Aon plc (AON) Stock Price & Analysis
Aon plc (AON) closed at USD 306.8 on Thursday, October 22, 2026, up 4.23% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 294.35; the Oct 22, 2026 session ranged USD 296.01–306.95 on volume of 1,636,445 shares. Market capitalization is $65.08B, with a 52-week range of USD 266.33–382.34 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 11:22 UTC.
Also available as compact Markdown for AI agents: nexqual.com/AON.md
Key facts (AON)
- Last four reported quarters (through Jun 30, 2026): revenue $17.6B, net income $3.91B (22.3% margin), free cash flow $3.25B (SEC filings).
- Valuation: P/E 16.6x (avg 24.3x at the last 3 fiscal year-ends), EV/EBITDA 16.3x, net debt $13.7B.
- 7 of 80 tracked superinvestors hold AON (13F, Q2 2026): 0 new, 2 added, 3 reduced, 2 unchanged.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $1.7M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $6.5M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.43 on a 1–5 scale) (21 analysts), mean target USD 354.21 (range 229–435).
- Total return with dividends: 1Y -9.7% vs S&P 500 +14.9%; 5Y -0.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 3.3, revenue estimate $4.08B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (AON)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $12.2B | $12.5B | $13.4B | $15.7B | $17.2B | $17.6B |
| Operating income | $2.09B | $3.67B | $3.79B | $3.83B | $4.34B | $4.65B |
| Net income | $1.25B | $2.59B | $2.56B | $2.65B | $3.69B | $3.91B |
| EPS (diluted) | $5.55 | $12.14 | $12.51 | $12.49 | $17.02 | — |
| Free cash flow | $2.04B | $3.02B | $3.18B | $2.82B | $3.22B | $3.25B |
| Operating margin | 17.1% | 29.4% | 28.3% | 24.4% | 25.3% | 26.5% |
| Net margin | 10.3% | 20.7% | 19.2% | 16.9% | 21.5% | 22.3% |
| Revenue growth | +10.2% | +2.3% | +7.2% | +17.4% | +9.4% | — |
| Cash + short-term investments | $836M | $1.14B | $1.15B | $1.30B | $2.80B | — |
| Total debt | $9.39B | $10.8B | $11.2B | $17.0B | $15.2B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (AON)
P/E 16.6x · P/S 3.7x · EV/EBITDA 16.3x · EV/Sales 4.5x · P/FCF 20.0x · P/B 6.8x · FCF yield 4.99% · Earnings yield 6.01% · Dividend yield (paid, TTM) 1.01% · Net debt $13.7B · EV $78.8B
P/E at fiscal year-ends: Dec 2025 20.7x, Dec 2024 28.8x, Dec 2023 23.3x.
Superinvestors (SEC 13F-HR, Q2 2026) (AON)
7 of 80 tracked investors hold AON. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Seth Klarman | Baupost Group | 4.21% | $228M | Reduced -10.7% |
| First Pacific Advisors | 2.84% | $226M | Reduced -3.1% | |
| Dodge & Cox Funds | Dodge & Cox | 1.49% | $2.85B | Added +5.9% |
| Viking Global | Viking Global Investors | 1.09% | $382M | Added +5.9% |
| Polen Capital | Polen Capital Management | 0.47% | $54.4M | Reduced -87.9% |
| Thomas Gayner | Markel Group | 0.34% | $45.0M | Unchanged |
| Yacktman Asset Management | 0.05% | $4.3M | Unchanged |
Insider sales (SEC Form 4, open-market, last ~7 months) (AON)
3 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-28 | Zeidel Darren | General Counsel | 1,900 | $718K | 14.2% | Yes | Too little history (no open-market trades in 2023) |
| 2026-07-17 | Zeidel Darren | General Counsel | 1,950 | $726K | 12.7% | Yes | Too little history (no open-market trades in 2023) |
| 2026-07-07 | Zeidel Darren | General Counsel | 600 | $216K | 3.8% | Yes | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (AON)
1 purchase, $6.5M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-02 | Knight Lester B | Director | 20,000 | $6.5M | 327.48 | Too little history (no open-market trades in 2023 or 2025) |
Analysts (AON)
Consensus Buy (mean 2.43 on a 1–5 scale), 21 analysts; mean target USD 354.21 (low 229, high 435).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Wells Fargo | Target lowered | Overweight | $383 → $323 |
| 2026-10-12 | Keefe, Bruyette & Woods | Target lowered | Outperform | $417 → $342 |
| 2026-10-07 | Mizuho | Target lowered | Outperform | $366 → $324 |
| 2026-10-07 | Barclays | Target lowered | Equal-Weight | $382 → $317 |
| 2026-10-07 | Cantor Fitzgerald | Target lowered | Overweight | $433 → $400 |
| 2026-10-06 | Morgan Stanley | Target lowered | Overweight | $410 → $350 |
| 2026-10-01 | JP Morgan | Target lowered | Overweight | $412 → $362 |
| 2026-09-16 | Mizuho | Target lowered | Outperform | $398 → $366 |
| 2026-09-14 | TD Cowen | Target raised | Buy | $416 → $420 |
| 2026-09-02 | Evercore ISI Group | Target lowered | Outperform | $436 → $423 |
| 2026-09-01 | BMO Capital | Target lowered | Market Perform | $375 → $360 |
| 2026-09-01 | Keefe, Bruyette & Woods | Target raised | Outperform | $412 → $417 |
Total return (dividends reinvested) (AON)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -9.7% | -0.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -9.7% | -0.2% |
