← RYAN SPECIALTY HOLDINGS, INC.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| REVENUE | ||||||||
| Total operating expenses | $664.1m | $859.7m | $1.2b | $1.4b | $1.7b | $2.1b | $2.6b | |
| OPERATING INCOME | $101.0m | $158.5m | $186.6m | $289.5m | $359.1m | $427.8m | $493.6m | |
| Net commissions and fees | $758.4m | $1.0b | $1.4b | $1.7b | $2.0b | $2.5b | $3.0b | |
| Fiduciary investment income | $6.7m | $1.6m | $592k | $13.3m | $51.0m | $60.0m | $56.5m | |
| Compensation and benefits | $494.4m | $686.2m | $991.6m | $1.1b | $1.3b | $1.6b | $1.8b | |
| General and administrative | $118.2m | $107.4m | $139.0m | $197.0m | $276.2m | $352.1m | $453.5m | |
| Amortization | $48.3m | $63.6m | $107.9m | $103.6m | $106.8m | $157.8m | $274.4m | |
| Depreciation | $4.8m | $3.9m | $4.8m | $5.7m | $9.0m | $9.8m | $13.1m | |
| Change in contingent consideration | ($1.6m) | ($1.3m) | $2.9m | $442k | $5.4m | ($22.9m) | $13.1m | |
| Income from equity method investments | ($978k) | $440k | ($759k) | $414k | ($8.7m) | ($18.2m) | ($21.2m) | |
| Other non-operating loss (income) | $3.5m | ($32.3m) | ($44.9m) | $5.1m | $10.4m | $15.0m | ($692k) | |
| INCOME BEFORE INCOME TAXES | $68.0m | $79.5m | $61.6m | $179.2m | $237.9m | $272.6m | $293.2m | |
| NET INCOME | $63.1m | $70.5m | $56.6m | $163.3m | $194.5m | $229.9m | $214.2m | |
| Net income attributable to non-controlling interests, net of tax | ($1.1m) | $2.4m | ($9.2m) | $102.2m | $133.4m | $135.2m | $150.8m | |
| NET INCOME ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC. | $64.2m | $68.1m | $65.9m | $61.1m | $61.0m | $94.7m | $63.4m | |
| Basic (in USD per share) | — | — | $0.54 | $1.50 | $1.70 | $1.90 | $1.68 | |
| Diluted (in USD per share) | — | — | $0.54 | $0.61 | $1.55 | $1.73 | $1.55 | |
| Interest expense, net | — | $47.2m | $79.4m | $104.8m | $119.5m | $158.4m | $222.4m | |
| Income tax expense | ($4.9m) | ($9.0m) | ($4.9m) | $15.9m | $43.4m | $42.6m | $79.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.