RYAN SPECIALTY HOLDINGS, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $3.0B | $2.5B | $2.0B | $1.7B | $1.4B |
| Operating expenses | $2.6B | $2.1B | $1.7B | $1.4B | $1.2B |
| Operating income | $493.6M | $427.8M | $359.1M | $289.5M | $186.6M |
| Interest expense | — | — | $119.5M | $104.8M | $79.4M |
| Pretax income | $293.2M | $272.6M | $237.9M | $179.2M | $61.6M |
| Income tax expense | $79.0M | $42.6M | $43.4M | $15.9M | $4.9M |
| Net income | $63.4M | $94.7M | $61.0M | $61.1M | $65.9M |
| Balance Sheet | |||||
| Cash and equivalents | $158.3M | $540.2M | $838.8M | $992.7M | $1.1B |
| Current assets | $5.1B | $4.8B | $4.3B | $3.9B | $3.0B |
| Total assets | $10.6B | $9.6B | $7.2B | $6.4B | $5.5B |
| Current liabilities | $5.2B | $4.5B | $3.7B | $3.1B | $2.9B |
| Total liabilities | $9.3B | $8.6B | $6.3B | $5.6B | $4.9B |
| Total debt | $3.4B | $3.3B | $2.0B | $2.0B | $1.6B |
| Stockholders' equity | $648.1M | $627.7M | $559.8M | $478.4M | $594.8M |
| Cash Flow Statement | |||||
| Cash from operations | $643.7M | $514.9M | $477.2M | $335.5M | $273.5M |
| Depreciation and amortization | $13.1M | $9.8M | $9.0M | $5.7M | $4.8M |
| Stock-based compensation | $69.5M | $79.0M | $69.7M | $77.5M | $67.5M |
| Capital expenditure | $3.0M | $0 | $0 | $7.7M | $343.2M |
| Free cash flow | $640.7M | $514.9M | $477.2M | $327.8M | -$69.7M |
| Dividends paid | $61.0M | $80.2M | $0 | $0 | — |
| Share repurchases | — | — | $0 | $0 | $78.3M |
Shares outstanding 263.7M · Free float 43.8%
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.