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Ryan Specialty (RYAN) Financials

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$73.08 -1.12 (-1.51%)
Closing price 03:59 PM Eastern
Extended Trading
$73.09 +0.01 (+0.02%)
As of 04:20 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Ryan Specialty

Annual Income Statements for Ryan Specialty

This table shows Ryan Specialty's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders
64 68 66 61 61 95
Consolidated Net Income / (Loss)
63 71 57 163 194 230
Net Income / (Loss) Continuing Operations
63 71 57 163 194 230
Total Pre-Tax Income
68 79 62 179 238 273
Total Operating Income
101 159 187 290 359 428
Total Gross Profit
765 1,018 1,433 1,725 2,078 2,516
Total Revenue
765 1,018 1,433 1,725 2,078 2,516
Operating Revenue
765 1,018 1,433 1,725 2,078 2,516
Total Cost of Revenue
0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses
664 860 1,246 1,436 1,718 2,088
Selling, General & Admin Expense
118 107 139 197 276 352
Depreciation Expense
4.80 3.93 4.81 5.69 9.04 9.79
Amortization Expense
48 64 108 104 107 158
Other Operating Expenses / (Income)
494 686 992 1,129 1,321 1,591
Other Special Charges / (Income)
-1.60 -1.30 2.89 0.44 5.42 -23
Total Other Income / (Expense), net
-33 -79 -125 -110 -121 -155
Interest & Investment Income
-0.98 0.44 -0.76 -105 -111 -140
Other Income / (Expense), net
3.47 -32 -45 -5.07 -10 -15
Income Tax Expense
4.93 8.95 4.93 16 43 43
Net Income / (Loss) Attributable to Noncontrolling Interest
-1.11 2.41 -9.24 102 133 135
Basic Earnings per Share
$0.00 $0.00 ($0.07) $0.57 $0.53 $0.78
Weighted Average Basic Shares Outstanding
0.00 0.00 105.73M 108.62M 114.36M 120.78M
Diluted Earnings per Share
$0.00 $0.00 ($0.07) $0.52 $0.52 $0.71
Weighted Average Diluted Shares Outstanding
0.00 0.00 105.73M 265.75M 125.75M 132.89M
Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 105.73M 519.30M 520.45M 261.91M
Cash Dividends to Common per Share
- - - - - $0.04

Quarterly Income Statements for Ryan Specialty

This table shows Ryan Specialty's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders
12 18 13 30 -5.05 23 17 47 18 14
Consolidated Net Income / (Loss)
29 46 36 84 16 59 41 118 29 43
Net Income / (Loss) Continuing Operations
29 46 36 84 16 59 41 118 29 43
Total Pre-Tax Income
33 52 43 95 41 59 47 137 20 69
Total Operating Income
61 79 70 123 70 96 73 164 81 109
Total Gross Profit
412 435 458 585 502 533 552 695 605 664
Total Revenue
412 435 458 585 502 533 552 695 605 664
Operating Revenue
412 435 458 585 502 533 552 695 605 664
Total Operating Expenses
351 356 388 462 432 437 479 531 523 554
Selling, General & Admin Expense
49 57 52 82 69 74 76 83 89 105
Depreciation Expense
1.46 1.79 2.19 2.18 2.20 2.47 2.08 2.27 2.47 2.97
Amortization Expense
26 25 25 24 30 28 28 31 39 60
Other Operating Expenses / (Income)
274 271 308 352 329 332 374 414 393 410
Other Special Charges / (Income)
0.42 1.28 0.71 1.80 1.85 1.06 -0.07 1.24 -0.37 -24
Total Other Income / (Expense), net
-29 -28 -27 -27 -29 -37 -26 -28 -62 -40
Interest & Investment Income
0.14 -105 2.00 1.62 -29 -85 5.61 3.72 -45 -104
Other Income / (Expense), net
0.07 1.76 0.14 -0.11 -0.07 -10 -1.75 -0.23 -17 3.53
Income Tax Expense
3.41 5.86 6.30 12 25 0.67 6.43 19 -8.96 26
Net Income / (Loss) Attributable to Noncontrolling Interest
18 28 23 54 21 36 24 71 11 29
Basic Earnings per Share
$0.11 $0.16 $0.12 $0.27 ($0.04) $0.18 $0.14 $0.38 $0.15 $0.11
Weighted Average Basic Shares Outstanding
109.43M 108.62M 111.03M 112.92M 115.87M 114.36M 117.81M 118.39M 121.92M 120.78M
Diluted Earnings per Share
$0.09 $0.15 $0.11 $0.26 ($0.04) $0.19 $0.13 $0.37 $0.09 $0.12
Weighted Average Diluted Shares Outstanding
266.35M 265.75M 266.98M 123.85M 115.87M 125.75M 269.92M 271.22M 272.69M 132.89M
Weighted Average Basic & Diluted Shares Outstanding
519.21M 519.30M 519.56M 520.43M 520.50M 520.45M 520.89M 522.90M 261.84M 261.91M

