What is the latest news on RYAN?

The most recent updates on Ryan Specialty Holdings, as of August 19, 2026: Ryan Specialty entered a new material agreement; Cantor Fitzgerald lifts target to $41; UBS raises price target to $55. ClearThesis tracks every filing, earnings report, analyst move and major news story on Ryan Specialty Holdings, and explains what each one means for someone who owns the stock.

When does Ryan Specialty Holdings report earnings?

Ryan Specialty Holdings's next earnings report is expected on October 29, 2026. Analysts expect earnings of $0.51 per share on revenue of $801.3 million. We are watching organic revenue growth, which tells us how much the business is growing from its existing operations rather than just through buying other firms.

Has anything changed the investment case for Ryan Specialty Holdings?

ClearThesis currently rates the Ryan Specialty Holdings thesis as intact. The company is proving it can grow revenue even while it integrates new acquisitions and returns cash to shareholders. If you already own it, there is nothing to do here but sit tight.

Did Ryan Specialty Holdings beat expectations last quarter?

In Q2 2026, reported on July 30, 2026, Ryan Specialty Holdings posted earnings of $0.74 per share against the $0.60 analysts expected, and revenue of $916.6 million against $873.9 million expected.

Clearthesis

Ryan SpecialtyRYAN

$37.85

Updated Aug 19, 2026

Quality Score

4.0

Latest Ryan Specialty updates

Follow Ryan Specialty to never miss an important update.

$37.85

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FilingFor the record

Aug 18

Ryan Specialty entered a new material agreement

Ryan Specialty filed an 8-K with the SEC, which is a form companies use to announce major events that shareholders should know about. This specific filing confirms the company has entered into a material agreement, a term for a contract significant enough to potentially affect the business's finances or operations.

While the filing marks the agreement as important, it does not immediately change our view of the company. Ryan Specialty grows by acquiring smaller firms and expanding its network of retail brokers, so new agreements are a standard part of its strategy to remain the primary gatekeeper for complex insurance risks.

Source: 8-K filing

Analyst price updatePositive

Aug 3

Cantor Fitzgerald lifts target to $41

Cantor Fitzgerald raised its price target for the company from $34 to $41. This move follows the company's latest quarterly report and suggests analysts see more value in the business than they did previously.

While the new target is still below the current stock price of about $45, the 20 percent increase reflects a more optimistic view of the company's ability to grow its specialty insurance business.

Source: Cantor Fitzgerald

Analyst price updatePositive

Aug 3

UBS raises price target to $55

UBS raised its price target from $50 to $55. This is a modest 10 percent increase that keeps the firm's target well above the current stock price. It suggests the firm remains confident in the company's role as a middleman for complex insurance risks.

Source: UBS

Analyst price updateFor the record

Jul 31

Goldman Sachs moves target to $45

Goldman Sachs raised its price target from $40 to $45 but kept its neutral rating. This suggests the firm sees the business as fairly valued at its current price rather than a bargain to buy right now.

Source: Goldman Sachs

EarningsPositive

Jul 30

Quarterly revenue reaches $917 million

The company reported revenue of about $917 million for the quarter, which was higher than the $870 million analysts expected. Profits were also stronger than anticipated, with adjusted earnings of $0.74 per share beating the $0.60 estimate. Organic revenue growth, which measures sales from existing businesses rather than new acquisitions, was about 7 percent.

Management used its cash to reward owners, spending $260 million to buy back its own shares and paying out $24 million in dividends. This performance shows the business is successfully navigating a complex insurance market where its expertise in hard-to-place risks remains in high demand.

See the full quarter, and how our tracked metrics did

Source: 8-K filing

Ryan Specialty analyst price targets

Average target$47.78+26%vs $37.85 today

TodayAvg price

Low $31High $69

Hold19 analysts

2Bearish

8Neutral

9Bullish

FirmRatingPrice TargetDate

Mizuho Securities

Neutral

$48→$43

9/16/2026

Morgan Stanley

Overweight

$48→$50

8/19/2026

Cantor Fitzgerald

Neutral

$34→$41

8/3/2026

UBS

Buy

$50→$55

8/3/2026

Mizuho Securities

Neutral

$39→$48

7/31/2026

Piper Sandler

Neutral

$44→$48

7/31/2026

Goldman Sachs

Neutral

$40→$45

7/31/2026

Barclays

Overweight

$46→$48

7/31/2026

Atlantic Equities

—

$68→$69

7/15/2026

Piper Sandler

Neutral

$40→$44

7/15/2026

Cantor Fitzgerald

Neutral

$34

7/9/2026

Mizuho Securities

Neutral

$35→$39

7/9/2026

Ryan Specialty earnings

The company has a habit of clearing the bars set for it, beating profit expectations in each of the last four quarters. It suggests management is conservative about what they promise.

Earnings history

EstimateBeatMiss

Ryan Specialty past earnings results

	Expected	Actual	Surprise
EPS	$0.60	$0.74	+23.7%
Revenue	$874M	$917M	+4.9%

Key highlights

Strong earnings per share growth: Adjusted earnings grew 12.1% to $0.74 per share, showing that the company can increase its bottom line faster than its sales. This growth comes as the company manages its mix of specialty insurance products even while total operating expenses rose 10.9% to $736.3 million.
Organic revenue growth slowed: Organic revenue growth, which excludes the impact of buying other companies, was 6.7% compared to 7.1% a year ago. This is the first time in several quarters that this key measure of internal health has dipped below the company's 10% annual long-term target.
Underwriting management leads growth: The underwriting management division grew 12.8% to $303.8 million, far outpacing the 4.5% growth in the larger wholesale brokerage business. This shift is meaningful because underwriting management now makes up 33.6% of total commissions, up from 32.1% last year.
Massive capital return: The company returned $284.5 million to shareholders this quarter, with $260.0 million of that used to buy back 8.1 million shares. These buybacks reduce the total number of shares and can help boost the value of the remaining shares for long-term owners.
Full year outlook maintained: Management expects organic revenue growth to stay in the mid-single digits for all of 2026. They also warned that a key profit measure, adjusted EBITDAC margin, will likely fall by 0.5% to 1.0% compared to last year as they continue to invest in the business.

