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Aon Reports Fourth-Quarter and Full-Year 2025 Results

Aon plc (NYSE: AON) has once again showcased its strength in the market with its latest financial results for the fourth quarter and entire year 2025. The company has reported a total revenue of $4.3 billion for Q4, reflecting a 4% increase compared to the previous year, while the full-year revenue reached $17.2 billion, marking a 9% growth over 2024.

The financial performance stems from the execution of Aon's 3x3 Plan, which is part of the Aon United strategy. The company achieved 9% total revenue growth for the full year, alongside a commendable 6% organic revenue growth. Notably, Aon announced that its diluted earnings per share (EPS) surged to $7.82, a significant increase of 138% from last year’s $3.28.

CEO Greg Case highlighted the factors contributing to this positive outcome, mentioning, “Our strategic investments in data-driven insights through Aon Business Services are enabling us to meet rising client demand in an increasingly complex environment.” The strategic investments have allowed Aon to balance capital allocation effectively, ensuring a steady return to shareholders while maintaining growth in high-return mergers and acquisitions.

Throughout 2025, Aon successfully paid down $1.9 billion in debt, achieving their leverage objectives. This strong balance sheet positions Aon favorably to enhance its disciplined capital allocation model as they navigate new opportunities in 2026.

Financial Highlights

The fourth-quarter summary illustrates the dynamic nature of Aon's operations:

• - Total Revenue: Increased by 4% to $4.3 billion, with organic revenue growth reported at 5%.
• - Organic Revenue Growth (Non-GAAP): Improved by 6% for the full year.
• - Operating Margin: Rose to 28.1%, compared to 26.3% in the previous year.
• - Adjusted Operating Margin (Non-GAAP): Increased to 35.5% from 33.3%.

For the full year, Aon’s performance indicators continued to trend positively, reporting:

• - Net Income Attributable to Aon Shareholders: Reached $3.7 billion, translating to $17.02 per diluted share, compared to $2.7 billion or $12.49 per diluted share from 2024—a 39% increase.
• - Free Cash Flow (Non-GAAP): Grew by 14% to $3.2 billion, affirming the organization's commitment to cash generation and efficient capital management.

The effectiveness of Aon's investment strategy and operational efficiency was clearly evident, especially as the company expanded its adjusted operating income and margin metrics significantly within the year. Operating income rose by 11% year-over-year to hit $1.2 billion for Q4, emphasizing leverage through increased efficiencies and successful integration following previous acquisitions.

Looking Ahead to 2026

As Aon enters 2026, the company is optimistic, forecasting mid-single-digit organic revenue growth. The guidance reflects confidence in continuing their strategic roadmap while addressing evolving client needs amid a complex global landscape.

In addition, they anticipate strong adjusted EPS growth alongside ongoing double-digit free cash flow growth, further ensuring stability and value for stakeholders moving forward.

In light of these results, Aon’s robust financial health coupled with its strategic initiatives solidifies its position as a leader in the professional services sector.

For those interested in more detailed discussions regarding the financials, a conference call will be held on January 30, 2026, at 7:30 AM Central Time, providing further insights into Aon’s operational performance and projections for the upcoming year.