Short answer
Aon plc (AON) filed its fiscal 2025 10-K annual report with the SEC on Feb 13, 2026. It reported revenue of $17.2B (+9.4% year over year) and net income of $3.7B.
- Top risk flagged: Oversight of cybersecurity risks by Audit Committee includes risks from artificial intelligence use and regular CISO reporting
FY2025 key financial metrics · XBRL
- Revenue
- $17.2B
- +9.4% YoY
- Net income
- $3.7B
- +39.2% YoY
- Operating margin
- 25.3%
- +0.9 pp YoY
- EPS (diluted)
- $17.02
- +36.3% YoY
- ROE
- 39.5%
- −3.8 pp YoY
- Operating cash flow
- $3.5B
- +14.7% YoY
Source: XBRL data from the Aon plc (AON) FY2025 10-K on SEC EDGAR. USD.
Aon plc FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: global professional services firm providing risk, retirement, and health solutions through brokerage and consulting
- New emphasis on AI innovation, including generative AI tools with governance to manage operational, legal, and reputational risks
- Strategic shift focusing on proprietary data and analytics tools, notably in insurance/reinsurance placement, to differentiate offerings
- 51.8% of consolidated revenue generated outside U.S., exposing business to currency exchange risks impacting financial results
- Total consolidated debt approx. $15.2 billion as of Dec 31, 2025, heightening financial leverage and impacting operational flexibility
Management Discussion & Analysis
- Revenue $17.2B, up $1.5B (9%) YoY; Risk Capital $11.3B (+7%), Human Capital $5.9B (+13%)
- Operating margin 25.3% vs 24.4% YoY; Risk Capital margin down 30.4% vs 31.3%; Human Capital margin up 23.9% vs 21.9%
- Best performing segment: Human Capital operating income +23% to $1.4B; Worst performing: Risk Capital margin decline despite +4% income growth to $3.4B
- Operating cash flow $3.5B, up $446M (15%); Free cash flow $3.2B, up $401M (14%); Capex increased $45M; NFP acquisition-related expenses and $1.2B gain on NFP Wealth sale
- Management notes uncertainties from global minimum tax (OECD Pillar Two) and ongoing integration of NFP; 2026 risks include tax regime changes and market conditions
Risk Factors
- Oversight of cybersecurity risks by Audit Committee includes risks from artificial intelligence use and regular CISO reporting
- Exposure to evolving cybersecurity threats despite risk-based safeguards aligned with NIST Cybersecurity Framework
- Third-party risk governance program requires supplier compliance with Aon’s data security mandates and periodic contract reviews
- Reliance on external service providers to assess and assist with security processes introduces potential operational vulnerabilities
- Cybersecurity insurance in place but may not cover all losses from breaches or data privacy events
Generated from the filing text; verify against the original. How to read a 10-K
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