Financials Aon plc

Equities

AON

IE00BLP1HW54

Multiline Insurance & Brokers

Real-time Estimate Cboe BZX 10:26:15 2023-12-08 am EST Intraday chart for Aon plc 5-day change 1st Jan Change
321.61 USD -0.02% -1.51% +7.23%

Valuation

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 35 009 48 768 47 782 66 223 62 085 64 408 - -
Enterprise Value (EV) 1 40 425 55 317 54 319 74 779 71 713 74 354 74 101 73 364
P/E ratio 31,7x 32,7x 25,0x 54,2x 24,7x 23,2x 22,0x 19,5x
Yield 1,07% 0,83% 0,84% 0,66% 0,73% 0,74% 0,80% 0,86%
Capitalization / Revenue 3,25x 4,43x 4,32x 5,43x 4,98x 4,83x 4,55x 4,31x
EV / Revenue 3,75x 5,02x 4,91x 6,13x 5,75x 5,57x 5,23x 4,91x
EV / EBITDA 14,1x 17,3x 16,3x 19,4x 18,0x 17,1x 15,9x 14,9x
EV / FCF 28,0x 34,4x 20,6x 36,6x 23,7x 23,0x 21,6x 20,0x
FCF Yield 3,58% 2,91% 4,86% 2,73% 4,22% 4,35% 4,63% 4,99%
Price to Book 8,65x 14,3x 13,6x 60,8x -117x 30,4x 12,6x 7,67x
Nbr of stocks (in thousands) 240 844 234 137 226 164 220 332 206 853 200 216 - -
Reference price 2 145 208 211 301 300 322 322 322
Announcement Date 2/1/19 1/31/20 2/5/21 2/4/22 2/3/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 10 770 11 013 11 066 12 193 12 479 13 345 14 169 14 935
EBITDA 1 2 873 3 197 3 329 3 852 3 991 4 350 4 652 4 939
EBIT 1 2 697 3 025 3 150 3 673 3 840 4 214 4 553 4 878
Operating Margin 25,0% 27,5% 28,5% 30,1% 30,8% 31,6% 32,1% 32,7%
Earnings before Tax (EBT) 1 1 246 1 871 2 465 1 931 3 156 3 666 3 767 4 104
Net income 1 1 134 1 532 1 969 1 255 2 589 2 856 2 863 3 092
Net margin 10,5% 13,9% 17,8% 10,3% 20,7% 21,4% 20,2% 20,7%
EPS 2 4,59 6,37 8,45 5,55 12,1 13,9 14,6 16,5
Free Cash Flow 1 1 446 1 610 2 642 2 045 3 023 3 238 3 431 3 659
FCF margin 13,4% 14,6% 23,9% 16,8% 24,2% 24,3% 24,2% 24,5%
FCF Conversion (EBITDA) 50,3% 50,4% 79,4% 53,1% 75,7% 74,4% 73,8% 74,1%
FCF Conversion (Net income) 128% 105% 134% 163% 117% 113% 120% 118%
Dividend per Share 2 1,56 1,72 1,78 1,99 2,19 2,40 2,59 2,77
Announcement Date 2/1/19 1/31/20 2/5/21 2/4/22 2/3/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period : December 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
Net sales 1 2 886 2 702 3 080 3 670 2 983 2 696 3 130 3 871 3 177 2 953 3 361 4 138 3 375 3 128 3 564
EBITDA 1 787 654 1 050 1 433 823 661 1 074 1 536 906 759 1 168 1 646 957 792 1 245
EBIT 1 746 598 1 009 1 395 783 624 1 038 1 498 867 717 1 139 1 610 935 779 1 235
Operating Margin 25,8% 22,1% 32,8% 38,0% 26,2% 23,1% 33,2% 38,7% 27,3% 24,3% 33,9% 38,9% 27,7% 24,9% 34,7%
Earnings before Tax (EBT) 1 596 -868 1 036 1 304 633 510 709 1 342 658 560 1 006 1 456 758 600 1 033
Net income 1 379 -900 863 1 023 501 408 657 1 050 560 456 768 1 076 529 409 757
Net margin 13,1% -33,3% 28,0% 27,9% 16,8% 15,1% 21,0% 27,1% 17,6% 15,4% 22,9% 26,0% 15,7% 13,1% 21,2%
EPS 2 1,66 -3,99 3,90 4,73 2,33 1,92 3,14 5,07 2,71 2,23 3,76 5,34 2,64 2,06 3,86
Dividend per Share 2 0,51 0,51 0,51 0,51 0,56 0,56 - 0,56 0,62 0,62 0,60 0,61 0,63 0,63 0,63
Announcement Date 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 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 5 416 6 549 6 537 8 556 9 628 9 946 9 694 8 957
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1,89x 2,05x 1,96x 2,22x 2,41x 2,29x 2,08x 1,81x
Free Cash Flow 1 1 446 1 610 2 642 2 045 3 023 3 238 3 431 3 659
ROE (net income / shareholders' equity) 46,2% 72,5% 66,6% 119% 1 073% 74,5% 89,1% 79,4%
Shareholders' equity 1 2 455 2 114 2 959 1 053 241 3 836 3 213 3 895
ROA (Net income/ Total Assets) 4,32% 6,70% - 3,92% 8,01% 8,70% 8,70% 9,10%
Assets 1 26 255 22 856 - 32 015 32 310 32 830 32 912 33 978
Book Value Per Share 2 16,8 14,5 15,5 4,94 -2,58 10,6 25,5 41,9
Cash Flow per Share 2 - - - 9,65 15,1 14,3 16,3 -
Capex 1 240 225 141 137 196 244 231 241
Capex / Sales 2,23% 2,04% 1,27% 1,12% 1,57% 1,83% 1,63% 1,61%
Announcement Date 2/1/19 1/31/20 2/5/21 2/4/22 2/3/23 - - -
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
20
Last Close Price
321.69USD
Average target price
336.93USD
Spread / Average Target
+4.74%
Consensus
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