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AON vs WTW // ALTMAN Z-SCORE & DEBT/EQUITY

Aon plc (Ireland) (Class A) (NYSE) VS. Willis Towers Watson Public Limited Company (NASDAQ) • 15-METRIC TALLY: AON 7 — WTW 5
■ METRIC PARITY
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (AON VS. WTW) EMERALD CELL = QUANTITATIVE EDGE
INSTITUTIONAL METRIC AON WTW SPREAD (A - B) ADVANTAGE DEDICATED URL
Gross Profit Margin — — — TIE /gross-margins <GO>
Return on Invested Capital (ROIC) 15.00% 16.60% -1.60 WTW /roic <GO>
EV/EBITDA & P/E Valuation 17.9x 12.5x +5.40 WTW /valuation <GO>
Free Cash Flow Yield 4.72% 4.52% +0.20 AON /fcf-yield <GO>
Operating Margin 25.30% 23.50% +1.80 AON /operating-margins <GO>
Net Profit Margin 21.50% 16.90% +4.60 AON /net-margins <GO>
Revenue Growth (YoY) 9.40% -2.30% +11.70 AON /revenue-growth <GO>
Dividend Yield & FCF Payout Safety 0.92% 1.20% -0.28 WTW /dividend-safety <GO>
Altman Z-Score & Debt/Equity ACTIVE — — — TIE /balance-sheet <GO>
Piotroski F-Score Quality 7/9 8/9 -1.00 WTW /piotroski-score <GO>
Options Implied Move & Put/Call Skew — — — TIE /options-implied-move <GO>
RSI-14 & 200D SMA Momentum 69.4 56.8 +12.60 AON /rsi-technicals <GO>
10Y Yield & FRED Macro Beta 0.94 1.12 -0.18 WTW /macro-sensitivity <GO>
Forward P/E Multiple 17.2x 17.3x -0.10 AON /forward-pe <GO>
Enterprise Scale & Market Cap $68.24B $29.79B $38.45B AON /market-cap <GO>
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
FISCAL YEAR AON REV WTW REV AON GROSS % WTW GROSS % AON FCF WTW FCF
FY 2025 $17.18B $9.52B — — $3.22B $1.35B
FY 2024 $15.70B $9.74B — — $2.82B $1.07B
FY 2023 $13.38B $9.30B — — $2.83B $926.3M
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
AON // BETA 0.94
WTW // BETA 1.12