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Ryan Specialty Holdings RYAN Underwriting Management — Net commissions and fees

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Other financials

Income statement

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Revenue$795.2M+15.2%
Operating income$94.6M-5.6%
Net income$17.6M+164%
EPS (diluted)$0.12-33.8%

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

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Market cap$5.76B-21.6%
Enterprise value$8.05B-15.1%
P/E53×-79.0×
P/S1.8×-0.8×

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×

Where this comes from

Reported directly by Ryan Specialty Holdings in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Ryan Specialty Holdings’s 10-Q, filed May 1, 2026.

Filed
May 1, 2026, 7:15 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001849253-26-000026
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Wholesale Brokerage$377,796$360,788
Binding Authority110,000101,950
Underwriting Management295,107213,390
Total Net commissions and fees$782,903$676,128

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Ryan Specialty Holdings's underwriting management — net commissions and fees?
Ryan Specialty Holdings (RYAN) reported underwriting management — net commissions and fees of $295.11M in Q1 2026.
How has Ryan Specialty Holdings's underwriting management — net commissions and fees changed year-over-year?
Ryan Specialty Holdings's underwriting management — net commissions and fees increased by 38.3% year-over-year, from $213.39M to $295.11M.
What is the long-term trend for Ryan Specialty Holdings's underwriting management — net commissions and fees?
Over 2 years (2022 to 2025), Ryan Specialty Holdings's underwriting management — net commissions and fees has grown at a 70.7% compound annual growth rate (CAGR), from $351.57M to $1.02B.
What does underwriting management — net commissions and fees mean?
This metric represents the total revenue generated by the underwriting management segment after deducting any applicable brokerage or carrier-related costs. It reflects the core income earned from providing specialized underwriting services, product development, and risk management solutions to insurance brokers and carriers. Growth in this figure indicates successful expansion of the firm's underwriting capacity and increased demand for its specialized insurance products.

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