Financial PerformanceUpgrade to Outperform (from Market Perform) and raise EBITDA estimates by over 6% due to a combination of higher profit margin and accretive M&A expectations.
Growth PotentialRYAN's market share within the $80 billion+ dollar 'programs/MGA-U/binding authority' marketplaces is less than 10%, and that marketplace is highly fragmented, offering potential for significant growth.
Market PositionRyan Specialty continues to take 1pt+ of market share annually within its largest traditional E&S broking segment.