AON

Aon
D

AON

Arincen87/100B

If you had invested in Aon ago, it would be worth $3,310 today, against $4,096 in SPY and $6,368 in QQQ.

ArincenArincen ScoreBeta

87/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength2

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2025; the price as of today.

Aon key facts

Style
Value stock · 6.5/10Growth 5.0 · Value 6.5 · Dividend 3.9
Day range
335.91 – 340.92
52-week range
266.33 – 382.34
Market capitalization
72.28B USD
P/E
18.56
PEG ratio
1.67
EPS
18.36
Div Yield
0.96%
EPS growth forecast (FY2026)
+8.0%
Volume
2,290
Beta
0.61
ESG score
58.2/100Environment 53 · Social 62 · Governance 59
Sector
Financial Services
Industry
Insurance - Brokers
CEO
Gregory C. Case
Employees
60K
Website
aon.com
IPO date
1 Jun 1980

Aon earnings

Next earnings · Q4 FY2026
EPS estimate
4.80 USD
Revenue estimate
4.54B USD
Last quarter · Q3 FY2026
EPS3.36Beat +1.8%Revenue4.10BBeat +0.6%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q3 FY20273.52——+4.88%5.01B——+22.26%
Q2 FY20273.96——+4.02%5.14B——+21.14%
Q1 FY20276.94——+7.06%5.97B——+18.64%
Q4 FY20264.80——-1.03%4.54B——+5.51%
Q3 FY20263.303.36+1.82%+10.16%4.08B4.10B+0.57%+2.60%
Q2 FY20263.803.81+0.26%+9.17%4.28B4.25B-0.68%+2.19%
Q1 FY20266.376.48+1.73%+14.29%4.97B5.03B+1.22%+6.45%
Q4 FY20254.754.85+2.11%+9.73%4.38B4.30B-1.81%+3.69%
Q3 FY20252.913.05+4.81%+12.13%3.96B4.00B+1.02%+7.42%
Q2 FY20253.403.49+2.65%+19.11%4.17B4.16B-0.28%+10.51%

Analysts' estimates for FY2026 over the last 7 days:EPS Revenue How the estimates moved

Aon analyst forecast

12-month price target
361.30 USD
+6.04%

Analysts' 1-year price targets range from 317.00 to 423.00, with an average of 361.30.

Past year
1-year forecast
Strong sellStrong buy
Buy
15 ratings
Buy
11
Hold
4
Sell
0

12-month price target

Highest target423.00
Average target361.30
Lowest target317.00
Current price340.71

Aon valuation

Price to earnings ratio (TTM)
18.56
Forward P/E (FY2026)
18.49
Price to sales (TTM)
4.09
Price to book
7.16
EV / EBITDA (TTM)
12.75

Capital structure

Market capitalization
72.28B USD
+
Total debt
28.77B USD
−
Cash and short-term investments
15.32B USD
=
Enterprise value
85.74B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)14.59————
FY2027 (est.)16.8214.59———
FY2026 (est.)18.4916.82———
Now (TTM)18.5617.024.097.1612.75
FY202520.6019.154.428.1217.06
FY202428.6221.184.8412.4018.79
FY202323.1018.844.43-71.7018.03
FY202224.5420.985.09-120.1119.48
FY202153.7722.845.5463.6530.02

Aon against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Arthur J. Gallagher &, Marsh & McLennan Companies, and Brown & Brown, the US Insurance - Brokers companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Below its median18.6
    14.875.9
  • Gross marginAt its median47.7%
    44.7%48.4%
    Against its peers: 3 of 4Peers' median 49.1%
  • Operating marginAt its median25.3%
    17.1%29.4%
    Against its peers: 2 of 4Peers' median 23.1%
  • Net marginHighest in 5 years21.5%
    10.3%21.5%
    Against its peers: 1 of 4Peers' median 15.4%
  • Return on equityLowest in 5 years39.5%
    39.5%118.3%
    Against its peers: 1 of 4Peers' median 8.4%
  • Free cash flow marginAt its median18.7%
    16.8%24.2%
    Against its peers: 2 of 4Peers' median 18.5%
  • Revenue growthAt its median9.4%
    2.3%17.4%
    Against its peers: 4 of 4Peers' median 20.7%
  • EPS growthAbove its median36.3%
    -34.3%118.7%
    Against its peers: 1 of 4Peers' median -8.7%
  • Debt to EBITDALowest in 5 years2.97×
    2.97×4.04×
    Against its peers: 2 of 4Peers' median 3.82×
  • Current ratioHighest in 5 years1.11
    1.001.11
    Against its peers: 1 of 4Peers' median 1.06

