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AMERISAFE, Inc.

AMSF Financial Insurance Specialty

AMERISAFE, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $317.3 million, up 2.66% from fiscal 2024. In the quarter to June 2026, revenue grew 13.4%, EPS grew 8.22% and free cash flow grew 118.8%, each against the same quarter a year earlier. Revenue growth for three consecutive years.

25.18 0.14 +0.56%
Market cap
$464.1M
P/E
10.1×
Fwd P/E
16.0×
Dividend yield
4.88%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.10
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 — — — — — — — — — — —
Insider Ownership 2.31%

Capital & Financial Ratios $m

Market Cap 464.14
Revenue 335.63
Net Income 46.98
Free Cash Flow 19.31
Net Debt (65.48)
Current Ratio 0.43
Debt/Equity 0.00
P/E ratio 10.07
Fwd P/E 16.00
P/S ratio 1.39
P/B ratio 1.87
Past 5Y EPS Growth (11.19%) (below 0%: weak)
This Y EPS Growth (10.50%) (below 0%: weak)
Next Y EPS Growth 2.68%
Next Y revenue growth 7.71%
Next 5Y EPS Growth (6.33%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 1.07%
10-year low 10-year high
P/S against its own 10 years 1.07%
10-year low 10-year high
P/B against its own 10 years 1.07%
10-year low 10-year high

Dividends

Payout Ratio 0.50
Annual Dividend Rate 1.23
Annual Dividend Yield 4.88%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.64
0.41
0.41
0.41
2025 2.56
0.39
0.39
0.39
1.00
2024 1.11
0.37
0.37
0.37
3.00
2023 1.02
0.34
0.34
0.34
3.50
2022 0.93
0.31
0.31
0.31
4.00
2021 1.16
0.29
0.29
0.29
4.00
0.29
2020 1.08
0.27
0.27
0.27
3.50
0.27
2019 1.00
0.25
0.25
0.25
3.50
0.25
2018 0.88
0.22
0.22
0.22
0.22
2017 0.80
0.20
0.20
0.20
0.20
2016 0.72
0.18
0.18
0.18
0.18
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 39 44 62 65
Receivables 263 260 269 289
Inventory — — — —
Other — — — —
302 304 331 354
2023 2024 2025 Q'26
Payables 866 846 822 815
ST’ Debt — — — —
Other — — — —
866 846 822 815

Compound Annual Growth %

10y 5y 3y
Sales (2.31%) (1.35%) 2.48%
Cash Flow (19.16%) (29.46%) (26.77%)
Earnings (3.94%) (11.45%) (5.35%)
Book Value (5.73%) (10.53%) (7.46%)

Revenue $m

Mar Jun Sep Dec Year
’26 80 92 — — —
’25 73 81 82 82 317
’24 80 76 79 74 309
’23 78 76 73 80 307
’22 76 68 71 80 295
’21 83 81 73 78 316
’20 79 89 83 88 339
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 2 — — —
’25 (2) (8) 11 11 11
’24 8 (3) 8 11 24
’23 13 7 5 4 30
’22 7 18 11 (8) 28
’21 17 9 3 9 38
’20 15 27 9 13 63
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 2 — — —
’25 (2) (10) 10 10 9
’24 7 (3) 8 11 23
’23 13 7 5 4 29
’22 7 17 10 (8) 26
’21 16 9 3 8 37
’20 15 27 9 12 62
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.43 0.78 — — —
’25 0.47 0.73 0.72 0.55 2.47
’24 0.88 0.57 0.75 0.69 2.89
’23 0.90 0.81 0.52 1.00 3.23
’22 0.89 0.32 0.59 1.08 2.88
’21 0.99 1.23 0.99 0.18 3.39
’20 0.56 1.24 1.21 1.47 4.47
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 46.88 51.20 50.45 53.43 48.02 50.56 44.06 45.34 41.97 36.34

