Annual Income Statements for AMERISAFE
This table shows AMERISAFE's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for AMERISAFE
This table shows AMERISAFE's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
21 |
17 |
16 |
9.96 |
19 |
17 |
11 |
14 |
13 |
8.95 |
14 |
Consolidated Net Income / (Loss) |
|
21 |
17 |
16 |
9.96 |
19 |
17 |
11 |
14 |
13 |
8.95 |
14 |
Net Income / (Loss) Continuing Operations |
|
21 |
17 |
16 |
9.96 |
19 |
17 |
11 |
14 |
13 |
8.95 |
14 |
Total Pre-Tax Income |
|
26 |
22 |
20 |
12 |
24 |
21 |
14 |
18 |
17 |
11 |
17 |
Total Revenue |
|
80 |
78 |
76 |
73 |
80 |
80 |
76 |
79 |
74 |
73 |
81 |
Net Interest Income / (Expense) |
|
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
Total Interest Income |
|
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
Total Interest Expense |
|
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
Total Non-Interest Income |
|
80 |
78 |
76 |
73 |
80 |
80 |
76 |
79 |
74 |
73 |
81 |
Other Service Charges |
|
0.12 |
0.20 |
0.21 |
0.08 |
0.09 |
0.12 |
-0.08 |
0.13 |
0.08 |
0.21 |
0.07 |
Net Realized & Unrealized Capital Gains on Investments |
|
14 |
9.06 |
9.85 |
5.93 |
14 |
12 |
7.27 |
12 |
7.44 |
3.50 |
12 |
Premiums Earned |
|
66 |
69 |
66 |
67 |
66 |
68 |
69 |
67 |
67 |
69 |
69 |
Total Non-Interest Expense |
|
54 |
57 |
56 |
60 |
56 |
60 |
62 |
61 |
57 |
61 |
64 |
Salaries and Employee Benefits |
|
12 |
12 |
13 |
13 |
14 |
13 |
13 |
13 |
15 |
14 |
14 |
Property & Liability Insurance Claims |
|
37 |
40 |
36 |
38 |
34 |
41 |
42 |
40 |
35 |
41 |
42 |
Insurance Policy Acquisition Costs |
|
4.94 |
5.16 |
7.43 |
9.49 |
8.39 |
5.31 |
7.27 |
7.87 |
7.08 |
6.26 |
8.05 |
Other Operating Expenses |
|
-0.02 |
-0.02 |
-0.02 |
-0.02 |
-0.01 |
-0.02 |
-0.02 |
-0.01 |
-0.02 |
-0.02 |
-0.01 |
Income Tax Expense |
|
4.87 |
4.20 |
3.94 |
2.37 |
4.77 |
3.82 |
2.75 |
3.47 |
3.58 |
2.27 |
3.50 |
Basic Earnings per Share |
|
$1.08 |
$0.91 |
$0.82 |
$0.52 |
$0.99 |
$0.89 |
$0.58 |
$0.75 |
$0.69 |
$0.47 |
$0.73 |
Weighted Average Basic Shares Outstanding |
|
19.23M |
19.13M |
19.14M |
19.16M |
19.15M |
19.12M |
19.08M |
19.04M |
19.07M |
19.04M |
19.04M |
Diluted Earnings per Share |
|
$1.08 |
$0.90 |
$0.81 |
$0.52 |
$1.00 |
$0.88 |
$0.57 |
$0.75 |
$0.69 |
$0.47 |
$0.73 |
Weighted Average Diluted Shares Outstanding |
|
19.32M |
19.24M |
19.20M |
19.22M |
19.23M |
19.21M |
19.15M |
19.11M |
19.16M |
19.15M |
19.12M |
Weighted Average Basic & Diluted Shares Outstanding |
|
19.16M |
19.15M |
19.18M |
19.18M |
19.14M |
19.14M |
19.07M |
19.05M |
19.05M |
19.05M |
18.99M |
Cash Dividends to Common per Share |
|
$0.31 |
$0.34 |
$0.34 |
$0.34 |
$0.34 |
$0.37 |
$0.37 |
$0.37 |
$0.37 |
$0.39 |
$0.39 |
Annual Cash Flow Statements for AMERISAFE
This table details how cash moves in and out of AMERISAFE's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
-32 |
-21 |
-11 |
-3.38 |
-15 |
3.47 |
18 |
8.97 |
-9.25 |
-23 |
5.36 |
Net Cash From Operating Activities |
|
141 |
93 |
114 |
131 |
98 |
79 |
63 |
38 |
28 |
30 |
24 |
Net Cash From Continuing Operating Activities |
|
141 |
93 |
114 |
131 |
98 |
79 |
63 |
38 |
28 |
30 |
24 |
Net Income / (Loss) Continuing Operations |
|
54 |
70 |
78 |
46 |
72 |
93 |
87 |
66 |
56 |
62 |
55 |
Consolidated Net Income / (Loss) |
|
54 |
70 |
78 |
46 |
72 |
93 |
87 |
66 |
56 |
62 |
55 |
Depreciation Expense |
|
1.30 |
1.35 |
1.18 |
0.98 |
1.00 |
0.94 |
1.01 |
1.02 |
1.31 |
1.43 |
1.09 |
Amortization Expense |
|
15 |
16 |
16 |
14 |
11 |
8.66 |
8.18 |
8.87 |
6.73 |
3.03 |
1.45 |
Non-Cash Adjustments to Reconcile Net Income |
|
-0.59 |
5.83 |
-0.14 |
15 |
-2.29 |
-1.45 |
-0.35 |
-10 |
6.00 |
-5.62 |
-4.38 |
Changes in Operating Assets and Liabilities, net |
|
71 |
-1.20 |
19 |
54 |
17 |
-22 |
-32 |
-27 |
-41 |
-31 |
-29 |
Net Cash From Investing Activities |
|
-141 |
-50 |
-50 |
-52 |
-29 |
12 |
43 |
71 |
75 |
44 |
72 |
Net Cash From Continuing Investing Activities |
|
-141 |
-50 |
-50 |
