Aon plc $AON

Financials · Insurance Brokers · NYSE/NASDAQ

Profile updated

$296.71
+6.97 (+2.41%)
As of Oct 20, 2026, 10:16 PM EDT
Price history
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Today's analyst average Analyst average over timeIndividual analyst targets Analyst history starts Sep 1, 2026, the first target we tracked for AON.

Key facts

52-week range (closes)
$269.45 – $381.26 Lowest close Oct 2, 2026, highest Jul 28, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Next earnings
Oct 28, 2026, before the open · EPS forecast $3.34 Nasdaq earnings calendar, as of Oct 21, 2026
Fiscal year ends
December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since
Apr 23, 1996 · All S&P 500 changes
Analyst coverage
2 open price targets from 2 firms: Mizuho, Piper Sandler Approved targets tracked here; see the analyst section below

Aon plc (AON) is trading up at $296.71 (+2.41%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Financials sector.

Analyst price targets on AON

Current price targets from 2 firms average $374, ranging from $349 to $398 — 26% above the current $297. Each is tracked to its date and scored the same way a member's call is.

Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.

Aon plc revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)
$17.2B$8.59B$0FY2016 revenue: $9.41BFY2016 net income: $1.40B · Net margin 14.8%'16FY2017 revenue: $10.00BFY2017 net income: $1.23B · Net margin 12.3%'17FY2018 revenue: $10.8BFY2018 net income: $1.13B · Net margin 10.5%'18FY2019 revenue: $11.0BFY2019 net income: $1.53B · Net margin 13.9%'19FY2020 revenue: $11.1BFY2020 net income: $1.97B · Net margin 17.8%'20FY2021 revenue: $12.2BFY2021 net income: $1.25B · Net margin 10.3%'21FY2022 revenue: $12.5BFY2022 net income: $2.59B · Net margin 20.7%'22FY2023 revenue: $13.4BFY2023 net income: $2.56B · Net margin 19.2%'23FY2024 revenue: $15.7BFY2024 net income: $2.65B · Net margin 16.9%'24FY2025 revenue: $17.2BFY2025 net income: $3.69B · Net margin 21.5%'250%10%20%30%FY2016 net margin: 14.8%FY2017 net margin: 12.3%FY2018 net margin: 10.5%FY2019 net margin: 13.9%FY2020 net margin: 17.8%FY2021 net margin: 10.3%FY2022 net margin: 20.7%FY2023 net margin: 19.2%FY2024 net margin: 16.9%FY2025 net margin: 21.5%
Aon plc annual financial statements
FY2016Dec 2016FY2017Dec 2017FY2018Dec 2018FY2019Dec 2019FY2020Dec 2020FY2021Dec 2021FY2022Dec 2022FY2023Dec 2023FY2024Dec 2024FY2025Dec 2025
Income statement
Revenue$9.41B$10.00B$10.8B$11.0B$11.1B$12.2B$12.5B$13.4B$15.7B$17.2B
Growth (year over year)−0.7%+6.3%+7.7%+2.3%+0.5%+10.2%+2.3%+7.2%+17.4%+9.4%
Operating income$1.81B$1.06B$1.54B$2.17B$2.78B$2.09B$3.67B$3.79B$3.83B$4.34B
Operating margin19.2%10.7%14.3%19.7%25.1%17.1%29.4%28.3%24.4%25.3%
Net income$1.40B$1.23B$1.13B$1.53B$1.97B$1.25B$2.59B$2.56B$2.65B$3.69B
Net margin14.8%12.3%10.5%13.9%17.8%10.3%20.7%19.2%16.9%21.5%
EPS (diluted)$5.16$4.70$4.59$6.37$8.45$5.55$12.14$12.51$12.49$17.02
Balance sheet
Cash and equivalents$426.0M$756.0M$656.0M$790.0M$884.0M$544.0M$690.0M$778.0M$1.08B$1.20B
Total assets$26.6B$26.1B$26.4B$29.4B$32.1B$31.9B$32.7B$34.0B$49.0B$50.8B
Total liabilities$21.1B$21.4B$22.2B$26.0B$28.5B$30.8B$33.1B$34.7B$42.5B$41.2B
Long-term debt$5.87B$5.67B$5.99B$6.63B$7.28B$8.23B$9.82B$9.99B$16.3B$14.7B
Shareholders' equity$5.47B$4.58B$4.15B$3.38B$3.50B$1.06B−$529.0M−$826.0M$6.12B$9.35B
Cash flow
Operating cash flow$2.33B$734.0M$1.69B$1.83B$2.78B$2.18B$3.22B$3.44B$3.04B$3.48B
Capital expenditure$156.0M$183.0M$240.0M$225.0M$141.0M$137.0M$196.0M$252.0M$218.0M$263.0M
Free cash flow$2.17B$551.0M$1.45B$1.61B$2.64B$2.04B$3.02B$3.18B$2.82B$3.22B
Dividends paid$345.0M$364.0M$382.0M$410.0M$412.0M$447.0M$463.0M$489.0M$562.0M$629.0M
Share buybacks$1.26B$2.40B————————

