RYAN SPECIALTY GROUP HOLDINGS, INC. Stock Research

Market Summary

USD38.33+0.22

Delayed

0.58%

RYAN Alerts

2 major insider buys and 1 major insider sales recently.
Big jump in Earnings (Y/Y)

RYAN Stock Price

RYAN RSI Chart

RYAN Valuation

Market Cap

4.6B

Price/Earnings (Trailing)

189.27

Price/Sales (Trailing)

2.86

EV/EBITDA

26.71

Price/Free Cashflow

13.94

RYAN Price/Sales (Trailing)

RYAN Profitability

EBT Margin

10.39%

Return on Equity

7.47%

Return on Assets

0.96%

Free Cashflow Yield

7.17%

RYAN Fundamentals

RYAN Revenue

Revenue (TTM)

1.7B

Revenue Y/Y

14.92%

Revenue Q/Q

5.59%

RYAN Earnings

Earnings (TTM)

61.1M

Earnings Y/Y

412.3%

Earnings Q/Q

52.36%

Price Action

52 Week Range

32.1346.40

(Low)(High)

Last 7 days

-2.5%

Last 30 days

-10.5%

Last 90 days

-5.5%

Trailing 12 Months

2.9%

RYAN Financial Health

Current Ratio

1.24

Debt/Equity

2.42

Debt/Cashflow

0.17

RYAN Investor Care

Financials for RYAN SPECIALTY GROUP HOLDINGS

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	3.4%	1,725	1,669	1,609	1,508	1,433
Operating Expenses	2.3%	1,436	1,403	1,406	1,318	1,246
S&GA Expenses	8.3%	197	182	172	154	139
EBITDA	10.3%	290	263	184	163	146
EBITDA Margin	6.7%	0.17*	0.16*	0.11*	0.11*	0.10*
Earnings Before Taxes	10.0%	179	163	92.00	77.00	62.00
EBT Margin	6.4%	0.10*	0.10*	0.06*	0.05*	0.04*
Interest Expenses	10.8%	105	95.00	87.00	81.00	79.00
Net Income	-35.2%	61.00	94.00	81.00	74.00	53.00
Net Income Margin	-37.3%	0.04*	0.06*	0.02*	0.04*	0.03*
Free Cahsflow	24.2%	336	270	330	283	273

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	12.2%	6,384	5,688	6,442	5,486	5,459
Current Assets	21.7%	3,894	3,200	3,955	3,041	3,011
Cash Equivalents	14.9%	1,767	1,538	1,678	1,381	1,140
Net PPE	37.9%	31.00	23.00	16.00	15.00	15.00
Goodwill	0.1%	1,315	1,314	1,313	1,314	1,309
Liabilities	12.9%	5,566	4,930	5,741	4,862	4,864
Current Liabilities	24.5%	3,134	2,518	3,347	2,505	2,918
Long Term Debt	-0.1%	1,983	1,984	1,979	1,590	-
LT Debt, Non Current	-0.1%	1,952	1,953	1,955	1,957	1,567
Shareholder's Equity	8.0%	818	758	702	624	595
Retained Earnings	49.6%	54.00	36.00	24.00	-0.15	-7.06
Additional Paid-In Capital	4.0%	418	402	386	371	349

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	24.2%	336	270	330	283	273
Share Based Compensation	-5.2%	77.00	82.00	103	86.00	68.00
Cashflow From Investing	81.9%	-22.42	-124	-464	-458	-457
Cashflow From Financing	-8.4%	315	344	828	876	429
Buy Backs	NaN%	0.00	0.00	78.00	-	-

Risks for RYAN

What is the probability of a big loss on RYAN?

22.7%

Probability that RYAN SPECIALTY GROUP HOLDINGS stock will be more than 20% underwater in next one year

Probability that RYAN SPECIALTY GROUP HOLDINGS stock will be more than 30% underwater in next one year.

