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AON logoAon plc(AON)Earnings, Financials & Key Ratios

AON•NYSE•Insurance & Managed Care
$308.22
$66.04B mkt cap·18.1× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryInsurance BrokersSub-IndustryCommercial insurance brokerages
AboutAon plc, a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. It offers commercial risk solutions, including retail brokerage, cyber, and global risk consulting solutions, as well as acts as a captives management; and health solutions, such as health and benefits brokerages, and health care exchanges. The company also provides treaty and facultative reinsurance, as well as insurance-linked securities, capital raising, strategic advice, restructuring, and mergers and acquisitions services; and corporate finance advisory services and capital markets solutions products. In addition, it offers strategic design consulting services on their retirement programs, actuarial services, and risk management services; advice services on developing and maintaining investment programs across a range of plan types, including defined benefit plans, defined contribution plans, endowments, and foundations for public and private companies, and other institutions; and advice and solutions that help clients in risk, health, and wealth through commercial risk, reinsurance, health, and wealth solutions. Further, the company offers CoverWallet; Affinity; Aon Inpoint; CoverWallet; and ReView services. Aon plc was founded in 1919 and is headquartered in Dublin, Ireland.Show more
  • Revenue$17.18B+9.4%
  • Combined Ratio74.72%-1.1%
  • Net Income$3.69B+39.2%
  • Return on Equity46.25%-50.4%
  • Medical Cost Ratio52.3%-0.9%
  • Operating Margin25.28%+3.5%
  • Net Margin21.51%+27.2%
  • ROA7.41%+15.7%
  • Equity / Assets18.8%+43.2%
  • Book Value per Share44.10+45.7%
  • Tangible BV/Share-55.32+24.4%
  • Debt/Equity1.73-37.8%
Analysis→Technical→

AON Key Insights

Aon plc (AON) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Profitable underwriting: 74.7% combined ratio
  • ✓Excellent 3Y average ROE of 69.8%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓14 consecutive years of dividend growth
  • ✓Low loss ratio of 52.3%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

AON Price & Volume

Aon plc (AON) stock price & volume — 10-year historical chart

Loading chart...

AON Growth Metrics

Aon plc (AON) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years6.13%
5 Years9.2%
3 Years11.25%
TTM6.9%

Profit CAGR

10 Years10.31%
5 Years13.42%
3 Years12.59%
TTM54.71%

EPS CAGR

10 Years13.31%
5 Years15.03%
3 Years11.92%
TTM55.2%

Return on Capital

10 Years17.9%
5 Years22.23%
3 Years22.3%
Last Year16.23%

AON Recent Earnings

Aon plc (AON) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 1, 2026
EPS
$6.48
Est $6.37
+1.7%
Revenue
$5.0B
Est $5.0B
+1.2%
Q1 2026
Jan 30, 2026
EPS
$4.85
Est $4.75
+2.1%
Revenue
$4.3B
Est $4.4B
-1.8%
Q4 2025
Oct 31, 2025
EPS
$3.05
Est $2.91
+4.8%
Revenue
$4.0B
Est $4.0B
+1.0%
Q3 2025
Jul 25, 2025
EPS
$3.49
Est $3.40
+2.6%
Revenue
$4.2B
Est $4.2B
-0.3%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 1, 2026
$6.48vs $6.37+1.7%
$5.0Bvs $5.0B+1.2%
Q1 2026Jan 30, 2026
$4.85vs $4.75+2.1%
$4.3Bvs $4.4B-1.8%
Q4 2025Oct 31, 2025
$3.05vs $2.91+4.8%
$4.0Bvs $4.0B+1.0%
Q3 2025Jul 25, 2025
$3.49vs $3.40+2.6%
$4.2Bvs $4.2B-0.3%
Based on last 12 quarters of dataView full earnings history →