From Aon plc's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Aon plc vs the Financials sector and the S&P 500

Aon plc's latest reported figures next to the median of the other 75 S&P 500 Financials companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Aon plc compared with the median Financials company and the median S&P 500 company
MeasureAon plcFinancials (75 other S&P 500 companies)S&P 500 (502 other companies)
Revenue growth, latest fiscal year+9.4%+7.2%+7.0%
Net margin, latest fiscal year21.5%19.3%12.9%
Dividend per share, latest fiscal year$2.91$2.35$2.40
Share price change, 1 year−13.8%+9.3%+7.5%

Aon plc: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 20, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Aon plc included, are the last regular-session prices of October 20, 2026; the 1-year change compares that price with each company's last close on or before October 20, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 75/496, net margin 75/496, dividend per share 61/349, 1-year price change 75/488; the reasons below can overlap. 14 are left out of the price figure because our archive holds no comparable close for them; dividend medians are among the 61 sector and 349 S&P 500 companies reporting a per-share dividend. The S&P 500 price figure is the middle company's change, not the index's return.

About Aon plc

Headquarters
Dublin, Ireland From SEC filings, Oct 2026

Company profile

Aon plc describes itself in its annual report for 2025 (Form 10-K) as a leading global professional services firm, which provides clients with Risk Capital and Human Capital expertise and solutions to help them make better risk and people decisions. The 10-K says Aon is incorporated in Ireland; its cover gives its address as 15 George's Quay, Dublin 2, Ireland. It serves clients in more than 120 countries, and as of December 31, 2025 it employed approximately 60,000 employees. Its fiscal year ends December 31. Its Class A ordinary shares trade on the NYSE under the symbol AON, with 214,254,496 shares outstanding on February 12, 2026 (10-K cover) and 212,125,434 on July 28, 2026 (10-Q cover). The 10-K says Aon manages its business within two reportable segments: Risk Capital and Human Capital.

For 2025 the consolidated statements of income report total revenue of $17,181 million, against $15,698 million in 2024, operating income of $4,344 million, against $3,835 million, and net income attributable to Aon shareholders of $3,695 million, or $17.02 per diluted share, against $2,654 million, or $12.49, in 2024. The 10-K (Item 7) says total revenue increased in 2025 reflecting 6% organic revenue growth (a non-GAAP measure), acquired revenues from NFP, and a favorable impact from foreign currency translation, and that other income of $1,211 million, against $348 million in 2024, increased primarily due to gain on the sale of businesses, particularly the NFP Wealth business sold in the fourth quarter. On April 25, 2024 Aon acquired NFP Intermediate Holdings A Corp. (NFP) for an aggregate U.S. GAAP purchase price totaling $9.1 billion, and on October 30, 2025 it completed the sale of a significant majority of NFP's wealth businesses to Madison Dearborn Partners, LLC, for total cash proceeds on closing of $2.3 billion and a pre-tax gain of $1.2 billion (10-K). Cash provided by operating activities was $3,481 million in 2025; Aon spent $1,000 million on share repurchase and $629 million on cash dividends to shareholders (10-K, cash flows). The 10-K reports adjusted diluted earnings per share of $17.07, against $15.60 in 2024, and an adjusted operating margin of 32.4%, against 31.5%, both non-GAAP measures.

