AON vs. BRO

Last updated Apr 2, 2026

Compare and contrast key facts about Aon plc (AON) and Brown & Brown, Inc. (BRO).

Performance

AON vs. BRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aon plc (AON) and Brown & Brown, Inc. (BRO). The values are adjusted to include any dividend payments, if applicable.

AON vs. BRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AON Aon plc	-8.74%	-0.94%	24.45%	-2.31%	0.61%	43.39%	2.37%	44.68%	9.94%	21.49%
BRO Brown & Brown, Inc.	-19.01%	-21.37%	44.32%	25.73%	-18.39%	49.31%	21.06%	44.67%	8.30%	16.15%

Fundamentals

Market Cap AON : $69.57B BRO : $21.83B
EPS AON : $17.04 BRO : $3.28
PE Ratio AON : 18.86 BRO : 19.65
PEG Ratio AON : 0.48 BRO : 1.47
PS Ratio AON : 4.06 BRO : 3.50
PB Ratio AON : 7.44 BRO : 1.74
Total Revenue (TTM) AON : $17.18B BRO : $5.91B
Gross Profit (TTM) AON : $8.20B BRO : $3.52B
EBITDA (TTM) AON : $5.12B BRO : $2.05B

Returns By Period

In the year-to-date period, AON achieves a -8.74% return, which is significantly higher than BRO's -19.01% return. Over the past 10 years, AON has underperformed BRO with an annualized return of 12.91%, while BRO has yielded a comparatively higher 14.72% annualized return.

AON

• 1D: -0.45%
• 1M: -4.87%
• YTD: -8.74%
• 6M: -10.38%
• 1Y: -18.74%
• 3Y*: 1.46%
• 5Y*: 7.60%
• 10Y*: 12.91%

BRO

• 1D: -1.24%
• 1M: -11.00%
• YTD: -19.01%
• 6M: -30.27%
• 1Y: -47.73%
• 3Y*: 4.59%
• 5Y*: 7.45%
• 10Y*: 14.72%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

AON vs. BRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AON

AON Risk / Return Rank: 10
AON Sharpe Ratio Rank: 10
AON Sortino Ratio Rank: 12
AON Omega Ratio Rank: 12
AON Calmar Ratio Rank: 8
AON Martin Ratio Rank: 8

BRO

BRO Risk / Return Rank: 2
BRO Sharpe Ratio Rank: 0
BRO Sortino Ratio Rank: 1
BRO Omega Ratio Rank: 1
BRO Calmar Ratio Rank: 2
BRO Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AON vs. BRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aon plc (AON) and Brown & Brown, Inc. (BRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AON	BRO	Difference
Sharpe ratio Return per unit of total volatility	-0.74	-1.70	+0.96
Sortino ratio Return per unit of downside risk	-0.88	-2.49	+1.61
Omega ratio Gain probability vs. loss probability	0.88	0.66	+0.22
Calmar ratio Return relative to maximum drawdown	-0.87	-0.98	+0.11
Martin ratio Return relative to average drawdown	-1.55	-1.63	+0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AON vs. BRO - Sharpe Ratio Comparison

The current AON Sharpe Ratio is -0.74, which is higher than the BRO Sharpe Ratio of -1.70. The chart below compares the historical Sharpe Ratios of AON and BRO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AON	BRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.74	-1.70	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.31	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.63	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.52	-0.09

Correlation

The correlation between AON and BRO is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AON vs. BRO - Dividend Comparison

AON's dividend yield for the trailing twelve months is around 0.93%, less than BRO's 0.98% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AON Aon plc	0.93%	0.82%	0.74%	0.83%	0.73%	0.66%	0.84%	0.83%	1.35%	1.05%	1.16%	1.25%
BRO Brown & Brown, Inc.	0.98%	0.77%	0.53%	0.67%	0.74%	0.54%	0.73%	0.82%	1.11%	1.08%	1.12%	1.41%

Drawdowns

AON vs. BRO - Drawdown Comparison

The maximum AON drawdown since its inception was -69.05%, which is greater than BRO's maximum drawdown of -54.08%. Use the drawdown chart below to compare losses from any high point for AON and BRO.

Drawdown Indicators

	AON	BRO	Difference
Max Drawdown Largest peak-to-trough decline	-69.05%	-54.08%	-14.97%
Max Drawdown (1Y) Largest decline over 1 year	-21.06%	-48.65%	+27.59%
Max Drawdown (5Y) Largest decline over 5 years	-25.38%	-48.65%	+23.27%
Max Drawdown (10Y) Largest decline over 10 years	-38.73%	-48.65%	+9.92%
Current Drawdown Current decline from peak	-20.82%	-47.86%	+27.04%
Average Drawdown Average peak-to-trough decline	-13.64%	-13.32%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.12%	29.31%	-17.19%

Volatility

AON vs. BRO - Volatility Comparison

Aon plc (AON) and Brown & Brown, Inc. (BRO) have volatilities of 8.05% and 8.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AON	BRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.05%	8.04%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	18.23%	20.56%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	25.36%	28.08%	-2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	24.20%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.27%	23.34%	-0.07%

Financials

AON vs. BRO - Profitability Comparison

The chart below illustrates the profitability comparison between Aon plc and Brown & Brown, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AON - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Aon plc reported a gross profit of 2.18B and revenue of 4.30B. Therefore, the gross margin over that period was 50.8%.

BRO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Brown & Brown, Inc. reported a gross profit of 1.40B and revenue of 1.67B. Therefore, the gross margin over that period was 83.8%.

AON - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Aon plc reported an operating income of 1.21B and revenue of 4.30B, resulting in an operating margin of 28.1%.

BRO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Brown & Brown, Inc. reported an operating income of 429.00M and revenue of 1.67B, resulting in an operating margin of 25.7%.

AON - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Aon plc reported a net income of 1.69B and revenue of 4.30B, resulting in a net margin of 39.4%.

BRO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Brown & Brown, Inc. reported a net income of 264.00M and revenue of 1.67B, resulting in a net margin of 15.8%.