Aon (AON): analysis in plain words
Is Aon cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Aon (AON) is listed on the NYSE and we classify it in insurance. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Aon according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Aon (AON) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $344.67 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 18.9x | Price over earnings per share |
| Revenue growth | +2.6% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 22.2% | Profit for every 100 of sales |
| Net debt / EBITDA | Not meaningful (financial company) | Years of operating profit to repay debt |
| Dividend yield | 0.99% | Annual dividend over price |
| Market cap | $73.1 billion | What the stock market values it at |
The Aon figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any AON figure that is not available shows as N/A: we do not estimate it.
How Aon makes money
Aon is a broker, not an insurer: it earns commissions and fees for advising clients and placing their coverage. Its revenue lines include Commercial Risk Solutions, the largest, Reinsurance Solutions, Health Solutions for employee benefits, and Wealth Solutions for retirement plans, serving companies in the Americas, Europe and Asia.
Over the last 12 months, Aon brought in revenue of $17.7 billion. For every 100 it sells, Aon keeps 48.4 after the direct cost of what it sells (gross margin) and 22.2 after all operating costs (operating margin). With 60,000 full-time employees, that is about $295,000 of revenue per employee.
Aon against its sector
To know whether a Aon figure is high or low you have to put it next to similar companies. This table compares Aon with the median of the 11 insurance companies Fintols covers, with data as of November 4, 2026.
| Figure | Aon | insurance median |
|---|---|---|
| P/E | 18.9x | 13.1x (11) |
| Revenue growth | +2.6% | +3.0% (11) |
| Net margin | 22.2% | 11.2% (11) |
| Dividend yield | 0.99% | 2.35% (11) |
| ROE | 43.4% | 18.4% (11) |
In short, against the typical insurance company, Aon trades on a higher P/E, earns a wider margin and pays a lower dividend yield. By size, Aon ranks number 5 of 7 insurance companies quoted in USD on Fintols.
The bull case for Aon
What works in favour of Aon, according to its figures as of November 4, 2026:
- Aon keeps 22.2 of every 100 it sells as net profit, against 11.2 for the median insurance company: a margin like that leaves money to invest, buy back shares or pay dividends.
- Aon earns 43.4% a year on its shareholders' money (return on equity), a high figure for a financial company.
The main risk for Aon
The price already assumes a lot: Aon trades at 18.9x its last 12 months of earnings, against 13.1x for the insurance median. If growth disappoints, the multiple can shrink and the share price with it.
And, like the rest of insurance, Aon is exposed to natural catastrophes and claims above plan, plus swings in the markets where it invests premiums.
Frequently asked questions about Aon
Is it a good time to buy Aon stock?
Fintols does not tell you whether to buy or sell Aon, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Aon stock trades at $344.67, 10% below its 52-week high ($382.34) and 29% above its low ($266.33). Its P/E is 18.9x against a insurance median of 13.1x, and 17.1x on the earnings analysts expect over the next 12 months. With Aon, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Aon pay a dividend?
Yes. As of November 4, 2026, Aon pays $3.28 per share a year, which at today's price is a yield of 0.99%. It uses 17% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 0.77%. The insurance median on Fintols is 2.35%.
Is Aon stock expensive?
It depends on what you compare it with. On P/E, Aon trades at 18.9x its last 12 months of earnings: more expensive than the insurance median (13.1x). For a financial company you also look at price to book value: 7.2x (insurance median: 2.2x). A high P/E alone does not make Aon expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Aon's competitors?
On Fintols we compare Aon with MetLife, Travelers and Marsh McLennan, which are also in insurance. As of November 4, 2026, MetLife is worth $65.4 billion and trades on a P/E of 19.7; Travelers is worth $83.9 billion and trades on a P/E of 10.8. Each has a side-by-side comparison with Aon below.
Aon competitors
- MetLife (MET) analysis · Aon vs MetLife comparison
- Travelers (TRV) analysis · Aon vs Travelers comparison
- Marsh McLennan (MMC) analysis · Aon vs Marsh McLennan comparison
To understand Aon better
- How to Read a Balance Sheet: A Beginner's Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Aon: insurance stocks and S&P 500 companies. Open the full AON analysis with its valuation and scenarios. Educational content about Aon, not investment advice.