Buyback yield (TTM)
2.26%
Shareholder yield (TTM)
3.18%
5Y share count change
-7.1%
Buyback spend (TTM)
$1.6B
Cumulative buybacks
$31.9B
Key takeaways
- Aon (AON) repurchased about $1.6B of stock over the trailing twelve months.
- Diluted share count is down 7.1% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 5.16× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at -10.7% per year over the latest 5-year window.
- TTM repurchases used about 62% of free cash flow remaining after dividends.
Dividend & buyback yield over time for Aon (AON)
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Diluted vs basic shares (annual) for Aon (AON)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Aon (AON)
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Cash buyback spend over time for Aon (AON)
Latest: $1B
Overview
Aon (AON) most recent annual buyback spend stands at $1B (2025) – edged up 0.0% year-over-year.
Through 2020–2025 (5 years), Aon buyback spend delivered a -10.7% annualised rate; with a net decline across the window.
Between 2021 and 2025, Aon buyback spend plunged 71.8%, falling from $3.54B to $1B.
$3.54B stands as the all-time-high annual buyback spend, posted in 2021, against a low of $0.00 during 2001.
Aon Buyback Spend 2025: $1B
2025's buyback spend for Aon came in at $1B, edged up 0.0% from 2024.
Aon Buyback Spend 2024: $1B
Aon posted buyback spend of $1B in 2024, plunged 63.0% below 2023.
Aon Buyback Spend 2023: $2.7B
In 2023, Aon reported buyback spend of $2.7B, declined 15.7% below 2022.
Aon Buyback Spend 2022: $3.2B
Aon buyback spend in 2022 was $3.2B, declined 9.6% below 2021.
Aon Buyback Spend 2021: $3.54B
Aon buyback spend in 2021 was $3.54B.
See more financial history for Aon (AON).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $1B | $0.00 | $1B | 1.32% | 217M | +1.9% | |
| 2024 | $1B | $474M | $526M | 1.29% | 213M | +3.7% | |
| 2023 | $2.7B | $438M | $2.26B | 4.63% | 205M | -3.8% | |
| 2022 | $3.2B | $397M | $2.81B | 5.14% | 213M | -5.7% | |
| 2021 | $3.54B | $449M | $3.09B | 5.38% | 226M | -3.0% | |
| 2020 | $1.76B | $312M | $1.45B | 3.64% | 233M | -3.1% | |
| 2019 | $1.96B | $317M | $1.64B | 4.01% | 241M | -2.6% | |
| 2018 | $1.47B | $338M | $1.13B | 4.17% | 247M | -5.3% | |
| 2017 | $2.4B | $319M | $2.08B | 7.12% | 261M | -3.6% | |
| 2016 | $1.26B | $331M | $926M | 4.24% | 270M | -4.8% | |
| 2015 | $1.55B | $340M | $1.21B | 6.10% | 284M | -5.3% | |
| 2014 | $2.25B | $328M | $1.92B | 8.27% | 300M | -5.0% | |
| 2013 | $1.1B | $300M | $802M | 4.29% | 315M | -5.2% | |
| 2012 | $1.13B | $212M | $913M | 6.30% | 333M | -2.4% | |
| 2011 | $828M | $235M | $593M | 5.35% | 341M | +14.4% | |
| 2010 | $250M | $221M | $29M | 1.59% | 298M | +2.4% | |
| 2009 | $478M | $209M | $269M | 4.52% | 291M | -3.3% | |
| 2008 | $1.74B | $248M | $1.49B | 13.40% | 301M | -6.8% | |
| 2007 | $523M | $204M | $319M | 3.61% | 323M | -5.6% | |
| 2006 | $966M | $0.00 | $966M | 9.11% | 342M | +0.2% | |
| 2005 | $75M | $0.00 | $75M | 0.64% | 342M | +1.5% | |
| 2004 | $0.00 | $0.00 | $0.00 | — | 337M | +5.9% | |
| 2003 | $6M | $0.00 | $6M | 0.08% | 318M | +10.5% | |
| 2002 | $97M | $0.00 | $97M | 1.63% | 288M | +5.8% | |
| 2001 | $0.00 | $0.00 | $0.00 | — | 272M | +2.6% | |
| 2000 | $59M | $0.00 | $59M | — | 265M | +0.8% | |
| 1999 | $66M | $0.00 | $66M | — | 263M | +1.3% | |
| 1998 | $18M | $0.00 | $18M | — | 259M | +1.3% | |
| 1997 | $136M | $0.00 | $136M | — | 256M | +1.1% | |
| 1996 | $18M | $0.00 | $18M | — | 253M | — | |
| 1995 | $122M | $0.00 | $122M | — | — | — | |
| 1994 | $132M | $0.00 | $132M | — | — | — | |
| 1993 | $11.4M | $0.00 | $11.4M | — | — | — | |
| 1992 | $6.9M | $0.00 | $6.9M | — | — | — | |
| 1991 | $33.2M | $0.00 | $33.2M | — | — | — | |
| 1990 | $19M | $0.00 | $19M | — | — | — |
- 2025$1B
- 2024$1B
- 2023$2.7B
- 2022$3.2B
- 2021$3.54B
- 2020$1.76B
- 2019$1.96B
- 2018$1.47B
- 2017$2.4B
- 2016$1.26B
- 2015$1.55B
- 2014$2.25B
- 2013$1.1B
- 2012$1.13B
- 2011$828M
- 2010$250M
- 2009$478M
- 2008$1.74B
- 2007$523M
- 2006$966M
- 2005$75M
- 2004$0.00
- 2003$6M
- 2002$97M
- 2001$0.00
- 2000$59M
- 1999$66M
- 1998$18M
- 1997$136M
- 1996$18M
- 1995$122M
- 1994$132M
- 1993$11.4M
- 1992$6.9M
- 1991$33.2M
- 1990$19M
Buybacks vs stock-based compensation for Aon (AON)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 5.16×.
Buybacks vs dividends (share of cash returned) for Aon (AON)
How Aon splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Aon, ranked by their latest buyback spend.
| $34.6B | |
| $24.1B | |
| $19.5B | |
| $13.4B | |
| $12.4B | |
| $11.7B | |
| $5.84B | |
| $0.00 |
- $34.6B
- $24.1B
- $19.5B
- $13.4B
- $12.4B
- $11.7B
- $5.84B
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $2.59B (TTM FCF − TTM dividends, clamped at zero).
Frequently asked questions
Data & methodology
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation
- Buybacks2.26% TTM
- Dividend Profile0.81% yield
- Dividend Calculator
- Dividend Forecast
- Dividend Capture
- Stock Split History4 splits
How this company returns cash to shareholders — buybacks, dividends, and stock splits.