Financials Aon plc

Equities

AON

IE00BLP1HW54

Multiline Insurance & Brokers

Market Closed - Nyse 04:00:02 2024-05-17 pm EDT 5-day change 1st Jan Change
292.4 USD +0.15% Intraday chart for Aon plc -0.22% +0.49%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 48,768 47,782 66,223 62,085 58,267 63,588 - -
Enterprise Value (EV) 1 55,317 54,319 74,779 71,713 68,319 76,404 76,104 75,380
P/E ratio 32.7 x 25 x 54.2 x 24.7 x 23.3 x 22.5 x 18.8 x 15.1 x
Yield 0.83% 0.84% 0.66% 0.73% 0.83% 0.89% 0.96% 1.02%
Capitalization / Revenue 4.43 x 4.32 x 5.43 x 4.98 x 4.36 x 4.05 x 3.68 x 3.45 x
EV / Revenue 5.02 x 4.91 x 6.13 x 5.75 x 5.11 x 4.87 x 4.41 x 4.09 x
EV / EBITDA 17.3 x 16.3 x 19.4 x 18 x 15.7 x 15.3 x 13.4 x 12.1 x
EV / FCF 34.4 x 20.6 x 36.6 x 23.7 x 21.5 x 26.4 x 21.2 x 18.1 x
FCF Yield 2.91% 4.86% 2.73% 4.22% 4.66% 3.78% 4.73% 5.54%
Price to Book 14.3 x 13.6 x 60.8 x -117 x -70 x 88.8 x 50.2 x 27.4 x
Nbr of stocks (in thousands) 234,137 226,164 220,332 206,853 200,216 217,431 - -
Reference price 2 208.3 211.3 300.6 300.1 291.0 292.4 292.4 292.4
Announcement Date 1/31/20 2/5/21 2/4/22 2/3/23 2/2/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 11,013 11,066 12,193 12,479 13,376 15,704 17,272 18,425
EBITDA 1 3,197 3,329 3,852 3,991 4,342 5,007 5,683 6,215
EBIT 1 3,025 3,150 3,673 3,840 4,223 4,872 5,473 6,026
Operating Margin 27.47% 28.47% 30.12% 30.77% 31.57% 31.03% 31.69% 32.7%
Earnings before Tax (EBT) 1 1,871 2,465 1,931 3,156 3,169 3,665 4,223 4,796
Net income 1 1,532 1,969 1,255 2,589 2,564 2,834 3,402 4,033
Net margin 13.91% 17.79% 10.29% 20.75% 19.17% 18.05% 19.7% 21.89%
EPS 2 6.370 8.450 5.550 12.14 12.51 13.02 15.53 19.38
Free Cash Flow 1 1,610 2,642 2,045 3,023 3,183 2,890 3,597 4,175
FCF margin 14.62% 23.87% 16.77% 24.22% 23.8% 18.4% 20.83% 22.66%
FCF Conversion (EBITDA) 50.36% 79.36% 53.09% 75.75% 73.31% 57.72% 63.29% 67.17%
FCF Conversion (Net income) 105.09% 134.18% 162.95% 116.76% 124.14% 101.97% 105.74% 103.5%
Dividend per Share 2 1.720 1.780 1.990 2.190 2.410 2.592 2.809 2.980
Announcement Date 1/31/20 2/5/21 2/4/22 2/3/23 2/2/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 3,080 3,670 2,983 2,696 3,130 3,871 3,177 2,953 3,375 4,070 3,744 3,680 4,179 4,807 4,052
EBITDA 1 1,050 1,433 823 661 1,074 1,536 906 759 1,189 1,659 1,055 924.7 1,395 1,911 1,209
EBIT 1 1,009 1,395 783 624 1,038 1,498 867 717 1,141 1,615 1,023 883.8 1,376 1,872 1,122
Operating Margin 32.76% 38.01% 26.25% 23.15% 33.16% 38.7% 27.29% 24.28% 33.81% 39.68% 27.31% 24.02% 32.94% 38.95% 27.69%
Earnings before Tax (EBT) 1 1,036 1,304 633 510 709 1,342 658 560 609 1,424 682.9 534 998.4 1,598 868.1
Net income 1 863 1,023 501 408 657 1,050 560 456 498 1,071 526.4 431.7 822.3 1,230 642.5
Net margin 28.02% 27.87% 16.8% 15.13% 20.99% 27.12% 17.63% 15.44% 14.76% 26.31% 14.06% 11.73% 19.68% 25.59% 15.86%
EPS 2 3.900 4.730 2.330 1.920 3.140 5.070 2.710 2.230 2.470 5.350 2.271 1.899 3.696 5.555 2.974
Dividend per Share 2 0.5100 0.5100 0.5600 0.5600 - 0.5600 0.6150 0.6150 0.6150 0.6150 0.6688 0.6688 0.6688 0.7150 0.7150
Announcement Date 2/4/22 4/29/22 7/29/22 10/28/22 2/3/23 4/28/23 7/28/23 10/27/23 2/2/24 4/26/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 6,549 6,537 8,556 9,628 10,052 12,817 12,516 11,792
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.048 x 1.964 x 2.221 x 2.412 x 2.315 x 2.56 x 2.202 x 1.897 x
Free Cash Flow 1 1,610 2,642 2,045 3,023 3,183 2,890 3,597 4,175
ROE (net income / shareholders' equity) 72.5% 66.6% 119% 1,073% - 116% 222% 145%
ROA (Net income/ Total Assets) 6.7% - 3.92% 8.01% 8.7% - - -
Assets 1 22,856 - 32,015 32,310 29,467 - - -
Book Value Per Share 2 14.50 15.50 4.940 -2.580 -4.160 3.290 5.820 10.70
Cash Flow per Share 2 - - 9.650 15.10 16.80 16.00 17.60 -
Capex 1 225 141 137 196 252 216 250 261
Capex / Sales 2.04% 1.27% 1.12% 1.57% 1.88% 1.38% 1.45% 1.42%
Announcement Date 1/31/20 2/5/21 2/4/22 2/3/23 2/2/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
18
Last Close Price
292.4 USD
Average target price
324.7 USD
Spread / Average Target
+11.02%
Consensus
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