Filing Flows › Financials › Ryan Specialty Holdings (RYAN)
Ryan Specialty Holdings (RYAN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Ryan Specialty Holdings (RYAN) Q3 2026 earnings results →
Q3 2026 Revenue up 5% year over year to $790M · 5¢ of every $1 of revenue kept as net profit · operating margin 17.8%
Ryan Specialty Holdings made $790M in Q3 2026 (+5% Y/Y): Wholesale Brokerage $394M, Underwriting Management $288M, Binding Authority $93.0M. Operating margin 17.8%, net earnings $36.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $790.0M in Q3 2026, up 5% year over year and down 14% from the previous quarter. Wholesale Brokerage was the largest line at 50% of revenue. Wholesale Brokerage added $17.5M year over year (up 5%), 49% of the total change.
Operating profit was $140.8M, a 17.8% margin (up 3.1 points year over year). Of the extra revenue versus Q3 2025, 85% reached operating profit, above the 15% margin then. Total costs grew 1% against revenue growth of 5%. Net earnings were $36.7M, up 18% year over year. The effective tax rate was 8.5%.
Operating cash flow was $181.3M (up 7% year over year), 206% of net income including minority interests. Non-cash charges added back $4.3M of depreciation and $13.2M of share-based compensation. Working capital and other items added $75.7M. Capital expenditures of $21.8M left free cash flow of $159.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $790M | +5% | 17.8% | $36.7M | $181M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $917M | +7% | 19.7% | $42.3M | $293M |
| Q1 2026 | 10-Q | May 1, 2026 | $795M | +15% | 11.9% | $17.6M | −$167M |
| Q4 2025 | 10-K | Feb 13, 2026 | $751M | +13% | 12.2% | $8.0M | $263M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $755M | +25% | 14.7% | $31.1M | $170M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $855M | +23% | 22.3% | $52.0M | $354M |
| Q1 2025 | 10-Q | May 2, 2025 | $690M | +25% | 14.5% | −$4.4M | −$143M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Ryan Specialty Holdings
provides specialty products, solutions, and services for insurance brokers, agents, and carriers. We provide distribution, professional lines, transportation, personal lines, workers’ compensation, and employee benefits insurance. Our mission is
In its own words, from its 10-K, filed Feb 13, 2026.
Ryan Specialty Holdings against its Insurance Agents, Brokers & Service peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +8%. Operating margin: 17.8% against the peers' median 17.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RYAN Ryan Specialty Holdings | Q3 2026 | $790M | +5% | 17.8% |
| MRSH Marsh & McLennan Companies | Q3 2026 | $6.9B | +8% | 17.7% |
| AON Aon | Q3 2026 | $4.1B | +3% | 19.7% |
| AJG Arthur J. Gallagher | Q3 2026 | $4.0B | +18% | 13.0% |
| EQH Equitable Holdings | Q3 2026 | $3.9B | +168% | 35.8% |
| WTW Willis Towers Watson | Q3 2026 | $2.5B | +8% | 17.4% |
| BRO Brown & Brown | Q3 FY27 | $1.7B | +7% | 18.6% |
| ERIE Erie Indemnity | Q3 2026 | $1.1B | +0.3% | 19.4% |
| BWIN Baldwin Insurance Group | Q2 2026 | $493M | +30% | -1.7% |
Source: Ryan Specialty Holdings 10-Q on SEC EDGAR · CIK 1849253 · Insurance Agents, Brokers & Service
Guidance and outlook
13F: who owns RYAN and who is buying
More on RYAN
- How Ryan Specialty Holdings makes money: revenue by segment
- Ryan Specialty Holdings next earnings date and what analysts expect
- Ryan Specialty Holdings stock forecast, price target and fair value
- Who owns Ryan Specialty Holdings stock: holders, funds and Congress trades
- Ryan Specialty Holdings guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Ryan Specialty Holdings operating margin by quarter
- Ryan Specialty Holdings net income by quarter
- Ryan Specialty Holdings free cash flow by quarter
- Ryan Specialty Holdings capital expenditures by quarter
- Ryan Specialty Holdings Wholesale Brokerage revenue by quarter
- Ryan Specialty Holdings Underwriting Management revenue by quarter
- Ryan Specialty Holdings Binding Authority revenue by quarter