(RYAN) Ryan Specialty Holdings - NYSE
Sector: Financial Services | Industry: Insurance - Specialty | Exchange: NYSE (USA) | Market Cap: 9.231m USD | Total Return: -48.4% in 12m
Avg Turnover: 77.8M
EPS Trend: 97.9%
Qual. Beats: 1
Rev. Trend: 99.9%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Confidence
Ryan Specialty Group Holdings, Inc. (NYSE: RYAN) is a Chicago-headquartered specialty insurance services provider founded in 2010 and listed on the NYSE following its July 2021 IPO. Operating in the U.S., Canada, the U.K., broader Europe, India, Singapore, and other international markets, the company serves insurance brokers, agents, and carriers across commercial, industrial, institutional, individual, and government sectors. Its offerings span distribution, underwriting, product development, administration, and risk management, delivered through two primary roles: wholesale brokerage and managing underwriting/program administration with delegated authority from insurance carriers. As a wholesale broker and managing general underwriter, Ryan Specialty sits between retail brokers and carriers, focusing on complex and niche risks that are typically underwritten outside of standard direct channels, which is consistent with the GICS Insurance Brokers sub-industry classification.
- E&S market share gains drive double-digit organic growth
- Acquisition pipeline adds new wholesale brokerage capabilities
- Hard market pricing cycle boosts commission and fee income
| Net Income: 131.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.66 > 1.0 |
| NWC/Revenue: 3.89% < 20% (prev 159.8%; Δ -155.9% < -1%) |
| CFO/TA 0.06 > 3% & CFO 619.1m > Net Income 131.6m |
| Net Debt (3.76b) to EBITDA (802.5m): 4.69 < 3 |
| Current Ratio: 1.02 > 1.5 & < 3 |
| Outstanding Shares: last quarter (129.6m) vs 12m ago 2.83% < -2% |
| Gross Margin: 67.56% > 18% (prev 39.65%; Δ 27.91% > 0.5%) |
| Asset Turnover: 30.20% > 50% (prev 26.83%; Δ 3.37% > 0%) |
| Interest Coverage Ratio: 2.32 > 6 (EBIT TTM 513.2m / Interest Expense TTM 221.6m) |
| A: 0.01 (Total Current Assets 5.58b - Total Current Liabilities 5.46b) / Total Assets 11.0b |
| B: 0.01 (Retained Earnings 120.5m / Total Assets 11.0b) |
| C: 0.05 (EBIT TTM 513.2m / Avg Total Assets 10.5b) |
| D: 0.06 (Book Value of Equity 636.2m / Total Liabilities 9.79b) |
| Altman-Z'' = 0.51 = B |
| DSRI: 0.11 (Receivables 565.3m/4.35b, Revenue 3.16b/2.65b) |
| GMI: 0.59 (GM 39.65% / 67.56%) |
| AQI: 0.93 (AQ_t 0.48 / AQ_t-1 0.51) |
| SGI: 1.19 (Revenue 3.16b / 2.65b) |
| TATA: -0.04 (NI 131.6m - CFO 619.1m) / TA 11.0b) |
| Beneish M = -4.05 (Cap -4..+1) = AAA |
As of June 25, 2026, the stock is trading at USD 35.28 with a total of 2,046,378 shares traded. Over the past week, the price has changed by -0.45%, over one month by +9.12%, over three months by +5.69% and over the past year by -48.40%.
Current recommended Stop Loss: 32.50 (which is 7.9% or 1.7 ATR below the current price).
Ryan Specialty Holdings has received a consensus analysts rating of 3.92. Therefore, it is recommended to buy RYAN.
- StrongBuy: 4
- Buy: 5
- Hold: 3
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 42.5 | 20.4% |
P/E Trailing = 42.6463
P/E Forward = 17.1527
P/S = 2.9765
P/B = 7.1165
Revenue TTM = 3.16b USD
EBIT TTM = 513.2m USD
EBITDA TTM = 802.5m USD
Long Term Debt = 3.53b USD (from longTermDebt, last quarter)
Short Term Debt = 62.6m USD (from shortTermDebt, last quarter)
Debt = 3.92b USD (from shortLongTermDebtTotal, last quarter) + Leases 173.4m
Net Debt = 3.76b USD (calculated: Debt 3.92b - CCE 154.7m)
Enterprise Value = 13.0b USD (9.23b + Debt 3.92b - CCE 154.7m)
Interest Coverage Ratio = 2.32 (Ebit TTM 513.2m / Interest Expense TTM 221.6m)
EV/FCF = 23.43x (Enterprise Value 13.0b / FCF TTM 554.6m)
FCF Yield = 4.27% (FCF TTM 554.6m / Enterprise Value 13.0b)
FCF Margin = 17.57% (FCF TTM 554.6m / Revenue TTM 3.16b)
Net Margin = 4.17% (Net Income TTM 131.6m / Revenue TTM 3.16b)
Gross Margin = 67.56% ((Revenue TTM 3.16b - Cost of Revenue TTM 1.02b) / Revenue TTM)
Gross Margin QoQ = 91.27% (prev 90.21%)
Tobins Q-Ratio = 1.18 (Enterprise Value 13.0b / Total Assets 11.0b)
Interest Expense / Debt = 5.66% (Interest Expense 221.6m / Debt 3.92b)
Taxrate = 10.41% (30.1m / 289.2m)
NOPAT = 459.8m (EBIT 513.2m * (1 - 10.41%))
Current Ratio = 1.02 (Total Current Assets 5.58b / Total Current Liabilities 5.46b)
Debt / Equity = 6.16 (Debt 3.92b / totalStockholderEquity, last quarter 636.2m)
Debt / EBITDA = 4.69 (Net Debt 3.76b / EBITDA 802.5m)
Debt / FCF = 6.78 (Net Debt 3.76b / FCF TTM 554.6m)
Total Stockholder Equity = 631.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.26% (Net Income 131.6m / Total Assets 11.0b)
RoE = 20.85% (Net Income TTM 131.6m / Total Stockholder Equity 631.2m)
RoCE = 12.32% (EBIT 513.2m / Capital Employed (Equity 631.2m + L.T.Debt 3.53b))
RoIC = 8.41% (NOPAT 459.8m / Invested Capital 5.46b)
WACC = 5.34% (E(9.23b)/V(13.1b) * Re(5.45%) + D(3.92b)/V(13.1b) * Rd(5.66%) * (1-Tc(0.10)))
Discount Rate = 5.45% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 33.33 | Cagr: 3.17%
[DCF] Terminal Value 77.97% ; FCFF base≈505.7m ; Y1≈579.8m ; Y5≈853.2m
[DCF] Fair Price = 70.12 (EV 12.8b - Net Debt 3.76b = Equity 9.08b / Shares 129.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 97.93 | EPS CAGR: 20.99% | SUE: 2.53 | # QB: 1
Revenue Correlation: 99.88 | Revenue CAGR: 21.32% | SUE: 1.06 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.60 | Chg30d=+0.22% | Revisions=+56% | Analysts=19
EPS next Quarter (2026-09-30): EPS=0.51 | Chg30d=+0.90% | Revisions=+56% | Analysts=19
EPS current Year (2026-12-31): EPS=2.05 | Chg30d=+0.59% | Revisions=+56% | GrowthEPS=+4.6% | GrowthRev=+6.8%
EPS next Year (2027-12-31): EPS=2.34 | Chg30d=+0.64% | Revisions=-17% | GrowthEPS=+14.3% | GrowthRev=+8.0%
[Analyst] Revisions Ratio: +56%