Willis Towers Watson Public Limited Company
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
22.0323.4553.6935.8128.6225.1427.4914.0927.1424.00-44.6825.14
Price/Sales ratio
2.092.282.122.482.332.902.923.373.082.673.242.33
Price/Book Value ratio
4.013.931.682.002.012.562.532.292.732.664.302.01
Price/Cash Flow ratio
16.7236.0017.3223.5915.4424.2815.4314.7433.7318.8222.4815.44
Price/Free Cash Flow ratio
22.15102.9225.3841.7720.5933.8318.4016.3445.0522.9626.8620.59
Price/Earnings Growth ratio
-8.1211.47-0.910.421.090.49-6.300.11-0.582.053.541.09
Dividend Yield
2.63%3.16%1.18%1.36%1.53%1.25%1.26%1.23%1.34%1.38%0.83%1.25%
Profitability Indicator Ratios
Gross Profit Margin
39.13%39.77%38.84%38.86%37.44%41.78%39.93%50.57%40.83%43.64%68.79%37.44%
Operating Profit Margin
17.01%11.15%6.98%8.99%9.50%14.70%17.17%24.47%13.28%14.39%7.53%14.70%
Pretax Profit Margin
13.62%8.87%4.31%5.96%9.99%14.62%14.30%29.91%14.18%13.48%-8.61%14.62%
Net Profit Margin
9.52%9.74%3.95%6.92%8.16%11.55%10.65%23.96%11.38%11.12%-7.35%11.55%
Effective Tax Rate
30.69%-9.70%3.52%-20.44%15.98%18.83%23.76%19.91%15.42%16.81%43.07%15.98%
Return on Assets
2.34%1.97%1.03%1.75%2.14%2.93%2.58%6.16%3.17%3.62%-2.65%2.93%
Return On Equity
18.23%16.78%3.13%5.60%7.05%10.18%9.20%16.25%10.07%11.08%-8.05%10.18%
Return on Capital Employed
12.43%7.00%3.26%4.16%4.73%6.86%8.36%10.87%6.93%8.29%5.05%4.73%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1.14N/A
Quick Ratio
0.180.150.240.250.240.240.260.501.071.061.140.24
Cash ratio
0.060.040.060.060.060.050.100.310.080.110.100.06
Days of Sales Outstanding
100.22134.4096.2599.95102.00105.8393.9896.1398.2698.9993.31105.83
Days of Inventory outstanding
1.41K1.65K795.00884.83863.93907.92985.11904.49N/AN/AN/A907.92
Operating Cycle
1.51K1.78K891.26984.78965.931.01K1.07K1.00K98.2698.9993.311.01K
Days of Payables Outstanding
20.6611.878.8566.0916.6522.0555.6826.4222.8927.04N/A22.05
Cash Conversion Cycle
1.49K1.77K882.41918.68949.28991.701.02K974.2075.3771.9493.31991.70
Debt Ratios
Debt Ratio
0.140.170.120.130.140.150.140.130.140.170.190.14
Debt Equity Ratio
1.161.460.380.440.460.540.520.340.470.540.700.46
Long-term Debt to Capitalization
0.510.500.250.300.300.340.300.230.300.320.410.30
Total Debt to Capitalization
0.530.590.270.300.310.350.340.250.320.350.410.31
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A2.84N/A
Cash Flow to Debt Ratio
0.200.070.250.190.280.190.310.440.170.250.270.19
Company Equity Multiplier
7.778.503.043.203.283.463.562.633.173.053.623.28
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.120.060.120.100.150.110.180.220.090.140.140.11
Free Cash Flow / Operating Cash Flow Ratio
0.750.340.680.560.750.710.830.900.740.820.820.75
Cash Flow Coverage Ratio
0.200.070.250.190.280.190.310.440.170.250.270.19
Short Term Coverage Ratio
2.850.241.9010.146.923.421.823.363.242.06N/A3.42
Dividend Payout Ratio
58.01%74.26%63.78%48.76%44.02%31.51%34.73%17.34%36.57%33.36%-48.75%31.51%