quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 14.99% | −1.62 pp |
| Q1 2026 | 2026-03-31 | 18.96% | −0.86 pp |
| Q4 2025 | 2025-12-31 | 35.27% | +5.10 pp |
| Q3 2025 | 2025-09-30 | 18.66% | +52.89 pp |
| Q2 2025 | 2025-06-30 | 16.61% | +7.06 pp |
| Q1 2025 | 2025-03-31 | 19.82% | +7.62 pp |
| Q4 2024 | 2024-12-31 | 30.16% | +2.92 pp |
| Q3 2024 | 2024-09-30 | −34.23% | −41.71 pp |
| Q2 2024 | 2024-06-30 | 9.55% | +2.85 pp |
| Q1 2024 | 2024-03-31 | 12.20% | −0.74 pp |
| Q4 2023 | 2023-12-31 | 27.25% | +0.86 pp |
| Q3 2023 | 2023-09-30 | 7.49% | −0.54 pp |
| Q2 2023 | 2023-06-30 | 6.70% | −0.24 pp |
| Q1 2023 | 2023-03-31 | 12.94% | +4.61 pp |
| Q4 2022 | 2022-12-31 | 26.39% | +0.06 pp |
| Q3 2022 | 2022-09-30 | 8.03% | −49.92 pp |
| Q2 2022 | 2022-06-30 | 6.94% | −1.34 pp |
| Q1 2022 | 2022-03-31 | 8.33% | −1.26 pp |
| Q4 2021 | 2021-12-31 | 26.33% | +13.66 pp |
| Q3 2021 | 2021-09-30 | 57.94% | +54.44 pp |
| Q2 2021 | 2021-06-30 | 8.28% | +0.53 pp |
| Q1 2021 | 2021-03-31 | 9.59% | −5.20 pp |
| Q4 2020 | 2020-12-31 | 12.67% | −7.89 pp |
| Q3 2020 | 2020-09-30 | 3.50% | −1.95 pp |
| Q2 2020 | 2020-06-30 | 7.76% | −0.91 pp |
| Q1 2020 | 2020-03-31 | 14.79% | −0.91 pp |
| Q4 2019 | 2019-12-31 | 20.56% | +0.53 pp |
| Q3 2019 | 2019-09-30 | 5.44% | +4.51 pp |
| Q2 2019 | 2019-06-30 | 8.67% | +5.47 pp |
| Q1 2019 | 2019-03-31 | 15.70% | +4.31 pp |
| Q4 2018 | 2018-12-31 | 20.03% | +16.18 pp |
| Q3 2018 | 2018-09-30 | 0.93% | +2.33 pp |
| Q2 2018 | 2018-06-30 | 3.20% | +0.08 pp |
| Q1 2018 | 2018-03-31 | 11.39% | −5.90 pp |
| Q4 2017 | 2017-12-31 | 3.85% | +9.82 pp |
| Q3 2017 | 2017-09-30 | −1.40% | −1.46 pp |
| Q2 2017 | 2017-06-30 | 3.12% | −3.85 pp |
| Q1 2017 | 2017-03-31 | 17.29% | +2.70 pp |
| Q4 2016 | 2016-12-31 | −5.97% | −6.17 pp |
| Q3 2016 | 2016-09-30 | 0.06% | −3.14 pp |
| Q2 2016 | 2016-06-30 | 6.98% | −4.41 pp |
| Q1 2016 | 2016-03-31 | 14.59% | −12.36 pp |
| Q4 2015 | 2015-12-31 | 0.21% | −14.30 pp |
| Q3 2015 | 2015-09-30 | 3.19% | −1.00 pp |
| Q2 2015 | 2015-06-30 | 11.39% | −4.44 pp |
| Q1 2015 | 2015-03-31 | 26.95% | −2.76 pp |
| Q4 2014 | 2014-12-31 | 14.51% | −1.27 pp |
| Q3 2014 | 2014-09-30 | 4.19% | −4.62 pp |
| Q2 2014 | 2014-06-30 | 15.83% | −2.94 pp |
| Q1 2014 | 2014-03-31 | 29.72% | +2.98 pp |
| Q4 2013 | 2013-12-31 | 15.78% | +106.59 pp |
| Q3 2013 | 2013-09-30 | 8.81% | −0.48 pp |
| Q2 2013 | 2013-06-30 | 18.76% | −2.49 pp |
| Q1 2013 | 2013-03-31 | 26.74% | −4.56 pp |
| Q4 2012 | 2012-12-31 | −90.82% | −100.71 pp |
| Q3 2012 | 2012-09-30 | 9.28% | −2.56 pp |
| Q2 2012 | 2012-06-30 | 21.26% | +3.14 pp |
| Q1 2012 | 2012-03-31 | 31.29% | +7.56 pp |
| Q4 2011 | 2011-12-31 | 9.89% | −11.49 pp |
| Q3 2011 | 2011-09-30 | 11.84% | −2.62 pp |
| Q2 2011 | 2011-06-30 | 18.12% | −3.03 pp |
| Q1 2011 | 2011-03-31 | 23.73% | −7.23 pp |
| Q4 2010 | 2010-12-31 | 21.38% | +10.07 pp |
| Q3 2010 | 2010-09-30 | 14.46% | −6.58 pp |
| Q2 2010 | 2010-06-30 | 21.15% | — |
| Q1 2010 | 2010-03-31 | 30.97% | — |
| Q3 2009 | 2009-09-30 | 11.31% | — |
| Q2 2009 | 2009-06-30 | 21.05% | — |
Willis Towers Watson operating margin trends
Over the last five reported fiscal years, Willis Towers Watson's operating margin increased from 10.04% to 23.48%, a change of +13.43 percentage points. The latest reported quarter, Q2 2026, shows 14.99%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Willis Towers Watson filings at SEC.gov ↗