Ryan Specialty Holdings, Inc. (RYAN)

Ryan Specialty Holdings Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	3,199	2,995	2,456	2,027	1,712	1,432
Revenue Growth	10.08%	21.95%	21.17%	18.39%	19.53%	40.87%
Gross Profit Gross Profit Growth	1,316	1,253	976.96	773.21	605.82	488.9
Operating Income Operating Income Growth	632.68	573.02	531.52	426.9	309.03	246.62
Net Income Net Income Growth	104.62	63.4	94.67	61.03	61.86	-7.06
Earnings Per Share EPS Growth	0.79	0.47	0.71	0.52	0.52	-0.07
EPS Growth	-	-34.86%	37.73%	0.33%	-	-

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Wholesale Brokerage Wholesale Brokerage Growth	1,657	1,600	1,489	1,319	1,129	931.98
Binding Authority Binding Authority Growth	387.23	370.16	320.38	275.96	231.05	209.62
Underwriting Management Underwriting Management Growth	1,155	1,024	646.22	431.58	351.57	290.58
Fiduciary Investment Income Fiduciary Investment Income Growth	54.3	56.54	60.04	50.95	13.33	0.59
Revenue (Total) Revenue (Total) Growth	3,253	3,051	2,516	2,078	1,725	1,433

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	168.81	158.32	554.14	838.79	992.72	386.96
Total Debt Total Debt Growth	3,855	3,531	3,464	2,155	2,157	1,683
Net Cash (Debt) Net Cash Growth	-3,687	-3,372	-2,910	-1,316	-1,164	-1,296
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-27.50	-24.39	-21.90	-10.47	-4.38	-12.26

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	570.18	643.67	514.87	477.2	335.51	273.49
Capital Expenditures CapEx Growth	-71.06	-70.97	-47	-29.78	-22.76	-352.94
Free Cash Flow Free Cash Flow Growth	499.12	572.7	467.87	447.43	312.76	-79.45
Free Cash Flow Growth	-12.29%	22.41%	4.57%	43.06%	-	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	41.14%	41.84%	39.78%	38.15%	35.39%	34.14%
Operating Margin	19.78%	19.13%	21.64%	21.07%	18.05%	17.22%
Pretax Margin	9.96%	9.79%	11.10%	11.74%	10.47%	4.30%
Profit Margin	3.27%	2.12%	3.85%	3.01%	3.61%	-0.49%
FCF Margin	15.60%	19.13%	19.05%	22.08%	18.27%	-5.55%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024
Period Ending	Nov 8, 2026	Dec 31, 2025	Dec 31, 2024
Dividend Per Share Dividend Per Share Growth	0.520	0.480	0.440
Dividend Per Share Growth	8.33%	9.09%	-
Dividend Yield	1.09%	0.94%	0.69%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 8, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	60.77	104.87	84.84	83.39	75.40	-
Forward PE	20.18	22.32	30.39	26.37	33.32	35.13
P/FCF Ratio	24.06	11.61	17.17	11.37	14.91	-
PS Ratio	3.75	2.22	3.27	2.51	2.73	3.10

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Oct 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Nov 4, 2026

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