-52 |
-29 |
12 |
43 |
71 |
75 |
44 |
72 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.99 |
-0.95 |
-1.64 |
-0.48 |
-1.13 |
-1.02 |
-0.92 |
-1.30 |
-2.09 |
-0.55 |
-0.84 |
Purchase of Investment Securities |
|
-453 |
-326 |
-355 |
-402 |
-368 |
-346 |
-321 |
-271 |
-215 |
-134 |
-111 |
Sale and/or Maturity of Investments |
|
313 |
277 |
306 |
351 |
340 |
359 |
365 |
343 |
293 |
178 |
184 |
Net Cash From Financing Activities |
|
-32 |
-65 |
-74 |
-83 |
-84 |
-87 |
-89 |
-100 |
-113 |
-97 |
-91 |
Net Cash From Continuing Financing Activities |
|
-32 |
-65 |
-74 |
-83 |
-84 |
-87 |
-89 |
-100 |
-113 |
-97 |
-91 |
Repayment of Debt |
|
- |
- |
- |
0.00 |
- |
- |
- |
-0.04 |
-0.06 |
-0.09 |
-0.09 |
Repurchase of Common Equity |
|
- |
- |
- |
- |
- |
- |
0.00 |
0.00 |
-12 |
-2.17 |
-5.12 |
Payment of Dividends |
|
-37 |
-69 |
-76 |
-83 |
-84 |
-87 |
-89 |
-100 |
-100 |
-93 |
-85 |
Other Financing Activities, Net |
|
5.52 |
4.05 |
1.83 |
0.00 |
0.07 |
-0.03 |
-0.05 |
0.00 |
0.00 |
-0.94 |
-0.55 |
Cash Income Taxes Paid |
|
20 |
24 |
32 |
28 |
11 |
21 |
21 |
18 |
7.79 |
14 |
12 |
Quarterly Cash Flow Statements for AMERISAFE
This table details how cash moves in and out of AMERISAFE's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Net Change in Cash & Equivalents |
|
-29 |
-20 |
-7.29 |
25 |
-21 |
-5.31 |
-2.76 |
33 |
-20 |
0.71 |
3.71 |
Net Cash From Operating Activities |
|
-7.87 |
13 |
7.28 |
5.13 |
3.97 |
7.51 |
-2.59 |
8.45 |
11 |
-1.79 |
-8.44 |
Net Cash From Continuing Operating Activities |
|
-7.86 |
13 |
7.31 |
5.15 |
3.97 |
7.51 |
-2.56 |
8.46 |
11 |
-1.79 |
-8.42 |
Net Income / (Loss) Continuing Operations |
|
21 |
17 |
16 |
9.96 |
19 |
17 |
11 |
14 |
13 |
8.95 |
14 |
Consolidated Net Income / (Loss) |
|
21 |
17 |
16 |
9.96 |
19 |
17 |
11 |
14 |
13 |
8.95 |
14 |
Depreciation Expense |
|
0.36 |
0.35 |
0.35 |
0.37 |
0.36 |
0.33 |
0.23 |
0.28 |
0.26 |
0.21 |
0.20 |
Amortization Expense |
|
1.35 |
1.09 |
0.78 |
0.51 |
0.65 |
0.52 |
0.33 |
0.23 |
0.37 |
0.26 |
0.19 |
Non-Cash Adjustments to Reconcile Net Income |
|
-3.15 |
-1.45 |
-2.76 |
2.60 |
-4.01 |
-4.25 |
0.73 |
-2.82 |
1.96 |
4.12 |
-5.07 |
Changes in Operating Assets and Liabilities, net |
|
-27 |
-3.87 |
-6.69 |
-8.29 |
-12 |
-6.01 |
-15 |
-3.55 |
-4.93 |
-15 |
-18 |
Net Cash From Investing Activities |
|
61 |
-27 |
-7.15 |
27 |
51 |
-5.72 |
11 |
33 |
34 |
9.95 |
23 |
Net Cash From Continuing Investing Activities |
|
61 |
-27 |
-7.15 |
27 |
51 |
-5.72 |
11 |
33 |
34 |
9.95 |
23 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.22 |
-0.03 |
-0.01 |
-0.49 |
-0.03 |
-0.75 |
-0.06 |
-0.02 |
-0.01 |
-0.00 |
-1.08 |
Purchase of Investment Securities |
|
-22 |
-51 |
-43 |
-29 |
-10 |
-42 |
-17 |
-27 |
-24 |
-10 |
-9.68 |
Sale and/or Maturity of Investments |
|
83 |
24 |
36 |
57 |
62 |
37 |
29 |
60 |
58 |
20 |
34 |
Net Cash From Financing Activities |
|
-83 |
-6.53 |
-7.42 |
-6.76 |
-76 |
-7.10 |
-12 |
-8.23 |
-64 |
-7.45 |
-11 |
Net Cash From Continuing Financing Activities |
|
-83 |
-6.53 |
-7.42 |
-6.76 |
-76 |
-7.10 |
-12 |
-8.23 |
-64 |
-7.45 |
-11 |
Payment of Dividends |
|
-82 |
-6.51 |
-6.62 |
-6.57 |
-74 |
-7.08 |
-7.10 |
-7.09 |
-64 |
-7.42 |
-7.49 |
Other Financing Activities, Net |
|
- |
-0.02 |
-0.76 |
-0.17 |
- |
-0.02 |
-0.41 |
-0.11 |
-0.01 |
-0.02 |
-0.65 |
Annual Balance Sheets for AMERISAFE
This table presents AMERISAFE's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
1,457 |
1,502 |
1,519 |
1,518 |
1,516 |
1,493 |
1,471 |
1,403 |
1,269 |
1,229 |
1,158 |
Cash and Due from Banks |
|
91 |
69 |
59 |
56 |
40 |
44 |
62 |
71 |
61 |
39 |
44 |
Trading Account Securities |
|
971 |
1,025 |
1,042 |
1,105 |
1,125 |
526 |
504 |
463 |
889 |
374 |
789 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Accrued Investment Income |
|
12 |
12 |
11 |
11 |
10 |
9.73 |
9.27 |
8.08 |
8.43 |
8.27 |
7.33 |
Premises and Equipment, Net |
|
7.24 |
6.18 |
6.64 |
6.13 |
6.26 |
6.33 |
6.18 |