| Volatility (annualized) | 28.8% | 23.5% |
| Max drawdown | -29.2% (Jul 2026→Oct 2026) | -33.5% (Feb 2025→Sep 2026) |
AON revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Risk Capital | $3.01B | 70.8% | +4.9% |
| Human Capital | $1.24B | 29.3% | -3.6% |
| Total revenue | $4.25B | 100% | — |
AON revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Commercial Risk Solutions | $2.29B | 54.1% | +5.4% |
| Health Solutions | $818.0M | 19.3% | +6.0% |
| Reinsurance Solutions | $711.0M | 16.7% | +3.3% |
| Wealth Solutions | $426.0M | 10.0% | -17.9% |
| Total revenue | $4.25B | 100% | — |
AON revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| U.S. | $2.02B | 47.6% | -1.0% |
| Europe, Middle East, & Africa other than U.K. and Ireland | $718.0M | 16.9% | +13.2% |
| U.K. | $632.0M | 14.9% | +3.6% |
| Asia Pacific | $421.0M | 9.9% | -2.1% |
| Americas other than U.S. | $408.0M | 9.6% | +3.3% |
| Ireland | $47.0M | 1.1% | +2.2% |
| Total revenue | $4.25B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
AON company outlook (results filed Jul 29, 2026)
- “We remain confident in our strategy, our outlook, and our ability to deliver sustainable long-term value." Net income attributable to Aon shareholders in the second quarter decreased 3%, to $2.58 per share on a diluted basis, compared to $2.66 per share on a diluted basis, in the prior-year period.”
- “If currency were to remain stable at today's rates, the Company would expect a de minimis impact on adjusted EPS in the third quarter of 2026 and a favorable impact on adjusted EPS of approximately $0.42 per share for the full year 2026.”
- “Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts. 5 Safe Harbor Statement This communication contains certain statements related to future results, or states Aon's intentions, beliefs and expectations or predictions for the future, all of which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995.”
- “In addition, results for prior periods are not necessarily indicative of results that may be expected 6 for any future period.”
Quoted word-for-word from the SEC 8-K results press release.
AON analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $3.30 | $3.42 | -3.5% | $4.08B | 21 |
| Next quarter (ends Dec 2026) | $4.99 | $5.37 | -7.1% | $4.53B | 19 |
| Current fiscal year (ends Dec 2026) | $18.57 | $19.10 | -2.8% | $17.92B | 22 |
| Next fiscal year (ends Dec 2027) | $20.21 | $21.35 | -5.3% | $21.66B | 20 |
AON options: expected move
Options price a move of about ±7.5% (±$23.10) by Nov 20, 2026, which includes earnings on Oct 28, 2026. Over the last 8 reports the stock moved ±3.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 33.1% | ±7.5% |
| Dec 18, 2026 | 56 | 30.9% | ±9.8% |
| Jan 15, 2027 | 84 | 29.9% | ±11.6% |
| Apr 16, 2027 | 175 | 29.8% | ±16.5% |
30-day implied volatility 32.7% vs 29.6% realized over the last 30 trading days. Put/call ratio (volume) 0.21. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 11:22 UTC)
| Price | USD 306.8 |
|---|---|
| Change | ▲ 4.23% (up) |
| Previous Close | USD 294.35 |
| Open | USD 296.01 |
| Day Range | USD 296.01 – 306.95 |
| 52-Week Range | USD 266.33 – 382.34 |
| Volume | 1,636,445 shares |
| Market Cap | $65.08B |
| Exchange | NYQ |
Technical Analysis (AON)
Nexqual's technical model rates AON "NEUTRAL" based on 3 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 11:22 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 61.05 (neutral) |
| vs SMA50 | Below (USD 306.83) |
| MACD | -1.52 (negative) |
Analyst Ratings (AON)
Wall Street analysts rate AON "Buy" based on 21 analysts, with a mean price target of USD 354.21 (range USD 229–435), per Nexqual as of October 23, 2026 at 11:22 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 21 |
| Mean Target | USD 354.21 |
| High Target | USD 435 |
| Low Target | USD 229 |
| Buy / Hold / Sell | 13 / 5 / 3 |
Earnings (AON)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 3.3 |
| Revenue Estimate | $4.08B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 3.81 vs est 3.8 ▲ beat |
| 2026-03-31 | USD 6.48 vs est 6.35 ▲ beat |
| 2025-12-31 | USD 4.85 vs est 4.75 ▲ beat |
| 2025-09-30 | USD 3.05 vs est 2.91 ▲ beat |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Financials & Fundamentals (AON)
| Total Revenue | $17.58B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +2.20% |
| Gross Margin | +48.15% |
| Operating Margin | +23.46% |
| Profit Margin | +22.27% |
| ROE | +44.70% |
| Debt / Equity | 1.63 |
| Current Ratio | 1.03 |
| Total Cash | $1.10B |
| Total Debt | $15.87B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $3.25B (18.5% of revenue) |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Financial Health Score (AON)
Nexqual rates Aon plc's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 11:22 UTC.
