Atlantic American Corporation(AAME)Earnings, Financials & Key Ratios

AAME•NASDAQ•Insurance & Managed Care

$2.51

$51M mkt cap·Price updated May 6, 2026

SectorFinancial Services IndustryLife Insurance Sub-IndustryGroup and voluntary benefits insurers

AboutAtlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. The company operates through American Southern and Bankers Fidelity segments. It offers property and casualty insurance products, including business automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; and inland marine and general liability insurance products. The company also provides surety bond coverage for subdivision construction, school bus contracts, as well as performance and payment bonds. In addition, the company provides individual and group whole life insurance, as well as medicare supplement insurance products; and other accident and health insurance coverages, include various individual and group policies for the payment of standard benefits for the treatment of diagnosed cancer and other critical illnesses, as well as various other policies, such as short-term nursing facility care, accident expense, hospital indemnity, and disability coverages. It markets its products through independent agents and brokers. The company was founded in 1937 and is headquartered in Atlanta, Georgia.Show more

Revenue$188M+0.8%
Combined Ratio102.8%+2.5%
Net Income-$4M-2395.9%
Return on Equity-4.13%-2426.6%
Medical Cost Ratio92.37%+2.3%
Operating Margin-2.8%-824.6%
Net Margin-2.27%-2376.9%
ROA-1.1%-2311.2%
Equity / Assets25.32%-10.0%
Book Value per Share4.88-7.1%
Tangible BV/Share4.76-9.5%
Debt/Equity0.38+10.6%

Technical→

AAME Key Insights

Atlantic American Corporation (AAME) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Trading at only 0.5x book value

✗Weaknesses

✗High loss ratio of 92.4%
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

AAME Price & Volume

Atlantic American Corporation (AAME) stock price & volume — 10-year historical chart

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AAME Growth Metrics

Atlantic American Corporation (AAME) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years1.24%

5 Years-1.03%

3 Years-1.93%

TTM11.99%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM173.93%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM165.35%

Return on Capital

10 Years1.39%

5 Years0.86%

3 Years-0.33%

Last Year-1.37%

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
SNFCASecurity National Financial CorporationDirect Competitor	249.7M	9.83	7.80	42061.1%		5.3%
TPVGTriplePoint Venture Growth BDC Corp.Direct Competitor	225.54M	5.57	4.57	36.55%		13.09%	1.33
KFRCKforce Inc.Direct Competitor	768.57M	42.05	21.45	-5.43%	2.6%	27.22%	0.56
GLGlobe Life Inc.Product Competitor	12.11B	154.39	10.98	3.82%	19.36%	20.64%	0.44
CNOCNO Financial Group, Inc.Product Competitor	4.28B	45.71	19.45	0.94%	4.94%	8.6%	1.54
FGF&G Annuities & Life, Inc.Product Competitor	4B	29.46	15.67	5.72%	4.8%	5.61%	0.45
NWBINorthwest Bancshares, Inc.Product Competitor	2.06B	14.08	15.30	16.3%		7.18%	0.24
PLMRPalomar Holdings, Inc.Product Competitor	2.94B	110.75	15.45	58.16%	22.56%	22.79%	0.01

Compare AAME vs Peers

Atlantic American Corporation (AAME) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SNFCA

Most directly comparable listed peer for AAME.

Scale Benchmark

vs MMC

Larger-name benchmark to compare AAME against a more recognizable public peer.