6.46 |
7.23 |
6.35 |
5.89 |
Unearned Premiums Asset |
|
179 |
185 |
183 |
174 |
162 |
158 |
157 |
135 |
122 |
133 |
143 |
Deferred Acquisition Cost |
|
20 |
20 |
19 |
20 |
20 |
19 |
18 |
17 |
17 |
18 |
19 |
Other Assets |
|
178 |
184 |
198 |
147 |
151 |
730 |
715 |
702 |
164 |
651 |
150 |
Total Liabilities & Shareholders' Equity |
|
1,457 |
1,502 |
1,519 |
1,518 |
1,516 |
1,493 |
1,471 |
1,403 |
1,269 |
1,229 |
1,158 |
Total Liabilities |
|
1,010 |
1,048 |
1,063 |
1,093 |
1,106 |
1,063 |
1,032 |
1,003 |
952 |
937 |
900 |
Claims and Claim Expense |
|
688 |
718 |
743 |
772 |
798 |
773 |
761 |
745 |
696 |
674 |
651 |
Unearned Premiums Liability |
|
169 |
168 |
162 |
157 |
149 |
141 |
129 |
121 |
115 |
117 |
122 |
Participating Policy Holder Equity |
|
49 |
48 |
49 |
48 |
47 |
45 |
42 |
39 |
36 |
35 |
34 |
Other Long-Term Liabilities |
|
105 |
114 |
109 |
115 |
112 |
104 |
101 |
98 |
105 |
112 |
93 |
Total Equity & Noncontrolling Interests |
|
447 |
454 |
456 |
425 |
410 |
430 |
439 |
399 |
317 |
292 |
257 |
Total Preferred & Common Equity |
|
447 |
454 |
456 |
425 |
410 |
430 |
439 |
399 |
317 |
292 |
257 |
Total Common Equity |
|
447 |
454 |
456 |
425 |
410 |
430 |
439 |
399 |
317 |
292 |
257 |
Common Stock |
|
199 |
205 |
209 |
210 |
212 |
213 |
216 |
218 |
221 |
222 |
224 |
Retained Earnings |
|
267 |
269 |
270 |
234 |
221 |
227 |
225 |
190 |
146 |
114 |
84 |
Treasury Stock |
|
-22 |
-22 |
-22 |
-22 |
-22 |
-22 |
-22 |
-22 |
-35 |
-37 |
-42 |
Accumulated Other Comprehensive Income / (Loss) |
|
2.81 |
2.59 |
-0.49 |
3.61 |
-0.83 |
12 |
21 |
14 |
-14 |
-7.19 |
-8.88 |
Quarterly Balance Sheets for AMERISAFE
This table presents AMERISAFE's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q2 2022 |
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Q2 2025 |
Total Assets |
|
1,382 |
1,359 |
1,288 |
1,299 |
1,297 |
1,243 |
1,234 |
1,255 |
1,157 |
1,155 |
Cash and Due from Banks |
|
85 |
91 |
41 |
34 |
59 |
33 |
31 |
64 |
45 |
48 |
Trading Account Securities |
|
425 |
420 |
920 |
929 |
889 |
101 |
389 |
399 |
67 |
374 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Accrued Investment Income |
|
8.23 |
8.77 |
8.64 |
8.39 |
8.55 |
8.25 |
8.18 |
8.19 |
7.75 |
7.46 |
Premises and Equipment, Net |
|
6.89 |
7.38 |
6.91 |
6.56 |
6.68 |
6.77 |
6.38 |
6.13 |
5.68 |
6.56 |
Unearned Premiums Asset |
|
143 |
137 |
137 |
142 |
144 |
144 |
151 |
153 |
157 |
166 |
Deferred Acquisition Cost |
|
18 |
18 |
19 |
19 |
19 |
19 |
20 |
20 |
20 |
21 |
Other Assets |
|
695 |
677 |
156 |
160 |
170 |
931 |
629 |
604 |
854 |
531 |
Total Liabilities & Shareholders' Equity |
|
1,382 |
1,359 |
1,288 |
1,299 |
1,297 |
1,243 |
1,234 |
1,255 |
1,157 |
1,155 |
Total Liabilities |
|
997 |
986 |
955 |
958 |
961 |
942 |
933 |
940 |
896 |
890 |
Claims and Claim Expense |
|
725 |
716 |
687 |
685 |
684 |
668 |
664 |
663 |
640 |
624 |
Unearned Premiums Liability |
|
130 |
128 |
124 |
126 |
126 |
124 |
128 |
132 |
133 |
139 |
Participating Policy Holder Equity |
|
38 |
37 |
35 |
35 |
34 |
34 |
34 |
34 |
33 |
34 |
Other Long-Term Liabilities |
|
103 |
105 |
109 |
113 |
116 |
115 |
106 |
111 |
90 |
93 |
Total Equity & Noncontrolling Interests |
|
385 |
373 |
333 |
341 |
336 |
301 |
301 |
314 |
261 |
266 |
Total Preferred & Common Equity |
|
385 |
373 |
333 |
341 |
336 |
301 |
301 |
314 |
261 |
266 |
Total Common Equity |
|
385 |
373 |
333 |
341 |
336 |
301 |
301 |
314 |
261 |
266 |
Common Stock |
|
220 |
220 |
221 |
222 |
222 |
223 |
224 |
224 |
225 |
226 |
Retained Earnings |
|
202 |
207 |
156 |
165 |
169 |
124 |
128 |
135 |
86 |
92 |
Treasury Stock |
|
-28 |
-35 |
-35 |
-35 |
-35 |
-37 |
-41 |
-42 |
-42 |
-45 |
Accumulated Other Comprehensive Income / (Loss) |
|
-8.87 |
-20 |
-9.48 |
-12 |
-20 |
-8.74 |
-9.56 |
-2.68 |
-7.27 |
-7.56 |
Annual Metrics And Ratios for AMERISAFE
This table displays calculated financial ratios and metrics derived from AMERISAFE's official financial filings.