Our take: This was a soft quarter for Ryan Specialty as organic growth slowed to 6.7%, missing the double-digit pace we look for in this business. While the profit per share beat expectations, the rising expenses and the forecast for tighter margins through the rest of the year suggest the company is facing a tougher climb to reach its long-term goals.

Ryan Specialty’s next earnings date

Q3 2026

OCT

Expectation
EPS	$0.51
Revenue	$801M

Metrics we are tracking

Metric

Expectations

Status

Organic Revenue Growth

Staying above 10% annually for consecutive years

13.7% for FY2025

Operating Margin

Improving toward 28% by fiscal year 2031

20.7% for FY2025

FCF Conversion

Free cash flow staying above 80% of operating income

92% for FY2025

Broker Retention

Keeping voluntary turnover among top-tier brokers below 5%

Not disclosed in brief

Stay on top of Ryan Specialty

Follow Ryan Specialty to get the latest and most important updates.

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Ryan SpecialtyRYAN

$37.85

Updated Aug 19, 2026

Quality Score

4.0

Latest Ryan Specialty updates

Follow Ryan Specialty to never miss an important update.

$37.85

Loading…

FilingFor the record

Aug 18

Ryan Specialty entered a new material agreement

Source: 8-K filing

Analyst price updatePositive

Aug 3

Cantor Fitzgerald lifts target to $41

While the new target is still below the current stock price of about $45, the 20 percent increase reflects a more optimistic view of the company's ability to grow its specialty insurance business.

Source: Cantor Fitzgerald

Analyst price updatePositive

Aug 3

UBS raises price target to $55

Source: UBS

Analyst price updateFor the record

Jul 31

Goldman Sachs moves target to $45

Source: Goldman Sachs

EarningsPositive

Jul 30

Quarterly revenue reaches $917 million

See the full quarter, and how our tracked metrics did

Source: 8-K filing

Ryan Specialty analyst price targets

Average target$47.78+26%vs $37.85 today

TodayAvg price

Low $31High $69

Hold19 analysts

2Bearish

8Neutral

9Bullish

FirmRatingPrice TargetDate

Mizuho Securities

Neutral

$48→$43

9/16/2026

Morgan Stanley

Overweight

$48→$50

8/19/2026

Cantor Fitzgerald

Neutral

$34→$41

8/3/2026

UBS

Buy

$50→$55

8/3/2026

Mizuho Securities

Neutral

$39→$48

7/31/2026

Piper Sandler

Neutral

$44→$48

7/31/2026

Goldman Sachs

Neutral

$40→$45

7/31/2026

Barclays

Overweight

$46→$48

7/31/2026

Atlantic Equities

—

$68→$69

7/15/2026

Piper Sandler

Neutral

$40→$44

7/15/2026

Cantor Fitzgerald

Neutral

$34

7/9/2026

Mizuho Securities

Neutral

$35→$39

7/9/2026

Ryan Specialty earnings

The company has a habit of clearing the bars set for it, beating profit expectations in each of the last four quarters. It suggests management is conservative about what they promise.

Earnings history

EstimateBeatMiss

Ryan Specialty past earnings results

	Expected	Actual	Surprise
EPS	$0.60	$0.74	+23.7%
Revenue	$874M	$917M	+4.9%

Key highlights

Strong earnings per share growth: Adjusted earnings grew 12.1% to $0.74 per share, showing that the company can increase its bottom line faster than its sales. This growth comes as the company manages its mix of specialty insurance products even while total operating expenses rose 10.9% to $736.3 million.
Organic revenue growth slowed: Organic revenue growth, which excludes the impact of buying other companies, was 6.7% compared to 7.1% a year ago. This is the first time in several quarters that this key measure of internal health has dipped below the company's 10% annual long-term target.
Underwriting management leads growth: The underwriting management division grew 12.8% to $303.8 million, far outpacing the 4.5% growth in the larger wholesale brokerage business. This shift is meaningful because underwriting management now makes up 33.6% of total commissions, up from 32.1% last year.
Massive capital return: The company returned $284.5 million to shareholders this quarter, with $260.0 million of that used to buy back 8.1 million shares. These buybacks reduce the total number of shares and can help boost the value of the remaining shares for long-term owners.
Full year outlook maintained: Management expects organic revenue growth to stay in the mid-single digits for all of 2026. They also warned that a key profit measure, adjusted EBITDAC margin, will likely fall by 0.5% to 1.0% compared to last year as they continue to invest in the business.

Ryan Specialty’s next earnings date

Q3 2026

OCT

Expectation
EPS	$0.51
Revenue	$801M

Metrics we are tracking

Metric

Expectations

Status

Organic Revenue Growth

Staying above 10% annually for consecutive years

13.7% for FY2025

Operating Margin

Improving toward 28% by fiscal year 2031

20.7% for FY2025

FCF Conversion

Free cash flow staying above 80% of operating income

92% for FY2025

Broker Retention

Keeping voluntary turnover among top-tier brokers below 5%

Not disclosed in brief

Stay on top of Ryan Specialty

Follow Ryan Specialty to get the latest and most important updates.

Follow RYAN