Short answer
Willis Towers Watson (WTW) filed its Q3 2025 10-Q quarterly report on Oct 30, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $2.2B (up 0.1% year over year) with net income of $304M.
Q3 2025 key financials · XBRL
- Revenue
- $2.2B
- +0.1% YoY · +1.1% QoQ
- Net income
- $304M
- +118.1% YoY · −8.2% QoQ
- Operating margin
- 18.7%
- EPS (diluted)
- $3.10
- +119.0% YoY · −6.3% QoQ
Source: XBRL data from the Willis Towers Watson (WTW) Q3 2025 10-Q on SEC EDGAR. USD.
Willis Towers Watson Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $2.29B Q3 2025 vs $2.29B Q3 2024 (flat as-reported), organic growth 5% Q3, 5% YTD; YTD revenue $6.77B vs $6.9B prior year (-2%)
- Operating income $418M Q3 2025 vs loss $766M Q3 2024; operating margin 18.3% Q3 2025 vs -33.5% Q3 2024; adjusted operating margin 20.4% Q3 2025 vs 18.1% Q3 2024
- Best segment: Risk & Broking with organic revenue growth 6% Q3 and segment operating income $189M Q3 2025 vs $170M prior year; Worst: Health, Wealth & Career down 5% as-reported, operating income $361M Q3 2025 vs $329M prior year
- Cash from operations $1.0B YTD 2025 vs $913M prior year; share repurchases $1.3B YTD with $1.6B authorization remaining; capital expenditures $166M YTD 2025 with $60-85M expected remainder 2025
- Management sees softening insurance market, ongoing macroeconomic volatility; zero revenue guidance update but highlights focus on technology investment and risk mitigation amid uncertainties
Risk Factors
- No material changes in risk factors from 10-K dated February 25, 2025
- Carry-forward risk: exposure to cybersecurity threats affecting client data protection
- Carry-forward risk: competitive pressures in insurance brokerage and consulting sectors
- Carry-forward financial risk: potential impacts from currency fluctuations on global earnings
- Carry-forward regulatory risk: compliance with evolving insurance and financial services regulations
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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