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Ryan Specialty Holdings RYAN Wholesale Brokerage — Net commissions and fees

Other product segments

Underwriting Management
$295.11M+38.3%
Binding Authority
$110M+7.9%

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FHNWholesale — Net Income
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FHNWholesale — Noninterest income
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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$4.53B-53.3%
Enterprise value$6.82B-44.0%
P/E41.7×-150×
P/S1.4×-2.2×

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×

Where this comes from

Reported directly by Ryan Specialty Holdings in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Ryan Specialty Holdings’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ryan Specialty Holdings's wholesale brokerage — net commissions and fees?
Ryan Specialty Holdings (RYAN) reported wholesale brokerage — net commissions and fees of $377.8M in Q1 2026.
How has Ryan Specialty Holdings's wholesale brokerage — net commissions and fees changed year-over-year?
Ryan Specialty Holdings's wholesale brokerage — net commissions and fees increased by 4.7% year-over-year, from $360.79M to $377.8M.
What is the long-term trend for Ryan Specialty Holdings's wholesale brokerage — net commissions and fees?
Over 2 years (2022 to 2025), Ryan Specialty Holdings's wholesale brokerage — net commissions and fees has grown at a 19.0% compound annual growth rate (CAGR), from $1.13B to $1.6B.
What does wholesale brokerage — net commissions and fees mean?
This metric represents the total revenue generated by the wholesale brokerage segment after accounting for commissions paid to sub-brokers and other related fees. It serves as a primary indicator of the segment's top-line performance and its ability to capture value from insurance distribution and underwriting services. Investors use this to assess the scale and growth trajectory of the company's core wholesale insurance operations.