Willis Towers Watson (MIL:1WTW) Cyclically Adjusted PS Ratio: 3.96 (As of Aug. 12, 2026) — 25% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MIL:1WTW Willis Towers Watson PLC MIL:1WTW
20 GF Score
Price €298.70
GF Value €288.67
Valuation Fairly Valued
! 5 Warning Signs
View Full Analysis

What is Willis Towers Watson Cyclically Adjusted PS Ratio?

Willis Towers Watson MIL:1WTW 20 Cyclically Adjusted PS Ratio is 3.96 as of Aug. 12, 2026, which is 25% above its 10-year median of 3.16. GuruFocus rates MIL:1WTW with a GF Score™ of 20/100 and a GF Value™ of €288.67 (Fairly Valued). The stock has 5 warning signs investors should review. Among 416 Insurance companies, Willis Towers Watson ranks worse than 86.3% on this metric.

As of today (2026-08-12), Willis Towers Watson's current share price is €298.70. Willis Towers Watson's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was €75.38. Willis Towers Watson's Cyclically Adjusted PS Ratio for today is 3.96.

The historical rank and industry rank for Willis Towers Watson's Cyclically Adjusted PS Ratio or its related term are showing as below:

MIL:1WTW' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 2.05   Med: 3.16   Max: 4.28
Current: 3.72

During the past years, Willis Towers Watson's highest Cyclically Adjusted PS Ratio was 4.28. The lowest was 2.05. And the median was 3.16.

MIL:1WTW's Cyclically Adjusted PS Ratio is ranked worse than
86.3% of 416 companies
in the Insurance industry
Industry Median: 1.205 vs MIL:1WTW: 3.72

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Willis Towers Watson's adjusted revenue per share data for the three months ended in Jun. 2026 was €22.771. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €75.38 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Willis Towers Watson  (MIL:1WTW) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Willis Towers Watson Cyclically Adjusted PS Ratio Related Terms


Willis Towers Watson Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Willis Towers Watson's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Willis Towers Watson Cyclically Adjusted PS Ratio Chart

Willis Towers Watson Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.55 3.29 3.04 3.71 3.66

Willis Towers Watson Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.52 3.93 3.66 3.21 2.84

MIL:1WTW vs BRO, ERIE, NP: Cyclically Adjusted PS Ratio Comparison

For the Insurance Brokers subindustry, Willis Towers Watson's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Willis Towers Watson Cyclically Adjusted PS Ratio vs Insurance Industry

For the Insurance industry and Financial Services sector, Willis Towers Watson's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Willis Towers Watson's Cyclically Adjusted PS Ratio falls into.


MIL:1WTW
20GF Score
Willis Towers Watson PLC MIL:1WTW
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Willis Towers Watson Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Willis Towers Watson's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=298.70/75.38
=3.96

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Willis Towers Watson's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Willis Towers Watson's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=22.771/142.3000*142.3000
=22.771

Current CPI (Jun. 2026) = 142.3000.

Willis Towers Watson Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 11.473 101.500 16.085
201612 13.334 102.200 18.566
201703 15.712 102.700 21.770
201706 12.687 103.500 17.443
201709 11.596 104.300 15.821
201712 13.202 105.000 17.892
201803 13.976 105.100 18.923
201806 12.808 105.900 17.210
201809 12.069 106.600 16.111
201812 15.795 107.100 20.986
201903 15.739 107.000 20.931
201906 13.942 107.900 18.387
201909 13.892 108.400 18.236
201912 13.992 108.500 18.351
202003 17.167 108.600 22.494
202006 14.433 108.800 18.877
202009 12.389 109.200 16.144
202012 16.876 109.400 21.951
202103 14.396 109.700 18.674
202106 13.350 111.400 17.053
202109 13.000 112.400 16.458
202112 19.006 114.700 23.579
202203 16.621 116.500 20.302
202206 17.155 120.500 20.259
202209 17.771 122.300 20.677
202212 23.574 125.300 26.772
202303 19.406 126.800 21.778
202306 18.624 129.400 20.481
202309 19.329 130.100 21.142
202312 25.943 130.500 28.289
202403 20.709 131.600 22.393
202406 20.429 133.000 21.857
202409 20.220 133.500 21.553
202412 29.277 135.100 30.837
202503 20.359 136.100 21.286
202506 19.603 138.400 20.155
202509 19.892 138.900 20.379
202512 26.118 139.900 26.566
202603 21.733 140.800 21.965
202606 22.771 142.300 22.771

