Ryan Specialty Group (RYAN) AI Stock Analysis

• Market Cap: $15.61B
• Dividend Yield: 0.79%
• Average Volume (3M): 1.37M
• Price to Earnings (P/E): 2573.9
• Beta (1Y): 0.28
• Revenue Growth: 22.21%
• EPS Growth: -30.67%
• Country: US
• Employees: 5,556
• Sector: Financial
• Sector Strength: 69
• Industry: Insurance - Specialty
• EPS (TTM): 0.66
• Shares Outstanding: 128,039,920
• 10 Day Avg. Volume: 1,336,137
• 30 Day Avg. Volume: 1,368,467
• PEG Ratio: 2.22
• Price to Book (P/B): 12.35
• Price to Sales (P/S): 3.08
• P/FCF Ratio: 16.56
• Enterprise Value/Market Cap: 1.45
• Enterprise Value/Revenue: 8.07
• Enterprise Value/Gross Profit: 11.29
• Enterprise Value/Ebitda: 30.95
• 1Y Price Target: $72.10
• Price Target Upside: 20.51% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 12

• Rating: 66 Neutral
• Price Target: $62.00 ▲(3.63% Upside)

Ryan Specialty Group's overall stock score is driven by strong financial performance, highlighted by revenue growth and cash flow generation, and a positive earnings call outlook with strategic growth initiatives. However, the stock is facing bearish technical indicators and appears overvalued, which tempers the overall score.

Positive Factors

Earnings

Adjusted EPS of $0.66, up 13%, beat consensus estimates by $0.01.

Market Position

Ryan's national scale and niche expertise are helping it win market share.

Negative Factors

Growth Guidance

2025 organic growth guidance was cut to 9% to 11% from the previous 11% to 13%.

Interest Rates

Management expects headwinds in 2025 resulting from lower interest rates, impacting fiduciary investment income.

Ryan Specialty Group Business Overview & Revenue Model

Company Description

Ryan Specialty Group Holdings, Inc. operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter. The company was founded in 2010 and is headquartered in Chicago, Illinois.

How the Company Makes Money

Ryan Specialty Group makes money through its two main business segments: wholesale brokerage and underwriting management. In the wholesale brokerage segment, the company acts as an intermediary between insurance carriers and retail brokers, earning brokerage commissions for facilitating the placement of specialty insurance coverages. The underwriting management segment involves managing general underwriter (MGU) operations, where Ryan Specialty Group designs and administers insurance programs on behalf of insurers, earning fees and commissions based on the volume and profitability of the insurance written. Key revenue streams include brokerage commissions, fees from underwriting services, and profit-sharing arrangements with insurance carriers. Strategic partnerships with a wide network of brokers and insurers, along with a strong focus on niche and underserved markets, contribute significantly to its earnings.

Ryan Specialty Group Financial Statement Overview

Summary

Ryan Specialty Group exhibits strong revenue growth and operational efficiency, evidenced by stable EBIT and EBITDA margins. While profitability is improving, enhancing net margins and reducing leverage could fortify financial health. The company's solid cash flow generation supports ongoing operations and potential investments, though improving the equity ratio would enhance balance sheet resilience.

Income Statement

Ryan Specialty Group demonstrates robust revenue growth, with a notable increase from $2.52 billion in 2024 to $2.81 billion in TTM. The gross profit margin is strong at 54.2%, and the net profit margin improved to 4.6% in TTM. The EBIT margin remains stable at 15.4%, indicating consistent operational efficiency. However, while the EBITDA margin is healthy at 23.3%, there's room for improvement in net margins to enhance profitability further.

Balance Sheet

The company's balance sheet reflects a moderate debt-to-equity ratio of 5.99, indicating high leverage compared to equity. The return on equity has improved to 21.0% in TTM, showcasing effective utilization of equity for generating profits. However, the equity ratio remains low at 5.7%, suggesting a reliance on liabilities for asset financing. Strengthening equity could improve financial stability.

