NYSE$AON

Aon plc · Q2 2025 earnings

Q2 2025 earnings · · Before market open · Investor relations

Briefing

Aon reported Q2 2025 total revenue of $4.16B with net income of $594M and diluted EPS of $2.66.

Total revenue grew to $4.16 billion as Risk Capital and Human Capital solutions demand remained firm. Net income was $594 million; diluted EPS was $2.66. Organic revenue growth and the Accelerating Aon United program support margin expansion.

  • Q2 total revenue $4.16B.
  • Net income $594M; diluted EPS $2.66.
  • Organic growth in Risk and Human Capital solutions.
  • Macro and insurance pricing cycles affect brokerage trends.

Headline financials

Total Revenue

$4.16B

Previous: $3.76B+10.5%
EPS (adj)

$2.66

Previous: $2.93-9.2%
Organic Revenue Growth

6.0%

No prior period
Operating Margin

20.7%

No prior period
Adjusted Operating Margin

28.2%

No prior period
Diluted Shares

217.3M

No prior period
Share Repurchases

$250M

No prior period
Effective Tax Rate

15.5%

No prior period
Adjusted Effective Tax Rate

16.5%

No prior period
Capital Expenditures

-$120M

Previous: -$101M-18.8%
Free Cash Flow

$459M

Previous: $721M-36.3%
Net Income

$579M

Previous: $538M+7.6%
Operating Income

$859M

Previous: $656M+30.9%
Cash & Equivalents

$1.01B

No prior period
Total Assets

$54B

No prior period

Revenue & EPS history

Aon · Revenue · Quarterly

$4.16B

Q2 2025+10.5%vs Q2 2024
Beat estimate in 2 of 5 quarters(40%)
ActualEstimate

Revenue by segment

Aon · $3.13B total across 4 segments · Q4 2022

  • Commercial Risk
    $1.82B
  • Health
    $678M
  • Wealth
    $353M
  • Reinsurance
    $281M

Forward guidance

The quarterly filing discusses operating priorities, liquidity, and sector risks.

Tailwinds

  • MD&A outlines strategic priorities and capital allocation.
  • Segment commentary supports the earnings narrative.

Headwinds

  • Macro, rates, or input costs may pressure margins.
  • One-time items can affect year-over-year comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2025

Historical avgQ2 2025

-0.6%

Avg return

Earnings day

-1.2%

Avg return

5 days after

+1.4%

Avg return

30 days after

33%

11 / 33 earnings

Positive

+5.1%

Q1 2021

Best reaction

-9.4%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.0%-1.1%+1.3%
Q4 2025+2.0%+2.1%-2.2%
Q3 2025+3.8%+4.1%+7.8%
Q2 2025+4.6%-0.4%+5.2%
Q1 2025-8.0%-2.8%-2.3%
Q4 2024+0.3%-1.1%+4.0%
Q3 2024-0.5%+0.1%+6.3%
Q2 2024+0.0%+0.8%+12.0%
Q1 2024+0.0%-4.4%-15.5%
Q4 2022+0.0%-0.5%+2.7%
Q3 2023-4.0%-2.5%+3.2%
Q2 2023-5.1%-4.1%-1.5%
Q1 2023-2.3%-3.8%-6.7%
Q3 2022+2.4%-1.1%+8.8%
Q2 2022-0.6%-2.3%-2.4%
Q1 2022-9.4%-8.1%-11.4%
Q3 2021-0.4%-8.2%-8.4%
Q2 2021-1.4%-1.7%+8.1%
Q1 2021+5.1%+6.3%+5.9%
Q3 2020-1.5%-1.8%+10.6%
Q2 2020-1.1%-4.3%-3.5%
Q1 2020+3.2%+2.6%+14.1%
Q3 2019-1.4%+1.7%+4.3%
Q2 2019-1.2%-3.9%-3.9%
Q1 2019+0.3%-2.2%-1.0%
Q3 2018+1.6%+4.1%+7.5%
Q2 2018-2.5%-4.0%-1.9%
Q1 2018-0.4%+0.9%+0.1%
Q3 2017-3.3%-5.5%-8.3%
Q2 2017-0.0%+0.9%-0.1%
Q1 2017+1.2%+1.2%+7.2%
Q3 2016+2.7%-0.8%+5.0%
Q2 2016-3.0%-0.6%-0.3%

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