RYAN Class A Ryan Specialty Holdings, Inc. Class A Common Stock
NYSE · Insurance · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 31, 2026
$37.67
· of 52w range
· above low
· to high
$29.2852w low
$59.1952w high
Revenue
$3.05B
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52W Range
$29–$59
Analyst Rating
HOLD
Price Target
$51
P/E
·
ROE
9.9%
Net Profit Margin
3.1%
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RYAN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$37.67
Revenue
$3.05B
ROE
9.9%
Debt/Equity (MRQ)
7.0
52W Range
$29–$59
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$3.05B2019-12-31 → 2025-12-31
Free Cash Flow$641M2021-12-31 → 2025-12-31
Net margin3.1%2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | RYAN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 14.8%5Y avg ≈16.1% | ≈16.1% | 19.9% | In line | |
| EBITDA Margin | 16.2%5Y avg ≈16.1% | ≈16.1% | 19.7% | In line | |
| Pretax Margin (TTM) | 8.8%5Y avg ≈9.3% | ≈9.3% | 14.3% | In line | |
| Net Profit Margin (TTM) | 3.1%5Y avg ≈3.4% | ≈3.4% | 8.5% | Weak | |
| ROA | 0.63%5Y avg ≈1.0% | ≈1.0% | 4.3% | Weak | |
| ROE | 9.9%5Y avg ≈10.8% | ≈10.8% | 7.8% | Top tier | |
| ROIC | 9.2%5Y avg ≈9.5% | ≈9.5% | 13.6% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | RYAN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 7.05Y avg ≈3.7 | ≈3.7 | 0.6 | High debt | |
| Current Ratio (MRQ) | 1.05Y avg ≈1.1 | ≈1.1 | 1.1 | Low liquidity | |
| Quick Ratio | 0.15Y avg ≈0.4 | ≈0.4 | 0.4 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | 7.05Y avg ≈3.7 | ≈3.7 | 0.7 | High debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | RYAN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 21.3%5Y avg ≈24.8% | ≈24.8% | · | · | |
| Revenue CAGR 3Y | 20.9%5Y avg ≈22.8% | ≈22.8% | · | · | |
| Revenue CAGR 5Y | 24.5% | · | · | · | |
| Net Income YoY | -33.0%5Y avg ≈2.3% | ≈2.3% | · | · | |
| Net Income CAGR 3Y | 1.3%5Y avg ≈3.5% | ≈3.5% | · | · | |
| Net Income CAGR 5Y | -1.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | RYAN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.35Y avg ≈0.3 | ≈0.3 | 0.4 | Weak | |
| Receivables Turnover | 6.95Y avg ≈7.5 | ≈7.5 | 9.3 | Below avg | |
| Revenue / Employee | ≈$494.4K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Payout Ratio96.2%
Annualized Payout≈$0.52
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 11, 2026 | $0.13 | USD | ≈1.2% |
| May 12, 2026 | $0.13 | USD | ≈1.6% |
| Feb 24, 2026 | $0.13 | USD | ≈1.3% |
| Nov 10, 2025 | $0.12 | USD | ≈0.84% |
| Aug 12, 2025 | $0.12 | USD | ≈0.79% |
| May 13, 2025 | $0.12 | USD | ≈0.67% |
| Mar 4, 2025 | $0.12 | USD | ≈1.1% |
| Nov 12, 2024 | $0.11 | USD | ≈0.94% |
| Aug 13, 2024 | $0.11 | USD | ≈0.86% |
| May 13, 2024 | $0.11 | USD | ≈0.85% |
| Mar 12, 2024 | $0.34 | USD | ≈0.63% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
1.8%
Next Report
Oct 28, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 29, 2026 | $0.74 | $0.61 | 20.9% |
| March 31, 2026 | $0.47 | $0.45 | 5.3% | |
| Dec. 31, 2025 | $0.45 | $0.51 | -11.3% | |
| Sept. 30, 2025 | $0.47 | $0.48 | -1.3% | |
| June 30, 2025 | $0.66 | $0.66 | -0.60% | |
| March 31, 2025 | $0.39 | $0.40 | -2.3% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $3.05B | $2.52B | $2.08B | $1.73B | $1.43B | $1.02B | |
| SG&A Expense | $453M | $352M | $276M | $197M | $139M | $107M | |
| Operating Expenses | $2.56B | $2.09B | $1.72B | $1.44B | $1.25B | $860M | |
| Operating Income | $494M | $428M | $359M | $290M | $187M | $159M | |