AON Peer Comparison

Aon plc (AON) competitors in Commercial insurance brokerages — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MMC logoMMCMarsh & McLennan Companies, Inc.Direct Competitor85.27B174.0621.287.57%15.6%26.87%1.62
WTW logoWTWWillis Towers Watson Public Limited CompanyDirect Competitor23.8B252.4115.52-2.24%16.84%20.77%0.86
AJG logoAJGArthur J. Gallagher & Co.Direct Competitor50.63B196.9134.2520.66%10.72%6.5%0.60
BRO logoBROBrown & Brown, Inc.Direct Competitor19.25B56.5617.9026.59%17.87%9.33%0.63
HIG logoHIGThe Hartford Financial Services Group, Inc.Product Competitor36.71B133.4910.027.1%14.13%22.01%0.23
ERIE logoERIEErie Indemnity CompanyProduct Competitor9.86B213.5620.117.17%13.2%25.03%
RLI logoRLIRLI Corp.Product Competitor4.51B49.0111.246.33%20.8%22%0.06
RYAN logoRYANRyan Specialty Holdings, Inc.Product Competitor3.81B29.3962.5321.28%4.17%10.77%2.82

Compare AON vs Peers

Aon plc (AON) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MMC

Most directly comparable listed peer for AON.

Scale Benchmark

vs IBM

Larger-name benchmark to compare AON against a more recognizable public peer.

Peer Set

Compare Top 5

vs MMC, WTW, AJG, BRO

AON Income Statement

Aon plc (AON) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue10B10.77B11.01B11.07B12.19B12.48B13.38B15.7B17.18B17.49B
Revenue Growth %6.26%7.72%2.26%0.48%10.18%2.35%7.19%17.36%9.45%6.9%
Medical Costs & Claims6B6.1B6.05B5.91B6.74B6.48B6.9B8.28B8.98B7.72B
Medical Cost Ratio %60.04%56.67%54.97%53.36%55.26%51.9%51.6%52.76%52.3%44.14%
Gross Profit
4B▲ 0%
4.67B▲ 16.8%
4.96B▲ 6.3%
5.16B▲ 4.1%
5.46B▲ 5.7%
6B▲ 10.0%
6.47B▲ 7.9%
7.42B▲ 14.5%
8.2B▲ 10.5%
9.77B▲ 0%
Gross Margin %39.96%43.33%45.03%46.64%44.74%48.1%48.4%47.24%47.7%55.85%
Gross Profit Growth %2.57%16.82%6.26%4.07%5.7%10.03%7.86%14.54%10.53%-
