AON vs BRO
Aon PLC and Brown & Brown, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AON | BRO |
|---|---|---|
| Revenue | $17.2B | $5.9B |
| Net income | $3.7B | $1.1B |
| Gross margin | · | · |
| Net margin | 21.8% | 18.1% |
| Return on equity | 47.8% | 11.1% |
| Diluted EPS | $17.02 | $3.16 |
| Dividend / share | $2.91 | $0.62 |
| Payout ratio | 17.0% | 18.3% |
| Free cash flow | $3.2B | $1.4B |
| Equity | $9.4B | · |
| Net debt / equity | 1.50× | 0.52× |
| Current ratio | 1.11× | 1.04× |
| Revenue CAGR 5y | 9.2% | 17.7% |
| Profit CAGR 5y | 13.4% | 17.0% |
AON bills 2.9× the revenue of BRO, and keeps more of each dollar of revenue as profit (21.8% against 18.1%).
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 | AON | BRO |
|---|---|---|
| FY2025 | $17.2B | $5.9B |
| FY2024 | $15.7B | $4.8B |
| FY2023 | $13.4B | $4.3B |
| FY2022 | $12.5B | $3.6B |
| FY2021 | $12.2B | $3.1B |
| FY2020 | $11.1B | $2.6B |
| FY2019 | $11.0B | $2.4B |
| FY2018 | $10.8B | $2.0B |
| FY2017 | $10.0B | $1.9B |
| FY2016 | $9.4B | $1.8B |
Bottom line
| Fiscal year | AON | BRO |
|---|---|---|
| FY2025 | $3.7B | $1.1B |
| FY2024 | $2.7B | $993.0M |
| FY2023 | $2.6B | $871.0M |
| FY2022 | $2.6B | $672.0M |
| FY2021 | $1.3B | $587.1M |
| FY2020 | $2.0B | $480.5M |
| FY2019 | $1.5B | $398.5M |
| FY2018 | $1.2B | $344.3M |
| FY2017 | $1.3B | $399.6M |
| FY2016 | $1.4B | $257.5M |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$11,279,000,000 | AON |
| FY2024 | +$10,893,000,000 | AON |
| FY2023 | +$9,119,000,000 | AON |
| FY2022 | +$8,906,000,000 | AON |
| FY2021 | +$9,141,600,000 | AON |
| FY2020 | +$8,452,600,000 | AON |
| FY2019 | +$8,620,829,000 | AON |
| FY2018 | +$8,755,754,000 | AON |
| FY2017 | +$8,116,653,000 | AON |
| FY2016 | +$7,642,371,000 | AON |
| FY2015 | +$7,819,491,000 | AON |
| FY2014 | +$10,469,204,000 | AON |
| FY2013 | +$10,451,721,000 | AON |
| FY2012 | +$10,313,968,000 | AON |
| FY2011 | +$10,273,458,000 | AON |
| FY2010 | +$7,538,508,000 | AON |
| FY2009 | +$6,627,123,000 | AON |
| FY2008 | +$6,550,446,000 | AON |
AON has reported the higher revenue in every one of these 18 fiscal years. The gap has widened 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 | +3.7 pp | AON |
| FY2024 | −3.5 pp | BRO |
| FY2023 | −0.8 pp | BRO |
| FY2022 | +2.4 pp | AON |
| FY2021 | −8.5 pp | BRO |
| FY2020 | −0.1 pp | BRO |
| FY2019 | −2.4 pp | BRO |
| FY2018 | −6.2 pp | BRO |
| FY2017 | −8.6 pp | BRO |
| FY2016 | +0.6 pp | AON |
| FY2015 | +0.3 pp | AON |
| FY2014 | −1.2 pp | BRO |
| FY2013 | −6.2 pp | BRO |
| FY2012 | −6.5 pp | BRO |
| FY2011 | −7.2 pp | BRO |
| FY2010 | −8.0 pp | BRO |
| FY2009 | −5.4 pp | BRO |
| FY2008 | +2.6 pp | AON |
The higher net margin has changed hands between AON and BRO 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 BRO'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 AON and BRO over these 18 fiscal years — AON led in 5 and BRO in 13.
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 BRO's over the 15 comparable fiscal years — 15.1 percentage points of standard deviation against 1.6.
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 AON and BRO over these 15 fiscal years — AON led in 14 and BRO in 1.
15 of 19 comparable fiscal years — a year missing data on either side is not counted.