Aon (AON) FY2023 results: revenue $13.4 billion, up 7.2% on the year
Aon plc (AON) reported revenue of $13.4 billion for fiscal 2023, the year ended 31 December 2023, up 7.2% on the year before. Net income was $2.6 billion, down 1.0%, and diluted earnings per share $12.51. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$13.4 billion
+7.2% on the year
FY2016FY2023
Operating margin
28.3%
29.4% a year earlier
FY2016FY2023
Net income
$2.6 billion
-1.0% on the year
FY2016FY2023
Diluted EPS
$12.51
+3.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,435
3,219
2,182
+6.7%
Capital expenditure
252
196
137
+28.6%
Free cash flow
3,183
3,023
2,045
+5.3%
Free cash flow margin
23.8%
24.2%
16.8%
Cash from investing
-188
-449
49.0
Cash from financing
-2,865
-1,790
-1,924
Share-based compensation
438
397
449
+10.3%
Dividends paid
489
463
447
+5.6%
Dividend per share
$2.41
$2.19
$1.99
+10.0%
Diluted shares, weighted
205m
213m
226m
-3.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
-826
-529
1,061
Non-controlling interest
84.0
100
97.0
-16.0%
Redeemable equity
0.0
n/a
n/a
Debt
11,199
10,770
9,392
+4.0%
Operating lease liabilities
641
693
772
-7.5%
Finance lease liabilities
10.0
28.0
46.0
-64.3%
Other liabilities
22,851
21,642
20,549
+5.6%
Total liabilities and equity
33,959
32,704
31,917
+3.8%
Fixed assets
638
558
529
+14.3%
Goodwill
8,414
8,292
8,434
+1.5%
Intangible assets
234
447
492
-47.7%
Investments
414
512
356
-19.1%
Cash and equivalents
778
690
544
+12.8%
Receivables
3,254
3,035
3,094
+7.2%
Other assets
20,227
19,170
18,468
+5.5%
Total assets
33,959
32,704
31,917
+3.8%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.