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AMERISAFE (AMSF) Financials

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$24.25 -0.40 (-1.61%)
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Annual Income Statements for AMERISAFE

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.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 70 78 46 72 93 87 66 56 62 55 47
Consolidated Net Income / (Loss)		 70 78 46 72 93 87 66 56 62 55 47
Net Income / (Loss) Continuing Operations		 70 78 46 72 93 87 66 56 62 55 47
Total Pre-Tax Income 		101 113 82 88 116 107 79 68 77 69 59
Total Revenue		 401 397 375 378 370 339 316 295 307 309 317
Net Interest Income / (Expense)		 0.00 0.00 0.00 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 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 0.00 0.00 0.00
Total Non-Interest Income		 401 397 375 378 370 339 316 295 307 309 317
Other Service Charges		 0.32 0.35 0.42 0.60 0.32 0.35 0.50 0.47 0.58 0.26 0.45
Net Realized & Unrealized Capital Gains on Investments		 25 28 29 27 37 35 39 23 39 38 34
Premiums Earned		 376 369 346 350 333 304 276 272 267 271 283
Total Non-Interest Expense		 300 284 293 290 255 233 236 227 229 240 258
Salaries and Employee Benefits		 52 51 50 52 52 51 47 48 51 55 58
Property & Liability Insurance Claims		 216 203 214 209 181 157 165 155 151 157 170
Insurance Policy Acquisition Costs		 32 29 28 29 22 24 25 24 28 28 30
Other Operating Expenses		 - - - - - -0.03 -0.08 0.04 -0.06 -0.07 -0.04
Income Tax Expense		 31 35 36 16 23 20 14 12 15 14 12
Basic Earnings per Share		 $3.72 $4.08 $2.41 $3.73 $4.82 $4.49 $3.40 $2.89 $3.24 $2.91 $2.48
Weighted Average Basic Shares Outstanding		 18.94M 19.11M 19.17M 19.21M 19.25M 19.29M 19.33M 19.23M 19.15M 19.07M 18.98M
Diluted Earnings per Share		 $3.69 $4.05 $2.40 $3.71 $4.80 $4.47 $3.39 $2.88 $3.23 $2.89 $2.47
Weighted Average Diluted Shares Outstanding		 19.12M 19.20M 19.25M 19.29M 19.33M 19.36M 19.41M 19.32M 19.23M 19.16M 19.08M
Weighted Average Basic & Diluted Shares Outstanding		 18.90M 19.10M 19.20M 19.20M 19.20M 19.33M 19.36M 19.16M 19.14M 19.05M 18.79M
Cash Dividends to Common per Share		 $0.60 $0.72 $0.80 $0.88 $1.00 $1.08 $1.16 $1.24 $1.36 $1.48 $1.56

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 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 19 17 11 14 13 8.95 14 14 10 8.15 15
Consolidated Net Income / (Loss)		 19 17 11 14 13 8.95 14 14 10 8.15 15
Net Income / (Loss) Continuing Operations		 19 17 11 14 13 8.95 14 14 10 8.15 15
Total Pre-Tax Income 		24 21 14 18 17 11 17 17 13 10 18
Total Revenue		 80 80 76 79 74 73 81 82 82 80 92
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 80 76 79 74 73 81 82 82 80 92
Other Service Charges		 0.09 0.12 -0.08 0.13 0.08 0.21 0.07 0.10 0.07 0.08 0.14
Net Realized & Unrealized Capital Gains on Investments		 14 12 7.27 12 7.44 3.50 12 11 7.93 4.94 15
Premiums Earned		 66 68 69 67 67 69 69 71 74 75 77
Total Non-Interest Expense		 56 60 62 61 57 61 64 64 69 70 74
Salaries and Employee Benefits		 14 13 13 13 15 14 14 15 16 15 15
Property & Liability Insurance Claims		 34 41 42 40 35 41 42 42 45 48 49
Insurance Policy Acquisition Costs		 8.39 5.31 7.27 7.87 7.08 6.26 8.05 7.59 8.25 7.59 9.13
Other Operating Expenses		 -0.01 -0.02 -0.02 -0.01 -0.02 -0.02 -0.01 -0.01 -0.01 -0.01 -0.01
Income Tax Expense		 4.77 3.82 2.75 3.47 3.58 2.27 3.50 3.66 2.27 2.02 3.67
Basic Earnings per Share		 $0.99 $0.89 $0.58 $0.75 $0.69 $0.47 $0.73 $0.73 $0.55 $0.43 $0.79
Weighted Average Basic Shares Outstanding		 19.15M 19.12M 19.08M 19.04M 19.07M 19.04M 19.04M 18.98M 18.98M 18.76M 18.58M
Diluted Earnings per Share		 $1.00 $0.88 $0.57 $0.75 $0.69 $0.47 $0.73 $0.72 $0.55 $0.43 $0.78
Weighted Average Diluted Shares Outstanding		 19.23M 19.21M 19.15M 19.11M 19.16M 19.15M 19.12M 19.07M 19.08M 18.86M 18.70M
Weighted Average Basic & Diluted Shares Outstanding		 19.14M 19.14M 19.07M 19.05M 19.05M 19.05M 18.99M 18.92M 18.79M 18.70M 18.54M
Cash Dividends to Common per Share		 $0.34 $0.37 $0.37 $0.37 $0.37 $0.39 $0.39 $0.39 $0.39 $0.41 $0.41