Annual Cash Flow Statements for Ryan Specialty

This table details how cash moves in and out of Ryan Specialty's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents
237 492 244 628 -11 -76
Net Cash From Operating Activities
150 135 273 336 477 515
Net Cash From Continuing Operating Activities
165 135 273 336 477 515
Net Income / (Loss) Continuing Operations
63 71 57 163 194 230
Consolidated Net Income / (Loss)
63 71 57 163 194 230
Depreciation Expense
4.80 3.93 4.81 5.69 9.04 9.79
Amortization Expense
50 69 119 120 126 189
Non-Cash Adjustments To Reconcile Net Income
28 34 123 112 103 99
Changes in Operating Assets and Liabilities, net
20 -41 -31 -66 45 -13
Net Cash From Investing Activities
-148 -769 -458 -22 -476 -1,756
Net Cash From Continuing Investing Activities
-148 -769 -458 -22 -476 -1,756
Purchase of Property, Plant & Equipment
-8.09 -18 -353 -23 -30 -47
Acquisitions
-121 -718 -109 0.00 -447 -1,709
Other Investing Activities, net
-8.51 -9.31 3.89 0.34 0.23 0.00
Net Cash From Financing Activities
62 1,125 429 315 -13 1,167
Net Cash From Continuing Financing Activities
220 1,125 429 315 -13 1,167
Repayment of Debt
-267 -983 -20 -19 -17 -1,284
Payment of Dividends
- - - -40 -72 -185
Issuance of Debt
421 1,956 0.00 394 0.00 2,545
Other Financing Activities, net
66 152 44 -20 76 91
Effect of Exchange Rate Changes
0.27 - - -0.13 0.58 -1.51

Quarterly Cash Flow Statements for Ryan Specialty

This table details how cash moves in and out of Ryan Specialty's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents
-140 229 -294 479 -350 153 -135 123 -388 325
Net Cash From Operating Activities
-14 185 -159 304 105 227 -117 271 101 260
Net Cash From Continuing Operating Activities
-14 185 -159 304 105 227 -117 271 101 260
Net Income / (Loss) Continuing Operations
29 46 36 84 16 59 41 118 29 43
Consolidated Net Income / (Loss)
29 46 36 84 16 59 41 118 29 43
Depreciation Expense
1.46 1.79 2.19 2.18 2.20 2.47 2.08 2.27 2.47 2.97
Amortization Expense
30 30 30 29 34 32 33 35 56 64
Non-Cash Adjustments To Reconcile Net Income
27 16 18 19 41 24 13 23 38 25
Changes in Operating Assets and Liabilities, net
-102 91 -246 169 12 109 -205 92 -25 125
Net Cash From Investing Activities
-4.90 -11 -105 -4.42 -273 -94 -7.63 -229 -1,050 -469
Net Cash From Continuing Investing Activities
-4.90 -11 -105 -4.42 -273 -94 -7.63 -229 -1,050 -469
Purchase of Property, Plant & Equipment
-5.23 -11 -2.79 -2.57 -11 -14 -7.63 -15 -7.10 -17
Acquisitions
- - -102 -1.87 -262 -81 0.00 -214 -1,043 -452
Net Cash From Financing Activities
-119 54 -30 180 -183 19 -10 82 553 542
Net Cash From Continuing Financing Activities
-119 54 -30 180 -183 19 -10 82 553 542
Repayment of Debt
-4.13 -4.16 -4.13 -4.13 -4.13 -4.13 0.00 -8.25 -867 -409
Payment of Dividends
-6.46 -7.21 -0.26 -34 -18 -19 -46 -63 -40 -36
Issuance of Debt
- - - - - - - - - 992
Other Financing Activities, net
-109 66 -25 219 -161 43 35 154 -93 -5.87
Effect of Exchange Rate Changes
-1.63 1.15 0.09 -0.74 -0.17 1.41 -0.66 -1.35 7.65 -7.16

Annual Balance Sheets for Ryan Specialty

This table presents Ryan Specialty's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Total Assets
4,529 5,459 6,384 7,247 9,650
Total Current Assets
2,493 3,011 3,894 4,336 4,789
Cash & Equivalents
313 387 993 839 540
Accounts Receivable
178 210 231 294 390
Prepaid Expenses
8.84 7.73 8.58 8.72 9.22
Other Current Assets
1,994 2,406 2,661 3,194 3,850
Plant, Property, & Equipment, net
17 15 31 42 50
Total Noncurrent Assets
2,019 2,432 2,458 2,869 4,811
Long-Term Investments
47 45 39 46 71
Goodwill
1,224 1,309 1,315 1,646 2,647
Intangible Assets
605 574 486 611 1,476
Noncurrent Deferred & Refundable Income Taxes
0.00 383 397 384 448
Other Noncurrent Operating Assets
142 121 222 182 169
Total Liabilities & Shareholders' Equity
4,529 5,459 6,384 7,247 9,650
Total Liabilities
4,219 4,864 5,566 6,268 8,552
Total Current Liabilities
2,482 2,918 3,134 3,744 4,549
Short-Term Debt
19 23 31 35 52
Accounts Payable
116 99 119 136 249
Accrued Expenses
350 386 350 420 486
Other Current Liabilities
1,998 2,409 2,634 3,153 3,762
Total Noncurrent Liabilities
1,736 1,946 2,432 2,523 4,003
Long-Term Debt
1,566 1,567 1,952 1,944 3,231
Noncurrent Deferred & Payable Income Tax Liabilities
0.58 273 295 359 476
Noncurrent Employee Benefit Liabilities
69 4.37 10 25 49
Other Noncurrent Operating Liabilities
100 102 174 196 246
Total Equity & Noncontrolling Interests
71 595 818 980 1,098
Total Preferred & Common Equity
70 344 478 560 628
Preferred Stock
0.00 0.00 0.00 0.00 0.00
Total Common Equity
70 344 478 560 628
Common Stock
67 349 418 442 507
Retained Earnings
0.00 -7.06 54 114 123
Accumulated Other Comprehensive Income / (Loss)
2.70 1.71 6.04 3.08 -1.80
Noncontrolling Interest
1.30 251 339 420 471

