AON Financials Aon plc

14 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 31, 2026, 11:17 UTC Overview →

Growth & profitability

Revenue has grown 9.2% per year over the past 5 years.
Net income has grown faster than revenue (13.4% vs 9.2% per year).
Operating margin has been roughly flat, at 25.3% in the latest year.
Free cash flow has grown 4.0% per year over the past 5 years.

Financial health

Total debt ($15.2B) exceeds cash ($1.2B); net debt is $14.1B.
Total debt has grown faster than revenue (14.6% vs 9.2% per year).
Operating income covered interest expense 5.3× in the latest year.
Total debt is 3.5× EBITDA.

Shareholder returns

Dividends have been paid for 14 consecutive years, consuming 17.0% of earnings and 19.5% of free cash flow.
The dividend has grown 8.8% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$17.2B	$3.7B	0.0%	25.3%	39.5%	7.3%	$3.2B	$15.2B	$1.2B
2024	$15.7B	$2.7B	0.0%	24.4%	43.4%	5.4%	$2.8B	$17.0B	$1.1B
2023	$13.4B	$2.6B	0.0%	28.3%	-310.4%	7.6%	$3.2B	$11.2B	$778M
2022	$12.5B	$2.6B	0.0%	29.4%	-489.4%	7.9%	$3.0B	$10.8B	$690M
2021	$12.2B	$1.3B	0.0%	17.1%	118.3%	3.9%	$2.0B	$9.4B	$544M
2020	$11.1B	$2.0B	0.0%	25.1%	56.3%	6.1%	$2.6B	$7.7B	$884M
2019	$11.0B	$1.5B	0.0%	19.7%	45.4%	5.2%	$1.6B	$7.3B	$790M
2018	$10.8B	—	0.0%	14.3%	0.0%	0.0%	$1.4B	$6.2B	$656M
2017	$10.0B	—	0.0%	10.7%	0.0%	0.0%	$551M	$6.0B	$756M
2016	$9.4B	—	0.0%	19.2%	0.0%	0.0%	$2.2B	$6.2B	$426M
2010	—	$706M	—	—	8.6%	2.4%	$603M	$4.5B	$346M
2009	—	$747M	—	—	13.9%	3.3%	$360M	$2.0B	$217M
2008	—	$1.5B	—	—	27.5%	6.4%	$865M	$1.9B	$582M
2007	—	$864M	—	—	—	—	$1.1B	—	$584M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$4.1B	$476M	0.0%	19.7%	4.7%	0.7%	$1.1B	$26.3B	$2.0B
Jun '26	$4.2B	$551M	0.0%	21.5%	5.7%	1.0%	$483M	$12.9B	$1.1B
Mar '26	$5.0B	$1.2B	0.0%	34.1%	12.3%	2.4%	$363M	$13.5B	$1.2B
Dec '25	$4.3B	$1.7B	0.0%	28.1%	18.1%	3.3%	$1.3B	$15.2B	$1.2B
Sep '25	$4.0B	$458M	0.0%	20.4%	5.8%	0.9%	$1.1B	$15.1B	$1.1B
Jun '25	$4.2B	$579M	0.0%	20.7%	7.4%	1.1%	$732M	$15.5B	$1.0B
Mar '25	$4.7B	$965M	0.0%	30.9%	13.8%	1.9%	$84M	$16.3B	$964M
Dec '24	$4.1B	$716M	0.0%	26.3%	11.7%	1.5%	$1.1B	$17.0B	$1.1B
Sep '24	$3.7B	$343M	0.0%	16.7%	5.5%	0.7%	$951M	$17.1B	$1.1B
Jun '24	$3.8B	$524M	0.0%	17.4%	8.9%	1.0%	$460M	$17.6B	$974M
Mar '24	$4.1B	$1.1B	0.0%	36.0%	-805.3%	2.6%	$261M	$15.9B	$995M
Dec '23	$3.4B	$498M	0.0%	23.1%	-60.3%	1.5%	$1.2B	$11.2B	$778M
Sep '23	$3.0B	$456M	0.0%	23.4%	-77.8%	1.4%	$985M	$10.0B	$808M
Jun '23	$3.2B	$560M	0.0%	26.5%	861.5%	1.6%	$619M	$10.0B	$952M
Mar '23	$3.9B	$1.1B	0.0%	38.1%	-1500.0%	3.1%	$367M	$10.6B	$1.1B
Dec '22	$3.1B	$657M	0.0%	32.3%	-124.2%	2.0%	$972M	$10.8B	$690M
Sep '22	$2.7B	$408M	0.0%	21.9%	-52.1%	1.3%	$988M	$10.1B	$692M
Jun '22	$3.0B	$501M	0.0%	23.5%	73.2%	1.4%	$623M	$9.7B	$740M
Mar '22	$3.7B	$1.0B	0.0%	37.2%	86.9%	3.1%	$440M	$9.7B	$595M
Dec '21	$3.1B	$863M	0.0%	31.6%	81.3%	2.7%	$896M	$9.4B	$544M

Valuation over time

How the market has priced AON against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 25.5× (Mar '23) to 19.1× (Nov '26).
The price-to-sales ratio has fallen from 5.3× (Mar '23) to 4.1× (Nov '26).
The dividend yield has risen from 0.7% (Mar '23) to 0.9% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is AON growing its revenue and profit?

Over the past 5 years, Aon plc's revenue has grown 9.2% per year, and net income grown 13.4% per year. These are computed facts, not advice.

How much debt does AON have?

As of FY2025, Aon plc reported $15.2B of total debt against $1.2B of cash; operating income covered interest expense 5.3×.

What is AON's profit margin?

In FY2025, gross margin was —, operating margin 25.3%, and net margin 21.5%.

What is AON's P/E ratio?

Aon plc's P/E (TTM) is 17.99 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AON stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 19.1× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.