Analyst estimates 2026–2028

Powerpack
High 66.30 69.40 67.96 71.99 80.65 67.10 60.49 57.06 60.24 53.27
People
People Employees 439 438 429 434 395 379 366 362 370 —
Revenue/emp, $m 0.90 0.86 0.88 0.85 0.86 0.83 0.81 0.85 0.84 0.00
Income, $m
Income, $m Revenue 397 375 378 370 339 316 295 307 309 317
Gross margin, % 35.78 30.05 31.16 39.64 40.73 34.51 32.88 35.08 33.38 29.82
EBT 113 82 88 116 107 79 68 77 69 59
EBT margin, % 28.44 21.92 23.18 31.19 31.50 25.15 22.95 25.22 22.35 18.55
Net income 78 46 72 93 87 66 56 62 55 47
Depreciation 17 15 12 10 9 10 8 4 3 1
Per share, $
Per share, $ Revenue 20.76 19.58 19.67 19.24 17.60 16.34 15.32 16.02 16.20 16.72
Earnings 4.08 2.41 3.73 4.82 4.49 3.40 2.89 3.24 2.91 2.48
Cash flow 5.98 6.83 5.12 4.10 3.29 1.96 1.47 1.56 1.27 0.58
Capex (0.09) (0.02) (0.06) (0.05) (0.05) (0.07) (0.11) (0.03) (0.04) (0.11)
Free cash flow 5.89 6.80 5.06 4.04 3.24 1.90 1.36 1.53 1.22 0.47
Book value 23.87 22.20 21.33 22.35 22.75 20.66 16.50 15.27 13.49 13.26
Shares, m 19 19 19 19 19 19 19 19 19 19
Valuation, ×
Valuation, × P/E 15.45 24.81 15.20 13.70 12.79 15.83 18.01 14.46 17.71 15.49
P/S 3.04 3.05 2.88 3.43 3.26 3.29 3.41 2.93 3.18 2.30
P/B 2.64 2.69 2.66 2.95 2.52 2.61 3.16 3.08 3.82 2.90
EV/Sales 2.89 2.91 2.78 3.31 3.08 3.07 3.20 2.81 3.04 2.10
EV/FCF 10.18 8.37 10.79 15.77 16.74 26.42 36.13 29.41 40.21 74.77
Cash, $m
Cash, $m Operating cash flow 114 131 98 79 63 38 28 30 24 11
Capex (2) 0 (1) (1) (1) (1) (2) (1) (1) (2)
Free cash flow 113 130 97 78 62 37 26 29 23 9
Balance, $m
Balance, $m Working capital (660) (695) (718) (701) (646) (611) (577) (565) (542) (491)
Total debt 0 0 0 0 0 0 0 — — —
Net debt (59) (56) (40) (44) (62) (71) (61) (39) (44) (62)
Shareholders’ equity 456 425 410 430 439 399 317 292 257 252
Returns, %
Returns, % ROA 5.16 3.04 4.72 6.16 5.84 4.58 4.16 4.97 4.64 4.12
ROIC 17.75 13.90 14.82 18.68 17.72 15.11 16.52 19.06 20.23 19.39
ROE 17.11 10.49 17.15 22.07 19.93 15.69 15.51 20.37 20.17 18.53
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

AMERISAFE, Inc. vs peers in Insurance Specialty (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AGO Assured Guaranty Ltd. $3.1B 9.5× 11.8× −30.60% (below 0%: shrinking) −57.89% (below 0%: shrinking) −48.72% (below 0%: shrinking) 97.95% 42.05% Compare
NMIH NMI Holdings Inc $3.0B 7.9× 7.1× +8.12% (above 0%: growing) +13.82% (above 0%: growing) +10.69% (above 0%: growing) 93.00% 76.67% Compare
EIG Employers Holdings Inc $906.1M 73.2× 18.2× −10.60% (below 0%: shrinking) +29.03% (above 0%: growing) −1,111.11% (below 0%: shrinking) 16.35% 16.35% Compare
TIPT Tiptree Financial Inc. $618.6M 1.5× — (loss-making) +64.86% (above 0%: growing) +1,976.00% (above 0%: growing) +179.79% (above 0%: growing) 100.00% 0.00% Compare
ITIC Investors Title Company $544.0M 13.5× 5.6× +17.45% (above 0%: growing) +19.05% (above 0%: growing) −18.47% (below 0%: shrinking) 55.58% 22.48% Compare
AMSF AMERISAFE, Inc. $464.1M 10.1× 16.0× +13.42% (above 0%: growing) +8.22% (above 0%: growing) +118.79% (above 0%: growing) 29.93% 19.86%
MBI MBIA, Inc. $224.0M — (loss-making) — (loss-making) +17.39% (above 0%: growing) n/m −500.00% (below 0%: shrinking) 66.67% 22.22% Compare
OSG Octave Specialty Group, Inc. $207.2M — (loss-making) — (loss-making) +51.02% (above 0%: growing) n/m −576.08% (below 0%: shrinking) 76.26% (0.47%) Compare
JRVR James River Group Holdings, Ltd. $171.6M 7.5× 5.5× −7.72% (below 0%: shrinking) +66.67% (above 0%: growing) −124.07% (below 0%: shrinking) 38.58% 9.26% Compare
Median of peers $581.3M 8.7× 7.1× +12.76% +24.04% −86.39% 71.47% 19.29%

All 17 Insurance Specialty stocks →

AMERISAFE, Inc. (AMSF) key facts

  • Concern: Net income was $47.1 million, or $2.48 per share (basic), a net margin of 14.9%.
  • Strength: AMERISAFE, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $317.3 million, up 2.66% from fiscal 2024.
  • AMERISAFE, Inc. (AMSF) is an Insurance Specialty company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, AMSF traded at $25.18, a market capitalization of $464.1 million.
  • At that price the stock trades at 10.1× trailing-twelve-month earnings and 1.4× sales; its P/E is higher than 1% of its own readings over the past ten years.
  • AMERISAFE, Inc. pays an annual dividend of $1.23 per share, a yield of 4.88%, with a payout ratio of 49.6%.
  • Return on equity was 18.5% and debt-to-equity 0.00.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

AMERISAFE, Inc. (AMSF) Latest News

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stockrow.com/AMSF · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com