Ryan Specialty Group (RYAN) AI Stock Analysis

• Market Cap: $13.72B
• Dividend Yield: 0.93%
• Average Volume (3M): 1.92M
• Price to Earnings (P/E): 406.0
• Beta (1Y): 0.29
• Revenue Growth: 22.77%
• EPS Growth: -34.97%
• Country: US
• Employees: 5,556
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Specialty
• EPS (TTM): 0.47
• Shares Outstanding: 128,776,030
• 10 Day Avg. Volume: 1,746,546
• 30 Day Avg. Volume: 1,919,324
• PEG Ratio: 2.22
• Price to Book (P/B): 12.35
• Price to Sales (P/S): 3.05
• P/FCF Ratio: 16.56
• Enterprise Value/Market Cap: 0.77
• Enterprise Value/Revenue: 3.62
• Enterprise Value/Gross Profit: 8.50
• Enterprise Value/Ebitda: 11.91
• 1Y Price Target: $66.00
• Price Target Upside: 26.90% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 17
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: $57.00 ▲(9.59% Upside)

Ryan Specialty Group's strong revenue growth and strategic investments are key strengths, but high leverage, low profit margins, and valuation concerns weigh on the overall score. Technical indicators suggest bearish momentum, while the earnings call highlights both growth opportunities and margin pressures.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust market demand and effective business expansion strategies, supporting long-term financial health.

Strategic Investments

Investments in talent and technology enhance competitive positioning and foster innovation, driving sustainable growth.

Leadership Changes

New leadership with industry experience can provide fresh strategic direction, potentially improving operational efficiency and growth.

Negative Factors

High Leverage

High leverage increases financial risk, potentially limiting flexibility and increasing vulnerability to economic downturns.

Margin Pressures

Flat or declining margins can impact profitability, challenging the company's ability to sustain earnings growth.

Interest Expense Concerns

Persistent interest expenses can strain financial resources, reducing funds available for growth initiatives.

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 generates revenue primarily through commissions and fees earned from its brokerage services, which involve placing insurance coverage for clients with various carriers. The company also earns income from its managing general underwriting operations, where it underwrites specific insurance products and retains a portion of the premiums. Key revenue streams include transaction-based commissions from insurance placements, ongoing fees from clients for advisory services, and premiums collected from the insurance products it underwrites. Significant partnerships with various insurance carriers enhance RYAN's ability to offer a diverse range of products, while its reputation in the specialty market allows it to attract a broad client base, contributing to its overall earnings.

Ryan Specialty Group Financial Statement Overview

Summary

Ryan Specialty Group demonstrates strong revenue growth and operational efficiency, but faces challenges with high leverage and low net profit margins. Cash flow management is improving, but the company should focus on enhancing profitability and reducing financial risk to strengthen its financial position.

Income Statement

Ryan Specialty Group shows strong revenue growth with a TTM increase of 5.33% and consistent annual growth. Gross profit margins are high, indicating effective cost management. However, net profit margins are relatively low, suggesting room for improvement in profitability. EBIT and EBITDA margins are healthy, reflecting operational efficiency.

Balance Sheet

The company has a high debt-to-equity ratio, which poses a financial risk, but it has been relatively stable over the years. The return on equity is moderate, indicating decent profitability relative to shareholder investment. The equity ratio is low, suggesting a high reliance on debt financing.

Cash Flow

Free cash flow growth is positive, showing improvement in cash generation. The operating cash flow to net income ratio is low, indicating potential issues in converting income into cash. However, the free cash flow to net income ratio is strong, suggesting good cash flow management relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.94B	2.46B	2.03B	1.73B	1.43B	1.02B
Gross Profit	1.25B	944.84M	728.07M	1.73B	488.90M	358.48M
EBITDA	892.36M	778.75M	610.15M	487.29M	439.03M	235.58M
Net Income	69.17M	94.67M	61.04M	61.05M	65.87M	68.10M
Balance Sheet
Total Assets	9.85B	9.65B	7.25B	6.38B	5.46B	4.53B
Cash, Cash Equivalents and Short-Term Investments	153.49M	540.20M	838.79M	992.72M	386.96M	312.65M
Total Debt	3.58B	3.46B	2.16B	2.16B	1.68B	1.69B
Total Liabilities	8.62B	8.55B	6.27B	5.57B	4.86B	4.21B
Stockholders Equity	630.47M	627.66M	559.75M	478.40M	343.77M	309.43M
Cash Flow
Free Cash Flow	572.09M	467.87M	447.43M	320.47M	263.71M	122.89M
Operating Cash Flow	640.06M	514.87M	477.20M	335.51M	273.49M	135.39M
Investing Cash Flow	-1.18B	-1.76B	-476.23M	-22.42M	-457.94M	-768.51M
Financing Cash Flow	546.83M	1.17B	-12.61M	314.76M	429.28M	1.13B

Ryan Specialty Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 52.01
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RYAN, the sentiment is Negative. The current price of 52.01 is below the 20-day moving average (MA) of 54.76, below the 50-day MA of 54.81, and below the 200-day MA of 61.74, indicating a bearish trend. The MACD of -0.94 indicates Positive momentum. The RSI at 36.96 is Neutral, neither overbought nor oversold. The STOCH value of 16.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RYAN.

Ryan Specialty Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MTG	78 Outperform	$6.64B	9.54	14.40%	1.89%	2.20%	9.90%
FNF	74 Outperform	$14.94B	12.73	14.22%	3.69%	3.91%	55.78%
FAF	74 Outperform	$6.29B	13.09	9.28%	3.58%	25.99%	426.44%
AIZ	73 Outperform	$12.10B	14.68	15.41%	1.36%	6.91%	17.60%
ESNT	73 Outperform	$6.37B	9.58	12.35%	1.88%	2.78%	-0.50%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
RYAN	60 Neutral	$13.72B	405.97	11.16%	0.93%	22.77%	-34.97%

Ryan Specialty Group Corporate Events

Ryan Specialty Group Board Member Retirement Announced

Ryan Specialty Holdings, Inc. announced that Robert Le Blanc will retire from the Board of Directors effective February 11, 2026, following Onex Corporation’s sale of its remaining shares in the company. Le Blanc, who has been part of the Board since 2018 as Onex’s nominee, contributed significantly to the company’s growth and market leadership in specialty insurance solutions. His retirement marks the end of a significant chapter in Ryan Specialty’s history, reflecting the company’s evolution and Onex’s profitable investment.

Ryan Specialty Group Reports Strong Q3 2025 Results

Ryan Specialty Holdings reported strong financial results for the third quarter ended September 30, 2025, with a 24.8% year-over-year increase in total revenue to $754.6 million. The company achieved significant growth in net income, adjusted EBITDAC, and adjusted diluted earnings per share, driven by organic growth and strategic investments in talent and technology, positioning itself as a leader in the specialty lines industry.

Ryan Specialty Group Appoints New Co-Presidents

On October 8, 2025, Ryan Specialty Holdings, Inc. announced the appointment of Stephen P. Keogh and Brendan M. Mulshine as Co-Presidents, succeeding Jeremiah Bickham who transitioned to a strategic advisor role. This leadership change is expected to leverage the extensive industry experience of both executives to drive the company’s continued growth and success, reflecting the firm’s commitment to sustainable and profitable expansion.