Ryan Specialty Holdings, Inc. (RYAN) Key Metrics
RYAN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $10.44B
- Enterprise value
- $8.08B
- P/E (TTM)
- 57.4 10-yr median 187.3
- Forward P/E
- 14.6
- PEG ratio
- —
- Price / sales
- 3.3 10-yr median 5.6
- Price / book
- 8.7 10-yr median 13.7
- EV / EBITDA
- — 10-yr median 27.5
- Dividend yield
- 0.61% $0.52 a year
- Beta
- 0.60
RYAN key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsRYAN valuation Price multiples at each fiscal year-end price.
RYAN returns How much profit the business earns on the capital it uses.
RYAN per-share figures Results divided by the shares outstanding at year-end.
RYAN financial health Debt, liquidity and how easily interest is covered.
RYAN efficiency & capital use Working capital cycle and where the cash goes.
RYAN valuation history
RYAN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
RYAN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
RYAN cash returned to shareholders
RYAN price vs earnings per share
RYAN key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $14.38B | $17.73B | $11.71B | $11.23B | $4.27B | — | — |
| Enterprise value | $17.75B | $20.65B | $13.03B | $12.39B | $5.56B | — | — |
| P/E ratio | 226.8 | 187.3 | 191.9 | 183.9 | 64.8 | — | — |
| Price / sales | 4.7 | 7.0 | 5.6 | 6.5 | 3.0 | — | — |
| Price / book | 22.2 | 16.1 | 12.0 | 13.7 | 7.2 | — | — |
| Price / free cash flow | 25.0 | 37.9 | 26.2 | 35.0 | 16.2 | — | — |
| Price / operating cash flow | 22.3 | 34.4 | 24.5 | 33.5 | 15.6 | — | — |
| EV / sales | 5.8 | 8.2 | 6.3 | 7.2 | 3.9 | — | — |
| EV / EBITDA | 22.1 | 34.5 | 27.5 | 31.5 | 21.9 | — | — |
| EV / free cash flow | 30.8 | 44.1 | 29.1 | 38.7 | 21.1 | — | — |
| Earnings yield | 0.4% | 0.5% | 0.5% | 0.5% | 1.5% | — | — |
| Free cash flow yield | 4.0% | 2.6% | 3.8% | 2.9% | 6.2% | — | — |
| Dividend yield | 0.4% | 0.5% | 0.6% | 0.4% | 1.1% | — | — |
| Shareholder yield (dividends + buybacks) | 0.5% | 0.5% | 0.7% | 0.4% | 25.6% | — | — |
| Share price at fiscal year-end | $51.63 | $64.16 | $43.02 | $41.51 | $40.35 | — | — |
| Per share | |||||||
| Revenue per share | $10.96 | $9.11 | $7.63 | $6.38 | $13.55 | $9.56 | $7.18 |
| Earnings per share | $0.23 | $0.34 | $0.22 | $0.23 | $0.62 | $0.64 | $0.60 |
| Operating cash flow per share | $2.31 | $1.86 | $1.75 | $1.24 | $2.59 | $1.27 | $1.40 |
| Free cash flow per share | $2.07 | $1.69 | $1.64 | $1.18 | $2.49 | $1.15 | $1.33 |
| Cash per share | $0.57 | $1.96 | $3.08 | $3.67 | $3.66 | $2.94 | $0.49 |
| Book value per share | $2.33 | $3.98 | $3.60 | $3.02 | $5.63 | $0.66 | $0.60 |
| Tangible book value per share | −$9.68 | −$5.91 | −$4.69 | −$3.64 | −$12.19 | −$16.52 | −$5.91 |
| Dividends per share | $0.22 | $0.29 | $0.26 | $0.15 | $0.45 | $0.47 | $0.68 |
| Capex per share | $0.24 | $0.17 | $0.11 | $0.06 | $0.09 | $0.12 | $0.08 |
| Debt per share | $12.68 | $12.54 | $7.92 | $7.98 | $15.92 | $15.86 | $6.28 |
| Shares outstanding | 278.5M | 276.3M | 272.3M | 270.5M | 105.7M | 106.5M | 106.5M |
