RYAN vs BWIN

For growth investors, Ryan Specialty Holdings, Inc.

(RYAN) is the stronger pick with 21. 3% revenue growth year-over-year, versus 9. 3% for The Baldwin Insurance Group, Inc. (BWIN). Ryan Specialty Holdings, Inc. (RYAN) offers the better valuation at 62. 5x trailing P/E (13. 8x forward), making it the more compelling value choice. Analysts rate Ryan Specialty Holdings, Inc. (RYAN) a "Buy" — based on 19 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On forward P/E, The Baldwin Insurance Group, Inc.

is actually cheaper at 10. 3x — notably different from the trailing picture, reflecting expected earnings growth.

Over the past 5 years, Ryan Specialty Holdings, Inc.

(RYAN) delivered a total return of +11. 5%, compared to -31. 5% for The Baldwin Insurance Group, Inc. (BWIN). Over 10 years, the gap is even starker: RYAN returned +11. 5% versus BWIN's -31. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Ryan Specialty Holdings, Inc.

(RYAN) is the lower-risk stock at 0. 23β versus The Baldwin Insurance Group, Inc. 's 0. 52β — meaning BWIN is approximately 126% more volatile than RYAN relative to the S&P 500. On balance sheet safety, The Baldwin Insurance Group, Inc. (BWIN) carries a lower debt/equity ratio of 163% versus 3% for Ryan Specialty Holdings, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Ryan Specialty Holdings, Inc.

(RYAN) is pulling ahead at 21. 3% versus 9. 3% for The Baldwin Insurance Group, Inc. (BWIN). On earnings-per-share growth, the picture is similar: The Baldwin Insurance Group, Inc. grew EPS -28. 2% year-over-year, compared to -33. 8% for Ryan Specialty Holdings, Inc.. Over a 3-year CAGR, RYAN leads at 20. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Ryan Specialty Holdings, Inc.

(RYAN) is the more profitable company, earning 2. 1% net margin versus -2. 2% for The Baldwin Insurance Group, Inc. — meaning it keeps 2. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: RYAN leads at 20. 5% versus 7. 3% for BWIN. At the gross margin level — before operating expenses — RYAN leads at 90. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, The Baldwin Insurance Group, Inc.

(BWIN) trades at 10. 3x forward P/E versus 13. 8x for Ryan Specialty Holdings, Inc. — 3. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for RYAN: 55. 2% to $45. 60.

In this comparison, RYAN (0.

8% yield) pays a dividend. BWIN does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Ryan Specialty Holdings, Inc.

(RYAN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 23), 0. 8% yield). Both have compounded well over 10 years (RYAN: +11. 5%, BWIN: -31. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: RYAN is a small-cap high-growth stock; BWIN is a small-cap quality compounder stock. RYAN pays a dividend while BWIN does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.