Aon Plc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Aon Plc (AON) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Aon Plc vs Its Competitors
- TTM: Trailing 12-month revenue of 17,707M vs 236,019M combined for its competitors (7.0% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-7.4% annualized vs trailing 12 months), vs decelerating (-2.4%) for its tracked peer group.
- Growth: Aon Plc generated 2.6% revenue growth year over year in Q3 2026, vs -1.3% for its competitors combined.
- Profitability: Its 11.6% net margin compares with 12.8% for the peer group.
- Scale: Aon Plc ranks #3 of 29 companies by market capitalization in the Insurance Brokerage industry, holding 19.1% of industry market cap.
- Peer revenue share: Aon Plc accounted for 6.7% of combined revenue among its tracked peer group, up from 6.4% a year earlier.
- Peer differentiation: Revenue per employee of $0.30M compares with $1.11M for the peer group (0.3x).
- Structure: Aon Plc operates in the following segments: Risk Capital, Human Capital.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
AON Sales vs. its Competitors, Q3 2026
Aon Plc reported revenue growth of 2.60 % year on year in Q3 2026, above its competitors' combined revenue change of -1.28 %.
With a net margin of 11.61 %, Aon Plc reported lower profitability than its competitors (12.78 %).
Aon Plc generated 6.65 % of the combined sales of its peer group, up from 6.41 % a year earlier.
API endpoints for this dataset
Aon Plc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Aon Plc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Aon Plc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Aon Plc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (5) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Aon Plc's competitor groups requires a Commercial License.
For context: the Insurance Brokerage industry grew revenue 10.5% year over year, combined, vs 2.6% for Aon Plc. Aon Plc's share of combined industry revenue moved from 11.11% to 10.31%, a loss of 0.79 percentage points.
Aon Plc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Aon Plc | Yes | Yes | No | No |
| Competitors combined (70) | ||||
| High-Confidence Competitors (9) | ||||
| Similar-Size Competitors (7) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 87.50 % (7 of 8) | 37.50 % (3 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
AON Stock Performance relative to its Competitors
AON Stock Performance relative to High-Confidence Competitors
AON Stock Performance relative to Similar-Size Competitors
AON Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Cbl International Limited | 282.9% | Outperformed |
| 2 | Robert Half Inc | 282.9% | Outperformed |
| 3 | Siriuspoint Ltd | 282.9% | Outperformed |
| 4 | Assurant Inc | 282.9% | Outperformed |
| 5 | Reinsurance Group Of America Incorporated | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Aon Plc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Aon Plc's Comment on Competition and Industry Peers
Publicly Traded Peers of Aon Plc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Aon Plc |
71,314.53 | 17,707.00 |
 Automatic Data Processing Inc |
120,611.96 | 22,262.90 |
 Marsh and Mclennan Companies Inc |
98,108.78 | 28,470.00 |
 The Cigna Group |
77,496.60 | 282,382.00 |
 Arthur J Gallagher and Co |
72,289.29 | 27,382.50 |
 Allstate Corp |
66,021.27 | 70,137.00 |
| SUBTOTAL | 1,260,433.63 | 1,359,677.52 |
Sign in to see all competitors of Aon Plc.
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Aon Plc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Aon Plc's Competitors Named by the Company
Competitive relationships identified from Aon Plc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Willis Towers Watson | Company report | 85% |
| The Baldwin Insurance Group Inc | Company report | 85% |
| Korn Ferry | Company report | 85% |
| Lockton Companies, Inc. | Company report | 85% |
| Marsh & McLennan Companies, Inc. | Company report | 85% |
| Sei Investments Company | Company report | 85% |
| Arthur J Gallagher & Company | Company report | 85% |
| Qualtrics International Inc | Company report | 85% |
| Aegon Ltd | Company report | 85% |
| Conduent Inc | Company report | 85% |
| Equity Residential | Company report | 85% |
| Innovative International Acquisition Corp | Company report | 85% |
| American Oncology Network Inc | Company report | 85% |
| Financial Institutions Inc | Company report | 85% |
| Palatin Technologies Inc | Company report | 85% |
| Brown and Brown Inc | Company report | 85% |
| Assurant Inc | Company report | 85% |
| Berkshire Hathaway Inc | Company report | 85% |
| The Cigna Group | Company report | 85% |
| Cbl International Limited | Company report | 85% |
| The Hartford Insurance Group Inc | Company report | 85% |
| Employers Holdings Inc | Company report | 85% |
| Alleghany Corp | Company report | 85% |
| Horace Mann Educators Corporation | Company report | 85% |
| Automatic Data Processing Inc | Company report | 85% |
| American International Group Inc | Company report | 85% |
| Prudential Financial Inc | Company report | 85% |
| Equifax Inc | Company report | 85% |
| Metlife Inc | Company report | 85% |
| Principal Financial Group inc | Company report | 85% |
| Fanhua Inc | Company report | 85% |
| Arch Capital Group Ltd | Company report | 85% |
| Hartford Financial Services Group Inc | Company report | 85% |
| Corvel Corporation | Company report | 85% |
| Unum Group | Company report | 85% |
| United Fire Group Inc | Company report | 85% |
| Partnerre Ltd | Company report | 85% |
Company report basis, confidence, active dates and source counts for Aon Plc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Aon Plc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Aon Plc | Risk Capital 65.40 % |
| Automatic Data Processing Inc | Employer Services 67.12 % |
| Marsh and Mclennan Companies Inc | Risk 55.31 % |
| The Cigna Group | Evernorth 86.55 % |
| Arthur J Gallagher and Co | Brokerage 87.35 % |
| Allstate Corp | Allstate Protection 86.96 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Aon Plc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Aon Plc | 71,315 | 295,117 | 65,750 |
| Automatic Data Processing Inc | 120,612 | 383,843 | 78,029 |
| Marsh and Mclennan Companies Inc | 98,109 | 299,684 | 43,358 |
| The Cigna Group | 77,497 | 4,171,078 | 102,555 |
| Arthur J Gallagher and Co | 72,289 | 380,313 | 21,874 |
| Allstate Corp | 66,021 | 1,308,526 | 248,134 |
| PEERS TOTAL | 1,189,119 | 1,110,274 | 151,513 |
Aon Plc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Aon Plc | Europe, Middle East, and Africa, Other Than United Kingdom and Ireland 14.78 % |
| Arthur J Gallagher and Co | United States 70.72 % |
| Willis Towers Watson Plc | US 47.03 % |
| Brown and Brown Inc | US 88.00 % |
| Cbl International Limited | CN 70.34 % |
| Innovative International Acquisition Corp | IN 100.00 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Aon Plc's Position in Industry Market Structure
Market-capitalization share and concentration across all 28 companies in Aon Plc's industry classification, broader than the peer set above. Market cap in millions of $.Aon Plc ranks #3 of 28 companies by market capitalization in its industry, holding 19.11 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,590, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Marsh and Mclennan Companies Inc | 98,723 | 26.34 % |
| 2 | Arthur J Gallagher and Co | 72,289 | 19.29 % |
| 3 | Aon Plc | 71,616 | 19.11 % |
| 4 | Willis Towers Watson Plc | 30,913 | 8.25 % |
| 5 | Brown and Brown Inc | 1,234 | 5.2% |
| 6 | Equitable Holdings Inc | 1,234 | 5.2% |
| 7 | Erie Indemnity Company | 1,234 | 5.2% |
| 8 | Fidelity National Financial Inc | 1,234 | 5.2% |
| 9 | First American Financial Corporation | 1,234 | 5.2% |
| 10 | Ryan Specialty Holdings Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Aon Plc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Aon Plc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Marsh and Mclennan Companies Inc | 98,723 | 15.05 % |
| 2 | Arthur J Gallagher and Co | 72,289 | 13.64 % |
| 3 | Aon Plc | 71,616 | -1.89 % |
| 4 | Willis Towers Watson Plc | 1,234 | 12.3% |
| 5 | Brown and Brown Inc | 1,234 | 12.3% |
| 6 | Equitable Holdings Inc | 1,234 | 12.3% |
| 7 | Erie Indemnity Company | 1,234 | 12.3% |
