Stocktoria

Aon plc AON

NYSE · stock · Insurance Agents, Brokers & Service · website · IPO 1980-06-02 · LEI

Aon plc statistics & valuation

Market cap$70.2B
P / E19.0×
P / S4.1×
P / B7.4×
P / FCF21.8×
Dividend yield0.90%
Net margin21.5%
Return on equity39.1%
FCF margin18.7%
Net debt$14.1B
Net debt / EBITDA3.1×
Enterprise value USD$84.3B
EV / EBITDA18.6×
Earnings yield EBIT/EV5.2%
Return on capital15.8%
Graham number -63.3%$129.17

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($129.17); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
13.90% 17.80% 10.30% 20.70% 19.20% 16.90% 21.50% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
19.20% 10.70% 14.30% 19.70% 25.10% 17.10% 29.40% 28.30% 24.40% 25.30% 2016201720182019202020212022202320242025
Return on equity (%)
44.50% 55.00% 108.40% 42.10% 39.10% 2016201720182019202020212022202320242025
Shares outstanding
270.3M 260.7M 247.0M 240.6M 233.1M 226.1M 213.2M 205.0M 212.5M 217.1M 2016201720182019202020212022202320242025
Net debt ($)
$5.78B $5.21B $5.59B $6.55B $6.84B $8.85B $10.08B $10.42B $15.93B $14.05B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
5.20% 6.10% 3.90% 7.90% 7.60% 5.40% 7.30% 2016201720182019202020212022202320242025
Free cash flow margin (%)
23.10% 5.50% 13.40% 14.60% 23.90% 16.80% 24.20% 23.80% 17.90% 18.70% 2016201720182019202020212022202320242025
Debt / equity (×)
1.11× 1.28× 1.48× 2.13× 2.16× 8.11× 2.70× 1.61× 2016201720182019202020212022202320242025
EPS ($)
$5.16 $4.70 $4.59 $6.37 $8.45 $5.55 $12.14 $12.51 $12.49 $17.02 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Aon plc trades at about 20.7× earnings — below its 10-year norm (10-year range 20.5×–49.8×, median 29.7×).

20.5× 49.8×

Shaded band = 10-year range (20.5×–49.8×); dot = today's 20.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin25.3%24.4%28.3%29.4%17.1%25.1%19.7%14.3%10.7%19.2%
Net margin21.5%16.9%19.2%20.7%10.3%17.8%13.9%———
FCF margin18.7%17.9%23.8%24.2%16.8%23.9%14.6%13.4%5.5%23.1%
Return on assets7.3%5.4%7.6%7.9%3.9%6.1%5.2%———
Return on equity39.1%42.1%-310.4%-489.4%108.4%55.0%44.5%———
Debt / equity1.61×2.70×-13.56×-20.36×8.11×2.16×2.13×1.48×1.28×1.11×
Current ratio1.111.021.001.021.001.071.061.081.071.05

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.