Metric |
|
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
13.38% |
-0.76% |
-1.07% |
-5.41% |
0.68% |
-1.95% |
-8.34% |
-6.94% |
-6.71% |
4.11% |
0.71% |
EBITDA Growth |
|
22.25% |
31.51% |
9.69% |
-25.34% |
2.19% |
25.92% |
-7.20% |
-23.06% |
-15.27% |
8.11% |
-12.51% |
EBIT Growth |
|
24.57% |
36.91% |
11.74% |
-27.11% |
6.49% |
31.90% |
-7.44% |
-25.69% |
-14.86% |
14.39% |
-10.75% |
NOPAT Growth |
|
22.98% |
31.30% |
10.51% |
-40.63% |
54.94% |
29.40% |
-6.57% |
-24.07% |
-15.44% |
11.70% |
-10.74% |
Net Income Growth |
|
22.98% |
31.30% |
10.51% |
-40.63% |
54.94% |
29.40% |
-6.57% |
-24.07% |
-15.44% |
11.70% |
-10.74% |
EPS Growth |
|
22.41% |
29.93% |
9.76% |
-40.74% |
54.58% |
29.38% |
-6.88% |
-24.16% |
-15.04% |
12.15% |
-10.53% |
Operating Cash Flow Growth |
|
8.92% |
-33.99% |
23.00% |
14.53% |
-24.88% |
-19.79% |
-19.57% |
-40.09% |
-25.76% |
5.85% |
-18.94% |
Free Cash Flow Firm Growth |
|
192.26% |
169.86% |
19.30% |
1.67% |
13.43% |
-17.25% |
7.98% |
34.93% |
30.64% |
-36.66% |
3.97% |
Invested Capital Growth |
|
7.23% |
1.57% |
0.48% |
-6.74% |
-3.68% |
4.99% |
2.00% |
-9.00% |
-20.51% |
-7.87% |
-12.01% |
Revenue Q/Q Growth |
|
-3.52% |
0.29% |
0.24% |
5.10% |
-1.85% |
-16.67% |
8.76% |
-0.87% |
3,278.44% |
0.12% |
-1.93% |
EBITDA Q/Q Growth |
|
-36.38% |
18.55% |
1.66% |
51.03% |
-8.71% |
59.80% |
53.12% |
892.39% |
127.29% |
-2.86% |
-9.53% |
EBIT Q/Q Growth |
|
-41.24% |
22.26% |
2.11% |
69.32% |
-9.01% |
68.71% |
60.81% |
471.53% |
123.68% |
-2.15% |
-9.41% |
NOPAT Q/Q Growth |
|
-1.07% |
9.66% |
-4.89% |
-28.50% |
33.95% |
19.63% |
-5.98% |
-27.51% |
44.93% |
-2.51% |
-9.75% |
Net Income Q/Q Growth |
|
-1.07% |
9.66% |
-4.89% |
-28.50% |
33.95% |
19.63% |
-5.98% |
-27.51% |
44.93% |
-2.51% |
-9.75% |
EPS Q/Q Growth |
|
-1.05% |
9.50% |
-5.37% |
-28.36% |
33.94% |
19.40% |
-6.09% |
-27.41% |
45.45% |
-2.42% |
-9.69% |
Operating Cash Flow Q/Q Growth |
|
6.43% |
-7.71% |
1.07% |
-2.14% |
-0.97% |
-12.42% |
-5.68% |
-9.47% |
-36.81% |
65.76% |
39.58% |
Free Cash Flow Firm Q/Q Growth |
|
263.23% |
186.31% |
20.73% |
-3.14% |
-2.38% |
6.62% |
-1.18% |
13.82% |
-5.50% |
-13.64% |
9.18% |
Invested Capital Q/Q Growth |
|
-0.34% |
-7.46% |
-10.51% |
-14.05% |
-10.73% |
-8.22% |
-8.94% |
-16.83% |
-14.90% |
-12.93% |
-18.14% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
22.35% |
29.61% |
32.84% |
25.92% |
26.30% |
33.78% |
34.20% |
28.28% |
25.68% |
26.67% |
23.17% |
EBIT Margin |
|
18.25% |
25.18% |
28.44% |
21.92% |
23.18% |
31.19% |
31.50% |
25.15% |
22.95% |
25.22% |
22.35% |
Profit (Net Income) Margin |
|
13.28% |
17.57% |
19.63% |
12.32% |
18.96% |
25.03% |
25.51% |
20.81% |
18.87% |
20.24% |
17.94% |
Tax Burden Percent |
|
72.77% |
69.79% |
69.02% |
56.21% |
81.79% |
80.24% |
81.00% |
82.77% |
82.20% |
80.27% |
80.28% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
27.23% |
30.21% |
30.98% |
43.79% |
18.21% |
19.76% |
19.00% |
17.24% |
17.80% |
19.73% |
19.72% |
Return on Invested Capital (ROIC) |
|
12.43% |
15.64% |
17.11% |
10.49% |
17.15% |
22.07% |
19.93% |
15.69% |
15.51% |
20.37% |
20.17% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Equity (ROE) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Cash Return on Invested Capital (CROIC) |
|
5.44% |
14.08% |
16.63% |
17.46% |
20.90% |
17.20% |
17.95% |
25.11% |
38.37% |
28.56% |
32.94% |
Operating Return on Assets (OROA) |
|
5.29% |
6.82% |
7.47% |
5.42% |
5.77% |
7.68% |
7.22% |
5.53% |
5.06% |
6.19% |
5.79% |
Return on Assets (ROA) |
|
3.85% |
4.76% |
5.16% |
3.04% |
4.72% |
6.16% |
5.84% |
4.58% |
4.16% |
4.97% |
4.64% |
Return on Common Equity (ROCE) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Equity Simple (ROE_SIMPLE) |
|
12.01% |
15.52% |
17.07% |
10.87% |
17.48% |
21.55% |
19.74% |
16.47% |
17.52% |
21.24% |
21.54% |
Net Operating Profit after Tax (NOPAT) |
|
54 |
70 |
78 |
46 |
72 |
93 |
87 |
66 |
56 |
62 |
55 |
NOPAT Margin |
|
13.28% |
17.57% |
19.63% |
12.32% |
18.96% |
25.03% |
25.51% |
20.81% |
18.87% |
20.24% |
17.94% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
12.97% |
12.96% |
12.89% |
13.44% |
13.81% |
14.08% |
15.04% |
14.95% |
16.28% |
16.56% |
17.88% |
Operating Expenses to Revenue |
|
81.75% |
74.82% |
71.56% |
78.08% |
76.82% |
68.81% |
68.50% |
74.85% |
77.05% |
74.78% |
77.65% |
Earnings before Interest and Taxes (EBIT) |
|
74 |
101 |
113 |
82 |
88 |
116 |
107 |
79 |
68 |
77 |
69 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
90 |
119 |
130 |
97 |
99 |
125 |
116 |
89 |
76 |
82 |
72 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.88 |
1.13 |
1.48 |
1.68 |
1.73 |
2.05 |
1.89 |
2.12 |
2.62 |
2.83 |
3.82 |
Price to Tangible Book Value (P/TBV) |
|
0.88 |
1.13 |
1.48 |
1.68 |
1.73 |
2.05 |
1.89 |
2.12 |
2.62 |
2.83 |
3.82 |
Price to Revenue (P/Rev) |
|
0.97 |
1.29 |
1.71 |
1.91 |
1.87 |
2.38 |
2.45 |
2.68 |
2.83 |
2.69 |
3.18 |
Price to Earnings (P/E) |
|
7.34 |
7.31 |
8.69 |
