NYSE$AON

Aon plc · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

AON reported Q3 2025, revenue of $4B, net income of $458M, diluted EPS of $2.11.

For Q3 2025, AON reported revenue of $4B, net income of $458M, diluted EPS was $2.11. Management discusses segment performance, capital allocation, and outlook in the earnings filing.

  • Revenue $4B.
  • Net income $458M.
  • Diluted EPS $2.11.

Headline financials

Total Revenue

$4B

Previous: $3.72B+7.4%
EPS (adj)

$2.11

Previous: $2.72-22.4%
Organic Revenue Growth

7.0%

Previous: 6.0%+16.7%
Operating Margin

20.4%

Previous: 16.7%+22.2%
Adjusted Operating Margin

26.3%

Previous: 24.6%+6.9%
Diluted Shares

216.7M

Previous: 218.4M-0.8%
Share Repurchases

$250M

No prior period
Effective Tax Rate

21.3%

Previous: 20.9%+1.9%
Adjusted Effective Tax Rate

19.2%

Previous: 18.0%+6.7%
Capital Expenditures

-$189M

Previous: -$163M-16.0%
Free Cash Flow

$269M

No prior period
Net Income

$458M

Previous: $355M+29.0%
Operating Income

$816M

Previous: $623M+31.0%
Cash & Equivalents

$1.1B

No prior period
Total Assets

$51.6B

No prior period

Revenue & EPS history

Aon · Revenue · Quarterly

$4B

Q3 2025+7.4%vs Q3 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 release discusses AON's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • AON cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter 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 Q3 2025

Historical avgQ3 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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