| Interest Expense | · | · | $120M | $105M | $79M | $47M | |
| Other Non-op | $692.0K | $-15M | $-10M | $-5M | $-45M | $-32M | |
| Pretax Income | $293M | $273M | $238M | $179M | $62M | $79M | |
| Income Tax | $79M | $43M | $43M | $16M | $5M | $9M | |
| Net Income | $63M | $95M | $61M | $61M | $66M | $68M | |
| EBITDA | $494M | $428M | $359M | $290M | $187M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $158M | $540M | $839M | $993M | $1.14B | $896M | |
| Receivables | $489M | $390M | $294M | $231M | $210M | $178M | |
| Prepaid Expense | $14M | $9M | $9M | $9M | $8M | $9M | |
| Other Current Assets | $100M | $110M | $62M | $50M | $16M | $16M | |
| Current Assets | $5.06B | $4.79B | $4.34B | $3.89B | $3.01B | $2.49B | |
| PP&E (Net) | $69M | $50M | $42M | $31M | $15M | $17M | |
| Goodwill | $3.23B | $2.65B | $1.65B | $1.31B | $1.31B | $1.22B | |
| Intangibles | $120M | $84M | $38M | $29M | $574M | $605M | |
| Other Non-current Assets | $15M | $19M | $39M | $57M | $11M | $12M | |
| Total Assets | $10.56B | $9.65B | $7.25B | $6.38B | $5.46B | $4.53B | |
| Accounts Payable | $284M | $249M | $136M | $119M | $99M | $116M | |
| Current Liabilities | $5.19B | $4.55B | $3.74B | $3.13B | $2.92B | $2.48B | |
| Capital Leases | $153M | $159M | $154M | $152M | $74M | $84M | |
| Deferred Tax | $50M | $40M | $55.0K | $562.0K | $631.0K | $577.0K | |
| Other Non-current Liabilities | $98M | $87M | $41M | $22M | $28M | $17M | |
| Total Liabilities | $9.31B | $8.55B | $6.27B | $5.57B | $4.86B | $4.22B | |
| Long-term Debt | $3.35B | $3.28B | $1.97B | $1.98B | $1.59B | $1.59B | |
| Total Debt | $3.29B | $3.23B | $1.94B | $1.95B | $1.57B | · | |
| Paid-in Capital | $514M | $506M | $442M | $418M | $349M | · | |
| Retained Earnings | $120M | $123M | $114M | $54M | $-7M | $-346M | |
| AOCI | $14M | $-2M | $3M | $6M | $2M | $3M | |
| Stockholders' Equity | $648M | $628M | $560M | $478M | $595M | · | |
| Liabilities + Equity | $10.56B | $9.65B | $7.25B | $6.38B | $5.46B | $4.53B |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Stock-based Comp | $69M | $79M | $70M | $77M | $68M | $11M | |
| Deferred Tax | $26M | $17M | $7M | $9M | $-1M | $203.0K | |
| Amort. of Intangibles | $274M | $158M | $107M | $104M | $108M | $64M | |
| Restructuring | · | $82M | $56M | $6M | $14M | $11M | |
| Operating Cash Flow | $644M | $515M | $477M | $336M | $273M | $135M | |
| CapEx | $3M | $0 | $0 | $8M | $343M | $5M | |
| Investing Cash Flow | $-834M | $-1.76B | $-476M | $-22M | $-458M | $-769M | |
| Dividends Paid | $61M | $80M | · | · | · | · | |
| Financing Cash Flow | $78M | $1.17B | $-13M | $315M | $429M | $1.13B | |
| Net Change in Cash | $-96M | $-76M | $-11M | $628M | $244M | $494M | |
| Taxes Paid | $14M | $27M | $16M | $11M | $7M | · | |
| Free Cash Flow | $641M | $515M | $477M | $328M | $-70M | · | |
| Levered FCF | · | · | $380M | $232M | $-143M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | 16.2% | 17.0% | 17.3% | 16.8% | 13.0% | · | |
| Net Margin | 2.1% | 3.8% | 2.9% | 3.5% | 4.6% | · | |
| Pretax Margin | 9.6% | 10.8% | 11.5% | 10.4% | 4.3% | · | |
| EBITDA Margin | 16.2% | 17.0% | 17.3% | 16.8% | 13.0% | · | |
| ROA | 0.63% | 1.1% | 0.90% | 1.0% | 1.3% | · | |
| ROE | 9.9% | 15.9% | 8.6% | 8.0% | 11.5% | · | |
| ROIC | 9.2% | 9.3% | 11.7% | 9.5% | 7.9% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.1 | 1.2 | 1.2 | 1.0 | · | |
| Quick Ratio | 0.1 | 0.2 | 0.5 | 0.6 | 0.5 | · | |
| Debt / Equity | 5.1 | 5.1 | 3.5 | 2.4 | 2.6 | · | |
