AON vs RYAN
Aon PLC and Ryan Specialty Holdings, Inc., side by side — 7 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AON | RYAN |
|---|---|---|
| Revenue | $17.2B | $3.1B |
| Net income | $3.7B | $63.4M |
| Gross margin | · | · |
| Net margin | 21.8% | 7.0% |
| Return on equity | 47.8% | 9.9% |
| Diluted EPS | $17.02 | · |
| Dividend / share | $2.91 | · |
| Payout ratio | 17.0% | 98.3% |
| Free cash flow | $3.2B | $640.7M |
| Equity | $9.4B | $648.1M |
| Net debt / equity | 1.50× | 4.93× |
| Current ratio | 1.11× | 0.98× |
| Revenue CAGR 5y | 9.2% | 24.5% |
| Profit CAGR 5y | 13.4% | −1.4% |
AON bills 5.6× the revenue of RYAN, and keeps more of each dollar of revenue as profit (21.8% against 7.0%).
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.
7 years side by side
| Fiscal year | AON | RYAN |
|---|---|---|
| FY2025 | $17.2B | $3.1B |
| FY2024 | $15.7B | $2.5B |
| FY2023 | $13.4B | $2.1B |
| FY2022 | $12.5B | $1.7B |
| FY2021 | $12.2B | $1.4B |
| FY2020 | $11.1B | $1.0B |
| FY2019 | $11.0B | $765.1M |
Bottom line
| Fiscal year | AON | RYAN |
|---|---|---|
| FY2025 | $3.7B | $63.4M |
| FY2024 | $2.7B | $94.7M |
| FY2023 | $2.6B | $61.0M |
| FY2022 | $2.6B | $61.1M |
| FY2021 | $1.3B | $65.9M |
| FY2020 | $2.0B | $68.1M |
| FY2019 | $1.5B | $64.2M |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$14,129,874,000 | AON |
| FY2024 | +$13,182,290,000 | AON |
| FY2023 | +$11,298,451,000 | AON |
| FY2022 | +$10,753,807,000 | AON |
| FY2021 | +$10,760,229,000 | AON |
| FY2020 | +$10,047,726,000 | AON |
| FY2019 | +$10,247,889,000 | AON |
AON has reported the higher revenue in every one of these 7 fiscal years. The gap has widened since the earliest year compared.
7 of 19 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +14.8 pp | AON |
| FY2024 | +8.2 pp | AON |
| FY2023 | +10.3 pp | AON |
| FY2022 | +11.7 pp | AON |
| FY2021 | +6.8 pp | AON |
| FY2020 | +11.3 pp | AON |
| FY2019 | +6.0 pp | AON |
AON has kept the higher net margin in every one of these 7 fiscal years.
7 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 RYAN's over the 7 comparable fiscal years — 3.7 percentage points of standard deviation against 1.8.
7 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
AON led in net margin in every one of the 7 comparable fiscal years — a structural lead, not a recent swing.
7 of 19 comparable fiscal years — a year missing data on either side is not counted.