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 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
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
FCF
Total debt
Cash
2025
$17.2B
$3.7B
0.0%
25.3%
$3.2B
$15.2B
$1.2B
2024
$15.7B
$2.7B
0.0%
24.4%
$2.8B
$17.0B
$1.1B
2023
$13.4B
$2.6B
0.0%
28.3%
$3.2B
$11.2B
$778M
2022
$12.5B
$2.6B
0.0%
29.4%
$3.0B
$10.8B
$690M
2021
$12.2B
$1.3B
0.0%
17.1%
$2.0B
$9.4B
$544M
2020
$11.1B
$2.0B
0.0%
25.1%
$2.6B
$7.7B
$884M
2019
$11.0B
$1.5B
0.0%
19.7%
$1.6B
$7.3B
$790M
2018
$10.8B
—
0.0%
14.3%
$1.4B
$6.2B
$656M
2017
$10.0B
—
0.0%
10.7%
$551M
$6.0B
$756M
2016
$9.4B
—
0.0%
19.2%
$2.2B
$6.2B
$426M
2010
—
$706M
—
—
$603M
$4.5B
$346M
2009
—
$747M
—
—
$360M
$2.0B
$217M
2008
—
$1.5B
—
—
$865M
$1.9B
$582M
2007
—
$864M
—
—
$1.1B
—
$584M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$5.0B
$1.2B
0.0%
34.1%
$363M
$13.5B
$1.2B
Dec '25
$4.3B
$1.7B
0.0%
28.1%
$1.3B
$15.2B
$1.2B
Sep '25
$4.0B
$458M
0.0%
20.4%
$1.1B
$15.1B
$1.1B
Jun '25
$4.2B
$579M
0.0%
20.7%
$732M
$15.5B
$1.0B
Mar '25
$4.7B
$965M
0.0%
30.9%
$84M
$16.3B
$964M
Dec '24
$4.1B
$716M
0.0%
26.3%
$1.1B
$17.0B
$1.1B
Sep '24
$3.7B
$343M
0.0%
16.7%
$951M
$17.1B
$1.1B
Jun '24
$3.8B
$524M
0.0%
17.4%
$460M
$17.6B
$974M
Mar '24
$4.1B
$1.1B
0.0%
36.0%
$261M
$15.9B
$995M
Dec '23
$3.4B
$498M
0.0%
23.1%
$1.2B
$11.2B
$778M
Sep '23
$3.0B
$456M
0.0%
23.4%
$985M
$10.0B
$808M
Jun '23
$3.2B
$560M
0.0%
26.5%
$619M
$10.0B
$952M
Mar '23
$3.9B
$1.1B
0.0%
38.1%
$367M
$10.6B
$1.1B
Dec '22
$3.1B
$657M
0.0%
32.3%
$972M
$10.8B
$690M
Sep '22
$2.7B
$408M
0.0%
21.9%
$988M
$10.1B
$692M
Jun '22
$3.0B
$501M
0.0%
23.5%
$623M
$9.7B
$740M
Mar '22
$3.7B
$1.0B
0.0%
37.2%
$440M
$9.7B
$595M
Dec '21
$3.1B
$863M
0.0%
31.6%
$896M
$9.4B
$544M
Sep '21
$2.7B
-$900M
0.0%
-29.6%
-$126M
$8.3B
$609M
Jun '21
$2.9B
$379M
0.0%
23.3%
$743M
$7.3B
$1.1B
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 25.7× (Mar '23) to 18.3× (Jun '26).
The price-to-sales ratio has fallen from 5.3× (Mar '23) to 3.9× (Jun '26).
The dividend yield has risen from 0.7% (Mar '23) to 0.9% (Jun '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?
As of Jun '26, Aon plc traded at a price-to-earnings ratio of about 18.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.