| LT Debt / Equity | 5.1 | 5.1 | 3.5 | 2.4 | 2.6 | · | |
| Interest Coverage | · | · | 3.0 | 2.8 | 2.4 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | · | |
| Receivables Turnover | 6.9 | 7.4 | 7.9 | 7.8 | 7.4 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 21.3% | 21.1% | 20.4% | 20.4% | 40.7% | · | |
| Revenue CAGR 3Y | 20.9% | 20.6% | 26.8% | · | · | · | |
| Revenue CAGR 5Y | 24.5% | · | · | · | · | · | |
| Net Income YoY | -33.0% | 55.1% | -0.02% | -7.3% | -3.3% | · | |
| Net Income CAGR 3Y | 1.3% | 12.8% | -3.6% | · | · | · | |
| Net Income CAGR 5Y | -1.4% | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.05B | $2.52B | $2.08B | $1.73B | $1.43B | · | |
| Net Income TTM | $63M | $95M | $61M | $61M | $66M | · | |
| Payout Ratio | 96.2% | 84.7% | · | · | · | · | |
| Annual Payout | $61M | $80M | · | · | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $917M | $795M | $751M | $755M | $855M | $690M | $664M | $605M | $695M | $552M | $533M | $502M | $585M | $458M | $435M | $412M | |
| SG&A Expense | $119M | $109M | $123M | $118M | $107M | $106M | $105M | $89M | $83M | $76M | $74M | $69M | $82M | $52M | $57M | $49M | |
| Operating Expenses | $736M | $701M | $660M | $644M | $664M | $590M | $554M | $523M | $531M | $479M | $437M | $432M | $462M | $388M | $356M | $351M | |
| Operating Income | $180M | $95M | $92M | $111M | $191M | $100M | $109M | $81M | $164M | $73M | $96M | $70M | $123M | $70M | $79M | $61M | |
| Interest Expense | · | · | · | · | · | · | · | · | $31M | $29M | · | $31M | $29M | $29M | · | $29M | |
| Other Non-op | $25.0K | $711.0K | $56.0K | $402.0K | $-143.0K | $377.0K | $4M | $-17M | $-233.0K | $-2M | $-10M | $-67.0K | $-108.0K | $138.0K | $2M | $66.0K | |
| Pretax Income | $131M | $47M | $45M | $60M | $138M | $51M | $69M | $20M | $137M | $47M | $59M | $41M | $95M | $43M | $52M | $33M | |
| Income Tax | $22M | $7M | $13M | $-3M | $13M | $55M | $26M | $-9M | $19M | $6M | $673.0K | $25M | $12M | $6M | $6M | $3M | |
| Net Income | $42M | $18M | $8M | $31M | $52M | $-28M | $14M | $18M | $47M | $17M | $23M | $-5M | $30M | $13M | $18M | $12M | |
| EBITDA | $180M | $95M | · | $111M | $191M | $100M | · | $81M | $164M | $73M | · | $70M | $123M | $70M | · | $61M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $140M | $155M | $158M | $153M | $173M | $204M | $540M | $235M | $1.74B | $1.62B | $839M | $1.60B | $1.95B | $1.47B | $993M | $1.54B | |
| Receivables | $698M | $565M | $489M | $440M | $529M | $432M | $390M | $335M | $384M | $299M | · | $239M | $301M | $235M | · | $187M | |
| Prepaid Expense | · | $15M | $14M | $10M | $10M | $9M | $9M | $8M | $8M | $8M | · | $10M | $8M | $8M | · | $8M | |
| Other Current Assets | $80M | $79M | $100M | $96M | $81M | $75M | $110M | $84M | $67M | $62M | · | $63M | $57M | $46M | · | $25M | |
| Current Assets | $6.64B | $5.58B | $5.06B | $4.45B | $5.27B | $4.61B | $4.79B | $4.02B | $5.12B | $4.22B | · | $3.59B | $4.66B | $3.47B | · | $3.20B | |
| PP&E (Net) | $65M | $66M | $69M | $70M | $66M | $60M | $50M | $46M | $46M | $43M | · | $32M | $33M | $32M | · | $23M | |
| Goodwill | $3.22B | $3.22B | $3.23B | $3.13B | $3.09B | $3.02B | $2.65B | $2.34B | $1.81B | $1.65B | $1.65B | $1.58B | $1.38B | $1.38B | $1.31B | $1.31B | |
| Intangibles | $127M | $127M | $120M | $111M | $102M | $98M | $84M | $69M | $54M | $45M | · | $592M | $494M | $515M | · | $501M | |
| Other Non-current Assets | $10M | $11M | $15M | $14M | $15M | $15M | $19M | $33M | $42M | $42M | · | $57M | $58M | $48M | · | $57M | |
