Ryan Specialty Holdings (RYAN) Operating Expenses (2020 - 2026)
Ryan Specialty Holdings' (RYAN) quarterly Operating Expenses came in at $700.6 million in Q1 2026, up 18.77% year-on-year from $589.9 million in Q1 2025, and up 6.21% on a QoQ basis from $659.7 million in Q4 2025.
Ryan Specialty Holdings (RYAN) Operating Expenses (2020 - 2026) Analysis & Trends
Ryan Specialty Holdings (RYAN) has 7 years of Operating Expenses data on file, last reported at $700.6 million in Q1 2026.
- On a quarterly basis, Operating Expenses rose 18.77% year-over-year to $700.6 million in Q1 2026; TTM through Mar 2026 was $2.7 billion, a 21.37% increase from a year earlier, with the FY2025 full-year figure at $2.6 billion, up 22.49% from the prior year.
- Operating Expenses for Q1 2026 stood at $700.6 million, up from $659.7 million in the prior quarter.
- Over the last five years, Operating Expenses for RYAN reached as high as $700.6 million in Q1 2026 and fell as low as $343.5 million in Q1 2022.
- Historically, Operating Expenses has averaged $500.0 million across 5 years, with a median of $479.4 million in 2024.
- On a YoY basis, Operating Expenses climbed as much as 29.56% in 2022 and fell as far as 0.8% in 2022.
- Year by year, Operating Expenses stood at $355.8 million in 2022, then grew by 22.7% to $436.5 million in 2023, then climbed by 26.96% to $554.2 million in 2024, then advanced by 19.03% to $659.7 million in 2025, then climbed by 6.21% to $700.6 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $700.6 million in Q1 2026, $659.7 million in Q4 2025, and $643.8 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Fidelity National Financial | 13.08 Bn | 10.42 Bn | 3.16 Bn | 2.73 Bn |
| 2 | Axis Capital Holdings | 8.50 Bn | 7.97 Bn | 613.18 Mn | 1.34 Bn |
| 3 | First American Financial | 7.10 Bn | 4.22 Bn | 1.77 Bn | 1.83 Bn |
| 4 | Enact Holdings | 6.51 Bn | 5.96 Bn | 205.69 Mn | 98.69 Mn |
| 5 | Mgic Investment | 6.26 Bn | 6.23 Bn | 263.84 Mn | 90.25 Mn |
| 6 | Essent | 6.05 Bn | 6.05 Bn | 211.88 Mn | 129.35 Mn |
| 7 | Radian | 5.96 Bn | 5.91 Bn | 304.36 Mn | 2.23 Mn |
| 8 | Assured Guaranty | 3.78 Bn | 3.28 Bn | 65.00 Mn | 227.00 Mn |
| 9 | NMI Holdings | 3.17 Bn | 3.10 Bn | 134.15 Mn | 58.53 Mn |
| 10 | Ryan Specialty Holdings | 438.74 Mn | 866.94 Mn | - | 700.63 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 700.63 Mn |
| Dec 31, 2025 | 659.65 Mn |
| Sep 30, 2025 | 643.79 Mn |
| Jun 30, 2025 | 664.12 Mn |
| Mar 31, 2025 | 589.93 Mn |
| Dec 31, 2024 | 554.21 Mn |
| Sep 30, 2024 | 523.22 Mn |
| Jun 30, 2024 | 531.07 Mn |
| Mar 31, 2024 | 479.40 Mn |
| Dec 31, 2023 | 436.53 Mn |
| Sep 30, 2023 | 432.12 Mn |
| Jun 30, 2023 | 462.31 Mn |
| Mar 31, 2023 | 387.51 Mn |
| Dec 31, 2022 | 355.77 Mn |
| Sep 30, 2022 | 350.65 Mn |
| Jun 30, 2022 | 385.76 Mn |
| Mar 31, 2022 | 343.50 Mn |
| Dec 31, 2021 | 323.29 Mn |
| Sep 30, 2021 | 353.50 Mn |
| Jun 30, 2021 | 297.75 Mn |