Aon plc (AON)

NYSE: AON · USD

$315

+12.55 (+4.2%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-02

Our latest published analysis: AON rated Buy

Aon plc's published Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$338 / share

Potential value

$420 / share

Upside to FV

+22.6%

from $315

Moat

8/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$58.5B
Revenue (ttm)	17.7B
Net income (ttm)	3.9B
EPS (ttm)	$18.3
Shares out	212.1M
P/E (trailing)	17.2x
P/E (forward)	13.5x
Dividend	$3.28 (1.03%)
Volume	2,215,454
Beta	0.69

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 17.7B
Net income (ttm): 3.9B
EPS (ttm): $18.3
P/E (trailing): 17.2x
P/E (forward): 13.5x
Market cap: $58.5B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$12.19B	$12.48B	$13.38B	$15.70B	$17.18B	+9.0%
Gross profit	$5.46B	$6.00B	$6.47B	$7.42B	$8.20B	+10.7%
Operating income	$2.09B	$3.67B	$3.79B	$3.84B	$4.34B	+20.1%
Net income	$1.26B	$2.59B	$2.56B	$2.65B	$3.70B	+31.0%
EPS (diluted)	$5.55	$12.14	$12.51	$12.49	$17.02	+32.3%
EBITDA	$2.58B	$3.83B	$3.79B	$4.94B	$5.35B	+20.0%
R&D	$0	$0	$0	—	—	+22.5%
SG&A	$2.54B	$1.74B	$1.79B	$2.01B	$1.56B	-11.5%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ACGL	Arch Capital Group Ltd.	34.8B	8.3x	1.8x	15.9%	+15.1%	+18.7%	強い買い
AIG	American International Group Inc.	41.7B	14.7x	1.6x	7.7%	-9.6%	+2.8%	強い買い
AIZ	Assurant, Inc.	14.1B	13.6x	1.0x	14.4%	+6.6%	+36.2%	ホールド
AJG	Arthur J. Gallagher & Co.	66.7B	43.2x	4.4x	6.6%	+15.3%	-5.7%	買い
ALL	The Allstate Corporation	63.2B	5.0x	0.9x	32.6%	+8.5%	+31.8%	強い買い
AMP	Ameriprise Financial, Inc.	43.1B	11.8x	2.2x	43.0%	+8.9%	+1.1%	買い

Base and Bull scenarios

Base60%

Price target

$338.37

+22.6% from spot

In the base case, Aon maintains its disciplined operational execution across core commercial broking and reinsurance placement, achieving mid-single-digit organic revenue expansion consistent with nominal global economic growth. Operating margin expansion aligns with management annual targets as enterprise service efficiencies offset specialized talent compensation expenses. Share repurchases steadily reduce diluted share count, supporting intrinsic convergence toward $338.37 (labelled Fair value at $338.37) with an assigned probability of 60.0% and an implied upside of 22.6% relative to the price of $275.95. This outcome would be disconfirmed by multi-quarter deceleration in organic brokerage revenue or operating margin contraction below targeted levels by the end of FY2026.

Organic revenue growth tracks steady mid-single-digit rates in line with broader commercial exposure growth.
Consolidated operating margin expands moderately in line with management annual guidance.
Consistent free cash flow generation funds steady share repurchases and regular debt service.

Bull15%

Price target

$419.70

+52.1% from spot

In the bull case, expanding complex global risk exposures and strong commercial property and casualty pricing drive organic revenue expansion across Risk Capital and Human Capital. Enhanced operational efficiencies from enterprise analytics platforms expand operating profitability, accelerating free cash flow conversion and funding expanded share repurchases. Under these conditions, the shares project toward $419.70 with an estimated probability of 15.0%, offering an implied return of 52.1% from the analysis price of $275.95. This path requires sustained client demand across emerging risk categories such as data infrastructure, and would be disconfirmed if corporate insurance rate softening emerges before the conclusion of FY2027.

Organic revenue growth accelerates above historical averages driven by complex risk advisory and data center pipelines.
Operating margin expands beyond management annual targets through enterprise technology efficiencies.
Free cash flow conversion remains elevated, enabling accelerated share count contraction.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($338.37). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
7.1%	$361	$369	$378	$388	$400
7.6%	$342	$349	$356	$363	$372
8.1%	$326	$331	$338	$343	$350
8.6%	$312	$316	$321	$326	$331
9.1%	$300	$303	$307	$311	$316

