WILLIS TOWERS WATSON PLC (WTW) closed fiscal year 2025 with a gross margin of 42.1 % and a net margin of 16.5 %.
WILLIS TOWERS WATSON PLC (WTW) closed fiscal year 2025 with a gross margin of 42.1 % and a net margin of 16.5 %. The same year shows an EBITDA margin of 27.3 % and an EBIT margin of 23.0 %. The free cash flow margin was 15.9 %. Against the previous year the gross margin moved −2.5 pp and the net margin +17.5 pp. Across the period the gross margin ranges between 42.1 % in 2025 and 44.6 % in 2024. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 42.87 % | 43.65 % | 44.59 % | 42.06 % |
| EBITDA margin (%) | 19.70 % | 26.25 % | 26.95 % | 20.54 % | -4.20 % | 22.22 % | 20.86 % | 15.62 % | 14.16 % | 16.45 % | 23.47 % | 26.39 % | 23.87 % | 36.71 % | 24.27 % | 24.37 % | 10.91 % | 27.32 % |
| EBIT margin (%) | 17.79 % | 21.21 % | 22.60 % | 16.42 % | -6.47 % | 18.14 % | 17.02 % | 11.15 % | 4.41 % | 6.29 % | 9.50 % | 12.59 % | 9.97 % | 24.47 % | 13.29 % | 14.39 % | 6.31 % | 23.01 % |
| Net margin (%) | 10.72 % | 13.46 % | 13.66 % | 5.92 % | -12.82 % | 9.99 % | 9.52 % | 9.74 % | 5.33 % | 6.93 % | 8.16 % | 12.47 % | 11.56 % | 46.92 % | 11.38 % | 11.13 % | -0.99 % | 16.53 % |
| FCF margin (%) | 5.62 % | 9.93 % | 12.18 % | 9.52 % | 11.21 % | 12.28 % | 9.57 % | 2.56 % | 9.07 % | 6.85 % | 11.98 % | — | — | — | 6.86 % | 11.63 % | 12.76 % | 15.93 % |
