Aon is a leading global provider of insurance and reinsurance brokerage and human resources solutions. Its operations are tilted toward its brokerage operations.
It is a $58.7B financial services company. Revenue grew 4.9% over the last year, and it keeps 22¢ of every dollar of sales as profit. It trades at 14.8× earnings — near the lowest of its own history.
- Website
- aon.com
- Location
- Dublin 2, L2
- Employees
- 60 000
- Sector
- Financial Services
- Founded
- 1982
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation, profitability, quality and moat; Health lags behind.
Valuation85
- P/E vs own history0th pct · 25/25
- FCF yield5.5% · 20/25
- P/S3.3x · 20/25
- EV/EBITDA10.6x · 20/25
Growth62
- Revenue CAGR9.0% · 12/25
- Net income CAGR31.0% · 25/25
- EPS CAGR ~5Y15.0% · 20/25
- Fwd implied growth4.1% · 5/25
Profitability95
- ROIC16.9% · 20/25
- ROE42.6% · 25/25
- Net margin22.3% · 25/25
- Operating margin33.4% · 25/25
Health45
- Altman Z1.18 · 3/25
- Current ratio1.03 · 12/25
- Interest coverage6.9x · 18/25
- Net cash / debtD/A 25% · 12/25
Quality76
- Piotroski F7/9 · 22/25
- Beneish M-2.37 · 20/25
- FCF conversion83% · 22/25
- Margin stabilityσ 9.6% · 12/25
Moat81
- ROIC >12% years9/10 yrs · 25/25
- Median gross margin22.1% · 6/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 10.3% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- Q3 2026Insiders6 open-market insider purchases~20K shares bought by insiders
- FY2025FinancialBest year on record$3.69B net income
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$11.6B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2010AcquisitionAon acquired Hewitt Associates for $4.9 billion
- 2008AcquisitionAon acquired reinsurance intermediary and capital advisor Benfield Group Limited for $1.75 billion
- 2001IPOAlso that year, Endurance Specialty, a Bermuda-based underwriting operation that Aon helped to establish in November…
- 1996AcquisitionAon purchased insurance broker Bain Hogg, the largest insurance brokerage in Britain and the 11th largest…
- 1987MilestoneThe holding company was renamed Aon, derived from aon, a Gaelic word meaning "one"
- 1982FoundedFounded in Chicago by Patrick Ryan, Aon was created in 1982 when the Ryan Insurance Group merged with the Combined…
- 1982AcquisitionAfter 10 years of stagnation under Clement Stone Jr., the elder Stone, then 79, resumed control until the…
- 1976AcquisitionThe company bought the insurance brokerage units of the Esmark conglomerate
- 1939AcquisitionHe bought American Casualty Insurance Co. of Dallas, Texas
- 1918AcquisitionClement Stone's mother bought a small Detroit insurance agency
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (48.6%)
- Strongly profitable — 22.3% net margin
- Strong cash conversion — FCF is 18.5% of revenue
- Interest covered 6.9× by operating earnings
- High returns on invested capital (ROIC 16.9%)
Watch-outs
- Altman Z-Score 1.18 — elevated financial-distress risk
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+4.9% YoY
- Profitable — makes more than it spends$3.91B TTM
- Profit growing — earnings are higher than last year+11.9% YoY
- Generates cash — cash left after running and investing$3.25B TTM
- Debt under control — could handle its obligations~3.8y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$58.7B market cap
- Not printing shares — share count not ballooning — you keep your slice-6.9% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 1.2 — distress
- Pays a dividend — returns cash to shareholdersyield 1.13%
- Valuation not extreme — price not wildly above earningsP/E 14.8
Peer comparisonAon plc vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| AON this company | $58.7B | 14.8 | +4.9% | 22.3% | Mixed |
| BRK.A Berkshire Hathaway Inc. | $1.1T | 11.6 | +3.9% | 22.3% | Mixed |
| BRK.B Berkshire Hathaway | $1.1T | 11.6 | +0.0% | 18.0% | Strong |
| JPM JPMorgan Chase & Co. | $886.2B | 13.6 | +13.5% | 32.6% | Strained |
| V VISA Inc. | $723.9B | 31.9 | +14.4% | 50.8% | Solid |
| MA Mastercard Incorporated | $516.4B | 31.7 | +16.0% | 46.3% | Mixed |
| BAC Bank of America Corporation | $380.4B | 11.3 | +15.9% | 27.8% | Mixed |
Head-to-head: AON vs BRK.A · AON vs BRK.B · AON vs JPM
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/AON
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Deeper analysis of AON on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $276.68 · market cap $58.7B.