WTW at a glance
Willis Towers Watson (WTW, SEC CIK 1140536) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on July 30, 2026 and Form 4 insider filings as recently as October 5, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Willis Towers Watson (WTW) reported revenue of $9.5 billion (down 2.3% from FY2024) and net income of $1.6 billion. Diluted EPS was $16.26.
- As of June 30, 2026, 36 institutional investment managers tracked by SignalX reported holding Willis Towers Watson (WTW) shares worth $9.3 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Faber Alexis on August 10, 2026 of 730 shares at $342.70 per share.
- In the last 90 days, WTW insiders reported 0 open-market purchases ($0) and 1 open-market sale ($250K) on Form 4, a net sale of $250K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $9.5B
- −2.3% vs prior year
- Insiders · 90 days
- 0 buys · 1 sell
- Net −$250K
- 13F holders
- 36 funds
- $9.3B · −1 vs prior quarter
- Latest 8-K
- Jul 30, 2026
- Item 2.02 · Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Management Discussion & Analysis
- Revenue $9.7B vs $9.9B, down 2% as-reported; organic growth +5% excluding TRANZACT divestiture and FX impact
- Operating margin 23.0% vs 6.3% GAAP (prior year distorted by $1.0B TRANZACT impairment); adjusted operating margin 25.2% vs 23.9%; adjusted EBITDA margin 27.2% vs 26.4%
- R&B best performer: revenue $4.3B, up 7% organic, segment operating income $1.1B vs $958M; HWC revenue $5.3B, down 9% as-reported (TRANZACT-driven), organic +4%, operating income flat ~$1.7B
- Operating cash flow $1.8B vs $1.5B; free cash flow $1.55B vs $1.27B; capex $229M; share repurchases $1.6B; dividends $358M; $1.3B buyback authority remaining
- Key risks: softening insurance market, tariff/trade uncertainty, macro volatility; Newfront acquisition completed Jan 2026; 2026 capex guided $225M–$250M
Business Overview
- Global advisory, broking and solutions firm (two segments: HWC and R&B) serving 140+ countries; revenue from commissions, fees, and consulting
- Voluntary turnover 9.8% in 2025 vs 10.1% in 2024; ~6,700 hires, down 4% YoY; total workforce ~46,900
- CRB places >$34B of premiums annually; clients include ~93% FTSE 100, 89% Fortune 1000, and 92% Fortune Global 500
- Portfolio optimization strategy emphasized: strategic divestitures of non-core units alongside targeted investment in CRB, health & benefits, and wealth
- Employee share purchase plan expanded to additional countries in 2025; co-head of Corporate Development role formalized via appointment of CFO and Anne Pullum jointly in Oct 2024
Risk Factors
- EU GDPR violations carry fines up to 4% of global annual turnover or €20M; WTW also subject to UK Data Protection Act with uncertain adequacy decision continuity
- Total consolidated debt ~$6.3B as of Dec 31, 2025; interest expense $259M for FY2025, with covenant requirements on EBITDA-to-interest ratios
- Russia/China sanctions exposure: US, EU, UK sanctions on Russia plus escalating US-China trade tensions create compliance risk across WTW's global brokerage operations
- Generative/agentic AI competitors and non-traditional tech entrants threatening to automate actuarial, benchmarking, and modeling work historically outsourced to WTW
- DOL Retirement Security Rule (Apr 2024) expanding ERISA fiduciary definition currently stayed by two federal district courts, underlying litigation ongoing with material uncertainty for WTW's advisory businesses
AI summary of the WTW 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Adjusted operating income $480M vs $419M YoY; margin 19.5% vs 18.5%
- Adjusted EBITDA $529M vs $470M YoY; margin 21.5% vs 20.8%
- Adjusted diluted EPS $3.35 vs $2.86; diluted shares 94M vs 100M
- Operating cash flow $474M vs $326M; free cash flow $360M vs $217M
- Headwinds: higher salary, incentive, benefit, tax, and professional-services costs
Risk Factors
- Newly added AI acceleration risk triggered by Propel, a two-year enterprise AI and automation plan
- Most materially updated execution risk: approximately $625 million cash costs and $25 million non-cash charges through 2028
- Regulatory and compliance exposure from AI errors, privacy issues, intellectual-property challenges and cybersecurity threats
- Operational disruption from workforce restructuring potentially slowing technology enhancements and client responsiveness
- Financial risk: $350 million net run-rate savings target depends on realizing projected benefits by end-2028
AI summary of the WTW 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Exhibits 99.1 and 99.2 furnished under Item 2.02, indicating supplemental earnings materials
- Materials excluded from Section 18 liability and generally not incorporated into registration statements
Item 7.01: Regulation FD Disclosure
- Investor presentation posted for use during WTW’s earnings conference call
- Exhibit 99.2 contains supplemental results and management commentary relevant to investor interpretation
Item 5.07: Submission of Matters to a Vote of Security Holders
- 2026 AGM approved all proposals, with 87,424,851 shares voting, representing 92.8% of outstanding shares
- All nine director nominees elected; Paul Reilly received the largest opposition, with 2,611,803 votes against
Item 7.01: Regulation FD Disclosure
- WTW posted an investor presentation supporting its conference call on fiscal-year 2026 results
- Exhibit 99.2 contains presentation materials investors should review for management’s results commentary and outlook
Item 2.02: Results of Operations and Financial Condition
- Earnings materials furnished under Item 2.02, not deemed filed under Exchange Act Section 18
- Exhibits 99.1 and 99.2 excluded from automatic incorporation into registration statements
AI summaries of WTW 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for WTW
Don't miss the next WTW filing
- Alerts as it files. A push when WTW files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut WTW, by share count.
