Financials Aon plc

Equities

AON

IE00BLP1HW54

Multiline Insurance & Brokers

Market Closed - Nyse Other stock markets 04:00:02 2025-03-14 pm EDT			5-day change	1st Jan Change
398.79 ^USD	+1.16%		-1.07%	+11.03%

Mar. 12	Aon plc Appoints Denise Perlman as New CEO to Lead Middle Market Practice in North America	CI
Mar. 11	Recession Talk Stifles Stocks

Projected Income Statement: Aon plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	11,066	12,193	12,479	13,376	15,698	17,335	18,428	19,406
Change	-	10.18%	2.35%	7.19%	17.36%	10.43%	6.31%	5.3%
EBITDA ¹	3,329	3,852	3,991	4,342	5,625	5,752	6,240	6,720
Change	-	15.71%	3.61%	8.79%	29.55%	2.26%	8.49%	7.69%
EBIT ¹	3,150	3,673	3,840	4,223	4,939	5,562	6,055	6,585
Change	-	16.6%	4.55%	9.97%	16.95%	12.62%	8.86%	8.76%
Interest Paid ¹	-334	-322	-406	-484	-788	-811.4	-795.1	-759.5
Earnings before Tax (EBT) ¹	2,465	1,931	3,156	3,169	3,462	3,909	4,497	4,923
Change	-	-21.66%	63.44%	0.41%	9.25%	12.91%	15.03%	9.47%
Net income ¹	1,969	1,255	2,589	2,564	2,654	2,936	3,473	3,997
Change	-	-36.26%	106.29%	-0.97%	3.51%	10.63%	18.29%	15.09%
Announcement Date	2/5/21	2/4/22	2/3/23	2/2/24	1/31/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	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	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	3,219	2,497	2,385	2,965	3,525	2,886	2,702	3,080	3,670	2,983	2,696	3,130	3,871	3,177	2,953	3,375	4,070	3,760	3,721	4,147	4,830	4,163	3,941	4,399	5,239	4,436	4,187	4,655
Change	-	-22.43%	-4.49%	24.32%	18.89%	-18.13%	-6.38%	13.99%	19.16%	-18.72%	-9.62%	16.1%	23.67%	-17.93%	-7.05%	14.29%	20.59%	-7.62%	-1.04%	11.45%	16.46%	-13.81%	-5.33%	11.63%	19.1%	-15.33%	-5.61%	11.18%
EBITDA ¹	1,189	701	575	835	1,361	787	654	1,050	1,433	823	661	1,074	1,536	906	759	1,189	1,659	1,074	962	1,612	1,918	1,238	1,061	1,586	2,068	1,362	1,150	1,729
Change	-	-41.04%	-17.97%	45.22%	62.99%	-42.17%	-16.9%	60.55%	36.48%	-42.57%	-19.68%	62.48%	43.02%	-41.02%	-16.23%	56.65%	39.53%	-35.26%	-10.43%	67.57%	18.97%	-35.43%	-14.34%	49.53%	30.39%	-34.15%	-15.52%	50.27%
EBIT ¹	1,148	670	534	798	1,320	746	598	1,009	1,395	783	624	1,038	1,498	867	717	1,141	1,615	1,029	915	1,380	1,874	1,157	1,011	1,516	2,103	1,261	1,101	1,642
Change	-	-41.64%	-20.3%	49.44%	65.41%	-43.48%	-19.84%	68.73%	38.26%	-43.87%	-20.31%	66.35%	44.32%	-42.12%	-17.3%	59.14%	41.54%	-36.28%	-11.08%	50.82%	35.83%	-38.26%	-12.67%	50.04%	38.68%	-40.04%	-12.67%	49.11%
Charge d'intérêts ¹	-83	-89	-80	-82	-79	-78	-80	-85	-91	-102	-103	-	-111	-130	-119	-124	-144	-225	-213	-206	-205	-205	-204.4	-203.2	-203	-202	-201	-201.3
Earnings before Tax (EBT) ¹	981	495	363	626	1,167	596	-868	1,036	1,304	633	510	709	1,342	658	560	609	1,424	698	449	891	1,464	751.5	573.9	1,105	1,618	902.2	693.5	1,276
Change	-	-49.54%	-26.67%	72.45%	86.42%	-48.93%	-	-	25.87%	-51.46%	-19.43%	39.02%	89.28%	-50.97%	-14.89%	8.75%	133.83%	-50.98%	-35.67%	98.44%	64.34%	-48.68%	-23.64%	92.64%	46.38%	-44.25%	-23.13%	83.92%
