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AON · NYSE · Insurance - Brokers

Aon (AON)

Brokers commercial insurance and reinsurance while advising employers on health, talent and retirement.

$285.96
vs last close−4.86 (−1.67%)
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Aon plcAON
Financial sector

Arranges commercial insurance and reinsurance while advising employers on benefits, talent, retirement and investments. Risk Capital generates most revenue; commissions, insurer compensation and client fees support a globally regulated brokerage-and-consulting model.

Combines insurance and reinsurance brokerage with workforce consulting through Risk Capital and Human Capital. Risk Capital—the larger segment—houses Commercial Risk Solutions and Reinsurance Solutions, spanning insurance and specialty brokerage, risk consulting, captive management, treaty and facultative reinsurance, analytics and capital-markets advice. Human Capital brings together Health Solutions and Wealth Solutions, covering employee benefits, talent and compensation, retirement, pension administration and investment consulting.

Serves clients worldwide, using data, analytics and global broking centers to design insurance programs and advise on risk retention, risk transfer and capital. Revenue comes mainly from brokerage commissions, compensation paid by insurers and reinsurers for services, and customer fees. Operations depend on licenses and rules governing insurance broking, reinsurance, pensions, securities, investment advice and fiduciary client funds across many jurisdictions.

Company facts

CEOGregory C. Case
ListedJun 2, 1980
ExchangeNYSE
HeadquartersDublin, Ireland
CountryIreland
Employees60,000
CIK0000315293
ISINIE00BLP1HW54

Market cap$61.69B
EPS (ttm)$18.15
P/E (ttm)16.02
ROE42.6%
P/B6.38
P/S3.51
Dividend yieldDiv yield1.08%
Beta−0.24vs XLF 1.18

Price target$382.50+31.5%Average of 38 analysts
ConsensusHold19 of 38 analysts
Ratings

Target rangeAs of Sep 21, 2026

Latest analyst notes

DateFirmActionPriorCurrent
Sep 16, 2026Mizuho SecuritiesTarget
Target: $426
Target: $366
Sep 2, 2026Evercore ISIReiterate
Rating: —Target: $436
Rating: OutperformTarget: $423
Sep 1, 2026BMO CapitalReiterate
Rating: —Target: $380
Rating: Market PerformTarget: $360
Sep 1, 2026Roth CapitalTarget
Target: $420
Target: $380
Sep 1, 2026Cantor FitzgeraldReiterate
Rating: —Target: $445
Rating: OverweightTarget: $433

Next report
Oct 30, 26
in 38 days
EPS estimate
$3.38
Revenue estimate
$4.09B
Fiscal quarter
Q3 FY26

EPSReportedEstimate

Jan '25Apr '25Jul '25Oct '25Jan '26May '26Jul '26Oct '26
Reported$4.42$5.67$3.49$3.05$4.85$6.48$3.81Pending
Estimate$4.25$6.01$3.40$2.91$4.75$6.37$3.80$3.38
Surprise+4.0%−5.7%+2.6%+4.8%+2.1%+1.7%+0.3%—

RevenueReportedEstimate

Jan '25Apr '25Jul '25Oct '25Jan '26May '26Jul '26Oct '26
Reported$4.15B$4.73B$4.16B$4.00B$4.30B$5.03B$4.25BPending
Estimate$4.20B$4.87B$4.17B$3.96B$4.38B$4.97B$4.28B$4.09B
Surprise−1.3%−2.9%−0.3%+1.0%−1.8%+1.2%−0.7%—
Estimate$3.38
ReportedDue Oct 30, 2026
Estimate$4.09B
ReportedDue Oct 30, 2026
View details

Debt to equity164.30%
Current ratio103.30%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$3.72B$4.15B$4.73B$4.16B$4.00B$4.30B$5.03B$4.25B
Net income$343.0M$716.0M$965.0M$579.0M$458.0M$1.69B$1.21B$551.0M
Net margin9.2%17.3%20.4%13.9%11.5%39.4%24.1%13.0%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income$623.0M$1.09B$1.46B$859.0M$816.0M$1.34B$1.81B$823.0M
YoY growth−9.8%+40.1%−0.3%+30.9%+31.0%+22.5%+23.7%−4.2%

Balance sheet, Jun 30, 2026Cash & short-term investments $1.27B · Total debt $15.87B · Total assets $53.35B · Shareholders' equity $9.66B

Revenue
$4.25B
Operating income
$823.0M
Net income
$551.0M
View details

Dividend yield
1.08%
Next ex-date
Nov 3, 26
estimated · in 42 days
Annual dividend
$3.13
per share
Schedule
Quarterly
4 payments a year

HistoryDividendAnnual yield

Nov '24Feb '25May '25Aug '25Nov '25Feb '26May '26Aug '26
Dividend$0.675$0.675$0.745$0.745$0.745$0.745$0.82$0.82
Annual yield0.72%0.72%0.79%0.80%0.86%0.85%0.98%0.88%
Ex-dateNov 1Feb 3May 1Aug 1Nov 3Feb 2May 1Aug 3
Payment dateNov 15Feb 14May 15Aug 15Nov 14Feb 13May 15Aug 14
View details

Institutions91.49%194.07M shares
1,288 holders · as of Jun 30, 2026
Insiders0.81%1.71M shares
23 holders · as of Sep 3, 2026
Other7.70%16.34M shares
remainder

212.13M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesDate
BlackRock, Inc.Institution
7.41%15.72Mas of Jun 30, 2026
Vanguard Capital Management LLCInstitution
6.41%13.60Mas of Jun 30, 2026
JPMorgan Chase & CoInstitution
5.74%12.18Mas of Jun 30, 2026
Capital World InvestorsInstitution
5.52%11.71Mas of Jun 30, 2026
State Street CorpInstitution
4.44%9.42Mas of Jun 30, 2026

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Sep 2, 2026Lester B. Knightdirector+20,000$327.48
Jul 28, 2026Darren Zeidelofficer: General Counsel−1,900$377.76
Jul 17, 2026Darren Zeidelofficer: General Counsel−1,950$372.05
Jul 7, 2026Darren Zeidelofficer: General Counsel−600$360.00
Feb 26, 2026Darren Zeidelofficer: General Counsel−4,300$329.72
View details

  • Willis Towers Watson

    #3 global broker; former merger target, competing across risk and HR advisory.

  • Arthur J. Gallagher

    Fast-growing large broker; reinsurance rival via Gallagher Re and mid-market.

  • Brown & Brown

    Leading US mid-market P&C and benefits broker; rival to NFP/Aon in retail.

  • Ryan Specialty

    Founder's post-Aon venture; leading E&S/wholesale broker in specialty lines.

Compare

CompanyPriceChange
Aon$285.96−1.67%$61.69B16.014.63.5+2.2%
Willis Towers Watson$300.36−2.10%$28.49B18.914.32.8+9.1%
Arthur J. Gallagher$230.49−2.59%$60.79B39.216.43.9+22.8%
Brown & Brown$62.35−3.03%$21.52B19.013.53.1+34.2%
Ryan Specialty$38.36−4.24%$5.19B51.516.81.6+7.2%
Median29.115.43.0+15.9%