AON (AON) Financials

The data below pulls from Aon plc's quarterly statements over the last four years, focusing on the latest four quarters (2025 Q1–Q4) and key four-year trends in cash flow, income, and the balance sheet. The goal is to give retail investors a concise view of how the business has evolved and what the near-term cash and earnings dynamics look like.

• Q4 2025 net income to common shareholders was $1.693B, with diluted earnings per share of $7.82. This marks a strong quarterly bottom-line contribution and indicates robust profitability for the period.
• Q4 2025 net cash from continuing operating activities was $1.397B, suggesting solid operating cash generation to support investments, debt service, and shareholder returns.
• Total Non-Interest Income in Q4 2025 was $4.303B, contributing to a higher-quality revenue mix beyond net interest, which supports earnings resilience.
• Total assets expanded to about $51.6B as of 2025-Q3, up from about $33.96B in 2023-Q4, reflecting meaningful balance-sheet growth and an enlarged asset base.
• Separate Account Business Assets reached about $18.78B in 2025-Q3, indicating a substantial and growing portion of the asset base tied to account-specific vehicles, which can contribute to revenue stability.
• Long-term debt remained in the roughly $15–16B range across the period, a sizeable but manageable level given the large asset base and diversified income streams.
• Quarterly revenue fluctuates in the $3.5–4.5B range, with Q1 2025 and Q4 2025 at higher levels than some other quarters, implying seasonality or one-off effects in quarterly tops and troughs rather than a straight line growth path.
• Net change in cash and equivalents in Q4 2025 was negative at -$0.947B, highlighting the impact of investing and financing activities on cash, despite strong earnings.
• Net cash from financing activities in Q4 2025 was -$3.064B, driven by debt repayments, share repurchases, and dividends, which reduces cash despite positive earnings.
• Q4 2025 restructuring charge of $129M adds a one-time expense that weighed on the quarterly non-operating expense line and cash flow in the period.

Overall, Aon appears to be delivering solid quarterly profitability in late 2025, with robust operating cash flow and a growing asset base. However, the company also shows sizable financing and investing outflows in the quarter, which constrains near-term cash balance growth. The balance sheet continues to show a large, diversified asset base, including significant Separate Account assets, which supports a resilient longer-term capital framework.