Quarterly Balance Sheets for Ryan Specialty

This table presents Ryan Specialty's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Total Assets
5,688 6,047 7,236 6,426 7,117 8,272 8,479
Total Current Assets
3,200 3,469 4,659 3,586 4,216 5,123 4,019
Cash & Equivalents
833 705 966 754 665 612 235
Accounts Receivable
187 235 301 239 299 384 335
Prepaid Expenses
7.78 8.35 8.00 9.58 8.15 8.05 8.31
Other Current Assets
2,171 2,521 3,384 2,584 3,244 4,118 3,441
Plant, Property, & Equipment, net
23 32 33 32 43 46 46
Total Noncurrent Assets
2,466 2,546 2,544 2,807 2,857 3,104 4,413
Long-Term Investments
39 41 44 45 56 59 62
Goodwill
1,314 1,379 1,379 1,582 1,647 1,815 2,341
Intangible Assets
501 515 494 592 592 673 1,353
Noncurrent Deferred & Refundable Income Taxes
399 402 415 383 383 379 486
Other Noncurrent Operating Assets
213 209 212 205 180 179 171
Total Liabilities & Shareholders' Equity
5,688 6,047 7,236 6,426 7,117 8,272 8,479
Total Liabilities
4,930 5,195 6,292 5,485 6,142 7,199 7,377
Total Current Liabilities
2,518 2,767 3,827 2,982 3,677 4,696 3,966
Short-Term Debt
29 22 31 36 39 33 33
Accounts Payable
82 74 96 115 231 172 206
Accrued Expenses
233 158 337 273 184 398 325
Current Deferred & Payable Income Tax Liabilities
- - - 17 22 22 23
Other Current Liabilities
2,174 2,512 3,364 2,541 3,201 4,071 3,379
Total Noncurrent Liabilities
2,413 2,429 2,464 2,503 2,464 2,503 3,411
Long-Term Debt
1,953 1,950 1,949 1,945 1,943 1,941 2,647
Noncurrent Deferred & Payable Income Tax Liabilities
295 288 310 342 339 345 454
Noncurrent Employee Benefit Liabilities
9.07 16 18 22 30 62 52
Other Noncurrent Operating Liabilities
155 174 187 193 153 156 259
Total Equity & Noncontrolling Interests
758 852 944 941 975 1,073 1,102
Total Preferred & Common Equity
443 509 559 543 554 606 633
Preferred Stock
- - - 0.00 0.00 0.00 0.00
Total Common Equity
443 509 559 543 554 606 633
Common Stock
402 437 453 443 460 478 501
Retained Earnings
36 67 97 92 89 122 125
Accumulated Other Comprehensive Income / (Loss)
4.37 4.28 8.53 8.24 6.10 5.90 7.08
Noncontrolling Interest
315 343 385 398 420 467 469

Annual Metrics and Ratios for Ryan Specialty

This table displays calculated financial ratios and metrics derived from Ryan Specialty's official financial filings.