Peer Set

Compare Top 5

vs SNFCA, TPVG, KFRC, GL

AAME Income Statement

Atlantic American Corporation (AAME) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Revenue	166.08M	181.11M	185.55M	198.18M	195.35M	199.55M	187.85M	186.79M	188.23M	208.22M
Revenue Growth %	0.08%	9.05%	2.45%	6.8%	-1.43%	2.15%	-5.86%	-0.56%	0.77%	11.99%
Medical Costs & Claims	147.99M	160.96M	171.69M	184.7M	166.69M	179.19M	170.17M	168.62M	173.86M	168.86M
Medical Cost Ratio %	89.11%	88.87%	92.53%	93.2%	85.33%	89.8%	90.59%	90.27%	92.37%	81.1%
Gross Profit	18.08M▲ 0%	20.15M▲ 11.4%	13.86M▼ 31.2%	13.48M▼ 2.8%	28.66M▲ 112.7%	20.36M▼ 28.9%	17.68M▼ 13.2%	18.17M▲ 2.8%	14.37M▼ 20.9%	39.36M▲ 0%
Gross Margin %	10.89%	11.13%	7.47%	6.8%	14.67%	10.2%	9.41%	9.73%	7.63%	18.9%
Gross Profit Growth %	-15.25%	11.45%	-31.22%	-2.77%	112.67%	-28.95%	-13.17%	2.75%	-20.93%	-
Operating Expenses	14.56M	14.8M	14.83M	13.88M	13.16M	15.06M	15.59M	18.73M	19.63M	32.79M
OpEx / Revenue %	8.77%	8.17%	7.99%	7.01%	6.74%	7.55%	8.3%	10.03%	10.43%	15.75%
Depreciation & Amortization	1.21M	1.44M	987K	996K	980K	1M	890K	652K	366K	346K
Combined Ratio %	97.88%	97.04%	100.52%	100.21%	92.06%	97.34%	98.88%	100.3%	102.8%	96.85%
Operating Income	3.52M▲ 0%	5.36M▲ 52.0%	-971K▼ 118.1%	-407K▲ 58.1%	15.5M▲ 3909.1%	5.3M▼ 65.8%	2.1M▼ 60.5%	-565K▼ 127.0%	-5.26M▼ 831.7%	6.57M▲ 0%
Operating Margin %	2.12%	2.96%	-0.52%	-0.21%	7.94%	2.66%	1.12%	-0.3%	-2.8%	3.15%
Operating Income Growth %	-38.26%	51.99%	-118.13%	58.08%	3909.09%	-65.8%	-60.47%	-126.96%	-831.68%	-
EBITDA	4.73M	6.79M	16K	589K	16.48M	6.3M	2.99M	87K	-4.9M	6.91M
EBITDA Margin %	2.85%	3.75%	0.01%	0.3%	8.44%	3.16%	1.59%	0.05%	-2.6%	3.32%
Interest Expense	1.56M	1.72M	2.04M	2.13M	1.61M	1.39M	1.95M	3.27M	3.42M	3.15M
Non-Operating Income	-1.56M	-1.72M	-2.04M	-2.13M	-1.61M	-1.39M	-1.95M	-3.27M	-3.42M	-3.15M
Pretax Income	3.52M▲ 0%	5.36M▲ 52.0%	-971K▼ 118.1%	-407K▲ 58.1%	15.5M▲ 3909.1%	5.3M▼ 65.8%	2.1M▼ 60.5%	-565K▼ 127.0%	-5.26M▼ 831.7%	6.57M▲ 0%
Pretax Margin %	2.12%	2.96%	-0.52%	-0.21%	7.94%	2.66%	1.12%	-0.3%	-2.8%	3.15%
Income Tax	888K	828K	-267K	-21K	3.33M	1.02M	571K	-394K	-996K	1.46M
Effective Tax Rate %	25.2%	15.46%	27.5%	5.16%	21.51%	19.26%	27.24%	69.73%	18.92%	22.21%
Net Income	2.64M▲ 0%	4.53M▲ 71.8%	-704K▼ 115.5%	-386K▲ 45.2%	12.17M▲ 3252.6%	4.28M▼ 64.8%	1.52M▼ 64.4%	-171K▼ 111.2%	-4.27M▼ 2395.9%	5.11M▲ 0%
Net Margin %	1.59%	2.5%	-0.38%	-0.19%	6.23%	2.15%	0.81%	-0.09%	-2.27%	2.45%
Net Income Growth %	-39.93%	71.78%	-115.55%	45.17%	3252.59%	-64.82%	-64.38%	-111.21%	-2395.91%	173.93%
EPS (Diluted)	0.11▲ 0%	0.20▲ 81.8%	-0.03▼ 117.3%	-0.02▲ 45.0%	0.56▲ 3031.9%	0.19▼ 66.1%	0.06▼ 70.9%	-0.03▼ 150.5%	-0.23▼ 724.4%	0.23▲ 0%
EPS Growth %	-42.11%	81.82%	-117.35%	44.96%	3031.94%	-66.07%	-70.95%	-150.54%	-724.37%	165.35%
EPS (Basic)	0.11	0.20	-0.03	-0.02	0.58	0.19	0.06	-0.03	-0.23	-
Diluted Shares Outstanding	23.96M	22.64M	20.28M	20.26M	21.82M	20.4M	20.39M	20.4M	20.4M	21.77M