According to its 10-Q for the quarter ended June 30, 2026 (unaudited), total revenue was $4,246 million, against $4,155 million a year earlier, and net income attributable to Aon shareholders was $551 million, or $2.58 per diluted share, against $579 million, or $2.66. The 10-Q says revenue increased $91 million, or 2%, reflecting 5% organic revenue growth (a non-GAAP measure) and a 1% favorable impact from foreign currency translation, partially offset by a 4% unfavorable impact primarily from divestitures largely due to the divestitures of the NFP Wealth business and Stroz Friedberg; Risk Capital revenue increased $140 million, or 5%, and Human Capital revenue decreased $47 million, or 4%; the 10-Q says Wealth Solutions revenue decreased $93 million, or 18%, due primarily to the sale of the NFP Wealth business in the fourth quarter of 2025. It says net income decreased $29 million, or 5%, due to the factors set out in its results highlights and a $73 million decrease in Other income (expense). In its July 29, 2026 release Aon reported adjusted EPS of $3.81, against $3.49, a non-GAAP measure, and said it was reaffirming 2026 guidance of mid-single-digit or greater organic revenue growth, 70-80 basis points of adjusted operating margin expansion, strong adjusted EPS growth and double-digit free cash flow growth (company projections, non-GAAP measures). Gregory C. Case, Chief Executive Officer, and Edmund Reese, Chief Financial Officer, certified the 10-Q (Exhibits 31.1 and 31.2). In a Form 8-K filed August 17, 2026, Aon said Mr. Reese would transition from his role as Executive Vice President and Chief Financial Officer effective August 17, 2026, to serve as a senior advisor until August 16, 2027, and that Nadin Virani would serve as interim Chief Financial Officer.

In a Form 8-K filed August 31, 2026, Aon reported that on August 30, 2026 it entered into an Agreement and Plan of Merger under which it will acquire USI Advantage Corp. for a purchase price of $17 billion in cash, subject to downward adjustments for leakage since June 30, 2026. Completion is subject to customary closing conditions, including receipt of applicable regulatory approvals, and either party may terminate if the closing has not occurred by June 1, 2027, subject to up to two three-month extensions relating to regulatory approvals. A Form 8-K filed September 17, 2026 reports the sale of senior notes in seven series due from 2029 to 2056, with net proceeds of approximately $13,400,800,000, which the issuers intend to use for general corporate purposes, including paying the cash consideration for the USI acquisition; if the acquisition is not consummated within the stated period, the USI Acquisition Notes (all series except the 2056 Notes) must be redeemed at 101% of principal plus accrued interest. A Form 8-K filed September 22, 2026 reports that on September 18, 2026 Aon and certain subsidiaries entered into credit agreements providing unsecured delayed draw term loan facilities of $4,000,000,000 and a $3,000,000,000 unsecured revolving credit facility, which replaces two $1,000,000,000 revolving credit facilities.

Summary sources:123456789101112131415

$17,181 million4
Total revenue, 2025 (year ended December 31, 2025)
$4,344 million4
Operating income, 2025
$3,695 million4
Net income attributable to Aon shareholders, 2025
$17.024
Diluted net income per share attributable to Aon shareholders, 2025
$11,290 million3
Risk Capital total revenue, 2025
$5,907 million3
Human Capital total revenue, 2025
$3,481 million5
Cash provided by operating activities, 2025
$1,000 million5
Share repurchase, 2025
$629 million5
Cash dividends to shareholders, 2025
$1,195 million16
Cash and cash equivalents, December 31, 2025
$14,660 million16
Long-term debt, December 31, 2025
$9,352 million16
Total Aon shareholders' equity, December 31, 2025
approximately 60,0001
Employees, December 31, 2025
$17.071
Adjusted diluted earnings per share, 2025 (non-GAAP, as reported by Aon)
$4,246 million8
Total revenue, quarter ended June 30, 2026 (unaudited)
$9,280 million8
Total revenue, six months ended June 30, 2026 (unaudited)
$551 million8
Net income attributable to Aon shareholders, quarter ended June 30, 2026 (unaudited)
$2.588
Diluted net income per share attributable to Aon shareholders, quarter ended June 30, 2026 (unaudited)
$986 million17
Cash provided by operating activities, six months ended June 30, 2026 (unaudited)
$12,947 million18
Long-term debt, June 30, 2026
$3.819
Adjusted EPS, quarter ended June 30, 2026 (non-GAAP, as reported by Aon)
$17 billion in cash, subject to downward adjustments for leakage since June 30, 202613
USI Advantage Corp. purchase price (as reported in Form 8-K, August 31, 2026)

