Aon (AON) FY2015 results: revenue $9.5 billion, down 21.3% on the year
Aon plc (AON) reported revenue of $9.5 billion for fiscal 2015, the year ended 31 December 2015, down 21.3% on the year before. Net income was $1.4 billion, down 0.9%, and diluted earnings per share $4.88. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2016.
Revenue
$9.5 billion
-21.3% on the year
FY2008FY2015
Operating margin
16.7%
16.3% a year earlier
FY2008FY2015
Net income
$1.4 billion
-0.9% on the year
FY2008FY2015
Diluted EPS
$4.88
+4.7% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
9,480
12,045
11,815
-21.3%
Operating income
1,587
1,966
1,671
-19.3%
Operating margin
16.7%
16.3%
14.1%
Interest expense
273
255
210
+7.1%
Pre-tax income
1,428
1,765
1,538
-19.1%
Income tax
175
334
390
-47.6%
Effective tax rate
12.3%
18.9%
25.4%
Net income
1,385
1,397
1,113
-0.9%
Net margin
14.6%
11.6%
9.4%
Diluted EPS
$4.88
$4.66
$3.53
+4.7%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
2,009
1,812
1,753
+10.9%
Capital expenditure
200
256
229
-21.9%
Free cash flow
1,809
1,556
1,524
+16.3%
Free cash flow margin
19.1%
12.9%
12.9%
Cash from investing
-138
-545
-339
Cash from financing
-1,689
-1,303
-1,136
Depreciation and amortisation
164
242
240
-32.2%
Share-based compensation
320
328
300
-2.4%
Buybacks
1,550
2,250
1,102
-31.1%
Dividends paid
323
273
212
+18.3%
Dividend per share
$1.15
$0.92
$0.68
+25.0%
Diluted shares, weighted
284m
300m
315m
-5.3%
Shares outstanding at period end
270m
280m
301m
-3.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
6,002
6,571
8,145
-8.7%
Non-controlling interest
57.0
60.0
50.0
-5.0%
Debt
5,138
4,799
3,686
+7.1%
Other liabilities
15,686
18,342
18,370
-14.5%
Total liabilities and equity
26,883
29,772
30,251
-9.7%
Fixed assets
765
765
791
0.0%
Goodwill
7,068
8,860
8,997
-20.2%
Intangible assets
2,180
2,520
2,578
-13.5%
Investments
491
537
655
-8.6%
Cash and equivalents
384
374
477
+2.7%
Receivables
2,564
2,815
2,896
-8.9%
Other assets
13,431
13,901
13,857
-3.4%
Total assets
26,883
29,772
30,251
-9.7%
10-K for the year ended 31 December 2015, filed 22 February 2016: the filing.