The characterization of Finsler spaces with Ricci curvature is an ancient and cumbersome one. In this paper, we have derived an expression of Ricci curvature for the homogeneous generalized Matsumoto change. Moreover, we have deduced the expression of Ricci curvature for the aforementioned space with vanishing the S-curvature. These findings contribute significantly to understanding the complex nature of Finsler spaces and their curvature properties.