Aon plc vs RYAN SPECIALTY HOLDINGS, INC., two Insurance Brokers stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Aon is a global brokerage giant; Ryan Specialty is a wholesale specialist a fraction of its size, $70.7B against $4.3B. Both lean on debt, Ryan at 2.93 times equity and Aon at 1.47, though for different reasons: Ryan to fund growth, Aon to buy back shares. Returns split wide, with Aon at a 27.56% return on equity and Ryan at 8.92%, and margins even wider, 15.7% versus 3.44%. Ryan makes up ground on cash, a 14.43% free-cash yield against Aon's 4.95%. Aon trades at 18.01 times earnings; Ryan carries no clean multiple here, so its 3.51 times book anchors the price against Aon's 7.10.
Comparison updated 2026-07-11.
| Metric | AON | RYAN |
|---|---|---|
| Price | $356.58 | $40.41 |
| Market cap | $76.8B | $4.4B |
| Sector | Financial Services | Financial Services |
| Stage | Mature | Growth |
| P/E | 19.6 | — |
| P/B | 7.71 | 3.64 |
| P/S | 4.39 | 1.41 |
| EV/EBITDA | 18.9 | 15.6 |
| Revenue growth | +7.0% | +19.1% |
| Operating margin | 34.1% | 11.9% |
| Net margin | 15.7% | 3.4% |
| Return on equity | 27.6% | 8.9% |
| Return on assets | 5.3% | 1.0% |
| Dividend yield | 0.8% | — |
| Debt / equity | 1.47 | 2.93 |
| Current ratio | 1.07 | 1.02 |
| Piotroski F (quality) | 6 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.