| Total Assets | $11.97B | $11.01B | $10.56B | $9.85B | $10.63B | $9.89B | $9.65B | $8.48B | $8.27B | $7.12B | · | $6.43B | $7.24B | $6.05B | · | $5.69B | |
| Accounts Payable | $341M | $342M | $284M | $257M | $196M | $197M | $249M | $206M | $172M | $231M | · | $115M | $96M | $74M | · | $82M | |
| Current Liabilities | $6.66B | $5.46B | $5.19B | $4.46B | $5.23B | $4.40B | $4.55B | $3.97B | $4.70B | $3.68B | · | $2.98B | $3.83B | $2.77B | · | $2.52B | |
| Capital Leases | $147M | $146M | $153M | $159M | $157M | $156M | $159M | $148M | $149M | $148M | · | $157M | $162M | $151M | · | $135M | |
| Deferred Tax | $46M | $47M | $50M | $38M | $41M | $39M | $40M | $21M | · | · | · | $126.0K | $208.0K | $618.0K | · | $624.0K | |
| Other Non-current Liabilities | $16M | $97M | $98M | $93M | $98M | $106M | $87M | $110M | $6M | $5M | · | $36M | $25M | $23M | · | $20M | |
| Total Liabilities | $10.95B | $9.79B | $9.31B | $8.62B | $9.44B | $8.83B | $8.55B | $7.38B | $7.20B | $6.14B | · | $5.48B | $6.29B | $5.20B | · | $4.93B | |
| Long-term Debt | · | · | $3.35B | · | · | · | · | · | · | · | · | · | · | · | · | $1.98B | |
| Total Debt | $3.57B | $3.53B | · | $3.35B | $3.41B | $3.65B | · | $2.65B | $1.94B | $1.94B | · | $1.95B | $1.95B | $1.95B | · | $1.95B | |
| Paid-in Capital | $356M | $506M | $514M | $490M | $479M | $458M | $506M | $501M | $478M | $459M | · | $442M | $453M | $437M | · | $402M | |
| Retained Earnings | $145M | $121M | $120M | $129M | $115M | $79M | $123M | $125M | $122M | $89M | · | $92M | $97M | $67M | · | $36M | |
| AOCI | $8M | $9M | $14M | $11M | $15M | $4M | $-2M | $7M | $6M | $6M | · | $8M | $9M | $4M | · | $4M | |
| Stockholders' Equity | $509M | $636M | $648M | $630M | $610M | $543M | $628M | $633M | $606M | $554M | · | $543M | $944M | $852M | · | $758M | |
| Liabilities + Equity | $11.97B | $11.01B | $10.56B | $9.85B | $10.63B | $9.89B | $9.65B | $8.48B | $8.27B | $7.12B | · | $6.43B | $7.24B | $6.05B | · | $5.69B |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $21M | $17M | $18M | $11M | $20M | $20M | $17M | $23M | $21M | $17M | $16M | $18M | $19M | $18M | $16M | $18M | |
| Deferred Tax | $17M | $3M | $15M | $2M | $7M | $3M | $19M | $-17M | $13M | $2M | $-5M | $-108.0K | $9M | $3M | $4M | $11M | |
| Restructuring | $41M | $10M | · | · | · | · | $16M | $15M | $16M | $35M | · | $21M | $17M | $3M | · | $2M | |
| Operating Cash Flow | $293M | $-167M | $263M | $170M | $354M | $-143M | $260M | $101M | $271M | $-117M | $227M | $105M | $304M | $-159M | $185M | $-14M | |
| CapEx | $2M | $0 | $0 | $2M | $0 | $664.0K | $0 | $0 | $0 | $0 | · | · | · | · | $8M | · | |
| Investing Cash Flow | $-19M | $-13M | $-127M | $-88M | $-46M | $-573M | $-469M | $-1.05B | $-229M | $-8M | $-94M | $-273M | $-4M | $-105M | $-11M | $-5M | |
| Stock Repurchased | $260M | $40M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-40M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $16M | $17M | $16M | $15M | $15M | $15M | · | $13M | $13M | $40M | · | · | $0 | $0 | · | · | |
| Financing Cash Flow | $4M | $86M | $73M | $-229M | $-102M | $337M | $542M | $553M | $82M | $-10M | $19M | $-183M | $180M | $-30M | $54M | $-119M | |
| Net Change in Cash | $278M | $-100M | $211M | $-145M | $207M | $-369M | $325M | $-388M | $123M | $-135M | $153M | $-350M | $479M | $-294M | $229M | $-140M | |
| Taxes Paid | $-11M | $-2M | $6M | $2M | $6M | $530.0K | $3M | $14M | $6M | $4M | $7M | $5M | $4M | $1M | · | · | |
