Ryan Specialty Holdings, Inc. (RYAN) Financial Statements
Ryan Specialty financial statements at a glance
Ryan Specialty reported revenue of $3.05 billion for fiscal year 2025 (ended December 31, 2025), up 21.3% from fiscal year 2024. Net income was $63.40 million, a net margin of 2.1%.
At the end of fiscal year 2025 it had total assets of $10.56 billion, total liabilities of $9.31 billion and shareholders' equity of $648.07 million, with cash and short-term investments of $158.32 million and total debt of $3.53 billion.
Its operations brought in $643.67 million of cash; capital spending was $67.95 million, leaving free cash flow of $575.71 million.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Ryan Specialty Holdings, Inc.
Income Statement
Annual • USD
Ryan Specialty key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $3.1B | $2.5B | $2.1B | $1.7B | $1.4B |
| Operating income | $515.6M | $431.0M | $357.4M | $284.0M | $140.9M |
| Net income | $63.4M | $94.7M | $61.0M | $61.9M | -$7.1M |
| Diluted EPS | – | $0.71 | $0.52 | $0.52 | -$0.07 |
| Total assets | $10.6B | $9.6B | $7.2B | $6.4B | $5.5B |
| Total liabilities | $9.3B | $8.6B | $6.3B | $5.6B | $4.9B |
| Shareholders' equity | $648.1M | $627.7M | $559.8M | $478.4M | $343.8M |
| Cash and short-term investments | $158.3M | – | – | – | – |
| Total debt | $3.5B | $3.5B | $2.2B | $2.2B | $1.7B |
| Operating cash flow | $643.7M | $514.9M | $477.2M | $335.5M | $273.5M |
| Capital spending | $68.0M | $47.0M | $29.8M | $15.0M | $9.8M |
| Free cash flow | $575.7M | $467.9M | $447.4M | $320.5M | $263.7M |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2019.
Questions and answers
What was Ryan Specialty's revenue in fiscal year 2025?
$3.05 billion, up 21.3% from $2.52 billion in fiscal year 2024.
How much profit does Ryan Specialty make?
Ryan Specialty reported net income of $63.40 million for fiscal year 2025 (2.1% of revenue); operating income was $515.57 million.
How much cash and debt does Ryan Specialty have?
At the end of fiscal year 2025: cash and short-term investments of $158.32 million and total debt of $3.53 billion.
What is Ryan Specialty's free cash flow?
$575.71 million in fiscal year 2025 (operating cash flow of $643.67 million minus capital spending of $67.95 million).
