Cash Flow Statement
Growth Metrics

Willis Towers Watson (WTW) Cost of Revenue (2009 - 2026)

Willis Towers Watson posted quarterly Cost of Revenue of $385.0 million for Q1 2026, up 5.48% year-on-year from $365.0 million in Q1 2025, and up 8.45% on a QoQ basis from $355.0 million in Q4 2025.

Willis Towers Watson (WTW) has 18 years of Cost of Revenue data on file, last reported at $385.0 million in Q1 2026.

  • For the quarter ending Q1 2026, Cost of Revenue rose 5.48% year-over-year to $385.0 million; the trailing twelve-month figure through Mar 2026 stood at $1.4 billion (down 17.98% YoY), and the FY2025 full-year result was $1.4 billion, down 23.19% from the prior year.
  • Cost of Revenue for Q1 2026 stood at $385.0 million, up from $355.0 million in the prior quarter.
  • Across five years, Cost of Revenue topped out at $533.0 million in Q4 2023 and bottomed at $336.0 million in Q2 2025.
  • The 5-year median for Cost of Revenue is $419.0 million (2024), against an average of $419.8 million.
  • The widest annual swing landed in 2023, when Cost of Revenue gained 23.38%; it then plunged 31.47% in 2025.
  • A 5-year view of Cost of Revenue shows it stood at $432.0 million in 2022, then increased by 23.38% to $533.0 million in 2023, then dropped by 2.81% to $518.0 million in 2024, then tumbled by 31.47% to $355.0 million in 2025, then rose by 8.45% to $385.0 million in 2026.
  • The last three Cost of Revenue figures came in at $385.0 million (Q1 2026), $355.0 million (Q4 2025), and $352.0 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Aon 69.60 Bn 68.21 Bn - -
2 Arthur J. Gallagher 52.64 Bn 51.26 Bn - -
3 Willis Towers Watson 24.45 Bn 22.68 Bn 1.98 Bn 385.00 Mn
4 Brown & Brown 19.37 Bn 18.39 Bn 1.61 Bn 289.00 Mn
5 XChange TEC.INC 6.95 Bn 6.95 Bn - -
6 Accelerant Holdings 3.83 Bn 2.32 Bn 48.00 Mn 81.80 Mn
7 Corvel 3.22 Bn 2.87 Bn 54.92 Mn 180.71 Mn
8 Baldwin Insurance 1.84 Bn 2.28 Bn - -
9 Goosehead Insurance 1.01 Bn 899.53 Mn - -
10 Twfg 279.02 Mn 351.22 Mn - -

