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Ryan Specialty Holdings

RYAN

Ryan Specialty is an international specialty insurance intermediary that provides distribution, underwriting, and risk management services to insurance brokers, agents, and carriers.

Market cap
$5.59B-26.6%
Revenue$3.2B+18.9%
Net income$108.7M+115%
Free cash flow$616.7M+26.4%
Trailing twelve months · change vs. prior year

Earnings

Next report

Jul 30, 2026 (Tomorrow)
Revenue estimate$873.9M
EPS estimate$0.61

Financials

Q1 2026

Income statement

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Revenue$795.2M+15.2%
Operating income$94.6M-5.6%
Net income$17.6M+164%

Balance sheet

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Cash & equivalents$1.5B+13.2%
Total debt$3.8B-2.3%
Total equity$636.2M+17.3%
Total assets$11.0B+11.3%

Cash flow

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Operating cash flow-$167.4M-17.2%
CapEx--100%
Free cash flow-$167.4M-16.7%

Valuation & ratios

Valuation

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Market cap$5.59B-26.6%
Enterprise value$7.88B-24.4%
P/E51.5×-97.4×
P/S1.8×-1.2×

Profitability

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Operating margin15.5%-1.7pp
Net margin3.4%+1.5pp
FCF margin19.5%+1.2pp

Returns & leverage

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Return on equity18.4%+9.2pp
Debt / equity5.9×-1.2×
Current ratio0.0×

Segments

By product

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Wholesale Brokerage$377.8M+4.7%
Underwriting Management$295.1M+38.3%
Binding Authority$110.0M+7.9%

By segment

See full
Reporting Segment$795.2M+15.2%

Competitors

Profile

Ryan Specialty is an international specialty insurance intermediary that provides distribution, underwriting, and risk management services to insurance brokers, agents, and carriers. The company specializes in the Excess and Surplus (E&S) market, focusing on complex, high-hazard, and hard-to-place risks that require bespoke terms and conditions. Its core value proposition is delivering best-in-class intellectual capital and scaled distribution without competing against its retail broker clients.

Competitive position

The second-largest U.S. P&C insurance wholesale broker and the largest U.S. P&C managing underwriter by premium volume.

GeographiesUnited States, International
Customer segmentsRetail insurance brokers, Insurance carriers, Reinsurance carriers
Business modelCommission-based, Fee-for-service, B2B, Marketplace
SuppliersInsurance carriers, Reinsurance carriers, Lloyd's of London syndicates, Specialty insurance talent
CustomersRetail insurance brokerage firms, Global retail brokers, Middle-market retail brokers, Digital-first retail trading partners
Listed2021
Employees4.4K
CEOTimothy William Turner
FilingsSEC EDGAR

Questions, answered.

What is Ryan Specialty Holdings's market cap?
Ryan Specialty Holdings (RYAN) has a market capitalization of $5.6B and trades on NYSE.
What is Ryan Specialty Holdings's revenue and profitability?
Ryan Specialty Holdings generated $3.2B in trailing twelve-month revenue with net income of $108.7M, representing a net margin of 3.4%, with free cash flow of $616.7M. These figures are based on the Q1 2026 filing.
Who are Ryan Specialty Holdings's competitors?
Ryan Specialty Holdings's key competitors include Arthur J. Gallagher & Co., Brown & Brown, Inc., Aon plc, and others. These companies compete in similar markets and product categories.
Who does Ryan Specialty Holdings partner with?
Ryan Specialty Holdings's notable partners include Lloyd's of London, Berkshire Hathaway Ins Grp., American International Grp., and others.
What subsidiaries does Ryan Specialty Holdings have?
Ryan Specialty Holdings's subsidiaries include RT Specialty, RT ProExec, Ryan Specialty Underwriting Managers.
Where is Ryan Specialty Holdings headquartered?
Ryan Specialty Holdings is headquartered in United States of America and employs approximately 4,401 people. It has been publicly traded since 2021.