WTW Willis Towers Watson Public Limited Company - Ordinary Shares
NASDAQ · Insurance · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 30, 2026WTW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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| Ex-date | Split | Type |
|---|---|---|
| Jan. 5, 2016 | 1-for-3 | Reverse |
About Willis Towers Watson Public Limited Company - Ordinary Shares Company overview from Wikipedia
Willis Towers Watson plc (branded as WTW) is a British-American multinational advisory, broking and solutions company. Its operations span commercial insurance brokerage and risk advisory, employee benefits and rewards consulting, retirement and actuarial services, and investment advice for pension funds and institutional investors.
The company is legally domiciled in Ireland and has its principal executive offices at the Willis Building in London. In 2024 WTW reported revenue of US$9.93 billion and employed about 48,900 people. Following completion of the Willis Group - Towers Watson merger, the company was added to the S&P 500 index in January 2016. WTW ranks among the largest global insurance brokers by revenue.
History
Origins and predecessor firms
WTW’s roots trace to nineteenth- and twentieth-century insurance broking and actuarial consultancies that later combined to form Willis Group and Towers Watson.
Willis Group
Henry Willis began broking at Lloyd’s in the 1840s and founded Henry Willis & Co. The firm merged with Faber Brothers in 1898 to form Willis, Faber & Co., and with Dumas & Wylie in 1928 to form Willis, Faber & Dumas. The company listed on the London Stock Exchange in 1976. In 1990 Willis entered the U.S. retail market through a merger with Corroon & Black to create Willis Corroon. It was taken private by KKR in 1998, adopted the Willis Group name, and relisted on the New York Stock Exchange in 2001 under the ticker WSH. Willis expanded in North America by acquiring Hilb, Rogal & Hobbs in 2008, increased its longtime stake to acquire French broker Gras Savoye in 2015, and agreed that year to purchase an 85% stake in London broker Miller. Willis launched the Willis Research Network in 2006 to link academia and industry on natural-hazard and risk science.
Watson Wyatt Worldwide
R. Watson & Sons was founded in the United Kingdom in 1878. The Wyatt Company was founded in the United States in the 1940s. The firms merged in 1995 under the Watson Wyatt name, the U.S. business listed on the New York Stock Exchange in 2000, and the UK and U.S. businesses formally merged in 2005 as Watson Wyatt Worldwide.
Towers Perrin and Towers Watson
Towers, Perrin, Forster & Crosby (TPF&C) was established in 1934. It acquired actuarial firm Tillinghast, Nelson & Warren in 1986 and shortened its name to Towers Perrin in 1987. Towers Perrin and Watson Wyatt completed a merger of equals on 4 January 2010 to form Towers Watson, led by John Haley, before the 2016 merger with Willis Group created WTW.
Formation of Willis Towers Watson (2016)
Shareholders approved the merger of Willis Group and Towers Watson in December 2015. The combined company began operating as Willis Towers Watson in early January 2016, with shares trading on Nasdaq under the ticker WLTW.
Proposed acquisition by Aon
On 9 March 2020 Aon announced an all-stock deal to acquire Willis Towers Watson valued at about US$30 billion. The combined group would have been the world’s largest insurance broker by revenue. The parties targeted completion in 2021 subject to regulatory approvals and other conditions.
Competition authorities conducted in-depth reviews. The European Commission opened a Phase II investigation in December 2020 and on 9 July 2021 approved the transaction subject to structural remedies that included the divestment of substantial Willis Towers Watson reinsurance and commercial risk broking activities to an approved purchaser. The Commission said the commitments preserved competition for large commercial clients and for reinsurance broking in the EEA. Outside Europe, the Australian Competition & Consumer Commission set out preliminary concerns in February 2021 relating to reinsurance broking and broking for large commercial clients in Australia.
In the United States the Department of Justice filed a civil antitrust complaint on 16 June 2021 to block the merger. The complaint alleged that the deal would substantially lessen competition in five markets covering large-client broking, reinsurance broking, health benefits broking for large customers, private multicarrier retiree exchanges and pension administration services for large customers.
On 26 July 2021 Aon and Willis Towers Watson terminated their business combination agreement, citing the uncertainty created by the DOJ litigation. Under the termination agreement Aon paid a US$1 billion fee to Willis Towers Watson. In the months that followed, Willis Towers Watson completed the sale of its treaty reinsurance brokerage operations to Arthur J. Gallagher & Co., which had been the intended purchaser under the European remedy package.
Rebranding since 2020
In November 2020 WTW acquired Acclimatise, a UK-based climate consultancy, and in November 2021 it agreed to acquire Israeli broker Leaderim as part of a broader build-out of specialty and regional broking networks. WTW completed the sale of its treaty reinsurance operations to Arthur J. Gallagher & Co. on 1 December 2021 for an initial US$3.25 billion with a potential earn-out.
The company rebranded commercially as WTW in January 2022 and changed its Nasdaq ticker to WTW. In March 2022 it withdrew from Russia, transferring ownership of its Russian businesses to local management. In July 2022 WTW acquired Butterwire, a climate risk analytics firm, to support its advisory and software offerings. In October 2024 WTW announced an agreement to sell its direct-to-consumer unit TRANZACT, completion of which was announced on 2 January 2025.
In December 2025, it was announced WTW had reached an agreement to acquire NatWest Group's 85% stake in the UK-based workplace savings and pensions fintech, Cushon. The acquisition will be subject to regulatory approval.
In January 2026, it was announced that WTW had acquired Invoice Cover, a Québec-based specialist in trade credit insurance, with the business integrated into its Willis broking division. The acquisition, which was completed in December 2025, was intended to strengthen Willis’ presence in the Canadian trade credit market.
In January 2026, WTW acquired the American company Newfront in a $1.3 billion deal. The acquisition allowed WTW to expand its reach in the U.S. middle-market and add scale in sectors such as technology, fintech, and life sciences.
Operations
Segments
WTW reports two operating segments. Risk & Broking provides risk advice, insurance brokerage and related consulting to clients from small firms to multinationals. Health, Wealth & Career provides benefits administration and technology, health and benefits brokerage, retirement and actuarial consulting, investment advice and human capital and rewards services.
Risk and broking
The segment comprises two primary businesses: Corporate Risk & Broking and Insurance Consulting and Technology. Corporate Risk & Broking places and services commercial and specialty risks for corporate and institutional clients.
Insurance consulting and technology
Within Risk & Broking, Insurance Consulting and Technology provides advisory services to insurers and develops software used for pricing, reserving and capital modelling, including the Radar pricing suite, ResQ reserving and the Igloo modelling platform used by general insurers.
Health, wealth and career
Health, Wealth & Career covers benefits administration and technology, health and benefits brokerage, retirement and actuarial consulting, investment advisory for institutional investors, and workforce and rewards advisory.
Markets and geography
In 2024 the revenue mix by segment was 59 percent Health, Wealth & Career and 41 percent Risk & Broking. Revenue by geography was 55 percent North America, 34 percent Europe and 11 percent International.
Defined contribution master trust
In the United Kingdom, WTW sponsors LifeSight, a multi-employer defined contribution master trust open to participating employers. LifeSight was the first master trust to be granted authorisation under The Pensions Regulator’s regime in February 2019, confirming that it met the regulator’s standards on governance and financial sustainability.
LifeSight has grown through employer onboarding and consolidation. By July 2024 it had passed £20 billion in assets under management and covered more than 400,000 members. By September 2025 assets reached above £24 billion with about 430,000 members. The master trust offers an in-scheme drawdown arrangement, in September 2025 over 7,500 members had used this option, with drawdown assets exceeding £1 billion.
The scheme is governed by an independent trustee board with an independent chair, separate from WTW’s management. Its Statement of investment principles states that the standard default is a medium-risk drawdown lifecycle that gradually de-risks as members approach retirement. The trustee permits use of certain illiquid assets within the default where appropriate. Earlier reporting highlighted an increased allocation to ESG strategies within the default from 2018. In August 2025 LifeSight announced an allocation to a renewables long-term asset fund as part of its default’s long-term growth exposure.
Governance
WTW is an Irish public limited company with a single-tier board. In May 2025 the board appointed Paul Reilly as non-executive chair following the company’s annual general meeting, succeeding Paul Thomas, who retired from the board at the end of his term. The chief executive officer is Carl Hess, who succeeded John Haley on 1 January 2022, and the chief financial officer is Andrew Krasner, appointed in September 2021.
Financials
For the year ended 31 December 2024 WTW reported revenue of US$9.93 billion, operating income of US$627 million and a net loss of US$98 million. Total assets were US$27.7 billion and total equity was US$7.94 billion. The 2024 net loss primarily reflected non-cash impairment charges related to the sale of the company’s TRANZACT unit, partially offset by recognition of an earn-out related to the 2021 Willis Re divestment.
Selected annual results
Notes: 2021 net income includes gains related to divestitures and discontinued operations following regulatory remedies associated with the terminated Aon transaction; 2024 reflects impairments related to the TRANZACT sale.
Legal issues
In 2005 U.S. authorities examined the use of contingent commissions in commercial insurance broking. Willis Group said it would cease the practice and improve transparency in the wake of wider industry settlements that followed the Marsh & McLennan probe.
