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.
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.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Willis Towers Watson Piotroski F-Score Related Terms
Willis Towers Watson Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Willis Towers Watson's Piotroski F-Score 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.
MEX:WTW N vs BRO, ERIE, NP: Piotroski F-Score Comparison
For the Insurance Brokers subindustry, Willis Towers Watson's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Insurance Industry
For the Insurance industry and Financial Services sector, Willis Towers Watson's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Willis Towers Watson's Piotroski F-Score falls into.
* 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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 5576.637 + 13234.19 + 5355.712 + 3995.821 = MXN28,162 Mil. Cash Flow from Operations was 12437.368 + 13882.395 + -180.327 + 8445.316 = MXN34,585 Mil. Revenue was 41971.53 + 52864.735 + 43494.872 + 43029.234 = MXN181,360 Mil. Gross Profit was 16051.175 + 26954.533 + 17635.981 + 15965.835 = MXN76,608 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(536217.958 + 503346.504 + 531708.321 + 534435.13 + 533223.991) / 5 = MXN527786.3808 Mil. Total Assets at the begining of this year (Jun25) was MXN536,218 Mil. Long-Term Debt & Capital Lease Obligation was MXN108,795 Mil. Total Current Assets was MXN292,184 Mil. Total Current Liabilities was MXN266,010 Mil.
Net Income was -32981.253 + 25986.202 + 4807.677 + 6232.465 = MXN4,045 Mil.
Revenue was 45071.097 + 63297.049 + 45478.579 + 42572.821 = MXN196,420 Mil. Gross Profit was 17583.438 + 34787.308 + 18391.922 + 15289.31 = MXN86,052 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(542678.092 + 534946.071 + 577306.631 + 574138.925 + 536217.958) / 5 = MXN553057.5354 Mil. Total Assets at the begining of last year (Jun24) was MXN542,678 Mil. Long-Term Debt & Capital Lease Obligation was MXN99,079 Mil. Total Current Assets was MXN293,830 Mil. Total Current Liabilities was MXN261,180 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Willis Towers Watson's current Net Income (TTM) was 28,162.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Willis Towers Watson's current Cash Flow from Operations (TTM) was 34,585.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Willis Towers Watson's return on assets of this year was 0.05252036. Willis Towers Watson's return on assets of last year was 0.00745394.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Willis Towers Watson's gearing of this year was 0.20613362. Willis Towers Watson's gearing of last year was 0.17914818.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Willis Towers Watson's current ratio of this year was 1.09839292. Willis Towers Watson's current ratio of last year was 1.12500901.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Willis Towers Watson's number of shares in issue this year was 94. Willis Towers Watson's number of shares in issue last year was 100.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Willis Towers Watson's gross margin of this year was 0.42240498. Willis Towers Watson's gross margin of last year was 0.43810293.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Willis Towers Watson's asset turnover of this year was 0.33822137. Willis Towers Watson's asset turnover of last year was 0.36194486.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
1
+
1
+
0
+
0
+
1
+
0
+
0
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Willis Towers Watson has an F-score of 5 indicating the company's financial situation is typical for a stable company.
Willis Towers Watson (MEX:WTW N) has a Piotroski F-Score of 6 as of Aug. 14, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Willis Towers Watson and its competitors. This is near median its historical median of 6.00. Over the past decade, Willis Towers Watson's Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Willis Towers Watson ranks #177 out of 488 companies in the Insurance industry, placing it in the top 36.3%.
Is Willis Towers Watson's Piotroski F-Score too high?
Willis Towers Watson's current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The Insurance industry median Piotroski F-Score is 6.00. Willis Towers Watson's value of 6 is 0% at this industry median. Based on the distribution chart, Willis Towers Watson ranks #177 out of 488 companies in the Insurance industry, which is above the industry midpoint. Overall, Willis Towers Watson has a GF Score™ of 77/100, reflecting its overall financial health beyond just this single metric.
How does Willis Towers Watson's Piotroski F-Score compare to BRO and ERIE?
According to the Insurance industry distribution chart, Willis Towers Watson ranks #177 out of 488 companies for Piotroski F-Score. This puts Willis Towers Watson in the upper half of its industry. The industry median Piotroski F-Score is 6.00. Willis Towers Watson's value of 6 is 0% at this benchmark. Historically, Willis Towers Watson's own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, Willis Towers Watson has consistently been at 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 Piotroski F-Score for an Insurance company?
The median Piotroski F-Score among Insurance companies is 6.00, based on 488 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Willis Towers Watson's current Piotroski F-Score of 6 is 0% at 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Willis Towers Watson and its competitors. For the Insurance industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Willis Towers Watson's current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. 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?
Willis Towers Watson (MEX:WTW N) has a current Piotroski F-Score of 6. The stock's GF Value™ is MXN3,991.57, compared to a current price of MXN4,025.04 — trading 0.8% above its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 0% at the Insurance industry median of 6.00. Willis Towers Watson's overall GF Score™ is 77/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Willis Towers Watson (MEX:WTW N), the current Piotroski F-Score is 6 as of Aug. 14, 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 (MEX:WTW N) Overvalued in 2026?
Based on GuruFocus' analysis, Willis Towers Watson stock appears to be overvalued.
The current stock price of MXN4,025.04 is trading 0.8% above its estimated GF Value™ of MXN3,991.57.
Key valuation signals for MEX:WTW N:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: MXN3,991.57 vs. price of MXN4,025.04 (0.8% above fair value)
Industry Position: 0% at the Insurance median (#177 of 488)
No single metric tells the full story. See the MEX:WTW N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
77GF Score
Get the complete analysis for MEX:WTW N
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:WTW N has been successfully added to your 
