Aon plc

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $3,218M FY2025 FCF base; 7% growth yrs 1-5; 4% yrs 6-10; 8% discount rate; 3% terminal growth; $14,777M net debt; 212.13M shares outstanding.

Reasoning: Aon is a stable global insurance broker/consultancy with high-margin recurring fee revenue and mid-single-digit organic growth plus margin expansion from NFP integration; discount rate reflects low-beta, non-cyclical business quality; pending USI Insurance acquisition (~$17B, closing Q4 2026) is not yet included and represents further upside optionality.