In July 2011 the UK Financial Services Authority fined Willis Limited £6.895 million after finding that anti-bribery and corruption systems and controls were inadequate between 2005 and 2009.
During the Willis Group and Towers Watson merger process in 2015 some Towers Watson investors objected to the original terms. A first shareholder vote on 18 November 2015 did not secure sufficient support, and reporting highlighted concerns about valuation and potential conflicts of interest. Towers Watson shareholder Driehaus Capital Management urged other shareholders to vote against the proposed merger, calculating that Towers Watson was worth between 39% and 53% more as a standalone company. Towers Watson CEO John Haley was accused of having a conflict of interest since he was to receive $165 million from the completion of the deal. Haley had disposed of 55% of his shares in the company for a $10 million profit in early March 2015 while the merger negotiations were ongoing and before the stock price dropped on the news of the acquisition. Willis then increased a special cash dividend payable to Towers Watson shareholders and the revised offer was approved on 11 December 2015.
Following completion, stockholders brought litigation in the Delaware Court of Chancery and related federal actions concerning the merger process and disclosures. In 2019 the Court of Chancery allowed certain claims to proceed. In 2024 the parties reported settlements totaling about US$90 million across the federal proxy action and related Delaware proceedings.
A separate insurance coverage dispute concerned whether directors’ and officers’ policies covered the merger-related settlements. On 9 August 2024 the United States Court of Appeals for the Fourth Circuit vacated a district court ruling that had applied a “bump-up” exclusion and remanded for further proceedings. Commentary discussed possible implications for coverage of merger-related settlements.
Notable office locations
Willis Building at 51 Lime Street in the City of London, WTW’s principal executive offices. It was designed by Foster + Partners, opening in 2008, and received the Council on Tall Buildings and Urban Habitat’s regional award for Europe in 2008.
Willis Building in Ipswich, England, designed by Norman Foster and given Grade I listed building status.
The company is incorporated in Ireland and its registered office is at Willis Towers Watson House, Elm Park, Merrion Road, Dublin 4.
Willis Tower in Chicago, United States. Willis secured naming rights in July 2009 in connection with a large lease commitment. The tower had been known as the Sears Tower since its completion in 1973.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | WTW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 17.95Y avg ≈-49.5 | ≈-49.5 | · | · | |
| PEG Ratio | ≈1.1 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | WTW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 22.2%5Y avg ≈16.3% | ≈16.3% | · | · | |
| EBITDA Margin | 23.0%5Y avg ≈16.3% | ≈16.3% | · | · | |
| Pretax Margin (TTM) | 19.8%5Y avg ≈15.8% | ≈15.8% | · | · | |
| Net Profit Margin (TTM) | 15.5%5Y avg ≈17.0% | ≈17.0% | · | · | |
| ROA (TTM) | 5.3%5Y avg ≈4.6% | ≈4.6% | · | · | |
| ROE (TTM) | 19.8%5Y avg ≈14.7% | ≈14.7% | · | · | |
| ROIC | 13.1%5Y avg ≈6.7% | ≈6.7% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | WTW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.85Y avg ≈0.6 | ≈0.6 | · | · | |
| Current Ratio (MRQ) | 1.15Y avg ≈1.2 | ≈1.2 | · | · | |
| Quick Ratio (MRQ) | 0.35Y avg ≈0.4 | ≈0.4 | · | · | |
| Long-Term Debt / Equity (MRQ) | 0.85Y avg ≈0.5 | ≈0.5 | · | · | |
| Interest Coverage | 8.65Y avg ≈6.6 | ≈6.6 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | WTW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -2.2%5Y avg ≈2.5% | ≈2.5% | · | · | |
| Revenue CAGR 3Y | 3.1%5Y avg ≈3.2% | ≈3.2% | · | · | |
| Revenue CAGR 5Y | 2.4% | · | · | · | |
| EPS YoY | 10.8%5Y avg ≈88.9% | ≈88.9% | · | · | |
| Net Income YoY | 4.6%5Y avg ≈84.1% | ≈84.1% | · | · | |
| EPS CAGR 3Y | 21.9% | · | · | · | |
| EPS CAGR 5Y | 16.3% | · | · | · | |
| Net Income CAGR 3Y | 16.7% | · | · | · | |
| Net Income CAGR 5Y | 10.0% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | WTW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.35Y avg ≈0.3 | ≈0.3 | · | · | |
| Receivables Turnover | 3.75Y avg ≈3.8 | ≈3.8 | · | · | |
| Revenue / Employee | ≈$201.8K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Jun 30, 2026 | $0.96 | USD | ≈1.4% |
| Mar 31, 2026 | $0.96 | USD | ≈1.3% |
| Dec 31, 2025 | $0.92 | USD | ≈1.1% |
| Sep 30, 2025 | $0.92 | USD | ≈1.1% |
| Jun 30, 2025 | $0.92 | USD | ≈1.2% |
| Mar 31, 2025 | $0.92 | USD | ≈1.1% |
| Dec 31, 2024 | $0.88 | USD | ≈1.1% |
| Sep 30, 2024 | $0.88 | USD | ≈1.2% |
| Jun 28, 2024 | $0.88 | USD | ≈1.3% |
| Mar 27, 2024 | $0.88 | USD | ≈1.2% |
| Dec 28, 2023 | $0.84 | USD | ≈1.4% |
| Sep 28, 2023 | $0.84 | USD | ≈1.6% |
| Jun 29, 2023 | $0.84 | USD | ≈1.4% |
| Mar 30, 2023 | $0.84 | USD | ≈1.4% |
| Dec 29, 2022 | $0.82 | USD | ≈1.3% |
| Sep 29, 2022 | $0.82 | USD | ≈1.6% |
| Jun 29, 2022 | $0.82 | USD | ≈1.6% |
| Mar 30, 2022 | $0.82 | USD | ≈1.3% |
| Dec 30, 2021 | $0.80 | USD | ≈1.3% |
| Sep 29, 2021 | $0.80 | USD | ≈1.3% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 29, 2026 | $3.35 | $3.15 | 6.5% |
| March 31, 2026 | $3.72 | $3.70 | 0.41% | |
| Dec. 31, 2025 | $8.12 | $8.02 | 1.2% | |
| Sept. 30, 2025 | $3.07 | $3.08 | -0.42% | |
| June 30, 2025 | $2.86 | $2.62 | 9.0% | |
| March 31, 2025 | $3.13 | $3.23 | -3.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.71B | $9.93B | $9.48B | $8.87B | $9.00B | $8.62B | $8.37B | $8.51B | $8.20B | $7.89B | $3.83B | $3.80B | |
| Operating Expenses | $7.47B | $9.30B | $8.12B | $7.69B | $6.80B | $7.76B | $7.32B | $7.70B | $7.69B | $7.54B | $3.40B | $3.15B | |
| Operating Income | $2.23B | $627M | $1.36B | $1.18B | $2.20B | $859M | $1.05B | $809M | $516M | $348M | $427M | $647M | |
| Interest Expense | $260M | $263M | $235M | $208M | $211M | $244M | $234M | $208M | $188M | $184M | $142M | $135M | |
| Interest Income | · | · | · | · | · | · | $21M | $3M | $3M | $2M | · | · | |
| Other Non-op | $-21M | $-262M | $146M | $288M | $701M | $396M | $226M | $250M | $164M | $178M | $55M | $6M | |
| Pretax Income | $1.95B | $102M | $1.28B | $1.26B | $2.69B | $1.01B | $1.05B | $851M | $492M | $342M | $340M | $518M | |
| Income Tax | $318M | $192M | $215M | $194M | $536M | $249M | $197M | $136M | $-100M | $-96M | $-33M | $159M | |
| Net Income | $1.60B | $-98M | $1.05B | $1.01B | $4.22B | $996M | $1.04B | $695M | $568M | $420M | $373M | $362M | |
| EPS (Basic) | $16.34 | $-0.96 | $10.01 | $9.00 | $32.88 | $7.68 | $8.05 | $5.29 | $4.21 | $3.07 | $5.49 | $5.40 | |
| EPS (Diluted) | $16.26 | $-0.96 | $9.95 | $8.98 | $32.78 | $7.65 | $8.02 | $5.27 | $4.18 | $3.04 | $5.41 | $5.32 | |
