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Aon vs Erie Indemnity: revenue, profit, margins and growth compared

Aon brought in $17.2B of revenue in fiscal 2025, Erie Indemnity $4.1B in fiscal 2025. Revenue changed by +9.4% at Aon and +7.2% at Erie Indemnity on the year before, so Aon grew faster. Aon kept 21.5% of its revenue as net profit, Erie Indemnity 13.8%. Free cash flow was $3.2B at Aon and $571M at Erie Indemnity.

Side by side, latest fiscal year

AONERIE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17.2B$4.1B
Revenue growth+9.4%+7.2%
Net income$3.7B$559.3M
Net margin21.5%13.8%
Free cash flow$3.2B$571M
Free cash flow margin18.7%14.0%
Earnings per share (diluted)$17.02n/a
Cash$1.2B$345.9M
Debt$15.2Bn/a
Price to earnings16.3n/a
Market value$59B$10.3B
Dividend yield1.05%n/a
Rank by revenue in sector#37 of 444 · Finance#108 of 444 · Finance

Over the years

Revenue
AON FY2018: $10.8BAON FY2019: $11BAON FY2020: $11.1BAON FY2021: $12.2BAON FY2022: $12.5BAON FY2023: $13.4BAON FY2024: $15.7BAON FY2025: $17.2BERIE FY2018: $2.4BERIE FY2019: $2.5BERIE FY2020: $2.5BERIE FY2021: $2.6BERIE FY2022: $2.8BERIE FY2023: $3.3BERIE FY2024: $3.8BERIE FY2025: $4.1BFY18FY19FY20FY21FY22FY23FY24FY25
AON $17.2BERIE $4.1B
Net income
AON FY2018: $1.1BAON FY2019: $1.5BAON FY2020: $2BAON FY2021: $1.3BAON FY2022: $2.6BAON FY2023: $2.6BAON FY2024: $2.7BAON FY2025: $3.7BERIE FY2018: $288.2MERIE FY2019: $316.8MERIE FY2020: $293.3MERIE FY2021: $297.9MERIE FY2022: $298.6MERIE FY2023: $446.1MERIE FY2024: $600.3MERIE FY2025: $559.3MFY18FY19FY20FY21FY22FY23FY24FY25
AON $3.7BERIE $559.3M
Net margin
AON FY2018: 10.5%AON FY2019: 13.9%AON FY2020: 17.8%AON FY2021: 10.3%AON FY2022: 20.7%AON FY2023: 19.2%AON FY2024: 16.9%AON FY2025: 21.5%ERIE FY2018: 12.1%ERIE FY2019: 12.8%ERIE FY2020: 11.6%ERIE FY2021: 11.3%ERIE FY2022: 10.5%ERIE FY2023: 13.6%ERIE FY2024: 15.8%ERIE FY2025: 13.8%FY18FY19FY20FY21FY22FY23FY24FY25
AON 21.5%ERIE 13.8%
Revenue growth
AON FY2019: +2.3%AON FY2020: +0.5%AON FY2021: +10.2%AON FY2022: +2.3%AON FY2023: +7.2%AON FY2024: +17.4%AON FY2025: +9.4%ERIE FY2019: +4.0%ERIE FY2020: +2.4%ERIE FY2021: +3.8%ERIE FY2022: +7.8%ERIE FY2023: +15.1%ERIE FY2024: +16.1%ERIE FY2025: +7.2%FY19FY20FY21FY22FY23FY24FY25
AON +9.4%ERIE +7.2%
Free cash flow
AON FY2018: $1.4BAON FY2019: $1.6BAON FY2020: $2.6BAON FY2021: $2BAON FY2022: $3BAON FY2023: $3.2BAON FY2024: $2.8BAON FY2025: $3.2BERIE FY2018: $207.3MERIE FY2019: $262.5MERIE FY2020: $287.1MERIE FY2021: $254MERIE FY2022: $298.9MERIE FY2023: $288.6MERIE FY2024: $486.4MERIE FY2025: $571MFY18FY19FY20FY21FY22FY23FY24FY25
AON $3.2BERIE $571M

Fiscal years as each company reports them; the two may end in different months.

Questions about Aon and Erie Indemnity

Which is bigger by revenue, Aon or Erie Indemnity?

Aon is bigger by revenue: $17.2B in fiscal 2025, against $4.1B for Erie Indemnity in fiscal 2025.

Which keeps more of its revenue as profit, Aon or Erie Indemnity?

Aon had a net margin of 21.5% in fiscal 2025; Erie Indemnity had 13.8% in fiscal 2025.

Which grew revenue faster, Aon or Erie Indemnity?

In their latest fiscal years revenue changed by +9.4% at Aon and +7.2% at Erie Indemnity.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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