| Free Cash Flow | · | $-167M | · | · | · | $-143M | · | · | · | · | · | · | · | · | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 19.7% | 11.9% | · | 14.7% | 22.3% | 14.5% | · | 13.5% | 23.6% | 13.2% | · | 13.9% | 21.0% | 15.3% | · | 14.9% | |
| Net Margin | 4.6% | 2.2% | · | 4.1% | 6.1% | -4.0% | · | 2.9% | 6.7% | 3.0% | · | -1.0% | 5.1% | 2.9% | · | 2.9% | |
| Pretax Margin | 14.3% | 5.9% | · | 7.9% | 16.1% | 7.4% | · | 3.2% | 19.7% | 8.5% | · | 8.1% | 16.3% | 9.3% | · | 7.9% | |
| EBITDA Margin | 19.7% | 11.9% | · | 14.7% | 22.3% | 14.5% | · | 13.5% | 23.6% | 13.2% | · | 13.9% | 21.0% | 15.3% | · | 14.9% | |
| ROA | 0.37% | 0.17% | · | 0.34% | 0.55% | -0.33% | · | 0.24% | 0.60% | 0.25% | · | -0.08% | 0.44% | 0.23% | · | 0.22% | |
| ROE | 7.6% | 3.0% | · | 4.9% | 8.6% | -5.0% | · | 3.0% | 6.0% | 2.4% | · | -0.78% | 3.7% | 1.8% | · | 1.8% | |
| ROIC | 3.7% | 2.0% | · | 2.9% | 4.3% | -0.21% | · | 3.6% | 5.6% | 2.5% | · | 1.1% | 3.7% | 2.1% | · | 2.0% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | 1.1 | 1.1 | · | 1.2 | 1.2 | 1.3 | · | 1.3 | |
| Quick Ratio | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.5 | 0.5 | · | 0.6 | 0.6 | 0.6 | · | 0.7 | |
| Debt / Equity | 7.0 | 5.6 | · | 5.3 | 5.6 | 6.7 | · | 4.2 | 3.2 | 3.5 | · | 3.6 | 2.1 | 2.3 | · | 2.6 | |
| LT Debt / Equity | 7.0 | 5.6 | · | 5.3 | 5.6 | 6.7 | · | 4.2 | 3.2 | 3.5 | · | 3.6 | 2.1 | 2.3 | · | 2.6 | |
| Interest Coverage | · | · | · | · | · | · | · | · | 5.3 | 2.5 | · | 2.2 | 4.3 | 2.4 | · | 2.1 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.5 | 1.6 | · | 1.9 | 1.9 | 1.9 | · | 2.1 | 2.0 | 2.1 | · | 2.4 | 2.1 | 2.2 | · | 2.3 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend / Share | $0.13 | $0.13 | · | $0.12 | $0.12 | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.22B | $3.16B | · | $2.96B | $2.81B | $2.65B | · | $2.39B | $2.28B | $2.17B | · | $1.98B | $1.89B | $1.80B | · | $1.67B | |
| Net Income TTM | $99M | $109M | · | $69M | $56M | $50M | · | $104M | $81M | $64M | · | $56M | $73M | $67M | · | $53M | |
| Payout Ratio | · | 94.6% | · | · | · | -54.6% | · | · | · | 242.0% | · | · | · | · | · | · | |
| Annual Payout | $64M | $63M | · | · | · | · | · | · | · | · | · | · | · | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $3.05B | $2.52B | $2.08B | $1.73B | $1.43B |
| Operating Margin % | 16.2% | 17.0% | 17.3% | 16.8% | 13.0% |
| Net Income | $63M | $95M | $61M | $61M | $66M |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 5.1 | 5.1 | 3.5 | 2.4 | 2.6 |
| Current Ratio | 1.0 | 1.1 | 1.2 | 1.2 | 1.0 |
| Quick Ratio | 0.1 | 0.2 | 0.5 | 0.6 | 0.5 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $641M | $515M | $477M | $328M | $-70M |
Institutional owners (13F) 385 filers · $4.6B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
385
Value held
$4.6B
New positions
77
Exited positions
69
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 77 (-5 vs prior Q) | 69 (-17 vs prior Q) | 120 (-20 vs prior Q) | 131 (+29 vs prior Q) | +6.6M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $528,264,581 | 10,231,737 | 11.48% | Shares |
| BlackRock, Inc. | $396,265,762 | 10,494,326 | 8.61% | Shares |
| Vulcan Value Partners, LLC | $298,782,388 | 7,912,669 | 6.49% | Shares |
| Orbis Allan Gray Ltd | $238,184,227 | 6,307,845 | 5.17% | Shares |
| NEUBERGER BERMAN GROUP LLC | $210,499,399 | 5,572,840 | 4.57% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $198,877,124 | 5,266,873 | 4.32% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $197,033,719 | 5,218,054 | 4.28% | Shares |
| FMR LLC | $193,716,765 | 5,130,211 | 4.21% | Shares |
