Ryan Specialty Holdings, Inc. (RYAN) Stock Price & Analysis
Ryan Specialty Holdings, Inc. (RYAN) closed at USD 44.49 on Thursday, October 22, 2026, up 5.28% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 42.26; the Oct 22, 2026 session ranged USD 42.74–44.61 on volume of 1,818,467 shares. Market capitalization is $11.40B, with a 52-week range of USD 29.28–58.94 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:23 UTC.
Also available as compact Markdown for AI agents: nexqual.com/RYAN.md
Key facts (RYAN)
- Last four reported quarters (through Jun 30, 2026): revenue $3.22B, net income $99.0M (3.1% margin), free cash flow $555M (SEC filings).
- Valuation: P/E 115.1x, EV/EBITDA 30.2x, net debt $3.49B.
- 2 of 80 tracked superinvestors hold RYAN (13F, Q2 2026): 0 new, 2 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $1.7M; 2 not under a Rule 10b5-1 plan ($1.7M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 5 Form 4 filings, $4.6M; 1 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.42 on a 1–5 scale) (19 analysts), mean target USD 49.09 (range 38–76).
- Total return with dividends: 1Y -15.2% vs S&P 500 +14.9%; 5Y +25.2% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0.49, revenue estimate $793M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (RYAN)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.43B | $1.73B | $2.08B | $2.52B | $3.05B | $3.22B |
| Operating income | $187M | $290M | $359M | $428M | $494M | $477M |
| Net income | $65.9M | $61.1M | $61.0M | $94.7M | $63.4M | $99.0M |
| Free cash flow | -$69.7M | $328M | $477M | $515M | $641M | $555M |
| Operating margin | 13.0% | 16.8% | 17.3% | 17.0% | 16.2% | 14.8% |
| Net margin | 4.6% | 3.5% | 2.9% | 3.8% | 2.1% | 3.1% |
| Revenue growth | +40.7% | +20.4% | +20.4% | +21.1% | +21.3% | — |
| Cash + short-term investments | $1.14B | $993M | $839M | $540M | $158M | — |
| Total debt | $1.59B | $1.98B | $1.98B | $3.28B | $3.35B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (RYAN)
P/E 115.1x · P/S 3.5x · EV/EBITDA 30.2x · EV/Sales 4.6x · P/FCF 20.6x · P/B 22.4x · FCF yield 4.86% · Earnings yield 0.87% · Dividend yield (paid, TTM) 0.56% · Net debt $3.49B · EV $14.9B
Superinvestors (SEC 13F-HR, Q2 2026) (RYAN)
2 of 80 tracked investors hold RYAN. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Vulcan Value Partners | 9.09% | $299M | Added +20.0% | |
| Torray Funds | 0.40% | $2.9M | Added +14.5% |
Insider sales (SEC Form 4, open-market, last ~7 months) (RYAN)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-08 | Mulshine Brendan Martin | Co-President and CRO | 40,000 | $1.6M | 34.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-13 | Conklin Michael | EVP & CHRO | 2,043 | $86K | 20% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (RYAN)
5 purchases, $4.6M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-11…2026-06-12 | Kuczinski Anthony J | Director | 3,000 | $105K | 34.99 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-10 | Rogers John W Jr | Director | 7,500 | $264K | 35.16 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-05 | Ryan Patrick G | Executive Chairman | 120,000 | $3.9M | 32.5 | Too little history (no open-market trades in 2024) |
| 2026-06-03 | Hamilton Janice M | Chief Financial Officer | 6,300 | $200K | 31.79 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-03 | Katz Mark Stephen | EVP & General Counsel | 3,215 | $100K | 31.07 | Opportunistic (traded every year 2023–2025, no repeating month) |
Analysts (RYAN)
Consensus Buy (mean 2.42 on a 1–5 scale), 19 analysts; mean target USD 49.09 (low 38, high 76).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Wells Fargo | Target lowered | Equal-Weight | $43 → $41 |
| 2026-10-07 | Mizuho | Target lowered | Neutral | $43 → $40 |
| 2026-10-06 | Piper Sandler | Target lowered | Neutral | $48 → $40 |
| 2026-09-16 | Mizuho | Target lowered | Neutral | $48 → $43 |
| 2026-08-19 | Morgan Stanley | Target raised | Overweight | $48 → $50 |
| 2026-08-03 | UBS | Target raised | Buy | $50 → $55 |
| 2026-08-03 | Citigroup | Target raised | Buy | $50 → $53.5 |