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -21 -11 -3.38 -15 3.47 18 8.97 -9.25 -23 5.36 18
Net Cash From Operating Activities		 93 114 131 98 79 63 38 28 30 24 11
Net Cash From Continuing Operating Activities		 93 114 131 98 79 63 38 28 30 24 11
Net Income / (Loss) Continuing Operations		 70 78 46 72 93 87 66 56 62 55 47
Consolidated Net Income / (Loss)		 70 78 46 72 93 87 66 56 62 55 47
Depreciation Expense		 1.35 1.18 0.98 1.00 0.94 1.01 1.02 1.31 1.43 1.09 0.74
Amortization Expense		 16 16 14 11 8.66 8.18 8.87 6.73 3.03 1.45 0.56
Non-Cash Adjustments to Reconcile Net Income		 5.83 -0.14 15 -2.29 -1.45 -0.35 -10 6.00 -5.62 -4.38 -3.47
Changes in Operating Assets and Liabilities, net		 -1.20 19 54 17 -22 -32 -27 -41 -31 -29 -34
Net Cash From Investing Activities		 -50 -50 -52 -29 12 43 71 75 44 72 68
Net Cash From Continuing Investing Activities		 -50 -50 -52 -29 12 43 71 75 44 72 68
Purchase of Property, Leasehold Improvements and Equipment		 -0.95 -1.64 -0.48 -1.13 -1.02 -0.92 -1.30 -2.09 -0.55 -0.84 -2.15
Purchase of Investment Securities		 -326 -355 -402 -368 -346 -321 -271 -215 -134 -111 -67
Sale and/or Maturity of Investments		 277 306 351 340 359 365 343 293 178 184 138
Net Cash From Financing Activities		 -65 -74 -83 -84 -87 -89 -100 -113 -97 -91 -62
Net Cash From Continuing Financing Activities		 -65 -74 -83 -84 -87 -89 -100 -113 -97 -91 -62
Repayment of Debt		 - - 0.00 - - - -0.04 -0.06 -0.09 -0.09 -0.09
Repurchase of Common Equity		 - - - - - 0.00 0.00 -12 -2.17 -5.12 -12
Payment of Dividends		 -69 -76 -83 -84 -87 -89 -100 -100 -93 -85 -49
Other Financing Activities, Net		 4.05 1.83 0.00 0.07 -0.03 -0.05 0.00 0.00 -0.94 -0.55 -0.82
Cash Income Taxes Paid		 24 32 28 11 21 21 18 7.79 15 13 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 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -21 -5.31 -2.76 33 -20 0.71 3.71 6.28 7.18 -28 31
Net Cash From Operating Activities		 3.97 7.51 -2.59 8.45 11 -1.79 -8.44 11 11 -2.70 1.79
Net Cash From Continuing Operating Activities		 3.97 7.51 -2.56 8.46 11 -1.78 -8.42 11 11 -2.69 1.79
Net Income / (Loss) Continuing Operations		 19 17 11 14 13 8.95 14 14 10 8.15 15
Consolidated Net Income / (Loss)		 19 17 11 14 13 8.95 14 14 10 8.15 15
Depreciation Expense		 0.36 0.33 0.23 0.28 0.26 0.21 0.20 0.18 0.15 0.18 0.18
Amortization Expense		 0.65 0.52 0.33 0.23 0.37 0.26 0.19 0.05 0.07 0.01 -0.02
Non-Cash Adjustments to Reconcile Net Income		 -4.01 -4.25 0.73 -2.82 1.96 4.13 -5.07 -3.16 0.64 2.14 -6.65
Changes in Operating Assets and Liabilities, net		 -12 -6.01 -15 -3.55 -4.93 -15 -18 -0.23 -0.62 -13 -6.32
Net Cash From Investing Activities		 51 -5.72 11 33 34 9.95 23 4.61 31 -12 43
Net Cash From Continuing Investing Activities		 51 -5.72 11 33 34 9.95 23 4.61 31 -12 43
Purchase of Property, Leasehold Improvements and Equipment		 -0.03 -0.75 -0.06 -0.02 -0.01 -0.00 -1.08 -0.89 -0.17 -0.03 -0.00
Purchase of Investment Securities		 -10 -42 -17 -27 -24 -10 -9.68 -20 -27 -35 -7.41
Sale and/or Maturity of Investments		 62 37 29 60 58 20 34 25 58 23 50
Net Cash From Financing Activities		 -76 -7.10 -12 -8.23 -64 -7.45 -11 -9.01 -34 -13 -13
Net Cash From Continuing Financing Activities		 -76 -7.10 -12 -8.23 -64 -7.45 -11 -9.01 -34 -13 -13
Repurchase of Common Equity		 -2.17 - - -1.01 -0.00 0.00 - -1.35 -7.96 -4.03 -5.62
Payment of Dividends		 -74 -7.08 -7.10 -7.09 -64 -7.42 -7.49 -7.50 -26 -7.77 -7.63
Other Financing Activities, Net		 - -0.02 -0.41 -0.11 -0.01 0.00 -0.65 -0.20 0.06 -0.71 -0.04

