Ryan Specialty Holdings, Inc. (RYAN)

Ryan Specialty Holdings Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	259.14	214.16	229.91	194.48	163.26	56.63
Depreciation & Amortization	289.29	287.52	167.63	115.84	109.29	112.68
Stock-Based Compensation	108.61	108.23	109.83	81.94	106.31	114
Other Adjustments	20.56	71.04	36.87	47.06	31.64	19.61
Changes in Receivables	-118.27	-57.56	-22.01	-44.19	-20.37	-29.66
Changes in Accrued Expenses	-0.31	9.36	20.34	0.93	7.78	0.76
Changes in Other Operating Activities	59.55	10.92	-27.71	81.15	-62.39	-0.54
Operating Cash Flow	619.08	643.67	514.87	477.2	335.51	273.49
Operating Cash Flow Growth	26.71%	25.02%	7.89%	42.23%	22.68%	102.00%
Capital Expenditures	-64.49	-67.95	-47	-29.78	-15.04	-9.78
Payments for Business Acquisitions	-193.19	-749.5	-1,709	-446.68	-7.71	-452.04
Other Investing Activities	-8.24	-16.56	-	0.23	0.34	3.89
Investing Cash Flow	-274.24	-834.01	-1,756	-476.23	-22.42	-457.94
Short-Term Debt Issued	1,284	1,333	1,250	-	-	-
Short-Term Debt Repaid	-1,391	-1,262	-1,250	-	-	-
Net Short-Term Debt Issued (Repaid)	-107.09	71.4	0	-	-	-
Long-Term Debt Issued	-	-	1,187	107.63	394	-
Long-Term Debt Repaid	-17	-17	-8.25	-16.5	-16.5	-17.61
Net Long-Term Debt Issued (Repaid)	-17	-17	1,179	91.13	377.5	-17.61
Issuance of Common Stock	-	-	-	-	-	1,448
Repurchase of Common Stock	-40.02	-	-	-	-	-967.85
Net Common Stock Issued (Repurchased)	-40.02	-	-	-	-	480.25
Repurchase of Preferred Stock	-	-	-	-	-	-78.26
Net Preferred Stock Issued (Repurchased)	-	-	-	-	-	-78.26
Common Dividends Paid	-92.51	-89.51	-102.45	-	-	-
Preferred Share Dividends Paid	-3.65	-3.73	-2.13	-	-	-
Other Financing Activities	113	116.96	-15.34	3.89	-62.74	44.9
Financing Cash Flow	-172.44	78.12	1,167	-12.61	314.76	429.28
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.62	15.9	-1.51	0.58	-0.13	-0.88
Net Cash Flow	173.02	-96.34	-75.53	-11.05	627.72	243.96
Free Cash Flow	554.59	575.71	467.87	447.43	320.47	263.71
Free Cash Flow Growth	-3.67%	23.05%	4.57%	39.62%	21.52%	114.58%
FCF Margin	17.57%	18.87%	18.60%	21.54%	18.58%	18.41%
Free Cash Flow Per Share	2.69	4.16	3.52	3.56	2.55	2.49
Levered Free Cash Flow	268.65	357.64	1,387	320.3	478.18	151.39
Unlevered Free Cash Flow	721.26	600.43	474.14	461.65	303.39	274.8

Updated May 1, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q