AAME Balance Sheet

Atlantic American Corporation (AAME) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Total Assets	318.6M	343.24M	344.27M	377.63M	405.19M	402.29M	367.06M	381.26M	393.43M	430.86M
Asset Growth %	1.27%	7.73%	0.3%	9.69%	7.3%	-0.72%	-8.76%	3.87%	3.19%	31.95%
Total Investment Assets	232.16M	239.7M	241.93M	489.1M	279.31M	542.33M	430.26M	237.07M	221.75M	4M
Long-Term Investments	232.16M	239.7M	232.38M	256.63M	274.06M	281.35M	221.53M	228.87M	221.75M	882.24M
Short-Term Investments	0	0	210.39M	232.47M	254.11M	260.99M	208.73M	37.34M	0	44.77M
Total Current Assets	13.25M	24.55M	12.63M	290.63M	0	328.11M	28.86M	0	35.57M	34.44M
Cash & Equivalents	257.43M	272.06M	12.63M	12.89M	19.32M	24.75M	28.86M	28.3M	35.57M	34.44M
Receivables	0	0	0	45.27M	56.6M	42.38M	41.3M	44.79M	50.4M	208.45M
Other Current Assets	0	0	0	26.03M	-330.02M	41.45M	-202M	-110.44M	-50.4M	-42.4M
Goodwill & Intangibles	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	10.18M
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	2.54M	2.54M	2.54M	2.54M	0	2.54M	2.54M	0	2.54M	2.54M
PP&E (Net)	-160K	-593K	-4.18M	258.86M	0	282.14M	3.4M	0	5.22M	0
Other Assets	-173.54M	-171.06M	-145.21M	-259.18M	-276.6M	-283.89M	-224.93M	-231.41M	-247.19M	-210.3M
Total Liabilities	213.09M	230.26M	242.9M	259.23M	260.13M	261M	264.87M	273.99M	293.81M	321.37M
Total Debt	33.74M	33.74M	33.74M	33.74M	33.74M	33.74M	35.75M	36.76M	37.76M	37.76M
Net Debt	-223.69M	-238.32M	21.11M	20.84M	14.42M	8.98M	6.88M	8.46M	2.19M	3.31M
Long-Term Debt	33.74M	33.74M	33.74M	33.74M	33.74M	33.74M	35.75M	33.74M	33.74M	37.76M
Short-Term Debt	0	0	0	0	0	1.03M	1.05M	3.02M	4.02M	4.02M
Total Current Liabilities	179.36M	196.52M	209.16M	49.31M	0	1.75M	2.01M	0	4.02M	150.44M
Accounts Payable	0	0	0	23.59M	0	25.46M	26.47M	0	0	0
Deferred Revenue	0	0	0	314K	0	0	-24.46M	0	0	36.87M
Other Current Liabilities	-16.68M	-22.34M	-20.12M	25.41M	0	-24.74M	-1.05M	-3.02M	0	109.55M
Deferred Taxes	-1000K	593K	875K	1000K	1000K	1000K	919K	0	0	0
Other Liabilities	9.71M	196.52M	0	0	-35.04M	-33.74M	229.12M	-33.74M	256.05M	256.32M
Total Equity	105.51M▲ 0%	112.98M▲ 7.1%	101.37M▼ 10.3%	118.39M▲ 16.8%	145.06M▲ 22.5%	141.29M▼ 2.6%	102.19M▼ 27.7%	107.28M▲ 5.0%	99.61M▼ 7.1%	109.49M▲ 0%
Equity Growth %	2.94%	7.09%	-10.28%	16.79%	22.52%	-2.6%	-27.67%	4.97%	-7.14%	1.44%
Shareholders Equity	105.51M	112.98M	101.37M	118.39M	145.06M	141.29M	102.19M	107.28M	99.61M	109.49M
Minority Interest	0	0	0	0	0	0	0	0	0	0
Retained Earnings	27.27M	30.99M	37.21M	36.02M	47.79M	51.26M	51.98M	50.93M	45.85M	49.84M
Common Stock	22.4M	22.4M	22.4M	22.4M	22.4M	22.4M	22.4M	22.4M	22.4M	22.4M
Accumulated OCI	5.83M	9.75M	-7.54M	10.46M	25M	17.69M	-22.15M	-16.12M	-18.71M	-12.82M
Return on Equity (ROE)	2.53%	4.14%	-0.66%	-0.35%	9.24%	2.99%	1.25%	-0.16%	-4.13%	4.89%
Return on Assets (ROA)	0.83%	1.37%	-0.2%	-0.11%	3.11%	1.06%	0.4%	-0.05%	-1.1%	1.24%
Equity / Assets	33.12%	32.92%	29.45%	31.35%	35.8%	35.12%	27.84%	28.14%	25.32%	25.41%
Debt / Equity	0.32x	0.30x	0.33x	0.28x	0.23x	0.24x	0.35x	0.34x	0.38x	0.38x
Book Value per Share	4.40	4.99	5.00	5.84	6.65	6.93	5.01	5.26	4.88	5.03
Tangible BV per Share	4.30	4.88	4.87	5.72	6.65	6.80	4.89	5.26	4.76	4.91

