A

Aon plc

AON · CIK 0000315293Insurance lens →

19 fiscal years · 70 SEC filings · every number carries its receipt

Revenue (FY)
$17.18B9.4%
FY2025
Net income (FY)
$3.69B39.2%
FY2025
Free cash flow (FY)
$3.22B14.2%
FY2025
Diluted EPS (FY)
$17.0236.3%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10B$15BFY2007 · Revenue $7.23B · Net income $864.0M · 0001047469-10-001535 · filed 2010-02-26FY07Revenue $7.23BNet income $864.0M0001047469-10-001535 · filed 2010-02-26FY2008 · Revenue $7.53B · Net income $1.46B · 0001047469-11-001427 · filed 2011-02-25FY08Revenue $7.53BNet income $1.46B0001047469-11-001427 · filed 2011-02-25FY2009 · Revenue $7.59B · Net income $747.0M · 0001047469-12-001478 · filed 2012-02-24 · 0001047469-11-001427 · filed 2011-02-25FY09Revenue $7.59BNet income $747.0M0001047469-12-001478 · filed 2012-02-24 · 0001047469-11-001427 · filed 2011-02-25FY2010 · Revenue $8.51B · Net income $706.0M · 0001047469-13-001494 · filed 2013-02-22 · 0001047469-11-001427 · filed 2011-02-25FY10Revenue $8.51BNet income $706.0M0001047469-13-001494 · filed 2013-02-22 · 0001047469-11-001427 · filed 2011-02-25FY2011 · Revenue $11.29B · 0001445305-14-000476 · filed 2014-02-18FY11Revenue $11.29B0001445305-14-000476 · filed 2014-02-18FY2012 · Revenue $11.51B · 0001628280-15-000950 · filed 2015-02-24FY12Revenue $11.51B0001628280-15-000950 · filed 2015-02-24FY2013 · Revenue $11.81B · 0001628280-16-011485 · filed 2016-02-22FY13Revenue $11.81B0001628280-16-011485 · filed 2016-02-22FY2014 · Revenue $12.04B · 0001628280-17-001652 · filed 2017-02-23FY14Revenue $12.04B0001628280-17-001652 · filed 2017-02-23FY2015 · Revenue $9.48B · 0001628280-18-001923 · filed 2018-02-20FY15Revenue $9.48B0001628280-18-001923 · filed 2018-02-20FY2016 · Revenue $9.41B · 0001628280-19-001558 · filed 2019-02-19FY16Revenue $9.41B0001628280-19-001558 · filed 2019-02-19FY2017 · Revenue $10.00B · 0001628280-20-001607 · filed 2020-02-14FY17Revenue $10.00B0001628280-20-001607 · filed 2020-02-14FY2018 · Revenue $10.77B · 0001628280-21-002574 · filed 2021-02-19FY18Revenue $10.77B0001628280-21-002574 · filed 2021-02-19FY2019 · Revenue $11.01B · Net income $1.53B · 0001628280-22-003180 · filed 2022-02-18FY19Revenue $11.01BNet income $1.53B0001628280-22-003180 · filed 2022-02-18FY2020 · Revenue $11.07B · Net income $1.97B · 0001628280-23-004087 · filed 2023-02-17FY20Revenue $11.07BNet income $1.97B0001628280-23-004087 · filed 2023-02-17FY2021 · Revenue $12.19B · Net income $1.25B · 0001628280-24-005392 · filed 2024-02-16FY21Revenue $12.19BNet income $1.25B0001628280-24-005392 · filed 2024-02-16FY2022 · Revenue $12.48B · Net income $2.59B · 0001628280-25-006093 · filed 2025-02-18FY22Revenue $12.48BNet income $2.59B0001628280-25-006093 · filed 2025-02-18FY2023 · Revenue $13.38B · Net income $2.56B · 0001628280-26-008116 · filed 2026-02-13FY23Revenue $13.38BNet income $2.56B0001628280-26-008116 · filed 2026-02-13FY2024 · Revenue $15.70B · Net income $2.65B · 0001628280-26-008116 · filed 2026-02-13FY24Revenue $15.70BNet income $2.65B0001628280-26-008116 · filed 2026-02-13FY2025 · Revenue $17.18B · Net income $3.69B · 0001628280-26-008116 · filed 2026-02-13FY25Revenue $17.18BNet income $3.69B0001628280-26-008116 · filed 2026-02-13FY25Revenue $17.18BNet income $3.69B0001628280-26-008116 · filed 2026-02-13FY07FY10FY13FY16FY19FY22FY25

