Ryan Specialty Holdings (RYAN) Operating Expenses (2020 - 2026)

Ryan Specialty Holdings (RYAN) reported Operating Expenses of $700.6 million for Q1 2026, up 18.77% year-over-year from $589.9 million in Q1 2025, and up 6.21% quarter-over-quarter 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.

  • Operating Expenses for Q1 2026 came in at $700.6 million, up 18.77% year-over-year; the trailing twelve-month figure through Mar 2026 was $2.7 billion (up 21.37% YoY), and the FY2025 annual result was $2.6 billion, up 22.49% from the prior year.
  • Operating Expenses climbed to $700.6 million in Q1 2026 per RYAN's latest filing, from $659.7 million in the prior quarter.
  • Over five years, Operating Expenses peaked at $700.6 million in Q1 2026 and troughed at $343.5 million in Q1 2022.
  • A 5-year average of $500.0 million and a median of $479.4 million in 2024 frame the typical range for Operating Expenses.
  • On a YoY basis, Operating Expenses climbed as much as 29.56% in 2022 and fell as far as 0.8% in 2022.
  • A 5-year view of Operating Expenses shows it stood at $355.8 million in 2022, then gained by 22.7% to $436.5 million in 2023, then rose by 26.96% to $554.2 million in 2024, then increased by 19.03% to $659.7 million in 2025, then rose by 6.21% to $700.6 million in 2026.
  • Business Quant data shows RYAN's Operating Expenses at $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 12.87 Bn 10.21 Bn 2.62 Bn 2.73 Bn
2 Axis Capital Holdings 7.52 Bn 6.65 Bn - 1.34 Bn
3 First American Financial 6.80 Bn 3.91 Bn 1.24 Bn 1.68 Bn
4 Enact Holdings 6.01 Bn 5.46 Bn 205.74 Mn 98.69 Mn
5 Mgic Investment 5.57 Bn 5.32 Bn 202.12 Mn 90.25 Mn
6 Essent 5.47 Bn 5.47 Bn - 129.35 Mn
7 Radian 4.74 Bn 4.66 Bn 368.17 Mn 292.67 Mn
8 Ryan Specialty Holdings 4.62 Bn 5.05 Bn - 700.63 Mn
9 Assured Guaranty 3.42 Bn -495.48 Mn 216.00 Mn 227.00 Mn
10 NMI Holdings 2.82 Bn 2.75 Bn 152.85 Mn 58.53 Mn

Historic Data

Download Data
DateValue
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