The latest financial statement is for the year ending 2025-12-31.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Total revenue | 3,051,126 | 2,515,710 | - | - |
| Compensation-related expense | 1,692,000 | 1,426,674 | - | - |
| General and administrative | 392,384 | 277,813 | - | - |
| Other segment items | 172,465 | 238,640 | - | - |
| Depreciation and amortization | 287,515 | 167,630 | - | - |
| Change in contingent consideration | 13,122 | -22,859 | - | - |
| Interest income | 7,649 | 21,509 | - | - |
| Interest expense | 230,033 | 179,957 | - | - |
| Income from equity method investments | 21,236 | 18,231 | - | - |
| Other non-operating loss (income) | 692 | -15,041 | - | - |
| Income tax expense | 79,027 | 42,641 | - | - |
| Net income | 214,157 | 229,913 | 194,480 | 163,257 |
| Loss (gain) from equity method investment in related party | - | - | - | 414 |
| Income from equity method investments | 21,236 | 18,231 | 8,731 | - |
| Amortization | 274,426 | 157,845 | 106,799 | 103,601 |
| Depreciation | 13,089 | 9,785 | 9,038 | 5,690 |
| Prepaid and deferred compensation expense | 38,779 | 30,834 | 12,192 | 28,831 |
| Non-cash equity-based compensation | 69,451 | 78,995 | 69,743 | 77,480 |
| Amortization of deferred debt issuance costs | - | - | 12,172 | 12,054 |
| Amortization of debt issuance costs | 9,567 | 23,930 | - | - |
| Amortization of interest rate cap premium | 6,955 | 6,955 | 6,955 | 4,636 |
| Deferred income tax expense | 26,047 | 16,798 | 7,134 | 8,986 |
| Deferred income tax expense from common control reorganizations | 48,597 | 9,519 | 18,356 | - |
| Loss on extinguishment of existing debt | - | - | 0 | 0 |
| Loss (gain) on tax receivable agreement | -1,112 | 2,099 | -11,170 | -5,553 |
| Commissions and fees receivable net | 57,559 | 22,007 | 44,185 | 20,370 |
| Accrued interest liability | 9,362 | 20,337 | 934 | 7,776 |
| Other current assets and accrued liabilities | - | - | -40,360 | 63,659 |
| Other current and non-current assets | -1,255 | 20,668 | - | - |
| Other non-current assets and accrued liabilities | - | - | -40,786 | -1,265 |
| Other current and non-current liabilities | 9,665 | -7,038 | - | - |
| Prepaid incentives issued- net of repayments | - | - | - | -337 |
| Total cash flows provided by operating activities | 643,667 | 514,868 | 477,203 | 335,514 |
| Purchase of remaining interest in ryan re | - | - | 0 | 0 |
| Equity method investment in related party | - | - | - | 0 |
| Business combinations net of cash acquired and cash held in a fiduciary capacity | 746,485 | 1,708,737 | - | - |
| Repurchase of preferred equity | - | - | 0 | 0 |
| Capital expenditures | 67,953 | 47,001 | 29,776 | 15,043 |
| Tax distributions to llc unitholders | - | - | 71,674 | 39,883 |
| Business combinations - net of cash acquired and cash held in fiduciary capacity | - | - | 446,682 | 0 |
| Equity method investment in vsic | 16,561 | - | - | - |
| Equity repurchases from pre-ipo unitholders-IPO | - | - | - | 0 |
| Equity repurchases from pre-ipo unitholders | - | - | 0 | - |
| Asset acquisitions | 3,014 | 0 | 0 | 7,714 |
| Repurchase of class a common stock in the ipo-Common Class A-IPO | - | - | 0 | 0 |
| Repayments of prepaid incentives | 0 | 0 | 228 | - |
| Repurchase of pre-ipo llc units and payment of alternative tra payments-IPO | - | - | 0 | 0 |
| Total cash flows used in investing activities | -834,013 | -1,755,738 | -476,230 | -22,420 |
| Issuance of class a common stock in the ipo, net of offering costs paid-Common Class A-IPO | - | - | 0 | 0 |
| Contributions of members' and mezzanine equity | - | - | - | 0 |
| Repayments of unsecured promissory notes | - | - | 0 | 0 |
| Allocation of contribution to redeemable preferred units embedded derivative | - | - | - | 0 |
| Repayment of subordinated notes | - | - | - | 0 |
| Proceeds from senior secured notes | 0 | 1,187,400 | 0 | 394,000 |
| Borrowings on revolving credit facility | 1,333,328 | 1,250,000 | - | 0 |
| Repayments on revolving credit facility | 1,261,928 | 1,250,000 | - | 0 |
| Payment of interest rate cap premium | - | - | - | 25,500 |
| Debt issuance costs paid | 2,889 | 25,536 | 0 | 2,369 |
| Distributions to non-controlling llc unitholders | - | 22,209 | - | - |
| Interest rate cap receipts | - | - | - | 2,174 |
| Payment of interest rate cap premium, net | - | 0 | 0 | - |
| Proceeds from term debt | 0 | 107,625 | - | 0 |
| Payment of accrued return on ryan re preferred units | - | 2,130 | - | - |
| Repayment of term debt | 17,000 | 8,250 | 16,500 | 16,500 |
| Finance lease and other costs paid | - | 0 | 0 | 36 |
| Receipt of contingently returnable consideration | 1,927 | - | - | - |
| Payment of contingent consideration | 29,252 | 0 | 4,477 | 6,241 |
| Tax distributions to non-controlling llc unitholders | 64,126 | 82,702 | - | - |
| Receipt of taxes related to net share settlement of equity awards | 35,900 | 27,930 | 7,811 | 7,168 |
| Taxes paid related to net share settlement of equity awards | 37,045 | 27,460 | 8,785 | 7,168 |
| Payment of tax receivable agreement liabilities | 25,169 | 21,578 | 16,206 | 8,309 |
| Class a common stock dividends and dividend equivalents paid | 62,339 | 80,236 | - | - |
| Distributions and declared distributions paid to non-controlling llc unitholders | 27,174 | - | - | - |
| Payments related to ryan re preferred units | 3,733 | - | - | - |
| Net change in fiduciary liabilities | -237,616 | -114,003 | -97,221 | -17,420 |
| Total cash flows provided by (used in) financing activities | 78,116 | 1,166,857 | -12,610 | 314,756 |
| Effect of changes in foreign exchange rates on cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | 15,895 | -1,514 | 584 | -126 |
| Net change in cash, cash equivalents, and cash and cash equivalents held in a fiduciary capacity | -96,335 | -75,527 | -11,053 | 627,724 |
| Cash and cash equivalents at beginning of period | 1,680,805 | 1,756,332 | 1,767,385 | 1,139,661 |
| Cash and cash equivalents at end of period | 1,584,470 | 1,680,805 | 1,756,332 | 1,767,385 |
RYAN SPECIALTY HOLDINGS, INC. (RYAN)
RYAN SPECIALTY HOLDINGS, INC. (RYAN)