Enact Holdings, Inc. vs RYAN SPECIALTY HOLDINGS, INC., two Insurance Brokers stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Two small caps that make money in opposite ways. Ryan Specialty places hard-to-write risk through wholesale and managing-general-agent channels, taking a thin 3.44% net margin on the flow but converting it into a 14.43% free-cash yield. Enact holds mortgage-insurance risk directly and books a 54.49% margin, with an 11.16% free-cash yield close behind. Leverage is the sharp divide: Ryan runs debt-to-equity of 2.93, Enact just 0.14. The market values Ryan at 3.51 times book and Enact at 1.21. Returns on equity land near each other, 8.92% for Ryan against 12.66% for Enact. At $4.3B and $6.5B, both are minnows next to the big brokers.
Comparison updated 2026-07-11.
| Metric | ACT | RYAN |
|---|---|---|
| Price | $44.74 | $40.41 |
| Market cap | $6.4B | $4.4B |
| Sector | Financial Services | Financial Services |
| Stage | Mature | Growth |
| P/E | 9.7 | — |
| P/B | 1.19 | 3.64 |
| P/S | 5.14 | 1.41 |
| EV/EBITDA | — | 15.6 |
| Revenue growth | +2.0% | +19.1% |
| Operating margin | — | 11.9% |
| Net margin | 54.5% | 3.4% |
| Return on equity | 12.7% | 8.9% |
| Return on assets | 9.7% | 1.0% |
| Dividend yield | 1.8% | — |
| Debt / equity | 0.14 | 2.93 |
| Current ratio | — | 1.02 |
| Piotroski F (quality) | 7 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.