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,502 1,519 1,518 1,516 1,493 1,471 1,403 1,269 1,229 1,158 1,131
Cash and Due from Banks		 69 59 56 40 44 62 71 61 39 44 62
Trading Account Securities		 1,025 1,042 1,105 1,125 526 504 463 889 374 376 735
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 11 11 10 9.73 9.27 8.08 8.43 8.27 7.33 6.96
Premises and Equipment, Net		 6.18 6.64 6.13 6.26 6.33 6.18 6.46 7.23 6.35 5.89 7.29
Unearned Premiums Asset		 185 183 174 162 158 157 135 122 133 143 161
Deferred Acquisition Cost		 20 19 20 20 19 18 17 17 18 19 21
Other Assets		 184 198 147 151 730 715 702 164 651 563 137
Total Liabilities & Shareholders' Equity		 1,502 1,519 1,518 1,516 1,493 1,471 1,403 1,269 1,229 1,158 1,131
Total Liabilities		 1,048 1,063 1,093 1,106 1,063 1,032 1,003 952 937 900 879
Claims and Claim Expense		 718 743 772 798 773 761 745 696 674 651 614
Unearned Premiums Liability		 168 162 157 149 141 129 121 115 117 122 136
Participating Policy Holder Equity		 48 49 48 47 45 42 39 36 35 34 34
Other Long-Term Liabilities		 114 109 115 112 104 101 98 105 112 93 96
Total Equity & Noncontrolling Interests		 454 456 425 410 430 439 399 317 292 257 252
Total Preferred & Common Equity		 454 456 425 410 430 439 399 317 292 257 252
Total Common Equity		 454 456 425 410 430 439 399 317 292 257 252
Common Stock		 205 209 210 212 213 216 218 221 222 224 226
Retained Earnings		 269 270 234 221 227 225 190 146 114 84 83
Treasury Stock		 -22 -22 -22 -22 -22 -22 -22 -35 -37 -42 -54
Accumulated Other Comprehensive Income / (Loss)		 2.59 -0.49 3.61 -0.83 12 21 14 -14 -7.19 -8.88 -3.22

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,288 1,299 1,297 1,243 1,234 1,255 1,157 1,155 1,165 1,123 1,127
Cash and Due from Banks		 41 34 59 33 31 64 45 48 55 34 65
Trading Account Securities		 920 929 889 101 389 399 67 374 762 739 705
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		 8.64 8.39 8.55 8.25 8.18 8.19 7.75 7.46 7.63 7.20 6.93
Premises and Equipment, Net		 6.91 6.56 6.68 6.77 6.38 6.13 5.68 6.56 7.27 7.14 6.95
Unearned Premiums Asset		 137 142 144 144 151 153 157 166 168 175 183
Deferred Acquisition Cost		 19 19 19 19 20 20 20 21 22 22 23
Other Assets		 156 160 170 931 629 604 854 531 143 138 137
Total Liabilities & Shareholders' Equity		 1,288 1,299 1,297 1,243 1,234 1,255 1,157 1,155 1,165 1,123 1,127
Total Liabilities		 955 958 961 942 933 940 896 890 890 876 877
Claims and Claim Expense		 687 685 684 668 664 663 640 624 618 602 594
Unearned Premiums Liability		 124 126 126 124 128 132 133 139 144 145 149
Participating Policy Holder Equity		 35 35 34 34 34 34 33 34 34 33 33
Other Long-Term Liabilities		 109 113 116 115 106 111 90 93 95 96 101
Total Equity & Noncontrolling Interests		 333 341 336 301 301 314 261 266 275 247 250
Total Preferred & Common Equity		 333 341 336 301 301 314 261 266 275 247 250
Total Common Equity		 333 341 336 301 301 314 261 266 275 247 250
Common Stock		 221 222 222 223 224 224 225 226 226 227 228
Retained Earnings		 156 165 169 124 128 135 86 92 98 83 90
Treasury Stock		 -35 -35 -35 -37 -41 -42 -42 -45 -46 -58 -64
Accumulated Other Comprehensive Income / (Loss)		 -9.48 -12 -20 -8.74 -9.56 -2.68 -7.27 -7.56 -3.68 -5.67 -3.98