| STATE STREET CORP | $139,940,750 | 3,706,058 | 3.04% | Shares |
| Polar Capital Holdings Plc | $111,014,400 | 2,940,000 | 2.41% | Shares |
| BANK OF MONTREAL /CAN/ | $104,486,186 | 2,767,113 | 2.27% | Shares |
| Stephens Investment Management Group LLC | $102,574,436 | 2,716,484 | 2.23% | Shares |
| MONTRUSCO BOLTON INVESTMENTS INC. | $101,537,811 | 2,689,031 | 2.21% | Shares |
| Independent Franchise Partners LLP | $99,904,992 | 2,645,789 | 2.17% | Shares |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $88,491,064 | 2,343,513 | 1.92% | Shares |
| UBS Group AG | $83,112,970 | 2,201,085 | 1.81% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $80,258,314 | 2,124,953 | 1.74% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $76,064,008 | 2,014,407 | 1.65% | Shares |
| MORGAN STANLEY | $63,543,703 | 1,682,829 | 1.38% | Shares |
| NORGES BANK | $58,393,688 | 1,546,443 | 1.27% | Shares |
| Alberta Investment Management Corp | $53,672,064 | 1,421,400 | 1.17% | Shares |
| Fenimore Asset Management Inc | $49,337,443 | 1,306,606 | 1.07% | Shares |
| Focus Partners Wealth | $48,070,878 | 1,272,983 | 1.04% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $47,932,922 | 1,269,410 | 1.04% | Shares |
| JPMORGAN CHASE & CO | $45,419,561 | 1,155,677 | 0.99% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $45,415,350 | 1,202,737 | 0.99% | Shares |
| Bank of New York Mellon Corp | $42,528,679 | 1,126,289 | 0.92% | Shares |
| GOLDMAN SACHS GROUP INC | $37,505,827 | 993,269 | 0.81% | Shares |
| BANK OF AMERICA CORP /DE/ | $36,593,255 | 969,101 | 0.80% | Shares |
| LOOMIS SAYLES & CO L P | $36,184,464 | 958,275 | 0.79% | Shares |
| NORTHERN TRUST CORP | $34,695,813 | 918,851 | 0.75% | Shares |
| Champlain Investment Partners, LLC | $29,371,880 | 777,857 | 0.64% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $27,422,747 | 726,238 | 0.60% | Shares |
| Zimmer Partners, LP | $27,376,000 | 725,000 | 0.59% | Shares |
| Clarkston Capital Partners, LLC | $26,837,731 | 710,745 | 0.58% | Shares |
| GENEVA CAPITAL MANAGEMENT LLC | $20,519,351 | 543,415 | 0.45% | Shares |
| BLAIR WILLIAM & CO/IL | $19,192,294 | 508,270 | 0.42% | Shares |
| WATERS PARKERSON & CO., LLC | $19,186,649 | 508,121 | 0.42% | Shares |
| GUARDIAN POINT CAPITAL, LP | $18,880,000 | 500,000 | 0.41% | Shares |
| Gotham Asset Management, LLC | $18,246,878 | 483,233 | 0.40% | Shares |
| Mawer Investment Management Ltd. | $17,744,141 | 469,919 | 0.39% | Shares |
| DUDLEY & SHANLEY, INC. | $17,563,913 | 465,146 | 0.38% | Shares |
| SEI INVESTMENTS CO | $16,930,464 | 448,353 | 0.37% | Shares |
| 2Xideas AG | $13,047,062 | 345,526 | 0.28% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $12,561,854 | 332,675 | 0.27% | Shares |
| WELLS FARGO & COMPANY/MN | $12,284,037 | 325,319 | 0.27% | Shares |
| Invesco Ltd. | $11,756,274 | 311,342 | 0.26% | Shares |
| Ceredex Value Advisors LLC | $11,594,208 | 307,050 | 0.25% | Shares |
| CONFLUENCE INVESTMENT MANAGEMENT LLC | $11,512,189 | 311,140 | 0.25% | Shares |
| Bellecapital International Ltd. | $11,483,722 | 304,124 | 0.25% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Onex Corporation, Onex RSG LP, Onex RSG Holdings LP, Onex RSG GP Inc., Onex Private Equity Holdings LLC, Gerald W. Schwartz ×3 filings | March 14, 2024 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 24 insiders · 10 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Benjamin Miles Wuller | CEO RSUM | May 5, 2026 A | 94,095 | 0 | 0 | $0 |