revenue 2.4× since FY2007 · net margin 11.9% → 21.5%

MarginsNet marginFCF margin
0%10%20%FY2007 · Net margin 11.9% · FCF margin 15.1%FY07Net margin 11.9%FCF margin 15.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 19.4% · FCF margin 11.5%FY08Net margin 19.4%FCF margin 11.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 9.8% · FCF margin 4.7%FY09Net margin 9.8%FCF margin 4.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 8.3% · FCF margin 7.1%FY10Net margin 8.3%FCF margin 7.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · FCF margin 6.9%FY11FCF margin 6.9%derived: (ocf − capex) ÷ revenueFY2012 · FCF margin 10.0%FY12FCF margin 10.0%derived: (ocf − capex) ÷ revenueFY2013 · FCF margin 12.9%FY13FCF margin 12.9%derived: (ocf − capex) ÷ revenueFY2014 · FCF margin 12.9%FY14FCF margin 12.9%derived: (ocf − capex) ÷ revenueFY2015 · FCF margin 19.1%FY15FCF margin 19.1%derived: (ocf − capex) ÷ revenueFY2016 · FCF margin 23.1%FY16FCF margin 23.1%derived: (ocf − capex) ÷ revenueFY2017 · FCF margin 5.5%FY17FCF margin 5.5%derived: (ocf − capex) ÷ revenueFY2018 · FCF margin 13.4%FY18FCF margin 13.4%derived: (ocf − capex) ÷ revenueFY2019 · Net margin 13.9% · FCF margin 14.6%FY19Net margin 13.9%FCF margin 14.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 17.8% · FCF margin 23.9%FY20Net margin 17.8%FCF margin 23.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 10.3% · FCF margin 16.8%FY21Net margin 10.3%FCF margin 16.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 20.7% · FCF margin 24.2%FY22Net margin 20.7%FCF margin 24.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 19.2% · FCF margin 23.8%FY23Net margin 19.2%FCF margin 23.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 16.9% · FCF margin 17.9%FY24Net margin 16.9%FCF margin 17.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 21.5% · FCF margin 18.7%FY25Net margin 21.5%FCF margin 18.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 21.5%FCF margin 18.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 21.5% · free cash flow 18.7% of revenue

