v3.25.4

Earnings Per Share | 12 Months Ended
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Dec. 31, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE Basic earnings per share is computed by dividing net income attributable to Ryan Specialty Holdings, Inc. by the weighted- average number of shares of Class A common stock outstanding during the period. Diluted earnings per share is computed giving effect to potentially dilutive shares, including LLC equity awards and the non-controlling interests’ LLC Common Units that are exchangeable into Class A common stock. As shares of Class B common stock do not share in earnings and are not participating securities, they are not included in the Company’s calculation. A reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share of Class A common stock is as follows:
| Year Ended December 31, |
| 2025 |  | 2024 |  | 2023 |
Net income | $214,157 |  | $229,913 |  | $194,480 |
Less: Net income attributable to non-controlling interests | 150,758 |  | 135,248 |  | 133,443 |
Net income attributable to Ryan Specialty Holdings, Inc. | $63,399 |  | $94,665 |  | $61,037 |
Numerator: |  |  |  |  |  |
Net income attributable to Class A common shareholders | $63,399 |  | $94,665 |  | $61,037 |
Add (less): Income attributed to substantively vested RSUs | — |  | — |  | (10) |
Net income attributable to Class A common shareholders – basic | $63,399 |  | $94,665 |  | $61,027 |
Add: Income attributed to dilutive shares | 926 |  | 255 |  | 4,185 |
Net income attributable to Class A common shareholders – diluted | $64,325 |  | $94,920 |  | $65,212 |
Denominator: |  |  |  |  |  |
Weighted-average shares of Class A common stock outstanding – basic | 127,266,889 |  | 120,781,234 |  | 114,359,968 |
Add: Dilutive shares | 10,979,525 |  | 12,110,253 |  | 11,385,171 |
Weighted-average shares of Class A common stock outstanding – diluted | 138,246,414 |  | 132,891,487 |  | 125,745,139 |
Earnings per share |  |  |  |  |  |
Earnings per share of Class A common stock – basic | $0.50 |  | $0.78 |  | $0.53 |
Earnings per share of Class A common stock – diluted | $0.47 |  | $0.71 |  | $0.52 |
The following numbers of shares were excluded from the calculation of diluted earnings per share because the effect of including such potentially dilutive shares would have been antidilutive:
| Year Ended December 31, |
| 2025 |  | 2024 |  | 2023 |
Conversion of non-controlling interest LLC Common Units 1 | 135,429,254 |  | 138,979,885 |  | 142,383,621 |
Conversion of vested Class C Incentive Units 1 | — |  | — |  | 76,397 |
Class C Incentive Units | — |  | — |  | 495,822 |
1 Weighted-average units outstanding during the period.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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