| Shares (Basic) | 98,000,000 | 102,000,000 | 105,000,000 | 112,000,000 | 128,000,000 | 130,000,000 | 130,000,000 | 131,000,000 | 135,000,000 | 137,000,000 | 68,000,000 | 67,000,000 | |
| Shares (Diluted) | 99,000,000 | 102,000,000 | 106,000,000 | 112,000,000 | 129,000,000 | 130,000,000 | 130,000,000 | 132,000,000 | 136,000,000 | 138,000,000 | 69,000,000 | 68,000,000 | |
| EBITDA | $2.23B | $627M | $1.36B | $1.18B | $2.20B | $1.18B | $1.33B | $809M | $738M | $551M | $427M | $647M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.13B | $1.89B | $1.42B | $1.26B | $4.49B | $2.04B | $887M | $1.03B | $1.03B | $870M | $532M | $635M | |
| Short-term Investments | $25M | $0 | · | $0 | $200M | · | · | · | · | · | · | · | |
| Receivables | $2.70B | $2.49B | $2.57B | $2.39B | $2.37B | $2.41B | $2.62B | $2.38B | $2.25B | $2.08B | $1.26B | $1.04B | |
| Prepaid Expense | $595M | $1.22B | $364M | $414M | $612M | $479M | $525M | $404M | $430M | $337M | $255M | · | |
| Other Current Assets | $56M | $60M | $53M | $54M | $54M | $74M | $112M | $57M | $71M | $55M | $40M | $212M | |
| Current Assets | $16.87B | $15.11B | $13.43B | $15.84B | $18.49B | $20.30B | $17.04B | $16.42B | $15.86B | $13.79B | $12.50B | $10.84B | |
| PP&E (Net) | $695M | $661M | $720M | $718M | $851M | $1.01B | $1.05B | $942M | $985M | $839M | $563M | $483M | |
| PP&E (Gross) | $2.23B | $1.99B | $2.07B | $1.99B | $2.09B | $2.13B | $1.94B | $1.71B | $1.86B | $1.48B | $1.09B | $980M | |
| Accum. Depreciation | $1.54B | $1.33B | $1.35B | $1.27B | $1.24B | $1.12B | $891M | $768M | $877M | $642M | $528M | $497M | |
| Goodwill | $8.94B | $8.80B | $10.20B | $10.17B | $10.18B | $10.39B | $10.38B | $10.46B | $10.52B | $10.41B | $3.74B | $2.94B | |
| Intangibles | $1.14B | $1.29B | $2.02B | $2.27B | $2.56B | $2.99B | $3.48B | $3.32B | $3.88B | $4.37B | $1.11B | $450M | |
| Other Non-current Assets | $866M | $806M | $1.57B | $1.36B | $1.20B | $1.08B | $835M | $467M | $447M | $353M | $298M | $210M | |
| Total Assets | $29.53B | $27.68B | $29.09B | $31.77B | $34.97B | $38.53B | $35.43B | $32.38B | $32.46B | $30.25B | $18.84B | $15.42B | |
| Accounts Payable | · | · | · | · | · | · | · | $163M | $136M | $117M | $75M | $131M | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | · | $988M | $167M | |
| Current Liabilities | $14.00B | $12.60B | $12.63B | $14.78B | $14.72B | $19.33B | $16.07B | $15.30B | $14.76B | $13.37B | $12.80B | $10.21B | |
| Capital Leases | $472M | $502M | $592M | $620M | $734M | $917M | $964M | $0 | · | · | · | · | |
| Deferred Tax | · | $45M | $542M | $748M | $845M | $561M | $526M | $559M | $615M | $864M | $240M | $147M | |
| Other Non-current Liabilities | $246M | $299M | $238M | $221M | $253M | $290M | $335M | $429M | $544M | $532M | $533M | $389M | |
| Total Liabilities | $21.48B | $19.66B | $19.50B | $21.68B | $21.66B | $27.60B | $25.06B | $22.39B | $22.18B | $20.02B | $16.43B | $13.36B | |
| Long-term Debt | $9.69B | $8.61B | $7.43B | $6.76B | $6.64B | $7.88B | $8.02B | $6.40B | $5.64B | $4.94B | · | · | |
| Total Debt | $6.31B | $5.31B | $5.22B | $4.72B | $4.59B | $5.63B | $5.62B | $4.39B | $4.45B | $3.36B | $3.27B | $2.31B | |
| Paid-in Capital | · | · | · | · | · | · | · | · | $10.54B | $10.60B | $1.67B | · | |
| Retained Earnings | $-296M | $109M | $1.47B | $1.76B | $4.64B | $2.43B | $1.79B | $1.20B | $1.10B | $1.45B | $1.60B | $1.53B | |
| Treasury Stock | · | · | $0 | $3M | $3M | $3M | $3M | $3M | $3M | $99M | $3M | $3M | |
| AOCI | $-2.83B | $-3.16B | $-2.86B | $-2.62B | $-2.19B | $-2.36B | $-2.23B | $-1.96B | $-1.51B | $-1.88B | $-1.04B | $-1.07B | |
| Stockholders' Equity | $7.98B | $7.94B | $9.52B | $10.02B | $13.26B | $10.82B | $10.25B | $9.85B | $10.13B | $10.06B | $2.23B | $1.99B | |
| Liabilities + Equity | $29.53B | $27.68B | $29.09B | $31.77B | $34.97B | $38.53B | $35.43B | $32.38B | $32.46B | $30.25B | $18.84B | $15.42B |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | $171M | $146M | |
| Stock-based Comp | $153M | $121M | $125M | $99M | $101M | $90M | $74M | $50M | $67M | $123M | $64M | $52M | |
| Deferred Tax | $55M | $-213M | $-109M | $-54M | $96M | $99M | $-81M | $-115M | $-285M | $-244M | $-99M | $66M | |
| Amort. of Intangibles | $192M | $226M | $263M | $312M | $369M | $461M | $488M | $534M | $581M | $591M | $76M | $54M | |
| Restructuring | $0 | $61M | $68M | $99M | $26M | $24M | $0 | $0 | $132M | $193M | $126M | $36M | |
| Operating Cash Flow | $1.77B | $1.51B | $1.34B | $812M | $2.06B | $1.77B | $1.08B | $1.29B | $862M | $933M | $244M | $477M | |
| CapEx | $229M | $245M | $242M | · | · | · | · | $268M | $300M | $218M | $146M | $113M | |
| Investing Cash Flow | $447M | $250M | $-1.08B | $-173M | $2.57B | $-160M | $-1.61B | $-341M | $-335M | $195M | $-943M | $-276M | |
| Net Debt Issued | $-5M | $-655M | $-254M | $-585M | $-1.01B | $-327M | $-995M | $-170M | $-734M | $-1.90B | · | · | |
| Stock Issued | · | $0 | $0 | $7M | $10M | $16M | $45M | $45M | $61M | $63M | $131M | $139M | |
| Stock Repurchased | $1.65B | $901M | $1.00B | $3.53B | $1.63B | $0 | $150M | $602M | $532M | $396M | $82M | $213M | |
| Net Stock Activity | $-1.65B | $-901M | $-1.00B | $-3.52B | $-1.62B | $16M | $-105M | $-557M | $-471M | $-333M | $42M | $-79M | |
| Dividends Paid | $358M | $354M | $352M | $369M | $374M | $346M | $329M | $306M | $277M | $199M | $277M | $210M | |
| Financing Cash Flow | $-936M | $-459M | $-1.20B | $-3.44B | $-3.11B | $378M | $455M | $-903M | $-479M | $-775M | $640M | $-323M | |
| Net Change in Cash | · | · | · | · | · | · | · | · | · | · | $-59M | $-122M | |
| Taxes Paid | $441M | $312M | $348M | $428M | $570M | $310M | $299M | $178M | $203M | $158M | $91M | $88M | |
| Free Cash Flow | $1.55B | · | · | · | · | · | · | $1.02B | $562M | $702M | $97M | $364M | |
| Levered FCF | $1.33B | · | · | · | · | · | · | $845M | $336M | $466M | $-59M | $270M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 23.0% | 6.3% | 14.4% | 13.3% | 24.5% | 12.7% | 14.7% | 9.5% | 9.0% | 7.0% | 11.2% | 17.0% | |
| Net Margin | 16.5% | -0.99% | 11.1% | 11.4% | 46.9% | 10.7% | 11.6% | 8.2% | 6.9% | 5.3% | 9.7% | 9.5% | |
| Pretax Margin | 20.1% | 1.1% | 13.5% | 14.2% | 29.9% | 14.3% | 14.6% | 10.0% | 6.0% | 4.3% | 8.9% | 13.6% | |
| EBITDA Margin | 23.0% | 6.3% | 14.4% | 13.3% | 24.5% | 12.7% | 14.7% | 9.5% | 9.0% | 7.0% | 11.2% | 17.0% | |
| ROA | 5.6% | -0.35% | 3.5% | 3.0% | 11.5% | 2.7% | 3.1% | 2.1% | 1.8% | 1.7% | 2.2% | 2.4% | |
| ROE | 20.2% | -1.1% | 10.8% | 8.7% | 35.1% | 9.4% | 10.4% | 7.0% | 5.6% | 6.8% | 17.7% | 17.2% | |
| ROIC | 13.1% | -4.0% | 7.7% | 6.8% | 9.9% | 5.5% | 6.8% | 4.8% | 6.1% | 5.3% | 8.5% | 10.4% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | 1.2 | 1.1 | 1.1 | 1.3 | 1.1 | 1.1 | 1.1 | 1.1 | 1.0 | 1.0 | 1.1 | |
| Quick Ratio | 0.4 | 0.3 | 0.3 | 0.2 | 0.5 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | |
| Debt / Equity | 0.8 | 0.7 | 0.5 | 0.5 | 0.3 | 0.5 | 0.5 | 0.4 | 0.4 | 0.3 | 1.5 | 1.2 | |
| LT Debt / Equity | 0.7 | 0.7 | 0.5 | 0.4 | 0.3 | 0.4 | 0.5 | 0.4 | 0.4 | 0.3 | 1.0 | 1.1 | |
