RYAN Financials Ryan Specialty Holdings, Inc.

7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Nov 1, 2026, 10:32 UTC Overview →

Growth & profitability

Revenue has grown 20.5% per year over the past 5 years.
Net income has grown slower than revenue (-1.4% vs 20.5% per year).
Free cash flow has grown 37.5% per year over the past 5 years.

Financial health

Total debt ($3.4B) exceeds cash ($158M); net debt is $3.2B.
Total debt has grown slower than revenue (16.2% vs 20.5% per year).
Total debt is 6.8× EBITDA.

Shareholder returns

Dividends have been paid for 2 consecutive years, consuming 96.2% of earnings and 9.5% of free cash flow.
The dividend has declined 23.9% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$3.0B	$63M	0.0%	16.5%	9.8%	0.6%	$641M	$3.4B	$158M
2024	$2.5B	$95M	0.0%	17.4%	15.1%	1.0%	$515M	$3.3B	$540M
2023	$2.0B	$61M	0.0%	17.7%	10.9%	0.8%	$477M	$2.0B	$839M
2022	$1.7B	$61M	0.0%	16.9%	12.8%	1.0%	$328M	$2.0B	$993M
2021	—	$66M	—	—	—	1.2%	-$70M	$1.6B	$1.1B
2020	—	$68M	—	—	—	1.5%	$130M	$1.6B	$896M
2019	—	$64M	—	—	—	—	$149M	—	$402M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$775M	$37M	0.0%	18.2%	8.2%	0.3%	$181M	$3.7B	$169M
Jun '26	$903M	$42M	0.0%	20.0%	8.3%	0.4%	$291M	$3.6B	$140M
Mar '26	$783M	$18M	0.0%	12.1%	2.8%	0.2%	-$167M	$3.6B	$155M
Dec '25	$738M	$8M	0.0%	12.4%	1.2%	0.1%	$263M	$3.4B	$158M
Sep '25	$740M	$31M	0.0%	15.0%	4.9%	0.3%	$167M	$3.4B	$153M
Jun '25	$841M	$52M	0.0%	22.7%	8.5%	0.5%	$354M	$3.4B	$173M
Mar '25	$676M	-$28M	0.0%	14.8%	-5.1%	-0.3%	-$143M	$3.7B	$204M
Dec '24	$649M	$14M	0.0%	16.8%	2.2%	0.1%	$260M	$3.3B	$540M
Sep '24	$588M	$18M	0.0%	13.9%	2.8%	0.2%	$101M	$2.6B	$235M
Jun '24	$680M	$47M	0.0%	24.2%	7.7%	0.6%	$271M	$1.9B	$612M
Mar '24	$538M	$17M	0.0%	13.5%	3.0%	0.2%	-$117M	$1.9B	$665M
Dec '23	$519M	$23M	0.0%	18.6%	4.1%	0.3%	—	$2.0B	$839M
Sep '23	$487M	-$5M	0.0%	14.3%	-0.9%	-0.1%	—	$1.9B	$754M
Jun '23	—	$30M	—	—	—	0.4%	—	$1.9B	$2.0B
Mar '23	—	$13M	—	—	—	0.2%	—	$2.0B	$1.5B
Dec '22	—	$18M	—	—	3.7%	0.3%	$177M	$2.0B	$993M
Sep '22	—	$12M	—	—	—	0.2%	—	$2.0B	$1.5B
Jun '22	—	$25M	—	—	—	0.4%	—	$2.0B	$1.7B
Mar '22	—	$7M	—	—	—	0.1%	—	$2.0B	$1.4B
Dec '21	—	$10M	—	—	—	0.2%	$119M	$1.6B	$1.1B

Valuation over time

How the market has priced RYAN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 72.4× (Mar '23) to 78.8× (Nov '26).
The price-to-sales ratio has fallen from 2.6× (Mar '23) to 1.7× (Nov '26).
The dividend yield has risen from 1.1% (Dec '24) to 1.2% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is RYAN growing its revenue and profit?

Over the past 5 years, Ryan Specialty Holdings, Inc.'s revenue has grown 20.5% per year, and net income declined 1.4% per year. These are computed facts, not advice.

How much debt does RYAN have?

As of FY2025, Ryan Specialty Holdings, Inc. reported $3.4B of total debt against $158M of cash.

What is RYAN's profit margin?

In FY2025, gross margin was —, operating margin 16.5%, and net margin 2.1%.

What is RYAN's P/E ratio?

Ryan Specialty Holdings, Inc.'s P/E (TTM) is 47.78 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the RYAN stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 78.8× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.