Net income ¹	772	398	275	524	913	379	-900	863	1,023	501	408	657	1,050	560	456	498	1,071	524	343	716	1,093	553.4	429	863	1,273	707.8	542.8	1,009
Change	-	-48.45%	-30.9%	90.55%	74.24%	-58.49%	-	-	18.54%	-51.03%	-18.56%	61.03%	59.82%	-46.67%	-18.57%	9.21%	115.06%	-51.07%	-34.54%	108.75%	52.62%	-49.36%	-22.48%	101.17%	47.46%	-44.39%	-23.3%	85.85%
Announcement Date	5/1/20	7/31/20	10/30/20	2/5/21	4/30/21	7/30/21	10/29/21	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	7/26/24	10/25/24	1/31/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Aon plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	6,537	8,556	9,628	10,052	15,712	14,762	13,448	12,319
Change	-	30.89%	12.53%	4.4%	56.31%	-6.05%	-8.9%	-8.4%
Announcement Date	2/5/21	2/4/22	2/3/23	2/2/24	1/31/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Aon plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	141	137	196	252	218	265.8	278.5	278
Change	-	-2.84%	43.07%	28.57%	-13.49%	21.94%	4.76%	-0.16%
Free Cash Flow (FCF) ¹	2,642	2,045	3,023	3,183	2,817	3,596	4,186	4,661
Change	-	-22.6%	47.82%	5.29%	-11.5%	27.67%	16.4%	11.34%
Announcement Date	2/5/21	2/4/22	2/3/23	2/2/24	1/31/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Aon plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	30.08%	31.59%	31.98%	32.46%	35.83%	33.18%	33.86%	34.63%
EBIT Margin (%)	28.47%	30.12%	30.77%	31.57%	31.46%	32.09%	32.86%	33.93%
EBT Margin (%)	22.28%	15.84%	25.29%	23.69%	22.05%	22.55%	24.4%	25.37%
Net margin (%)	17.79%	10.29%	20.75%	19.17%	16.91%	16.94%	18.85%	20.6%
FCF margin (%)	23.87%	16.77%	24.22%	23.8%	17.94%	20.75%	22.72%	24.02%
FCF / Net Income (%)	134.18%	162.95%	116.76%	124.14%	106.14%	122.49%	120.53%	116.6%
Profitability
ROA	-	3.92%	8.01%	8.7%	6.4%	5.5%	6.3%	7%
ROE	66.55%	119.14%	1,073.31%	-	125.25%	47.26%	42.19%	38.46%
Financial Health
Leverage (Debt/EBITDA)	1.96x	2.22x	2.41x	2.32x	2.79x	2.57x	2.16x	1.83x
Debt / Free cash flow	2.47x	4.18x	3.18x	3.16x	5.58x	4.1x	3.21x	2.64x
Capital Intensity
CAPEX / Current Assets (%)	1.27%	1.12%	1.57%	1.88%	1.39%	1.53%	1.51%	1.43%
CAPEX / EBITDA (%)	4.24%	3.56%	4.91%	5.8%	3.88%	4.62%	4.46%	4.14%
CAPEX / FCF (%)	5.34%	6.7%	6.48%	7.92%	7.74%	7.39%	6.65%	5.97%
Items per share
Cash flow per share ¹	-	9.651	15.1	16.76	14.28	17.18	19.32	-
Change	-	-	56.45%	10.98%	-14.76%	20.28%	12.45%	-
Dividend per Share ¹	1.78	1.99	2.19	2.41	2.64	2.851	3.051	3.18
Change	-	11.8%	10.05%	10.05%	9.54%	7.99%	7.01%	4.24%
Book Value Per Share ¹	15.5	4.94	-2.575	-4.159	28.34	34.07	40.14	60.44
Change	-	-68.13%	-152.14%	61.49%	-781.35%	20.21%	17.83%	50.57%
EPS ¹	8.45	5.55	12.14	12.51	12.49	13.26	16.17	18.65
Change	-	-34.32%	118.74%	3.05%	-0.16%	6.18%	21.93%	15.3%
Nbr of stocks (in thousands)	226,164	220,332	206,853	200,216	216,266	216,001	216,001	216,001
Announcement Date	2/5/21	2/4/22	2/3/23	2/2/24	1/31/25	-	-	-