| Change in shares outstanding | +0.8% | +1.5% | +0.7% | +155.8% | −0.7% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | 7.3% | 9.1% | 6.8% | 8.6% | 19.8% | 101.6% | 99.8% |
| Return on invested capital (ROIC) | 11.4% | 7.3% | 9.1% | 8.4% | 3.4% | 6.6% | 9.3% |
| Return on assets (ROA) | 0.6% | 1.1% | 0.9% | 1.0% | 1.3% | 2.0% | 2.9% |
| Return on tangible assets | 0.9% | 1.4% | 1.2% | 1.3% | 1.8% | 2.5% | 4.3% |
| Free cash flow margin | 18.9% | 18.6% | 21.5% | 18.6% | 18.4% | 12.1% | 18.5% |
| Income quality (OCF / net income) | 10.15 | 5.44 | 7.82 | 5.50 | 4.15 | 1.99 | 2.33 |
| Financial health | |||||||
| Total debt | $3.53B | $3.46B | $2.16B | $2.16B | $1.68B | $1.69B | $669.3M |
| Cash & short-term investments | $158.3M | $540.2M | $838.8M | $992.7M | $387.0M | $312.7M | $52.0M |
| Net debt | $3.37B | $2.92B | $1.32B | $1.16B | $1.30B | $1.38B | $617.3M |
| Debt / equity | 5.45 | 3.15 | 2.20 | 2.64 | 2.83 | 24.20 | 10.41 |
| Debt / assets | 0.33 | 0.36 | 0.30 | 0.34 | 0.31 | 0.37 | 0.31 |
| Net debt / EBITDA | 4.20 | 4.88 | 2.78 | 2.96 | 5.11 | 7.09 | 3.94 |
| Current ratio | 7.51 | 1.05 | 1.16 | 1.24 | 70.70 | 1.01 | 1.00 |
| Quick ratio | 7.51 | 1.05 | 1.17 | 2.08 | 127.83 | 0.81 | 1.00 |
| Interest coverage | 2.8 | 1.7 | 2.0 | 1.7 | 0.8 | 1.7 | 1.9 |
| Working capital | $561.1M | $239.8M | $591.3M | $759.7M | $2.95B | $20.5M | −$6.7M |
| Invested capital | $4.02B | $4.02B | $2.30B | $1.98B | $1.89B | $1.45B | $681.5M |
| Tangible asset value | −$2.09B | −$1.63B | −$1.28B | −$983.6M | −$1.29B | −$1.76B | −$630.6M |
| Net current asset value | −$8.66B | −$3.76B | −$1.93B | −$1.67B | −$1.88B | −$1.96B | −$705.9M |
| Graham number | $3.45 | $5.54 | $4.26 | $3.92 | $8.88 | $3.07 | $2.86 |
| Graham net-net per share | −$31.54 | −$27.94 | −$19.10 | −$21.09 | −$52.26 | −$21.43 | −$18.59 |
| Capital allocation | |||||||
| Dividends paid | $62.3M | $80.2M | $71.7M | $39.9M | $47.1M | $50.1M | $72.3M |
| Share buybacks (net) | $3.7M | $2.1M | $8.8M | $7.2M | $1.05B | $52.6M | $3.2M |
| Dividend payout ratio | 98.3% | 84.8% | 117.4% | 65.3% | 71.5% | 73.6% | 112.7% |
| Dividends + buybacks / free cash flow | 11.5% | 17.6% | 18.0% | 14.7% | 414.5% | 83.6% | 53.3% |
| Capex / revenue | 2.2% | 1.9% | 1.4% | 0.9% | 0.7% | 1.2% | 1.0% |
| Capex / operating cash flow | 10.6% | 9.1% | 6.2% | 4.5% | 3.6% | 9.2% | 5.3% |
| Capex / depreciation | 0.24 | 0.28 | 0.26 | 0.14 | 0.09 | 0.19 | 0.15 |
| Stock-based compensation / revenue | 1.3% | 3.1% | 3.4% | 4.5% | 4.7% | 1.1% | 1.1% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 14.9% | 77.2% | 79.1% | 76.9% | 78.9% | 77.9% | 80.1% |
| Efficiency | |||||||
| Days sales outstanding | 52.6 | 52.3 | 49.4 | 46.8 | 301.5 | 409.2 | 60.7 |
| Days of inventory on hand | — | — | -372.2 | -829.2 | -371.4 | 137.1 | 0.0 |
| Days payables outstanding | 258.7 | 37.7 | 32.6 | 32.0 | 29.8 | 32.2 | 34.4 |
| Cash conversion cycle (days) | -206.1 | 14.5 | -355.5 | -814.4 | -99.7 | 514.1 | 26.2 |
| Receivables turnover | 6.94 | 6.98 | 7.39 | 7.80 | 1.21 | 0.89 | 6.02 |
