Arthur J. Gallagher vs Aon
Aon reported revenue of $17.2 billion in fiscal 2025, 1.2 times Arthur J. Gallagher's $13.9 billion in fiscal 2025. Arthur J. Gallagher's revenue grew 20.7% in its latest year, and Aon's grew 9.4%. Free cash flow was $1.8 billion at Arthur J. Gallagher and $3.2 billion at Aon.
Side by side
| Arthur J. Gallagher | Aon | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $13.9B | $17.2B |
| Revenue growth | 20.7% | 9.4% |
| Revenue growth a year, last 5 years | 14.8% | 9.2% |
| Gross margin | — | — |
| Operating margin | — | 25.3% |
| Net margin | 10.7% | 21.5% |
| Free cash flow | $1.8B | $3.2B |
| Free cash flow margin | 12.8% | 18.7% |
| Return on capital | 9.9% | 15.6% |
| Net debt to EBITDA | 3.3x | 2.8x |
| Dividends and buybacks | $667M | $1.6B |
| Change in diluted share count | 16.1% | 2.2% |
| Last close | $266.79 | $302.06 |
| P/E at the last close | 44.2× | 16.7× |
| Insider trades, last 12 months | bought $988,490, sold $24.5 million | bought $7.8 million, sold $7.8 million |
| Piotroski F-score | 3 of 8 | 4 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Arthur J. GallagherAon
Operating margin
Percent of revenue
Arthur J. GallagherAon
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Arthur J. GallagherAon
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Arthur J. Gallagher and Aon pages.