RYAN SPECIALTY HOLDINGS, INC. (RYAN)
Ryan Specialty Holdings, Inc. functions as a provider of specialized insurance products and comprehensive solutions for the benefit of insurance brokers, agents, and carriers. The company delivers a range of services including distribution, underwriting, product development, administration, and risk management, primarily through its roles as a wholesale broker and a managing underwriter. This firm, established in 2010, maintains its headquarters in Chicago, Illinois.
Sector: Insurance Agents, Brokers & Service
Industry: Insurance - Brokers
Ryan Specialty Holdings, Inc.
NYSE:RYANFinancial Services · Insurance - Brokers
-1.82%$43.68
AH Close$43.68+0.00%vs close
AH Close$43.68+0.00%vs close
Mkt Cap$5.33B
Float106.4M
O/S122.08M
Inst Own94.9%
SI12.3%
Div Yield1.17%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$3.05B
Net Income$63.4M
Total Assets$10.56B
Free Cash Flow$575.71M
Debt & Equity
Debt 84%
Equity 16%
Total Debt$3.53B
Total Equity$648.07M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in RYAN's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$10.56B
Liabilities$9.31B
Accounts Receivable$488.95M
Accounts Payable$217.3M
Inventory$0
PP&E (Net)$199.94M
Goodwill$3.23B
Intangible Assets$119.62M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $3.05B | $2.52B | $2.08B | $1.73B | $1.43B | $1.02B | $765.11M |
| YoY Growth | 21.3% | 21.1% | 20.4% | 20.4% | 40.7% | 33.1% | - |
| Cost of Revenue | $287.51M | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $2.76B | $2.52B | $2.08B | $1.73B | $1.43B | $1.02B | $765.11M |
| Gross Margin | 90.6% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $453.45M | $1.94B | $1.6B | $1.33B | $1.13B | $793.54M | $612.57M |
| Other | $1.68B | $300.03M | $242.41M | $220.05M | $240.63M | $145.27M | $84.56M |
| Total Operating Expenses | $2.14B | $2.24B | $1.84B | $1.55B | $1.37B | $938.81M | $697.13M |
| Operating Income (EBIT) | $625.23M | $272.55M | $237.93M | $179.19M | $61.56M | $79.47M | $67.98M |
| Operating Margin | 20.5% | 10.8% | 11.5% | 10.4% | 4.3% | 7.8% | 8.9% |
| Interest Expense | $222.38M | $158.45M | $119.51M | $104.83M | $79.35M | $47.24M | $35.55M |
| Interest Income | $56.54M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$332.05M | $0 | $0 | $0 | $0 | $0 | $0 |
| Income Before Tax (EBT) | $293.18M | $272.55M | $237.93M | $179.19M | $61.56M | $79.47M | $67.98M |
| Income Tax Expense | $79.03M | $42.64M | $43.45M | $15.94M | $4.93M | $8.95M | $4.93M |
| Net Income | $63.4M | $94.67M | $61.04M | $61.05M | $65.87M | $68.1M | $64.17M |
| Net Income Margin | 2.1% | 3.8% | 2.9% | 3.5% | 4.6% | 6.7% | 8.4% |
| Supplementary Data | |||||||
| EPS | 0.50 | 0.78 | 0.57 | 0.56 | -0.07 | 0.64 | 0.60 |
| Diluted EPS | 0.47 | 0.71 | 0.52 | 0.52 | -0.07 | 0.64 | 0.60 |
| Weighted Average OS | 127.27M | 120.78M | 114.36M | 108.62M | 105.73M | 106.49M | 106.49M |
| EBITDA | $803.08M | $598.63M | $473.27M | $393.31M | $253.6M | $194.21M | $156.63M |
| EBITDA Margin | 26.3% | 23.8% | 22.8% | 22.8% | 17.7% | 19.1% | 20.5% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $158.32M | $540.2M | $838.79M | $992.72M | $386.96M | $312.65M | $52.02M |
| Short-Term Investments | $0 | $13.94M | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $158.32M | $554.14M | $838.79M | $992.72M | $386.96M | $312.65M | $52.02M |
| Accounts Receivable | $488.95M | $4.17B | $3.46B | $2.87B | $2.6B | $2.16B | $127.14M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$76.55M | $0 | $0 | $0 | $0 | -$2.51B | $1.22B |
| Total Current Assets | $647.27M | $4.81B | $4.35B | $3.91B | $3.04B | $0 | $1.42B |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $199.94M | $183.47M | $170.13M | $175.14M | $100.16M | $111.36M | $11.56M |
| Goodwill | $3.23B | $2.65B | $1.65B | $1.31B | $1.31B | $1.22B | $528.51M |
| Intangible Assets | $119.62M | $1.48B | $610.67M | $486.44M | $573.93M | $604.76M | $165.24M |
| Long-Term Investments | $109.98M | $70.88M | $46.1M | $38.51M | $45.42M | $47.22M | $22.52M |
| Deferred Tax Assets | $310.14M | $448.29M | $383.82M | $396.81M | $382.75M | $0 | $0 |
| Other Long-Term Assets | $5.95B | $18.59M | $39.31M | $56.99M | $10.79M | -$1.99B | $41.26M |
| Total Long-Term Assets | $9.92B | $4.84B | $2.9B | $2.47B | $2.42B | $0 | $769.09M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $4.53B | $0 |
| Total Assets | $10.56B | $9.65B | $7.25B | $6.38B | $5.46B | $4.53B | $2.19B |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $217.3M | $0 | $0 | $0 | $0 | $0 | $45.93M |
