Fidelity National Financial, Inc. (FNF) vs Ryan Specialty Holdings Inc. (RYAN)

Fidelity National Financial, Inc. and Ryan Specialty Holdings Inc. are both Insurance Specialty companies. Fidelity National Financial, Inc. is the larger, with a market value of $11.0B against $9.4B — 1.2× the size. Fidelity National Financial, Inc. trades at the lower P/E: 14.6× against 49.2×. Ryan Specialty Holdings Inc. grew revenue faster over the last twelve months: 14.4% against 13.0%. Fidelity National Financial, Inc. has the higher net margin (5.03% vs 3.08%) and the higher return on invested capital (11.3% vs 6.62%). Across the 22 metrics below, Fidelity National Financial, Inc. leads on 13 and Ryan Specialty Holdings Inc. on 9.

Valuation

Metric FNF RYAN Insurance Specialty median
P/E 14.62 49.21 9.15
P/S 0.72 1.48 1.84
P/B 1.26 4.67 1.16
Price to free cash flow 2.04 9.63 8.16
EV/EBITDA 4.14 10.62 7.51
EV/Sales 0.77 2.56 2.17
Earnings yield 6.84% 2.03% 10.79%
Free cash flow yield 49.08% 10.38% 11.79%

Profitability

Metric FNF RYAN Insurance Specialty median
Gross margin 55.91% 100.00% 73.81%
Operating margin 12.91% 14.83% 17.70%
Net margin 5.03% 3.08% 13.80%
Free cash flow margin 35.34% 15.31% 34.47%
Return on equity 8.76% 9.01% 12.01%
Return on assets 0.71% 0.88% 4.12%
Return on invested capital 11.32% 6.62% 8.77%

Growth

Metric FNF RYAN Insurance Specialty median
Revenue growth (TTM) 13.03% 14.36% 7.53%
EPS growth (last fiscal year) (50.71%) (33.80%) —
Revenue growth, 5-year CAGR 6.03% 24.54% 2.24%
Net income growth, 5-year CAGR (15.85%) (1.42%) 0.00%

Health

Metric FNF RYAN Insurance Specialty median
Debt to equity 0.50 3.58 0.15
Current ratio 0.25 1.00 0.53
Net debt to EBITDA 0.71 4.00 0.28

Dividend

Metric FNF RYAN Insurance Specialty median
Dividend yield 3.60% — 2.60%
Payout ratio 1.32 0.00 0.21

Size

Metric FNF RYAN Insurance Specialty median
Market cap 10.95b 9.40b 3.13b

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