Metric 2019 2020 2021 2022 2023 2024
Growth Metrics
- - - - - -
Revenue Growth
0.00% 33.09% 40.71% 20.41% 20.42% 21.09%
EBITDA Growth
0.00% 24.89% 33.69% 54.45% 17.85% 26.39%
EBIT Growth
0.00% 20.82% 12.20% 100.76% 22.59% 18.37%
NOPAT Growth
0.00% 50.11% 22.03% 53.64% 11.28% 22.95%
Net Income Growth
0.00% 11.82% -19.69% 188.28% 19.13% 18.22%
EPS Growth
0.00% 0.00% 0.00% 842.86% 0.00% 36.54%
Operating Cash Flow Growth
0.00% -9.44% 102.00% 22.68% 42.23% 7.89%
Free Cash Flow Firm Growth
0.00% 0.00% 96.80% 654.09% -104.61% -11,620.62%
Invested Capital Growth
0.00% 0.00% 14.08% 0.95% 17.24% 81.78%
Revenue Q/Q Growth
0.00% 0.00% 0.00% 3.38% 4.94% 5.48%
EBITDA Q/Q Growth
0.00% 0.00% 0.00% 40.37% 1.75% 10.65%
EBIT Q/Q Growth
0.00% 0.00% 0.00% 69.12% 1.45% 6.96%
NOPAT Q/Q Growth
0.00% 0.00% 0.00% 10.02% 8.79% -7.05%
Net Income Q/Q Growth
0.00% 0.00% 0.00% 10.99% 7.00% -6.49%
EPS Q/Q Growth
0.00% 0.00% 0.00% 13.04% 8.33% -8.97%
Operating Cash Flow Q/Q Growth
0.00% 0.00% -4.87% 24.22% 9.74% 6.80%
Free Cash Flow Firm Q/Q Growth
0.00% 0.00% 0.00% 0.00% -172.86% -37.25%
Invested Capital Q/Q Growth
0.00% 0.00% 0.00% -5.32% -2.29% 8.22%
Profitability Metrics
- - - - - -
Gross Margin
100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin
20.80% 19.52% 18.55% 23.79% 23.28% 24.30%
Operating Margin
13.21% 15.57% 13.03% 16.78% 17.28% 17.01%
EBIT Margin
13.66% 12.40% 9.89% 16.49% 16.78% 16.41%
Profit (Net Income) Margin
8.24% 6.92% 3.95% 9.46% 9.36% 9.14%
Tax Burden Percent
92.75% 88.73% 91.99% 91.11% 81.74% 84.36%
Interest Burden Percent
65.05% 62.93% 43.45% 63.00% 68.23% 66.03%
Effective Tax Rate
7.25% 11.27% 8.01% 8.89% 18.26% 15.65%
Return on Invested Capital (ROIC)
0.00% 18.32% 10.44% 14.98% 15.28% 12.35%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% 6.86% 0.79% 5.45% 5.59% 5.40%
Return on Net Nonoperating Assets (RNNOA)
0.00% 27.07% 2.07% 8.13% 6.36% 9.78%
Return on Equity (ROE)
0.00% 45.39% 12.51% 23.11% 21.64% 22.13%
Cash Return on Invested Capital (CROIC)
0.00% -181.69% -2.71% 14.04% -0.59% -45.70%
Operating Return on Assets (OROA)
0.00% 2.79% 2.84% 4.80% 5.12% 4.89%
Return on Assets (ROA)
0.00% 1.56% 1.13% 2.76% 2.85% 2.72%
Return on Common Equity (ROCE)
0.00% 10.19% 5.71% 13.45% 12.50% 12.65%
Return on Equity Simple (ROE_SIMPLE)
0.00% 101.04% 16.47% 34.13% 34.74% 36.63%
Net Operating Profit after Tax (NOPAT)
94 141 172 264 294 361
NOPAT Margin
12.25% 13.82% 11.98% 15.29% 14.13% 14.35%
Net Nonoperating Expense Percent (NNEP)
0.00% 11.45% 9.65% 9.53% 9.68% 6.96%
Return On Investment Capital (ROIC_SIMPLE)
- - - 9.42% 9.92% 8.24%
Cost of Revenue to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue
15.45% 10.55% 9.70% 11.42% 13.29% 13.99%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
86.79% 84.43% 86.97% 83.22% 82.72% 82.99%
Earnings before Interest and Taxes (EBIT)
105 126 142 284 349 413
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
159 199 266 410 484 611
Valuation Ratios
- - - - - -
Price to Book Value (P/BV)
0.00 19.17 60.21 44.53 39.54 26.77
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
1.75 1.31 14.45 12.35 10.65 6.68
Price to Earnings (P/E)
20.85 19.64 314.21 348.95 362.64 177.47
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.87%
Earnings Yield
4.80% 5.09% 0.32% 0.29% 0.28% 0.56%
Enterprise Value to Invested Capital (EV/IC)
0.00 1.83 12.61 12.77 11.40 5.29
Enterprise Value to Revenue (EV/Rev)
0.00 2.75 15.43 13.10 11.38 7.93
Enterprise Value to EBITDA (EV/EBITDA)
0.00 14.11 83.19 55.05 48.89 32.62
Enterprise Value to EBIT (EV/EBIT)
0.00 22.21 156.03 79.44 67.82 48.31
Enterprise Value to NOPAT (EV/NOPAT)
0.00 19.93 128.77 85.66 80.57 55.26
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 20.71 80.83 67.34 49.56 38.73
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 91.40 0.00 0.00
Leverage & Solvency
- - - - - -
Debt to Equity
0.00 5.10 2.67 2.42 2.02 2.99
Long-Term Debt to Equity
0.00 5.04 2.63 2.39 1.98 2.94
Financial Leverage
0.00 3.94 2.63 1.49 1.14 1.81
Leverage Ratio
0.00 14.58 11.03 8.38 7.58 8.13
Compound Leverage Factor
0.00 9.17 4.79 5.28 5.17 5.37
Debt to Total Capital
0.00% 83.61% 72.78% 70.80% 66.89% 74.93%