AAME Cash Flow Statement

Atlantic American Corporation (AAME) cash flow — operating, investing & free cash flow history

Line item	Dec'16	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	TTM
Cash from Operations	1.32M	2.63M	4.46M	-1.81M	8.97M	1.09M	6.45M	2.62M	4.8M	4.8M
Operating CF Growth %	-40.43%	100.15%	69.32%	-140.52%	596.46%	-87.87%	493.11%	-59.37%	83.07%	9552.63%
Operating CF / Revenue %	0.79%	1.45%	2.4%	-0.91%	4.59%	0.55%	3.44%	1.4%	2.55%	2.31%
Net Income	2.64M	4.53M	-704K	-386K	12.17M	4.28M	1.52M	-171K	-4.27M	5.11M
Depreciation & Amortization	1.21M	1.44M	987K	996K	980K	1M	890K	652K	366K	-349K
Stock-Based Compensation	586K	495K	244K	353K	437K	211K	134K	119K	11K	4K
Deferred Taxes	-2K	-1.36M	-2.24M	-913K	-2.25M	-1.11M	-1.82M	-3.12M	-1.75M	141K
Other Non-Cash Items	-3.69M	-12.85M	3.15M	-13.48M	-2.81M	-7.01M	2.79M	-738K	54K	59K
Working Capital Changes	576K	10.38M	3.02M	11.62M	443K	3.72M	2.94M	5.88M	10.38M	19.85M
Cash from Investing	-2.23M	10.13M	-14.79M	3.01M	-2.06M	5.3M	-3.43M	-3.37M	2.28M	-12.59M
Capital Expenditures	-396K	-103K	-281K	-69K	-233K	-107K	-126K	-80K	-225K	-564K
Acquisitions	1.84M	-10.23M	14.51M	0	1.83M	-5.41M	3.3M	0	0	0
Purchase of Investments	-75.07M	-84.55M	-49.55M	-124.03M	-27.49M	-35.29M	-17.01M	0	-13.85M	-15.96M
Sale/Maturity of Investments	73.23M	94.78M	35.05M	127.11M	25.66M	40.7M	13.71M	0	16.36M	22.53M
Other Investing	-1.84M	10.23M	-14.51M	0	-1.83M	5.41M	-3.3M	-3.29M	0	-18.59M
Cash from Financing	-1.45M	-1.47M	-1.59M	-939K	-481K	-954K	1.08M	181K	186K	-811K
Dividends Paid	-807K	-807K	-806K	-802K	-399K	-807K	-807K	-807K	-807K	-807K
Share Repurchases	-698K	-692K	-820K	-71K	-91K	-153K	-108K	-12K	-7K	-4K
Stock Issued	51K	32K	36K	0	9K	6K	0	0	0	0
Debt Issuance (Net)	0	0	0	0	0	0	1000K	1000K	1000K	-1000K
Other Financing	51K	32K	36K	-66K	0	0	0	0	0	993K
Net Change in Cash	-2.37M▲ 0%	11.29M▲ 576.6%	-11.92M▼ 205.5%	263K▲ 102.2%	6.43M▲ 2343.3%	5.43M▼ 15.4%	4.11M▼ 24.4%	-562K▼ 113.7%	7.27M▲ 1393.4%	11.41M▲ 0%