15.48 |
9.88 |
9.52 |
9.59 |
12.90 |
14.98 |
13.31 |
17.71 |
Dividend Yield |
|
8.32% |
12.79% |
10.77% |
11.03% |
2.40% |
9.84% |
11.25% |
11.78% |
2.85% |
3.16% |
8.69% |
Earnings Yield |
|
13.63% |
13.68% |
11.51% |
6.46% |
10.12% |
10.50% |
10.43% |
7.75% |
6.67% |
7.51% |
5.65% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.68 |
0.98 |
1.35 |
1.55 |
1.63 |
1.95 |
1.75 |
1.95 |
2.43 |
2.69 |
3.64 |
Enterprise Value to Revenue (EV/Rev) |
|
0.75 |
1.11 |
1.56 |
1.76 |
1.77 |
2.26 |
2.26 |
2.46 |
2.62 |
2.57 |
3.03 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
3.35 |
3.75 |
4.74 |
6.79 |
6.72 |
6.70 |
6.62 |
8.70 |
10.20 |
9.63 |
13.10 |
Enterprise Value to EBIT (EV/EBIT) |
|
4.10 |
4.41 |
5.47 |
8.03 |
7.62 |
7.26 |
7.19 |
9.79 |
11.41 |
10.18 |
13.58 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
5.64 |
6.33 |
7.93 |
14.28 |
9.32 |
9.05 |
8.87 |
11.82 |
13.88 |
12.69 |
16.92 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
2.15 |
4.80 |
5.41 |
5.05 |
6.79 |
10.64 |
12.12 |
20.47 |
27.37 |
26.41 |
38.77 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
12.87 |
7.03 |
8.16 |
8.58 |
7.65 |
11.61 |
9.85 |
7.39 |
5.61 |
9.05 |
10.36 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Leverage |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage Ratio |
|
3.23 |
3.28 |
3.32 |
3.45 |
3.63 |
3.58 |
3.41 |
3.43 |
3.73 |
4.10 |
4.34 |
Compound Leverage Factor |
|
3.23 |
3.28 |
3.32 |
3.45 |
3.63 |
3.58 |
3.41 |
3.43 |
3.73 |
4.10 |
4.34 |
Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
24 |
63 |
76 |
77 |
87 |
72 |
78 |
105 |
137 |
87 |
91 |
Operating Cash Flow to CapEx |
|
14,224.87% |
9,743.86% |
6,972.65% |
27,366.11% |
8,727.18% |
7,743.03% |
6,883.60% |
2,983.43% |
1,349.64% |
5,396.38% |
2,879.76% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.29 |
0.27 |
0.26 |
0.25 |
0.25 |
0.25 |
0.23 |
0.22 |
0.22 |
0.25 |
0.26 |
Fixed Asset Turnover |
|
54.64 |
59.75 |
61.90 |
58.79 |
61.00 |
58.84 |
54.26 |
49.99 |
43.08 |
45.21 |
50.51 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
447 |
454 |
456 |
425 |
410 |
430 |
439 |
399 |
317 |
292 |
257 |
Invested Capital Turnover |
|
0.94 |
0.89 |
0.87 |
0.85 |
0.90 |
0.88 |
0.78 |
0.75 |
0.82 |
1.01 |
1.12 |
Increase / (Decrease) in Invested Capital |
|
30 |
7.01 |
2.17 |
-31 |
-16 |
20 |
8.60 |
-39 |
-82 |
-25 |
-35 |
Enterprise Value (EV) |
|
303 |
446 |
618 |
660 |
668 |
839 |
768 |
778 |
772 |
788 |
938 |
Market Capitalization |
|
394 |
515 |
677 |
716 |
708 |
883 |
830 |
848 |
833 |
827 |
982 |
Book Value per Share |
|
$23.75 |
$23.78 |
$23.72 |
$22.11 |
$21.26 |
$22.29 |
$22.70 |
$20.62 |
$16.57 |
$15.25 |
$13.51 |
Tangible Book Value per Share |
|
$23.75 |
$23.78 |
$23.72 |
$22.11 |
$21.26 |
$22.29 |
$22.70 |
$20.62 |
$16.57 |
$15.25 |
$13.51 |
Total Capital |
|
447 |
454 |
456 |
425 |
410 |
430 |
439 |
399 |
317 |
292 |
257 |
Total Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Long-Term Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt |
|
-91 |
-69 |
-59 |
-56 |
-40 |
-44 |
-62 |
-71 |
-61 |
-39 |
-44 |
Capital Expenditures (CapEx) |
|
0.99 |
0.95 |
1.64 |
0.48 |
1.13 |
1.02 |
0.92 |
1.27 |
2.09 |
0.55 |
0.84 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Depreciation and Amortization (D&A) |
|
17 |
18 |
17 |
15 |
12 |
9.60 |
9.19 |
9.89 |
8.04 |
4.45 |
2.54 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$2.88 |
$3.72 |
$4.08 |
$2.41 |
$3.73 |
$4.82 |
$4.49 |
$3.40 |
$2.89 |
$3.24 |
$2.91 |
Adjusted Weighted Average Basic Shares Outstanding |
|
18.65M |
18.94M |
19.11M |
19.17M |
19.21M |
19.25M |
19.29M |
19.33M |
19.23M |
19.15M |
19.07M |
Adjusted Diluted Earnings per Share |
|
$2.84 |
$3.69 |
$4.05 |
$2.40 |
$3.71 |
$4.80 |
$4.47 |
$3.39 |
$2.88 |
$3.23 |
$2.89 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
18.93M |
19.12M |
19.20M |
19.25M |
19.29M |
19.33M |
19.36M |
19.41M |
19.32M |
19.23M |
19.16M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$4.82 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
18.92M |
19.13M |
19.23M |
19.25M |
19.27M |
19.30M |
19.33M |
19.36M |
19.16M |
19.14M |
19.05M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
54 |
70 |
78 |
46 |
72 |
93 |
87 |
66 |
56 |
62 |
55 |
Normalized NOPAT Margin |
|
13.28% |
17.57% |
19.63% |
12.32% |
18.96% |
25.03% |
25.51% |
20.81% |
18.87% |
20.24% |
17.94% |
Pre Tax Income Margin |
|
18.25% |
25.18% |
28.44% |
21.92% |
23.18% |
31.19% |
31.50% |
25.15% |
22.95% |
25.22% |
22.35% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
69.07% |
97.30% |
97.75% |
178.77% |
117.95% |
93.88% |
102.51% |
151.97% |
180.62% |
150.23% |
154.12% |
Augmented Payout Ratio |
|
69.07% |
97.30% |
97.75% |
178.77% |
117.95% |
93.88% |
102.51% |
151.97% |
202.90% |
153.73% |
163.36% |
Quarterly Metrics And Ratios for AMERISAFE
This table displays calculated financial ratios and metrics derived from AMERISAFE's official financial filings.
