AON vs. PGR

Last updated Apr 2, 2026

Compare and contrast key facts about Aon plc (AON) and The Progressive Corporation (PGR).

Performance

AON vs. PGR - Performance Comparison

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

AON vs. PGR - 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%
PGR The Progressive Corporation	-9.70%	-3.02%	51.39%	23.16%	26.81%	10.84%	41.48%	25.14%	9.39%	61.59%

Fundamentals

Market Cap AON : $69.57B PGR : $113.73B
EPS AON : $17.04 PGR : $17.28
PE Ratio AON : 18.86 PGR : 11.19
PEG Ratio AON : 0.48 PGR : 0.09
PS Ratio AON : 4.06 PGR : 1.42
PB Ratio AON : 7.44 PGR : 27.47
Total Revenue (TTM) AON : $17.18B PGR : $79.91B
Gross Profit (TTM) AON : $8.20B PGR : $24.59B
EBITDA (TTM) AON : $5.12B PGR : $13.09B

Returns By Period

In the year-to-date period, AON achieves a -8.74% return, which is significantly higher than PGR's -9.70% return. Over the past 10 years, AON has underperformed PGR with an annualized return of 12.91%, while PGR has yielded a comparatively higher 21.80% 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%

PGR

• 1D: -2.46%
• 1M: -9.40%
• YTD: -9.70%
• 6M: -16.53%
• 1Y: -27.58%
• 3Y*: 13.94%
• 5Y*: 17.76%
• 10Y*: 21.80%

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

Return for Risk

AON vs. PGR — 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

PGR

PGR Risk / Return Rank: 6
PGR Sharpe Ratio Rank: 3
PGR Sortino Ratio Rank: 6
PGR Omega Ratio Rank: 6
PGR Calmar Ratio Rank: 6
PGR Martin Ratio Rank: 9

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. PGR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aon plc (AON) and The Progressive Corporation (PGR). 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	PGR	Difference
Sharpe ratio Return per unit of total volatility	-0.74	-1.11	+0.36
Sortino ratio Return per unit of downside risk	-0.88	-1.45	+0.58
Omega ratio Gain probability vs. loss probability	0.88	0.82	+0.07
Calmar ratio Return relative to maximum drawdown	-0.87	-0.93	+0.06
Martin ratio Return relative to average drawdown	-1.55	-1.50	-0.05
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. PGR - Sharpe Ratio Comparison

The current AON Sharpe Ratio is -0.74, which is higher than the PGR Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of AON and PGR, 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	PGR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.74	-1.11	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.73	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.90	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.58	-0.15

Correlation

The correlation between AON and PGR is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

AON vs. PGR - Dividend Comparison

AON's dividend yield for the trailing twelve months is around 0.93%, less than PGR's 7.19% 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%
PGR The Progressive Corporation	7.19%	2.15%	0.48%	0.25%	0.31%	6.23%	2.68%	3.89%	1.86%	1.21%	2.50%	2.16%

Drawdowns

AON vs. PGR - Drawdown Comparison

The maximum AON drawdown since its inception was -69.05%, roughly equal to the maximum PGR drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for AON and PGR.

Drawdown Indicators

	AON	PGR	Difference
Max Drawdown Largest peak-to-trough decline	-69.05%	-71.06%	+2.01%
Max Drawdown (1Y) Largest decline over 1 year	-21.06%	-29.40%	+8.34%
Max Drawdown (5Y) Largest decline over 5 years	-25.38%	-29.97%	+4.59%
Max Drawdown (10Y) Largest decline over 10 years	-38.73%	-29.97%	-8.76%
Current Drawdown Current decline from peak	-20.82%	-29.31%	+8.49%
Average Drawdown Average peak-to-trough decline	-13.64%	-14.47%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.12%	18.11%	-5.99%

Volatility

AON vs. PGR - Volatility Comparison

Aon plc (AON) has a higher volatility of 8.05% compared to The Progressive Corporation (PGR) at 5.99%. This indicates that AON's price experiences larger fluctuations and is considered to be riskier than PGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AON	PGR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.05%	5.99%	+2.06%
Volatility (6M) Calculated over the trailing 6-month period	18.23%	17.12%	+1.11%
Volatility (1Y) Calculated over the trailing 1-year period	25.36%	25.03%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	24.50%	-1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.27%	24.36%	-1.09%

Financials

AON vs. PGR - Profitability Comparison

The chart below illustrates the profitability comparison between Aon plc and The Progressive Corporation 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%.

PGR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, The Progressive Corporation reported a gross profit of 8.02B and revenue of 15.00B. Therefore, the gross margin over that period was 53.5%.

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%.

PGR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, The Progressive Corporation reported an operating income of 2.29B and revenue of 15.00B, resulting in an operating margin of 15.3%.

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%.

PGR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, The Progressive Corporation reported a net income of 1.80B and revenue of 15.00B, resulting in a net margin of 12.0%.