Cash engineOperating cash flowFree cash flow
$0$1B$2B$3BFY2007 · OCF $1.26B · FCF $1.09B · 0001047469-10-001535 · filed 2010-02-26FY07OCF $1.26BFCF $1.09B0001047469-10-001535 · filed 2010-02-26FY2008 · OCF $968.0M · FCF $865.0M · 0001047469-11-001427 · filed 2011-02-25FY08OCF $968.0MFCF $865.0M0001047469-11-001427 · filed 2011-02-25FY2009 · OCF $500.0M · FCF $360.0M · 0001047469-12-001478 · filed 2012-02-24FY09OCF $500.0MFCF $360.0M0001047469-12-001478 · filed 2012-02-24FY2010 · OCF $783.0M · FCF $603.0M · 0001047469-13-001494 · filed 2013-02-22FY10OCF $783.0MFCF $603.0M0001047469-13-001494 · filed 2013-02-22FY2011 · OCF $1.02B · FCF $777.0M · 0001445305-14-000476 · filed 2014-02-18FY11OCF $1.02BFCF $777.0M0001445305-14-000476 · filed 2014-02-18FY2012 · OCF $1.42B · FCF $1.15B · 0001628280-15-000950 · filed 2015-02-24FY12OCF $1.42BFCF $1.15B0001628280-15-000950 · filed 2015-02-24FY2013 · OCF $1.75B · FCF $1.52B · 0001628280-16-011485 · filed 2016-02-22FY13OCF $1.75BFCF $1.52B0001628280-16-011485 · filed 2016-02-22FY2014 · OCF $1.81B · FCF $1.56B · 0001628280-17-001652 · filed 2017-02-23FY14OCF $1.81BFCF $1.56B0001628280-17-001652 · filed 2017-02-23FY2015 · OCF $2.01B · FCF $1.81B · 0001628280-18-001923 · filed 2018-02-20FY15OCF $2.01BFCF $1.81B0001628280-18-001923 · filed 2018-02-20FY2016 · OCF $2.33B · FCF $2.17B · 0001628280-19-001558 · filed 2019-02-19FY16OCF $2.33BFCF $2.17B0001628280-19-001558 · filed 2019-02-19FY2017 · OCF $734.0M · FCF $551.0M · 0001628280-20-001607 · filed 2020-02-14FY17OCF $734.0MFCF $551.0M0001628280-20-001607 · filed 2020-02-14FY2018 · OCF $1.69B · FCF $1.45B · 0001628280-21-002574 · filed 2021-02-19FY18OCF $1.69BFCF $1.45B0001628280-21-002574 · filed 2021-02-19FY2019 · OCF $1.83B · FCF $1.61B · 0001628280-22-003180 · filed 2022-02-18FY19OCF $1.83BFCF $1.61B0001628280-22-003180 · filed 2022-02-18FY2020 · OCF $2.78B · FCF $2.64B · 0001628280-23-004087 · filed 2023-02-17FY20OCF $2.78BFCF $2.64B0001628280-23-004087 · filed 2023-02-17FY2021 · OCF $2.18B · FCF $2.04B · 0001628280-24-005392 · filed 2024-02-16FY21OCF $2.18BFCF $2.04B0001628280-24-005392 · filed 2024-02-16FY2022 · OCF $3.22B · FCF $3.02B · 0001628280-25-006093 · filed 2025-02-18FY22OCF $3.22BFCF $3.02B0001628280-25-006093 · filed 2025-02-18FY2023 · OCF $3.44B · FCF $3.18B · 0001628280-26-008116 · filed 2026-02-13FY23OCF $3.44BFCF $3.18B0001628280-26-008116 · filed 2026-02-13FY2024 · OCF $3.04B · FCF $2.82B · 0001628280-26-008116 · filed 2026-02-13FY24OCF $3.04BFCF $2.82B0001628280-26-008116 · filed 2026-02-13FY2025 · OCF $3.48B · FCF $3.22B · 0001628280-26-008116 · filed 2026-02-13FY25OCF $3.48BFCF $3.22B0001628280-26-008116 · filed 2026-02-13FY25OCF $3.48BFCF $3.22B0001628280-26-008116 · filed 2026-02-13’09’13’17’21’25

FY2025: $3.48B operating cash − $263.0M capex = $3.22B free cash flow

Returns on capitalReturn on equityReturn on assets
-400%-200%0%FY2008 · ROE 27.5% · ROA 6.4%FY08ROE 27.5%ROA 6.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 13.9% · ROA 3.3%FY09ROE 13.9%ROA 3.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 8.6% · ROA 2.4%FY10ROE 8.6%ROA 2.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 45.4% · ROA 5.2%FY19ROE 45.4%ROA 5.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 56.3% · ROA 6.1%FY20ROE 56.3%ROA 6.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 118.3% · ROA 3.9%FY21ROE 118.3%ROA 3.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE -489.4% · ROA 7.9%FY22ROE -489.4%ROA 7.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE -310.4% · ROA 7.6%FY23ROE -310.4%ROA 7.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 43.4% · ROA 5.4%FY24ROE 43.4%ROA 5.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 39.5% · ROA 7.3%FY25ROE 39.5%ROA 7.3%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 39.5%ROA 7.3%derived: net income ÷ equity · derived: net income ÷ assets’09’19’21’23’25

