Willis Towers Watson Public Limited Company (NASDAQ: WTW) shares advanced 5.60% on Tuesday as the company reported its full-year 2025 financial results. The stock closed at $334.34 following the disclosure of annual organic revenue growth and operating margin expansion.
WTW reported full year 2025 consolidated revenue of $9.71 billion, representing a 2% decrease from $9.93 billion in 2024. On an organic basis, annual revenue increased 5%. Net income for the full year 2025 totaled $1.61 billion, compared to a net loss of $88 million in the previous fiscal year. Adjusted diluted earnings per share for 2025 were $17.08, a 5% increase from $16.27 in 2024.
The adjusted operating margin for the fiscal year expanded by 130 basis points to 25.2%. Segment performance indicated that Risk & Broking achieved 10% reported revenue growth for the year, while Health, Wealth & Career revenue declined on a reported basis due to divestitures but maintained organic growth.
Fourth Quarter Results
For the fourth quarter ended December 31, 2025, consolidated revenue was $2.94 billion, a 3% decrease from $3.04 billion in the fourth quarter of 2024. Organic revenue, which excludes the impact of foreign currency and divestitures, grew 6% for the period. Net income for the quarter was $736 million, compared with $1.25 billion in the prior-year quarter.
Segment highlights for the quarter:
- Health, Wealth & Career: Revenue reached $1.65 billion, a decrease of 11% on a reported basis but a 6% increase on an organic basis. Operating margin for the segment expanded to 44.3%.
- Risk & Broking: Revenue totaled $1.25 billion, an increase of 10% on a reported basis and 7% on an organic basis. Operating margin for the segment increased to 34.7%.
Financial Trends
Business & Operations Update
During the 2025 fiscal year, WTW repurchased $1.65 billion of its common stock. The company executed operational restructuring related to its Transformation program, which focused on cost management and process simplification. Regulatory disclosures indicate the completion of the TRANZACT divestiture process in early 2026, following the strategic review initiated in 2025.
M&A or Strategic Moves
WTW finalized the acquisition of Newfront on January 27, 2026. This transaction follows the previously announced divestiture of its TRANZACT business. The company also integrated Cushion and Flowstone Partners into its portfolio during the reporting period to expand its specialized advisory capabilities.
Guidance & Outlook
For the 2026 fiscal year, management has indicated a target for share repurchases of at least $1 billion. The company stated it will monitor the impact of the Newfront integration and the Willis Re joint venture termination. Revenue from the Newfront acquisition is estimated at $250 million for 2026, with an expected dilutive effect of $0.10 on adjusted earnings per share in the first year.
Performance Summary
WTW shares gained 5.60% at the close of trading. Full year 2025 organic revenue grew 5%. Annual adjusted operating margins expanded to 25.2%. Segment signals remain focused on Risk & Broking growth and capital allocation through repurchases.
