Aon (AON) FY2017 results: revenue $10.0 billion, up 6.3% on the year
Aon plc (AON) reported revenue of $10.0 billion for fiscal 2017, the year ended 31 December 2017, up 6.3% on the year before. Net income was $1.2 billion, down 12.2%, and diluted earnings per share $4.70. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2018.
Revenue
$10.0 billion
+6.3% on the year
FY2010FY2017
Operating margin
10.7%
19.2% a year earlier
FY2010FY2017
Net income
$1.2 billion
-12.2% on the year
FY2010FY2017
Diluted EPS
$4.70
-8.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
9,998
9,409
9,480
+6.3%
Operating income
1,065
1,811
1,587
-41.2%
Operating margin
10.7%
19.2%
16.7%
Interest expense
282
282
273
0.0%
Pre-tax income
685
1,401
1,428
-51.1%
Income tax
250
148
175
+68.9%
Effective tax rate
36.5%
10.6%
12.3%
Net income
1,226
1,396
1,385
-12.2%
Net margin
12.3%
14.8%
14.6%
Diluted EPS
$4.70
$5.16
$4.88
-8.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
734
2,326
2,009
-68.4%
Capital expenditure
183
156
200
+17.3%
Free cash flow
551
2,170
1,809
-74.6%
Free cash flow margin
5.5%
23.1%
19.1%
Cash from investing
2,787
-954
-138
Cash from financing
-3,265
-1,286
-1,689
Depreciation and amortisation
187
162
164
+15.4%
Share-based compensation
319
306
320
+4.2%
Buybacks
2,399
1,257
1,550
+90.9%
Dividends paid
364
345
323
+5.5%
Dividend per share
$1.41
$1.29
$1.15
+9.3%
Diluted shares, weighted
261m
270m
284m
-3.6%
Shares outstanding at period end
n/a
n/a
270m
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,583
5,475
6,002
-16.3%
Non-controlling interest
65.0
57.0
57.0
+14.0%
Debt
5,966
6,205
5,138
-3.9%
Other liabilities
15,474
14,878
15,686
+4.0%
Total liabilities and equity
26,088
26,615
26,883
-2.0%
Fixed assets
564
550
765
+2.5%
Goodwill
8,358
7,410
7,068
+12.8%
Intangible assets
1,733
1,890
2,180
-8.3%
Investments
586
409
491
+43.3%
Cash and equivalents
756
426
384
+77.5%
Receivables
2,478
2,106
2,564
+17.7%
Other assets
11,613
13,824
13,431
-16.0%
Total assets
26,088
26,615
26,883
-2.0%
10-K for the year ended 31 December 2017, filed 20 February 2018: the filing.