Annual Metrics And Ratios for AMERISAFE

This table displays calculated financial ratios and metrics derived from AMERISAFE's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 18,924,399.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 18,924,399.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.49
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -0.76% -1.07% -5.41% 0.68% -1.95% -8.34% -6.94% -6.71% 4.11% 0.71% 2.66%
EBITDA Growth		 31.51% 9.69% -25.34% 2.19% 25.92% -7.20% -23.06% -15.27% 8.11% -12.51% -15.98%
EBIT Growth		 36.91% 11.74% -27.11% 6.49% 31.90% -7.44% -25.69% -14.86% 14.39% -10.75% -14.78%
NOPAT Growth		 31.30% 10.51% -40.63% 54.94% 29.40% -6.57% -24.07% -15.44% 11.70% -10.74% -14.96%
Net Income Growth		 31.30% 10.51% -40.63% 54.94% 29.40% -6.57% -24.07% -15.44% 11.70% -10.74% -14.96%
EPS Growth		 29.93% 9.76% -40.74% 54.58% 29.38% -6.88% -24.16% -15.04% 12.15% -10.53% -14.53%
Operating Cash Flow Growth		 -33.99% 23.00% 14.53% -24.88% -19.79% -19.57% -40.09% -25.76% 5.85% -18.94% -54.24%
Free Cash Flow Firm Growth		 169.86% 19.30% 1.67% 13.43% -17.25% 7.98% 34.93% 30.64% -36.66% 3.97% -41.59%
Invested Capital Growth		 1.57% 0.48% -6.74% -3.68% 4.99% 2.00% -9.00% -20.51% -7.87% -12.01% -2.23%
Revenue Q/Q Growth		 0.29% 0.24% 5.10% -1.85% -16.67% 8.76% -0.87% 3,278.44% 0.12% -1.93% 2.44%
EBITDA Q/Q Growth		 18.55% 1.66% 51.03% -8.71% 59.80% 53.12% 892.39% 127.29% -2.86% -9.53% -6.94%
EBIT Q/Q Growth		 22.26% 2.11% 69.32% -9.01% 68.71% 60.81% 471.53% 123.68% -2.15% -9.41% -6.48%
NOPAT Q/Q Growth		 9.66% -4.89% -28.50% 33.95% 19.63% -5.98% -27.51% 44.93% -2.51% -9.75% -5.55%
Net Income Q/Q Growth		 9.66% -4.89% -28.50% 33.95% 19.63% -5.98% -27.51% 44.93% -2.51% -9.75% -5.55%
EPS Q/Q Growth		 9.50% -5.37% -28.36% 33.94% 19.40% -6.09% -27.41% 45.45% -2.42% -9.69% -5.36%
Operating Cash Flow Q/Q Growth		 -7.71% 1.07% -2.14% -0.97% -12.42% -5.68% -9.47% -36.81% 65.76% 39.58% -1.81%
Free Cash Flow Firm Q/Q Growth		 186.31% 20.73% -3.14% -2.38% 6.62% -1.18% 13.82% -5.50% -13.64% 9.18% -40.92%
Invested Capital Q/Q Growth		 -7.46% -10.51% -14.05% -10.73% -8.22% -8.94% -16.83% -14.90% -12.93% -18.14% -8.43%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 29.61% 32.84% 25.92% 26.30% 33.78% 34.20% 28.28% 25.68% 26.67% 23.17% 18.96%
EBIT Margin		 25.18% 28.44% 21.92% 23.18% 31.19% 31.50% 25.15% 22.95% 25.22% 22.35% 18.55%
Profit (Net Income) Margin		 17.57% 19.63% 12.32% 18.96% 25.03% 25.51% 20.81% 18.87% 20.24% 17.94% 14.86%
Tax Burden Percent		 69.79% 69.02% 56.21% 81.79% 80.24% 81.00% 82.77% 82.20% 80.27% 80.28% 80.11%
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		 30.21% 30.98% 43.79% 18.21% 19.76% 19.00% 17.24% 17.80% 19.73% 19.72% 19.89%
Return on Invested Capital (ROIC)		 15.64% 17.11% 10.49% 17.15% 22.07% 19.93% 15.69% 15.51% 20.37% 20.17% 18.53%
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)		 14.08% 16.63% 17.46% 20.90% 17.20% 17.95% 25.11% 38.37% 28.56% 32.94% 20.78%
Operating Return on Assets (OROA)		 6.82% 7.47% 5.42% 5.77% 7.68% 7.22% 5.53% 5.06% 6.19% 5.79% 5.14%
Return on Assets (ROA)		 4.76% 5.16% 3.04% 4.72% 6.16% 5.84% 4.58% 4.16% 4.97% 4.64% 4.12%
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)		 15.52% 17.07% 10.87% 17.48% 21.55% 19.74% 16.47% 17.52% 21.24% 21.54% 18.74%
Net Operating Profit after Tax (NOPAT)		 70 78 46 72 93 87 66 56 62 55 47
NOPAT Margin		 17.57% 19.63% 12.32% 18.96% 25.03% 25.51% 20.81% 18.87% 20.24% 17.94% 14.86%
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		 12.96% 12.89% 13.44% 13.81% 14.08% 15.04% 14.95% 16.28% 16.56% 17.88% 18.39%
Operating Expenses to Revenue		 74.82% 71.56% 78.08% 76.82% 68.81% 68.50% 74.85% 77.05% 74.78% 77.65% 81.45%
Earnings before Interest and Taxes (EBIT)		 101 113 82 88 116 107 79 68 77 69 59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 119 130 97 99 125 116 89 76 82 72 60
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.13 1.48 1.68 1.73 2.05 1.89 2.12 2.62 2.83 3.82 2.85