Metric |
|
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
135.57% |
3.81% |
11.20% |
1.77% |
0.45% |
2.61% |
0.23% |
8.34% |
-7.60% |
-9.81% |
6.93% |
EBITDA Growth |
|
108.40% |
-3.40% |
123.54% |
-13.59% |
-8.82% |
-6.02% |
-30.90% |
38.54% |
-30.24% |
-45.83% |
24.70% |
EBIT Growth |
|
107.83% |
0.53% |
174.72% |
-8.36% |
-6.64% |
-3.67% |
-29.76% |
44.34% |
-29.95% |
-45.91% |
27.00% |
NOPAT Growth |
|
486.78% |
0.05% |
154.84% |
-12.32% |
-7.69% |
-2.39% |
-29.65% |
43.80% |
-31.21% |
-47.13% |
26.94% |
Net Income Growth |
|
486.78% |
0.05% |
154.84% |
-12.32% |
-7.69% |
-2.39% |
-29.65% |
43.80% |
-31.21% |
-47.13% |
26.94% |
EPS Growth |
|
500.00% |
1.12% |
153.13% |
-11.86% |
-7.41% |
-2.22% |
-29.63% |
44.23% |
-31.00% |
-46.59% |
28.07% |
Operating Cash Flow Growth |
|
-192.02% |
89.18% |
-59.28% |
-53.67% |
150.39% |
-44.26% |
-135.62% |
64.63% |
172.93% |
-123.87% |
-225.73% |
Free Cash Flow Firm Growth |
|
138.58% |
14.46% |
-32.91% |
-60.26% |
-56.99% |
-38.96% |
-15.79% |
-23.91% |
9.38% |
1.12% |
-2.36% |
Invested Capital Growth |
|
-20.51% |
-15.79% |
-11.54% |
-9.96% |
-7.87% |
-9.54% |
-11.62% |
-6.40% |
-12.01% |
-13.38% |
-11.77% |
Revenue Q/Q Growth |
|
11.74% |
-1.66% |
-3.54% |
-3.99% |
10.29% |
0.47% |
-5.79% |
3.78% |
-5.93% |
-1.93% |
11.70% |
EBITDA Q/Q Growth |
|
78.99% |
-16.02% |
-9.91% |
-36.19% |
88.88% |
-13.45% |
-33.76% |
27.95% |
-4.90% |
-32.79% |
52.49% |
EBIT Q/Q Growth |
|
90.69% |
-16.04% |
-9.13% |
-37.00% |
94.26% |
-13.37% |
-33.75% |
29.46% |
-5.73% |
-33.10% |
55.56% |
NOPAT Q/Q Growth |
|
82.89% |
-16.55% |
-9.87% |
-36.26% |
92.56% |
-11.76% |
-35.05% |
30.30% |
-7.89% |
-32.17% |
55.94% |
Net Income Q/Q Growth |
|
82.89% |
-16.55% |
-9.87% |
-36.26% |
92.56% |
-11.76% |
-35.05% |
30.30% |
-7.89% |
-32.17% |
55.94% |
EPS Q/Q Growth |
|
83.05% |
-16.67% |
-10.00% |
-35.80% |
92.31% |
-12.00% |
-35.23% |
31.58% |
-8.00% |
-31.88% |
55.32% |
Operating Cash Flow Q/Q Growth |
|
-171.06% |
271.06% |
-45.96% |
-29.48% |
-22.70% |
89.21% |
-134.53% |
425.96% |
28.15% |
-116.55% |
-371.15% |
Free Cash Flow Firm Q/Q Growth |
|
-13.36% |
-22.32% |
-24.71% |
-21.57% |
-6.23% |
10.24% |
3.87% |
-29.13% |
34.79% |
1.92% |
0.30% |
Invested Capital Q/Q Growth |
|
-14.90% |
4.86% |
2.32% |
-1.38% |
-12.93% |
2.96% |
-0.03% |
4.45% |
-18.14% |
1.35% |
1.82% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
34.30% |
29.29% |
27.36% |
18.18% |
31.14% |
26.83% |
18.86% |
23.25% |
23.51% |
16.11% |
21.99% |
EBIT Margin |
|
32.16% |
27.45% |
25.86% |
16.97% |
29.89% |
25.77% |
18.12% |
22.61% |
22.66% |
15.46% |
21.53% |
Profit (Net Income) Margin |
|
26.05% |
22.11% |
20.65% |
13.71% |
23.94% |
21.03% |
14.50% |
18.20% |
17.82% |
12.33% |
17.21% |
Tax Burden Percent |
|
81.01% |
80.52% |
79.86% |
80.81% |
80.10% |
81.59% |
79.98% |
80.50% |
78.66% |
79.75% |
79.95% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
18.99% |
19.48% |
20.14% |
19.19% |
19.90% |
18.41% |
20.02% |
19.50% |
21.34% |
20.25% |
20.05% |
Return on Invested Capital (ROIC) |
|
21.42% |
18.07% |
17.38% |
11.86% |
24.09% |
20.49% |
13.97% |
17.64% |
20.04% |
13.21% |
18.61% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Equity (ROE) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Cash Return on Invested Capital (CROIC) |
|
38.37% |
32.42% |
30.19% |
28.45% |
28.56% |
29.48% |
30.13% |
25.51% |
32.94% |
31.23% |
30.30% |
Operating Return on Assets (OROA) |
|
7.09% |
6.10% |
5.89% |
3.92% |
7.34% |
6.29% |
4.42% |
5.59% |
5.87% |
3.88% |
5.52% |
Return on Assets (ROA) |
|
5.75% |
4.91% |
4.70% |
3.16% |
5.88% |
5.13% |
3.54% |
4.50% |
4.62% |
3.09% |
4.42% |
Return on Common Equity (ROCE) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
16.71% |
19.12% |
18.97% |
0.00% |
20.49% |
18.96% |
19.54% |
0.00% |
18.20% |
18.99% |
Net Operating Profit after Tax (NOPAT) |
|
21 |
17 |
16 |
9.96 |
19 |
17 |
11 |
14 |
13 |
8.95 |
14 |
NOPAT Margin |
|
26.05% |
22.11% |
20.65% |
13.71% |
23.94% |
21.03% |
14.50% |
18.20% |
17.82% |
12.33% |
17.21% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
15.65% |
15.08% |
16.58% |
17.73% |
16.92% |
16.63% |
17.35% |
17.01% |
20.70% |
19.75% |
16.89% |
Operating Expenses to Revenue |
|
67.84% |
72.55% |
74.14% |
83.03% |
70.11% |
74.23% |
81.88% |
77.39% |
77.34% |
84.54% |
78.47% |
Earnings before Interest and Taxes (EBIT) |
|
26 |
22 |
20 |
12 |
24 |
21 |
14 |
18 |
17 |
11 |
17 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
27 |
23 |
21 |
13 |
25 |
22 |
14 |
18 |
