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How Willis Towers Watson (WTW) makes money
Willis Towers Watson (WTW) made $2.5B of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Health Wealth and Career brought in $1.4B (56%); Risk and Broking brought in $1.1B (44%). Of every dollar of revenue, 17¢ was left as operating profit, 12¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Health Wealth and Career | $1.4B | 55.7% | +6% | +7% |
| Risk and Broking | $1.1B | 44.3% | -7% | +8% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $2.5B | 100.0% |
| Operating profit | $429M | 17.4% |
| Income tax | $79.0M | 3.2% |
| Net earnings | $303M | 12.3% |
| Operating cash flow | $739M | 30.0% |
| Free cash flow | $675M | 27.4% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $2.5B | +8% |
| Q2 2026 | $2.5B | +9% |
| Q1 2026 | $2.4B | +8% |
| Q4 2025 | $2.9B | -3% |
| Q3 2025 | $2.3B | 0% |
| Q2 2025 | $2.3B | -0.2% |
| Q1 2025 | $2.2B | -5% |
From Willis Towers Watson's 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Willis Towers Watson make money?
Willis Towers Watson (WTW) made $2.5B of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Health Wealth and Career brought in $1.4B (56%); Risk and Broking brought in $1.1B (44%). Of every dollar of revenue, 17¢ was left as operating profit, 12¢ was left as net earnings.
What is Willis Towers Watson's biggest business?
Health Wealth and Career: $1.4B in the third quarter 2026, 56% of revenue, +7% from a year earlier.
What is Willis Towers Watson's profit margin?
Net earnings were $303M, 12.3% of revenue, in the third quarter 2026; the operating margin was 17.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.