Price to Tangible Book Value (P/TBV)		 1.13 1.48 1.68 1.73 2.05 1.89 2.12 2.62 2.83 3.82 2.85
Price to Revenue (P/Rev)		 1.29 1.71 1.91 1.87 2.38 2.45 2.68 2.83 2.69 3.18 2.26
Price to Earnings (P/E)		 7.31 8.69 15.48 9.88 9.52 9.59 12.90 14.98 13.31 17.71 15.23
Dividend Yield		 12.79% 10.77% 11.03% 2.40% 9.84% 11.25% 11.78% 2.85% 3.16% 8.69% 6.75%
Earnings Yield		 13.68% 11.51% 6.46% 10.12% 10.50% 10.43% 7.75% 6.67% 7.51% 5.65% 6.57%
Enterprise Value to Invested Capital (EV/IC)		 0.98 1.35 1.55 1.63 1.95 1.75 1.95 2.43 2.69 3.64 2.61
Enterprise Value to Revenue (EV/Rev)		 1.11 1.56 1.76 1.77 2.26 2.26 2.46 2.62 2.57 3.03 2.07
Enterprise Value to EBITDA (EV/EBITDA)		 3.75 4.74 6.79 6.72 6.70 6.62 8.70 10.20 9.63 13.10 10.90
Enterprise Value to EBIT (EV/EBIT)		 4.41 5.47 8.03 7.62 7.26 7.19 9.79 11.41 10.18 13.58 11.15
Enterprise Value to NOPAT (EV/NOPAT)		 6.33 7.93 14.28 9.32 9.05 8.87 11.82 13.88 12.69 16.92 13.91
Enterprise Value to Operating Cash Flow (EV/OCF)		 4.80 5.41 5.05 6.79 10.64 12.12 20.47 27.37 26.41 38.77 59.25
Enterprise Value to Free Cash Flow (EV/FCFF)		 7.03 8.16 8.58 7.65 11.61 9.85 7.39 5.61 9.05 10.36 12.40
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		 3.28 3.32 3.45 3.63 3.58 3.41 3.43 3.73 4.10 4.34 4.50
Compound Leverage Factor		 3.28 3.32 3.45 3.63 3.58 3.41 3.43 3.73 4.10 4.34 4.50
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)		 63 76 77 87 72 78 105 137 87 91 53
Operating Cash Flow to CapEx		 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% 515.36%
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		 0.27 0.26 0.25 0.25 0.25 0.23 0.22 0.22 0.25 0.26 0.28
Fixed Asset Turnover		 59.75 61.90 58.79 61.00 58.84 54.26 49.99 43.08 45.21 50.51 48.14
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 454 456 425 410 430 439 399 317 292 257 252
Invested Capital Turnover		 0.89 0.87 0.85 0.90 0.88 0.78 0.75 0.82 1.01 1.12 1.25
Increase / (Decrease) in Invested Capital		 7.01 2.17 -31 -16 20 8.60 -39 -82 -25 -35 -5.74
Enterprise Value (EV)		 446 618 660 668 839 768 778 772 788 938 656
Market Capitalization		 515 677 716 708 883 830 848 833 827 982 718
Book Value per Share		 $23.78 $23.72 $22.11 $21.26 $22.29 $22.70 $20.62 $16.57 $15.25 $13.51 $13.29
Tangible Book Value per Share		 $23.78 $23.72 $22.11 $21.26 $22.29 $22.70 $20.62 $16.57 $15.25 $13.51 $13.29
Total Capital		 454 456 425 410 430 439 399 317 292 257 252
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		 -69 -59 -56 -40 -44 -62 -71 -61 -39 -44 -62
Capital Expenditures (CapEx)		 0.95 1.64 0.48 1.13 1.02 0.92 1.27 2.09 0.55 0.84 2.15
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)		 18 17 15 12 9.60 9.19 9.89 8.04 4.45 2.54 1.31
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.72 $4.08 $2.41 $3.73 $4.82 $4.49 $3.40 $2.89 $3.24 $2.91 $2.48
Adjusted Weighted Average Basic Shares Outstanding		 18.94M 19.11M 19.17M 19.21M 19.25M 19.29M 19.33M 19.23M 19.15M 19.07M 18.98M
Adjusted Diluted Earnings per Share		 $3.69 $4.05 $2.40 $3.71 $4.80 $4.47 $3.39 $2.88 $3.23 $2.89 $2.47
Adjusted Weighted Average Diluted Shares Outstanding		 19.12M 19.20M 19.25M 19.29M 19.33M 19.36M 19.41M 19.32M 19.23M 19.16M 19.08M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $4.82 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 19.13M 19.23M 19.25M 19.27M 19.30M 19.33M 19.36M 19.16M 19.14M 19.05M 18.79M
Normalized Net Operating Profit after Tax (NOPAT)		 70 78 46 72 93 87 66 56 62 55 47
Normalized NOPAT Margin		 17.57% 19.63% 12.32% 18.96% 25.03% 25.51% 20.81% 18.87% 20.24% 17.94% 14.86%
Pre Tax Income Margin		 25.18% 28.44% 21.92% 23.18% 31.19% 31.50% 25.15% 22.95% 25.22% 22.35% 18.55%
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		 97.30% 97.75% 178.77% 117.95% 93.88% 102.51% 151.97% 180.62% 150.23% 154.12% 103.10%
Augmented Payout Ratio		 97.30% 97.75% 178.77% 117.95% 93.88% 102.51% 151.97% 202.90% 153.73% 163.36% 128.77%

