AON
Aon plc
AON's fundamentals are mixed: its operating margin rose 1 points to 26%, while revenue grew 3.8%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
AON Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
AON's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like AON.
IREN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| N/A | |
| N/A |
IREN's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like IREN.
AON PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 17x | $333 | — |
| Current | 18x | $333 | — |
| Cheap | 23x | $423 | +27% |
| Fair | 27x | $500 | +50% |
| Expensive | 34x | $616 | +85% |
Historical ranges are pointers, not guarantees.
AON's PE is 18x, but its earnings don't support one, so it isn't a reliable read right now.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
AON Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Strongly weakening | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AON, but weaker profitability.
IREN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect IREN's losses to grow, with revenue growing. However, they disagree widely on these estimates.
AON Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $19.21 | +5.2% |
| Q3 2026 | $18.26 | +48% |
| Q2 2026 | $18.14 | +54% |
| Q1 2026 | $18.22 | +57% |
| Q4 2025 | $17.02 | +36% |
| Q3 2025 | $12.31 | +3.6% |
| Q2 2025 | $11.77 | -6.1% |
| Q1 2025 | $11.57 | -9.5% |
| Q4 2024 | $12.49 | -0.2% |
AON has the edge over IREN on earnings quality, reporting a profit while its opponent remains loss making.
IREN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.96 | -347% |
| Q2 2026 | -$2.22 | -988% |
| Q1 2026 | $0.51 | +$1.10 |
| Q4 2025 | $1.18 | +$1.62 |
| Q3 2025 | $1.60 | +$1.99 |
| Q2 2025 | $0.25 | +$0.45 |
| Q1 2025 | -$0.59 | -$0.43 |
| Q4 2024 | -$0.44 | -$0.15 |
IREN has swung to a loss: it lost $3.96 per share over the past year, after a profit the year before.
AON Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.1B | +2.6% |
| Q2 2026 | $4.2B | +2.2% |
| Q1 2026 | $5B | +6.4% |
| Q4 2025 | $4.3B | +3.7% |
| Q3 2025 | $4B | +7.4% |
| Q2 2025 | $4.2B | +11% |
| Q1 2025 | $4.7B | +16% |
| Q4 2024 | $4.1B | +23% |
AON's revenue has grown year over year for 16 quarters in a row: $4.1B last quarter, up 2.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | -0.7 points |
| Q2 2026 | 22% | +0.9 points |
| Q1 2026 | 34% | +3.2 points |
| Q4 2025 | 28% | +1.8 points |
| Q3 2025 | 20% | +3.7 points |
| Q2 2025 | 21% | +3.2 points |
| Q1 2025 | 31% | -5.1 points |
| Q4 2024 | 26% | +3.2 points |
AON has the edge over IREN on profitability, with a higher operating margin.
IREN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $228M | -5.1% |
| Q2 2026 | $137.2M | -27% |
| Q1 2026 | $144.8M | 0% |
| Q4 2025 | $184.7M | +59% |
| Q3 2025 | $240.3M | +355% |
| Q2 2025 | $187.3M | +230% |
| Q1 2025 | $144.8M | +168% |
| Q4 2024 | $116.1M | +176% |
IREN's revenue has held roughly level: $228M last quarter, down 5.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -82% | -50 points |
| Q2 2026 | -452% | -461 points |
| Q1 2026 | -161% | -180 points |
| Q4 2025 | -63% | -79 points |
| Q3 2025 | -32% | +57 points |
| Q2 2025 | 9% | +49 points |
| Q1 2025 | 19% | +8 points |
| Q4 2024 | 15% | +21 points |
IREN's operating margin was −82% last quarter, down 50 points from the same quarter a year ago.
AON Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +1.7% |
| Q2 2026 | $483M | -34% |
| Q1 2026 | $363M | +332% |
| Q4 2025 | $1.3B | +16% |
| Q3 2025 | $1.1B | +13% |
| Q2 2025 | $732M | +59% |
| Q1 2025 | $84M | -68% |
| Q4 2024 | $1.1B | -5.5% |
AON has the edge over IREN on cash generation, producing positive trailing cash flow while its opponent burns cash.
