Aon plc (AON)
Financials · Insurance Brokers · US stock · S&P 500 component
$292.55
▲ +5.75 (2.00%)
Fair valueFair
$402 +37.4% to fair value
$201fair band $281–$523$603
Day's range
$287.74 – $292.73
52-week range
$266.33 – $381.47
About Aon plc
Aon is a professional services firm that advises organisations on risk, retirement, health and human capital. It acts as an insurance and reinsurance broker, helping clients place cover with insurers, and it also provides consulting on pensions, employee benefits, data and analytics. Its customers are corporations, institutions and public bodies in many countries, and it works through teams organised around commercial risk, reinsurance, health solutions and wealth.
Revenue consists mainly of fees and commissions for placing insurance and for advice. It was $17.6 billion over the last twelve months, with growth of 11.2% a year across the last three years. The operating margin is 26.5%, and the business earns a profit of 16% on the capital invested in it. Net debt is 2.9 times EBITDA. The dividend yield is 1.1%. On the site's X-Ray Score it receives 50 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $266.33 – $381.47Volume 1,840,100Daily, split-adjusted
Vitals
Market cap$62.6B
52-week range$266.33 – $381.47
Volume (last day)1,840,100
P/E (TTM)16.1
EBIT / EV yield6.1%
Free-cash-flow yield5.2%
Dividend yield1.1%
Revenue (TTM)$17.6B
Net income (TTM)$3.9B
Operating margin26.5%
Return on capital15.6%
Debt incl. leases$15.0B
Cash & securities$1.3B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$402model spread $367 – $450
Fair
+37.4% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $293
Undervalued < $281Fair $281 – $523Overvalued > $523
10-year DCF (market-scaled)
$506
Peer multiples
$239
Earnings power floor (not blended)
$154
Fundamentals-adjusted multiple
$462
Growth the price implies
6.7%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.
Valuation
Fair
59/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield6.1%
Free-cash-flow yield5.2%
Fair value vs price1.4×
Growth
Fair
60/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)11.2%
EPS growth (3y)11.9%
Growth consistency100%
Profitability
Weak
46/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital15.6%
Operating margin26.5%
Financial health
Weak
33/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA2.9×
Interest cover6.2×
Dividends
Fair
55/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.1%
Dividends vs free cash flow21%
Dividend growth10.8%
Quarterly results: last 6 quarters
+16.2%
Mar '25
+10.5%
Jun '25
+7.4%
Sep '25
+3.7%
Dec '25
+6.4%
Mar '26
+2.2%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $4.2B, diluted EPS $2.58.
Compare with peers
BRO Brown & Brown, Inc.53 MRSH Marsh & Mclennan Compa...50 WTW Willis Towers Watson P...43 AJG Arthur J. Gallagher &...38Other Insurance Brokers companies by X-Ray Score.
Fundamentals checklist
● 3 Good · ● 7 Average · ● 5 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldAverage
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioAverage
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceGood
EBIT / EV yieldAverage
Profitability
Return on invested capitalAverage
Operating marginAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 46/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $12.2B | $12.5B | $13.4B | $15.7B | $17.2B |
| Operating income | $2.1B | $3.7B | $3.8B | $3.8B | $4.3B |
| Net income | $1.3B | $2.6B | $2.6B | $2.7B | $3.7B |
| Operating cash flow | $2.2B | $3.2B | $3.4B | $3.0B | $3.5B |
| Operating margin | 17.1% | 29.4% | 28.3% | 24.4% | 25.3% |
| Free cash flow | $2.0B | $3.0B | $3.2B | $2.8B | $3.2B |
| Diluted EPS | $5.55 | $12.14 | $12.51 | $12.49 | $17.02 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
5 bullish · 1 neutral · 10 bearish
Weekly
Strongly bearish
0 bullish · 1 neutral · 11 bearish
Monthly
Strongly bearish
0 bullish · 1 neutral · 7 bearish
Moving averages (daily)
| SMA 10 | 277.1 | Bullish |
| EMA 10 | 280.3 | Bullish |
| SMA 20 | 277.7 | Bullish |
| EMA 20 | 283.8 | Bullish |
| SMA 50 | 311.6 | Bearish |
| EMA 50 | 302.6 | Bearish |
| SMA 100 | 327.2 | Bearish |
| EMA 100 | 316.5 | Bearish |
| SMA 200 | 327.0 | Bearish |
| EMA 200 | 326.4 | Bearish |
Oscillators (daily)
| RSI (14) | 53.52 | Neutral |
| MACD (12, 26) | -7.59 | Bearish |
| Momentum (12) | 5.70 | Bullish |
| Stochastic %K (14) | 99.32 | Bearish |
| Williams %R (14) | -0.68 | Bearish |
| CCI (20) | 170.5 | Bearish |
Pivot points (classic, last session)
S3 284.3 | S2 286.0 | S1 289.3 | Pivot 291.0 | R1 294.3 | R2 296.0 | R3 299.3 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
3.13 USD
Yield on today's price
1.07%
Frequency
Quarterly
Next ex-dividend date
2 Nov 2026
| Ex-dividend date | Amount per share |
|---|---|
| 2 Nov 2026 (upcoming) | 0.8200 |
| 3 Aug 2026 | 0.8200 |
| 1 May 2026 | 0.8200 |
| 2 Feb 2026 | 0.7450 |
| 3 Nov 2025 | 0.7450 |
| 1 Aug 2025 | 0.7450 |
| 1 May 2025 | 0.7450 |
| 3 Feb 2025 | 0.6750 |
| 1 Nov 2024 | 0.6750 |
| 1 Aug 2024 | 0.6750 |
| 30 Apr 2024 | 0.6750 |
| 31 Jan 2024 | 0.6150 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
AON SEC filings
22 Sep 2026
8-KSEC EDGAR
Entered a material agreement
17 Sep 2026
8-KSEC EDGAR
Other events
15 Sep 2026
424B5SEC EDGAR
424B5
11 Sep 2026
424B5SEC EDGAR
424B5
11 Sep 2026
8-KSEC EDGAR
Other events
31 Aug 2026
8-KSEC EDGAR
Entered a material agreement; Regulation FD disclosure
17 Aug 2026
8-KSEC EDGAR
Director or officer change
29 Jul 2026
10-QSEC EDGAR
Quarterly report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.