Aon plc (AON) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: Aon plc

Market cap $68B · 52 weeks $269 – $381 (16 % below the high) · P/E 17.6× · 2027 est. P/E 15.9× · Dividend 0.97 % · ≥ 11 years rising · Next earnings January 29, 2027 · expected EPS $4.90 · Closing price, Oct 30 · accounts published Oct 28.

• Valuation: P/B 6.8× (expensive).
• Business: 5-year op. margin 24.9 % (excellent).
• Balance sheet: Debt/Equity 2.85 (fragile).
• Earnings: 7 of 8 (on track).

What would it be worth at its usual multiples?

At Kaplio's cap P/B for its ROE 40.4 % (2.0×) $95 (-70 %); at its peers' median (3.9×) $185 (-42 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in insurance: 3 of 5 pass

• Debt / Equity 2.85, fails.
• P/B (Price / Book) 6.8×, fails.
• Op Margin 5y (Combined Ratio proxy) 24.9 %, passes.
• Book Value / Share growth 23.5 %, passes.
• Dividend growth streak 11 years, passes, near the threshold.

Against its peers (reference peers) — Aon plc: P/E 17.6×; P/B 6.8×; ROE 40.4 %; $68.2B. Arthur J. Gallagher & Co. (P/E 42.2×; P/B 3.0×; ROE 7.2 %; $70.8B), Marsh & McLennan Companies, Inc. (P/E 24.0×; P/B 6.5×; ROE 27.1 %; $95.7B), Willis Towers Watson Public Limited Company (P/E 19.8×; P/B 3.9×; ROE 19.9 %; $29.9B).

Expensive or cheap against its last ten fiscal years?

P/B at each close: today 6.8× · median 12.7× · minimum 4.9× · maximum 79.4× · cheap below 9.6× · expensive above 58.5×. It has been cheaper than today only 14% of the time over its last ten fiscal years.

Dividend

solid · Yield 0.97 % ($2.92 per ADS in 2025) · Years raising it ≥ 11 · 5-year growth +10 % a year · Free cash flow coverage payout 17 % · With $1,000 invested today you'd collect $9.70 a year ($0.81 a month).