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AON
AONVerified2 segments tracked|4 years of data|Annual (10-K)
Total Revenue
$17.2B9.4%
FY2025
Operating Segments
2Active segments
Blended Margin
28.2%Operating margin
Highest Margin
30.4%Risk Capital Segment
Segment Shift
Risk Capital Segment has grown from 71.3% to 65.7% of total revenue since FY2022, with 30.4% operating margins. Meanwhile, Human Capital Segment is the fastest growing at +13.4% YoY.
Segment Revenue Over Time
Revenue Mix
Segment Breakdown — FY2025
| Segment | Revenue | Op. Income | Margin | % of Total | YoY |
|---|---|---|---|---|---|
| Risk Capital Segment | $11.3B | $3.4B | 30.4% | 65.7% | +7.4% |
| Human Capital Segment | $5.9B | $1.4B | 23.9% | 34.3% | +13.4% |
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