Debt-to-Equity Ratio

The debt-to-equity ratio of 1.56x means that for every dollar of shareholder equity, Aon has $1.56 in debt, indicating a moderate reliance on borrowed funds to finance operations.

This is well above the sector median of 0.41x, placing Aon in the 87th percentile among Financial Services peers — meaning its leverage is higher than 87% of comparable companies. The metric has been perfectly stable over the last eight quarters, with no change year-over-year and quarter-over-quarter (both +0.0%), showing no recent shift in capital structure. The combination of an elevated leverage level and a flat trend suggests a consistent but above-average risk profile, as the company maintains a fixed debt load relative to equity without either increasing or reducing exposure. This stability supports the overall NEUTRAL verdict — the metric neither signals a worsening financial risk nor an improvement that would justify a bullish or bearish stance.

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