Aon plc · AON · FY2024 Q4 · Calendar Q1 2025

Aon: NFP integration and analytics support a maintained 2025 outlook

The supplied analysis supports a constructive but conditional view: demand for risk and people solutions, NFP integration, analytics tools, and margin expansion provide support for continued growth, while reinsurance pricing, integration execution, retention, tax, and capital-allocation risks remain material.

Reported Before market openNYSEFinancial Services $64.38B market cap
80quality score

Earnings scorecard

Reported versus consensus
Reported EPS — Consensus $4.25
EPS surprise — Reported versus consensus
Reported revenue — Consensus $4.21B
Revenue surprise — Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -0.4% Event window
SPY move -0.5% Same window
Abnormal move +0.2% Stock minus SPY
Volume 1.3× Versus trailing sessions
Subsequent drift +10.4% Up to 20 sessions
AONSPY benchmark

Ask FN2 about AON FY2024 Q4

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Transcript intelligence

What changed

Relative to the prior-quarter analysis, the current analysis emphasizes 2024 results, progress integrating NFP, expanded Risk Analyzer tools, record client treaty-capacity growth, and maintained 2025 guidance. It also identifies a more specific 2025 NFP synergy target and additional restructuring savings.

Guidance delta

Maintained: the supplied analysis says 2025 guidance remained mid-single-digit organic growth, margin expansion, and double-digit free-cash-flow growth.

Key takeaways

  • Management described 2024 as a strong year, with growth and margin expansion highlighted in the supplied analysis.
  • The 3x3 Plan remains the organizing framework across Risk Capital, Human Capital, client leadership, and Business Services.
  • NFP integration is progressing, with retention and revenue synergies identified as important execution markers.
  • Property, Cyber, and Health Risk Analyzer tools were highlighted as drivers of client win rates.
  • The supplied analysis also points to reinsurance-rate, foreign-exchange, tax, and integration risks.

Management priorities

  • Continue priority hiring in energy, construction, and health.
  • Expand Risk Analyzer tools and the Aon Business Services platform.
  • Deliver NFP revenue synergies in 2025.
  • Realize incremental restructuring savings and pursue targeted middle-market tuck-in acquisitions.
  • Maintain capital-allocation discipline while advancing the 3x3 Plan.

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Earnings History

Estimate Beat Miss Match
AON REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q4 '23 estimate $3B Q4 '23 actual $3B, beat Q1 '24 estimate $4B Q1 '24 actual $4B, beat Q2 '24 estimate $4B Q2 '24 actual $4B, beat Q3 '24 estimate $4B Q3 '24 actual $4B, beat Q2 '25 estimate $4B Q2 '25 actual $4B, miss Q3 '25 estimate $4B Q3 '25 actual $4B, beat Q4 '25 estimate $4B Q4 '25 actual $4B, miss Q1 '26 estimate $5B Q1 '26 actual $5B, beat Q2 '26 estimate $4B Q2 '26 actual $4B, miss Q3 '26 estimate $4B Q4 '26 estimate $5B Q1 '27 estimate $5B
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Analyst Consensus ?

ConsensusHold38 ratings
Bullish1950.0%
Neutral1847.4%
Bearish12.6%

Analyst 52W Price Targets

$303.52Current
$245Low
$375.24Average
$445High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wells Fargo Overweight OverweightMaintainOct 12, 2026
Keefe, Bruyette & Woods Outperform OutperformMaintainOct 12, 2026
Mizuho Outperform OutperformMaintainOct 7, 2026
Cantor Fitzgerald Overweight OverweightMaintainOct 7, 2026
Barclays Equal Weight Equal WeightMaintainOct 7, 2026
Show 33 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $303.52. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Wells FargoElyse Greenspan$323$273.47 +6.4%Oct 12, 2026
Cantor FitzgeraldRyan Tunis$400$273.99 +31.8%Oct 7, 2026
Mizuho SecuritiesAnalyst unavailable$324$273.99 +6.7%Oct 7, 2026
BarclaysAnalyst unavailable$317$273.99 +4.4%Oct 7, 2026
Morgan StanleyBob Huang$350$271.93 +15.3%Oct 6, 2026
See 64 more

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Company context

Snapshot as of publication

Aon plc operates as a professional services firm in the United States, rest of the Americas, the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, and the Asia Pacific. It operates through Risk Capital and Human Capital segments. The company offers commercial risk solutions comprising retail and insurance brokerage, specialty solutions, global risk consulting, captives management, and affinity programs; health solutions, such as consulting and brokerage, consumer benefits, and talent advisory services; and wealth solutions, including retirement consulting and investments.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2025-01-17T00:04:44.363398+00:00
  3. Polygon adjusted daily market bars · 2026-10-25T06:00:43.954716+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T06:00:43.951955+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.