| Short-Term Debt | $60.19M | $51.73M | $35.38M | $30.59M | $23.47M | $19.16M | $9.25M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$217.3M | $39.92M | $55K | $562K | $631K | -$39.04M | $1.22B |
| Total Current Liabilities | $86.17M | $649.45M | $501.28M | $414.31M | $433.56M | $0 | $1.43B |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $3.29B | $3.23B | $1.94B | $1.95B | $1.57B | $1.57B | $660.03M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $49.83M | $39.92M | $55K | $562K | $631K | $577K | $0 |
| Other Long-Term Liabilities | $5.73B | $4.47B | $3.67B | $3.05B | $2.79B | -$1.65B | $39.23M |
| Total Long-Term Liabilities | $9.22B | $7.9B | $5.77B | $5.15B | $4.43B | $0 | $699.25M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $4.46B | $0 |
| Total Liabilities | $9.31B | $8.55B | $6.27B | $5.57B | $4.86B | $4.46B | $2.13B |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $74.27M | $139.64M |
| Common Stock | $265K | $261K | $261K | $259K | $259K | $0 | $97.5M |
| Retained Earnings | $120.35M | $122.94M | $114.42M | $53.99M | -$7.06M | $0 | -$173.75M |
| Comprehensive Income & Other | $13.85M | -$1.8M | $3.08M | $6.04M | $1.71M | $2.7M | $864K |
| Other Stockholders' Equity | $527.46M | $504.46M | $445.07M | $424.16M | $350.58M | $69.79M | $140.51M |
| Total Equity | $648.07M | $627.66M | $559.75M | $478.4M | $343.77M | $69.79M | $64.26M |
| Minority Interest | $605.98M | $470.62M | $419.89M | $339.41M | $251M | $1.3M | -$1.11M |
| Total Liabilities and Equity | $9.96B | $9.18B | $6.83B | $6.04B | $5.21B | $4.53B | $2.19B |
| Supplementary Data | |||||||
| Total Debt | $3.53B | $3.46B | $2.16B | $2.16B | $1.68B | $1.69B | $669.27M |
| Net Debt | $3.37B | $2.92B | $1.32B | $1.16B | $1.3B | $1.38B | $617.26M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | $214.16M | $229.91M | $194.48M | $163.26M | $56.63M | $70.51M | $63.06M |
| Depreciation & Amortization | $287.51M | $167.63M | $115.84M | $109.29M | $112.68M | $67.5M | $53.1M |
| Deferred Income Tax | $26.05M | $24.22M | $36.66M | $14.54M | -$1.15M | $203K | -$800K |
| Stock-Based Compensation | $38.78M | $79M | $69.74M | $77.48M | $67.53M | $10.8M | $8.15M |
| Changes in Working Capital: | |||||||
| Accounts Receivable | -$57.56M | -$22.01M | -$44.19M | -$20.37M | -$29.66M | -$31.17M | -$3.73M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $20.28M | -$7.37M | $82.08M | -$54.62M | $220K | -$10.34M | $24.17M |
| Total Working Capital Change | -$37.28M | -$29.38M | $37.9M | -$74.99M | -$29.44M | -$41.51M | $20.44M |
| Other Non-Cash Items | $114.45M | $43.49M | $22.59M | $45.94M | $67.23M | $27.89M | $5.56M |
| Net Cash from Operating | $643.67M | $514.87M | $477.2M | $335.51M | $273.49M | $135.39M | $149.51M |
| Investing Activities | |||||||
| Capital Expenditures | -$67.95M | -$47M | -$29.78M | -$15.04M | -$9.78M | -$12.5M | -$7.99M |
| Acquisitions | -$746.49M | -$1.71B | -$446.68M | $0 | -$108.88M | -$741.46M | -$144.4M |
| Purchases of Investments | -$16.56M | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$3.01M | $0 | $228K | -$7.38M | -$339.27M | -$14.55M | $4.39M |
| Net Cash from Investing | -$834.01M | -$1.76B | -$476.23M | -$22.42M | -$457.94M | -$768.51M | -$148M |
| Financing Activities | |||||||
| Debt Repaid | -$54.4M | -$1.29B | $16.5M | -$377.46M | $17.74M | -$1.48B | $70.11M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $1.45B | $0 | $0 |
| Common Stock Repurchases | -$3.73M | -$2.13M | -$8.79M | -$7.17M | -$967.85M | -$52.56M | -$3.17M |
| Dividends Paid | -$62.34M | -$80.24M | $0 | -$39.88M | -$47.1M | -$50.12M | -$72.29M |
| Other Financing Activities | $89.79M | -$37.55M | $12.68M | -$15.66M | $92.12M | $176.2M | $58.91M |
| Net Cash from Financing | $78.12M | $1.17B | -$12.61M | $314.76M | $429.28M | $1.13B | $62.27M |
| Forex Effect | $15.89M | -$1.51M | $584K | -$126K | -$883K | $1.35M | $265K |
| Net Change in Cash | -$96.33M | -$75.53M | -$11.05M | $627.72M | $243.96M | $493.54M | $64.05M |
| Supplementary Data | |||||||
| Operating Cash Flow | $643.67M | $514.87M | $477.2M | $335.51M | $273.49M | $135.39M | $149.51M |
| Capital Expenditure | -$67.95M | -$47M | -$29.78M | -$15.04M | -$9.78M | -$12.5M | -$7.99M |
| Free Cash Flow | $575.71M | $467.87M | $447.43M | $320.47M | $263.71M | $122.89M | $141.52M |
| Cash at Beginning | $1.68B | $1.76B | $1.77B | $1.14B | $895.7M | $402.16M | $338.11M |
| Cash at End | $1.58B | $1.68B | $1.76B | $1.77B | $1.14B | $895.7M | $402.16M |