CluenexWillis Towers Watson WTW
Willis Towers Watson scores average on business quality (5.4 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Willis Towers Watson does
Willis Towers Watson makes money by selling risk management, insurance brokerage, and actuarial consulting to corporate clients globally. Enterprises pay fees and commissions to secure specialized coverage and employee benefit advisory.
- What it does best
Willis Towers Watson excels at turning advisory relationships into sticky insurance commissions, generating an operating margin of 23.5%. This high margin proves hard to copy because corporate clients face steep switching costs when moving complex enterprise benefit plans to a new broker.
- The main risk
Commercial property rates are posting their sharpest decline in a decade according to company reports, which directly threatens the commission revenue derived from insurance brokerage pricing power.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin stands at 23.5% and free cash flow margin sits in the top quartile of its sector at 39%. Profitability is expanding through disciplined cost control, meaning the business generates more cash as it scales.
The moat relies on enterprise switching costs that lock in corporate clients for employee benefits advisory. Return on equity sits in the top quartile at 20%, reflecting competitive advantages that rivals struggle to replicate quickly.
Revenue growth sits at -2.2%, contracting slightly compared to historical annual figures where top-line gains were positive. The revenue engine is fading against its own history.
Total debt sits at $6.3 billion against $3.2 billion in cash, supported by an interest coverage ratio of 8.3x where debt servicing costs are manageable. Free cash flow reached $1.7 billion, showing the balance sheet is getting stronger.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
1 sold $250K outside pre-planned sales.
Our sealed record on WTW
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Willis Towers Watson scores average on the Cluenex quality check (5.4 of 10), measured against its own industry. Profitability is fair, moat fair, growth slow and financial health strong.
In the last 90 days of SEC Form 4 filings: 1 sold $250K outside pre-planned sales.
Oct 29, 2026, before the open.
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Cite this page: Cluenex, “Willis Towers Watson (WTW)”, https://cluenex.com/stocks/wtw/, data as of Oct 10, 2026.