Cash Flow

Operating cash flow to net income ratio is robust at 4.45, demonstrating strong cash generation relative to net income. Free cash flow increased to $510 million, indicating a healthy cash position. However, the free cash flow to net income ratio is 3.97, which suggests potential to enhance cash earnings efficiency. Continued positive cash flow trends support operational flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.81B	2.52B	2.08B	1.73B	1.43B	1.02B
Gross Profit	2.01B	924.63M	756.52M	596.21M	441.15M	360.06M
EBITDA	733.18M	598.63M	497.60M	418.32M	186.62M	235.58M
Net Income	55.68M	94.67M	61.04M	163.26M	65.87M	68.10M
Balance Sheet
Total Assets	10.63B	9.65B	7.25B	6.38B	5.46B	4.53B
Cash, Cash Equivalents and Short-Term Investments	172.59M	540.20M	838.79M	992.72M	386.96M	312.65M
Total Debt	3.65B	3.46B	2.16B	2.16B	1.68B	1.69B
Total Liabilities	9.44B	8.55B	6.27B	5.57B	4.86B	4.46B
Stockholders Equity	610.09M	627.66M	559.75M	478.40M	343.77M	69.79M
Cash Flow
Free Cash Flow	510.40M	467.87M	447.43M	320.47M	263.71M	122.89M
Operating Cash Flow	571.34M	514.87M	477.20M	335.51M	273.49M	135.39M
Investing Cash Flow	-2.14B	-1.76B	-476.23M	-22.42M	-457.94M	-865.42M
Financing Cash Flow	1.33B	1.17B	-12.61M	314.76M	429.28M	989.24M

Ryan Specialty Group Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 59.83
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RYAN, the sentiment is Neutral. The current price of 59.83 is above the 20-day moving average (MA) of 59.82, below the 50-day MA of 63.59, and below the 200-day MA of 67.32, indicating a neutral trend. The MACD of -1.27 indicates Negative momentum. The RSI at 44.53 is Neutral, neither overbought nor oversold. The STOCH value of 55.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RYAN.

Ryan Specialty Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ESNT	81 Outperform	$6.15B	9.11	12.94%	1.89%	4.79%	-0.76%
AIZ	77 Outperform	$10.79B	15.47	13.65%	1.45%	6.42%	-7.74%
MTG	75 Outperform	$6.33B	9.00	14.85%	1.96%	3.26%	12.70%
FNF	71 Outperform	$16.16B	15.07	14.20%	3.26%	7.25%	17.55%
Sector *	68 Neutral	$17.56B	11.61	10.34%	3.76%	9.69%	0.41%
RYAN	66 Neutral	$15.61B	2,573.91	9.44%	0.79%	22.21%	-30.67%
FAF	65 Neutral	$6.60B	35.83	3.80%	3.34%	14.28%	-2.87%

Ryan Specialty Group Corporate Events

Ryan Specialty Group Reports Strong Q2 2025 Performance

Ryan Specialty Holdings, Inc. reported a strong financial performance for the second quarter of 2025, with total revenue increasing by 23.0% year-over-year to $855.2 million. The company achieved a net income of $124.7 million and an adjusted EBITDAC growth of 24.5%, reflecting its resilience in a challenging property rate environment. The firm also completed three acquisitions, bolstering its market position and demonstrating its commitment to long-term growth and value creation for shareholders.

The most recent analyst rating on (RYAN) stock is a Hold with a $66.00 price target. To see the full list of analyst forecasts on Ryan Specialty Group stock, see the RYAN Stock Forecast page.

Ryan Specialty Group Announces Leadership Changes

On July 16, 2025, Ryan Specialty Holdings, Inc. announced the passing of D. Cameron Findlay, a long-serving director and Chairperson of the Compensation and Governance Committee. Mr. Findlay, who had been with the company since 2012, was remembered for his extensive experience and contributions to the firm. In response to his passing, John W. Rogers, Jr. was appointed as Lead Director and Henry S. Bienen as Chairperson of the Compensation and Governance Committee. The announcement reflects the company’s efforts to address leadership changes while honoring Mr. Findlay’s legacy.

The most recent analyst rating on (RYAN) stock is a Hold with a $63.00 price target. To see the full list of analyst forecasts on Ryan Specialty Group stock, see the RYAN Stock Forecast page.

Ryan Specialty Group Approves Key Governance Amendments

On May 30, 2025, Ryan Specialty Holdings, Inc. held its annual meeting where stockholders approved multiple amendments to the company’s Certificate of Incorporation and bylaws. These changes include declassifying the Board of Directors, adopting a majority voting standard for uncontested director elections, and allowing stockholders to call special meetings and take action by written consent. Additionally, the amendments set a sunset date for the voting disparity between Class A and Class B shares and provide for the exculpation of certain officers under Delaware law. These amendments aim to enhance corporate governance and align with market standards, potentially impacting the company’s operational flexibility and shareholder engagement.

The most recent analyst rating on (RYAN) stock is a Hold with a $60.00 price target. To see the full list of analyst forecasts on Ryan Specialty Group stock, see the RYAN Stock Forecast page.