Ryan Specialty Holdings, Inc. (RYAN)

Ryan Specialty Holdings Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	69.17	94.67	61.04	61.05	65.87	68.1
Depreciation & Amortization	302.71	190.09	140.5	132.34	132.68	67.5
Other Amortization	9.25	23.93	12.17	12.05	11.37	5
Loss (Gain) From Sale of Investments	6.96	6.96	6.96	4.64	-	-
Loss (Gain) on Equity Investments	-19.77	-18.23	-8.73	0.41	0.76	-0.44
Stock-Based Compensation	107.55	109.83	81.94	106.31	114	32.42
Other Operating Activities	216.43	137.01	145.44	93.69	-21.76	4.32
Change in Accounts Receivable	-49.91	-22.01	-44.19	-20.37	-29.66	-31.17
Change in Other Net Operating Assets	-2.32	-7.37	82.08	-54.62	0.22	-10.34
Operating Cash Flow	640.06	514.87	477.2	335.51	273.49	135.39
Operating Cash Flow Growth	32.77%	7.89%	42.23%	22.68%	102.00%	-9.44%
Capital Expenditures	-70.99	-47	-29.78	-22.76	-352.94	-17.73
Cash Acquisitions	-1,089	-1,709	-446.68	-	-108.88	-717.96
Investment in Securities	-16.56	-	-	-	-	-23.5
Other Investing Activities	-	-	0.23	0.34	3.89	-9.31
Investing Cash Flow	-1,176	-1,756	-476.23	-22.42	-457.94	-768.51
Short-Term Debt Issued	-	1,250	-	-	-	-
Long-Term Debt Issued	-	1,295	-	394	-	1,956
Total Debt Issued	2,107	2,545	-	394	-	1,956
Short-Term Debt Repaid	-	-1,250	-	-	-	-
Long-Term Debt Repaid	-	-8.25	-16.5	-16.54	-17.74	-903.96
Total Debt Repaid	-1,404	-1,258	-16.5	-16.54	-17.74	-903.96
Net Debt Issued (Repaid)	703.47	1,287	-16.5	377.46	-17.74	1,052
Issuance of Common Stock	-	-	-	-	1,448	118.12
Repurchase of Common Stock	-45	-27.46	-8.79	-7.17	-967.85	-52.56
Common Dividends Paid	-33.45	-53.14	-	-	-47.1	-50.12
Dividends Paid	-33.45	-53.14	-	-	-47.1	-50.12
Other Financing Activities	-51.09	-12.22	12.68	-55.54	92.12	58.08
Financing Cash Flow	546.83	1,167	-12.61	314.76	429.28	1,125
Foreign Exchange Rate Adjustments	7.35	-1.51	0.58	-0.13	-0.88	1.35
Net Cash Flow	17.76	-75.53	-11.05	627.72	243.96	493.54
Free Cash Flow	569.07	467.87	447.43	312.76	-79.45	117.66
Free Cash Flow Growth	29.74%	4.57%	43.06%	-	-	-16.80%
Free Cash Flow Margin	19.58%	19.05%	22.08%	18.27%	-5.55%	11.57%
Free Cash Flow Per Share	4.51	3.52	3.56	1.18	-0.75	0.15
Cash Interest Paid	-	-	-	-	79.36	41.03
Cash Income Tax Paid	11.4	27.33	16.4	11.23	6.76	7.56
Levered Free Cash Flow	486.53	503.21	353.87	258.73	-18.66	364.07
Unlevered Free Cash Flow	619.03	583.98	430.14	308.06	19.09	389.34
Change in Working Capital	-52.23	-29.38	37.9	-74.99	-29.44	-41.51

Updated Oct 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q