| Interest Coverage | 8.6 | 2.4 | 5.8 | 5.7 | 10.4 | 4.8 | 5.7 | 3.9 | 3.9 | 3.0 | 3.0 | 4.8 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | |
| Receivables Turnover | 3.7 | 3.9 | 3.8 | 3.7 | 3.8 | 3.6 | 3.6 | 3.5 | 3.8 | 4.7 | 3.3 | 3.6 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $98.06 | $97.35 | $89.46 | $79.16 | $69.75 | $71.94 | $69.53 | $64.49 | $60.31 | $57.15 | $55.49 | $21.01 | |
| Cash Flow / Share | $17.93 | $14.82 | $12.69 | $7.25 | $15.98 | $13.65 | $8.32 | $9.76 | $6.34 | $6.67 | $3.52 | $2.64 | |
| Dividend / Share | $3.68 | $3.52 | $3.36 | $3.28 | $3.02 | $2.75 | $2.60 | $2.40 | $2.12 | $1.92 | $3.28 | $3.18 | |
| EPS (TTM) | $16.26 | $-0.96 | $9.95 | $8.98 | $32.78 | $7.65 | $8.02 | $5.27 | $4.18 | $3.04 | $5.41 | $5.32 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -2.2% | 4.7% | 7.0% | -1.5% | 4.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 3.1% | 3.3% | 3.2% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 2.4% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | 10.8% | -72.6% | 328.5% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 21.9% | · | 9.2% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 16.3% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | 4.6% | -76.1% | 323.9% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 16.7% | · | 1.9% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 10.0% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 0.68% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.71B | $9.93B | $9.48B | $8.87B | $9.00B | $8.62B | $8.37B | $8.51B | $8.20B | $7.89B | $3.83B | $3.80B | |
| Net Income TTM | $1.60B | $-98M | $1.05B | $1.01B | $4.22B | $996M | $1.04B | $695M | $568M | $420M | $373M | $362M | |
| P/E | 20.2 | -326.3 | 24.2 | 27.2 | 7.2 | 27.5 | 25.2 | 28.8 | 36.1 | 40.2 | 23.8 | 22.3 | |
| Earnings Yield | 5.0% | -0.31% | 4.1% | 3.7% | 13.8% | 3.6% | 4.0% | 3.5% | 2.8% | 2.5% | 4.2% | 4.5% | |
| Payout Ratio | 22.3% | -361.2% | 33.4% | 36.6% | 8.9% | 34.7% | 31.5% | 44.0% | 48.8% | 47.4% | 74.3% | 58.0% | |
| Annual Payout | $358M | $354M | $352M | $369M | $374M | $346M | $329M | $306M | $277M | $199M | $277M | $210M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.47B | $2.41B | $2.94B | $2.29B | $2.26B | $2.22B | $3.04B | $2.29B | $2.27B | $2.34B | $2.91B | $2.17B | $2.16B | $2.24B | $2.72B | $1.95B | |
| Operating Expenses | $2.10B | $1.96B | $1.92B | $1.87B | $1.89B | $1.79B | $2.13B | $3.06B | $2.05B | $2.06B | $2.13B | $2.01B | $2.02B | $1.96B | $2.01B | $1.80B | |
| Operating Income | $364M | $448M | $1.02B | $418M | $368M | $432M | $901M | $-766M | $212M | $280M | $779M | $159M | $142M | $285M | $708M | $154M | |
| Interest Expense | $78M | $77M | $66M | $65M | $64M | $65M | $66M | $65M | $68M | $64M | $63M | $61M | $57M | $54M | $54M | $54M | |
| Other Non-op | $6M | $5M | $-3M | $37M | $9M | $-64M | $856M | $-1.17B | $23M | $26M | $20M | $66M | $35M | $25M | $83M | $85M | |
| Pretax Income | $292M | $376M | $947M | $390M | $313M | $303M | $1.69B | $-2.00B | $167M | $242M | $736M | $164M | $120M | $256M | $737M | $185M | |
| Income Tax | $57M | $70M | $197M | $77M | $-21M | $65M | $440M | $-322M | $26M | $48M | $116M | $25M | $24M | $50M | $131M | $1M | |
| Net Income | $229M | $297M | $735M | $304M | $331M | $235M | $1.25B | $-1.68B | $141M | $190M | $622M | $136M | $94M | $203M | $588M | $190M | |
| EPS (Basic) | $2.43 | $3.12 | $7.54 | $3.12 | $3.34 | $2.34 | $12.27 | $-16.44 | $1.37 | $1.84 | $5.94 | $1.30 | $0.88 | $1.89 | $5.28 | $1.72 | |
| EPS (Diluted) | $2.43 | $3.10 | $7.50 | $3.11 | $3.32 | $2.33 | $12.29 | $-16.44 | $1.36 | $1.83 | $5.90 | $1.29 | $0.88 | $1.88 | $5.26 | $1.72 | |
| Shares (Basic) | 94,000,000 | 95,000,000 | · | 98,000,000 | 99,000,000 | 100,000,000 | · | 102,000,000 | 103,000,000 | 103,000,000 | · | 105,000,000 | 107,000,000 | 107,000,000 | · | 110,000,000 | |
| Shares (Diluted) | 94,000,000 | 96,000,000 | · | 98,000,000 | 100,000,000 | 101,000,000 | · | 102,000,000 | 103,000,000 | 104,000,000 | · | 105,000,000 | 107,000,000 | 108,000,000 | · | 111,000,000 | |
| EBITDA | $364M | $448M | · | $418M | $368M | $432M | · | $-766M | $212M | $280M | · | $159M | $142M | $285M | · | $154M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.63B | $1.85B | $3.13B | $1.90B | $1.96B | $1.51B | $1.89B | $1.37B | $1.25B | $1.89B | $1.42B | $1.25B | $1.60B | $1.14B | $1.26B | $1.50B | |
| Short-term Investments | $34M | · | $25M | $25M | $25M | · | $0 | · | · | · | · | · | · | · | · | $0 | |
| Receivables | $2.60B | $2.65B | $2.70B | $2.19B | $2.36B | $2.37B | $2.49B | $2.12B | $2.42B | $2.43B | · | $2.08B | $2.21B | $2.26B | · | $1.88B | |
| Prepaid Expense | $669M | $601M | $595M | $570M | $558M | $1.29B | $1.22B | $558M | $432M | $379M | · | $469M | $401M | $337M | · | $476M | |
| Other Current Assets | $59M | · | $56M | $77M | $51M | · | $60M | $69M | $58M | · | · | $39M | · | $43M | · | $61M | |
| Current Assets | $16.75B | $16.09B | $16.87B | $14.62B | $15.61B | $15.46B | $15.11B | $14.31B | $14.03B | $14.64B | · | $11.83B | $12.82B | $15.95B | · | $15.05B | |
| PP&E (Net) | $675M | $671M | $695M | $686M | $696M | $667M | $661M | $710M | $709M | $703M | · | $710M | $725M | $723M | · | $701M | |
| PP&E (Gross) | · | · | $2.23B | · | · | · | $1.99B | · | · | · | $2.07B | · | · | · | $1.99B | · | |
| Accum. Depreciation | · | · | $1.54B | · | · | · | $1.33B | · | · | · | $1.35B | · | · | · | $1.27B | · | |
| Goodwill | $9.73B | $9.66B | $8.94B | $8.94B | $8.94B | $8.84B | $8.80B | $8.88B | $10.18B | $10.19B | $10.20B | $10.14B | $10.20B | $10.19B | $10.17B | $10.09B | |
| Intangibles | $1.44B | $1.27B | $1.14B | $1.19B | $1.23B | $1.25B | $1.29B | $1.36B | $1.90B | $1.96B | · | $2.06B | $2.15B | $2.21B | · | $2.31B | |
| Other Non-current Assets | $928M | $904M | $866M | $942M | $934M | $803M | $806M | $732M | $1.66B | $1.61B | · | $1.43B | $1.42B | $1.39B | · | $1.24B | |
| Total Assets | $30.56B | $29.64B | $29.53B | $27.44B | $28.48B | $28.06B | $27.68B | $27.17B | $29.62B | $30.24B | · | $27.62B | $28.77B | $31.91B | · | $30.99B | |
| Current Liabilities | $15.24B | $13.55B | $14.00B | $13.24B | $13.87B | $13.38B | $12.60B | $12.54B | $12.67B | $13.12B | · | $11.30B | $11.97B | $14.89B | · | $14.12B | |
| Capital Leases | $454M | $485M | $472M | $475M | $500M | $498M | $502M | $556M | $564M | $570M | · | $569M | $602M | $610M | · | $608M | |
| Deferred Tax | · | · | · | · | · | · | · | $94M | $552M | $550M | · | $706M | $721M | $736M | · | $758M | |
| Other Non-current Liabilities | $340M | $251M | $246M | $255M | $246M | $296M | $299M | $202M | $196M | $221M | · | $200M | $201M | $200M | · | $203M | |
| Total Liabilities | $22.79B | $21.58B | $21.48B | $19.63B | $20.30B | $19.85B | $19.66B | $19.60B | $20.21B | $20.67B | · | $18.14B | $18.90B | $21.73B | · | $21.08B | |