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E13.5

P25 n/aP50 n/aP75 n/a

Trailing P/E15.3

P25 n/aP50 n/aP75 n/a

ROE43.4

P25 n/aP50 n/aP75 n/a

ROIC16.3

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All AON indicators

Market & fundamental data

Available fields

285

Groups with data

Currency

USD

Showing 285 of 285 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000315293
Company name	Aon plc
Country	Ireland
Country code	US
CUSIP number	G0403H108
Earnings date	2026-10-28
Earnings time	bmo
Employees	60,000
Employees change	0
Employees growth	0%
Enterprise value	$80.3B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1919
In index	SP500
Industry	Insurance Brokers
Is primary listing	Yes
Is SPAC	No
ISIN number	IE00BLP1HW54
Last 10-K release date	2026-02-13
Last earnings date	2026-10-28
Last refreshed	2026-10-28
Last stock split date	1999-05-18
Last stock split type	Forward
Market cap	$66.8B
Market cap category	Large-Cap
Next earnings date	2027-01-29
Options	Yes
Price	$315.05
Price currency	USD
Sector	Financials
SIC code	6411
Stock price date	2026-10-28
Symbol	AON
Website	https://www.aon.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	17.03x
Average P/E ratio (10Y)	29.06x
Average P/E ratio (3Y)	24.69x
Average P/E ratio (5Y)	27.9x
Earnings yield	5.81%
EV/Earnings	20.59x
EV/EBIT	16.19x
EV/EBITDA	13.77x
EV/FCF	24.78x
EV/Sales	4.58x
FCF / EV yield	4.03%
FCF yield	4.84%
Forward EV/Sales	3.91x
Forward P/E	16.44x
Forward P/S	3.26x
Graham number	140.04099
Graham upside	-55.98%
Industry forward P/E	16.79x
Industry P/E	27.95x
Lynch fair value	$457.99
Lynch upside	43.95%
P/(FCF - SBC) ratio	23.29x
P/(OCF - SBC) ratio	21.05x
P/B ratio	6.36x
P/E ratio	17.2x
P/FCF ratio	20.66x
P/OCF ratio	18.88x
P/S ratio	3.82x
PEG ratio	1.51x
Price/EBITDA ratio	11.48x
Sector forward P/E	13.61x
Sector P/E	15.65x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	28.28%
EBITDA margin	33.25%
Effective tax rate	21.66%
FCF margin	18.47%
Gross margin	48.29%
Operating margin	28.28%
Pretax margin	28.83%
Profit margin	22.24%
Profit per employee	$65,533
Profitable quarters	19
Profitable years	34
Revenue per employee	$294,683
ROA	5.35%
ROA (5Y)	6.13%
ROCE	12.51%
ROE	43.38%
ROIC	16.27%
ROIC (5Y)	19.9%
SBC / revenue	2.08%
Tax / revenue	6.24%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	46.57%
EPS growth (Q)	5.69%
EPS growth (QoQ)	-13.57%
EPS growth 10Y	12.56%
EPS growth 3Y	11.63%
EPS growth 5Y	35.51%
EPS growth years	1
FCF growth	7.43%
FCF growth (Q)	1.67%
FCF growth (QoQ)	127.12%
FCF growth 3Y	3.53%
FCF growth 5Y	11.6%
Gross profit growth	7.23%
Gross profit growth (Q)	6.35%
Gross profit growth 3Y	11.78%
Gross profit growth 5Y	10.08%
Net income growth	44.67%
Net income growth (Q)	3.93%
Net income growth (QoQ)	-13.61%
Net income growth 3Y	13.03%
Net income growth 5Y	33.83%
Net income growth years	2
OCF growth	8.83%
OCF growth (Q)	3.75%
OCF growth (QoQ)	114.21%
OCF growth 10Y	5.02%
OCF growth 3Y	3.58%
OCF growth 5Y	12.19%
Operating income growth	10.94%
Operating income growth (Q)	-0.61%
Operating income growth 3Y	9.82%
Operating income growth 5Y	21.99%
Revenue growth	3.84%
Revenue growth (Q)	2.6%
Revenue growth (QoQ)	-3.41%
Revenue growth 10Y	5.82%
Revenue growth 3Y	10.43%
Revenue growth 5Y	7.92%
Revenue growth quarters	15
Revenue growth years	9

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-308M
Depreciation and amortization	$878M
EBIT	$5B
EBITDA	$5.9B
EPS	$18.32
FCF per share	$15.40
Financing cash flow	$9B
Free cash flow	$3.3B
Free cash flow minus SBC	$2.9B
Gross profit	$8.5B
Income taxes	$1.1B
Investing cash flow	$-11.6B
Net borrowing	$11.3B
Net cash flow	$951M
Net income	$3.9B
Operating cash flow minus SBC	$3.2B
Operating income	$5B
Revenue	$17.7B
Stock-based compensation	$368M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$47.58
Debt / EBITDA	4.63
Debt / equity	2.82
Debt / FCF	8.81
Goodwill	$15.9B
Interest coverage	6.62
Long-term assets	$25.3B
Long-term liabilities	$29.8B
Net cash (debt)	$-13.5B
Net cash / market cap	-19.94%
Net debt / EBITDA	2.29
Net debt / equity	1.32
Net debt / FCF	4.12
Piotroski F-Score	5
Property, plant and equipment	$1.6B
Shareholders' equity	$10.2B
Tangible book value	$-11.3B
Tangible book value per share	$-53.15
Total assets	$65.1B
Total cash	$15.3B
Total debt	$28.8B
Total liabilities	$54.9B
WACC	6.26%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.3
Current assets	$39.9B
Current liabilities	$25.2B
Current ratio	1.58
Net working capital	$1.1B
Quick ratio	0.8
Working capital	$14.7B
Working capital turnover	2.19

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	1.3%
Dividend growth	10.14%
Dividend growth (10Y)	9.53%
Dividend growth (3Y)	10.05%
Dividend growth (5Y)	10%
Dividend growth years	14
Dividend payment date	2026-11-13
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$3.28
Dividend yield	1.03%
Ex-dividend date	2026-11-02
FCF payout ratio	21.42%
Last dividend	$0.82
Payout ratio	18.07%
Shareholder yield	2.33%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	190.92%
10Y return CAGR	12.28%
10Y total return	218.35%
150-day SMA	$324.40
15Y price change	519.2%
15Y return CAGR	14.05%
15Y total return	618.37%
1D price change	4.15%
1M price change	13.47%
1M total return	13.47%
1W price change	6.31%
1W total return	6.31%
1Y price change	-6.37%
1Y return CAGR	-5.5%
1Y total return	-5.5%
20-day SMA	$286.39
200-day SMA	$325.99
20Y price change	804.82%
20Y return CAGR	12.88%
20Y total return	1,028.73%
3M price change	-14.09%
3M total return	-13.9%
3Y price change	2.78%
3Y return CAGR	1.78%
3Y total return	5.45%
50-day SMA	$303.23
50-day SMA vs 200-day SMA	50under200
52-week high	$382.34
52-week high date	2026-07-28
52-week low	$266.33
52-week low date	2026-10-05
5Y price change	-0.46%
5Y return CAGR	0.72%
5Y total return	3.63%
6M price change	-2.58%
6M total return	-2.1%
All-time high	$412.97
All-time high date	2025-03-03
All-time low	$2.44
All-time low date	1980-12-11
Average true range (ATR)	$7.64
Average volume	1.7M
Beta (1Y)	0.22
Beta (2Y)	0.34
Beta (5Y)	0.69
Change from 52-week high	-17.6%
Change from 52-week low	18.29%
Change from all-time high	-23.62%
Change from all-time low	12,805.89%
Change from open	0.46%
Day's gap	3.67%
Dollar volume	$698M
High price	$318.27
Low price	$308.36
Monthly RSI	46.7
Open price	$313.60
Position in 52-week range	67.51%
Premarket change	4.59%
Premarket close	$302.50
Premarket price	$316.38
Premarket volume	2.4K
Previous close	$302.50
Price vs 150-day SMA	-2.77%
Price vs 20-day SMA	10.14%
Price vs 200-day SMA	-3.24%
Price vs 50-day SMA	4.02%
Relative volume	1.33
RSI	66.43
Sharpe ratio	-0.19
Sharpe ratio (3Y)	-0
Sharpe ratio (5Y)	-0.01
Sortino ratio	-0.07
Sortino ratio (3Y)	0.22
Sortino ratio (5Y)	0.22
Volume	2.2M
Weekly RSI	48.42
YTD price change	-10.62%
YTD total return	-9.98%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	209.3M
Float percentage	98.67%
Shares change (QoQ)	-0.42%
Shares change (YoY)	-1.3%
Shares held by insiders	1.18%
Shares held by institutions	91.63%
Shares outstanding	212.1M
Short % of float	2.02%
Short % of shares	1.99%
Short ratio	1.9 days

Deeper analysis on AON

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this AON report

What is the latest published AON stock rating?

Aon plc is shown with Buy in the latest published report, analyzed 2026-10-02. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full AON analysis?

The full latest published report, analyzed 2026-10-02, lives at /stocks/AON/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for AON?

The latest published report analyzed 2026-10-02 gives AON a fair value of USD 338 and a potential value of USD 420. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the AON page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-02). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

BuyAON · Fair value $338+22.6%

Read full analysis →

Aon plc (AON)

Our latest published analysis: AON rated Buy

Price

Financial snapshot

Fair-value bridge

Latest news · AON

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All AON indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on AON

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	7.5
Management	8.5
Balance Sheet	3.5
Profitability	7.5
Revenue Growth	4.5
Risk Assessment	7.0
Competitive Moat	8.0
Earnings Quality	6.0
Capital Efficiency	6.5