Aon plc
- Open
- 340.59
- Day high
- 343.26
- Day low
- 320.21
- Prev close
- 355.40
- Volume
- 2.4M
- Mkt cap
- $68.2B
- P/E (TTM)
- 17.6
- EPS (TTM)
- $18.24
- P/B
- 7.1
- P/S
- 3.9
- Yield
- 0.97%
- Per share
- $3.13
- ▼Insiders net selling -$1.7M over the last 3 months (0 open-market buys, 7 sales)
- 🏛Institutions accumulating (13F)
Aon plc (AON) is a Financial Services company listed on NYSE. The stock is down 11% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 7 sales (SEC Form 4). Drillr has 1 published research article covering AON.
Aon plc (AON) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AON earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 29, 2026 | $3.80 | $3.81 | +0.2% | $4.2B | -0.9% |
| May 1, 2026 | $6.37 | $6.48 | +1.8% | $5.0B | +1.0% |
| Jan 30, 2026 | $4.75 | $4.85 | +2.1% | $4.3B | -2.2% |
| Oct 31, 2025 | $2.91 | $3.05 | +4.7% | $4.0B | +0.5% |
| Jul 25, 2025 | $3.40 | $3.49 | +2.8% | $4.2B | -0.7% |
| Apr 25, 2025 | $6.02 | $5.67 | -5.8% | $4.7B | -2.8% |
| Jan 31, 2025 | $4.25 | $4.42 | +4.0% | $4.1B | -0.9% |
| Oct 25, 2024 | $2.48 | $2.72 | +9.7% | $3.7B | +1.5% |
| Jul 26, 2024 | $3.08 | $2.93 | -4.8% | $3.8B | +1.1% |
| Apr 26, 2024 | $5.90 | $5.66 | -4.1% | $4.1B | -1.6% |
| Feb 2, 2024 | $4.07 | $3.89 | -4.5% | $3.4B | +0.6% |
| Oct 27, 2023 | $2.21 | $2.32 | +5.0% | $3.0B | +2.5% |
AON insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 30, 2026 | Zeidel Darrenofficer: General Counsel | Sell | 700 | $376.00 |
| Jul 30, 2026 | Zeidel Darrenofficer: General Counsel | Sell | 725 | $378.00 |
| Jul 30, 2026 | Zeidel Darrenofficer: General Counsel | Sell | 475 | $380.00 |
| Jul 21, 2026 | Zeidel Darrenofficer: General Counsel | Sell | 625 | $370.00 |
| Jul 21, 2026 | Zeidel Darrenofficer: General Counsel | Sell | 650 | $372.00 |
| Jul 21, 2026 | Zeidel Darrenofficer: General Counsel | Sell | 675 | $374.00 |
| Jul 9, 2026 | Zeidel Darrenofficer: General Counsel | Sell | 600 | $360.00 |
| Jul 6, 2026 | Reese Edmundofficer: Chief Financial Officer | Option | 3,975 | — |
| Jul 6, 2026 | Reese Edmundofficer: Chief Financial Officer | Tax | 2,198 | $343.56 |
| Jun 29, 2026 | Karaboutis Adrianadirector | Tax | 186 | $315.95 |
| Jun 29, 2026 | Karaboutis Adrianadirector | Grant | 776 | $0.01 |
| Jun 29, 2026 | STAVRIDIS JAMES G.director | Tax | 186 | $315.95 |
| Jun 29, 2026 | Jenkins Jo Anndirector | Grant | 776 | $0.01 |
| Jun 29, 2026 | STAVRIDIS JAMES G.director | Grant | 776 | $0.01 |
| Jun 29, 2026 | SMITH SARAH Gdirector | Tax | 186 | $315.95 |
Source: AON SEC Form 4 filings, latest Jul 30, 2026. For informational purposes only — not investment advice.
See the full AON insider & 13F page →Aon plc company profile
Overview
Aon plc (NYSE:AON) is a global professional services firm founded in 1919 and headquartered in Dublin, Ireland. The company has evolved from its origins as a Chicago-based insurance brokerage into one of the world's largest risk management and human capital consulting organizations. Through over a century of growth, both organic and through strategic acquisitions, Aon has built a comprehensive platform serving clients across commercial risk management, reinsurance, health benefits, and wealth management solutions. The company went public in 1980 and today operates in over 120 countries, serving a diverse client base ranging from small businesses to Fortune 500 corporations and government entities.
