RYAN · XBRL financial data

Ryan Specialty Holdings financial statements, every fiscal year

The same tables from 5 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (RYAN's year ends in late December)

In millions of dollars	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	1,433	1,725	2,078	2,516	3,051
Revenue from contracts with customers	—	1,712	2,027	2,456	2,995
General and administrative	139	197	276	352	453
Total operating expenses	1,246	1,436	1,718	2,088	2,557
Operating income (loss)	187	290	359	428	494
Interest expense	79	105	120	—	—
Other income (expense)	(45)	(5)	(10)	(15)	1
Income tax expense (benefit)	5	16	43	43	79
Net income (loss)	66	61	61	95	63

Fiscal years (RYAN's year ends in late December)

In millions of dollars	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	1,140	1,767	1,756	540	158
Total current assets	3,011	3,894	4,336	4,789	5,060
Property and equipment, net	15	31	42	50	69
Right-of-use asset	85	144	128	133	130
Goodwill	1,309	1,315	1,646	2,647	3,225
Total assets	5,459	6,384	7,247	9,650	10,564
Total current liabilities	2,918	3,134	3,744	4,549	5,189
Long-term debt	1,567	1,952	1,944	3,231	3,291
Lease liability, non-current	74	152	154	159	153
Total liabilities	4,864	5,566	6,268	8,552	9,310
Retained earnings (accumulated deficit)	(7)	54	114	123	120
Total stockholders' equity	—	478	560	628	648
Total liabilities and equity	5,459	6,384	7,247	9,650	10,564

Fiscal years (RYAN's year ends in late December)

In millions of dollars	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	66	61	61	95	63
Stock-based compensation	68	77	70	79	69
Net cash from operating activities	273	336	477	515	644
Net cash from investing activities	(458)	(22)	(476)	(1,756)	(834)
Dividends paid	—	0	0	80	61
Net cash from financing activities	429	315	(13)	1,167	78
Net change in cash	244	628	(11)	(76)	(96)

SIC 6411 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 6411 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Ryan Specialty Holdings	169	775	181*	not reported	—	Q3 FY26 10-QSep 30, 2026
Erie Indemnity	363	1,070	213*	not reported	—	Q3 FY26 10-QSep 30, 2026
Equitable Holdings	17,183	1,658	643*	273.0M	—	Q2 FY26 10-QJun 30, 2026
Accelerant Holdings	1,573	357	(69)*	not reported	22.9 quarters	Q2 FY26 10-QJun 30, 2026
Crawford	79	330	5.8*	not reported	—	Q3 FY26 10-QSep 30, 2026
Baldwin Insurance Group	184	493	46*	not reported	—	Q2 FY26 10-QJun 30, 2026
Goosehead Insurance	24	113	16*	not reported	—	Q2 FY26 10-QJun 30, 2026
Willis Towers Watson	1,946	2,404	739*	92.2M	—	Q3 FY26 10-QSep 30, 2026
Brown & Brown	1,099	1,725	532*	331.7M	—	Q3 FY26 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.