Ryan Specialty Holdings, Inc. (RYAN)

Ryan Specialty Holdings Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	2,995	2,456	2,027	1,712	1,432
Revenue Growth (YoY)	21.95%	21.17%	18.39%	19.53%	40.87%
Cost of Revenue	1,742	1,479	1,253	1,106	943.28
Gross Profit	1,253	976.96	773.21	605.82	488.9
Selling, General & Admin	392.38	277.81	230.47	187.5	129.6
Amortization of Goodwill & Intangibles	274.43	157.85	106.8	103.6	107.88
Operating Expenses	679.9	445.44	346.3	296.79	242.29
Operating Income	573.02	531.52	426.9	309.03	246.62
Interest Expense	-214.94	-167.52	-141.5	-98.2	-78.61
Interest & Investment Income	64.14	81.54	82.95	13.33	0.59
Earnings From Equity Investments	21.24	18.23	8.73	-0.41	-0.76
Other Non Operating Income (Expenses)	-6.26	-22	-17.34	-9.71	-36.31
EBT Excluding Unusual Items	437.2	441.77	359.75	214.03	131.53
Merger & Restructuring Charges	-98.68	-154.49	-68.22	-32.41	-57.34
Other Unusual Items	-45.33	-14.73	-53.61	-2.43	-12.62
Pretax Income	293.18	272.55	237.93	179.19	61.56
Income Tax Expense	79.03	42.64	43.45	15.94	4.93
Earnings From Continuing Operations	214.16	229.91	194.48	163.26	56.63
Minority Interest in Earnings	-150.76	-135.25	-133.44	-102.21	9.24
Net Income	63.4	94.67	61.04	61.05	65.87
Preferred Dividends & Other Adjustments	-	-	0.01	-0.81	72.94
Net Income to Common	63.4	94.67	61.03	61.86	-7.06
Net Income Growth	-33.03%	55.09%	-0.03%	-7.32%	-3.28%
Shares Outstanding (Basic)	127	121	114	109	106
Shares Outstanding (Diluted)	138	133	126	266	106
Shares Change (YoY)	4.03%	5.68%	-52.68%	151.35%	-86.26%
EPS (Basic)	0.50	0.78	0.53	0.57	-0.07
EPS (Diluted)	0.47	0.71	0.52	0.52	-0.07
EPS Growth	-34.86%	37.73%	0.33%	-	-
Free Cash Flow	572.7	467.87	447.43	312.76	-79.45
Free Cash Flow Per Share	4.14	3.52	3.56	1.18	-0.75
Dividend Per Share	0.480	0.440	-	-	-
Dividend Growth	9.09%	-	-	-	-
Gross Margin	41.84%	39.78%	38.15%	35.39%	34.14%
Operating Margin	19.13%	21.64%	21.07%	18.05%	17.22%
Profit Margin	2.12%	3.85%	3.01%	3.61%	-0.49%
Free Cash Flow Margin	19.13%	19.05%	22.08%	18.27%	-5.55%
EBITDA	860.53	699.15	542.74	418.32	359.3
EBITDA Margin	28.74%	28.47%	26.78%	24.44%	25.09%
D&A For EBITDA	287.52	167.63	115.84	109.29	112.68
EBIT	573.02	531.52	426.9	309.03	246.62
EBIT Margin	19.13%	21.64%	21.07%	18.05%	17.22%
Effective Tax Rate	26.96%	15.65%	18.26%	8.89%	8.01%
Revenue as Reported	3,051	2,516	2,078	1,725	1,433

Updated Feb 12, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q