Aon (AON) Operating Margin (2009 - 2026)
Aon (AON) recorded quarterly Operating Margin of 34.07% in Q1 2026, up 21.27% quarter-over-quarter from 28.09% in Q4 2025, and up 317.0% on a YoY basis from 8.17% in Q1 2025.
Aon (AON) Operating Margin (2009 - 2026) Analysis & Trends
Aon's Operating Margin history runs 18 years deep, the most recent figure standing at 34.07% for Q1 2026.
- In Q1 2026, Operating Margin rose 317.0% year-over-year to 34.07%; the TTM figure through Mar 2026 stood at 26.3% (up 287.0% YoY), while the FY2025 annual figure was 25.28%, up 85.0% from the prior year.
- Operating Margin was 34.07% for Q1 2026 at Aon, up from 28.09% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 38.05% in Q1 2023 to a low of 16.74% in Q3 2024.
- Historically, Operating Margin has averaged 26.86% across 5 years, with a median of 26.31% in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Margin soared 5153 bps in 2022, then plunged 925 bps in 2023.
- A 5-year view of Operating Margin shows it stood at 32.33% in 2022, then declined by 29 bps to 23.08% in 2023, then gained by 14 bps to 26.31% in 2024, then rose by 7 bps to 28.09% in 2025, then grew by 21 bps to 34.07% in 2026.
- The last three Operating Margin figures came in at 34.07% (Q1 2026), 28.09% (Q4 2025), and 20.42% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marsh & Mclennan Companies | 79.42 Bn | 67.92 Bn | 5.88 Bn | 23.09% |
| 2 | Aon | 69.98 Bn | 68.59 Bn | - | 34.07% |
| 3 | Arthur J. Gallagher | 55.55 Bn | 54.17 Bn | - | - |
| 4 | Willis Towers Watson | 24.71 Bn | 22.93 Bn | 1.98 Bn | 18.96% |
| 5 | Brown & Brown | 19.80 Bn | 18.82 Bn | 1.61 Bn | 83.90% |
| 6 | XChange TEC.INC | 6.75 Bn | 6.75 Bn | - | - |
| 7 | Neptune Insurance Holdings | 4.00 Bn | 3.99 Bn | - | 35.56% |
| 8 | Corvel | 2.98 Bn | 2.64 Bn | 54.92 Mn | 13.68% |
| 9 | Accelerant Holdings | 2.93 Bn | 1.42 Bn | 48.00 Mn | 9.32% |
| 10 | Baldwin Insurance | 1.62 Bn | 2.07 Bn | - | -19.15% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 34.07% |
| Dec 31, 2025 | 28.09% |
| Sep 30, 2025 | 20.42% |
| Jun 30, 2025 | 20.67% |
| Mar 31, 2025 | 30.89% |
| Dec 31, 2024 | 26.31% |
| Sep 30, 2024 | 16.74% |
| Jun 30, 2024 | 17.45% |
| Mar 31, 2024 | 36.00% |
| Dec 31, 2023 | 23.08% |
| Sep 30, 2023 | 23.40% |
| Jun 30, 2023 | 26.50% |
| Mar 31, 2023 | 38.05% |
| Dec 31, 2022 | 32.33% |
| Sep 30, 2022 | 21.88% |
| Jun 30, 2022 | 23.47% |
| Mar 31, 2022 | 37.25% |
| Dec 31, 2021 | 31.62% |
| Sep 30, 2021 | -29.64% |
| Jun 30, 2021 | 23.28% |