TORVANTA
Financials · S&P 500 · data as of 2026-10-05

AON stock analysis: Aon

Aon (AON) is an S&P 500 company in Insurance Brokers. It grades weakest on momentum.

The model's view of AON · subscribers

Where AON ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with AON · updated 2026-10-05 · from prices and SEC filings

AON price performance

AON against the S&P 500, one year
-20%+0%+20%S&P 500 +18%AON -23%2025-09-292026-10-05
Year to date-22.4%S&P 500 +14.5% · behind by 36.9 pts
1 year-24.5%S&P 500 +17.0% · behind by 41.6 pts
3 years-14.3%S&P 500 +89.3% · behind by 103.6 pts
5 years-3.0%S&P 500 +91.3% · behind by 94.4 pts

Total returns with dividends reinvested.

AON factor grades

Each grade compares AON with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

CValueP/E 15.0x (industry 19.2x)FCF yield 5.6% (industry 5.7%)
B-GrowthRevenue growth +5% (industry +7%)EPS growth +52% (industry -2%)
B-ProfitabilityOperating margin 26.5% (industry 21.9%)ROIC 15.5% (industry 14.9%)
D-Momentum12-month change -25%From 52-wk high -28%

AON in plain numbers

AON key statistics

SectorFinancials
IndustryInsurance Brokers
IndexS&P 500
Market value$57.7B
Revenue growth (y/y)+5%
Free-cash-flow yield5.6%
Dividend yield1.2%
Next earnings (expected)2026-10-30
Valuation measures
Market value$57.7B
Enterprise value$71.6B
P/E (trailing)15.0x
Forward P/E (Torvanta estimate)13.0x
PEG (Torvanta estimate)0.86
Price / sales3.3x
Price / book6.0x
EV / revenue4.1x
EV / EBITDA15.4x
Financial highlights
Revenue, last 12 months$17.6B
Net income, last 12 months$3.9B
EPS, last 12 months (GAAP)$18.13
Operating margin26.5%
Net margin22.3%
Return on equity44.9%
Return on invested capital15.5%
Cash$1.1B
Total debt$15.0B
Debt / equity1.56x
Free cash flow, last 12 months$3.2B
Interest cover6.2x
Current ratio1.03x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

AON earnings trends

Revenue vs earnings
$0$1.3B$2.5B$3.8B$5.0BSep 2024 Revenue: $3.7BDec 2024 Revenue: $4.1BMar 2025 Revenue: $4.7BJun 2025 Revenue: $4.2BSep 2025 Revenue: $4.0BDec 2025 Revenue: $4.3BMar 2026 Revenue: $5.0BJun 2026 Revenue: $4.2BSep 2024 Net income: $343.0MDec 2024 Net income: $716.0MMar 2025 Net income: $1.0BJun 2025 Net income: $579.0MSep 2025 Net income: $458.0MDec 2025 Net income: $1.7BMar 2026 Net income: $1.2BJun 2026 Net income: $551.0MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 9.2%Net margin: 17.3%Net margin: 20.4%Net margin: 13.9%Net margin: 11.5%Net margin: 39.4%Net margin: 24.1%Net margin: 13.0%0%20%39%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$2.0$3.9$5.9$7.8Sep 2024 EPS (GAAP, diluted): $1.6Dec 2024 EPS (GAAP, diluted): $3.3Mar 2025 EPS (GAAP, diluted): $4.4Jun 2025 EPS (GAAP, diluted): $2.7Sep 2025 EPS (GAAP, diluted): $2.1Dec 2025 EPS (GAAP, diluted): $7.8Mar 2026 EPS (GAAP, diluted): $5.6Jun 2026 EPS (GAAP, diluted): $2.6Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +34% · Dec 2025 +137% · Mar 2026 +27% · Jun 2026 -3%

From the company's 10-Q and 10-K filings with the SEC.

Aon financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$12.2B$12.5B$13.4B$15.7B$17.2B
Net income$1.3B$2.6B$2.6B$2.7B$3.7B
EPS (GAAP)$5.50$12.12$12.49$12.67$17.01
Free cash flow$2.0B$3.0B$3.2B$2.8B$3.2B

AON earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-29$2.58-3%+2%-4.0%
2026-05-01$5.63+27%+6%+1.4%
2026-01-30$7.81+137%+4%+2.0%
2025-10-31$2.11+34%+7%+3.3%
2025-07-25$2.66+8%+11%+3.1%
2025-04-25$4.43-17%+16%-6.7%

About Aon

HeadquartersDublin 2, Ireland
Industry (SEC code)Insurance Agents, Brokers & Service
Fiscal year endsDecember 31
Incorporated inIreland
Listed onNYSE
FormerlyAON CORP

From the company's SEC registration record.

Companies similar to AON

CompanyMarket valueP/ERevenue growthOperating margin12-month change
AON Aon$57.7B15.0x+5%26.5%-25%
AJG Arthur J. Gallagher$58.2B37.7x+26%n/a-26%compare
MRSH Marsh McLennan$81.3B20.8x+8%21.6%-13%compare
WTW Willis Towers Watson$26.8B17.8x+3%22.2%-16%compare
BRO Brown & Brown$20.4B19.2x+34%n/a-35%
ERIE Erie Indemnityn/an/a+4%17.9%-29%

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Frequently asked questions

Is AON stock a buy?

Torvanta does not tell individuals what to buy. Its grades for AON are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is AON's P/E ratio?

AON trades at about 15.0 times its last 12 months of GAAP earnings reported to the SEC, and about 13.0 times Torvanta's own estimate of the next 12 months.

When does AON report earnings next?

Based on its filing history, Torvanta expects Aon to report around 2026-10-30.

Does AON pay a dividend?

Yes. Its dividend yield is about 1.2%, and it has raised its dividend 6 years in a row.

How has AON performed against the S&P 500?

Over the past year AON returned -24.5%, against +17.0% for the S&P 500, dividends reinvested.

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Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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