| Timothy William Turner | Chief Executive Officer | May 5, 2026 A | 12,553 | 0 | 1 | $-6,946,248 |
| Janice M Hamilton | Chief Financial Officer | July 22, 2026 M | 18,689 | 1 | 0 | $200,277 |
| Brendan Martin Mulshine | Co-President and CRO | Sept. 4, 2026 C | 75,366 | 0 | 1 | $-1,620,400 |
| Stephen Patrick Keogh | Co-President and COO | Aug. 4, 2026 A | · | 0 | 0 | $0 |
| Jeremiah Rawlins Bickham | President | May 16, 2025 S | 2,159 | 0 | 0 | $0 |
| Michael Thomas Vanacker | Executive Vice President and Chief Operating Officer | March 6, 2023 C | 0 | 0 | 0 | $0 |
| Michael Conklin | EVP & CHRO | Aug. 13, 2026 S | 8,153 | 0 | 1 | $-86,337 |
| Mark Stephen Katz | EVP & General Counsel | June 3, 2026 P | 4,332 | 1 | 0 | $99,890 |
| Lisa Jo Paschal-Alcorn | Senior Vice President and Chief Human Resource Officer | Aug. 16, 2023 S | 3,660 | 0 | 0 | $0 |
| Nicholas Dominic Cortezi | Director | Aug. 14, 2026 J | 313,116 | 0 | 0 | $0 |
| Anthony J Kuczinski | Director | June 12, 2026 P | 13,072 | 2 | 0 | $104,960 |
| John W Rogers JR | Director | June 10, 2026 P | 117,933 | 1 | 0 | $263,700 |
| Francesca Cornelli | Director | April 28, 2026 A | 10,377 | 0 | 0 | $0 |
| David P Bolger | Director | April 28, 2026 A | 20,580 | 0 | 0 | $0 |
| Patrick G Ryan JR | Director | April 28, 2026 A | 262,316 | 3 | 0 | $1,033,975 |
| COLLINS MICHELLE L | Director | April 28, 2026 A | 19,219 | 0 | 0 | $0 |
| Michael D Ohalleran | Director | April 28, 2026 A | 238,963 | 0 | 0 | $0 |
| Cameron D Findlay | Director | May 30, 2025 A | 73,728 | 0 | 0 | $0 |
| William J Devers JR | Director | May 1, 2023 A | 30,004 | 0 | 0 | $0 |
| Andrew J Mckenna | Director | June 7, 2022 A | 127,190 | 0 | 0 | $0 |
| Henry S Bienen | · | Aug. 10, 2026 G | 24,795 | 0 | 0 | $0 |
| Patrick G Ryan | · | Aug. 4, 2026 D | 13,817,859 | 1 | 0 | $3,900,000 |
| Michael G Bungert | · | April 28, 2026 A | 4,615 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 56 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| CBLS · Elevation Series Trust | 2.20% | 27,746 NS | July 31, 2026 | N-PORT |
| CBSE · Elevation Series Trust | 2.19% | 25,689 NS | July 31, 2026 | N-PORT |
| KBWP · Invesco Exchange-Traded Fund Trust … | 1.32% | 95,110 SH | Oct. 2, 2026 | Daily |
| EQTY · Valued Advisers Trust | 1.27% | 409,551 NS | July 31, 2026 | N-PORT |
| FFSM · FIDELITY COVINGTON TRUST | 0.64% | 216,948 NS | July 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.19% | 29,573 NS | July 31, 2026 | N-PORT |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.19% | 24,308 NS | July 31, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.15% | 74,196 SH | Aug. 19, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.14% | 12,654 NS | July 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.14% | 20,572 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.14% | 34,529 SH | Sept. 11, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.13% | 42,780 SH | Oct. 2, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.12% | 1,545,249 SH | Aug. 19, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.12% | 183,828 SH | Aug. 19, 2026 | Daily |
| MIDU · Direxion Shares ETF Trust | 0.11% | 1,673 NS | July 31, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.08% | 33,276 SH | Aug. 19, 2026 | Daily |
| IYF · iShares Trust | 0.07% | 76,462 SH | Sept. 11, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.07% | 13,629 SH | Oct. 2, 2026 | Daily |
| SMMD · iShares Trust | 0.06% | 59,990 SH | Sept. 11, 2026 | Daily |
