AON vs MRSH
Aon PLC and Marsh & Mclennan Companies, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AON | MRSH |
|---|---|---|
| Revenue | $17.2B | $27.0B |
| Net income | $3.7B | $4.2B |
| Gross margin | · | · |
| Net margin | 21.8% | 15.7% |
| Return on equity | 47.8% | 28.8% |
| Diluted EPS | $17.02 | $8.43 |
| Dividend / share | $2.91 | $3.43 |
| Payout ratio | 17.0% | 40.8% |
| Free cash flow | $3.2B | $5.0B |
| Equity | $9.4B | · |
| Net debt / equity | 1.50× | 1.10× |
| Current ratio | 1.11× | 1.10× |
| Revenue CAGR 5y | 9.2% | 9.4% |
| Profit CAGR 5y | 13.4% | 15.6% |
MRSH bills 1.6× the revenue of AON, and AON keeps more of each dollar of revenue as profit (21.8% against 15.7%).
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 | MRSH |
|---|---|---|
| FY2025 | $17.2B | $27.0B |
| FY2024 | $15.7B | $24.5B |
| FY2023 | $13.4B | $22.7B |
| FY2022 | $12.5B | $20.7B |
| FY2021 | $12.2B | $19.8B |
| FY2020 | $11.1B | $17.2B |
| FY2019 | $11.0B | $16.7B |
| FY2018 | $10.8B | $14.9B |
| FY2017 | $10.0B | $14.0B |
| FY2016 | $9.4B | $13.2B |
Bottom line
| Fiscal year | AON | MRSH |
|---|---|---|
| FY2025 | $3.7B | $4.2B |
| FY2024 | $2.7B | $4.1B |
| FY2023 | $2.6B | $3.8B |
| FY2022 | $2.6B | $3.0B |
| FY2021 | $1.3B | $3.1B |
| FY2020 | $2.0B | $2.0B |
| FY2019 | $1.5B | $1.7B |
| FY2018 | $1.2B | $1.6B |
| FY2017 | $1.3B | $1.5B |
| FY2016 | $1.4B | $1.8B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$9,800,000,000 | MRSH |
| FY2024 | −$8,760,000,000 | MRSH |
| FY2023 | −$9,360,000,000 | MRSH |
| FY2022 | −$8,241,000,000 | MRSH |
| FY2021 | −$7,627,000,000 | MRSH |
| FY2020 | −$6,158,000,000 | MRSH |
| FY2019 | −$5,639,000,000 | MRSH |
| FY2018 | −$4,180,000,000 | MRSH |
| FY2017 | −$4,026,000,000 | MRSH |
| FY2016 | −$3,802,000,000 | MRSH |
| FY2015 | −$3,413,000,000 | MRSH |
| FY2014 | −$906,000,000 | MRSH |
| FY2013 | −$446,000,000 | MRSH |
| FY2012 | −$410,000,000 | MRSH |
| FY2011 | −$239,000,000 | MRSH |
| FY2010 | −$2,038,000,000 | MRSH |
| FY2009 | −$2,236,000,000 | MRSH |
| FY2008 | −$3,202,000,000 | MRSH |
| FY2007 | −$3,901,000,000 | MRSH |
MRSH has reported the higher revenue in every one of these 19 fiscal years. The gap has widened since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +6.1 pp | AON |
| FY2024 | +0.5 pp | AON |
| FY2023 | +2.9 pp | AON |
| FY2022 | +6.3 pp | AON |
| FY2021 | −5.3 pp | MRSH |
| FY2020 | +6.4 pp | AON |
| FY2019 | +3.6 pp | AON |
| FY2018 | −0.3 pp | MRSH |
| FY2017 | +1.9 pp | AON |
| FY2016 | +1.6 pp | AON |
| FY2015 | +2.3 pp | AON |
| FY2014 | +0.3 pp | AON |
| FY2013 | −1.6 pp | MRSH |
| FY2012 | −1.2 pp | MRSH |
| FY2011 | +0.1 pp | AON |
| FY2010 | +0.3 pp | AON |
| FY2009 | +8.0 pp | AON |
| FY2008 | +20.2 pp | AON |
| FY2007 | −10.2 pp | MRSH |
The higher net margin has changed hands between AON and MRSH over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MRSH's net margin has been more volatile than AON's over the 19 comparable fiscal years — 5.0 percentage points of standard deviation against 4.3.
19 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 MRSH over these 19 fiscal years — AON led in 14 and MRSH in 5.
19 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 MRSH's over the 16 comparable fiscal years — 15.0 percentage points of standard deviation against 8.6.
16 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 MRSH over these 16 fiscal years — AON led in 9 and MRSH in 7.
16 of 19 comparable fiscal years — a year missing data on either side is not counted.