Willis Towers Watson (WTW) FY2021 results: revenue $9.0 billion, up 4.4% on the year
Willis Towers Watson plc (WTW) reported revenue of $9.0 billion for fiscal 2021, the year ended 31 December 2021, up 4.4% on the year before. Net income was $4.2 billion, up 323.9%, and diluted earnings per share $32.78. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.
Revenue
$9.0 billion
+4.4% on the year
FY2014FY2021
Operating margin
24.5%
10.0% a year earlier
FY2014FY2021
Net income
$4.2 billion
+323.9% on the year
FY2014FY2021
Diluted EPS
$32.78
+328.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,061
1,774
1,081
+16.2%
Cash from investing
2,570
-160
-1,614
Cash from financing
-3,114
378
455
Depreciation and amortisation
650
770
729
-15.6%
Share-based compensation
101
90.0
74.0
+12.2%
Buybacks
1,627
0.0
150
Dividends paid
374
346
329
+8.1%
Dividend per share
$3.02
$2.75
$2.60
+9.8%
Diluted shares, weighted
129m
130m
130m
-0.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
13,260
10,820
10,249
+22.6%
Non-controlling interest
48.0
112
120
-57.1%
Redeemable equity
n/a
n/a
0.0
Debt
6,636
7,884
8,017
-15.8%
Operating lease liabilities
734
918
964
-20.0%
Finance lease liabilities
15.0
19.0
22.0
-21.1%
Other liabilities
14,277
18,778
16,054
-24.0%
Total liabilities and equity
34,970
38,531
35,426
-9.2%
Fixed assets
851
1,014
1,046
-16.1%
Goodwill
10,183
10,392
10,385
-2.0%
Intangible assets
2,555
2,989
3,478
-14.5%
Investments
200
n/a
n/a
Cash and equivalents
4,486
2,039
887
+120.0%
Receivables
2,370
2,408
2,621
-1.6%
Other assets
14,325
19,689
17,009
-27.2%
Total assets
34,970
38,531
35,426
-9.2%
10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.