Operating Expenses2.93B3.12B2.79B2.38B3.37B2.33B2.69B3.58B3.85B7.43B
OpEx / Revenue %29.31%29%25.33%21.51%27.6%18.7%20.1%22.81%22.42%42.5%
Depreciation & Amortization891M769M564M413M326M264M256M686M966M721M
Combined Ratio %89.35%85.66%80.31%74.87%82.86%70.6%71.7%75.57%74.72%86.65%
Operating Income
1.06B▲ 0%
1.54B▲ 45.0%
2.17B▲ 40.5%
2.78B▲ 28.2%
2.09B▼ 24.8%
3.67B▲ 75.6%
3.79B▲ 3.2%
3.83B▲ 1.3%
4.34B▲ 13.3%
4.73B▲ 0%
Operating Margin %10.65%14.34%19.69%25.13%17.14%29.4%28.3%24.43%25.28%27.03%
Operating Income Growth %-41.19%44.98%40.48%28.22%-24.85%75.55%3.16%1.32%13.27%-
EBITDA1.96B2.31B2.73B3.19B2.42B3.93B4.04B4.52B5.31B5.45B
EBITDA Margin %19.56%21.48%24.82%28.86%19.81%31.52%30.21%28.8%30.91%31.16%
Interest Expense282M278M307M334M322M406M484M788M815M430M
Non-Operating Income98M20M-8M-19M-163M107M132M-415M-38M-1.11B
Pretax Income
685M▲ 0%
1.25B▲ 81.9%
1.87B▲ 50.1%
2.47B▲ 31.9%
1.93B▼ 21.7%
3.16B▲ 63.4%
3.17B▲ 0.4%
3.46B▲ 9.2%
4.76B▲ 37.5%
5.06B▲ 0%
Pretax Margin %6.85%11.57%16.98%22.28%15.84%25.29%23.69%22.05%27.7%28.95%
Income Tax250M146M297M448M623M510M541M742M1.01B1.05B
Effective Tax Rate %36.5%11.72%15.88%18.17%32.26%16.16%17.07%21.43%21.2%20.84%
Net Income
1.23B▲ 0%
1.13B▼ 7.5%
1.53B▲ 35.1%
1.97B▲ 28.5%
1.25B▼ 36.3%
2.59B▲ 106.3%
2.56B▼ 1.0%
2.65B▲ 3.5%
3.69B▲ 39.2%
3.94B▲ 0%
Net Margin %12.26%10.53%13.91%17.79%10.29%20.75%19.17%16.91%21.51%22.54%
Net Income Growth %-12.18%-7.5%35.1%28.52%-36.26%106.29%-0.97%3.51%39.22%54.71%
EPS (Diluted)
4.70▲ 0%
4.59▼ 2.3%
6.37▲ 38.8%
8.45▲ 32.7%
5.55▼ 34.3%
12.14▲ 118.7%
12.51▲ 3.0%
12.49▼ 0.2%
17.02▲ 36.3%
18.30▲ 0%
EPS Growth %-8.91%-2.34%38.78%32.65%-34.32%118.74%3.05%-0.16%36.27%55.2%
EPS (Basic)4.744.626.428.495.5912.2312.6012.5517.13-
Diluted Shares Outstanding260.7M247M240.6M233.1M226.1M213.2M205M212.5M216.5M215.4M

