Willis Towers Watson (WTW) Operating Expenses (2009 - 2026)
Willis Towers Watson posted quarterly Operating Expenses of $2.0 billion for Q1 2026, up 9.66% year-on-year from $1.8 billion in Q1 2025, and up 2.29% on a QoQ basis from $1.9 billion in Q4 2025.
Willis Towers Watson (WTW) has 18 years of Operating Expenses data on file, last reported at $2.0 billion in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 9.66% year-over-year to $2.0 billion; the trailing twelve-month figure through Mar 2026 stood at $7.6 billion (down 15.34% YoY), and the FY2025 full-year result was $7.5 billion, down 19.66% from the prior year.
- Operating Expenses for Q1 2026 stood at $2.0 billion, 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.
- The 5-year median for Operating Expenses is $2.0 billion (2022), against an average of $2.0 billion.
- The widest annual swing landed in 2022, when Operating Expenses surged 113.66%; it then sank 38.79% in 2025.
- A 5-year view of Operating Expenses shows it stood at $2.0 billion in 2022, then gained by 6.01% to $2.1 billion in 2023, then slipped by 0.05% to $2.1 billion in 2024, then dropped by 10.03% to $1.9 billion in 2025, then increased by 2.29% to $2.0 billion in 2026.
- The last three Operating Expenses figures came in at $2.0 billion (Q1 2026), $1.9 billion (Q4 2025), and $1.9 billion (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Aon | 69.60 Bn | 68.21 Bn | - | 3.32 Bn |
| 2 | Arthur J. Gallagher | 52.64 Bn | 51.26 Bn | - | 3.72 Bn |
| 3 | Willis Towers Watson | 24.45 Bn | 22.68 Bn | 1.98 Bn | 1.96 Bn |
| 4 | Brown & Brown | 19.37 Bn | 18.39 Bn | 1.61 Bn | 17.00 Mn |
| 5 | XChange TEC.INC | 6.95 Bn | 6.95 Bn | - | - |
| 6 | Accelerant Holdings | 3.83 Bn | 2.32 Bn | 48.00 Mn | 271.30 Mn |
| 7 | Corvel | 3.22 Bn | 2.87 Bn | 54.92 Mn | 22.68 Mn |
| 8 | Baldwin Insurance | 1.84 Bn | 2.28 Bn | - | 633.50 Mn |
| 9 | Goosehead Insurance | 1.01 Bn | 899.53 Mn | - | 78.08 Mn |
| 10 | Twfg | 279.02 Mn | 351.22 Mn | - | 60.49 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 |
| Mar 31, 2021 | 2.02 Bn |
| Dec 31, 2020 | 2.09 Bn |
| Sep 30, 2020 | 1.83 Bn |
| Jun 30, 2020 | 1.85 Bn |
| Mar 31, 2020 | 1.98 Bn |
| Dec 31, 2019 | 2.00 Bn |
| Sep 30, 2019 | 1.88 Bn |
| Jun 30, 2019 | 1.87 Bn |
| Mar 31, 2019 | 1.95 Bn |
| Dec 31, 2018 | 1.90 Bn |
| Sep 30, 2018 | 1.84 Bn |
| Jun 30, 2018 | 1.93 Bn |
| Mar 31, 2018 | 2.03 Bn |
| Dec 31, 2017 | 2.00 Bn |
| Sep 30, 2017 | 1.88 Bn |
| Jun 30, 2017 | 1.89 Bn |
| Mar 31, 2017 | 1.92 Bn |
| Dec 31, 2016 | 1.84 Bn |
| Sep 30, 2016 | 1.78 Bn |
| Jun 30, 2016 | 1.81 Bn |
| Mar 31, 2016 | 1.91 Bn |
| Dec 31, 2015 | 972.00 Mn |
| Sep 30, 2015 | 819.00 Mn |
| Jun 30, 2015 | 817.00 Mn |
| Mar 31, 2015 | 794.00 Mn |
| Dec 31, 2014 | 819.00 Mn |
| Sep 30, 2014 | 778.00 Mn |
| Jun 30, 2014 | 787.00 Mn |
| Mar 31, 2014 | 771.00 Mn |
| Dec 31, 2013 | 774.00 Mn |
| Sep 30, 2013 | 725.00 Mn |
| Jun 30, 2013 | 723.00 Mn |
| Mar 31, 2013 | 770.00 Mn |
| Dec 31, 2012 | 1.65 Bn |
| Sep 30, 2012 | 684.00 Mn |
| Jun 30, 2012 | 663.00 Mn |
| Mar 31, 2012 | 696.00 Mn |
| Dec 31, 2011 | 738.00 Mn |
| Sep 30, 2011 | 670.00 Mn |
| Jun 30, 2011 | 705.00 Mn |
| Mar 31, 2011 | 768.00 Mn |
| Dec 31, 2010 | 651.00 Mn |
| Sep 30, 2010 | 627.00 Mn |
| Jun 30, 2010 | 630.00 Mn |
| Sep 30, 2009 | 643.00 Mn |
| Jun 30, 2009 | 619.00 Mn |