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
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