Stock fact sheet · data as of
Aon plc (AON): fair value, margin of safety and Wheel Score
Ticker symbol AON · Financial Services · Insurance - Brokers · Ireland · Class A ordinary shares · Growth
AON is Aon plc's Class A ordinary shares. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is AON undervalued?
AON closed at 344.67 on 5 Nov 2026, 17% below the GLS average fair value of 413.95 from 9 models (5 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" Wheel Trade Filter, with room for a bigger discount on the Value part.
The 9 models disagree widely: DDM gives 47.16 while GLS Growth gives 1,133.86. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, AON is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 33, growth score 72, out of 100).
Nine valuation models for AON
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 376.64 | +9% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 140.81 | -59% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 576.99 | +67% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 216.34 | -37% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 1,133.86 | +229% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 418.77 | +21% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 609.17 | +77% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 47.16 | -86% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 205.79 | -40% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -72.88 | -121% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 361.30 | +5% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - AON passes 6 of the nine Piotroski tests, which passes the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 9.3 out of 10 - high returns on capital, steady margins and growth that held up through bad years point to a durable business.
Returns on capital are high - ROIC 14.3%, ROE 39.5%, ROA 7.3% - with debt at 1.77 times equity and a free-cash-flow yield of 4.5%.
The dividend yield is 0.93% with a payout ratio of 17% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Risk Capital 65%, Human Capital 35% (quarter Q3 FY2026).
Institutional ownership scores 10/10, insider activity 7/10 and Congressional trading 1/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 14.3% |
|---|---|---|---|
| GLS Moat | 9.3 / 10 | ROE | 39.5% |
| Debt / equity | 1.77 | ROA | 7.3% |
| Free-cash-flow yield | 4.5% | Payout ratio | 17% |
| Institutions | 10 / 10 | Insiders · Congress | 7 · 1 / 10 |
Wheel Score 71: Good
AON scores 71 out of 100 on the Wheel Score (Good band, 70-84): it passes all 9 Wheel Trade Filters. How it ranks: value fair, premium fair, moat strong, health good, red flags weak, option trading weak, stability strong; Red Flags (weak) holds it back.
Implied volatility is 27% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is 9,300 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.7M shares a day on a market cap of $73.1B, with a beta of 0.62 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that strong.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Fair | 17% below fair value | |
| Premium | Fair | implied volatility 27% | |
| Moat | Strong | moat 9.3/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Weak | Red Flags score 65/100 | |
| Option trading | Weak | 588 contracts a day, 9,300 open interest | |
| Stability | Strong | beta 0.62, $73.1B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 29 Jan 2027, 85 days away - outside the window of a 30-45-day put sold today.
Analysts upgraded AON 2 times in the last 30 days with no downgrades; the latest action was an upgrade by BMO Capital on 3 Nov 2026.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Insurance - Brokers
The 12 companies below are the closest to Aon plc by market cap within the Insurance - Brokers industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| AJG Arthur J. Gallagher & Co. | 288.38 | 160.65 | -80% | 43Weak | $73.9B |
| MRSH Marsh & McLennan Companies, Inc. | 210.38 | 158.89 | -32% | 41Weak | $100.4B |
| WTW Willis Towers Watson Public Limited Company | 337.37 | 382.34 | +12% | 36Weak | $31.1B |
| BRO Brown & Brown, Inc. | 73.89 | 90.70 | +19% | 80Good | $24.5B |
| RYAN Ryan Specialty Holdings, Inc. | 47.54 | 38.59 | -23% | 39Weak | $5.8B |
| CRVL CorVel Corporation | 87.38 | 66.84 | -31% | 41Weak | $4.4B |
| NP Neptune Insurance Holdings Inc. | 28.55 | 13.69 | -109% | 36Weak | $2.7B |
| BWIN The Baldwin Insurance Group, Inc. | 32.14 | 27.30 | -18% | 11Weak | $2.6B |
| LIFE Ethos Technologies Inc. | 37.13 | 20.58 | -80% | 30Weak | $2.4B |
| GSHD Goosehead Insurance, Inc | 56.35 | 64.68 | +13% | 37Weak | $2.0B |
| TWFG TWFG, Inc. Common Stock | 29.58 | 44.50 | +34% | 33No options | $381M |
| WDH Waterdrop Inc. | 1.01 | 45.70 | +98% | 33No options | $365M |
⚖ Compare AON with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about AON
What kind of share is AON?
AON is Aon plc's Class A ordinary shares. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is AON undervalued right now?
By the GLS models, moderately: at 344.67 the stock trades 17% below the average fair value of 413.95 (data as of 5 Nov 2026).
What is the Wheel Score of AON and what does it mean?
AON scores 71 out of 100 (Good). The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for AON?
413.95 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Aon plc report earnings next?
The next earnings report is due on 29 Jan 2027, 85 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does AON have listed options, and how liquid are they?
Yes. The nightly snapshot found 162 listed contracts with 9,300 open interest across all expiries and implied volatility of 27% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.