RYAN Stock Analysis: Ryan Specialty Holdings | NYSE
Insurance Brokers | NYSE, USA | Market Cap: 12.096m USD | 12M Return: -17.9% | US78351F1075 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 93.4M
EPS Trend: 97.4%
Qual. Beats: 0
Rev. Trend: 99.0%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 5.3 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Ryan Specialty Group Holdings, Inc. (NYSE: RYAN) is a specialty insurance services provider that operates as both a wholesale broker and a managing underwriter/program administrator with delegated authority from insurance carriers. Founded in 2010 and headquartered in Chicago, Illinois, the company offers distribution, underwriting, product development, administration, and risk management services to insurance brokers, agents, and carriers.
The company serves a diverse client base across commercial, industrial, institutional, individual, and government sectors, with operations spanning the United States, Canada, the United Kingdom, the rest of Europe, India, Singapore, and other international markets. Ryan Specialty went public on July 22, 2021, and is classified within the Financials sector under the GICS Insurance Brokers sub-industry.
As a wholesale broker and managing general underwriter, Ryan Specialty occupies an intermediary position in the insurance value chain, connecting retail brokers with insurance carriers and assuming underwriting authority on behalf of those carriers. This delegated authority model allows the company to quote, bind, and service policies in the carriers name, which is a defining feature of the specialty insurance distribution sector.
- Specialty insurance pricing strength fuels organic revenue growth
- Bolt-on acquisitions accelerate international specialty expansion
- Reinsurance hard market lifts delegated underwriting margins
| Net Income: 193.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.27 > 1.0 |
| NWC/Revenue: 0.97% < 20% (prev 132.4%; Δ -131.4% < -1%) |
| CFO/TA 0.05 > 3% & CFO 570.2m > Net Income 193.6m |
| Net Debt (3.87b) to EBITDA (819.5m): 4.72 < 3 |
| Current Ratio: 1.01 > 1.5 & < 3 |
| Outstanding Shares: last quarter (262.2m) vs 12m ago -4.13% < -2% |
| Gross Margin: 91.39% > 18% (prev 42.67%; Δ 48.72% > 0.5%) |
| Asset Turnover: 31.14% > 50% (prev 30.08%; Δ 1.06% > 0%) |
| Interest Coverage Ratio: 2.44 > 6 (EBIT TTM 539.5m / Interest Expense TTM 220.8m) |
| A: 0.00 (Total Current Assets 5.79b - Total Current Liabilities 5.75b) / Total Assets 11.0b |
| B: 0.02 (Retained Earnings 166.5m / Total Assets 11.0b) |
| C: 0.05 (EBIT TTM 539.5m / Avg Total Assets 10.4b) |
| D: 0.04 (Book Value of Equity 446.7m / Total Liabilities 10.1b) |
| Altman-Z'' = 0.46 = B |
| DSRI: 0.13 (Receivables 600.7m/4.23b, Revenue 3.25b/2.96b) |
| GMI: 0.47 (GM 42.67% / 91.39%) |
| AQI: 0.87 (AQ_t 0.46 / AQ_t-1 0.53) |
| SGI: 1.10 (Revenue 3.25b / 2.96b) |
| TATA: -0.03 (NI 193.6m - CFO 570.2m) / TA 11.0b) |
| Beneish M = -4.24 (Cap -4..+1) = AAA |
As of November 12, 2026, the stock is trading at USD 46.87 with a total of 1,595,374 shares traded. Over the past week, the price has changed by -1.14%, over one month by +26.17%, over three months by +11.45% and over the past year by -17.89%.
Current recommended Stop Loss: 44.70 (which is 4.6% or 1.3 ATR below the current price).
Ryan Specialty Holdings has received a consensus analysts rating of 3.68. Therefore, it is recommended to hold RYAN.