17 |
12 |
18 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
2.62 |
2.54 |
2.72 |
2.59 |
2.83 |
3.17 |
2.79 |
2.93 |
3.82 |
3.84 |
3.14 |
Price to Tangible Book Value (P/TBV) |
|
2.62 |
2.54 |
2.72 |
2.59 |
2.83 |
3.17 |
2.79 |
2.93 |
3.82 |
3.84 |
3.14 |
Price to Revenue (P/Rev) |
|
2.83 |
2.84 |
3.03 |
2.84 |
2.69 |
3.09 |
2.72 |
2.92 |
3.18 |
3.32 |
2.72 |
Price to Earnings (P/E) |
|
14.98 |
15.18 |
14.21 |
13.64 |
13.31 |
15.46 |
14.72 |
15.00 |
17.71 |
21.09 |
16.52 |
Dividend Yield |
|
2.85% |
2.88% |
2.69% |
2.94% |
3.16% |
2.79% |
3.24% |
3.00% |
8.69% |
8.56% |
10.34% |
Earnings Yield |
|
6.67% |
6.59% |
7.04% |
7.33% |
7.51% |
6.47% |
6.79% |
6.67% |
5.65% |
4.74% |
6.05% |
Enterprise Value to Invested Capital (EV/IC) |
|
2.43 |
2.41 |
2.62 |
2.41 |
2.69 |
3.06 |
2.69 |
2.73 |
3.64 |
3.67 |
2.95 |
Enterprise Value to Revenue (EV/Rev) |
|
2.62 |
2.70 |
2.92 |
2.64 |
2.57 |
2.98 |
2.62 |
2.72 |
3.03 |
3.18 |
2.56 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
10.20 |
10.72 |
10.32 |
9.61 |
9.63 |
11.44 |
10.93 |
10.84 |
13.10 |
15.50 |
12.03 |
Enterprise Value to EBIT (EV/EBIT) |
|
11.41 |
11.85 |
11.11 |
10.24 |
10.18 |
12.02 |
11.44 |
11.25 |
13.58 |
16.06 |
12.41 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
13.88 |
14.44 |
13.69 |
12.71 |
12.69 |
14.92 |
14.18 |
13.97 |
16.92 |
20.15 |
15.56 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
27.37 |
23.24 |
37.21 |
44.98 |
26.41 |
38.55 |
57.75 |
49.50 |
38.77 |
64.22 |
86.78 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
5.61 |
6.80 |
8.14 |
8.03 |
9.05 |
9.85 |
8.37 |
10.34 |
10.36 |
10.90 |
9.14 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to Equity |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Financial Leverage |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage Ratio |
|
3.73 |
3.68 |
3.69 |
3.75 |
4.10 |
3.99 |
3.95 |
3.92 |
4.34 |
4.27 |
4.22 |
Compound Leverage Factor |
|
3.73 |
3.68 |
3.69 |
3.75 |
4.10 |
3.99 |
3.95 |
3.92 |
4.34 |
4.27 |
4.22 |
Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to EBITDA |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Long-Term Debt to NOPAT |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
103 |
80 |
60 |
47 |
44 |
49 |
51 |
36 |
48 |
49 |
49 |
Operating Cash Flow to CapEx |
|
-3,627.65% |
42,081.25% |
145,540.00% |
1,047.35% |
15,257.69% |
1,006.17% |
-4,628.57% |
35,204.17% |
77,335.71% |
-89,600.00% |
-780.31% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.22 |
0.22 |
0.23 |
0.23 |
0.25 |
0.24 |
0.24 |
0.25 |
0.26 |
0.25 |
0.26 |
Fixed Asset Turnover |
|
43.08 |
44.65 |
45.39 |
43.60 |
45.21 |
45.18 |
47.75 |
49.20 |
50.51 |
48.41 |
47.33 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
317 |
333 |
341 |
336 |
292 |
301 |
301 |
314 |
257 |
261 |
266 |
Invested Capital Turnover |
|
0.82 |
0.82 |
0.84 |
0.86 |
1.01 |
0.97 |
0.96 |
0.97 |
1.12 |
1.07 |
1.08 |
Increase / (Decrease) in Invested Capital |
|
-82 |
-62 |
-44 |
-37 |
-25 |
-32 |
-40 |
-22 |
-35 |
-40 |
-35 |
Enterprise Value (EV) |
|
772 |
803 |
891 |
810 |
788 |
921 |
809 |
858 |
938 |
956 |
785 |
Market Capitalization |
|
833 |
844 |
925 |
869 |
827 |
954 |
840 |
922 |
982 |
1,001 |
833 |
Book Value per Share |
|
$16.57 |
$17.38 |
$17.78 |
$17.51 |
$15.25 |
$15.75 |
$15.73 |
$16.49 |
$13.51 |
$13.69 |
$13.94 |
Tangible Book Value per Share |
|
$16.57 |
$17.38 |
$17.78 |
$17.51 |
$15.25 |
$15.75 |
$15.73 |
$16.49 |
$13.51 |
$13.69 |
$13.94 |
Total Capital |
|
317 |
333 |
341 |
336 |
292 |
301 |
301 |
314 |
257 |
261 |
266 |
Total Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Long-Term Debt |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Debt |
|
-61 |
-41 |
-34 |
-59 |
-39 |
-33 |
-31 |
-64 |
-44 |
-45 |
-48 |
Capital Expenditures (CapEx) |
|
0.22 |
0.03 |
0.01 |
0.49 |
0.03 |
0.75 |
0.06 |
0.02 |
0.01 |
0.00 |
1.08 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Depreciation and Amortization (D&A) |
|
1.71 |
1.44 |
1.13 |
0.88 |
1.00 |
0.85 |
0.56 |
0.51 |
0.63 |
0.48 |
0.38 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.08 |
$0.91 |
$0.82 |
$0.52 |
$0.99 |
$0.89 |
$0.58 |
$0.75 |
$0.69 |
$0.47 |
$0.73 |
Adjusted Weighted Average Basic Shares Outstanding |
|
19.23M |
19.13M |
19.14M |
19.16M |
19.15M |
19.12M |
19.08M |
19.04M |
19.07M |
19.04M |
19.04M |
Adjusted Diluted Earnings per Share |
|
$1.08 |
$0.90 |
$0.81 |
$0.52 |
$1.00 |
$0.88 |
$0.57 |
$0.75 |
$0.69 |
$0.47 |
$0.73 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
19.32M |
19.24M |
