AON vs. MFC: Aon vs. Manulife Financial Stock Comparison
How do Aon (AON) and Manulife Financial (MFC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
Aon (AON) and Manulife Financial (MFC) both belong to the Insurance industry, though AON is classified under Insurance Brokers while MFC falls under Life & Health Insurance.
| Profile Item | AON | MFC |
|---|---|---|
| Name | Aon plc | Manulife Financial Corporation |
| Country/Region | Ireland | Canada |
| GICS Sector | Financials | Financials |
| GICS Industry Group | Insurance | Insurance |
| GICS Industry | Insurance | Insurance |
| GICS Sub-Industry | Insurance Brokers | Life & Health Insurance |
| Market Capitalization | 70.84 billion USD | 67.48 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | June 2, 1980 | September 24, 1999 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Performance Metrics
| Metric | AON | MFC |
|---|---|---|
| Total Return (1Y) | -6.59% | 29.21% |
Risk Profile
Drawdown History
Risk Metrics
| Metric | AON | MFC |
|---|---|---|
| Volatility (1Y, Annualized) | 24.34% | 20.56% |
| Beta (5Y) | 0.71 | 0.84 |
| Avg. Volume (3M) | 1.56M | 2.17M |
Risk-Adjusted Performance
Risk-Return Positioning
Profitability
ROE (TTM)
Aon (AON) at 46.45% clears its industry range for ROE, a sharper capital-efficiency signal than Manulife Financial (MFC) at 12.56%, which is closer to a typical peer reading.
AON
Insurance industry group
46.45%
- AON
- 46.45%
- Max
- 38.88%
- Q3
- 22.53%
- Median
- 14.77%
- Q1
- 9.91%
- Min
- -6.23%
MFC
Insurance industry group
12.56%
- Max
- 38.88%
- Q3
- 22.53%
- Median
- 14.77%
- MFC
- 12.56%
- Q1
- 9.91%
- Min
- -6.23%
Net Margin (TTM)
For every dollar of sales, both Aon (AON) at 22.54% and Manulife Financial (MFC) at 20.04% retain more as net profit than most peers, landing in the top net margin quartile of their industries.
AON
Insurance industry group
22.54%
- Max
- 38.86%
- AON
- 22.54%
- Q3
- 19.36%
- Median
- 11.07%
- Q1
- 5.09%
- Min
- -2.80%
MFC
Insurance industry group
20.04%
- Max
- 38.86%
- MFC
- 20.04%
- Q3
- 19.36%
- Median
- 11.07%
- Q1
- 5.09%
- Min
- -2.80%
Operating Margin (TTM)
Neither side reports a meaningful operating margin: for Aon (AON) in Insurance and Manulife Financial (MFC) in Insurance, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.
Profitability Metrics
| Metric | AON | MFC |
|---|---|---|
| ROE (TTM) | 46.45% | 12.56% |
| ROA (TTM) | 6.05% | 0.59% |
| Net Margin (TTM) | 22.54% | 20.04% |
| Operating Margin (TTM) | -- | -- |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Revenue Growth Metrics
| Metric | AON | MFC |
|---|---|---|
| Revenue Growth (YoY) | 9.45% | -- |
| Revenue Growth (3Y CAGR) | 11.25% | 29.95% |
EPS Growth
EPS Growth Metrics
| Metric | AON | MFC |
|---|---|---|
| EPS Growth (YoY) | 36.27% | 8.10% |
| EPS Growth (3Y CAGR) | 11.92% | -5.86% |
Financial Strength
Current Ratio (MRQ)
current ratio doesn’t apply on either side: Aon (AON) in Insurance and Manulife Financial (MFC) in Insurance both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.
Debt / Equity (MRQ)
debt-to-equity ratio is set aside for both: Aon (AON) in Insurance and Manulife Financial (MFC) in Insurance run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.
Financial Strength Metrics
| Metric | AON | MFC |
|---|---|---|
| Current Ratio (MRQ) | -- | -- |
| Debt / Equity (MRQ) | -- | -- |
| Net Debt / EBITDA | -- | -- |
Dividends
Dividend Yield (TTM)
Manulife Financial (MFC) at 4.44% delivers top-quartile income for its industry, while Aon (AON) at 0.91% pays a more typical yield — both are credible income propositions, MFC the richer one.
AON
Insurance industry group
0.91%
- Max
- 5.58%
- Q3
- 2.46%
- Median
- 1.18%
- AON
- 0.91%
- Q1
- 0.00%
- Min
- 0.00%
MFC
Insurance industry group
4.44%
- Max
- 5.58%
- MFC
- 4.44%
- Q3
- 2.46%
- Median
- 1.18%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Aon (AON) at 16.36% pays out a band-typical share of earnings, while Manulife Financial (MFC) at 52.02% distributes more than its industry norm — less retained, thinner cover.
AON
Insurance industry group
16.36%
- Max
- 86.52%
- Q3
- 35.43%
- AON
- 16.36%
- Median
- 14.92%
- Q1
- 0.00%
- Min
- 0.00%
MFC
Insurance industry group
52.02%
- Max
- 86.52%
- MFC
- 52.02%
- Q3
- 35.43%
- Median
- 14.92%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | AON | MFC |
|---|---|---|
| Dividend Yield (TTM) | 0.91% | 4.44% |
| Dividend Payout Ratio (TTM) | 16.36% | 52.02% |
Valuation
P/E Ratio (TTM)
Manulife Financial (MFC) at 16.60 is near its industry’s usual P/E ratio, while Aon (AON) at 18.21 sits in the richer quartile — AON needs stronger growth or earnings quality to justify the premium.
AON
Insurance industry group
18.21
- Max
- 28.97
- AON
- 18.21
- Q3
- 17.55
- Median
- 13.05
- Q1
- 8.85
- Min
- 3.65
MFC
Insurance industry group
16.60
- Max
- 28.97
- Q3
- 17.55
- MFC
- 16.60
- Median
- 13.05
- Q1
- 8.85
- Min
- 3.65
P/S Ratio (TTM)
Manulife Financial (MFC) at 2.11 is priced about in line with its industry on P/S ratio, while Aon (AON) at 4.05 sits in the pricier quartile — AON costs more per dollar of sales.
AON
Insurance industry group
4.05
- Max
- 4.36
- AON
- 4.05
- Q3
- 2.32
- Median
- 1.25
- Q1
- 0.86
- Min
- 0.09
MFC
Insurance industry group
2.11
- Max
- 4.36
- Q3
- 2.32
- MFC
- 2.11
- Median
- 1.25
- Q1
- 0.86
- Min
- 0.09
P/B Ratio (MRQ)
Manulife Financial (MFC) at 1.96 sits near its industry’s typical P/B ratio, while Aon (AON) at 7.20 prices above its benchmark range — AON looks rich relative to book.
AON
Insurance industry group
7.20
- AON
- 7.20
- Max
- 3.98
- Q3
- 2.56
- Median
- 1.75
- Q1
- 1.21
- Min
- -0.15
MFC
Insurance industry group
1.96
- Max
- 3.98
- Q3
- 2.56
- MFC
- 1.96
- Median
- 1.75
- Q1
- 1.21
- Min
- -0.15
Valuation Metrics
| Metric | AON | MFC |
|---|---|---|
| P/E Ratio (TTM) | 18.21 | 16.60 |
| P/S Ratio (TTM) | 4.05 | 2.11 |
| P/B Ratio (MRQ) | 7.20 | 1.96 |
| Free Cash Flow Yield (TTM) | -- | -- |