| Long-term Debt | $6.53B | $6.30B | $9.69B | $5.31B | $5.31B | $5.31B | $5.31B | $5.31B | $5.31B | $5.96B | · | $5.21B | $5.46B | $4.72B | · | $4.72B | |
| Total Debt | $6.53B | $6.30B | · | $5.31B | $5.31B | $5.31B | · | $5.31B | $5.31B | $5.96B | · | $5.21B | $5.46B | $4.72B | · | $4.72B | |
| Retained Earnings | $-699M | $-392M | $-296M | $-593M | $-206M | $51M | $109M | $-650M | $1.31B | $1.46B | · | $1.13B | $1.43B | $1.77B | · | $1.71B | |
| Treasury Stock | · | · | · | · | · | · | · | $5M | · | · | · | $0 | $0 | $0 | · | $3M | |
| AOCI | $-2.85B | $-2.87B | $-2.83B | $-2.71B | $-2.71B | $-2.94B | $-3.16B | $-2.81B | $-2.92B | $-2.90B | · | $-2.62B | $-2.54B | $-2.57B | · | $-2.72B | |
| Stockholders' Equity | $7.69B | $7.98B | $7.98B | $7.74B | $8.10B | $8.13B | $7.94B | $7.49B | $9.34B | $9.49B | · | $9.41B | $9.80B | $10.10B | · | $9.84B | |
| Liabilities + Equity | $30.56B | $29.64B | $29.53B | $27.44B | $28.48B | $28.06B | $27.68B | $27.17B | $29.62B | $30.24B | · | $27.62B | $28.77B | $31.91B | · | $30.99B |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $67M | $42M | $49M | $36M | $31M | $37M | $36M | $31M | $30M | $24M | $38M | $29M | $32M | $26M | $28M | $24M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $38M | $-47M | |
| Amort. of Intangibles | $55M | $48M | $48M | $47M | $49M | $48M | $50M | $56M | $60M | $60M | $60M | $62M | $70M | $71M | $73M | $71M | |
| Restructuring | · | · | $0 | $0 | $0 | $0 | $32M | $8M | $3M | $18M | $38M | $17M | $10M | $3M | $28M | $9M | |
| Operating Cash Flow | $484M | $-10M | $771M | $678M | $361M | $-35M | $599M | $482M | $407M | $24M | $522M | $393M | $296M | $134M | $375M | $179M | |
| CapEx | $59M | $55M | $63M | $57M | $58M | $51M | $56M | $63M | $66M | $60M | · | · | · | · | · | · | |
| Investing Cash Flow | $-336M | $-840M | $-83M | $-82M | $696M | $-84M | $480M | $-72M | $-84M | $-74M | $-55M | $5M | $-974M | $-61M | $-115M | $-77M | |
| Net Debt Issued | · | $-551M | · | · | · | $-1M | · | · | · | $-1M | · | · | · | $-1M | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $6M | |
| Stock Repurchased | $450M | $300M | $350M | $600M | $500M | $200M | $395M | $205M | $200M | $101M | $196M | $350M | $350M | $104M | $440M | $369M | |
| Net Stock Activity | · | $-300M | · | · | · | $-200M | · | · | · | $-101M | · | · | · | $-104M | · | · | |
| Dividends Paid | $90M | $88M | $89M | $90M | $91M | $88M | $89M | $89M | $90M | $86M | $87M | $88M | $90M | $87M | $89M | $91M | |
| Financing Cash Flow | $-408M | $-203M | $375M | $-511M | $-824M | $24M | $-664M | $-159M | $-1.19B | $1.56B | $-472M | $-615M | $340M | $-453M | $-336M | $-419M | |
| Free Cash Flow | · | $-65M | · | · | · | $-86M | · | · | · | · | · | · | · | · | · | · | |
| Levered FCF | · | $-128M | · | · | · | $-137M | · | · | · | · | · | · | · | · | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 14.8% | 18.6% | · | 18.3% | 16.3% | 19.4% | · | -33.5% | 9.4% | 12.0% | · | 7.3% | 6.6% | 12.7% | · | 7.9% | |
| Net Margin | 9.3% | 12.3% | · | 13.3% | 14.6% | 10.6% | · | -73.2% | 6.2% | 8.1% | · | 6.3% | 4.3% | 9.0% | · | 9.7% | |
| Pretax Margin | 11.8% | 15.6% | · | 17.1% | 13.8% | 13.6% | · | -87.1% | 7.4% | 10.3% | · | 7.6% | 5.6% | 11.4% | · | 9.5% | |
| EBITDA Margin | 14.8% | 18.6% | · | 18.3% | 16.3% | 19.4% | · | -33.5% | 9.4% | 12.0% | · | 7.3% | 6.6% | 12.7% | · | 7.9% | |
| ROA | 0.78% | 1.0% | · | 1.1% | 1.1% | 0.81% | · | -6.1% | 0.48% | 0.61% | · | 0.46% | 0.31% | 0.63% | · | 0.56% | |
| ROE | 2.9% | 3.7% | · | 4.0% | 3.8% | 2.7% | · | -19.8% | 1.5% | 1.9% | · | 1.4% | 0.93% | 1.9% | · | 1.8% | |
| ROIC | 2.1% | 2.5% | · | 2.6% | 2.9% | 2.5% | · | -5.0% | 1.2% | 1.5% | · | 0.92% | 0.74% | 1.6% | · | 1.1% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.2 | · | 1.1 | 1.1 | 1.2 | · | 1.1 | 1.1 | 1.1 | · | 1.0 | 1.1 | 1.1 | · | 1.1 | |
| Quick Ratio | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.2 | · | 0.2 | |
| Debt / Equity | 0.8 | 0.8 | · | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.5 | · | 0.5 | |
| LT Debt / Equity | 0.8 | 0.8 | · | 0.6 | 0.6 | 0.6 | · | 0.7 | 0.6 | 0.6 | · | 0.5 | 0.5 | 0.4 | · | 0.5 | |
| Interest Coverage | 4.7 | 5.8 | · | 6.4 | 5.8 | 6.6 | · | -11.8 | 3.1 | 4.4 | · | 2.6 | 2.5 | 5.3 | · | 2.9 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.0 | 1.0 | · | 1.1 | 0.9 | 0.9 | · | 1.1 | 1.0 | 1.0 | · | 1.1 | 1.0 | 1.0 | · | 1.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $26.23 | $25.12 | · | $23.35 | $22.61 | $22.01 | · | $22.44 | $21.99 | $22.51 | · | $20.63 | $20.18 | $20.78 | · | $17.59 | |
| Cash Flow / Share | · | $-0.10 | · | · | · | $-0.35 | · | · | · | $0.23 | · | · | · | $1.24 | · | · | |
| Dividend / Share | $0.96 | $0.96 | $0.92 | $0.92 | $0.92 | $0.92 | $0.88 | $0.88 | $0.88 | $0.88 | $0.84 | $0.84 | $0.84 | $0.84 | $0.82 | $0.82 | |
| EPS (TTM) | $16.14 | $17.03 | · | $21.05 | $1.50 | $-0.46 | · | $-7.35 | $10.38 | $9.90 | · | $9.31 | $9.74 | $9.83 | · | $22.47 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $10.10B | $9.90B | · | $9.81B | $9.81B | $9.81B | · | $9.81B | $9.69B | $9.58B | · | $9.29B | $9.08B | $8.95B | · | $8.85B | |
| Net Income TTM | $1.56B | $1.67B | · | $2.12B | $137M | $-53M | · | $-722M | $1.09B | $1.04B | · | $1.02B | $1.07B | $1.09B | · | $2.82B | |
| P/E | 16.2 | 17.1 | · | 16.4 | 204.3 | -734.7 | · | -40.1 | 25.3 | 27.8 | · | 22.4 | 24.2 | 23.6 | · | 8.9 | |
| Earnings Yield | 6.2% | 5.9% | · | 6.1% | 0.49% | -0.14% | · | -2.5% | 4.0% | 3.6% | · | 4.5% | 4.1% | 4.2% | · | 11.2% | |
| Payout Ratio | · | 29.6% | · | · | · | 37.5% | · | · | · | 45.3% | · | · | · | 42.9% | · | · | |
| Annual Payout | $357M | $358M | · | $358M | $357M | $356M | · | $352M | $351M | $351M | · | $354M | $357M | $358M | · | $379M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $9.71B | $9.93B | $9.48B | $8.87B | $9.00B |
| Operating Margin % | 23.0% | 6.3% | 14.4% | 13.3% | 24.5% |
| Net Income | $1.60B | $-98M | $1.05B | $1.01B | $4.22B |
| Diluted EPS | $16.26 | $-0.96 | $9.95 | $8.98 | $32.78 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.8 | 0.7 | 0.5 | 0.5 | 0.3 |
| Current Ratio | 1.2 | 1.2 | 1.1 | 1.1 | 1.3 |
| Quick Ratio | 0.4 | 0.3 | 0.3 | 0.2 | 0.5 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $1.55B | · | · | · | · |
Institutional owners (13F) 741 filers · $28.3B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 73 (-38 vs prior Q) | 92 (-15 vs prior Q) | 240 (+6 vs prior Q) | 277 (+1 vs prior Q) | +2.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $3,686,204,898 | 11,217,909 | 13.03% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $2,256,971,395 | 5,491,383 | 7.98% | Shares |
| BlackRock, Inc. | $2,173,030,845 | 8,314,002 | 7.68% | Shares |
| Dodge & Cox | $2,097,596,707 | 8,025,392 | 7.41% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,613,755,881 | 6,174,220 | 5.70% | Shares |
| HARRIS ASSOCIATES L P | $1,544,182,709 | 5,908,033 | 5.46% | Shares |
| Artisan Partners Limited Partnership | $1,448,263,716 | 5,541,048 | 5.12% | Shares |