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 3.96 mean?
Willis Towers Watson (MIL:1WTW) has a Cyclically Adjusted PS Ratio of 3.96 as of Aug. 12, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Willis Towers Watson and its competitors. This is 25% above median its historical median of 3.16. Over the past decade, Willis Towers Watson's Cyclically Adjusted PS Ratio has ranged from 2.05 to 4.28. According to the industry distribution chart, Willis Towers Watson ranks #359 out of 416 companies in the Insurance industry, placing it in the top 86.3%.
Is Willis Towers Watson's Cyclically Adjusted PS Ratio too high?
Willis Towers Watson's current Cyclically Adjusted PS Ratio of 3.96 is 25% above median its 10-year median of 3.16. Over the past 10 years, this metric has ranged from a low of 2.05 to a high of 4.28. The Insurance industry median Cyclically Adjusted PS Ratio is 1.21. Willis Towers Watson's value of 3.96 is 228.6% above this industry median. Based on the distribution chart, Willis Towers Watson ranks #359 out of 416 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Willis Towers Watson has a GF Score™ of 20/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Willis Towers Watson's Cyclically Adjusted PS Ratio compare to BRO and ERIE?
According to the Insurance industry distribution chart, Willis Towers Watson ranks #359 out of 416 companies for Cyclically Adjusted PS Ratio. This places Willis Towers Watson in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.21. Willis Towers Watson's value of 3.96 is 228.6% above this benchmark. Historically, Willis Towers Watson's own Cyclically Adjusted PS Ratio has ranged from 2.05 to 4.28 over the past decade. While the company's 10-year median is 3.16 vs. the industry median of 1.21, Willis Towers Watson has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for an Insurance company?
The median Cyclically Adjusted PS Ratio among Insurance companies is 1.21, based on 416 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Willis Towers Watson's current Cyclically Adjusted PS Ratio of 3.96 is 228.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Willis Towers Watson and its competitors. For the Insurance industry, the median Cyclically Adjusted PS Ratio is 1.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Willis Towers Watson's current Cyclically Adjusted PS Ratio is 3.96, which is 25% above median its own 10-year median of 3.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Willis Towers Watson stock overvalued right now?
Based on GuruFocus' analysis, Willis Towers Watson (MIL:1WTW) is currently considered Fairly Valued. The stock's GF Value™ is €288.67, compared to a current price of €298.70 — trading 3.5% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 3.96, which is 25% above median its 10-year median of 3.16 and 228.6% above the Insurance industry median of 1.21. Willis Towers Watson's overall GF Score™ is 20/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Willis Towers Watson (MIL:1WTW), the current Cyclically Adjusted PS Ratio is 3.96 as of Aug. 12, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Willis Towers Watson (MIL:1WTW) Overvalued in 2026?

Based on GuruFocus' analysis, Willis Towers Watson stock appears to be overvalued. The current stock price of €298.70 is trading 3.5% above its estimated GF Value™ of €288.67. GuruFocus considers Willis Towers Watson to be Fairly Valued.

Key valuation signals for MIL:1WTW:

  • Cyclically Adjusted PS Ratio: 3.96 (25% above median its 10-year median of 3.16)
  • GF Value™: €288.67 vs. price of €298.70 (3.5% above fair value)
  • GF Score™: 20/100 with 5 warning signs
  • Industry Position: 228.6% above the Insurance median (#359 of 416)

No single metric tells the full story. See the MIL:1WTW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Willis Towers Watson Business Description

Other Exchanges WTW:USA0Y4Q:UKW1LT34:Brazil
Address c/o Willis Group Limited, 51 Lime Street, London, GBR, EC3M 7DQ
Willis Towers Watson PLC is an advisory, broking, and solutions company that provides data-driven, insight-led solutions in the areas of people, risk, and capital. The company's segments include Health, Wealth & Career (HWC) and Risk & Broking (R&B). The HWC segment provides an array of advice, broking, solutions and technology for employee benefit plans, institutional investors, compensation and career programs, and employee experience overall. It focuses on four key areas: Health, Wealth, Career and Benefits Delivery & Outsourcing. The R&B segment provides risk advice, insurance brokerage and consulting services to clients ranging from small businesses to multinational corporations. Its R&B segment includes two businesses: Corporate Risk & Broking and Insurance Consulting and Technology.
20GF Score

Get the complete analysis for MIL:1WTW

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€298.70
Price
€288.67
GF Value