Short-Term Debt to Total Capital
0.00% 1.01% 1.07% 1.09% 1.20% 1.18%
Long-Term Debt to Total Capital
0.00% 82.60% 71.70% 69.70% 65.70% 73.75%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 12.71% 11.49% 12.12% 14.19% 10.74%
Common Equity to Total Capital
0.00% 3.68% 15.73% 17.08% 18.92% 14.33%
Debt to EBITDA
0.00 7.98 5.98 4.83 4.09 5.37
Net Debt to EBITDA
0.00 6.17 4.36 2.32 2.26 4.37
Long-Term Debt to EBITDA
0.00 7.88 5.90 4.76 4.02 5.29
Debt to NOPAT
0.00 11.27 9.26 7.52 6.74 9.10
Net Debt to NOPAT
0.00 8.71 6.74 3.61 3.73 7.40
Long-Term Debt to NOPAT
0.00 11.13 9.13 7.40 6.62 8.95
Altman Z-Score
0.00 0.51 2.92 2.87 2.68 1.63
Noncontrolling Interest Sharing Ratio
0.00% 77.54% 54.33% 41.80% 42.24% 42.86%
Liquidity Ratios
- - - - - -
Current Ratio
0.00 1.00 1.03 1.24 1.16 1.05
Quick Ratio
0.00 0.20 0.20 0.39 0.30 0.20
Cash Flow Metrics
- - - - - -
Free Cash Flow to Firm (FCFF)
0.00 -1,396 -45 247 -11 -1,335
Operating Cash Flow to CapEx
0.00% 763.47% 77.49% 1,474.33% 1,602.64% 1,095.44%
Free Cash Flow to Firm to Interest Expense
0.00 -29.54 -0.56 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
4.21 2.87 3.45 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
4.34 2.49 -1.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - -
Asset Turnover
0.00 0.22 0.29 0.29 0.30 0.30
Accounts Receivable Turnover
0.00 5.73 7.39 7.81 7.91 7.36
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.00 58.44 87.60 74.10 56.38 54.31
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)
0.00 63.70 49.42 46.72 46.17 49.62
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)
0.00 63.70 49.42 46.72 46.17 49.62
Capital & Investment Metrics
- - - - - -
Invested Capital
0.00 1,536 1,752 1,769 2,074 3,770
Invested Capital Turnover
0.00 1.33 0.87 0.98 1.08 0.86
Increase / (Decrease) in Invested Capital
0.00 1,536 216 17 305 1,696
Enterprise Value (EV)
0.00 2,804 22,106 22,595 23,648 19,942
Market Capitalization
1,338 1,338 20,698 21,304 22,134 16,800
Book Value per Share
$0.00 $1.23 $0.66 $0.92 $1.08 $2.40
Tangible Book Value per Share
$0.00 ($30.91) ($2.97) ($2.55) ($3.26) ($13.35)
Total Capital
0.00 1,896 2,185 2,800 2,959 4,381
Total Debt
0.00 1,585 1,590 1,982 1,979 3,283
Total Long-Term Debt
0.00 1,566 1,567 1,952 1,944 3,231
Net Debt
0.00 1,225 1,158 951 1,094 2,672
Capital Expenditures (CapEx)
-4.91 18 353 23 30 47
Debt-free, Cash-free Net Working Capital (DFCFNWC)
0.00 -282 -271 -202 -212 -249
Debt-free Net Working Capital (DFNWC)
0.00 30 116 790 627 292
Net Working Capital (NWC)
0.00 11 93 760 591 240
Net Nonoperating Expense (NNE)
31 70 115 101 99 131
Net Nonoperating Obligations (NNO)
0.00 1,225 1,158 951 1,094 2,672
Total Depreciation and Amortization (D&A)
55 73 124 126 135 199
Debt-free, Cash-free Net Working Capital to Revenue
0.00% -27.74% -18.89% -11.73% -10.21% -9.89%
Debt-free Net Working Capital to Revenue
0.00% 2.96% 8.12% 45.81% 30.16% 11.59%
Net Working Capital to Revenue
0.00% 1.08% 6.48% 44.04% 28.46% 9.53%
Earnings Adjustments
- - - - - -
Adjusted Basic Earnings per Share
$0.00 $0.00 ($0.07) $0.57 $0.53 $0.78
Adjusted Weighted Average Basic Shares Outstanding
0.00 0.00 259.06M 108.62M 114.36M 120.78M
Adjusted Diluted Earnings per Share
$0.00 $0.00 ($0.07) $0.52 $0.52 $0.71
Adjusted Weighted Average Diluted Shares Outstanding
0.00 0.00 259.06M 265.75M 125.75M 132.89M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 ($0.07) $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 105.73M 519.30M 520.45M 261.91M
Normalized Net Operating Profit after Tax (NOPAT)
92 140 174 264 298 342
Normalized NOPAT Margin
12.06% 13.70% 12.17% 15.31% 14.34% 13.58%
Pre Tax Income Margin
8.89% 7.80% 4.30% 10.39% 11.45% 10.83%
Debt Service Ratios
- - - - - -
EBIT to Interest Expense
2.94 2.67 1.79 0.00 0.00 0.00
NOPAT to Interest Expense
2.64 2.98 2.16 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
3.08 2.30 -2.66 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
2.77 2.60 -2.28 0.00 0.00 0.00
Payout Ratios
- - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 24.43% 36.85% 80.53%
Augmented Payout Ratio
0.00% 0.00% 462.41% 24.43% 36.85% 80.53%

