Aon (AON) Operating Margin (2009 - 2026)
Aon's (AON) quarterly Operating Margin came in at 34.07% in Q1 2026, up 317.0% year-on-year from 8.17% in Q1 2025, and up 21.27% quarter-over-quarter from 28.09% in Q4 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.
- On a quarterly basis, Operating Margin rose 317.0% year-over-year to 34.07% in Q1 2026; TTM through Mar 2026 was 26.3%, a 287.0% increase from a year earlier, with the FY2025 full-year figure at 25.28%, up 85.0% from the prior year.
- Operating Margin advanced to 34.07% in Q1 2026 per AON's latest filing, from 28.09% in the prior quarter.
- Across five years, Operating Margin topped out at 38.05% in Q1 2023 and bottomed at 16.74% in Q3 2024.
- The 5-year median for Operating Margin is 26.31% (2024), against an average of 26.86%.
- Across the five-year window, Operating Margin surged 5153 bps in 2022 and plunged 925 bps in 2023, its largest moves.
- Year by year, Operating Margin 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.
- Per Business Quant, the three latest AON Operating Margin figures stand at 34.07% (Q1 2026), 28.09% (Q4 2025), and 20.42% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | XChange TEC.INC | 120,003.58 Bn | 120,003.57 Bn | - | - |
| 2 | Marsh & Mclennan Companies | 88.36 Bn | 76.16 Bn | 6.04 Bn | 25.65% |
| 3 | Aon | 78.96 Bn | 77.54 Bn | - | 34.07% |
| 4 | Arthur J. Gallagher | 65.33 Bn | 63.92 Bn | - | - |
| 5 | Willis Towers Watson | 28.66 Bn | 26.81 Bn | 1.98 Bn | 18.96% |
| 6 | Brown & Brown | 23.36 Bn | 22.36 Bn | 1.61 Bn | 12.84% |
| 7 | Neptune Insurance Holdings | 4.18 Bn | 4.17 Bn | 26.44 Mn | 35.56% |
| 8 | Accelerant Holdings | 3.25 Bn | 1.72 Bn | 48.00 Mn | 9.32% |
| 9 | Corvel | 3.11 Bn | 2.77 Bn | 54.92 Mn | 13.68% |
| 10 | Baldwin Insurance | 2.50 Bn | 2.35 Bn | - | -3,001.36% |
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% |