Company Valuation: Aon plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 66,223 62,085 58,267 77,674 75,846 57,719 - -
Change - -6.25% -6.15% 33.31% -2.35% -23.9% - -
Enterprise Value (EV) 1 74,779 71,713 68,319 93,386 88,297 70,314 74,945 71,467
Change - -4.1% -4.73% 36.69% -5.45% -20.37% 6.59% -4.64%
P/E 54.2x 24.7x 23.3x 28.8x 20.7x 18.7x 20.3x 16.1x
PBR 60.8x -117x -70x 12.7x 8.09x 5.7x 4.53x 3.61x
PEG - 0x 7.64x -180.14x 0.6x -1.3x -2.68x 0.6x
Capitalization / Revenue 5.43x 4.98x 4.36x 4.95x 4.41x 3.22x 2.65x 2.51x
EV / Revenue 6.13x 5.75x 5.11x 5.95x 5.14x 3.92x 3.44x 3.11x
EV / EBITDA 19.4x 18x 15.7x 18.2x 15.4x 11.5x 10.2x 8.84x
EV / EBIT 20.4x 18.7x 16.2x 18.9x 15.9x 11.9x 10.4x 8.94x
EV / FCF 36.6x 23.7x 21.5x 33.2x 27.4x 19.1x 16.5x 15x
FCF Yield 2.73% 4.22% 4.66% 3.02% 3.64% 5.25% 6.07% 6.65%
Dividend per Share 2 1.99 2.19 2.41 2.64 2.91 3.18 3.471 3.815
Rate of return 0.66% 0.73% 0.83% 0.74% 0.82% 1.17% 1.28% 1.4%
EPS 2 5.55 12.14 12.51 12.49 17.02 14.51 13.41 16.94
Distribution rate 35.9% 18% 19.3% 21.1% 17.1% 21.9% 25.9% 22.5%
Net sales 1 12,193 12,479 13,376 15,698 17,181 17,923 21,778 22,990
EBITDA 1 3,852 3,991 4,342 5,122 5,751 6,116 7,329 8,084
EBIT 1 3,673 3,840 4,223 4,939 5,563 5,930 7,173 7,991
Net income 1 1,255 2,589 2,564 2,654 3,695 3,097 2,834 3,730
Net Debt 1 8,556 9,628 10,052 15,712 12,451 12,595 17,226 13,747
Reference price 2 300.56 300.14 291.02 359.16 352.88 272.10 272.10 272.10
Nbr of stocks (in thousands) 220,332 206,853 200,216 216,266 214,935 212,125 - -
Announcement Date 2/4/22 2/3/23 2/2/24 1/31/25 1/30/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.16x4.23x13.04x1.21% 58.82B
18.75x3.92x11.5x1.17% 57.72B
10.88x0.68x - 3.66% 35.47B
17.33x3x10.77x1.3% 27.13B
17.35x3.84x10.88x1.13% 20.16B
12.85x - - 7.05% 11.56B
41.75x2.42x7.81x1.34% 4.65B
18.44x3.22x9.82x3.87% 4.48B
72.48x18.23x30.14x-.--% 3.82B
Average 26.33x 4.94x 13.42x 2.3% 24.87B
Weighted average by Cap. 20.50x 3.55x 12.09x 1.93%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield