Aon (AON) Operating Expenses (2009 - 2026)
Aon (AON) reported Operating Expenses of $3.33 billion for Q2 2026, up 1.1% from $3.3 billion a year earlier and up 0.4% from the prior quarter.
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Analysis
Aon (AON) Operating Expenses (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Aon's Operating Expenses came in at $12.92 billion, up 1.6% year-over-year; for FY2025, it came in at $12.84 billion, up 8.2% from FY2024.
- Operating Expenses has increased for three consecutive years, with a five-year compound annual growth rate of 9.2% (FY2020 to FY2025).
- By year, Operating Expenses came in at $11.86 billion in FY2024 (+23.7%), $9.59 billion in FY2023 (+8.9%), $8.81 billion in FY2022 (-12.8%) and $10.1 billion in FY2021 (+21.9%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses since Q3 2021.
- Year over year, Operating Expenses has now increased in each of the last 15 quarters, with growth averaging 11.6% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was Q3 2021 (growth of 80.2%); the low point was Q3 2022 (a decline of 39.9%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $3.32 billion (Q1 2026), $3.09 billion (Q4 2025) and $3.18 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 134.30 Bn | 80.89 Bn | 9.13 Bn | 12.19 Bn |
| 2 | Progressive | 130.32 Bn | 106.15 Bn | 9.04 Bn | 19.40 Bn |
| 3 | Marsh & Mclennan Companies | 85.17 Bn | 76.66 Bn | - | 5.51 Bn |
| 4 | Travelers Companies | 78.40 Bn | 54.65 Bn | 6.23 Bn | 9.39 Bn |
| 5 | Manulife Financial | 73.81 Bn | -21.07 Bn | - | -902.21 Mn |
| 6 | Metlife | 64.41 Bn | -42.37 Bn | 7.82 Bn | 18.12 Bn |
| 7 | Allstate | 60.46 Bn | 21.73 Bn | 8.73 Bn | 14.45 Bn |
| 8 | Arthur J. Gallagher | 60.04 Bn | 54.44 Bn | - | 3.59 Bn |
| 9 | Aon | 58.69 Bn | 51.91 Bn | - | 3.33 Bn |
| 10 | Aflac | 58.66 Bn | 33.88 Bn | 2.27 Bn | 3.12 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.33 Bn |
| Mar 31, 2026 | 3.32 Bn |
| Dec 31, 2025 | 3.09 Bn |
| Sep 30, 2025 | 3.18 Bn |
| Jun 30, 2025 | 3.30 Bn |
| Mar 31, 2025 | 3.27 Bn |
| Dec 31, 2024 | 3.06 Bn |
| Sep 30, 2024 | 3.10 Bn |
| Jun 30, 2024 | 3.10 Bn |
| Mar 31, 2024 | 2.61 Bn |
| Dec 31, 2023 | 2.60 Bn |
| Sep 30, 2023 | 2.26 Bn |
| Jun 30, 2023 | 2.34 Bn |
| Mar 31, 2023 | 2.40 Bn |
| Dec 31, 2022 | 2.12 Bn |
| Sep 30, 2022 | 2.11 Bn |
| Jun 30, 2022 | 2.28 Bn |
| Mar 31, 2022 | 2.30 Bn |
| Dec 31, 2021 | 2.11 Bn |
| Sep 30, 2021 | 3.50 Bn |
API Access
Aon Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=AON&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "AON", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=AON&period=max&api_key=YOUR_API_KEY");
const data = await res.json();