Willis Towers Watson (WTW) Operating Expenses (2009 - 2026)
Willis Towers Watson (WTW) posted Operating Expenses of $2.0 billion for Q1 2026, up 2.29% on a QoQ basis from $1.9 billion in Q4 2025, and up 9.66% year-over-year from $1.8 billion in Q1 2025.
Willis Towers Watson (WTW) Operating Expenses (2009 - 2026) Analysis & Trends
Willis Towers Watson's Operating Expenses history runs 18 years deep, the most recent figure standing at $2.0 billion for Q1 2026.
- Quarterly Operating Expenses rose 9.66% year-over-year to $2.0 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $7.6 billion (down 15.34% YoY) and the FY2025 annual result came in at $7.5 billion, down 19.66% from the prior year.
- Operating Expenses was $2.0 billion for Q1 2026 at Willis Towers Watson, up from $1.9 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $3.1 billion in Q3 2024 and bottomed at $1.8 billion in Q1 2025.
- A 5-year average of $2.0 billion and a median of $2.0 billion in 2022 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses surged 113.66% — and 2025, when it slumped 38.79%.
- Willis Towers Watson's Operating Expenses stood at $2.0 billion in 2022, then advanced by 6.01% to $2.1 billion in 2023, then dropped by 0.05% to $2.1 billion in 2024, then declined by 10.03% to $1.9 billion in 2025, then rose by 2.29% to $2.0 billion in 2026.
- Business Quant data shows WTW's Operating Expenses at $2.0 billion in Q1 2026, $1.9 billion in Q4 2025, and $1.9 billion in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Marsh & Mclennan Companies | 84.27 Bn | 72.32 Bn | 6.04 Bn | 5.51 Bn |
| 2 | Aon | 75.99 Bn | 74.60 Bn | - | 3.32 Bn |
| 3 | Arthur J. Gallagher | 62.23 Bn | 60.85 Bn | - | 643.00 Mn |
| 4 | Willis Towers Watson | 27.24 Bn | 25.46 Bn | 1.98 Bn | 1.96 Bn |
| 5 | Brown & Brown | 23.60 Bn | 22.62 Bn | 1.61 Bn | 1.37 Bn |
| 6 | Neptune Insurance Holdings | 4.12 Bn | 4.11 Bn | 26.44 Mn | 24.35 Mn |
| 7 | Accelerant Holdings | 3.06 Bn | 1.55 Bn | 48.00 Mn | 271.30 Mn |
| 8 | Corvel | 3.03 Bn | 2.68 Bn | 54.92 Mn | 22.68 Mn |
| 9 | Baldwin Insurance | 2.43 Bn | 2.87 Bn | - | 633.50 Mn |
| 10 | Goosehead Insurance | 1.31 Bn | 1.20 Bn | - | 86.80 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.96 Bn |
| Dec 31, 2025 | 1.92 Bn |
| Sep 30, 2025 | 1.87 Bn |
| Jun 30, 2025 | 1.89 Bn |
| Mar 31, 2025 | 1.79 Bn |
| Dec 31, 2024 | 2.13 Bn |
| Sep 30, 2024 | 3.06 Bn |
| Jun 30, 2024 | 2.05 Bn |
| Mar 31, 2024 | 2.06 Bn |
| Dec 31, 2023 | 2.14 Bn |
| Sep 30, 2023 | 2.01 Bn |
| Jun 30, 2023 | 2.02 Bn |
| Mar 31, 2023 | 1.96 Bn |
| Dec 31, 2022 | 2.01 Bn |
| Sep 30, 2022 | 1.80 Bn |
| Jun 30, 2022 | 1.89 Bn |
| Mar 31, 2022 | 1.98 Bn |
| Dec 31, 2021 | 2.02 Bn |
| Sep 30, 2021 | 842.00 Mn |
| Jun 30, 2021 | 1.92 Bn |