Revenue by fiscal year, as reported in 10-K

Fiscal yearRevenue (as reported in 10-K)Reported asFiled
2021$12,193 million19Form 10-K for 2021 (year ended December 31, 2021), total revenue, in millions as filedFeb 18, 2022
2022$12,479 million20Form 10-K for 2022 (year ended December 31, 2022), total revenue, in millions as filedFeb 17, 2023
2023$13,376 million21Form 10-K for 2023 (year ended December 31, 2023), total revenue, in millions as filedFeb 16, 2024
2024$15,698 million22Form 10-K for 2024 (year ended December 31, 2024), total revenue, in millions as filedFeb 18, 2025
2025$17,181 million4Form 10-K for 2025 (year ended December 31, 2025), total revenue, in millions as filedFeb 13, 2026

Products

Risk Capital

NameReleasedWhat it is
Commercial Risk Solutions—Brokerage and consulting services that help organizations develop, improve, and implement their risk management strategies. It includes insurance and specialty brokerage, global risk consulting, captives management, and Affinity programs (10-K, Item 1).1
Reinsurance Solutions—Includes treaty reinsurance, facultative reinsurance, Strategy and Technology Group and capital markets, which the 10-K describes as a global investment bank with expertise in insurance-linked securities, capital raising, strategic advice, restructuring, and mergers and acquisitions.1
Data Center Lifecycle Insurance Program—Launched in 2025, a proprietary program designed to support data center projects from construction through ongoing operations by bringing together traditionally fragmented risk classes into a single coordinated insurance solution (10-K, Item 1).1
Capital Insights Explorer, ReMetrica and PathWise—Analytics and modeling tools the 10-K names among those the Strategy and Technology Group uses, with strategic advice and data-driven consulting, to help clients deploy capital efficiently and effectively.1

Human Capital

NameReleasedWhat it is
Health Solutions—Includes consulting and brokerage, consumer benefits, compensation, and talent advisory services (10-K, Item 1).1
Wealth Solutions—Includes retirement consulting, pension administration, and investments consulting; for defined contributions the 10-K says Aon offers Master Trusts and Pooled Employer Plans.1

Segments and products

Risks

Frequently asked questions

What does Aon do?
Aon plc describes itself in its 10-K for 2025 as a leading global professional services firm. Its Risk Capital segment supports clients through its Commercial Risk solution line (insurance and specialty brokerage, global risk consulting, captives management, and Affinity programs) and its Reinsurance solution line (treaty reinsurance, facultative reinsurance, the Strategy and Technology Group, and capital markets). Its Human Capital segment supports clients through its Health solution line (consulting and brokerage, consumer benefits solutions, and talent advisory services) and its Wealth solution line (retirement consulting, pension administration, and investments consulting).
Where is Aon based?
The 10-K says Aon is incorporated in Ireland, and its cover gives its address as 15 George's Quay, Dublin 2, Ireland. Its Class A ordinary shares trade on the NYSE under the symbol AON.
How much revenue did Aon make in 2025?
Total revenue was $17,181 million in 2025, against $15,698 million in 2024, according to its 10-K. Net income attributable to Aon shareholders was $3,695 million, or $17.02 per diluted share, against $2,654 million, or $12.49.
What are Aon's segments?
Two reportable segments: Risk Capital, with 2025 total revenue of $11,290 million and operating income of $3,436 million, and Human Capital, with $5,907 million and $1,410 million (10-K for 2025, segment note).
What were Aon's second-quarter 2026 results?
Its 10-Q reports total revenue of $4,246 million for the quarter ended June 30, 2026, against $4,155 million a year earlier, and net income attributable to Aon shareholders of $551 million, or $2.58 per diluted share, against $579 million, or $2.66. In its July 29, 2026 release Aon reported adjusted EPS, a non-GAAP measure, of $3.81, against $3.49.
What is Aon's outlook for 2026?
In its July 29, 2026 release Aon said it was reaffirming 2026 guidance of mid-single-digit or greater organic revenue growth, 70-80 basis points of adjusted operating margin expansion, strong adjusted EPS growth and double-digit free cash flow growth. These are the company's own projections, based on non-GAAP measures, not reported results.
Is Aon buying USI?
A Form 8-K filed August 31, 2026 says Aon entered into a merger agreement on August 30, 2026 to acquire USI Advantage Corp. for a purchase price of $17 billion in cash, subject to downward adjustments for leakage since June 30, 2026. Completion is subject to customary closing conditions, including receipt of applicable regulatory approvals.
Does Aon pay a dividend?
Yes. Cash dividends to shareholders were $629 million in 2025 (10-K, cash flows), and the 10-K says Aon paid a quarterly cash dividend of $0.745 per share in February 2026. Its 10-Q for the quarter ended June 30, 2026 says that on July 10, 2026 Aon announced a $0.820 per share dividend payable August 14, 2026.
Who runs Aon?
Gregory C. Case is Chief Executive Officer; he certified Aon's 10-Q for the quarter ended June 30, 2026, together with Edmund Reese as Chief Financial Officer. A Form 8-K filed August 17, 2026 says Mr. Reese would transition from that role effective August 17, 2026, and that Nadin Virani would serve as interim Chief Financial Officer.

