Aon Cash Flow Statement
NYSE: AONFinanceSpecialty InsurersUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Aon free cash flow
In fiscal 2025, Aon generated $3.48 billion of operating cash flow and spent $263.0 million on capital expenditures. That left free cash flow of $3.22 billion, a free-cash-flow margin of 18.7% of revenue. Free cash flow was up 14.2% from the prior year's $2.82 billion.
Aon returned $1.63 billion to shareholders: $629.0 million in dividends and $1.00 billion in share repurchases, equal to 51% of free cash flow. Free cash flow covered dividend payments 5.1 times.
Summary generated from market data by MetaCap's automated system. Methodology
Aon cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 3.75B | 2.72B | 2.63B | 2.65B | 1.31B | 2.02B | 1.57B | 1.17B | 1.26B | 1.43B |
| Net Income growth (YoY) | +37.87% | +3.50% | -0.68% | +102.29% | -35.18% | +28.29% | +33.99% | -7.05% | -11.68% | +0.56% |
| Depreciation & Amortization | 188.00M | 183.00M | 167.00M | 151.00M | 179.00M | 167.00M | 172.00M | 176.00M | 187.00M | 162.00M |
| Stock-Based Compensation | 432.00M | 474.00M | 438.00M | 397.00M | 449.00M | 312.00M | 317.00M | 338.00M | 319.00M | 306.00M |
| Change in Working Capital | -412.00M | 81.00M | -175.00M | -118.00M | 145.00M | 294.00M | -399.00M | -102.00M | -158.00M | -52.00M |
| Operating Cash Flow | 3.48B | 3.04B | 3.44B | 3.22B | 2.18B | 2.78B | 1.83B | 1.69B | 734.00M | 2.33B |
| Capital Expenditures | -263.00M | -218.00M | -252.00M | -196.00M | -137.00M | -141.00M | -225.00M | -240.00M | -183.00M | -156.00M |
| Investing Cash Flow | 286.00M | -2.83B | -188.00M | -449.00M | 49.00M | -679.00M | -229.00M | 31.00M | 2.79B | -954.00M |
| Dividends Paid | -629.00M | -562.00M | -489.00M | -463.00M | -447.00M | -412.00M | -410.00M | -382.00M | -364.00M | -345.00M |
| Share Repurchases | -1.00B | -1.00B | -2.70B | -3.20B | -3.54B | -1.76B | -1.96B | -1.47B | -2.40B | -1.26B |
| Debt Issued | 0 | 7.93B | 744.00M | 1.97B | 1.50B | 991.00M | 6.05B | 5.75B | 1.65B | 3.47B |
| Debt Repaid | -1.85B | -4.93B | -350.00M | -500.00M | -413.00M | -607.00M | -4.94B | -5.42B | -2.00B | -2.94B |
| Financing Cash Flow | -4.21B | 796.00M | -2.87B | -1.79B | -1.92B | -1.77B | -247.00M | -1.70B | -3.27B | -1.29B |
| Net Change in Cash | 240.00M | 611.00M | 646.00M | 431.00M | 72.00M | 629.00M | 1.42B | -100.00M | 325.00M | 47.00M |
| Free Cash Flow | 3.22B | 2.82B | 3.18B | 3.02B | 2.04B | 2.64B | 1.61B | 1.45B | 551.00M | 2.17B |
This table shows 10 annual periods of Aon's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow AON's reporting calendar. What is a cash flow statement?