Quarterly Metrics And Ratios for AMERISAFE

This table displays calculated financial ratios and metrics derived from AMERISAFE's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 18,924,399.00 18,794,881.00 18,703,771.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 18,924,399.00 18,794,881.00 18,703,771.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.55 0.43 0.78
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.45% 2.61% 0.23% 8.34% -7.60% -9.81% 6.93% 4.17% 10.21% 10.32% 13.42%
EBITDA Growth		 -8.82% -6.02% -30.90% 38.54% -30.24% -45.83% 24.70% -3.22% -25.78% -11.56% 3.28%
EBIT Growth		 -6.64% -3.67% -29.76% 44.34% -29.95% -45.91% 27.00% -1.75% -24.32% -9.46% 4.64%
NOPAT Growth		 -7.69% -2.39% -29.65% 43.80% -31.21% -47.13% 26.94% -3.53% -21.00% -8.98% 4.59%
Net Income Growth		 -7.69% -2.39% -29.65% 43.80% -31.21% -47.13% 26.94% -3.53% -21.00% -8.98% 4.59%
EPS Growth		 -7.41% -2.22% -29.63% 44.23% -31.00% -46.59% 28.07% -4.00% -20.29% -8.51% 6.85%
Operating Cash Flow Growth		 150.39% -44.26% -135.62% 64.63% 172.93% -123.87% -225.73% 26.43% -1.88% -50.56% 121.24%
Free Cash Flow Firm Growth		 -56.99% -38.96% -15.79% -23.91% 9.38% 1.12% -2.36% 49.06% -66.53% -54.58% -38.89%
Invested Capital Growth		 -7.87% -9.54% -11.62% -6.40% -12.01% -13.38% -11.77% -12.60% -2.23% -5.45% -5.87%
Revenue Q/Q Growth		 10.29% 0.47% -5.79% 3.78% -5.93% -1.93% 11.70% 1.10% -0.47% -1.84% 14.83%
EBITDA Q/Q Growth		 88.88% -13.45% -33.76% 27.95% -4.90% -32.79% 52.49% -0.71% -27.07% -19.91% 78.07%
EBIT Q/Q Growth		 94.26% -13.37% -33.75% 29.46% -5.73% -33.10% 55.56% 0.15% -27.38% -19.96% 79.77%
NOPAT Q/Q Growth		 92.56% -11.76% -35.05% 30.30% -7.89% -32.17% 55.94% -0.98% -24.57% -21.86% 79.19%
Net Income Q/Q Growth		 92.56% -11.76% -35.05% 30.30% -7.89% -32.17% 55.94% -0.98% -24.57% -21.86% 79.19%
EPS Q/Q Growth		 92.31% -12.00% -35.23% 31.58% -8.00% -31.88% 55.32% -1.37% -23.61% -21.82% 81.40%
Operating Cash Flow Q/Q Growth		 -22.70% 89.21% -134.53% 425.96% 28.15% -116.55% -371.15% 226.52% -0.55% -125.40% 166.46%
Free Cash Flow Firm Q/Q Growth		 -6.23% 10.24% 3.87% -29.13% 34.79% 1.92% 0.30% 8.18% -69.74% 38.32% 34.94%
Invested Capital Q/Q Growth		 -12.93% 2.96% -0.03% 4.45% -18.14% 1.35% 1.82% 3.47% -8.43% -1.99% 1.38%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 31.14% 26.83% 18.86% 23.25% 23.51% 16.11% 21.99% 21.60% 15.83% 12.92% 20.03%
EBIT Margin		 29.89% 25.77% 18.12% 22.61% 22.66% 15.46% 21.53% 21.32% 15.56% 12.69% 19.86%
Profit (Net Income) Margin		 23.94% 21.03% 14.50% 18.20% 17.82% 12.33% 17.21% 16.86% 12.77% 10.17% 15.87%
Tax Burden Percent		 80.10% 81.59% 79.98% 80.50% 78.66% 79.75% 79.95% 79.05% 82.11% 80.17% 79.91%
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		 19.90% 18.41% 20.02% 19.50% 21.34% 20.25% 20.05% 20.95% 17.89% 19.83% 20.09%
Return on Invested Capital (ROIC)		 24.09% 20.49% 13.97% 17.64% 20.04% 13.21% 18.61% 17.72% 15.93% 13.02% 20.66%
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)		 28.56% 29.48% 30.13% 25.51% 32.94% 31.23% 30.30% 30.39% 20.78% 23.87% 24.27%
Operating Return on Assets (OROA)		 7.34% 6.29% 4.42% 5.59% 5.87% 3.88% 5.52% 5.46% 4.31% 3.61% 5.84%
Return on Assets (ROA)		 5.88% 5.13% 3.54% 4.50% 4.62% 3.09% 4.42% 4.31% 3.54% 2.90% 4.67%
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% 20.49% 18.96% 19.54% 0.00% 18.20% 18.99% 18.17% 0.00% 18.79% 18.79%
Net Operating Profit after Tax (NOPAT)		 19 17 11 14 13 8.95 14 14 10 8.15 15
NOPAT Margin		 23.94% 21.03% 14.50% 18.20% 17.82% 12.33% 17.21% 16.86% 12.77% 10.17% 15.87%
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		 16.92% 16.63% 17.35% 17.01% 20.70% 19.75% 16.89% 17.72% 19.36% 18.33% 16.82%
Operating Expenses to Revenue		 70.11% 74.23% 81.88% 77.39% 77.34% 84.54% 78.47% 78.68% 84.44% 87.31% 80.14%
Earnings before Interest and Taxes (EBIT)		 24 21 14 18 17 11 17 17 13 10 18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 25 22 14 18 17 12 18 18 13 10 18
