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Aon plc operates as a professional services firm in the United States, rest of the Americas, the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, and the Asia Pacific. It operates through Risk Capital and Human Capital segments. The company offers commercial risk solutions comprising retail and insurance brokerage, specialty solutions, global risk consulting, captives management, and affinity programs; health solutions, such as consulting and brokerage, consumer benefits, and talent advisory services; and wealth solutions, including retirement consulting and investments. It also provides treaty and facultative reinsurance; strategy and technology group solutions; insurance-linked securities, capital raising, strategic advice, restructuring, and merger and acquisition services; and risk management products and solutions, capital market solutions, and corporate finance advisory services. In addition, the company offers strategic design advice and actuarial services; pension risk transfer and integrated pension administration; and investment advisory services on developing and maintaining investment programs across various plan types, including defined benefit plans, defined contribution plans, master trusts, and pooled employer plans for corporations, public pensions, endowments, and foundations. Aon plc was incorporated in 1979 and is headquartered in Dublin, Ireland.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $17.2B | $6.5B | $3.7B | $3.2B | 39.5% | 9.4% | 39.2% |
| 2024 | $15.7B | $4.9B | $2.7B | $2.8B | 43.4% | 17.4% | 3.5% |
| 2023 | $13.4B | $3.9B | $2.6B | $3.2B | -310.4% | 7.2% | -1.0% |
| 2022 | $12.5B | $3.8B | $2.6B | $3.0B | -489.4% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 12,479 | 13,376 | 15,698 | 17,181 |
| Cost Of Revenue | - | 6,477 | 6,902 | 8,283 | 8,985 |
| Gross Profit | - | 6,002 | 6,474 | 7,415 | 8,196 |
| Operating Expense | - | 2,333 | 2,554 | 3,191 | 3,487 |
| Operating Income | - | 3,669 | 3,920 | 4,224 | 4,709 |
| EBITDA | - | 3,826 | 3,909 | 4,936 | 6,540 |
| EBIT | - | 3,562 | 3,653 | 4,250 | 5,574 |
| Pretax Income | - | 3,156 | 3,169 | 3,462 | 4,759 |
| Tax Provision | - | 510 | 541 | 742 | 1,009 |
| Net Income | - | 2,589 | 2,564 | 2,654 | 3,695 |
| Net Income Common Stockholders | - | 2,589 | 2,564 | 2,654 | 3,695 |
| Total Expenses | - | 8,810 | 9,456 | 11,474 | 12,472 |
| Interest Expense | - | 406 | 484 | 788 | 815 |
| Interest Income | - | 18 | 31 | 67 | 19 |
| Selling General And Administration | - | 1,560 | 1,764 | 1,966 | 1,953 |
| Normalized EBITDA | - | 3,782 | 4,114 | 4,939 | 5,617 |
| Normalized Income | - | 2,552.11 | 2,733.94 | 2,656.36 | 2,967.69 |
| Market Cap | 69,024.32 | 69,024.32 | 69,024.32 | 69,024.32 | 69,024.32 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Aon plcthis co. | AON | $69.4B | 18.68 | 7.38 | 39.5% | 12.83 |
| Marsh & McLennan Companies, Inc. | MRSH | $83.4B | 19.70 | 5.43 | 27.5% | 13.59 |
| Moody's Corporation | MCO | $81.7B | 32.40 | 19.65 | 60.7% | 21.75 |
| Robinhood Markets, Inc. | HOOD | $75.2B | 40.50 | 8.34 | 20.6% | 38.36 |
| Truist Financial Corporation | TFC | $69.5B | 11.91 | 1.05 |
| - |
| - |
| - |
| 8.8% |
| - |
| The Travelers Companies, Inc. | TRV | $68.4B | 10.24 | 1.96 | 19.1% | - |
| Aflac Incorporated | AFL | $61.1B | 16.20 | 2.00 | 12.4% | - |
| The Allstate Corporation | ALL | $56.8B | 5.35 | 1.92 | 35.9% | - |
| Arthur J. Gallagher & Co. | AJG | $55.2B | 37.06 | 2.37 | 6.4% | 18.57 |
| Peer Median | - | 17.95 | 2.19 | 19.9% | 20.16 | |