Aon plc. - Ordinary Shares - Class A
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+ FollowMarket Cap$68.24B
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Earnings Call Q3 2026
October 28, 2026 - AI Summary
Strong Q3 operating performance; momentum is broad-based
- Reported 6% overall organic revenue growth (7% risk capital, 5% human capital), with mid-to-high single digit+ growth across solution lines.
- Total revenue: $4.1B (+3%); Adjusted operating income: $1.1B (+5%).
- Adjusted operating margin: 27% (+70 bps) driven by operating leverage (scalable model/ABS, AI productivity) offsetting rate impacts on investment income.
- Adjusted EPS: $3.36 (+10% YoY) and Free Cash Flow: $1.1B.
- New business contribution: 9–11 points of growth and a key trend: new business has contributed to growth for 10 consecutive quarters (supports durability through the cycle).
Client demand stays resilient amid volatility; pricing soft but partially offset
- Management emphasizes macro backdrop: volatility, geopolitical uncertainty, cyber threats, and rapid technology change are driving demand for integrated risk + people solutions.
- Net market impact slightly positive and within the expected 0–2 point range, despite softer pricing environment in P&C and reinsurance (rates down but exposure/new business/retention offset).
- Retention remains in the mid-90% range; revenue growth tied to continued investments in talent (priority hires growing 4%–8% this year; revenue-generating headcount +4% YTD).
Aon United strategy is the core “engine”; AI + integrated risk capital + human capital
- The firm positions Aon United (Risk Capital + Human Capital + ABS shared services) as the differentiator enabling more comprehensive advice and solutions.
- AI enabled “analyzers/diagnostics” are being adopted: ~6.6k clients used risk analytics in Q3, with usage up 30% YoY—a measurable driver of new business and retention.
- Productivity improvements are cited as material: shared services + AI lower unit costs and fund growth investments (supports the margin expansion).
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Share Statistics
| Market cap | $68.24 Billion |
|---|---|
| Enterprise Value | $82.88 Billion |
| Annual dividend | $3.13 |
| Dividend yield | 0.97% |
| Earnings per Share | $17.13 |
| Beta | 0.69 |
| Outstanding Shares | 212,300,000 |
Return
| Return on Equity | 40.70% |
|---|---|
| Return on Assets | 7.37% |
| Return on Invested Capital | 17.76% |
Valuation & Multiples
| P/E Ratio | 17.52 |
|---|---|
| PEG | 1372.41 |
| Price to Sales | 4.15 |
| Price to Book Ratio | 7.66 |
| Enterprise Value to Revenue | 4.69 |
| Enterprise Value to EBIT | 17.87 |
| Enterprise Value to Net Income | 21 |
| Total Debt to Enterprise | 0.19 |
| Debt to Equity | 1.62 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 30, 2026
EPS Estimate
$3.31
Consensus analyst estimateRevenue Estimate
$4.08 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 29, 2027
EPS Estimate
$4.80
Consensus analyst estimateRevenue Estimate
$4.54 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 2.00, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 2.0000▲ 133.97% |
|---|---|
| Total Calls | 200▼ 99.93% |
| Total Puts | 400▼ 99.77% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.51%▼ 88.27% |
|---|---|
| Total Invested | $1.48B▼ 97.69% |
| Investors Holding | 386▼ 905.00% |
About Aon plc.
50,000 employees
Aon plc is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.