Aon Plc (AON) is overvalued and Erie Indemnity Co (ERIE) is overvalued.
Both trade above our estimate of their intrinsic value. AON is the closer of the two: -56%, against -64% for ERIE.
Values as of the 22 Sept 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 $286.10 is 56% above that value.
Leak Score 59/100 on 3 of 12 signals
Book value at 2.50x, the multiple a 24.8% return on equity justifies, blended with earnings, values the shares at $142.88; the price of $234.38 is 64% above that value.
Leak Score 44/100 on 2 of 12 signals
| Metric | AON | ERIE |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $286.10 | $234.38 |
| Intrinsic value | $183.57 | $142.88 |
| Margin of safety | -56% | -64% |
| Leak Score | 59/100 (3/12) | 44/100 (2/12) |
| Market cap | $60.7B | $10.9B |
| Revenue growth, 5 years | 9.3% | 9.9% |
| Operating margin | 28.5% | 17.9% |
| Net margin | 22.3% | 14.0% |
| Return on equity | 44.9% | 24.8% |
| Debt to equity | 1.65 | 0.00 |
| P/E | 15.8x | 21.4x |
| Forward P/E | 13.9x | — |
| P/B | 6.3x | 4.4x |
| Dividend yield | 1.1% | 2.5% |