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Aon (AON) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Aon (AON) Q3 2026 earnings results →
Q3 2026 Revenue up 3% year over year to $4.1B · 12¢ of every $1 of revenue kept as net profit · operating margin 19.7%
Aon made $4.1B in Q3 2026 (+3% Y/Y). Operating margin 19.7%, net earnings $476M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $4.1B in Q3 2026, up 3% year over year and down 3% from the previous quarter.
Operating profit was $0.81B, a 19.7% margin (down 0.7 points year over year). Operating profit fell $0.01B even though revenue rose $0.10B versus Q3 2025, so costs grew faster than sales. Total costs grew 3% against revenue growth of 3%. Net earnings were $0.48B, up 4% year over year. The effective tax rate was 20.6%.
Operating cash flow was $1.2B (up 4% year over year), 245% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and $0.10B of share-based compensation. Working capital and other items added $0.55B. After capital Expenditures ($0.09B), free cash flow as the company reports it was $1.1B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 28, 2026 | $4.1B | +3% | 19.7% | $476M | $1.2B |
| Q2 2026 | 10-Q | Jul 29, 2026 | $4.2B | +2% | 21.5% | $551M | $556M |
| Q1 2026 | 10-Q | May 1, 2026 | $5.0B | +6% | 34.1% | $1.2B | $430M |
| Q4 2025 | 10-K | Feb 13, 2026 | $4.3B | +4% | 28.1% | $1.7B | $1.4B |
| Q3 2025 | 10-Q | Oct 31, 2025 | $4.0B | +7% | 20.4% | $458M | $1.1B |
| Q2 2025 | 10-Q | Jul 25, 2025 | $4.2B | +10% | 20.7% | $579M | $796M |
| Q1 2025 | 10-Q | Apr 25, 2025 | $4.7B | +16% | 30.9% | $965M | $140M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Aon
Aon plc (which may be referred to as “Aon,” the “Company,” “we,” “us,” or “our”) is a leading global professional services firm. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise and locally relevant solutions, our colleagues provide clients with the clarity and confidence to make better risk and people decisions that protect and grow their businesses. With clients around the world facing growing uncertainty and volatility, we remain focused on accelerating our Aon United strategy to serve clients as one globally connected firm and driving innovation to address unmet and evolving client need. We serve clients in more than 120 countries across all market segments and nearly every industry.
In its own words, from its 10-K, filed Feb 13, 2026.
Aon against its Insurance Agents, Brokers & Service peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +8%. Operating margin: 19.7% against the peers' median 17.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| AON Aon | Q3 2026 | $4.1B | +3% | 19.7% |
| MRSH Marsh & McLennan Companies | Q3 2026 | $6.9B | +8% | 17.7% |
| AJG Arthur J. Gallagher | Q3 2026 | $4.0B | +18% | 13.0% |
| EQH Equitable Holdings | Q3 2026 | $3.9B | +168% | 35.8% |
| WTW Willis Towers Watson | Q3 2026 | $2.5B | +8% | 17.4% |
| BRO Brown & Brown | Q3 FY27 | $1.7B | +7% | 18.6% |
| ERIE Erie Indemnity | Q3 2026 | $1.1B | +0.3% | 19.4% |
| RYAN Ryan Specialty Holdings | Q3 2026 | $790M | +5% | 17.8% |
| BWIN Baldwin Insurance Group | Q2 2026 | $493M | +30% | -1.7% |
Source: Aon 10-Q on SEC EDGAR · CIK 315293 · Insurance Agents, Brokers & Service
More on AON
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results