Business
Aon operates as a professional services firm specializing in risk management, insurance brokerage, and human capital consulting. The company's business is organized into four primary segments that collectively address the complex risk and human resource challenges facing modern organizations. Commercial Risk Solutions represents Aon's largest business segment, providing insurance brokerage and risk consulting services to businesses of all sizes. This division helps clients identify, quantify, and manage various risks including property damage, liability exposures, cyber threats, and operational disruptions. The team acts as an intermediary between clients and insurance carriers, negotiating coverage terms and pricing while providing ongoing risk management advice. This segment also includes captive insurance management, where Aon helps large corporations establish and operate their own insurance subsidiaries. Reinsurance Solutions serves as a broker in the reinsurance market, where insurance companies transfer portions of their risk to other insurers. When an insurance company wants to reduce its exposure to large losses or catastrophic events, Aon helps arrange reinsurance contracts with global reinsurers. This segment also provides capital markets solutions, helping insurers access alternative sources of capital through insurance-linked securities and other innovative financial instruments. Health Solutions focuses on employee benefits consulting and health insurance brokerage. This division helps employers design and implement health and benefits programs for their workforce, including medical insurance, dental coverage, disability benefits, and wellness programs. Aon also operates health care exchanges and provides actuarial services to help clients manage the rising costs of employee benefits while maintaining competitive compensation packages. Wealth Solutions provides retirement consulting and investment advisory services. This segment helps organizations design and manage pension plans, 401(k) programs, and other retirement benefits. The division also offers pension risk transfer services, where companies can transfer their pension obligations to insurance companies, and provides investment consulting for endowments, foundations, and institutional investors. Based on recent financial performance, Commercial Risk Solutions generates approximately 60% of total revenue, followed by Health Solutions at roughly 20%, Reinsurance Solutions at 15%, and Wealth Solutions at 5%.
Revenue model
Aon generates revenue primarily through commission and fee-based services rather than taking principal risk. As an insurance broker, the company earns commissions from insurance carriers when clients purchase coverage, typically ranging from 5-15% of the premium depending on the type of insurance and market conditions. Additionally, Aon charges direct fees to clients for consulting services, risk assessments, and specialized advisory work. The company's revenue model benefits from several characteristics that provide relative stability. Insurance is generally considered a necessary expense for businesses, creating consistent demand even during economic downturns. Many client relationships are long-term in nature, with Aon serving as the ongoing risk management advisor, leading to high client retention rates typically exceeding 90%. The diversity across different types of risks, industries, and geographies provides natural hedging against sector-specific downturns. Several factors can influence Aon's profitability and margins. Insurance market conditions significantly impact revenue, as "hard markets" with rising premiums generate higher commission income, while "soft markets" with declining premiums reduce commissions. Interest rates affect the company's fiduciary investment income, as Aon temporarily holds client premiums before remitting them to insurers. Economic conditions influence client demand for consulting services and the ability of businesses to invest in comprehensive risk management programs. Competition from other major brokers like Marsh McLennan and Willis Towers Watson can pressure commission rates and fee levels. However, Aon's scale, analytical capabilities, and global reach provide competitive advantages in serving large multinational clients. The company's investment in technology and data analytics also helps differentiate its services and justify premium pricing for sophisticated risk modeling and consulting services. Regulatory changes in insurance markets can impact both opportunities and costs, while natural disasters and cyber incidents can drive increased demand for specialized coverage and risk management services. The growing complexity of modern business risks, including cyber threats, climate change, and supply chain disruptions, generally supports demand for Aon's expertise and advisory services.