| First Eagle Investment Management, LLC | $1,169,855,476 | 4,475,860 | 4.13% | Shares |
| STATE STREET CORP | $1,132,048,480 | 4,315,443 | 4.00% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,062,393,775 | 4,064,712 | 3.76% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $677,366,967 | 2,601,654 | 2.39% | Shares |
| FMR LLC | $579,168,562 | 2,215,896 | 2.05% | Shares |
| Invesco Ltd. | $567,611,596 | 2,171,679 | 2.01% | Shares |
| NORGES BANK | $374,769,556 | 1,433,866 | 1.32% | Shares |
| Burgundy Asset Management Ltd. | $286,750,382 | 877,476 | 1.01% | Shares |
| NORTHERN TRUST CORP | $274,198,040 | 1,049,080 | 0.97% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $267,188,358 | 1,022,261 | 0.94% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $262,892,564 | 1,005,711 | 0.93% | Shares |
| JANUS HENDERSON GROUP PLC | $262,722,761 | 903,762 | 0.93% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $253,119,757 | 870,725 | 0.89% | Shares |
| BANK OF MONTREAL /CAN/ | $243,959,396 | 933,387 | 0.86% | Shares |
| MORGAN STANLEY | $218,098,259 | 834,440 | 0.77% | Shares |
| GOLDMAN SACHS GROUP INC | $201,057,569 | 769,245 | 0.71% | Shares |
| ABRAMS CAPITAL MANAGEMENT, L.P. | $188,390,007 | 720,779 | 0.67% | Shares |
| ALLIANCEBERNSTEIN L.P. | $185,185,493 | 637,033 | 0.65% | Shares |
| AMERICAN CENTURY COMPANIES INC | $175,367,658 | 670,954 | 0.62% | Shares |
| Legal & General Group Plc | $170,504,985 | 652,351 | 0.60% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $164,453,220 | 629,197 | 0.58% | Shares |
| ALTRINSIC GLOBAL ADVISORS LLC | $155,926,809 | 596,575 | 0.55% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $138,689,718 | 530,626 | 0.49% | Shares |
| Bank of New York Mellon Corp | $133,066,824 | 509,113 | 0.47% | Shares |
| BANK OF AMERICA CORP /DE/ | $118,655,786 | 453,976 | 0.42% | Shares |
| FRANKLIN RESOURCES INC | $116,845,142 | 447,049 | 0.41% | Shares |
| Brandywine Global Investment Management, LLC | $107,876,423 | 328,291 | 0.38% | Shares |
| CITADEL ADVISORS LLC | $100,054,266 | 382,807 | 0.35% | Shares |
| DEUTSCHE BANK AG\ | $98,029,433 | 375,060 | 0.35% | Shares |
| River Road Asset Management, LLC | $97,201,673 | 371,893 | 0.34% | Shares |
| Amundi | $97,037,533 | 371,265 | 0.34% | Shares |
| SEI INVESTMENTS CO | $95,218,256 | 364,301 | 0.34% | Shares |
| PARNASSUS INVESTMENTS, LLC | $92,833,135 | 355,179 | 0.33% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $88,603,907 | 338,998 | 0.31% | Shares |
| CRAWFORD INVESTMENT COUNSEL INC | $86,105,198 | 329,438 | 0.30% | Shares |
| JPMORGAN CHASE & CO | $85,446,699 | 322,804 | 0.30% | Shares |
| BRANDES INVESTMENT PARTNERS, LP | $80,467,735 | 307,861 | 0.28% | Shares |
| UBS Group AG | $72,424,320 | 277,095 | 0.26% | Shares |
| Swiss National Bank | $69,673,401 | 266,570 | 0.25% | Shares |
| Nuveen, LLC | $69,671,834 | 266,564 | 0.25% | Shares |
| HSBC HOLDINGS PLC | $67,787,916 | 259,766 | 0.24% | Shares |
| JOHNSON INVESTMENT COUNSEL INC | $64,548,065 | 246,960 | 0.23% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $63,099,945 | 241,420 | 0.22% | Shares |
Activists & 5%+ owners 9 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Undisclosed reporting person, Undisclosed reporting person | May 31, 2017 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person | April 5, 2016 | · | Initial filing | Passive investment | SEC |
| Towers Watson & Co. | July 7, 2015 | · | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person, Undisclosed reporting person | June 30, 2015 | · | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person, Undisclosed reporting person | April 30, 2013 | · | Initial filing | Board campaign | SEC |
| Undisclosed reporting person, Undisclosed reporting person | March 1, 2013 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Feb. 26, 2013 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | April 13, 2012 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Sept. 3, 2010 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 110 insiders · 52 officers · 31 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| John J Haley | Chief Executive Officer | Dec. 31, 2021 F | 351,840 | 0 | 0 | $0 |
| Dominic Casserley | President and Deputy CEO | May 11, 2016 S | 83,755 | 0 | 0 | $0 |
| Stephen Patrick Hearn | Group Deputy CEO | March 2, 2015 S | 66,452 | 0 | 0 | $0 |
| Vic Krauze | Chairman & CEO, WNA | May 2, 2013 S | 60,030 | 0 | 0 | $0 |
| David Margrett | CEO, Willis Intl | May 6, 2011 S | 36,454 | 0 | 0 | $0 |
| Grahame J Millwater | Pres, Chrmn & CEO, Willis Glbl | May 6, 2011 S | 139,833 | 0 | 0 | $0 |
| Donald Bailey | Former CEO, WNA | Dec. 7, 2010 S | 31,887 | 0 | 0 | $0 |
| Dominic Samengo-Turner | CEO, Global Markets | Nov. 5, 2007 A | · | 0 | 0 | $0 |
| Joseph J Trotti | CEO, Global Specialties | Nov. 5, 2007 A | · | 0 | 0 | $0 |
| Mario Vitale | CEO North America | Aug. 7, 2006 X | 101,101 | 0 | 0 | $0 |
| Janet Coolick | Group CEO | June 18, 2004 S | 24,583 | 0 | 0 | $0 |
| RATCLIFFE JAMES A | CEO of Global Specialities | May 6, 2004 X | 69,754 | 0 | 0 | $0 |
| Michael J Burwell | Chief Financial Officer | Aug. 10, 2021 A | 23,322 | 0 | 0 | $0 |
| Roger F Millay | Former Chief Financial Officer | July 13, 2017 A | 22,679 | 0 | 0 | $0 |
| Michael K Neborak | Chief Financial Officer | Dec. 16, 2013 A | 37,065 | 0 | 0 | $0 |
| Stephen Edward Wood | Interim CFO | May 6, 2010 S | 4,029 | 0 | 0 | $0 |
| Patrick Regan | Group COO and CFO | Feb. 3, 2010 A | 82,442 | 0 | 0 | $0 |
| Lucy Clarke | President of Risk & Broking | July 15, 2026 A | 22,759 | 2 | 0 | $1,496,271 |
| Michael F Crowley | President, Willis HRH | Nov. 3, 2008 A | 0 | 0 | 0 | $0 |
| Gioia Ghezzi | Chief Operating Officer | Dec. 26, 2012 A | 3,726 | 0 | 0 | $0 |
| Thomas Colraine | VC & Co-COO | Dec. 21, 2006 X | 164,356 | 0 | 0 | $0 |
| Kristy D Banas | Chief Human Resources Officer | July 15, 2026 A | 11,366 | 0 | 0 | $0 |
| Imran Ahmed Qureshi | Global Head of Geographies | July 15, 2026 A | 2,359 | 0 | 0 | $0 |
| Anne Pullum | Co-Head of Corporate Dev. | July 15, 2026 A | 22,448 | 0 | 0 | $0 |
| Matthew Furman | General Counsel | July 15, 2026 A | 35,561 | 0 | 1 | $-912,000 |
| Joseph Stephen Kurpis | PAO and Controller | July 15, 2026 A | 1,693 | 0 | 0 | $0 |
| Thomson-Hall Pamela | Head of International | Oct. 15, 2025 A | 5,840 | 0 | 0 | $0 |
| Adam Garrard | Head of Risk & Broking | July 22, 2024 F | 14,277 | 0 | 0 | $0 |
| Anne Donovan Bodnar | Chief Administrative Officer | April 19, 2023 F | 9,104 | 0 | 0 | $0 |
| Gene H Wickes | Head of Benefits Deliv & Admin | Jan. 17, 2023 A | 61,563 | 0 | 0 | $0 |
| Joseph Gunn | Head of North America | Aug. 10, 2021 A | 23,727 | 0 | 0 | $0 |
| Nicolas Aubert | Head of Great Britain | July 20, 2021 F | 16,508 | 0 | 0 | $0 |
| Susan Dorrance Davies | PAO and Controller | April 15, 2021 A | 1,708 | 0 | 0 | $0 |