| 8 | Fidelity National Financial Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Aon Plc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Aon Plc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Insurance Brokerage industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (37 companies). See the full Insurance Brokerage industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 27.28 % (avg) | -27.3 pp |
| Operating Margin | 24.19 % | industry median | -5.8 pp |
| EBITDA Margin | 31.81 % | 11.68 % (avg) | +20.1 pp |
| Capital Intensity (Capex / Revenue) | 1.74 % | 2.22 % (avg) | -0.5 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Aon Plc's Valuation vs Competitive Position
Valuation multiples vs the Insurance Brokerage industry average (37 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Insurance Brokerage industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 18.7x | 26.2x | -7.4x |
| EV / EBITDA | 15.8x | 10.7x | +5.0x |
| P/B | 7.3x | 2.4x | +4.9x |
| Return on Equity | 40.15 % | industry aggregate | 17.59 % |
| Return on Invested Capital | 8.67 % | 10.16 % (avg) | -1.49 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Aon Plc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 7.72 % | 2.33 % | 0.46 % | 10.22 % | 2.40 % | 7.28 % | 17.59 % | 9.10 % |
| Operating Margin | -83.73 % | 60.58 % | 64.08 % | 50.07 % | 61.86 % | 29.87 % | 18.26 % | 23.15 % |
| Return on Invested Capital | -49.76 % | 36.91 % | 39.34 % | 33.73 % | 55.74 % | 30.84 % | 9.27 % | 7.34 % |
| P/E | 33.8x | 32.3x | 24.2x | 52.5x | 25.0x | 26.3x | 29.3x | 20.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Aon Plc's Strategic Group Map
Aon Plc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Aon Plc's trailing-12-month revenue growth of 3.9% and operating margin of 24.2% compares with an average of 5.4% growth and 24.9% margin across its 8 closest peers by combined growth, margin and ROIC -- Aon Plc sits below that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Aon Plc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Aon Plc falls in the Dog quadrant: relative market share of 0.73x vs its largest competitor, in an industry growing revenue 7.3% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Aon Plc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,590 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 1.74 % vs industry average 2.22 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Aon Plc's dedicated Suppliers and Customers pages, not here.
Aon Plc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Aon Plc falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Aon Plc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Return on equity 17.6 points above the industry aggregate.
Weaknesses
- Operating margin 5.8 points below the industry median.
- Latest-quarter revenue run-rate is decelerating (-7.4% annualized vs trailing 12 months).
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-2.4% annualized).
Methodology: see Methodology: SWOT Analysis.
Aon Plc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Aon Plc | 0.06 | 1.06 | 1.86 |
| Automatic Data Processing Inc | 0.07 | 1.04 | 0.96 |
| Marsh and Mclennan Companies Inc | 0.52 | 1.13 | 1.36 |
| The Cigna Group | 0.12 | 0.82 | 0.76 |
| Arthur J Gallagher and Co | - | 1.14 | 0.56 |
| Allstate Corp | 0.02 | 0.15 | 0.25 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Aon Plc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Aon Plc | Q3 2026 | +2.6 % | +1.3 % |
| Automatic Data Processing Inc | Q3 2026 | +6.1 % | +11.1 % |
| Marsh and Mclennan Companies Inc | Q3 2026 | +7.9 % | +6.7 % |
| The Cigna Group | Q2 2026 | +6.7 % | +22.4 % |
| Arthur J Gallagher and Co | Q2 2026 | -37.4 % | -11.5 % |
| Allstate Corp | Q2 2026 | +11.8 % | +55.8 % |
| PEERS TOTAL | +5.7 % | +34.3 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Aon Plc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Aon Plc | Q3 2026 | - | +36.2 % |
| Automatic Data Processing Inc | Q3 2026 | +2,304.9 % | +20.6 % |
| Marsh and Mclennan Companies Inc | Q3 2026 | - | +12.5 % |
| The Cigna Group | Q2 2026 | +6.4 % | - |
| Arthur J Gallagher and Co | Q2 2026 | - | +29.4 % |
| Allstate Corp | Q2 2026 | +6.1 % | - |
Aon Plc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Aon Plc | 7.15% | 9.96% | 40.15% |
| Automatic Data Processing Inc | 7.40% | 34.49% | 76.51% |
| Marsh and Mclennan Companies Inc | 6.96% | 11.21% | 27.25% |
| The Cigna Group | 4.44% | 6.84% | 16.41% |
| Arthur J Gallagher and Co | 2.03% | 4.08% | 6.69% |
| Allstate Corp | 10.88% | 16.50% | 43.12% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Aon Plc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Aon Plc | 18.55 | 4.03 |
| Automatic Data Processing Inc | 26.94 | 5.42 |
| Marsh and Mclennan Companies Inc | 24.62 | 3.45 |
| The Cigna Group | 12.45 | 0.27 |
| Arthur J Gallagher and Co | 46.94 | 2.64 |
| Allstate Corp | 5.10 | 0.94 |
| PEERS AVERAGE | 6.74 | 0.93 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.