Probability that RYAN SPECIALTY GROUP HOLDINGS stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does RYAN drawdown profile look like?

Y-axis is the maximum loss one would have experienced if RYAN SPECIALTY GROUP HOLDINGS was unfortunately bought at previous high price.

Drawdowns

Returns for RYAN

Cumulative Returns on RYAN

Which funds bought or sold RYAN recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	unchanged	-	6,307	338,307	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	2.21	2,497,810	58,594,800	0.06%
2023-03-06	Rockefeller Capital Management L.P.	added	142	58,000	96,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-0.01	29,993	1,414,990	-%
2023-02-24	NATIXIS	sold off	-100	-1,576,000	-	-%
2023-02-21	Empowered Funds, LLC	sold off	-100	-1,886,000	-	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	new	-	2,076	2,076	-%
2023-02-21	Wallace Advisory Group, LLC	new	-	490,731	490,731	0.39%
2023-02-21	MACQUARIE GROUP LTD	reduced	-21.85	-736,000	2,918,000	-%
2023-02-17	TRUIST FINANCIAL CORP	unchanged	-	10,365	477,365	-%

Latest Funds Activity

Are funds buying RYAN calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own RYAN

No. of Funds

RYAN Alerts

2 major insider buys and 1 major insider sales recently.
Big jump in Earnings (Y/Y)

RYAN SPECIALTY GROUP HOLDINGS News

Schedule 13G FIlings of RYAN SPECIALTY GROUP HOLDINGS

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	kayne anderson rudnick investment management llc	9.81%	11,024,503	SC 13G/A
Feb 10, 2023	ryan patrick g	56.63%	127,094,792	SC 13G/A
Feb 09, 2023	vanguard group inc	6.77%	7,612,196	SC 13G
Feb 11, 2022	ryan patrick g	56.64%	125,717,337	SC 13G
Feb 11, 2022	kayne anderson rudnick investment management llc	13.24%	14,553,721	SC 13G/A

RYAN Fair Value

Recent SEC filings of RYAN SPECIALTY GROUP HOLDINGS

View All Filings

Date Filed	Form Type	Document
Mar 22, 2023	4/A	Insider Trading
Mar 20, 2023	ARS	ARS
Mar 20, 2023	DEF 14A	DEF 14A
Mar 20, 2023	DEFA14A	DEFA14A
Mar 15, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 09, 2023	8-K	Current Report
Mar 08, 2023	4	Insider Trading
Mar 07, 2023	4	Insider Trading
Mar 01, 2023	10-K	Annual Report

Latest Insider Trading transactions for RYAN

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-14	RYAN PATRICK G	bought	7,781,650	37.3938	208,100	chief executive officer
2023-03-10	KATZ MARK STEPHEN	bought	148,603	37.1508	4,000	see remarks
2023-03-06	VANACKER MICHAEL THOMAS	acquired	-	-	45,000	see remarks
2023-03-06	VANACKER MICHAEL THOMAS	sold	-1,833,750	40.7499	-45,000	see remarks
2023-03-06	VANACKER MICHAEL THOMAS	sold	-	-	-45,000	see remarks
2022-12-21	RYAN PATRICK G	gifted	-	-	-52.00	chief executive officer
2022-12-20	RYAN PATRICK G	gifted	-	-	-26.00	chief executive officer
2022-12-15	RYAN PATRICK G	gifted	-	-	-2,436	chief executive officer
2022-12-14	Bienen Henry S	gifted	-	-	-7,190	-
2022-12-14	Bienen Henry S	gifted	-	-	7,190	-

About RYAN SPECIALTY GROUP HOLDINGS

Patrick G. Ryan

www.ryansg.com

3550

Ryan Specialty Group Holdings, Inc. operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter. The company was founded in 2010 and is headquartered in Chicago, Illinois.

