Aon revenue and financials
$273.99Change from previous close: +0.71%Absolute change: +$1.94
In the fiscal year ended December 2025, Aon reported revenue of $17.18B (+9.45% year over year). Net income was $3.7B, a net margin of 21.5%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +9.45%
- 2025 vs 2024
- Net income growth
- +39.22%
- 2025 vs 2024
- Net margin
- 21.5%
- 2024: 16.9%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 556 | 430 | 1,397 | 1,148 | 796 | 140 | 1,200 | 1,013 | 513 | 309 | 1,261 | 1,043 |
| Depreciation and amortization | 223 | 198 | 233 | 240 | 248 | 245 | 241 | 221 | 173 | 60.0 | 5.0 | 62.0 |
| Capital expenditure | -73.0 | -67.0 | -74.0 | -69.0 | -64.0 | -56.0 | -55.0 | -62.0 | -53.0 | -48.0 | -49.0 | -58.0 |
| Investing cash flow | -49.0 | 999 | 648 | -94.0 | 24.0 | -292 | -577 | 29.0 | 2,676 | -4,961 | -240 | -76.0 |
| Financing cash flow | -858 | -441 | -3,064 | -768 | -24.0 | -349 | -769 | -699 | -2,997 | 5,261 | -1,664 | -1,162 |
| Dividends paid | -175 | -162 | -161 | -160 | -161 | -147 | -146 | -147 | -146 | -123 | -123 | -125 |
| Share repurchases | -648 | -593 | -257 | -257 | -303 | -391 | -212 | -314 | -296 | -380 | -759 | -866 |
| Debt issued | 52.0 | 955 | -1,082 | 33.0 | 455 | 594 | -329 | 326 | 1,873 | 6,336 | -512 | -129 |
| Debt repaid | 0.0 | -593 | -1,540 | -400 | 55.0 | -355 | -50.0 | -550 | -4,328 | -591 | -103 | -57.0 |
| Effect of exchange rates | -50.0 | -97.0 | 72.0 | -90.0 | 500 | 196 | -564 | 379 | -56.0 | -146 | 321 | -260 |
| Net change in cash | -401 | 891 | -947 | 196 | 1,296 | -305 | -710 | 722 | 136 | 463 | -322 | -455 |
| Free cash flow | 483 | 363 | 1,323 | 1,079 | 732 | 84.0 | 1,145 | 951 | 460 | 261 | 1,212 | 985 |
| Levered free cash flow | 355 | 247 | 2,454 | -120 | 519 | -35.1 | 1,307 | 1,108 | 587 | 182 | 1,218 | 841 |