Quarterly Metrics and Ratios for Ryan Specialty

This table displays calculated financial ratios and metrics derived from Ryan Specialty's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
16.79% 14.92% 18.28% 19.10% 21.83% 22.49% 20.64% 18.85% 20.47% 24.52%
EBITDA Growth
96.69% 2,173.03% 53.83% 11.68% 13.93% 7.38% 3.65% 30.94% 16.34% 48.68%
EBIT Growth
296.68% 329.84% 95.79% 15.62% 13.58% 6.16% 0.96% 33.73% -6.97% 31.23%
NOPAT Growth
10,852.08% 51.78% 3.43% 18.48% -50.77% 35.56% 4.97% 31.57% 338.37% -29.25%
Net Income Growth
189.84% 54.59% 101.69% 19.53% -46.37% 27.79% 11.58% 40.83% 82.40% -27.26%
EPS Growth
156.25% 66.67% 83.33% 18.18% -144.44% 26.67% 18.18% 42.31% 325.00% -36.84%
Operating Cash Flow Growth
-129.42% 54.91% -143.18% 32.09% 868.55% 22.94% 26.80% -10.93% -4.32% 14.45%
Free Cash Flow Firm Growth
92.66% 0.00% 90.90% 88.02% -83.08% -490.52% 42.53% -1,070.13% -447.08% -676.82%
Invested Capital Growth
10.59% 0.95% 12.04% 7.61% 13.60% 17.24% 7.54% 24.17% 64.12% 81.78%
Revenue Q/Q Growth
-16.14% 5.59% 5.19% 27.87% -14.22% 6.16% 3.60% 25.98% -13.05% 9.73%
EBITDA Q/Q Growth
-32.36% 20.68% -9.08% 50.47% -30.99% 13.75% -12.25% 90.09% -38.69% 45.36%
EBIT Q/Q Growth
-42.15% 31.91% -13.31% 74.77% -43.17% 23.29% -17.56% 131.51% -60.47% 73.92%
NOPAT Q/Q Growth
-39.64% 27.87% -14.93% 80.45% -74.92% 252.09% -34.13% 126.18% -16.43% -43.18%
Net Income Q/Q Growth
-58.24% 56.36% -20.37% 129.91% -81.27% 272.56% -30.47% 190.18% -75.73% 48.57%
EPS Q/Q Growth
-59.09% 66.67% -26.67% 136.36% -115.38% 575.00% -31.58% 184.62% -75.68% 33.33%
Operating Cash Flow Q/Q Growth
-105.96% 1,444.29% -186.28% 290.97% -65.30% 115.04% -151.37% 332.39% -62.73% 157.22%
Free Cash Flow Firm Q/Q Growth
45.76% 143.28% -404.71% 83.26% -729.09% 7.68% 55.16% -240.92% -287.64% -31.08%
Invested Capital Q/Q Growth
5.07% -5.32% 17.49% -7.94% 10.93% -2.29% 7.78% 6.30% 46.62% 8.22%
Profitability Metrics
- - - - - - - - - -
Gross Margin
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin
22.65% 25.89% 22.37% 26.33% 21.18% 22.69% 19.22% 29.01% 20.45% 27.09%
Operating Margin
14.89% 18.22% 15.32% 20.99% 13.91% 18.08% 13.16% 23.64% 13.47% 16.48%
EBIT Margin
14.91% 18.62% 15.35% 20.97% 13.90% 16.14% 12.84% 23.60% 10.73% 17.01%
Profit (Net Income) Margin
7.11% 10.52% 7.97% 14.32% 3.13% 10.98% 7.37% 16.97% 4.74% 6.41%
Tax Burden Percent
89.57% 88.65% 85.28% 87.80% 38.74% 98.86% 86.36% 86.33% 145.54% 61.64%
Interest Burden Percent
53.23% 63.75% 60.88% 77.78% 58.11% 68.81% 66.44% 83.30% 30.33% 61.18%
Effective Tax Rate
10.43% 11.35% 14.72% 12.20% 61.26% 1.14% 13.64% 13.67% -45.54% 38.36%
Return on Invested Capital (ROIC)
12.51% 15.82% 11.93% 18.87% 5.35% 19.32% 11.44% 21.71% 16.68% 8.74%
ROIC Less NNEP Spread (ROIC-NNEP)
10.22% 13.50% 10.03% 16.52% 4.36% 15.73% 9.67% 19.61% 11.64% 7.42%
Return on Net Nonoperating Assets (RNNOA)
17.49% 20.16% 16.71% 20.55% 5.88% 17.90% 13.17% 22.09% 20.30% 13.46%
Return on Equity (ROE)
30.00% 35.98% 28.63% 39.41% 11.22% 37.23% 24.62% 43.81% 36.99% 22.20%
Cash Return on Invested Capital (CROIC)
0.00% 14.04% 2.66% 8.53% 0.78% -0.59% 6.48% -6.12% -34.70% -45.70%
Operating Return on Assets (OROA)
4.72% 5.43% 4.78% 5.80% 4.54% 4.92% 4.24% 6.95% 3.43% 5.06%
Return on Assets (ROA)
2.25% 3.07% 2.48% 3.96% 1.02% 3.35% 2.43% 5.00% 1.52% 1.91%
Return on Common Equity (ROCE)
17.26% 20.94% 17.08% 23.19% 6.51% 21.50% 14.33% 25.30% 21.29% 12.69%
Return on Equity Simple (ROE_SIMPLE)
33.22% 0.00% 35.71% 34.95% 33.47% 0.00% 35.84% 38.45% 38.85% 0.00%
Net Operating Profit after Tax (NOPAT)
55 70 60 108 27 95 63 142 119 67
NOPAT Margin
13.34% 16.15% 13.06% 18.43% 5.39% 17.87% 11.36% 20.40% 19.61% 10.15%
Net Nonoperating Expense Percent (NNEP)
2.29% 2.32% 1.90% 2.35% 0.99% 3.59% 1.77% 2.10% 5.05% 1.32%
Return On Investment Capital (ROIC_SIMPLE)
- 2.51% - - - 3.22% - - - 1.54%
Cost of Revenue to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue
11.89% 13.13% 11.30% 13.95% 13.80% 13.81% 13.74% 11.93% 14.67% 15.75%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
85.11% 81.78% 84.68% 79.01% 86.09% 81.92% 86.84% 76.36% 86.53% 83.52%
Earnings before Interest and Taxes (EBIT)
61 81 70 123 70 86 71 164 65 113
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
93 113 102 154 106 121 106 202 124 180
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
47.16 44.53 40.68 41.31 45.93 39.54 51.92 49.71 54.86 26.77
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
12.51 12.35 11.52 12.22 12.60 10.65 13.25 13.19 14.56 6.68
Price to Earnings (P/E)
392.41 348.95 307.39 316.83 444.63 362.64 446.81 371.23 334.58 177.47
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.42% 0.59% 0.68% 0.87%
Earnings Yield
0.25% 0.29% 0.33% 0.32% 0.22% 0.28% 0.22% 0.27% 0.30% 0.56%
Enterprise Value to Invested Capital (EV/IC)
11.94 12.77 10.71 12.77 12.49 11.40 13.63 13.42 10.78 5.29
Enterprise Value to Revenue (EV/Rev)
13.37 13.10 12.39 12.94 13.39 11.38 14.02 13.97 15.75 7.93
Enterprise Value to EBITDA (EV/EBITDA)
76.29 55.05 49.88 52.87 55.78 48.89 62.50 59.59 68.00 32.62
Enterprise Value to EBIT (EV/EBIT)
132.62 79.44 69.82 72.89 77.15 67.82 87.19 81.59 97.34 48.31
Enterprise Value to NOPAT (EV/NOPAT)
93.04 85.66 80.75 83.50 98.28 80.57 102.70 96.27 96.76 55.26
Enterprise Value to Operating Cash Flow (EV/OCF)
82.58 67.34 92.06 77.44 60.98 49.56 58.59 65.52 77.92 38.73
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 91.40 425.74 155.21 1,695.88 0.00 217.83 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
2.62 2.42 2.32 2.10 2.10 2.02 2.03 1.84 2.43 2.99
Long-Term Debt to Equity
2.58 2.39 2.29 2.06 2.07 1.98 1.99 1.81 2.40 2.94
Financial Leverage
1.71 1.49 1.67 1.24 1.35 1.14 1.36 1.13 1.74 1.81
Leverage Ratio
