Filing Flows › Comparisons › AON vs WTW
Aon vs Willis Towers Watson: AON and WTW compared
Aon is the larger company: $4.1B of revenue in its latest quarter (Q3 2026) against $2.5B for Willis Towers Watson (Q3 2026). Willis Towers Watson is growing faster (+8% against +3% a year earlier). Aon is more profitable, with an operating margin of 19.7% against 17.4%.
Where the money goes: AON and WTW
Aon (AON) · Q3 2026
Aon, Q3 2026: revenue $4.1B (+3% year over year), operating margin 19.7%, net earnings $476M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
Willis Towers Watson (WTW) · Q3 2026
Willis Towers Watson, Q3 2026: revenue $2.5B (+8% year over year), operating margin 17.4%, net earnings $303M, operating cash flow $739M. The chart follows the revenue to costs, profit and cash.
| Aon (AON) | Willis Towers Watson (WTW) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $4.1B | $2.5B |
| Revenue growth, Y/Y | +3% | +8% |
| Operating margin | 19.7% | 17.4% |
| Net earnings | $476M | $303M |
| Net margin | 11.6% | 12.3% |
| Operating cash flow | $1.2B | $739M |
| Free cash flow | $1.1B | $675M |
| Market value | $73.4B | $31.0B |
| P/E | 18.9× | 20.3× |
| Analysts’ mean target | $363.21 | $372.68 |
Where the revenue comes from
Willis Towers Watson
- Health Wealth and Career: $1.4B (56%)
- Risk and Broking: $1.1B (44%)
Questions
Which is bigger, Aon or Willis Towers Watson?
Aon is the larger company: $4.1B of revenue in its latest quarter (Q3 2026) against $2.5B for Willis Towers Watson (Q3 2026).
Is Aon or Willis Towers Watson growing faster?
Willis Towers Watson is growing faster (+8% against +3% a year earlier).
Which is more profitable, Aon or Willis Towers Watson?
Aon is more profitable, with an operating margin of 19.7% against 17.4%.
More: Aon earnings · how Aon makes money · Willis Towers Watson earnings · how Willis Towers Watson makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.