Willis Towers Watson (WTW) FY2022 results: revenue $8.9 billion, down 1.5% on the year
Willis Towers Watson plc (WTW) reported revenue of $8.9 billion for fiscal 2022, the year ended 31 December 2022, down 1.5% on the year before. Net income was $1.0 billion, down 76.1%, and diluted earnings per share $8.98. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.
Revenue
$8.9 billion
-1.5% on the year
FY2015FY2022
Operating margin
13.3%
24.5% a year earlier
FY2015FY2022
Net income
$1.0 billion
-76.1% on the year
FY2015FY2022
Diluted EPS
$8.98
-72.6% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
812
2,061
1,774
-60.6%
Cash from investing
-173
2,570
-160
Cash from financing
-3,445
-3,114
378
Depreciation and amortisation
567
650
770
-12.8%
Share-based compensation
99.0
101
90.0
-2.0%
Buybacks
3,530
1,627
0.0
+117.0%
Dividends paid
369
374
346
-1.3%
Dividend per share
$3.28
$3.02
$2.75
+8.6%
Diluted shares, weighted
112m
129m
130m
-13.2%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
10,016
13,260
10,820
-24.5%
Non-controlling interest
77.0
48.0
112
+60.4%
Debt
6,756
6,636
7,884
+1.8%
Operating lease liabilities
620
734
918
-15.5%
Finance lease liabilities
12.0
15.0
19.0
-20.0%
Other liabilities
14,288
14,277
18,778
+0.1%
Total liabilities and equity
31,769
34,970
38,531
-9.2%
Fixed assets
718
851
1,014
-15.6%
Goodwill
10,173
10,183
10,392
-0.1%
Intangible assets
2,273
2,555
2,989
-11.0%
Investments
0.0
200
n/a
Cash and equivalents
1,262
4,486
2,039
-71.9%
Receivables
2,387
2,370
2,408
+0.7%
Other assets
14,956
14,325
19,689
+4.4%
Total assets
31,769
34,970
38,531
-9.2%
10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.