AON Balance Sheet

Aon plc (AON) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets26.09B26.42B29.41B32.11B31.93B32.7B33.96B48.97B50.78B51.43B
Asset Growth %-1.98%1.28%11.29%9.19%-0.55%2.43%3.84%44.19%3.71%14.43%
Total Investment Assets586M226M191M382M356M512M414M10.63B1.79B4M
Long-Term Investments57M54M53M74M64M60M45M90M192M456M
Short-Term Investments529M172M138M308M292M452M369M10.54B1.6B238M
Total Current Assets13.68B14.37B16.48B18.68B19.03B20.72B21.7B23.43B25.77B26.16B
Cash & Equivalents756M656M790M884M544M690M778M1.08B1.2B1.18B
Receivables2.62B2.88B3.2B3.17B3.15B3.11B3.29B11.09B4.21B41.7B
Other Current Assets9.65B10.56B12.25B14.21B14.91B16.36B17.17B581M18.77B19.66B
Goodwill & Intangibles10.09B9.32B8.95B9.31B8.93B8.74B8.65B21.98B21.52B87.56B
Goodwill8.36B8.17B8.16B8.67B8.43B8.29B8.41B15.23B15.8B15.93B
Intangible Assets1.73B1.15B783M640M492M447M234M6.74B5.73B5.83B
PP&E (Net)564M588M1.55B1.6B1.31B1.26B1.31B1.36B1.38B1.39B
Other Assets1.31B1.53B1.63B1.73B1.81B1.1B1.05B1.46B1.17B1.39B
Total Liabilities21.44B22.2B25.96B28.52B30.77B33.13B34.7B42.53B41.24B41.45B
Total Debt6.12B6.41B8.57B8.93B10.42B11.68B12.03B17.89B16.53B15.3B
Net Debt5.36B5.76B7.78B8.04B9.88B10.99B11.25B16.81B15.34B14.12B
Long-Term Debt5.67B5.99B6.63B7.28B8.23B9.82B9.99B16.27B15.3B14.18B
Short-Term Debt299M251M712M448M1.16B945M1.2B751M589M1.12B
Total Current Liabilities12.76B13.3B15.57B17.42B19.07B20.31B21.65B23B23.23B24.54B
Accounts Payable1.96B1.94B1.94B2.02B2.19B2.11B2.26B2.9B2.86B0
Deferred Revenue311M251M270M296M321M250M270M280M00
Other Current Liabilities10.04B10.77B12.35B14.35B15.03B16.62B17.44B18.61B19.78B23.42B
Deferred Taxes1000K1000K1000K1000K1000K1000K1000K1000K1000K1.41B
Other Liabilities2.69B2.5B2.48B2.52B2.17B2.15B2.26B2.24B1.44B2.39B
Total Equity
4.65B▲ 0%
4.22B▼ 9.2%
3.45B▼ 18.3%
3.58B▲ 3.9%
1.16B▼ 67.7%
-429M▼ 137.0%
-742M▼ 73.0%
6.43B▲ 966.6%
9.55B▲ 48.5%
9.96B▲ 0%
Equity Growth %-15.98%-9.23%-18.25%3.89%-67.68%-137.05%-72.96%966.58%48.49%140.57%
Shareholders Equity4.58B4.15B3.38B3.5B1.06B-529M-826M6.12B9.35B9.83B
Minority Interest65M68M74M88M97M100M84M309M196M22M
Retained Earnings2.3B2.09B1.25B1.04B-1.69B-2.77B-3.4B-2.31B-245M307M
Common Stock2M2M2M2M2M2M2M2M2M2M
Accumulated OCI-3.5B-3.91B-4.03B-3.86B-3.87B-4.62B-4.37B-4.75B-3.84B-3.93B
Return on Equity (ROE)24.09%25.58%39.96%56%52.94%710.29%-93.32%46.25%44.16%
Return on Assets (ROA)4.65%4.32%5.49%6.4%3.92%8.01%7.69%6.4%7.41%7.59%
Equity / Assets17.82%15.97%11.73%11.16%3.63%-1.31%-2.18%13.13%18.8%19.36%
Debt / Equity1.32x1.52x2.48x2.49x9.00x--2.78x1.73x1.73x
Book Value per Share17.8317.0814.3315.375.12-2.01-3.6230.2644.1046.23
Tangible BV per Share-20.88-20.65-22.86-24.55-34.36-43.00-45.80-73.16-55.32-54.75