return on equity 28% (FY2008) → 40% (FY2025) · on assets 7.3%

Balance sheetLiabilitiesEquity
$0$20B$40BFY2008 · Liabilities $17.52B · Equity $5.31BFY08Liabilities $17.52BEquity $5.31B0001047469-10-001535 · filed 2010-02-26FY2009 · Liabilities $17.53B · Equity $5.38BFY09Liabilities $17.53BEquity $5.38B0001047469-11-001427 · filed 2011-02-25FY2010 · Liabilities $20.68B · Equity $8.25BFY10Liabilities $20.68BEquity $8.25B0001047469-12-001478 · filed 2012-02-24FY2011 · Liabilities $21.43B · Equity $8.08BFY11Liabilities $21.43BEquity $8.08B0001047469-13-001494 · filed 2013-02-22FY2012 · Liabilities $22.68B · Equity $7.76BFY12Liabilities $22.68BEquity $7.76B0001445305-14-000476 · filed 2014-02-18FY2013 · Liabilities $22.06B · Equity $8.14BFY13Liabilities $22.06BEquity $8.14B0001628280-15-000950 · filed 2015-02-24FY2014 · Liabilities $23.14B · Equity $6.57BFY14Liabilities $23.14BEquity $6.57B0001628280-16-011485 · filed 2016-02-22FY2015 · Liabilities $20.82B · Equity $6.00BFY15Liabilities $20.82BEquity $6.00B0001628280-17-001652 · filed 2017-02-23FY2016 · Liabilities $21.08B · Equity $5.47BFY16Liabilities $21.08BEquity $5.47B0001628280-18-001923 · filed 2018-02-20FY2017 · Liabilities $21.44B · Equity $5.16BFY17Liabilities $21.44BEquity $5.16B0001628280-19-001558 · filed 2019-02-19FY2018 · Liabilities $22.20B · Equity $4.15BFY18Liabilities $22.20BEquity $4.15B0001628280-20-001607 · filed 2020-02-14FY2019 · Liabilities $25.96B · Equity $3.38BFY19Liabilities $25.96BEquity $3.38B0001628280-21-002574 · filed 2021-02-19FY2020 · Liabilities $28.53B · Equity $3.50BFY20Liabilities $28.53BEquity $3.50B0001628280-22-003180 · filed 2022-02-18FY2021 · Liabilities $30.76B · Equity $1.06BFY21Liabilities $30.76BEquity $1.06B0001628280-23-004087 · filed 2023-02-17FY2022 · Liabilities $33.13B · Equity −$529.0MFY22Liabilities $33.13BEquity −$529.0M0001628280-24-005392 · filed 2024-02-16FY2023 · Liabilities $34.70B · Equity −$826.0MFY23Liabilities $34.70BEquity −$826.0M0001628280-25-006093 · filed 2025-02-18FY2024 · Liabilities $42.53B · Equity $6.12BFY24Liabilities $42.53BEquity $6.12B0001628280-26-008116 · filed 2026-02-13FY2025 · Liabilities $41.24B · Equity $9.35BFY25Liabilities $41.24BEquity $9.35B0001628280-26-008116 · filed 2026-02-13FY25Liabilities $41.24BEquity $9.35B0001628280-26-008116 · filed 2026-02-13’09’13’17’21’25

FY2025: $50.78B assets · $41.24B liabilities · $9.35B equity

The receipts

Insurance lens

Specialized rows for insurer companies — not in the generic statement table above.

USD millions (ratios as %)

Premiums earned and policyholder benefits & claims are as-reported XBRL components — absent (not zero) for insurance brokers such as Aon and Marsh McLennan, which earn fees and commissions rather than underwriting premiums, so these rows are correctly blank for them. The loss ratio (policyholder benefits ÷ premiums earned) is computed by stonks for full fiscal years only.