Competitive moat
Aon possesses a moderate to strong competitive moat based on several key factors, though the strength varies across its business segments. The company's primary competitive advantages stem from its scale, relationships, and specialized expertise rather than from proprietary technology or regulatory barriers. Scale and global reach provide Aon with significant advantages in serving large multinational clients who require coordinated risk management across multiple countries and jurisdictions. The company's presence in over 120 countries allows it to provide consistent service quality and leverage relationships with local insurers worldwide. This global footprint is difficult and expensive for smaller competitors to replicate. Long-term client relationships create switching costs and stickiness in Aon's business model. Risk management and employee benefits are complex, mission-critical functions where clients value continuity and institutional knowledge. Once Aon understands a client's risk profile and organizational structure, there are significant costs and risks associated with changing brokers. Client retention rates consistently above 90% demonstrate this relationship strength. Specialized expertise and data analytics represent growing sources of differentiation. Aon has invested heavily in developing proprietary risk modeling capabilities, particularly in areas like cyber risk, climate risk, and health analytics. The company's access to aggregated industry data across its large client base provides insights that smaller competitors cannot match. Tools like CyQu for cyber risk assessment and various health efficiency analyzers create value that extends beyond traditional brokerage services. However, Aon's moat faces several challenges. The brokerage industry remains highly competitive, with other large players like Marsh McLennan possessing similar scale and capabilities. Fee compression pressure exists, particularly in more commoditized insurance lines. Technology disruption poses a potential threat, as insurtech companies and digital platforms could potentially disintermediate traditional brokers for simpler coverage types. Regulatory risks also exist, as changes in broker compensation structures or disclosure requirements could impact the traditional commission-based model. Additionally, some large corporations are bringing more risk management functions in-house, potentially reducing demand for external consulting services. Overall, Aon's moat is stronger in complex, specialized areas requiring deep expertise and global coordination, while potentially more vulnerable in simpler, more commoditized insurance products. The company's continued investment in technology and analytics appears aimed at strengthening and extending its competitive advantages.
Risks & safety
Aon demonstrates moderate financial safety with generally stable cash flows but elevated debt levels following recent acquisitions. • Cash and Liquidity: $1.1 billion in cash and short-term investments as of Q1 2025, with strong free cash flow generation of $2.8 billion in 2024 • Debt Profile: High debt-to-equity ratio of 2.64x, primarily from the NFP acquisition financing, though management is focused on deleveraging • Cash Flow Stability: Consistent operating cash flow generation averaging over $3 billion annually, supported by recurring client relationships and diversified revenue streams • Valuation Metrics: Trading at 22.4x P/E ratio and 14.1x EV/EBITDA, representing moderate valuation levels for a stable services business • Current Ratio: 1.05x indicates tight working capital management, typical for a brokerage business that holds client funds temporarily • Other Considerations: Strong market position and essential nature of services provide defensive characteristics, though exposure to insurance market cycles creates some earnings volatility
Recent development
Over the past few years, Aon has pursued an ambitious transformation strategy centered on its "3x3 Plan" launched in 2023. This strategic framework focuses on three key areas: leveraging risk capital and human capital solutions, embedding the Aon Client Leadership model, and accelerating Aon Business Services (ABS) platform capabilities. The company made a significant acquisition in 2024 with the purchase of NFP, a middle-market focused insurance brokerage, for approximately $13 billion. This acquisition has exceeded expectations according to management, with strong producer retention and mid-single-digit organic growth. The NFP integration is designed to expand Aon's presence in the middle market while leveraging Aon's advanced analytics and global capabilities. Technology and analytics investments have been a major focus, with Aon developing proprietary risk assessment tools including CyQu for cyber risk analysis, Property Risk Analyzer, and Health Efficiency Analyzer. The company has also invested heavily in artificial intelligence and machine learning capabilities to enhance client insights and operational efficiency. Through ABS, Aon has retired nearly 300 legacy applications while standardizing platforms globally. Talent acquisition in priority areas has been another key initiative, with focused hiring in construction, energy, health, and enterprise client segments. This strategic hiring aims to enhance Aon's capabilities in high-growth specialty areas and strengthen relationships with large global clients. The company has also expanded its reinsurance capabilities with the appointment of John Neal as Global CEO of Reinsurance and Global Chairman of Climate Solutions, reflecting the growing importance of climate-related risks. Additionally, Aon has been developing innovative solutions that integrate reinsurance and commercial risk data to provide more comprehensive risk management approaches. Capital allocation has remained disciplined, with the company maintaining its commitment to returning capital to shareholders through dividends and share repurchases while investing in growth initiatives. The recent dividend increase of 10% and planned $1 billion in share repurchases demonstrate this balanced approach.
AON company profile · for informational purposes only — not investment advice.
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