| ESML · iShares Trust | 0.06% | 41,409 SH | Sept. 11, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.06% | 7,299 NS | July 31, 2026 | N-PORT |
| FNCL · FIDELITY COVINGTON TRUST | 0.05% | 28,956 NS | July 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.05% | 36,872 SH | Oct. 2, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.05% | 1,308,245 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.05% | 2,669,154 SH | Aug. 19, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.05% | 179,691 SH | Aug. 19, 2026 | Daily |
| RILA · Spinnaker ETF Series | 0.04% | 402 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.04% | 6,550 SH | Sept. 11, 2026 | Daily |
| IWS · iShares Trust | 0.04% | 144,277 SH | Sept. 11, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.03% | 111,998 NS | July 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.03% | 457,822 SH | Sept. 11, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.02% | 445,120 SH | Aug. 19, 2026 | Daily |
| HAPI · Harbor ETF Trust | 0.02% | 2,139 NS | July 31, 2026 | N-PORT |
| IWP · iShares Trust | 0.02% | 92,918 SH | Sept. 11, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.01% | 1,542 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 3,705,043 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.01% | 18,557 SH | Aug. 19, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 57,189 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 9,547 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.01% | 25,061 SH | Aug. 19, 2026 | Daily |
| IWD · iShares Trust | 0.01% | 209,912 SH | Sept. 11, 2026 | Daily |
| IUSG · iShares Trust | 0.01% | 66,831 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 3,476 NS | July 31, 2026 | N-PORT |
| IWB · iShares Trust | 0.01% | 77,548 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.01% | 149,612 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.01% | 4,584 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 27,535 SH | Sept. 11, 2026 | Daily |
| IUSV · iShares Trust | 0.00% | 33,952 SH | Sept. 11, 2026 | Daily |
| IWF · iShares Trust | 0.00% | 60,745 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 85,131 SH | Aug. 19, 2026 | Daily |
| VONG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 26,005 SH | Aug. 19, 2026 | Daily |
| IJH · iShares Trust | · | 3,997,581 SH | Sept. 11, 2026 | Daily |
| IJK · iShares Trust | · | 435,296 SH | Sept. 11, 2026 | Daily |
| IJJ · iShares Trust | · | 197,704 SH | Aug. 25, 2026 | Daily |
| XJH · iShares Trust | · | 15,604 SH | Sept. 8, 2026 | Daily |
| ISCB · iShares Trust | · | 4,917 SH | Sept. 11, 2026 | Daily |
RYAN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 26 analysts
BUY
Median target
$48.00
+27.4%
5 19.2%
Strong Buy
9 34.6%
Buy
11 42.3%
Hold
1 3.8%
Sell
0 0.0%
Strong Sell
12-Month Price Target
16 analysts · 2026-09-28Mean target $50.53 +34.1%
Now
Current price $37.67
Low$34.00
Mean$50.53
High$76.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RYAN | · | · | 21.3% | 2.1% | 9.9% | · |
| MRSH | $89.98B | 22.0 | 10.3% | 15.4% | 28.1% | · |
| AJG | $66.51B | 45.1 | 20.7% | 10.7% | 6.9% | · |
| BRO | $26.78B | 25.2 | 22.8% | 17.9% | 8.7% | · |
| HGTY | · | · | 17.3% | 10.2% | 80.3% | · |
| BWIN | · | -48.1 | 8.3% | -2.2% | -5.7% | · |
| LIFE | · | · | 52.0% | 18.4% | -108.4% | · |
| GSHD | · | 70.8 | 16.2% | 7.6% | -107.8% | · |
| TWFG | · | 54.3 | 22.0% | · | · | · |
| ABX | $833M | 23.8 | 110.2% | 15.5% | 8.8% | 87.7% |
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Source: SEC 10-Q filed Jul 31, 2026