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.83 3.17 2.79 2.93 3.82 3.84 3.14 3.03 2.85 2.54 2.53
Price to Tangible Book Value (P/TBV)		 2.83 3.17 2.79 2.93 3.82 3.84 3.14 3.03 2.85 2.54 2.53
Price to Revenue (P/Rev)		 2.69 3.09 2.72 2.92 3.18 3.32 2.72 2.69 2.26 1.93 1.89
Price to Earnings (P/E)		 13.31 15.46 14.72 15.00 17.71 21.09 16.52 16.68 15.23 13.52 13.47
Dividend Yield		 3.16% 2.79% 3.24% 3.00% 8.69% 8.56% 10.34% 10.36% 6.75% 7.74% 4.73%
Earnings Yield		 7.51% 6.47% 6.79% 6.67% 5.65% 4.74% 6.05% 6.00% 6.57% 7.40% 7.42%
Enterprise Value to Invested Capital (EV/IC)		 2.69 3.06 2.69 2.73 3.64 3.67 2.95 2.83 2.61 2.40 2.27
Enterprise Value to Revenue (EV/Rev)		 2.57 2.98 2.62 2.72 3.03 3.18 2.56 2.51 2.07 1.82 1.69
Enterprise Value to EBITDA (EV/EBITDA)		 9.63 11.44 10.93 10.84 13.10 15.50 12.03 12.03 10.90 10.07 9.55
Enterprise Value to EBIT (EV/EBIT)		 10.18 12.02 11.44 11.25 13.58 16.06 12.41 12.36 11.15 10.25 9.68
Enterprise Value to NOPAT (EV/NOPAT)		 12.69 14.92 14.18 13.97 16.92 20.15 15.56 15.58 13.91 12.78 12.07
Enterprise Value to Operating Cash Flow (EV/OCF)		 26.41 38.55 57.75 49.50 38.77 64.22 86.78 68.99 59.25 58.27 27.81
Enterprise Value to Free Cash Flow (EV/FCFF)		 9.05 9.85 8.37 10.34 10.36 10.90 9.14 8.69 12.40 9.78 9.07
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		 4.10 3.99 3.95 3.92 4.34 4.27 4.22 4.11 4.50 4.49 4.43
Compound Leverage Factor		 4.10 3.99 3.95 3.92 4.34 4.27 4.22 4.11 4.50 4.49 4.43
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)		 44 49 51 36 48 49 49 53 16 22 30
Operating Cash Flow to CapEx		 15,257.69% 1,006.17% -4,628.57% 35,204.17% 77,335.71% -89,600.00% -780.31% 1,198.88% 6,140.46% -10,376.92% 59,766.67%
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		 0.25 0.24 0.24 0.25 0.26 0.25 0.26 0.26 0.28 0.28 0.29
Fixed Asset Turnover		 45.21 45.18 47.75 49.20 50.51 48.41 47.33 46.22 48.14 50.67 49.67
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 292 301 301 314 257 261 266 275 252 247 250
Invested Capital Turnover		 1.01 0.97 0.96 0.97 1.12 1.07 1.08 1.05 1.25 1.28 1.30
Increase / (Decrease) in Invested Capital		 -25 -32 -40 -22 -35 -40 -35 -40 -5.74 -14 -16
Enterprise Value (EV)		 788 921 809 858 938 956 785 778 656 592 567
Market Capitalization		 827 954 840 922 982 1,001 833 833 718 626 633
Book Value per Share		 $15.25 $15.75 $15.73 $16.49 $13.51 $13.69 $13.94 $14.47 $13.29 $13.12 $13.37
Tangible Book Value per Share		 $15.25 $15.75 $15.73 $16.49 $13.51 $13.69 $13.94 $14.47 $13.29 $13.12 $13.37
Total Capital		 292 301 301 314 257 261 266 275 252 247 250
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		 -39 -33 -31 -64 -44 -45 -48 -55 -62 -34 -65
Capital Expenditures (CapEx)		 0.03 0.75 0.06 0.02 0.01 0.00 1.08 0.89 0.17 0.03 0.00
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)		 1.00 0.85 0.56 0.51 0.63 0.48 0.38 0.23 0.22 0.18 0.16
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.99 $0.89 $0.58 $0.75 $0.69 $0.47 $0.73 $0.73 $0.55 $0.43 $0.79
Adjusted Weighted Average Basic Shares Outstanding		 19.15M 19.12M 19.08M 19.04M 19.07M 19.04M 19.04M 18.98M 18.98M 18.76M 18.58M
Adjusted Diluted Earnings per Share		 $1.00 $0.88 $0.57 $0.75 $0.69 $0.47 $0.73 $0.72 $0.55 $0.43 $0.78
Adjusted Weighted Average Diluted Shares Outstanding		 19.23M 19.21M 19.15M 19.11M 19.16M 19.15M 19.12M 19.07M 19.08M 18.86M 18.70M
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		 19.14M 19.14M 19.07M 19.05M 19.05M 19.05M 18.99M 18.92M 18.79M 18.70M 18.54M
Normalized Net Operating Profit after Tax (NOPAT)		 19 17 11 14 13 8.95 14 14 10 8.15 15
Normalized NOPAT Margin		 23.94% 21.03% 14.50% 18.20% 17.82% 12.33% 17.21% 16.86% 12.77% 10.17% 15.87%
Pre Tax Income Margin		 29.89% 25.77% 18.12% 22.61% 22.66% 15.46% 21.53% 21.32% 15.56% 12.69% 19.86%
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		 150.23% 152.17% 165.38% 154.48% 154.12% 180.75% 170.90% 173.45% 103.10% 105.63% 104.49%
Augmented Payout Ratio		 153.73% 152.17% 176.39% 166.35% 163.36% 180.75% 178.44% 181.76% 128.77% 140.44% 144.85%

Financials Breakdown Chart

Key Financial Trends

AMERISAFE’s second-quarter 2026 results show improving earnings and premium growth, but cash generation remains uneven and the company continues to rely heavily on investment portfolio activity. Premiums earned increased to $77.3 million in Q2 2026 from $69.4 million in Q2 2025 and $68.6 million in Q2 2024. Total revenue rose to $91.97 million, helped by $14.55 million in net realized and unrealized investment gains.

Net income attributable to common shareholders reached $14.6 million, or $0.78 per diluted share, in Q2 2026, compared with $14.0 million, or $0.73 per diluted share, in Q2 2025. Earnings also improved significantly from the $8.1 million reported in Q1 2026. However, quarterly results remain sensitive to investment gains and changes in claims expenses.

  • Premium growth is continuing: Q2 2026 premiums earned rose approximately 11% year over year and have generally trended higher from roughly $65.6 million in Q2 2023 to $77.3 million currently.
  • Second-quarter profitability improved: Net income increased to $14.6 million from $14.0 million year over year, while diluted EPS rose to $0.78 from $0.73.
  • Investment income remains a meaningful earnings contributor: Q2 2026 included $14.6 million of net realized and unrealized investment gains, compared with $11.6 million in Q2 2025.
  • Shareholder returns remain substantial: AMERISAFE paid $7.6 million in dividends and repurchased $5.6 million of common stock during Q2 2026. The quarterly dividend per share increased to $0.41 from $0.39 in late 2025 and $0.37 in 2024.
  • Liquidity improved sequentially: Cash and due from banks increased to $65.5 million at June 30, 2026, from $34.2 million at March 31, 2026. The company also generated $42.7 million from investing activities, primarily through investment maturities and sales.
  • Operating cash flow recovered but remains volatile: Cash from operating activities was $1.8 million in Q2 2026 after a $2.7 million outflow in Q1. Comparable second-quarter operating cash flow was negative $8.4 million in 2025 and negative $2.6 million in 2024, but positive $7.3 million in 2023.
  • The investment portfolio has become more prominent: Trading account securities totaled $705.2 million at Q2 2026, representing roughly 63% of total assets. This supports liquidity and investment income but increases exposure to market valuations and interest-rate movements.
  • Claims expenses are rising faster than premiums in the recent period: Q2 2026 property and liability claims expense increased to $49.1 million from $41.9 million in Q2 2025 and $41.7 million in Q2 2024, putting pressure on underwriting margins.
  • Balance-sheet equity has declined over the longer period: Total common equity was $250.0 million at June 30, 2026, down from $265.6 million in Q2 2025, $301.0 million in Q2 2024 and $340.6 million in Q2 2023.
  • Financial results remain dependent on investment gains: Investment gains have fluctuated considerably—from a $2.4 million loss in Q2 2022 to gains of $9.8 million in Q2 2023, $7.3 million in Q2 2024, $11.6 million in Q2 2025 and $14.6 million in Q2 2026. A weaker investment market could materially reduce reported earnings.

Overall, the statements indicate a profitable insurer with steady premium growth, consistent dividends and active capital returns. The main risks for investors are the volatility of operating cash flow, rising claims costs, declining equity over the past several years and the growing influence of investment-market performance on net income.

10/14/26 08:48 AM ETAI Generated. May Contain Errors.

AMERISAFE Financials - Frequently Asked Questions

According to the most recent income statement we have on file, AMERISAFE's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

AMERISAFE's net income appears to be on a downward trend, with a most recent value of $47.15 million in 2025, falling from $70.46 million in 2015. The previous period was $55.44 million in 2024. See where experts think AMERISAFE is headed by visiting AMERISAFE's forecast page.

Over the last 10 years, AMERISAFE's total revenue changed from $400.95 million in 2015 to $317.25 million in 2025, a change of -20.9%.

In the past 13 quarters, AMERISAFE's cash and equivalents has ranged from $30.61 million in Q2 2024 to $65.48 million in Q2 2026, and is currently $65.48 million as of their latest financial filing in Q2 2026.

AMERISAFE had total debt of $0.00 at the end of 2025, compared with none in 2024, and none in 2015.

Over the last 10 years, AMERISAFE's book value per share changed from 23.78 in 2015 to 13.29 in 2025, a change of -44.1%.


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Financial statements for NASDAQ:AMSF last updated on 7/23/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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