| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 50 | 16.6x | 17.8x | Around median | |
Growth | 57 | 4.9% | 7.1% | Around median | |
Quality | 99 | — | — | Top tier | |
Safety | 24 | — | — | Bottom tier | |
Capital Return | 65 | 1.01% | 2.12% | Around median | |
Momentum | 41 | -3.5% | 2.9% | Around median | |
Sentiment | 85 | 15 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Aon plc provides risk management and human capital solutions to businesses, combining Commercial Risk, Reinsurance, Health, and Wealth services under the Aon United model, supported by the Aon Business Services platform. The company generates revenue from consulting, brokerage, insurance and reinsurance program design, health and benefits analytics, valuation work and pension risk transfer, as well as alternative capital solutions. In the second quarter of fiscal 2026, all four solution lines delivered organic growth of 5% each, reflecting operational diversification without quarterly growth depending on a single line.
Revenue for the second quarter of fiscal 2026 was approximately $4.2 billion, up 2% year over year, while net income was $551 million and earnings per share according to EDGAR filings were $2.58. On an adjusted basis, operating income rose 5% to $1.2 billion, operating margin expanded by 70 basis points to 28.9%, and adjusted earnings per share grew 9% to $3.81. The company generated free cash flow of $483 million despite a $267 million tax impact related to proceeds from the sale of NFP's Wealth business.
In fiscal 2025, Aon reported revenue of $17.2 billion, net income of $3.7 billion, and earnings per share of $17.02, compared with trailing-twelve-month revenue through 2026 of $17.6 billion, net income of $3.9 billion, and earnings per share of approximately $18.30. Current growth is driven by new business, high client retention, and investment in talent and technology, while the agreed acquisition of USI for approximately $17 billion has become the largest factor in reassessing the stock's risks and potential returns.
The average analyst price target is $390, within a wide range of $349 to $433, while the consensus rates the stock Neutral. The average is slightly above the 52-week range high of $382.34, compared with a low of $304.59. Wells Fargo's $383 target reflects a more conservative stance than the consensus average, while the information does not include a valid price-to-earnings multiple that can be used to judge whether the stock is inexpensive or expensive. Valuation remains tied to balancing organic business growth and margin expansion on one side against the debt financing of the USI transaction and its dilutive impact on adjusted earnings in 2027 on the other.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
The biggest driver is the August 31, 2026 agreement to acquire USI for approximately $17 billion and add a platform that generates nearly $3 billion in revenue in the U.S. middle market. Aon is targeting $395 million in annual cost and revenue synergies. However, the transaction will be dilutive to adjusted earnings per share in 2027 before becoming accretive in 2028. Investors are therefore focusing on debt financing and the speed of integration as much as on revenue expansion.
Revenue was $4.2 billion, up 2% year over year, while net income according to EDGAR was approximately $551 million and earnings per share were $2.58. The company delivered organic growth of 5% in each of its four solution lines. Adjusted operating income rose 5% to $1.2 billion, and adjusted margin expanded by 70 basis points to 28.9%. Adjusted earnings per share also reached $3.81, up 9%, while free cash flow reached $483 million.
Results for the second quarter of fiscal 2026 showed organic growth of 5% despite reinsurance rates declining between 15% and 20% and property rates falling. New business contributed ten points to organic growth, while net new business contributed five points and client retention was in the mid-90% range. The addition of new clients also offset part of the pricing pressure in reinsurance. Management reaffirmed its target of mid-single-digit or higher organic growth for fiscal 2026, with an expected net market impact of between zero and two points.
Automated analysis for informational purposes only — not investment advice.
Aon increased the capacity of its data center lifecycle insurance program to $5 billion, with participation from more than 30 insurers. Management explained that some facilities may cost between $15 billion and $20 billion, while other projects may reach $40 billion or $50 billion, compared with approximately $1.3 billion of available capacity for a single facility. The data center opportunity pipeline exceeded three times its level a year earlier, and the construction business recorded its fifth consecutive quarter of double-digit growth. The company uses its Commercial Risk and Reinsurance expertise to attract traditional and alternative capital to these projects.
Aon expanded the Claims Copilot platform during the second quarter of fiscal 2026 into North America, Asia Pacific, Europe, the Middle East, and Africa. The platform combines a substantial amount of global claims management information to improve coverage negotiations and risk strategies, drawing on experience that helped clients recover more than $10 billion over a decade. The company also uses the Radford McLagan database and a tool for measuring the sensitivity of jobs to artificial intelligence within Talent Solutions. Aon also offers Aon Activate as a data- and artificial-intelligence-powered platform connecting benefits, well-being, pensions, and rewards.
On July 29, 2026, management reaffirmed its target of mid-single-digit or higher organic revenue growth. It expects adjusted margin expansion of between 70 and 80 basis points, with strong adjusted earnings-per-share growth and double-digit free-cash-flow growth. The company is targeting restructuring savings of $100 million in 2026 as part of a total target of $450 million by 2027. It is also targeting an increase in revenue-generating headcount of between 4% and 8%, compared with growth of 3% during the first half of fiscal 2026.