| Growth | Solid — Revenue +9% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 48%, operating 23% (last 12 months) |
| Balance Sheet | Weak — $1.27B cash and investments vs $15.0B debt (Jun 2026, SEC) |
| Cash Flow | Strong — FCF $3.25B (last 4 quarters to Jun 2026, SEC), 18% margin |
| Efficiency | Strong — ROE 45%, ROA 5.8% |
Ownership (AON)
| Insider Ownership | +1.01% |
|---|---|
| Institutional Ownership | +92.85% |
| Shares Outstanding | 212.13M |
| Float | 209.31M |
| Short % of Float | +2.01% |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Leadership (AON)
Aon plc is led by Gregory Clarence Case, President, CEO & Executive Director, per Nexqual as of October 23, 2026 at 11:22 UTC.
| President, CEO & Executive Director | Gregory Clarence Case |
|---|---|
| Executive VP & Global Chief Operating Officer | Mindy F. Simon |
| Interim Chief Financial Officer | Nadin Virani |
Major Backers & Investors (AON)
Notable institutional backers of Aon plc include JPMorgan, Capital Group, Dodge & Cox Inc., according to Nexqual as of October 23, 2026 at 11:22 UTC.
Active Investors
| Investor | Stake |
|---|---|
| JPMorgan | 5.74% |
| Capital Group | 5.52% |
| Dodge & Cox Inc. | 4.05% |
| Massachusetts Financial Services Co. | 3.59% |
| Morgan Stanley | 2.93% |
| AMERICAN BALANCED FUND | 1.57% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 9.81% |
| BlackRock | 7.41% |
| State Street | 4.44% |
| Geode Capital | 2.44% |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
From Aon plc's Latest SEC 10-K Filing (filed 2026-02-13)
Key Strengths & Strategy (as disclosed to the SEC)
- Our listening strategy consists of frequent surveys across all stages of a colleague's career. as well as our annual all colleague support survey which enables us to understand how colleagues are engaging with their teams, the firm, and clients.
Partnerships
- We partner with insurers, reinsurers, investment firms, and corporations in executing innovative risk management products, capital market solutions, and corporate finance advisory services.
Legal & Regulatory Risks (Item 1A, quoted)
- We are subject to E&O claims against us as well as other contingencies and legal proceedings, some of which, if determined unfavorably to us, could have a material adverse effect on our financial condition or results of operations.
- Our businesses are subject to extensive governmental regulation, which could reduce our profitability, limit our growth, or subject us to legal and regulatory actions.
- Failure to protect our intellectual property rights, or allegations that we have infringed on the intellectual property rights of others, could harm our reputation, ability to compete effectively, and financial condition.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| AJG | Arthur J. Gallagher & Co. | USD 270.98 | ▲ 4.88% |
| MRSH | Marsh | USD 199.27 | ▲ 4.57% |
| WTW | Willis Towers Watson Public Lim | USD 332.18 | ▲ 4.58% |
| BRO | Brown & Brown, Inc. | USD 74.49 | ▲ 5.61% |
| ERIE | Erie Indemnity Company | USD 256.8 | ▲ 5.19% |
| RYAN | Ryan Specialty Holdings, Inc. | USD 44.49 | ▲ 5.28% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 11:22 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt