Stock fact sheet · data as of
Ryan Specialty Holdings, Inc. (RYAN): fair value, margin of safety and Wheel Score
Financial Services · Insurance - Brokers · United States · Blend
Is RYAN undervalued?
Ryan Specialty Holdings, Inc. (RYAN) closed at 38.00 on 16 Oct 2026, close to the GLS average fair value of 37.02 (2.7% above fair value). 3 of the 8 models that produced a number sit above the price, 5 below - the market and our models roughly agree. With little margin of safety either way, the case for or against the stock rests on the quality numbers and the option premium rather than on price.
The 8 models disagree widely: DDM gives 7.50 while Payback Time gives 91.60. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files RYAN under Blend.
Nine valuation models for RYAN
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 11.72 | -69% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 46.96 | +24% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 17.63 | -54% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 16.91 | -56% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 87.13 | +129% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 91.60 | +141% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 7.50 | -80% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 16.68 | -56% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -70.96 | -287% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 46.56 | +23% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health RYAN scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is 6.0 out of 10: a ten-year record that is consistent in some of the metrics the score tracks (revenue, earnings, margins, cash flow, returns on capital) and patchy in others.
Returns on capital are thin or negative - ROIC 1.5%, ROE 9.8%, ROA 0.6% - with debt at 5.45 times equity and a free-cash-flow yield of 10.7%. Debt of 5.45 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is 1.34% with a payout ratio of 35% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Wholesale Brokerage 55%, Underwriting Management 34%, Binding Authorities 11% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 2/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 1.5% |
|---|---|---|---|
| GLS Moat | 6.0 / 10 | ROE | 9.8% |
| Debt / equity | 5.45 | ROA | 0.6% |
| Free-cash-flow yield | 10.7% | Payout ratio | 35% |
| Institutions | 10 / 10 | Insiders · Congress | 2 · 5 / 10 |
Wheel Score 73: Good
RYAN scores 73 out of 100 on the Wheel Score (Good band, 65-79). The score blends the margin of safety (Value, 11/25), Piotroski health (16/20), the GLS moat (9/15), the option premium on offer (20/20) and how easily the stock trades (17/20). Value (11/25) is the part holding the score back.
Implied volatility is 61% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (20 of 20) because volatility this high usually comes with a reason. Chain open interest is 4,800 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.0M shares a day on a market cap of $4.6B, with a beta of 0.60 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 17 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 11 / 25 | -3% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 9 / 15 | moat 6.0/10 | |
| Premium | 20 / 20 | implied volatility 61% | |
| Stability | 17 / 20 | 1.0M shares/day, $4.6B cap, beta 0.60 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Ryan Specialty Holdings, Inc. reports earnings on 29 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Insurance - Brokers
The 12 companies below are the closest to Ryan Specialty Holdings, Inc. by market cap within the Insurance - Brokers industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CRVL CorVel Corporation | 80.29 | 64.08 | -25% | 58Fair | $4.1B |
| NP Neptune Insurance Holdings Inc. | 29.45 | 10.62 | -177% | 62Fair | $2.8B |
| BWIN The Baldwin Insurance Group, Inc. | 31.93 | 25.55 | -25% | 45Weak | $2.6B |
| LIFE Ethos Technologies Inc. | 38.76 | 15.70 | -147% | 23Weak | $2.5B |
| GSHD Goosehead Insurance, Inc | 45.60 | 65.62 | +31% | 73Good | $1.7B |
| BRO Brown & Brown, Inc. | 67.98 | 87.34 | +22% | 87Prime | $22.7B |
| WTW Willis Towers Watson Public Limited Company | 297.09 | 377.39 | +21% | 81Prime | $27.6B |
| WDH Waterdrop Inc. | 1.03 | 51.43 | +98% | 39No options | $373M |
| AON Aon plc | 286.80 | 403.95 | +29% | 89Prime | $60.8B |
| AJG Arthur J. Gallagher & Co. | 250.10 | 152.67 | -64% | 62Fair | $64.1B |
| TWFG TWFG, Inc. Common Stock | 24.11 | 27.32 | +12% | 39No options | $311M |
| MRSH Marsh & McLennan Companies, Inc. | 186.54 | 158.32 | -18% | 68Good | $89.0B |
⚖ Compare RYAN with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about RYAN
Is RYAN undervalued right now?
Not meaningfully: at 38.00 the stock trades within a few percent of the GLS average fair value of 37.02 (2.7% above fair value, data as of 16 Oct 2026).
What is the Wheel Score of RYAN and what does it mean?
RYAN scores 73 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for RYAN?
37.02 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Ryan Specialty Holdings, Inc. report earnings next?
The next earnings report is due on 29 Oct 2026 (after the close), 13 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does RYAN have listed options, and how liquid are they?
Yes. The nightly snapshot found 286 listed contracts with 4,800 open interest across all expiries and implied volatility of 61% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.