Aon plc
AON stock analysis · Financials · Insurance Brokers
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-04-30. Approximate; share and price dates can differ.
View share-count filing ↗Reviewed cash-flow model
Reviewed operating-business exception limited to this annual period. Aon is a professional-services firm providing risk, broking, human-capital and related advisory services. Its fiduciary assets and liabilities are separately reported; cash reported as corporate cash is distinct from client funds. FY2025 capex includes capitalized software. Reviewed equity is consolidated ($9.459bn), while parent equity remains $9.352bn. Fiduciary assets still enlarge the accrual denominator. Consolidated FCF is an ownership proxy; ordinary and redeemable minority interests require a dated claim bridge before DCF and reverse DCF. Business description ↗
DCF value
Consolidated cash flow includes noncontrolling interests. A dated valuation bridge for those claims has not been reviewed, so per-share DCF and reverse DCF remain unavailable.
How this is calculated ↗Reverse DCF
Consolidated cash flow includes noncontrolling interests. A dated valuation bridge for those claims has not been reviewed, so per-share DCF and reverse DCF remain unavailable.
How this is calculated ↗Relative valuation
69 sector peers · median 17.0×
How this is calculated ↗Historical multiples
7 annual observations · snapshot P/E 19.2× · -36.7% versus history
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete
How this is calculated ↗Value composite
Annual basis · read assumptions below
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Annual basis · read assumptions below
How this is calculated ↗Accrual quality
Annual basis · read assumptions below
How this is calculated ↗Fundamental momentum
Annual basis · read assumptions below
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | — | — | — |
| 10.0% | — | — | — |
| 12.0% | — | — | — |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 17.2B | 3.8B | 3.5B | 263M | 50.8B |
| 2024-12-31 | 15.7B | 2.7B | 3B | 218M | 49B |
| 2023-12-31 | 13.4B | 2.6B | 3.4B | 252M | 34B |
| 2022-12-31 | 12.5B | 2.6B | 3.2B | 196M | 32.7B |
| 2021-12-31 | 12.2B | 1.3B | 2.2B | 137M | 31.9B |
| 2020-12-31 | 11.1B | 2B | 2.8B | 141M | 32.1B |
| 2019-12-31 | 11B | 1.6B | 1.8B | 225M | 29.4B |
| 2018-12-31 | 10.8B | 1.2B | 1.7B | 240M | 26.4B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 17.2B | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-13 |
| netIncome | 3.8B | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-13 |
| Parent/common earnings proxy | 3.7B | NetIncomeLoss | 2026-02-13 |
| cfo | 3.5B | NetCashProvidedByUsedInOperatingActivities | 2026-02-13 |
| capex | 263M | PaymentsToAcquirePropertyPlantAndEquipment | 2026-02-13 |
| operatingIncome | 4.3B | OperatingIncomeLoss | 2026-02-13 |
| assets | 50.8B | Assets | 2026-02-13 |
| equity | 9.5B | Reviewed manual correction Consolidated statement of financial position: parent equity $9,352m plus $107m ordinary noncontrolling interests. The separately stored parentEquity is unchanged; redeemable interests presented outside equity are not added to book equity. | 2026-02-13 |
| Parent book equity proxy | 9.4B | StockholdersEquity | 2026-02-13 |
| debt | 15.2B | LongTermDebt | 2026-02-13 |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 1.2B | CashAndCashEquivalentsAtCarryingValue | 2026-02-13 |
| shares | 217.1M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-13 |
| dividends | 629M | PaymentsOfDividendsCommonStock | 2026-02-13 |
| buybacks | 1B | PaymentsForRepurchaseOfEquity | 2026-02-13 |
| issuance | 70M | ProceedsFromIssuanceOfCommonStock | 2026-02-13 |