| 2026-08-03 | JP Morgan | Target raised | Underweight | $39 → $45 |
| 2026-08-03 | Wells Fargo | Target raised | Equal-Weight | $39 → $43 |
| 2026-08-03 | Cantor Fitzgerald | Target raised | Neutral | $34 → $41 |
| 2026-07-31 | RBC Capital | Target raised | Outperform | $45 → $55 |
| 2026-07-31 | Mizuho | Target raised | Neutral | $39 → $48 |
Total return (dividends reinvested) (RYAN)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -15.2% | +25.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -15.2% | +4.6% |
| Volatility (annualized) | 44.8% | 34.3% |
| Max drawdown | -49.5% (Dec 2025→May 2026) | -58.7% (Nov 2024→Apr 2026) |
RYAN revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Wholesale Brokerage | $498.8M | 55.3% | +4.5% |
| Underwriting Management | $303.8M | 33.6% | +12.8% |
| Binding Authority | $100.2M | 11.1% | +6.0% |
| Total revenue | $902.7M | 100% | — |
RYAN revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $852.1M | 94.4% | +6.3% |
| Foreign | $64.6M | 7.2% | +20.3% |
| Total revenue | $902.7M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
RYAN suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Specialty | “In our Underwriting Management Specialty, we utilize delegated authority granted to us by carriers and we” |
| Supplier | New | “accordingly, we depend on distributions from the LLC to pay our taxes, satisfy our obligations under the Tax Receivable” |
Quoted from the company's 10-K filed Feb 13, 2026.
RYAN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.49 | $0.51 | -4.6% | $793.2M | 18 |
| Next quarter (ends Dec 2026) | $0.48 | $0.48 | -1.5% | $795.3M | 18 |
| Current fiscal year (ends Dec 2026) | $2.16 | $2.06 | +5.0% | $3.29B | 19 |
| Next fiscal year (ends Dec 2027) | $2.44 | $2.35 | +3.6% | $3.53B | 19 |
RYAN options: expected move
Options price a move of about ±12.4% (±$5.53) by Nov 20, 2026, which includes earnings on Oct 29, 2026. Over the last 8 reports the stock moved ±6.6% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 55.4% | ±12.4% |
| Dec 18, 2026 | 56 | 49.8% | ±15.5% |
| Jan 15, 2027 | 84 | 47.2% | ±17.9% |
| Apr 16, 2027 | 175 | 45.8% | ±24.7% |
30-day implied volatility 49.1% vs 42.6% realized over the last 30 trading days. Put/call ratio (volume) 0. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:23 UTC)
| Price | USD 44.49 |
|---|---|
| Change | ▲ 5.28% (up) |
| Previous Close | USD 42.26 |
| Open | USD 42.64 |
| Day Range | USD 42.74 – 44.61 |
| 52-Week Range | USD 29.28 – 58.94 |
| Volume | 1,818,467 shares |
| Market Cap | $11.40B |
| Exchange | NYQ |
Technical Analysis (RYAN)
Nexqual's technical model rates RYAN "BUY" based on 5 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 09:23 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 68.22 (neutral) |
| vs SMA50 | Above (USD 40.28) |
| MACD | 0.78 (positive) |
Analyst Ratings (RYAN)
Wall Street analysts rate RYAN "Buy" based on 19 analysts, with a mean price target of USD 49.09 (range USD 38–76), per Nexqual as of October 23, 2026 at 09:23 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 19 |
| Mean Target | USD 49.09 |
| High Target | USD 76 |
| Low Target | USD 38 |
| Buy / Hold / Sell | 9 / 9 / 1 |
Earnings (RYAN)
| Next Earnings Date | 2026-10-29 |
|---|---|
| EPS Estimate | USD 0.49 |
| Revenue Estimate | $793.25M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.74 vs est 0.6 ▲ beat |
| 2026-03-31 | USD 0.47 vs est 0.43 ▲ beat |
| 2025-12-31 | USD 0.45 vs est 0.49 ▼ miss |
| 2025-09-30 | USD 0.47 vs est 0.47 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financials & Fundamentals (RYAN)
| Total Revenue | $3.16B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +7.40% |
| Gross Margin | +41.49% |
| Operating Margin | +25.04% |
| Profit Margin | +3.13% |
| ROE | +22.09% |
| Debt / Equity | 3.75 |
| Current Ratio | 1 |
| Total Cash | $140.12M |
| Total Debt | $3.81B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $554.62M (17.2% of revenue) |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financial Health Score (RYAN)
Nexqual rates Ryan Specialty Holdings, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:23 UTC.