- Ask anything. An AI agent that reads every WTW filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Clarke Lucy | F | Oct 1, 2026 | 1,916 | $288.23 |
| Krasner Andrew Jay | A | Aug 13, 2026 | 4.21 | - |
| Gebauer Julie Jarecke | A | Aug 13, 2026 | 12.628 | - |
| Hess Carl Aaron | A | Aug 13, 2026 | 53.426 | - |
| Faber Alexis | Sell | Aug 10, 2026 | 730 | $342.70 |
| Kurpis Joseph Stephen | A | Jul 15, 2026 | 1.384 | - |
| Kurpis Joseph Stephen | A | Jul 15, 2026 | 0.614 | - |
| Kurpis Joseph Stephen | A | Jul 15, 2026 | 1.51 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $9.3B | $9.7B | $9.5B |
| Operating Income | $1.4B | $627.0M | $2.2B |
| Net Income | $1.1B | -$98.0M | $1.6B |
| Op. Margin | 14.7% | 6.4% | 23.5% |
| Net Margin | 11.3% | -1.0% | 16.9% |
| Balance Sheet | |||
| Total Assets | - | $27.7B | $29.5B |
| Equity | $9.5B | $7.9B | $8.0B |
| ROE | 11.1% | -1.2% | 20.1% |
| Per Share | |||
| EPS | $9.95 | $-0.96 | $16.26 |
| Cash Flow | |||
| Operating CF | $1.3B | $1.5B | $1.8B |
Source: XBRL data in Willis Towers Watson (WTW)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate WTW share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 36 | $9.32B |
| Q1 2026 | 37 | $10.48B |
| Q4 2025 | 34 | $11.91B |
| Q3 2025 | 38 | $13.45B |
| Q2 2025 | 34 | $12.16B |
| Q1 2025 | 33 | $10.05B |
| Q4 2024 | 29 | $8.69B |
| Q3 2024 | 27 | $3.87B |
- T. Rowe Price Group+711.3K (+70%)
- BlackRock+200.8K (+2%)
- State Street Corp+98.6K (+2%)
- FMR LLC (Fidelity)+62.2K (+3%)
- JPMorgan Chase & Co+51.2K (+19%)
- Citadel Advisors LLC−191.5K (-33%)
- Goldman Sachs Group−166.5K (-18%)
- Invesco Ltd−155.7K (-7%)
- AQR Capital Management−117.4K (-41%)
- Northern Trust−49.8K (-5%)
- D.E. Shaw & Co+3.8K
- Baupost Group−893.1K
- Two Sigma Investments−2.8K
Source: 13F-HR filings on SEC EDGAR (aggregated from 268 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
WTW filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Aug 17, 2026 | - | - | - |
| 4 | Aug 17, 2026 | - | - | - |
| 4 | Aug 17, 2026 | - | - | - |
| SC 13G | Aug 13, 2026 | - | - | |
| 4 | Aug 12, 2026 | - | - | - |
| 10-Q | Jul 30, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 30, 2026 | - | Analysis | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
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WTW SEC filings: frequently asked questions
Are WTW insiders buying or selling?
In the last 90 days, Willis Towers Watson (WTW) officers, directors and 10% owners reported no open-market purchases and 1 open-market sale worth $250,172 by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold WTW stock?
As of June 30, 2026, the largest Willis Towers Watson (WTW) holders among the 13F filers tracked by SignalX were BlackRock ($2.2 billion), Vanguard Capital Management LLC ($1.6 billion), State Street Corp ($1.1 billion), Vanguard Portfolio Management LLC ($1.1 billion), FMR LLC (Fidelity) ($579.2 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was WTW's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Willis Towers Watson (WTW) reported revenue of $9.5 billion (down 2.3% from FY2024) and net income of $1.6 billion. Diluted EPS was $16.26. The figures come from the XBRL data in the 10-K.
What are the main risks in WTW's latest 10-K?
In the 10-K filed February 25, 2026, Willis Towers Watson (WTW) flagged: EU GDPR violations carry fines up to 4% of global annual turnover or €20M; WTW also subject to UK Data Protection Act with uncertain adequacy decision continuity. Total consolidated debt ~$6.3B as of Dec 31, 2025; interest expense $259M for FY2025, with covenant requirements on EBITDA-to-interest ratios. (AI summary of the Risk Factors section.)
What did WTW report in its latest 8-K?
Willis Towers Watson (WTW) filed an 8-K on July 30, 2026 reporting Item 2.02 (Results of Operations and Financial Condition) and Item 7.01 (Regulation FD Disclosure). Exhibits 99.1 and 99.2 furnished under Item 2.02, indicating supplemental earnings materials.
What are the latest WTW SEC filings?
Willis Towers Watson (WTW) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on July 30, 2026 and a Form 4 insider filing on October 5, 2026.
What is WTW's SEC CIK number?
Willis Towers Watson (WTW)'s SEC Central Index Key (CIK) is 1140536. EDGAR lists every WTW filing under that number.
Ask anything about WTW
The research agent reads WTW's filings, financials, insider trades and 13F holders, then answers with sources.