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Aon growth and profitability

Revenue (TTM)
17.68B USD
Net income (TTM)
3.93B USD
Gross margin
83.13%
Operating margin
26.28%
Net margin
22.24%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202517.18B+9.45%3.70B+39.22%47.70%25.28%21.51%5.35B+8.35%
FY202415.70B+17.36%2.65B+3.51%47.24%24.43%16.91%4.94B+26.27%
FY202313.38B+7.19%2.56B-0.97%48.40%28.30%19.17%3.91B+2.17%
FY202212.48B+2.35%2.59B+106.29%48.10%29.40%20.75%3.83B+48.35%
FY202112.19B+10.18%1.26B-36.26%44.74%17.14%10.29%2.58B-19.73%

Aon revenue breakdown

By product

FY2025
Risk Capital: 65.7%Human Capital: 34.3%65.7%Risk Capital34.3%Human Capital
SegmentRevenueShare of revenueChange on the year
Risk Capital11.29B65.7%+7.4%
Human Capital5.91B34.3%+13.4%

By region

FY2025
United States: 53.2%Europe, Middle East, And Africa: 20.3%United Kingdom: 14.3%Asia Pacific: 11.0%Ireland: 1.2%53.2%United States20.3%Europe, Middle East, And Africa14.3%United Kingdom11.0%Asia Pacific1.2%Ireland
RegionRevenueShare of revenueChange on the year
United States8.28B53.2%+8.0%
Europe, Middle East, And Africa3.15B20.3%+8.7%
United Kingdom2.22B14.3%+12.4%
Asia Pacific1.71B11.0%+2.1%
Ireland185.00M1.2%+26.7%

How Aon makes its money

Risk Capital11.29B 65.7%
Human Capital5.91B 34.4%
Revenue17.18B 100.0%
Cost of revenue8.99B 52.3%
Gross profit8.20B 47.7%
Selling and administration1.56B 9.1%
Other operating expenses2.29B 13.3%
Operating income4.34B 25.3%
Tax1.01B 5.9%
Net income3.70B 21.5%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Aon dividends

Annual dividend
3.28 USD
Dividend yield (indicated)
0.96%
Payout ratio
17.46%
Years of dividend growth
15
Frequency
Quarterly
Last payment
0.82 USD
Last ex-dividend date
2 Nov 2026
Last payment date
13 Nov 2026

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share2.912.642.412.191.991.781.721.961.411.29

Aon financial health

Cash and short-term investments
15.32B USD
Total debt
28.77B USD
Net cash
-13.46B USD
Free cash flow (TTM)
3.27B USD
Current ratio
1.58
Debt to equity
2.85
Piotroski score
6 / 9
Altman Z-score
1.63

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20252.80B15.89B3.22B
FY202411.62B17.89B2.82B
FY20231.15B12.03B3.18B
FY20221.14B11.68B3.02B
FY2021836.00M10.42B2.05B

Aon ownership

Institutions
90.78%
Institutional holders
1,291 (+3)
Free float
98.98%

Who owns the shares

Institutions 90.8% Others 9.2%
As of 30 Jun 2026

Shares free to trade

Free float 209.99M shares ·99.0% Closely held 2.16M shares ·1.0%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q3 20266723.98K10.62K
Q2 20260010.02K3.88K
Q1 202612186.68K123.54K
Q4 20250220.08K37.54K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025215.10M216.50M+1.88%
FY2024211.40M212.50M+3.66%
FY2023203.50M205.00M-3.85%
FY2022211.70M213.20M-5.71%
FY2021224.70M226.10M-3.00%

Source: Financial Modeling Prep

Related Instruments

Title: Aon plc

Sector: Financial Services
Industry: Insurance - Brokers
Aon is a leading global provider of insurance and reinsurance brokerage and human resources solutions. Its operations are tilted toward its brokerage operations. Headquartered in London, Aon has about 60,000 employees and operations in over 120 countries.

Common questions about Aon stock