| Growth | Strong — Revenue +21% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 41%, operating 25% (last 12 months) |
| Balance Sheet | Critical — $140M cash and investments vs $3.63B debt (Jun 2026, SEC) |
| Cash Flow | Strong — FCF $555M (last 4 quarters to Jun 2026, SEC), 17% margin |
| Efficiency | Strong — ROE 22%, ROA 3.5% |
Ownership (RYAN)
| Insider Ownership | +14.61% |
|---|---|
| Institutional Ownership | +97.82% |
| Shares Outstanding | 122.08M |
| Float | 106.18M |
| Short % of Float | +12.45% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Leadership (RYAN)
Ryan Specialty Holdings, Inc. is led by Timothy William Turner, CEO & Director, per Nexqual as of October 23, 2026 at 09:23 UTC.
| CEO & Director | Timothy William Turner |
|---|---|
| Founder & Executive Chairman | Patrick G. Ryan |
| Co-President & COO | Stephen P. Keogh |
| Executive VP & CFO | Janice M. Hamilton |
| Co-President | Brendan Martin Mulshine |
Major Backers & Investors (RYAN)
Notable institutional backers of Ryan Specialty Holdings, Inc. include Vulcan Value Partners, LLC, T. Rowe Price, Orbis Allan Gray Ltd, according to Nexqual as of October 23, 2026 at 09:23 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Vulcan Value Partners, LLC | 6.48% |
| T. Rowe Price | 5.43% |
| Orbis Allan Gray Ltd | 5.17% |
| Neuberger Berman Group, LLC | 4.56% |
| FMR, LLC | 4.2% |
| Fidelity | 2.98% |
| Polar Capital Holdings PLC | 2.41% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 8.6% |
| Vanguard Group | 8.58% |
| State Street | 3.04% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
From Ryan Specialty Holdings, Inc.'s Latest SEC 10-K Filing (filed 2026-02-13)
Key Strengths & Strategy (as disclosed to the SEC)
- We enter into agreements with our employees, contractors, clients, partners, and other parties with which we do business to limit access to, and disclosure of, our proprietary information.
- We believe that the additional freedom to craft bespoke terms and conditions in the E&S market allows us to best meet the needs of our trading partners, provide unique solutions, and drive innovation.
- A significant component of our growth in a majority of this business comprises larger volume, smaller premium policies with well-defined underwriting criteria which allows us to combine swift turnaround with the authority to bind insurance carriers to coverage regardless of the complexity of risk.
- To provide this comprehensive level of service, we have developed a full suite of products, relationships, and capabilities.
Partnerships
- At the time of our IPO, we entered into a Tax Receivable Agreement with current and certain former LLC Unitholders.
- Since inception, we have partnered with over 60 firms through acquisition.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| ERIE | Erie Indemnity Company | USD 256.8 | ▲ 5.19% |
| BRO | Brown & Brown, Inc. | USD 74.49 | ▲ 5.61% |
| BWIN | The Baldwin Insurance Group, In | USD 31.89 | ▼ 0.09% |
| ARX | Accelerant Holdings | USD 19.76 | ▲ 0.05% |
| CRVL | CorVel Corp. | USD 83.88 | ▲ 3.93% |
| WTW | Willis Towers Watson Public Lim | USD 332.18 | ▲ 4.58% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:23 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt