Aon (AON) FY2018 results: revenue $10.8 billion, up 7.7% on the year
Aon plc (AON) reported revenue of $10.8 billion for fiscal 2018, the year ended 31 December 2018, up 7.7% on the year before. Net income was $1.1 billion, down 7.5%, and diluted earnings per share $4.59. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$10.8 billion
+7.7% on the year
FY2011FY2018
Operating margin
14.3%
10.7% a year earlier
FY2011FY2018
Net income
$1.1 billion
-7.5% on the year
FY2011FY2018
Diluted EPS
$4.59
-2.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
10,770
9,998
9,409
+7.7%
Operating income
1,544
1,065
1,811
+45.0%
Operating margin
14.3%
10.7%
19.2%
Interest expense
278
282
282
-1.4%
Pre-tax income
1,246
685
1,401
+81.9%
Income tax
146
250
148
-41.6%
Effective tax rate
11.7%
36.5%
10.6%
Net income
1,134
1,226
1,396
-7.5%
Net margin
10.5%
12.3%
14.8%
Diluted EPS
$4.59
$4.70
$5.16
-2.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,686
734
2,326
+129.7%
Capital expenditure
240
183
156
+31.1%
Free cash flow
1,446
551
2,170
+162.4%
Free cash flow margin
13.4%
5.5%
23.1%
Cash from investing
31.0
2,787
-954
-98.9%
Cash from financing
-1,699
-3,265
-1,286
Depreciation and amortisation
176
187
162
-5.9%
Share-based compensation
338
319
306
+6.0%
Buybacks
n/a
2,399
1,257
Dividends paid
382
364
345
+4.9%
Dividend per share
$1.56
$1.41
$1.29
+10.6%
Diluted shares, weighted
247m
261m
270m
-5.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,151
4,583
5,475
-9.4%
Non-controlling interest
68.0
65.0
57.0
+4.6%
Debt
6,244
5,966
6,205
+4.7%
Other liabilities
15,959
15,474
14,878
+3.1%
Total liabilities and equity
26,422
26,088
26,615
+1.3%
Fixed assets
588
564
550
+4.3%
Goodwill
8,171
8,358
7,410
-2.2%
Intangible assets
1,149
1,733
1,890
-33.7%
Investments
226
586
409
-61.4%
Cash and equivalents
656
756
426
-13.2%
Receivables
2,760
2,478
2,106
+11.4%
Other assets
12,872
11,613
13,824
+10.8%
Total assets
26,422
26,088
26,615
+1.3%
10-K for the year ended 31 December 2018, filed 19 February 2019: the filing.