Ryan Specialty Holdings (RYAN) Operating Expenses (2020 - 2026)
Ryan Specialty Holdings (RYAN) posted quarterly Operating Expenses of $736.3 million for Q2 2026, up 10.87% year-over-year from $664.1 million in Q2 2025, and up 5.1% on a QoQ basis from $700.6 million in Q1 2026.
Ryan Specialty Holdings (RYAN) Operating Expenses (2020 - 2026) Analysis & Trends
Ryan Specialty Holdings has reported Operating Expenses for 7 years, with the latest figure at $736.3 million in Q2 2026.
- Operating Expenses for Q2 2026 came in at $736.3 million, up 10.87% year-over-year; the trailing twelve-month figure through Jun 2026 was $2.7 billion (up 17.54% YoY), and the FY2025 annual result was $2.6 billion, up 22.49% from the prior year.
- Operating Expenses grew to $736.3 million in Q2 2026, from $700.6 million in the prior quarter.
- Over five years, Operating Expenses peaked at $736.3 million in Q2 2026 and troughed at $343.5 million in Q1 2022.
- A 5-year average of $513.1 million and a median of $501.3 million in 2024 frame the typical range for Operating Expenses.
- The largest YoY upside for Operating Expenses was 29.56% in 2022 against a maximum downside of 0.8% in 2022.
- A 5-year view of Operating Expenses shows it stood at $355.8 million in 2022, then advanced by 22.7% to $436.5 million in 2023, then gained by 26.96% to $554.2 million in 2024, then rose by 19.03% to $659.7 million in 2025, then gained by 11.62% to $736.3 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $736.3 million in Q2 2026, $700.6 million in Q1 2026, and $659.7 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Fidelity National Financial | 12.71 Bn | 8.14 Bn | 3.59 Bn | 3.71 Bn |
| 2 | First American Financial | 7.40 Bn | 4.28 Bn | 1.77 Bn | 1.83 Bn |
| 3 | Axis Capital Holdings | 7.28 Bn | 6.49 Bn | 819.78 Mn | 1.44 Bn |
| 4 | Enact Holdings | 6.86 Bn | 6.36 Bn | 284.04 Mn | 97.34 Mn |
| 5 | Mgic Investment | 6.46 Bn | 6.23 Bn | 284.40 Mn | 65.46 Mn |
| 6 | Essent | 6.22 Bn | 6.22 Bn | 313.73 Mn | 132.37 Mn |
| 7 | Ryan Specialty Holdings | 5.38 Bn | 5.24 Bn | - | 736.33 Mn |
| 8 | Radian | 4.96 Bn | 4.22 Bn | 380.01 Mn | 424.24 Mn |
| 9 | NMI Holdings | 3.45 Bn | 3.37 Bn | 157.40 Mn | 50.95 Mn |
| 10 | Assured Guaranty | 3.29 Bn | -503.07 Mn | 156.00 Mn | 135.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 736.33 Mn |
| 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 |