IREN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.6B | -$1.6B |
| Q2 2026 | $482.2M | +2895% |
| Q1 2026 | -$873.8M | -$523.1M |
| Q4 2025 | -$468M | -$334M |
| Q3 2025 | -$38M | +$349.4M |
| Q2 2025 | $16.1M | +$179M |
| Q1 2025 | -$350.7M | -$128.7M |
| Q4 2024 | -$134M | -$105.2M |
IREN's free cash flow was −$2.5B over the past year, against −$507M the year before. Free cash flow isn't a meaningful measure for financial services companies like IREN.
AON Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -900K shares |
| 1 year | -1.7% | -3.7M shares |
| 3 years | +4.1% | +8.4M shares |
| 5 years | -5.5% | -12.4M shares |
| Available history | -11% | -27.6M shares |
AON has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $600M |
| Q1 2026 | $500M |
| Q4 2025 | $250M |
| Q3 2025 | $250M |
| Q2 2025 | $250M |
| Q1 2025 | $250M |
| Q4 2024 | $200M |
AON spent $1.4B buying back its own shares over the past year, up 42% from the year before.
IREN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +26% | +82.4M shares |
| 1 year | +10% | +36.9M shares |
| 3 years | +511% | +333M shares |
| 5 years | +624% | +344M shares |
| Available history | +2346% | +382M shares |
IREN has 399M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
AON Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.4x | High |
| Q2 2026 | 2.9x | Moderate |
| Q1 2026 | 2.8x | Moderate |
| Q4 2025 | 3.1x | Elevated |
| Q3 2025 | 3.6x | Elevated |
| Q2 2025 | 3.9x | Elevated |
| Q1 2025 | 4.2x | High |
| Q4 2024 | 4.0x | Elevated |
AON's net debt is about 5.4 years of its operating earnings (EBITDA), up from 3.6 years a year ago. Net leverage isn't a meaningful measure for financial services companies like AON.
IREN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | 157.6x | High |
| Q4 2025 | 22.2x | High |
| Q3 2025 | 4.1x | High |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 3.3x | Elevated |
| Q4 2024 | -4.6x | Net Cash |
| Q3 2024 | -16.7x | Net Cash |
| Q2 2024 | -15.9x | Net Cash |
IREN's net debt is more than 20 years of its operating earnings (EBITDA), up from 3.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like IREN.
AON Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.2 | Neutral |
| Stochastic | 62.2 | Neutral |
AON's weekly RSI is 54 (neutral) and its Stochastic is 62 (neutral).
IREN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.3 | Neutral |
| Stochastic | 8.2 | Oversold |
IREN's weekly RSI is 33 (neutral) and its Stochastic is 8 (oversold).
AON PE vs Financial Services Sector
| Metric | AON | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 13x | 40% above |
| PE % | 5 | 63 | 58 pts below |
AON is trading at 18x earnings, a 40% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
IREN PE vs Financial Services Sector
| Metric | IREN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
IREN has no meaningful PE right now: it lost money over the past year.
AON Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $300.9 | 11% above |
| 20 week MA | $327.8 | 1.7% above |
| 50 week MA | $329.9 | 1.1% above |
| 100 week MA | $347.4 | 4% below |
| 200 week MA | $335.2 | 0.5% below |
AON has the edge over IREN on trend strength, trading above more of its moving averages.
IREN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.8 | 35% below |
| 20 week MA | $36.2 | 46% below |
| 50 week MA | $42.8 | 54% below |
| 100 week MA | $32.0 | 39% below |
| 200 week MA | $19.1 | 2.1% above |
IREN has fallen below most of its moving averages, though it's still 2.1% above its 200-week average.
AON Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $207.5 | $210.6 | +1.5% |
| 2021 | $210.6 | $292.4 | +39% |
| 2022 | $292.4 | $300.6 | +2.8% |
| 2023 | $300.6 | $291.0 | -3.2% |
| 2024 | $291.0 | $360.4 | +24% |
| 2025 | $360.4 | $356.7 | -1% |
| 2026 YTD | $356.7 | $333.4 | -6.5% |
AON has the edge over IREN on returns for 2026, with the stronger performance.
IREN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $24.8 | $17.2 | -31% |
| 2022 | $17.2 | $1.19 | -93% |
| 2023 | $1.19 | $7.15 | +501% |
| 2024 | $7.15 | $10.7 | +50% |
| 2025 | $10.7 | $40.3 | +276% |
| 2026 YTD | $40.3 | $19.5 | -52% |
IREN's yearly returns have swung widely, from +501% in 2023 to −93% in 2022. It's down 52% so far in 2026.