RYAN Income Statement

2022-12-31

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
REVENUE
Net commissions and fees	$ 1,711,861	$ 1,432,179	$ 1,016,685
Fiduciary investment income	13,332	592	1,589
Total revenue	1,725,193	1,432,771	1,018,274
EXPENSES
Compensation and benefits	1,128,981	991,618	686,155
General and administrative	196,971	138,955	107,381
Amortization	103,601	107,877	63,567
Depreciation	5,690	4,806	3,934
Change in contingent consideration	442	2,891	(1,301)
Total operating expenses	1,435,685	1,246,147	859,736
OPERATING INCOME	289,508	186,624	158,538
Interest expense, net	104,829	79,354	47,243
Loss from equity method investment in related party	414	759	(440)
Other non-operating loss	5,073	44,947	32,270
INCOME BEFORE INCOME TAXES	179,192	61,564	79,465
Income tax expense	15,935	4,932	8,952
NET INCOME (LOSS)	163,257	56,632	70,513
Net income (loss) attributable to non-controlling interests, net of tax	102,205	(9,241)	2,409
NET INCOME ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC.	$ 61,052	$ 65,873	$ 68,104
Common Class A [Member]
NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK:
Earnings (loss) per share - basic	$ 0.57	$ (0.07)
Earnings (loss) per share - diluted	$ 0.52	$ (0.07)
WEIGHTED-AVERAGE SHARES OF CLASS A COMMON STOCK OUTSTANDING:
Basic	108,616,420	105,730,008
Diluted	265,750,444	105,730,008

RYAN Balance Sheet

2022-12-31

Consolidated Balance sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 992,723	$ 386,962
Commissions and fees receivable – net	231,423	210,252
Fiduciary cash and receivables	2,611,647	2,390,185
Prepaid incentives – net	8,584	7,726
Other current assets	49,690	15,882
Total current assets	3,894,067	3,011,007
NON-CURRENT ASSETS
Goodwill	1,314,984	1,309,267
Other intangible assets	486,444	573,930
Prepaid incentives – net	20,792	25,382
Equity method investment in related party	38,514	45,417
Property and equipment – net	31,271	15,290
Lease right-of-use assets	143,870	84,874
Deferred tax assets	396,814	382,753
Other non-current assets	56,987	10,788
Total non-current assets	2,489,676	2,447,701
TOTAL ASSETS	6,383,743	5,458,708
CURRENT LIABILITIES
Accounts payable and accrued liabilities	119,022	99,403
Accrued compensation	350,369	386,301
Operating lease liabilities	22,744	18,783
Short-term debt and current portion of long-term debt	30,587	23,469
Fiduciary liabilities	2,611,647	2,390,185
Total current liabilities	3,134,369	2,918,141
NON-CURRENT LIABILITIES
Accrued compensation	10,048	4,371
Operating lease liabilities	151,944	74,386
Long-term debt	1,951,900	1,566,627
Deferred tax liabilities	562	631
Tax receivable agreement liabilities	295,347	272,100
Other non-current liabilities	21,761	27,675
Total non-current liabilities	2,431,562	1,945,790
TOTAL LIABILITIES	5,565,931	4,863,931
STOCKHOLDER'S EQUITY
Preferred stock ($0.001 par value; 500,000,000 shares authorized, 0 shares issued and outstanding at December 31, 2022 and 2021)	0	0
Additional paid-in capital	418,123	348,865
Retained Earnings (accumulated deficit)	53,988	(7,064)
Accumulated other comprehensive income	6,035	1,714
Total stockholders' equity attributable to Ryan Specialty Holdings, Inc.	478,405	343,774
Non-controlling interests	339,407	251,003
Total stockholder's equity	817,812	594,777
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	6,383,743	5,458,708
Common Class A [Member]
STOCKHOLDER'S EQUITY
Common Stock, Value	112	110
Common Class B [Member]
STOCKHOLDER'S EQUITY
Common Stock, Value	147	149
Common Class X [Member]
STOCKHOLDER'S EQUITY
Common Stock, Value	$ 0	$ 0