- StrongBuy: 5
- Buy: 4
- Hold: 9
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 49.7 | 6% |
P/E Trailing = 59.6625
P/E Forward = 19.802
P/S = 3.7816
P/B = 12.7889
Revenue TTM = 3.25b USD
EBIT TTM = 539.5m USD
EBITDA TTM = 819.5m USD
Long Term Debt = 3.63b USD (from longTermDebt, last quarter)
Short Term Debt = 71.4m USD (from shortTermDebt, last quarter)
Debt = 4.03b USD (from shortLongTermDebtTotal, last quarter) + Leases 178.9m
Net Debt = 3.87b USD (calculated: Debt 4.03b - CCE 168.8m)
Enterprise Value = 16.0b USD (12.1b + Debt 4.03b - CCE 168.8m)
Interest Coverage Ratio = 2.44 (Ebit TTM 539.5m / Interest Expense TTM 220.8m)
EV/FCF = 31.88x (Enterprise Value 16.0b / FCF TTM 500.7m)
FCF Yield = 3.14% (FCF TTM 500.7m / Enterprise Value 16.0b)
FCF Margin = 15.39% (FCF TTM 500.7m / Revenue TTM 3.25b)
Net Margin = 5.95% (Net Income TTM 193.6m / Revenue TTM 3.25b)
Gross Margin = 91.39% ((Revenue TTM 3.25b - Cost of Revenue TTM 280.1m) / Revenue TTM)
Gross Margin QoQ = 91.32% (prev 92.52%)
Tobins Q-Ratio = 1.45 (Enterprise Value 16.0b / Total Assets 11.0b)
Interest Expense / Debt = 5.47% (Interest Expense 220.8m / Debt 4.03b)
Taxrate = 15.81% (50.4m / 318.6m)
NOPAT = 454.2m (EBIT 539.5m * (1 - 15.81%))
Current Ratio = 1.01 (Total Current Assets 5.79b / Total Current Liabilities 5.75b)
Debt / Equity = 9.03 (Debt 4.03b / totalStockholderEquity, last quarter 446.7m)
Debt / EBITDA = 4.72 (Net Debt 3.87b / EBITDA 819.5m)
Debt / FCF = 7.72 (Net Debt 3.87b / FCF TTM 500.7m)
Total Stockholder Equity = 560.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.85% (Net Income 193.6m / Total Assets 11.0b)
RoE = 34.57% (Net Income TTM 193.6m / Total Stockholder Equity 560.1m)
RoCE = 12.86% (EBIT 539.5m / Capital Employed (Equity 560.1m + L.T.Debt 3.63b))
RoIC = 8.74% (NOPAT 454.2m / Invested Capital 5.20b)
WACC = 4.53% (E(12.1b)/V(16.1b) * Re(4.50%) + D(4.03b)/V(16.1b) * Rd(5.47%) * (1-Tc(0.16)))
Discount Rate = 4.50% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -36.87 | Cagr: -1.50%
[DCF] Terminal Value 73.54% ; FCFF base≈529.2m ; Y1≈475.5m ; Y5≈403.4m
[DCF] Fair Price = 21.47 (EV 6.44b - Net Debt 3.87b = Equity 2.57b / Shares 119.7m; r=8.35% [WACC [floored]]; 5y FCF grow -12.48% → 2.50% )
EPS Correlation: 97.38 | EPS CAGR: 16.87% | SUE: 0.40 | # QB: 0
Revenue Correlation: 99.02 | Revenue CAGR: 19.14% | SUE: -0.12 | # QB: 0
EPS current Quarter (2027-03-31): EPS=0.53 | Chg30d=-1.24% | Revisions=+8% | Analysts=17
EPS current Year (2026-12-31): EPS=2.18 | Chg30d=+0.78% | Revisions=+36% | GrowthEPS=+11.4% | GrowthRev=+7.7%
EPS next Year (2027-12-31): EPS=2.43 | Chg30d=-0.01% | Revisions=+12% | GrowthEPS=+11.3% | GrowthRev=+7.0%
[Analyst] Revisions Ratio: +22% (up=21, down=13)