AON Cash Flow Statement

Aon plc (AON) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations734M1.69B1.83B2.78B2.18B3.22B3.44B3.04B3.48B3.48B
Operating CF Growth %-68.44%129.7%8.84%51.66%-21.6%47.53%6.71%-11.64%14.7%292.05%
Operating CF / Revenue %7.34%15.65%16.66%25.15%17.9%25.8%25.68%19.33%20.26%19.91%
Net Income1.26B1.17B1.57B2.02B1.31B2.65B2.56B2.72B3.69B3.94B
Depreciation & Amortization891M769M564M413M326M264M256M686M966M919M
Stock-Based Compensation319M338M317M312M449M397M438M474M0307M
Deferred Taxes-8M-225M-36M9M11M-252M-373M-311M0-168M
Other Non-Cash Items-747M-68M-12M-26M-142M116M88M-471M-988M-2.19B
Working Capital Changes-984M-302M-571M57M230M48M462M-63M-192M908M
Cash from Investing2.79B31M-229M-679M49M-449M-188M-2.83B286M1.58B
Capital Expenditures-183M-240M-225M-141M-137M-196M-252M-218M-263M-274M
Acquisitions3.22B-68M13M-338M204M-81M-30M-2.81B1.96B2.21B
Purchase of Investments-296M-80M-113M-264M-91M-282M-67M-172M-1.55B-27M
Sale/Maturity of Investments68M419M96M64M73M110M161M363M145M-5M
Other Investing-19M00000000-328M
Cash from Financing-3.27B-1.7B-247M-1.77B-1.92B-1.79B-2.87B796M-4.21B-4.3B
Dividends Paid-364M-382M-410M-412M-447M-463M-489M-562M-629M-644M
Share Repurchases-2.4B-1.47B-1.96B-1.76B-3.54B-3.2B-2.7B-1B-1B-750M
Stock Issued000055M58M72M79M70M40M
Debt Issuance (Net)-1000K1000K1000K1000K1000K1000K1000K1000K-1000K-3M
Other Financing-157M-184M1.01B132M258M416M-115M-128M-772M-475M
Net Change in Cash
325M▲ 0%
-100M▼ 130.8%
1.42B▲ 1522.0%
629M▼ 55.8%
72M▼ 88.6%
431M▲ 498.6%
646M▲ 49.9%
611M▼ 5.4%
240M▼ 60.7%
2.48B▲ 0%
Exchange Rate Effect69M-118M63M297M-235M-549M264M-387M678M1.43B
Cash at Beginning431M756M4.52B5.94B6.57B6.64B7.08B7.72B8.33B8.57B
Cash at End756M656M5.94B6.57B6.64B7.08B7.72B8.33B8.57B9.46B
Free Cash Flow
551M▲ 0%
1.45B▲ 162.4%
1.61B▲ 11.3%
2.64B▲ 64.1%
2.04B▼ 22.6%
3.02B▲ 47.8%
3.18B▲ 5.3%
2.82B▼ 11.5%
3.22B▲ 14.2%
3.5B▲ 0%
FCF Growth %-73.81%162.43%11.34%64.1%-22.6%47.82%5.29%-11.5%14.24%32.46%
FCF Margin %5.51%13.43%14.62%23.87%16.77%24.22%23.8%17.94%18.73%20%
FCF per Share2.115.856.6911.339.0414.1815.5313.2614.8614.86

AON Key Ratios

Aon plc (AON) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Combined Ratio89.35%85.66%80.31%74.87%82.86%70.6%71.7%75.57%74.72%86.65%
Medical Cost Ratio60.04%56.67%54.97%53.36%55.26%51.9%51.6%52.76%52.3%44.14%
Return on Equity (ROE)24.09%25.58%39.96%56%52.94%710.29%-93.32%46.25%44.16%
Return on Assets (ROA)4.65%4.32%5.49%6.4%3.92%8.01%7.69%6.4%7.41%7.59%
Equity / Assets17.82%15.97%11.73%11.16%3.63%-1.31%-2.18%13.13%18.8%19.36%
Book Value / Share17.8317.0814.3315.375.12-2.01-3.6230.2644.146.23
Debt / Equity1.32x1.52x2.48x2.49x9.00x--2.78x1.73x1.73x
Revenue Growth6.26%7.72%2.26%0.48%10.18%2.35%7.19%17.36%9.45%6.9%

AON SEC Filings & Documents

Aon plc (AON) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jan 30, 2026·SEC

Material company update

Jan 7, 2026·SEC

Material company update

Jan 2, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 18, 2025·SEC

FY 2024

Feb 16, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 1, 2026·SEC

FY 2025

Oct 31, 2025·SEC

FY 2025

Jul 25, 2025·SEC

AON Frequently Asked Questions

Aon plc (AON) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Aon plc (AON) grew revenue by 9.4% over the past year. This is steady growth.

Yes, Aon plc (AON) is profitable, generating $3.94B in net income for fiscal year 2025 (21.5% net margin).

Dividend & Returns

Yes, Aon plc (AON) pays a dividend with a yield of 0.94%. This makes it attractive for income-focused investors.

Aon plc (AON) has a return on equity (ROE) of 46.3%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

Aon plc (AON) has a combined ratio of 74.7%. A ratio below 100% indicates underwriting profitability.

Explore More AON

Aon plc (AON) financial analysis — history, returns, DCA and operating performance tools

Full AON Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

→
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