Historic Data

Download Data 🔒
DateValue
Mar 31, 2026 385.00 Mn
Mar 31, 2026 385.00 Mn
Dec 31, 2025 355.00 Mn
Dec 31, 2025 355.00 Mn
Sep 30, 2025 352.00 Mn
Sep 30, 2025 352.00 Mn
Jun 30, 2025 336.00 Mn
Jun 30, 2025 336.00 Mn
Mar 31, 2025 365.00 Mn
Mar 31, 2025 365.00 Mn
Dec 31, 2024 518.00 Mn
Dec 31, 2024 518.00 Mn
Sep 30, 2024 419.00 Mn
Sep 30, 2024 419.00 Mn
Jun 30, 2024 439.00 Mn
Jun 30, 2024 439.00 Mn
Mar 31, 2024 457.00 Mn
Mar 31, 2024 457.00 Mn
Dec 31, 2023 533.00 Mn
Dec 31, 2023 533.00 Mn
Sep 30, 2023 396.00 Mn
Sep 30, 2023 396.00 Mn
Jun 30, 2023 433.00 Mn
Jun 30, 2023 433.00 Mn
Mar 31, 2023 453.00 Mn
Mar 31, 2023 453.00 Mn
Dec 31, 2022 432.00 Mn
Dec 31, 2022 432.00 Mn
Sep 30, 2022 384.00 Mn
Sep 30, 2022 384.00 Mn
Jun 30, 2022 393.00 Mn
Jun 30, 2022 393.00 Mn
Mar 31, 2022 486.00 Mn
Mar 31, 2022 486.00 Mn
Dec 31, 2021 504.00 Mn
Dec 31, 2021 504.00 Mn
Sep 30, 2021 385.00 Mn
Sep 30, 2021 385.00 Mn
Jun 30, 2021 384.00 Mn
Jun 30, 2021 384.00 Mn
Mar 31, 2021 400.00 Mn
Mar 31, 2021 400.00 Mn
Dec 31, 2020 487.00 Mn
Dec 31, 2020 487.00 Mn
Sep 30, 2020 370.00 Mn
Sep 30, 2020 370.00 Mn
Jun 30, 2020 387.00 Mn
Jun 30, 2020 387.00 Mn
Mar 31, 2020 484.00 Mn
Mar 31, 2020 484.00 Mn
Dec 31, 2019 400.00 Mn
Dec 31, 2019 400.00 Mn
Sep 30, 2019 417.00 Mn
Sep 30, 2019 417.00 Mn
Jun 30, 2019 412.00 Mn
Jun 30, 2019 412.00 Mn
Mar 31, 2019 418.00 Mn
Mar 31, 2019 418.00 Mn
Dec 31, 2018 434.00 Mn
Dec 31, 2018 434.00 Mn
Sep 30, 2018 374.00 Mn
Sep 30, 2018 374.00 Mn
Jun 30, 2018 406.00 Mn
Jun 30, 2018 406.00 Mn
Mar 31, 2018 423.00 Mn
Mar 31, 2018 423.00 Mn
Dec 31, 2017 376.00 Mn
Dec 31, 2017 376.00 Mn
Sep 30, 2017 366.00 Mn
Sep 30, 2017 366.00 Mn
Jun 30, 2017 391.00 Mn
Jun 30, 2017 391.00 Mn
Mar 31, 2017 401.00 Mn
Mar 31, 2017 401.00 Mn
Dec 31, 2016 380.00 Mn
Dec 31, 2016 380.00 Mn
Sep 30, 2016 370.00 Mn
Sep 30, 2016 370.00 Mn
Jun 30, 2016 373.00 Mn
Jun 30, 2016 373.00 Mn
Mar 31, 2016 431.00 Mn
Mar 31, 2016 431.00 Mn
Dec 31, 2015 202.00 Mn
Dec 31, 2015 202.00 Mn
Sep 30, 2015 177.00 Mn
Sep 30, 2015 177.00 Mn
Jun 30, 2015 179.00 Mn
Jun 30, 2015 179.00 Mn
Mar 31, 2015 160.00 Mn
Mar 31, 2015 160.00 Mn
Dec 31, 2014 165.00 Mn
Dec 31, 2014 165.00 Mn
Sep 30, 2014 156.00 Mn
Sep 30, 2014 156.00 Mn
Jun 30, 2014 173.00 Mn
Jun 30, 2014 173.00 Mn
Mar 31, 2014 165.00 Mn
Mar 31, 2014 165.00 Mn
Dec 31, 2013 166.00 Mn
Dec 31, 2013 166.00 Mn
Sep 30, 2013 149.00 Mn
Sep 30, 2013 149.00 Mn
Jun 30, 2013 159.00 Mn
Jun 30, 2013 159.00 Mn
Mar 31, 2013 162.00 Mn
Mar 31, 2013 162.00 Mn
Dec 31, 2012 169.00 Mn
Dec 31, 2012 169.00 Mn
Sep 30, 2012 146.00 Mn
Sep 30, 2012 146.00 Mn
Jun 30, 2012 129.00 Mn
Jun 30, 2012 129.00 Mn
Mar 31, 2012 156.00 Mn
Mar 31, 2012 156.00 Mn
Dec 31, 2011 194.00 Mn
Dec 31, 2011 194.00 Mn
Sep 30, 2011 146.00 Mn
Sep 30, 2011 146.00 Mn
Jun 30, 2011 164.00 Mn
Jun 30, 2011 164.00 Mn
Mar 31, 2011 152.00 Mn
Mar 31, 2011 152.00 Mn
Dec 31, 2010 151.00 Mn
Dec 31, 2010 151.00 Mn
Sep 30, 2010 129.00 Mn
Sep 30, 2010 129.00 Mn
Jun 30, 2010 135.00 Mn
Jun 30, 2010 135.00 Mn
Sep 30, 2009 151.00 Mn
Sep 30, 2009 151.00 Mn
Jun 30, 2009 139.00 Mn
Jun 30, 2009 139.00 Mn