--- title: Willis Towers Watson (WTW) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/wtw ticker: WTW as_of: 2026-10-17 sector: Financial Services industry: Insurance - Brokers --- # Willis Towers Watson (WTW) Willis Towers Watson (WTW) closed at $315.49 on Oct 16, 2026, undervalued by 41% vs its model value of $537.60 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $315.49 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $537.60 | | Price vs model | undervalued by 41% vs model | | Range of that model | $307.68 – $1,442.23 | | Market value | $29.3B | | P/E (fiscal 2025) | 19.4 | | Net margin (fiscal 2025) | 16.5% | | Free cash flow (fiscal 2025) | $1.5B | | Dividend yield (trailing twelve months) | 1.20% | | Beta | 0.42 | | Cost of capital (WACC) | 7.02% | | Business classification | Mature & Stable (Low/slowing growth (~1% recent), Moderate margins (17% net margin), Pays dividends, Highly cyclical earnings, Strong FCF yield (5.3%)) | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 1.20% | | Dividends per share, last 12 months | $3.80 | | Dividends / free cash flow (fiscal 2025) | 23.2% | | Raised | 9 years in a row | | Growth over 5 years | 5.3% a year | | Latest payment | $0.96, ex-date Sep 30, 2026, paid Oct 15, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Sep 29, 2021 | $2.93 | | To Sep 29, 2022 | $3.26 | | To Sep 28, 2023 | $3.34 | | To Sep 30, 2024 | $3.48 | | To Sep 30, 2025 | $3.64 | | Trailing twelve months (to Sep 30, 2026) | $3.80 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $537.60 | $307.68 | $1,442.23 | | DCF · Perpetuity growth · 10y | cross check | $566.37 | $334.43 | $1,489.90 | | DCF · EBITDA exit · 5y | cross check | $487.50 | $353.65 | $645.10 | | DCF · EBITDA exit · 10y | cross check | $522.73 | $371.17 | $724.21 | | P/E · peers | cross check | $348.47 | $323.18 | $398.28 | | P/E · own history | cross check | $427.03 | $268.48 | $485.96 | | PEG | sanity check | $397.40 | $397.40 | $397.40 | | EV/EBITDA · peers | cross check | $427.84 | $418.98 | $458.82 | | EV/Revenue · peers | cross check | $395.39 | $321.88 | $442.61 | | Earnings power value | cross check | $92.18 | $70.31 | $125.95 | | Dividend discount | cross check | $119.64 | $76.01 | $232.92 | ## Insider activity (SEC Form 4) Past 90 days: 0 open-market buys ($0) and 1 open-market sale ($250,171.7); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Oct 9, 2026 | Banas Kristy D | Chief Human Resources Officer | Grant / award | 42.245 | $12,515.6 | | Oct 9, 2026 | Banas Kristy D | Chief Human Resources Officer | Grant / award | 2.154 | $638 | | Oct 9, 2026 | Faber Alexis | Chief Operating Officer | Grant / award | 46.49 | $13,773.2 | | Oct 9, 2026 | Faber Alexis | Chief Operating Officer | Grant / award | 4.822 | $1,428.6 | | Oct 9, 2026 | Furman Matthew | General Counsel | Grant / award | 7.092 | $2,100.9 | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Jul 30, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1140536/000119312526325374/wtw-20260630.htm | | Jul 30, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1140536/000117184326005042/f8k_073026.htm | | May 26, 2026 | S-8 | Employee stock plan registration | https://www.sec.gov/Archives/edgar/data/1140536/000119312526239226/d70005ds8.htm | | May 21, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1140536/000119312526234740/d125692d8k.htm | | Apr 30, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1140536/000119312526195310/wtw-20260331.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | Dodge & Cox | 2026-06-30 | 8,025,392 | $2.1B | | Bill Nygren | 2026-06-30 | 5,908,033 | $1.5B | | First Eagle | 2026-06-30 | 4,475,860 | $1.2B | | David Abrams | 2026-06-30 | 720,779 | $188.4M | 7 tracked managers in all. ## About Willis Towers Watson Public Limited Company (WTW) functions as a global provider of comprehensive consulting, brokerage, and solutions services. Its operations are structured across two primary divisions: Health, Wealth and Career, and Risk and Broking. Within the Health, Wealth and Career segment, WTW furnishes actuarial guidance, plan development, and administrative assistance for conventional pension and retirement savings schemes. It also delivers consulting, brokerage, and management services for health and group employee benefit programs, along with outsourced benefits administration. Furthermore, the company offers strategic counsel, analytical data, specialized software, and various products designed to help clients effectively manage their overall compensation and human capital challenges. The Risk and Broking division extends expertise in risk management, insurance placement, a… --- Source: https://sweetvaluelab.com/stocks/wtw (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.