Aon Plc (AON) is overvalued and Accelerant Holdings (ARX) is overvalued.
Both trade above our estimate of their intrinsic value. AON is the closer of the two: -58%, against -499% for ARX.
Values as of the 19 Oct 2026 close.
Book value at 2.50x, the multiple a 44.9% return on equity justifies, blended with earnings, values the shares at $183.57; the price of $289.74 is 58% above that value.
Leak Score 47/100 on 12 of 12 signals
Book value and earnings at sector multiples values the shares at $3.31; the price of $19.83 is 499% above that value.
No Leak Score yet
| Metric | AON | ARX |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $289.74 | $19.83 |
| Intrinsic value | $183.57 | $3.31 |
| Margin of safety | -58% | -499% |
| Leak Score | 47/100 (12/12) | — |
| Market cap | $61.5B | $4.3B |
| Revenue growth, 5 years | 9.3% | — |
| Operating margin | 28.5% | 23.4% |
| Net margin | 22.3% | -181.9% |
| Return on equity | 44.9% | -380.1% |
| Debt to equity | 1.65 | 0.17 |
| P/E | 16.0x | — |
| Forward P/E | 14.3x | 21.3x |
| P/B | 6.4x | 6.0x |
| Dividend yield | 1.1% | — |