AJG vs AON
Arthur J. Gallagher & Co. and Aon PLC, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AJG | AON |
|---|---|---|
| Revenue | $13.9B | $17.2B |
| Net income | $1.5B | $3.7B |
| Gross margin | · | · |
| Net margin | 10.8% | 21.8% |
| Return on equity | 6.9% | 47.8% |
| Diluted EPS | $5.74 | $17.02 |
| Dividend / share | $2.60 | $2.91 |
| Payout ratio | 44.6% | 17.0% |
| Free cash flow | · | $3.2B |
| Equity | $23.3B | $9.4B |
| Net debt / equity | 0.49× | 1.50× |
| Current ratio | 1.06× | 1.11× |
| Revenue CAGR 5y | 14.8% | 9.2% |
| Profit CAGR 5y | 12.8% | 13.4% |
AON bills 1.2× the revenue of AJG, and keeps more of each dollar of revenue as profit (21.8% against 10.8%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | AJG | AON |
|---|---|---|
| FY2025 | $13.9B | $17.2B |
| FY2024 | $11.6B | $15.7B |
| FY2023 | $10.1B | $13.4B |
| FY2022 | $8.6B | $12.5B |
| FY2021 | $8.2B | $12.2B |
| FY2020 | $7.0B | $11.1B |
| FY2019 | $7.2B | $11.0B |
| FY2018 | $6.9B | $10.8B |
| FY2017 | $6.2B | $10.0B |
| FY2016 | $5.7B | $9.4B |
Bottom line
| Fiscal year | AJG | AON |
|---|---|---|
| FY2025 | $1.5B | $3.7B |
| FY2024 | $1.5B | $2.7B |
| FY2023 | $970.0M | $2.6B |
| FY2022 | $1.1B | $2.6B |
| FY2021 | $906.8M | $1.3B |
| FY2020 | $818.8M | $2.0B |
| FY2019 | $668.8M | $1.5B |
| FY2018 | $633.5M | $1.2B |
| FY2017 | $481.3M | $1.3B |
| FY2016 | $396.8M | $1.4B |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$3,239,000,000 | AON |
| FY2024 | −$4,143,000,000 | AON |
| FY2023 | −$3,304,000,000 | AON |
| FY2022 | −$3,928,400,000 | AON |
| FY2021 | −$3,983,600,000 | AON |
| FY2020 | −$4,062,400,000 | AON |
| FY2019 | −$3,818,000,000 | AON |
| FY2018 | −$3,836,000,000 | AON |
| FY2017 | −$3,749,000,000 | AON |
| FY2016 | −$3,728,500,000 | AON |
| FY2015 | −$4,087,600,000 | AON |
| FY2014 | −$7,418,500,000 | AON |
| FY2013 | −$8,635,400,000 | AON |
| FY2012 | −$8,993,700,000 | AON |
| FY2011 | −$9,152,300,000 | AON |
| FY2010 | −$6,647,800,000 | AON |
| FY2009 | −$5,865,700,000 | AON |
| FY2008 | −$5,883,000,000 | AON |
AON has reported the higher revenue in every one of these 18 fiscal years. The gap has narrowed since the earliest year compared.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −11.0 pp | AON |
| FY2024 | −4.6 pp | AON |
| FY2023 | −10.1 pp | AON |
| FY2022 | −8.2 pp | AON |
| FY2021 | +0.9 pp | AJG |
| FY2020 | −6.0 pp | AON |
| FY2019 | −4.3 pp | AON |
| FY2018 | −1.2 pp | AON |
| FY2017 | −4.4 pp | AON |
| FY2016 | −7.6 pp | AON |
| FY2015 | −7.8 pp | AON |
| FY2014 | −4.8 pp | AON |
| FY2013 | −0.8 pp | AON |
| FY2012 | −1.1 pp | AON |
| FY2011 | −2.2 pp | AON |
| FY2010 | +0.7 pp | AJG |
| FY2009 | −3.0 pp | AON |
| FY2008 | −14.9 pp | AON |
The higher net margin has changed hands between AJG and AON over this period.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
AON's net margin has been more volatile than AJG's over the 18 comparable fiscal years — 4.4 percentage points of standard deviation against 2.2.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between AJG and AON over these 18 fiscal years — AJG led in 2 and AON in 16.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
AON's return on equity has been more volatile than AJG's over the 15 comparable fiscal years — 15.1 percentage points of standard deviation against 2.5.
15 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between AJG and AON over these 15 fiscal years — AJG led in 3 and AON in 12.
15 of 19 comparable fiscal years — a year missing data on either side is not counted.