Sources

  1. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2025, Feb 13, 2026
  2. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2025: Cover (XBRL financial report R1), Feb 13, 2026
  3. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2025: Segment Information note (XBRL financial report R26), Feb 13, 2026
  4. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2025: Consolidated Statements of Income (XBRL financial report R3), Feb 13, 2026
  5. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2025: Consolidated Statements of Cash Flows (XBRL financial report R9), Feb 13, 2026
  6. Aon plc (SEC filing), Aon plc Form 10-Q for the quarterly period ended June 30, 2026, Jul 29, 2026
  7. Aon plc (SEC filing), Aon plc Form 10-Q for the quarterly period ended June 30, 2026: Cover (XBRL financial report R1), Jul 29, 2026
  8. Aon plc (SEC filing), Aon plc Form 10-Q for the quarterly period ended June 30, 2026: Condensed Consolidated Statements of Income (Unaudited) (XBRL financial report R2), Jul 29, 2026
  9. Aon plc (SEC filing), Aon plc Form 8-K, Item 2.02, Exhibit 99.1: press release dated July 29, 2026, Aon Reports Second-Quarter 2026 Results, Jul 29, 2026
  10. Aon plc (SEC filing), Aon plc Form 10-Q for the quarterly period ended June 30, 2026, Exhibit 31.1: certification of the Chief Executive Officer, Jul 29, 2026
  11. Aon plc (SEC filing), Aon plc Form 10-Q for the quarterly period ended June 30, 2026, Exhibit 31.2: certification of the Chief Financial Officer, Jul 29, 2026
  12. Aon plc (SEC filing), Aon plc Form 8-K, Items 5.02 and 9.01: Chief Financial Officer transition and appointment of an interim Chief Financial Officer (event date August 17, 2026), Aug 17, 2026
  13. Aon plc (SEC filing), Aon plc Form 8-K, Items 1.01, 7.01 and 9.01: Agreement and Plan of Merger with USI Advantage Corp. (event date August 30, 2026), Aug 31, 2026
  14. Aon plc (SEC filing), Aon plc Form 8-K, Items 8.01 and 9.01: underwriting agreement and issuance of senior notes due 2029 to 2056 (event date September 14, 2026), Sep 17, 2026
  15. Aon plc (SEC filing), Aon plc Form 8-K, Items 1.01, 1.02, 2.03 and 9.01: term loan and revolving credit agreements (event date September 18, 2026), Sep 22, 2026
  16. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2025: Consolidated Statements of Financial Position (XBRL financial report R5), Feb 13, 2026
  17. Aon plc (SEC filing), Aon plc Form 10-Q for the quarterly period ended June 30, 2026: Condensed Consolidated Statements of Cash Flows (Unaudited) (XBRL financial report R8), Jul 29, 2026
  18. Aon plc (SEC filing), Aon plc Form 10-Q for the quarterly period ended June 30, 2026: Condensed Consolidated Statements of Financial Position (XBRL financial report R4), Jul 29, 2026
  19. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2021: Consolidated Statements of Income (XBRL financial report R3), Feb 18, 2022
  20. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2022: Consolidated Statements of Income (XBRL financial report R3), Feb 17, 2023
  21. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2023: Consolidated Statements of Income (XBRL financial report R3), Feb 16, 2024
  22. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2024: Consolidated Statements of Income (XBRL financial report R3), Feb 18, 2025
  23. Aon plc (SEC filing), Aon plc Form 10-K for the fiscal year ended December 31, 2025: Revenue from Contracts with Customers, Disaggregation of Revenue (Details) (XBRL financial report R50), Feb 13, 2026
  24. Aon plc (SEC filing), Aon plc Form 10-Q for the quarterly period ended June 30, 2026: Revenue from Contracts with Customers, Schedule of Disaggregation of Revenue (Details) (XBRL financial report R38), Jul 29, 2026

Figures last checked against the sources above on . General information, not investment advice.

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