| Todd J. Jones | Head- Corporate Risk & Broking | Aug. 8, 2019 A | 20,929 | 0 | 0 | $0 |
| David Shalders | Head- Operations & Technology | March 15, 2019 F | 12,961 | 0 | 0 | $0 |
| Paul G Morris | Head of Western Europe | March 15, 2019 F | 35,016 | 0 | 0 | $0 |
| Timothy D Wright | Head, Corporate Risk & Broking | March 7, 2016 S | 26,615 | 0 | 0 | $0 |
| Adam L. Rosman | Group General Counsel | June 2, 2014 S | 15,503 | 0 | 0 | $0 |
| Martin J Sullivan | Deputy Chairman | Dec. 26, 2012 A | 95,053 | 0 | 0 | $0 |
| Peter C Hearn | Chairman, Willis Re | May 7, 2012 S | 66,723 | 0 | 0 | $0 |
| Adam Grey Ciongoli | General Counsel | May 7, 2012 S | 28,804 | 0 | 0 | $0 |
| Sarah J Turvill | Chairman, Willis International | May 1, 2012 S | 111,508 | 0 | 0 | $0 |
| Susan A Sztuka | Group HR Director | May 5, 2010 S | 13,937 | 0 | 0 | $0 |
| Allan Crawford Adamson Gribben | Group Sales and Marketing Dir. | June 25, 2009 A | 12,618 | 0 | 0 | $0 |
| Christopher M London | Global Sales & Mktg Director | May 31, 2007 D | 50,365 | 0 | 0 | $0 |
| Jeanette Scampas | EVP, Information Systems | March 14, 2007 A | · | 0 | 0 | $0 |
| William C Bartholomay | Group Vice Chairman | March 14, 2007 A | 5,968 | 0 | 0 | $0 |
| Richard J S Bucknall | Vice Chairman | Feb. 12, 2007 S | 41,909 | 0 | 0 | $0 |
| Eric Dinallo | Group General Counsel | June 20, 2006 A | · | 0 | 0 | $0 |
| Stephen G Maycock | Group Human Resources Director | June 20, 2006 A | 52,455 | 0 | 0 | $0 |
| William P Bowden JR | Group General Counsel | March 19, 2004 A | · | 0 | 0 | $0 |
| Joseph M Mcsweeny | Chairman and Chief Executive | Nov. 10, 2003 X | 201,069 | 0 | 0 | $0 |
| Jacqueline Hunt | Director | May 20, 2026 A | 2,272 | 0 | 0 | $0 |
| Stephen M. Chipman | Director | May 20, 2026 A | 2,272 | 0 | 0 | $0 |
| Hammond Michael P. | Director | May 20, 2026 A | 3,089 | 1 | 0 | $67,205 |
| Fumbi F. Chima | Director | May 20, 2026 A | 4,315 | 0 | 0 | $0 |
| Inga K Beale | Director | May 20, 2026 A | 2,848 | 0 | 0 | $0 |
| Michelle R Swanback | Director | May 20, 2026 A | 2,848 | 0 | 0 | $0 |
| Fredric J Tomczyk | Director | May 20, 2026 A | 2,272 | 0 | 0 | $0 |
| Paul C Reilly | Director | May 20, 2026 A | 3,146 | 0 | 0 | $0 |
| Paul D Thomas | Director | May 15, 2025 F | 13,043 | 0 | 0 | $0 |
| Brendan R Oneill | Director | May 17, 2023 F | 7,023 | 0 | 0 | $0 |
| Linda D Rabbitt | Director | May 17, 2023 F | 14,791 | 0 | 0 | $0 |
| Victor F Ganzi | Director | June 8, 2022 F | 21,378 | 0 | 0 | $0 |
| Wilhelm Zeller | Director | May 11, 2022 F | 8,784 | 0 | 0 | $0 |
| Anna C Catalano | Director | May 11, 2022 F | 5,976 | 0 | 0 | $0 |
| Wendy E Lane | Director | May 11, 2022 F | 7,648 | 0 | 0 | $0 |
| Jaymin B Patel | Director | Dec. 29, 2021 F | 5,429 | 0 | 0 | $0 |
| James F Mccann | Director | Aug. 13, 2018 A | 676 | 0 | 0 | $0 |
| Jeremy Hanley | Director | Aug. 10, 2015 A | 24,645 | 0 | 0 | $0 |
| Joseph A Califano | Director | May 7, 2013 S | 11,770 | 0 | 0 | $0 |
| Jeffrey B/ Lane | Director | May 7, 2013 S | 8,942 | 0 | 0 | $0 |
| Joseph J Plumeri | Director | March 7, 2013 A | 2,332,709 | 0 | 0 | $0 |
| William W Bradley | Director | May 7, 2012 A | 15,485 | 0 | 0 | $0 |
| Eric Friberg | Director | May 5, 2008 A | · | 0 | 0 | $0 |
| Gordon M Bethune | Director | April 30, 2007 A | · | 0 | 0 | $0 |
| Perry Golkin | Director | Feb. 19, 2007 A | 1,194,987 | 0 | 0 | $0 |
| Paul Hazen | Director | Aug. 21, 2006 A | · | 0 | 0 | $0 |
| Todd A Fisher | Director | March 22, 2004 S | 8,725,790 | 0 | 0 | $0 |
| George R Roberts | Director | March 22, 2004 S | 8,717,790 | 0 | 0 | $0 |
| Henry R Kravis | Director | March 22, 2004 S | 8,717,790 | 0 | 0 | $0 |
| Edward A Gilhuly | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| Johannes P Huth | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| Michael T Tokarz | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| James H. Greene Jr. | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| Alexandar Navab JR | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| Paul E Raether | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| Michael W Michelson | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| KKR 1996 OVERSEAS LTD | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| KKR ASSOCIATES II 1996 L P | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| KKR 1996 FUND OVERSEAS L P | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| PROFIT SHARING OVERSEAS L P | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| Scott M Stuart | 10% owner | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
| Neil A Richarrdson | 10% owner | May 15, 2003 S | 35,543,328 | 0 | 0 | $0 |
| Andrew Jay Krasner | · | Aug. 13, 2026 A | 4,475 | 0 | 0 | $0 |
| Julie Jarecke Gebauer | · | Aug. 13, 2026 A | 78,034 | 0 | 0 | $0 |
| Carl Aaron Hess | · | Aug. 13, 2026 A | 117,548 | 1 | 0 | $510,160 |
| Alexis Faber | · | Aug. 10, 2026 S | 10,752 | 0 | 1 | $-250,171 |
| James K Foreman | · | April 5, 2016 A | 25,007 | 0 | 0 | $0 |
| John Greene | · | Jan. 4, 2016 A | 14,805 | 0 | 0 | $0 |
| Francisco Luzon Lopez | · | Jan. 4, 2016 F | 3,920 | 0 | 0 | $0 |
| Michael J. Somers | · | Jan. 4, 2016 F | 3,762 | 0 | 0 | $0 |
| Robyn S Kravit | · | Jan. 4, 2016 F | 4,729 | 0 | 0 | $0 |
| Roy Gardner | · | Jan. 4, 2016 F | 7,287 | 0 | 0 | $0 |
| Douglas B Roberts | · | Jan. 4, 2016 F | 7,845 | 0 | 0 | $0 |
| Celia Brown | · | Jan. 4, 2015 A | 16,023 | 0 | 0 | $0 |
| Scott C Nuttall | · | Feb. 20, 2006 A | 1,177,487 | 0 | 0 | $0 |
| James R Fisher | · | Feb. 20, 2006 A | 35,669 | 0 | 0 | $0 |
| John M Pelly | · | Aug. 6, 2004 X | 211,893 | 0 | 0 | $0 |
| Robert I Macdonnell | · | Feb. 25, 2004 S | 11,698,405 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 112 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| KBWP · Invesco Exchange-Traded Fund Trust … | 3.68% | 34,869 SH | Oct. 2, 2026 | Daily |
| CVGD · Elevation Series Trust | 2.47% | 10,178 NS | July 31, 2026 | N-PORT |
| NUMV · Nushares ETF Trust | 1.68% | 22,202 NS | July 31, 2026 | N-PORT |
| CZA · Invesco Exchange-Traded Fund Trust | 1.44% | 9,947 SH | Oct. 2, 2026 | Daily |
| RSPF · Invesco Exchange-Traded Fund Trust | 1.30% | 16,622 SH | Oct. 2, 2026 | Daily |
| ESIM · Strategy Shares | 0.87% | 466 NS | July 31, 2026 | N-PORT |
| PID · Invesco Exchange-Traded Fund Trust | 0.58% | 16,627 SH | Oct. 2, 2026 | Daily |
| VFMV · VANGUARD WELLINGTON FUND | 0.51% | 8,114 SH | Aug. 19, 2026 | Daily |
| IYF · iShares Trust | 0.45% | 63,027 SH | Sept. 11, 2026 | Daily |
| VOE · VANGUARD INDEX FUNDS | 0.43% | 606,706 SH | Aug. 19, 2026 | Daily |
| USMV · iShares Trust | 0.37% | 276,234 SH | Sept. 11, 2026 | Daily |
| IWS · iShares Trust | 0.29% | 141,148 SH | Sept. 11, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.29% | 154,024 SH | Aug. 19, 2026 | Daily |
| VFQY · VANGUARD WELLINGTON FUND | 0.28% | 4,996 SH | Aug. 19, 2026 | Daily |