| Payables turnover | 1.41 | 9.67 | 11.18 | 11.40 | 12.25 | 11.34 | 10.61 |
| Inventory turnover | — | — | — | — | — | 2.66 | 487,108,000.00 |
| Asset turnover | 0.30 | 0.30 | 0.30 | 0.29 | 0.29 | 0.30 | 0.35 |
| Average receivables | $439.4M | $360.2M | $281.0M | $221.2M | $1.18B | $1.14B | $127.1M |
| Average payables | $203.8M | $156.2M | $116.2M | $97.0M | $77.0M | $58.0M | $45.9M |
| Average inventory | — | — | −$1.32B | −$2.51B | −$959.7M | $247.2M | $1 |
| Intangibles / total assets | 31.7% | 28.3% | 31.1% | 28.2% | 34.5% | 40.4% | 31.7% |
Computed from RYAN's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
RYAN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Ryan Specialty traded at 226.8 times earnings, against a 7-year median of 187.3. Based on the latest twelve months, the trailing P/E is 57.4 and the forward P/E is 14.6. Ryan Specialty earned a return on equity of 7.3% and a return on invested capital of 11.4% in fiscal 2025. It ended the year with $3.5 billion of debt and $158.3 million in cash and short-term investments, net debt of $3.4 billion. It returned $66.1 million to shareholders: $62.3 million in dividends and $3.7 million in share buybacks, 11% of free cash flow. The share count rose 161.5% from 106.5M to 278.5M over 6 years.
See the RYAN income statement, the RYAN chart for price history, or the RYAN stock overview for the latest quote and news.
RYAN key metrics FAQ
What is Ryan Specialty's P/E ratio?
Ryan Specialty's trailing P/E ratio is 57.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 14.6. At the end of fiscal 2025 it was 226.8, compared with a 7-year median of 187.3.
What is Ryan Specialty's EV/EBITDA?
Ryan Specialty's enterprise value was 22.1 times EBITDA at the end of fiscal 2025 (enterprise value $17.8 billion, EBITDA $803.1 million).
What is Ryan Specialty's return on equity?
Ryan Specialty's return on equity (ROE) was 7.3% in fiscal 2025: net income of $63.4 million on average shareholders' equity of $873.2 million.
What is Ryan Specialty's ROIC?
Ryan Specialty's return on invested capital was 11.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Ryan Specialty have?
Ryan Specialty had total debt of $3.5 billion at the end of fiscal 2025, a debt-to-equity ratio of 5.45 and $3.4 billion of net debt (4.20 times EBITDA).
What is Ryan Specialty's dividend yield?
Ryan Specialty's forward dividend yield is 0.61%. Ryan Specialty paid $62.3 million in dividends in fiscal 2025 ($0.22 per share), a payout ratio of 98.3%.
Does Ryan Specialty buy back its shares?
Yes. Ryan Specialty spent $3.7 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.8% over the year, to 278.5M..
What is Ryan Specialty's free cash flow yield?
Ryan Specialty generated $575.7 million of free cash flow in fiscal 2025, a free cash flow yield of 4.0% on its market value at year-end ($14.4 billion).
What is Ryan Specialty's current ratio?
Ryan Specialty's current ratio was 7.51 at the end of fiscal 2025: current assets were 7.51 times current liabilities.