Aon Plc

Finance
Specialty Insurers
www.aon.com

Earnings Score
Moat Score
Safety Score

Market Cap $77.55B
PE 30
Debt $17.63B
Cash $964.00M
EV $94.22B
FCF $2.64B

Earnings

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Sales & Net Margins

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Earnings	$2.55B
EBIT	$3.83B
ROE	35%
ROA	8%
FCF	$2.64B
Equity	$7.20B
Growth Stability	81%
PE	30.44
PEG	2.32
PB	10.78
P/FCF	29.38
P/S	4.74
Price/Cash	0.01
Debt/Equity	2.45
Debt/FCF	6.68
Net Margins	20%
Op. Margins	23%
Earnings CAGR	10%
Sales Growth YoY	16%
Sales Growth QoQ	14%
Sales CAGR	4%
FCF CAGR	13%
Equity CAGR	-7%
Earnings Stability	0.45
Earnings Growth YoY	-10%
Earnings Growth QoQ	35%
Earnings CAGR 5Y	13%

Sales CAGR 5Y	8%
FCF CAGR 5Y	5%
Equity CAGR 5Y	2%
Earnings CAGR 3Y	10%
Sales CAGR 3Y	10%
FCF CAGR 3Y	5%
Equity CAGR 3Y	153%
Market Cap	$77.55B
Revenue	$16.36B
Dividend Yield	1%
Payout Ratio	23%
Assets	$50.30B
Total Debt	$17.63B
Cash	$964.00M
Shares Outstanding	216.37M
EV	94.22B
Earnings Score	43%
Moat Score	92%
Safety Score	73%
Final Score	69%
Working Capital	1.08B
Current Ratio	1.05
Shares Growth 3y	0%
Equity Growth QoQ	14%
Equity Growth YoY	-26K%

Assets & ROA

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Stockholders Equity & ROE

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Aon is a leading global provider of insurance and reinsurance brokerage and human resource solutions. Its operations are tilted toward its brokerage operations. Headquartered in London, Aon has about 50,000 employees and operations in 120 countries around the world.

SEC Filings

Direct access to Aon Plc (AON) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Aon Plc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Aon Plc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 10%

Stability 45%

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Aon Plc Discounted Cash Flow

Fully customizable DCF calculator online for Aon Plc.

Years

Calculation mode

= $64B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2.6B	$3B	$3.4B	$3.8B	$4.3B	$4.8B	$5.4B	$6.1B	$6.9B	$7.7B	$8.7B	$87B
DCF		$2.7B	$2.8B	$2.8B	$2.9B	$3B	$3.1B	$3.1B	$3.2B	$3.3B	$3.4B	$34B
Value	$64B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	12%	12%	12%	11%	14%	18%	10%	21%	19%	17%	20%
ROA	-	7%	4%	6%	7%	9%	7%	11%	11%	8%	8%
ROE	-	25%	26%	27%	44%	55%	108%	-603%	-346%	42%	35%

Good Net Margins (20.41%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	3.16	11.56	4.56	5.07	3.14	5.22	3.92	3.94	6.37	6.68
Debt over Equity	0.93	1.2	1.37	1.56	2.36	2.31	9.22	-27.63	-16.9	2.85	2.45
Growth Stability	-	-	-	85%	100%	100%	81%	100%	100%	100%	81%

Bad Debt/FCF ratio (6.68)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Bad Debt/Equity ratio (2.45)

The company is overleveraged and has a bad balance between equity and debt.

Neutral Graham’s Stability (81%)

The company has a stability in its earnings that is not too good nor too bad.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-0%	-14%	8%	2%	0%	10%	2%	7%	17%	8%
Earnings YoY growth	-	1%	-12%	-8%	35%	29%	-36%	106%	-1%	4%	13%
Equity YoY growth	-	-10%	-16%	-9%	-18%	4%	-68%	-137%	73%	-950%	2%
FCF YoY growth	-	22%	-74%	162%	11%	64%	-23%	48%	5%	-11%	5%