| FAS · Direxion Shares ETF Trust | 0.27% | 18,610 NS | July 31, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.24% | 2,046,804 SH | Aug. 19, 2026 | Daily |
| SIZE · iShares Trust | 0.24% | 3,243 SH | Sept. 11, 2026 | Daily |
| IMCV · iShares Trust | 0.22% | 8,086 SH | Sept. 11, 2026 | Daily |
| IWR · iShares Trust | 0.22% | 386,810 SH | Sept. 11, 2026 | Daily |
| ACWV · iShares, Inc. | 0.21% | 22,370 SH | Sept. 11, 2026 | Daily |
| DFVX · Dimensional ETF Trust | 0.20% | 3,195 NS | July 31, 2026 | N-PORT |
| IMCB · iShares Trust | 0.20% | 10,636 SH | Sept. 11, 2026 | Daily |
| EUSA · iShares, Inc. | 0.19% | 11,634 SH | Sept. 11, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.19% | 622,036 SH | Oct. 2, 2026 | Daily |
| IXG · iShares Trust | 0.19% | 4,106 SH | Sept. 11, 2026 | Daily |
| IMCG · iShares Trust | 0.18% | 22,520 SH | Sept. 11, 2026 | Daily |
| BSCR · Invesco Exchange-Traded Self-Indexe… | 0.17% | 7,884,000 | Oct. 2, 2026 | Daily |
| EVUS · iShares Trust | 0.17% | 2,020 SH | Sept. 11, 2026 | Daily |
| XOEF · iShares Trust | 0.17% | 118 SH | Sept. 11, 2026 | Daily |
| ESMV · iShares Trust | 0.17% | 41 SH | Sept. 11, 2026 | Daily |
| DIVB · iShares Trust | 0.16% | 10,508 SH | Sept. 11, 2026 | Daily |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.16% | 210,000 | Oct. 1, 2026 | Daily |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.14% | 4,981,000 | Oct. 2, 2026 | Daily |
| USXF · iShares Trust | 0.12% | 5,610 SH | Sept. 11, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.11% | 7,342 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.11% | 10,550 NS | July 31, 2026 | N-PORT |
| DFLV · Dimensional ETF Trust | 0.10% | 20,477 NS | July 31, 2026 | N-PORT |
| IVE · iShares Trust | 0.10% | 156,714 SH | Sept. 11, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.10% | 138,624 NS | July 31, 2026 | N-PORT |
| ESGU · iShares Trust | 0.10% | 54,024 SH | Sept. 11, 2026 | Daily |
| IUS · Invesco Exchange-Traded Self-Indexe… | 0.10% | 3,137 SH | Oct. 2, 2026 | Daily |
| IUSV · iShares Trust | 0.09% | 82,732 SH | Sept. 11, 2026 | Daily |
| DGRO · iShares Trust | 0.09% | 125,474 SH | Sept. 11, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.09% | 1,505 NS | July 31, 2026 | N-PORT |
| VTV · VANGUARD INDEX FUNDS | 0.09% | 897,202 SH | Aug. 19, 2026 | Daily |
| SUSL · iShares Trust | 0.09% | 3,319 SH | Sept. 11, 2026 | Daily |
| QUAL · iShares Trust | 0.09% | 128,360 SH | Sept. 11, 2026 | Daily |
| DSI · iShares Trust | 0.08% | 14,515 SH | Sept. 11, 2026 | Daily |
| IWD · iShares Trust | 0.08% | 210,043 SH | Sept. 11, 2026 | Daily |
| VOOV · VANGUARD ADMIRAL FUNDS | 0.08% | 21,703 SH | Aug. 19, 2026 | Daily |
| ACVF · ETF Opportunities Trust | 0.08% | 343 NS | July 31, 2026 | N-PORT |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.07% | 56,970 SH | Aug. 19, 2026 | Daily |
| NULV · Nushares ETF Trust | 0.07% | 4,415 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.06% | 23,001 NS | July 31, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.06% | 1,671 SH | Oct. 2, 2026 | Daily |
| PRF · Invesco Exchange-Traded Fund Trust | 0.06% | 18,990 SH | Oct. 2, 2026 | Daily |
| TOPC · iShares Trust | 0.06% | 58 SH | Sept. 11, 2026 | Daily |
| USCL · iShares Trust | 0.06% | 4,983 SH | Sept. 11, 2026 | Daily |
| CATH · Global X Funds | 0.06% | 2,150 NS | July 31, 2026 | N-PORT |
| XYLD · Global X Funds | 0.06% | 5,316 NS | July 31, 2026 | N-PORT |
| XVV · iShares Trust | 0.05% | 1,084 SH | Sept. 11, 2026 | Daily |
| CHRI · Global X Funds | 0.05% | 12 NS | July 31, 2026 | N-PORT |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.05% | 16,037 SH | Oct. 2, 2026 | Daily |
| XRMI · Global X Funds | 0.05% | 71 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.05% | 29,265 NS | July 31, 2026 | N-PORT |
| XCLR · Global X Funds | 0.05% | 5 NS | July 31, 2026 | N-PORT |
| VOTE · TCW ETF Trust | 0.05% | 1,533 NS | July 31, 2026 | N-PORT |
| XYLG · Global X Funds | 0.05% | 87 NS | July 31, 2026 | N-PORT |
| IVV · iShares Trust | 0.05% | 1,190,398 SH | Sept. 11, 2026 | Daily |
| SPUU · Direxion Shares ETF Trust | 0.05% | 357 NS | July 31, 2026 | N-PORT |
| ILCV · iShares Trust | 0.05% | 1,921 SH | Sept. 11, 2026 | Daily |
| ILCB · iShares Trust | 0.04% | 1,778 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.04% | 4,077 SH | Sept. 11, 2026 | Daily |
| IWB · iShares Trust | 0.04% | 65,116 SH | Sept. 11, 2026 | Daily |
| XTR · Global X Funds | 0.04% | 6 NS | July 31, 2026 | N-PORT |
| PBP · Invesco Exchange-Traded Fund Trust | 0.04% | 554 SH | Oct. 2, 2026 | Daily |
| PBUS · Invesco Exchange-Traded Fund Trust … | 0.04% | 16,342 SH | Oct. 2, 2026 | Daily |
| IWV · iShares Trust | 0.04% | 26,348 SH | Sept. 11, 2026 | Daily |
| QVML · Invesco Exchange-Traded Fund Trust … | 0.04% | 2,336 SH | Oct. 2, 2026 | Daily |
| ITOT · iShares Trust | 0.04% | 123,322 SH | Sept. 11, 2026 | Daily |
| ILCG · iShares Trust | 0.04% | 3,995 SH | Sept. 11, 2026 | Daily |
| VOO · VANGUARD INDEX FUNDS | 0.04% | 2,454,411 SH | Aug. 19, 2026 | Daily |
| VV · VANGUARD INDEX FUNDS | 0.04% | 110,308 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.04% | 15,560 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.04% | 21,339 SH | Aug. 19, 2026 | Daily |
| HCMT · Direxion Shares ETF Trust | 0.04% | 659 NS | July 31, 2026 | N-PORT |
| SPXL · Direxion Shares ETF Trust | 0.04% | 7,383 NS | July 31, 2026 | N-PORT |
| TOK · iShares Trust | 0.04% | 264 SH | Sept. 11, 2026 | Daily |
| PHDG · Invesco Actively Managed Exchange-T… | 0.03% | 73 SH | Oct. 2, 2026 | Daily |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.03% | 5,354 SH | Oct. 2, 2026 | Daily |
| URTH · iShares, Inc. | 0.03% | 8,566 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.03% | 2,998,642 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.03% | 7,952 SH | Aug. 19, 2026 | Daily |
| ACWI · iShares Trust | 0.03% | 30,566 SH | Sept. 11, 2026 | Daily |
| CRBN · iShares Trust | 0.02% | 835 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.02% | 80,717 SH | Aug. 19, 2026 | Daily |
| NULC · Nushares ETF Trust | 0.02% | 32 NS | July 31, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.01% | 4,203 NS | July 31, 2026 | N-PORT |
| GTO · Invesco Actively Managed Exchange-T… | 0.01% | 174,100 | Oct. 2, 2026 | Daily |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VUSB · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCRB · VANGUARD MALVERN FUNDS | · | · | July 15, 2026 | Daily |
| VSDB · VANGUARD MALVERN FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 13, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| VCEB · VANGUARD WORLD FUND | · | · | July 30, 2026 | Daily |
WTW Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
19 analysts · 2026-09-27Mean target $378.58 +31.2%
Latest News Recent headlines mentioning this company
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
No open signal right now — no card is filled, and that's honest.
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