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Stocks / United States / AON · Insurance Agents, Brokers & Service · NYSE

Aon plc (AON)

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Aon plc (AON) reported revenue of $4.2 billion for Q2 FY2026, the quarter ended 30 June 2026, up 2.2% on the same quarter a year earlier. Net income was $551 million, down 4.8% on the year, and diluted earnings per share $2.58. The figures are the company's own, from the 10-Q it filed with the SEC on 29 July 2026.

Revenue$4.2 billionup 2.2%
Net income$551 milliondown 4.8%
Diluted EPS$2.58
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE40.8%
ROCE20.6%
Operating margin26.5%
Net margin22.3%
FCF margin18.5%
Interest cover6.16
Debt to equity1.35
Cash conversion0.90
Share count, 1 year-1.6%
Sales CAGR, 3 years11.2%
Profit CAGR, 3 years12.6%
EPS, TTM$18.14

At the close of 21 September 2026

Price$290.82
Market cap$61.7 billion
Stock P/E16.03
Price to book6.43
EV / EBITDAn/a
Dividend yield1.0%
Market cap / sales3.51
52-week high$381.26
52-week low$290.82
Price, 1 year-17.2%
Price CAGR, 3 years-4.7%
Price CAGR, 5 years-0.6%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Aon plc files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on AON

Filings23 in twelve months: 13 current reports (8-K), about 4 officer or director change; 4 results of operations; 3 other events; 2 material agreement; 2 regulation fd disclosure
Planned insider sales8 Form 144 notices in twelve months, $9.9 million; latest 28 July 2026
Options tapeput/call 1.2 by open interest on 23 September 2026; the straddle prices a 5.7% move to 16 October 2026
Holders10 of the followed funds hold it; largest Dodge & Cox; 3 Schedule 13D or 13G filings in twelve months
Insider trading11 sales and 7 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest3.8 million shares short, 4.44 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,9533,3754,0703,7603,7214,1474,7294,1553,9974,3005,0344,246
Operating income6917791,4656566231,0911,4618598161,2081,715915
Operating margin23%23%36%17%17%26%31%21%20%28%34%22%
Interest expense119124144225213206206212206191179179
Pre-tax income5606091,4246984498911,2507035972,2091,553724
Tax rate17%17%23%23%21%18%21%16%21%23%20%22%
Net income4564981,0715243437169655794581,6931,212551
Net margin15%15%26%14%9%17%20%14%11%39%24%13%
Diluted EPS$2.23$2.50$5.35$2.46$1.57$3.11$4.43$2.66$2.11$7.82$5.63$2.58
Operating cash flow1,0431,2613095131,0131,2001407961,1481,397430556
Capital expenditure58.049.048.053.062.055.056.064.069.074.067.073.0
Free cash flow9851,2122614609511,14584.07321,0791,323363483
Dividends paid125123123146147146147161160161162175
Shares outstanding200m198m217m217m216m216m216m216m215m214m214m212m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014 FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue12,0459,4809,4099,99810,77011,01311,06612,19312,47913,37615,69817,18117,577
Operating income1,9661,5871,8111,0651,5442,1692,7812,0903,6693,7853,8354,3444,654
Operating margin16.3%16.7%19.2%10.7%14.3%19.7%25.1%17.1%29.4%28.3%24.4%25.3%26.5%
Interest expense255273282282278307334322406484788815755
Pre-tax income1,7651,4281,4016851,2461,8702,4661,9313,1563,1693,4624,7595,083
Income tax3341751482501462974486235105417421,0091,105
Effective tax rate18.9%12.3%10.6%36.5%11.7%15.9%18.2%32.3%16.2%17.1%21.4%21.2%21.7%
Net income1,3971,3851,3961,2261,1341,5321,9691,2552,5892,5642,6543,6953,914
Net margin11.6%14.6%14.8%12.3%10.5%13.9%17.8%10.3%20.7%19.2%16.9%21.5%22.3%
Diluted EPS$4.66$4.88$5.16$4.70$4.59$6.37$8.45$5.55$12.14$12.51$12.49$17.02$18.14
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow1,8122,0092,3267341,6861,8352,7832,1823,2193,4353,0353,4813,531
Capital expenditure256200156183240225141137196252218263283
Free cash flow1,5561,8092,1705511,4461,6102,6422,0453,0233,1832,8173,2183,248
Free cash flow margin12.9%19.1%23.1%5.5%13.4%14.6%23.9%16.8%24.2%23.8%17.9%18.7%18.5%
Depreciation and amortisation242164162187176n/an/an/an/an/an/an/an/a
Share-based compensation328320306319338317312449397438474432370
Buybacks2,2501,5501,2572,399n/an/an/an/an/an/an/an/an/a
Dividends paid273323345364382410412447463489562629658
Dividend per share$0.92$1.15$1.29$1.41$1.56$1.72$1.78$1.99$2.19$2.41$2.64$2.91n/a
Diluted shares, weighted300m284m270m261m247m241m233m226m213m205m212m217m214m
Shares outstanding at period end280m270mn/an/an/an/an/an/an/an/an/an/a212m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets29,77226,88326,61526,08826,42229,40532,11431,91732,70433,95948,96550,78453,347
Cash and equivalents3743844267566567908845446907781,0851,1951,062
Receivables2,8152,5642,1062,4782,7603,1123,0703,0943,0353,2543,8034,2095,348
Goodwill8,8607,0687,4108,3588,1718,1658,6668,4348,2928,41415,23415,79715,884
Total debt, as filedn/an/an/an/a6,2447,3397,7299,39210,77011,19917,01615,249n/a
Long-term debt4,7995,1386,2055,9666,2447,3397,7299,39210,77011,19917,01615,24912,947
Borrowings, as the company tags themn/an/a6,3146,0696,3467,4447,8359,50810,90911,33317,20715,422n/a
Operating lease liabilitiesn/an/an/an/an/a944897772693641685641730
Finance lease liabilitiesn/an/an/an/an/a76.065.046.028.010.00.00.0n/a
Shareholders' equity6,5716,0025,4754,5834,1513,3753,4951,061-529-8266,1219,3529,598
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.1%9.2%11.2%4.9%
Profit growth, compounded10.3%13.4%12.6%50.4%
Return on equity, averagen/an/a41.4%39.5%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Insurance Agents, Brokers & Service

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Marsh & Mclennan Companies, Inc. MRSH$82.6 billion21.1125.8%21.6%8.3%1.272.0%
Aon plc AON$61.7 billion16.0340.8%26.5%4.9%1.351.0%
Arthur J. Gallagher & Co. AJG$60.6 billion39.246.6%12.6%26.3%0.571.1%
Willis Towers Watson plc WTW$28.5 billion19.0120.4%22.2%3.0%0.751.2%
Brown & Brown, Inc. BRO$21.2 billion20.549.6%n/a34.2%0.62n/a
Erie Indemnity Co. ERIEn/an/a23.4%17.9%3.7%0.00n/a

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202629 July 2026EDGAR
10-Q31 March 20261 May 2026EDGAR
10-K31 December 202513 February 2026EDGAR
10-Q30 September 202531 October 2025EDGAR
10-Q30 June 202525 July 2025EDGAR
10-Q31 March 202525 April 2025EDGAR
10-K31 December 202418 February 2025EDGAR
10-Q30 September 202425 October 2024EDGAR
10-Q30 June 202426 July 2024EDGAR
10-Q31 March 202426 April 2024EDGAR

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