Willis Towers Watson Plc
Willis Towers Watson Plc returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 14.85% | 15.01% | 117.94% | 19.83% | 5.3% | 7.1 pp |
| FY 2026 Q1 | Mar 31, 2026 | 15.42% | 14.62% | — | 20.7% | 5.78% | 7.7 pp |
| FY 2025 Q4 | Dec 31, 2025 | 16.51% | 14.6% | — | 20.17% | 5.61% | 8.8 pp |
| FY 2025 Q3 | Sep 30, 2025 | 14.76% | 14.7% | — | 27.79% | 7.75% | 7.1 pp |
| FY 2025 Q2 | Jun 30, 2025 | 3.57% | 5.93% | — | 1.57% | 0.47% | -4.1 pp |
| FY 2025 Q1 | Mar 31, 2025 | — | 4.9% | — | -0.6% | -0.18% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 3.98% | — | -1.12% | -0.35% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | 3.26% | — | -8.54% | -2.64% | — |
| FY 2024 Q2 | Jun 30, 2024 | 8.79% | 8.47% | — | 11.38% | 3.73% | 1.1 pp |
| FY 2024 Q1 | Mar 31, 2024 | 8.26% | 7.97% | — | 10.64% | 3.35% | 0.6 pp |
| FY 2023 Q4 | Dec 31, 2023 | 8.43% | 8.16% | — | 10.8% | 3.47% | 0.7 pp |
| FY 2023 Q3 | Sep 30, 2023 | 7.98% | 7.8% | 31.55% | 10.61% | 3.48% | 0.3 pp |
| FY 2023 Q2 | Jun 30, 2023 | 8.05% | 7.45% | -114.33% | 10.68% | 3.51% | 0.3 pp |
| FY 2023 Q1 | Mar 31, 2023 | 8.04% | 7.35% | -202.32% | 10.33% | 3.37% | 0.3 pp |
| FY 2022 Q4 | Dec 31, 2022 | 7.39% | 6.33% | -536.52% | 8.67% | 3.02% | -0.3 pp |
| FY 2022 Q3 | Sep 30, 2022 | 7.11% | 6.53% | — | 26.59% | 8.27% | -0.6 pp |
| FY 2022 Q2 | Jun 30, 2022 | 12.09% | 11.58% | — | 32.14% | 9.99% | 4.4 pp |
| FY 2022 Q1 | Mar 31, 2022 | 12.25% | 12.04% | — | 32.06% | 10.1% | 4.5 pp |
| FY 2021 Q4 | Dec 31, 2021 | 12.65% | 11.16% | — | 35.07% | 11.49% | 4.9 pp |
| FY 2021 Q3 | Sep 30, 2021 | 13.61% | 12.92% | — | 20.96% | 6.1% | 5.9 pp |
| FY 2021 Q2 | Jun 30, 2021 | 7.48% | 7.14% | — | 13.76% | 3.96% | -0.2 pp |
| FY 2021 Q1 | Mar 31, 2021 | 6.83% | 6.55% | — | 13.07% | 3.73% | -0.9 pp |
| FY 2020 Q4 | Dec 31, 2020 | 6.1% | 6.14% | — | 9.45% | 2.69% | -1.6 pp |
| FY 2020 Q3 | Sep 30, 2020 | 6.69% | 6.79% | — | 10.43% | 2.89% | -1 pp |
| FY 2020 Q2 | Jun 30, 2020 | 7.12% | 7.11% | 16.92% | 9.97% | 2.78% | -0.6 pp |
| FY 2020 Q1 | Mar 31, 2020 | 7.34% | 7.12% | 22.18% | 10.43% | 2.89% | -0.4 pp |
| FY 2019 Q4 | Dec 31, 2019 | 7.54% | 7.29% | 25.16% | 10.39% | 3.08% | -0.2 pp |
| FY 2019 Q3 | Sep 30, 2019 | 6.19% | 6.1% | — | 8.81% | 2.55% | -1.5 pp |
| FY 2019 Q2 | Jun 30, 2019 | 6% | 5.71% | — | 8.34% | 2.44% | -1.7 pp |
| FY 2019 Q1 | Mar 31, 2019 | 5.33% | 4.96% | — | 7.39% | 2.19% | -2.4 pp |
| FY 2018 Q4 | Dec 31, 2018 | 4.99% | 4.65% | — | 6.96% | 2.14% | -2.7 pp |
| FY 2018 Q3 | Sep 30, 2018 | — | 2.55% | — | 5.63% | 1.72% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 2.66% | — | 4.53% | 1.39% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | 2.96% | — | 4.19% | 1.32% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | 4.27% | — | 5.63% | 1.81% | — |
| FY 2017 Q3 | Sep 30, 2017 | — | 4.06% | — | 4.5% | 1.45% | — |
| FY 2017 Q2 | Jun 30, 2017 | — | 3.78% | — | 4.57% | 1.49% | — |
| FY 2017 Q1 | Mar 31, 2017 | — | 3.88% | — | 4.91% | 1.61% | — |
| FY 2016 Q4 | Dec 31, 2016 | — | 4.81% | — | 6.83% | 1.71% | — |
| FY 2016 Q3 | Sep 30, 2016 | 4.77% | 3.95% | — | 3.86% | 1.02% | -2.9 pp |
| FY 2016 Q2 | Jun 30, 2016 | — | 4.12% | — | 6% | 1.59% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | 3.94% | — | 5.96% | 1.63% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | 7.6% | — | 17.7% | 2.18% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | 10.13% | — | 20.34% | 2.86% | — |
| FY 2015 Q2 | Jun 30, 2015 | 10.06% | 10.03% | -10.63% | 14.43% | 2% | 2.4 pp |
| FY 2015 Q1 | Mar 31, 2015 | 10.23% | 11.05% | -209.07% | 13.76% | 2.04% | 2.5 pp |
| FY 2014 Q4 | Dec 31, 2014 | 12.03% | 12.29% | — | 17.24% | 2.39% | 4.3 pp |
| FY 2014 Q3 | Sep 30, 2014 | 12.17% | 12.99% | — | 16.53% | 2.32% | 4.5 pp |
| FY 2014 Q2 | Jun 30, 2014 | 12.15% | 13.33% | — | 15.11% | 2.06% | 4.5 pp |
| FY 2014 Q1 | Mar 31, 2014 | 14.07% | 13.84% | — | 18.2% | 2.48% | 6.4 pp |
| FY 2013 Q4 | Dec 31, 2013 | 14.08% | 13.37% | — | 18.65% | 2.44% | 6.4 pp |
| FY 2013 Q3 | Sep 30, 2013 | — | -4.36% | — | -21.63% | -3.14% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | -4.44% | — | -19.51% | -2.71% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | -4.29% | — | -19.91% | -2.75% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | -3.92% | — | -21.31% | -2.89% | — |
| FY 2012 Q3 | Sep 30, 2012 | — | — | — | 14.32% | 2.28% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | — | — | 15.5% | 2.35% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | — | — | 14.89% | 2.3% | — |
| FY 2011 Q4 | Dec 31, 2011 | 10.88% | 10.04% | — | 8.06% | 1.29% | 3.2 pp |
| FY 2011 Q3 | Sep 30, 2011 | 11.47% | — | — | 10.74% | 1.71% | 3.8 pp |
| FY 2011 Q2 | Jun 30, 2011 | 11.45% | — | — | 11% | 1.61% | 3.8 pp |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | — | — | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · WTW, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.