19.20M |
19.22M |
19.23M |
19.21M |
19.15M |
19.11M |
19.16M |
19.15M |
19.12M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
19.16M |
19.15M |
19.18M |
19.18M |
19.14M |
19.14M |
19.07M |
19.05M |
19.05M |
19.05M |
18.99M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
21 |
17 |
16 |
9.96 |
19 |
17 |
11 |
14 |
13 |
8.95 |
14 |
Normalized NOPAT Margin |
|
26.05% |
22.11% |
20.65% |
13.71% |
23.94% |
21.03% |
14.50% |
18.20% |
17.82% |
12.33% |
17.21% |
Pre Tax Income Margin |
|
32.16% |
27.45% |
25.86% |
16.97% |
29.89% |
25.77% |
18.12% |
22.61% |
22.66% |
15.46% |
21.53% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
180.62% |
181.53% |
155.95% |
160.37% |
150.23% |
152.17% |
165.38% |
154.48% |
154.12% |
180.75% |
170.90% |
Augmented Payout Ratio |
|
202.90% |
181.53% |
166.22% |
160.60% |
153.73% |
152.17% |
176.39% |
166.35% |
163.36% |
180.75% |
178.44% |
Key Financial Trends
AMERISAFE Inc. (NASDAQ: AMSF) has shown steady operational and financial performance over the past four years, through Q2 2025, with several positive trends and some challenges worth noting for investors.
Positive Trends:
- Net income has generally increased from $6.13 million in Q2 2022 to $13.95 million in Q2 2025, indicating a solid growth trajectory in profitability.
- Earnings per share improved from $0.32 in Q2 2022 to $0.73 in Q2 2025 on a diluted basis, reflecting effective earnings growth and stable share count.
- Total revenue grew steadily, driven primarily by premiums earned increasing from approximately $65.6 million in Q2 2022 to nearly $69.4 million in Q2 2025.
- Investment gains have been strong, with net realized and unrealized capital gains rising significantly to $11.64 million in Q2 2025, supporting non-interest income growth.
- The company maintains substantial cash and liquid assets, with cash and equivalents rising to $48.47 million as of Q2 2025 and trading securities valued at $374 million, enhancing financial flexibility.
- Capital return to shareholders is consistent, with dividends maintained at or above $0.31 per share quarterly over the years, supplemented by share repurchases especially in 2023.
- Total shareholder equity has grown from around $300 million in mid-2022 to approximately $265.6 million in Q2 2025, indicating solid capital base despite share repurchases and treasury stock effects.
Neutral Factors:
- Total liabilities remain high relative to equity (approx. $889 million liabilities vs $265 million equity in Q2 2025), typical for insurance companies but worth monitoring for risk management.
- There is a consistent amortization and depreciation expense ranging around $180K-$350K each quarter, reflecting ongoing investment in fixed assets and intangibles.
- Operating cash flows have fluctuated, with recent negative net cash from continuing operating activities (-$8.4 million in Q2 2025 versus positive earlier quarters), likely due to changes in operating capital.
Areas of Concern:
- Net cash from operating activities was negative in Q2 2025 at approximately -$8.44 million, a notable shift from positive operating cash flow in prior quarters, driven by significant changes in operating assets and liabilities (-$17.68 million), which may affect short-term liquidity.
- Insurance claim expenses are substantial and have generally increased from about $361 million in Q2 2022 to $624 million by Q2 2025, compressing margins and requiring close attention.
- Dividends and financing cash outflows remain high, with payments of around $7.5 million in dividends each quarter and net financing cash outflows over $10 million in Q2 2025, steadily reducing cash reserves unless offset by investing or operating inflows.
- Unearned premiums liability remains large (~$138 million in Q2 2025), representing premiums received but not yet earned, impacting working capital management.
Summary: AMERISAFE shows consistent revenue and earnings growth aided by strong investment income and disciplined capital returns. However, the recent downturn in operating cash flow and rising claim expenses may warrant cautious monitoring. The company’s balance sheet remains strong with solid equity and liquidity positions, underpinned by conservative asset management typical of the insurance industry.
Retail investors should watch for continued operational cash flow improvement, claim expense trends, and the company's ability to sustain dividends and share buybacks while funding growth.
08/09/25 02:32 AMAI Generated. May Contain Errors.