Ryan Specialty Holdings Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | $63.4M | $94.7M | $61.0M | $61.1M | $65.9M | $68.1M | $64.2M |
| Depreciation & Amortization | — | — | — | — | — | — | — |
| Depreciation | $13.1M | $9.8M | $9.0M | $5.7M | $4.8M | $3.9M | $4.8M |
| Amortization | $274.4M | $157.8M | $106.8M | $103.6M | $107.7M | $63.6M | — |
| Stock-Based Compensation | $69.5M | $79.0M | $69.7M | $77.5M | $67.5M | $10.8M | $8.2M |
| Net Cash from Operating Activities | $643.7M | $514.9M | $477.2M | $335.5M | $273.5M | $135.4M | $149.5M |
| Investing Activities | |||||||
| Capital Expenditures | $3.0M | $0 | $0 | $7.7M | $343.2M | $5.2M | $100.0K |
| Business Acquisitions | $746.5M | $1.71B | $446.7M | $0 | $108.9M | $718.0M | $120.9M |
| Net Cash from Investing Activities | $-834.0M | $-1.76B | $-476.2M | $-22.4M | $-457.9M | $-768.5M | $-148.0M |
| Financing Activities | |||||||
| Dividends Paid | $61.0M | $80.2M | $0 | $0 | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $78.1M | $1.17B | $-12.6M | $314.8M | $429.3M | $1.13B | $62.3M |
| Net Change in Cash | $-96.3M | $-75.5M | $-11.1M | $627.7M | $244.0M | $493.5M | $64.0M |
| Free Cash Flow | $640.7M | $514.9M | $477.2M | $327.8M | $-69.7M | $130.2M | $149.4M |