8.03 8.38 7.82 8.31 7.13 7.58 7.21 7.69 7.30 8.13
Compound Leverage Factor
4.28 5.34 4.76 6.47 4.14 5.22 4.79 6.40 2.21 4.97
Debt to Total Capital
72.35% 70.80% 69.85% 67.71% 67.79% 66.89% 67.03% 64.78% 70.87% 74.93%
Short-Term Debt to Total Capital
1.06% 1.09% 0.80% 1.05% 1.22% 1.20% 1.33% 1.08% 0.88% 1.18%
Long-Term Debt to Total Capital
71.29% 69.70% 69.05% 66.66% 66.57% 65.70% 65.70% 63.70% 69.99% 73.75%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
11.49% 12.12% 12.14% 13.17% 13.63% 14.19% 14.22% 15.34% 12.39% 10.74%
Common Equity to Total Capital
16.16% 17.08% 18.01% 19.12% 18.58% 18.92% 18.75% 19.88% 16.74% 14.33%
Debt to EBITDA
6.78 4.83 4.42 4.28 4.17 4.09 4.07 3.69 4.85 5.37
Net Debt to EBITDA
3.80 2.32 2.75 2.10 2.49 2.26 2.59 2.43 4.31 4.37
Long-Term Debt to EBITDA
6.68 4.76 4.37 4.21 4.09 4.02 3.99 3.63 4.79 5.29
Debt to NOPAT
8.27 7.52 7.16 6.76 7.34 6.74 6.68 5.96 6.90 9.10
Net Debt to NOPAT
4.63 3.61 4.45 3.31 4.38 3.73 4.25 3.93 6.14 7.40
Long-Term Debt to NOPAT
8.15 7.40 7.08 6.66 7.21 6.62 6.55 5.86 6.82 8.95
Altman Z-Score
3.02 2.76 2.88 2.68 3.21 2.56 3.26 2.93 3.16 1.53
Noncontrolling Interest Sharing Ratio
42.45% 41.80% 40.33% 41.16% 41.97% 42.24% 41.80% 42.26% 42.44% 42.86%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.27 1.24 1.25 1.22 1.20 1.16 1.15 1.09 1.01 1.05
Quick Ratio
0.41 0.39 0.34 0.33 0.33 0.30 0.26 0.21 0.14 0.20
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-124 54 -164 -27 -227 -210 -94 -321 -1,243 -1,629
Operating Cash Flow to CapEx
-262.52% 1,719.60% -5,700.36% 11,835.23% 990.51% 1,648.39% -1,527.78% 1,808.29% 1,421.69% 1,501.16%
Free Cash Flow to Firm to Interest Expense
-4.30 0.00 -5.55 -0.95 0.00 0.00 -3.20 -10.30 0.00 0.00
Operating Cash Flow to Interest Expense
-0.48 0.00 -5.40 10.53 0.00 0.00 -3.96 8.70 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
-0.66 0.00 -5.50 10.44 0.00 0.00 -4.22 8.22 0.00 0.00
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.32 0.29 0.31 0.28 0.33 0.30 0.33 0.29 0.32 0.30
Accounts Receivable Turnover
9.29 7.81 8.47 6.92 9.29 7.91 8.14 6.66 8.32 7.36
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
88.52 74.10 77.27 77.80 72.15 56.38 58.31 58.47 61.22 54.31
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)
39.27 46.72 43.11 52.71 39.28 46.17 44.85 54.81 43.88 49.62
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)
39.27 46.72 43.11 52.71 39.28 46.17 44.85 54.81 43.88 49.62
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
1,868 1,769 2,078 1,914 2,123 2,074 2,235 2,376 3,484 3,770
Invested Capital Turnover
0.94 0.98 0.91 1.02 0.99 1.08 1.01 1.06 0.85 0.86
Increase / (Decrease) in Invested Capital
179 17 223 135 254 305 157 462 1,361 1,696
Enterprise Value (EV)
22,305 22,595 22,258 24,445 26,517 23,648 30,461 31,884 37,566 19,942
Market Capitalization
20,879 21,304 20,688 23,090 24,937 22,134 28,780 30,114 34,715 16,800
Book Value per Share
$0.85 $0.92 $0.98 $1.08 $1.04 $1.08 $4.71 $1.16 $1.21 $2.40
Tangible Book Value per Share
($2.64) ($2.55) ($2.67) ($2.53) ($3.13) ($3.26) ($14.30) ($3.61) ($5.85) ($13.35)
Total Capital
2,740 2,800 2,824 2,923 2,922 2,959 2,957 3,047 3,781 4,381
Total Debt
1,983 1,982 1,973 1,979 1,981 1,979 1,982 1,974 2,680 3,283
Total Long-Term Debt
1,953 1,952 1,950 1,949 1,945 1,944 1,943 1,941 2,647 3,231
Net Debt
1,111 951 1,227 970 1,181 1,094 1,260 1,303 2,382 2,672
Capital Expenditures (CapEx)
5.23 11 2.79 2.57 11 14 7.63 15 7.10 17
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-122 -202 20 -104 -114 -212 -87 -153 -148 -249
Debt-free Net Working Capital (DFNWC)
711 790 725 862 640 627 578 459 87 292
Net Working Capital (NWC)
682 760 702 832 605 591 539 426 53 240
Net Nonoperating Expense (NNE)
26 24 23 24 11 37 22 24 90 25
Net Nonoperating Obligations (NNO)
1,111 951 1,227 970 1,181 1,094 1,260 1,303 2,382 2,672
Total Depreciation and Amortization (D&A)
32 32 32 31 37 35 35 38 59 67
Debt-free, Cash-free Net Working Capital to Revenue
-7.32% -11.73% 1.12% -5.48% -5.77% -10.21% -4.01% -6.71% -6.22% -9.89%
Debt-free Net Working Capital to Revenue
42.60% 45.81% 40.36% 45.64% 32.34% 30.16% 26.63% 20.13% 3.64% 11.59%
Net Working Capital to Revenue
40.85% 44.04% 39.11% 44.02% 30.54% 28.46% 24.82% 18.68% 2.24% 9.53%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$0.11 $0.16 $0.12 $0.27 ($0.04) $0.18 $0.14 $0.38 $0.15 $0.11
Adjusted Weighted Average Basic Shares Outstanding
109.43M 108.62M 111.03M 112.92M 115.87M 114.36M 117.81M 118.39M 121.92M 120.78M
Adjusted Diluted Earnings per Share
$0.09 $0.15 $0.11 $0.26 ($0.04) $0.19 $0.13 $0.37 $0.09 $0.12
Adjusted Weighted Average Diluted Shares Outstanding
266.35M 265.75M 266.98M 123.85M 115.87M 125.75M 269.92M 271.22M 272.69M 132.89M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
519.21M 519.30M 519.56M 520.43M 520.50M 520.45M 520.89M 522.90M 261.84M 261.91M
Normalized Net Operating Profit after Tax (NOPAT)
55 71 60 109 50 96 63 143 57 53
Normalized NOPAT Margin
13.43% 16.41% 13.19% 18.70% 9.99% 18.07% 11.35% 20.56% 9.39% 7.96%
Pre Tax Income Margin
7.93% 11.87% 9.34% 16.32% 8.07% 11.11% 8.53% 19.66% 3.25% 10.41%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
2.13 0.00 2.38 4.25 0.00 0.00 2.41 5.27 0.00 0.00
NOPAT to Interest Expense
1.90 0.00 2.03 3.73 0.00 0.00 2.13 4.56 0.00 0.00
EBIT Less CapEx to Interest Expense
1.95 0.00 2.29 4.16 0.00 0.00 2.15 4.79 0.00 0.00
NOPAT Less CapEx to Interest Expense
1.72 0.00 1.93 3.65 0.00 0.00 1.87 4.08 0.00 0.00
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
0.00% 24.43% 22.00% 24.67% 32.92% 36.85% 58.91% 62.69% 68.39% 80.53%
Augmented Payout Ratio
0.00% 24.43% 22.00% 24.67% 32.92% 36.85% 58.91% 62.69% 68.39% 80.53%

