- WTW is an interesting firm in the advisory and brokering space, with a focus on brokering insurance contracts as well as strategic advice in various areas.
- The company multiple is pretty low, and we think that departure issues have slowed down.
- They do also have tailwinds from the labor environment, where hiring advice is quite popular and a mildly growing segment.
- The balance sheet is safe and the business trades at a pretty low multiple relative to some other financial and consulting service companies.
- It's not uncompelling, but it also doesn't have an edge that can win in this market, so it doesn't pass our high standard.
For further details see:
Willis Towers Watson Is Pretty Cheap And Labor Market Headwinds Are In The Rear View