WILLIS TOWERS WATSON FRANCE : revenue, balance sheet and financial ratios

WILLIS TOWERS WATSON FRANCE is a French company founded 126 years ago, specialized in the sector Activités des agents et courtiers d'assurances. Based in PUTEAUX (92800), this company of category ETI shows in 2024 a revenue of 429.8 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - WILLIS TOWERS WATSON FRANCE (SIREN 311248637)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 429 820 832 € 410 605 059 € 383 162 480 € 373 705 966 € 411 943 652 € 416 456 678 € 398 052 657 € 319 495 395 € 303 696 342 €
Net income 28 493 939 € 17 805 950 € 63 287 636 € 110 379 555 € 46 606 975 € 126 957 610 € 80 510 004 € 28 977 867 € 58 387 468 €
EBITDA 36 356 898 € 22 871 139 € 37 635 755 € 45 120 092 € 45 858 144 € 36 437 993 € 29 747 495 € 8 033 068 € 1 317 012 €
Net margin 6.6% 4.3% 16.5% 29.5% 11.3% 30.5% 20.2% 9.1% 19.2%

Revenue and income statement

In 2024, WILLIS TOWERS WATSON FRANCE achieves revenue of 429.8 M€. Revenue is growing positively over 9 years (CAGR: +4.4%). Vs 2023: +5%. After deducting consumption (0 €), gross margin stands at 429.8 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 36.4 M€, representing 8.5% of revenue. Positive scissor effect: EBITDA margin improves by +2.9 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 28.5 M€, i.e. 6.6% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

429 820 832 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

429 820 832 €

EBITDA (2024) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

36 356 898 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

20 879 112 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

28 493 939 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

8.5%

Loading income statement...

Chart evolution

Show :

Assets

Loading data...

Liabilities

Loading data...

Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 43%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 24%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

42.799%

Financial autonomy (2024) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

23.792%

Cash flow / Revenue (2024) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

11.742%

Repayment capacity (2024) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

2.848

Asset age ratio (2024) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

18.4%

Solvency indicators evolution
WILLIS TOWERS WATSON FRANCE

Sector positioning

Debt ratio
42.8 2024
2022
2023
2024
Q1: 0.0
Med: 7.61
Q3: 47.45
Average +11 pts over 3 years

In 2024, the debt ratio of WILLIS TOWERS WATSON FRANCE (42.80) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
23.79% 2024
2022
2023
2024
Q1: 13.11%
Med: 47.63%
Q3: 76.27%
Average

In 2024, the financial autonomy of WILLIS TOWERS WATSON FRANCE (23.8%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
2.85 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.12 years
Q3: 1.71 years
Average

In 2024, the repayment capacity of WILLIS TOWERS WATSON FRANCE (2.85) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 120.86. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 6.7x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2024) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

120.856

Interest coverage (2024) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

6.651

Liquidity indicators evolution
WILLIS TOWERS WATSON FRANCE

Sector positioning

Liquidity ratio
120.86 2024
2022
2023
2024
Q1: 123.28
Med: 242.89
Q3: 571.56
Average

In 2024, the liquidity ratio of WILLIS TOWERS WATSON FRANCE (120.86) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
6.65x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 2.2x
Excellent

In 2024, the interest coverage of WILLIS TOWERS WATSON FRANCE (6.7x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 564 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 1161 days. Excellent situation: suppliers finance 597 days of the operating cycle (retail model). Overall, WCR represents 579 days of revenue, i.e. 691.5 M€ to permanently finance. Over 2016-2024, WCR increased by +125%, requiring additional financing.

Operating WCR (2024) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

691 487 158 €

Customer credit (2024) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

564 j

Supplier credit (2024) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

1161 j

Inventory turnover (2024) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

0 j

WCR in days of revenue (2024) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

579 j

WCR and payment terms evolution
WILLIS TOWERS WATSON FRANCE

Positioning of WILLIS TOWERS WATSON FRANCE in its sector

Comparison with sector Activités des agents et courtiers d'assurances

Valuation estimate

Based on 193 transactions of similar company sales (all years), the value of WILLIS TOWERS WATSON FRANCE is estimated at 160 158 014 € (range 46 436 792€ - 400 307 663€). With an EBITDA of 36 356 898€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.98x (in line with sector norms). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.

Estimated enterprise value 2024
193 transactions
46436k€ 160158k€ 400307k€
160 158 014 € Range: 46 436 792€ - 400 307 663€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
36 356 898 € × 1.2x
Estimation 44 015 615 €
11 368 789€ - 224 668 420€
Revenue Multiple 30%
429 820 832 € × 0.98x
Estimation 422 268 102 €
117 756 579€ - 785 345 451€
Net Income Multiple 20%
28 493 939 € × 2.0x
Estimation 57 348 880 €
27 127 124€ - 261 849 092€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 193 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Activités des agents et courtiers d'assurances)

Compare WILLIS TOWERS WATSON FRANCE with other companies in the same sector:

Voir toutes les statistiques du secteur Activités des agents et courtiers d'assurances

Frequently asked questions about WILLIS TOWERS WATSON FRANCE

What is the revenue of WILLIS TOWERS WATSON FRANCE ?

The revenue of WILLIS TOWERS WATSON FRANCE in 2024 is 429.8 M€.

Is WILLIS TOWERS WATSON FRANCE profitable?

Yes, WILLIS TOWERS WATSON FRANCE generated a net profit of 28.5 M€ in 2024.

Where is the headquarters of WILLIS TOWERS WATSON FRANCE ?

The headquarters of WILLIS TOWERS WATSON FRANCE is located in PUTEAUX (92800), in the department Hauts-de-Seine.

Where to find the tax return of WILLIS TOWERS WATSON FRANCE ?

The tax return of WILLIS TOWERS WATSON FRANCE is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does WILLIS TOWERS WATSON FRANCE operate?

WILLIS TOWERS WATSON FRANCE operates in the sector Activités des agents et courtiers d'assurances (NAF code 66.22Z). See the 'Sector positioning' section above to compare the company with its competitors.