Frequently Asked Questions About Ryan Specialty's Financials

When does Ryan Specialty's financial year end?

According to the most recent income statement we have on file, Ryan Specialty's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Ryan Specialty's net income changed over the last 5 years?

Ryan Specialty's net income appears to be on an upward trend, with a most recent value of $229.91 million in 2024, rising from $63.06 million in 2019. The previous period was $194.48 million in 2023.

What is Ryan Specialty's operating income?
Ryan Specialty's total operating income in 2024 was $427.81 million, based on the following breakdown:
  • Total Gross Profit: $2.52 billion
  • Total Operating Expenses: $2.09 billion
How has Ryan Specialty revenue changed over the last 5 years?

Over the last 5 years, Ryan Specialty's total revenue changed from $765.11 million in 2019 to $2.52 billion in 2024, a change of 228.8%.

How much debt does Ryan Specialty have?

Ryan Specialty's total liabilities were at $8.55 billion at the end of 2024, a 36.4% increase from 2023, and a 102.7% increase since 2020.

How much cash does Ryan Specialty have?

In the past 4 years, Ryan Specialty's cash and equivalents has ranged from $312.65 million in 2020 to $992.72 million in 2022, and is currently $540.20 million as of their latest financial filing in 2024.

How has Ryan Specialty's book value per share changed over the last 5 years?

Over the last 5 years, Ryan Specialty's book value per share changed from 0.00 in 2019 to 2.40 in 2024, a change of 239.7%.

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This page (NYSE:RYAN) was last updated on 4/15/2025 by MarketBeat.com Staff
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