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	15.62M	13.25M	24.55M	12.63M	12.89M	19.32M	24.75M	28.86M	28.3M	46.42M
Cash at End	13.25M	24.55M	12.63M	12.89M	19.32M	24.75M	28.86M	28.3M	35.57M	34.44M
Free Cash Flow	920K▲ 0%	2.53M▲ 175.1%	4.18M▲ 65.1%	-1.88M▼ 144.9%	8.74M▲ 565.8%	981K▼ 88.8%	6.33M▲ 545.0%	2.54M▼ 59.8%	4.58M▲ 80.0%	24.25M▲ 0%
FCF Growth %	-51.25%	175.11%	65.11%	-144.89%	565.78%	-88.77%	544.95%	-59.82%	79.98%	1876.12%
FCF Margin %	0.55%	1.4%	2.25%	-0.95%	4.47%	0.49%	3.37%	1.36%	2.43%	11.65%
FCF per Share	0.04	0.11	0.21	-0.09	0.4	0.05	0.31	0.12	0.22	0.22

AAME Key Ratios

Atlantic American Corporation (AAME) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	TTM
Combined Ratio	97.88%	97.04%	100.52%	100.21%	92.06%	97.34%	98.88%	100.3%	102.8%	96.85%
Medical Cost Ratio	89.11%	88.87%	92.53%	93.2%	85.33%	89.8%	90.59%	90.27%	92.37%	81.1%
Return on Equity (ROE)	2.53%	4.14%	-0.66%	-0.35%	9.24%	2.99%	1.25%	-0.16%	-4.13%	4.89%
Return on Assets (ROA)	0.83%	1.37%	-0.2%	-0.11%	3.11%	1.06%	0.4%	-0.05%	-1.1%	1.24%
Equity / Assets	33.12%	32.92%	29.45%	31.35%	35.8%	35.12%	27.84%	28.14%	25.32%	25.41%
Book Value / Share	4.4	4.99	5	5.84	6.65	6.93	5.01	5.26	4.88	5.03
Debt / Equity	0.32x	0.30x	0.33x	0.28x	0.23x	0.24x	0.35x	0.34x	0.38x	0.38x
Revenue Growth	0.08%	9.05%	2.45%	6.8%	-1.43%	2.15%	-5.86%	-0.56%	0.77%	11.99%

AAME Frequently Asked Questions

Atlantic American Corporation (AAME) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Atlantic American Corporation (AAME) grew revenue by 0.8% over the past year. Growth has been modest.

Yes, Atlantic American Corporation (AAME) is profitable, generating $5.1M in net income for fiscal year 2024 (-2.3% net margin).

Dividend & Returns

Yes, Atlantic American Corporation (AAME) pays a dividend with a yield of 0.80%. This makes it attractive for income-focused investors.

Atlantic American Corporation (AAME) has a return on equity (ROE) of -4.1%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Atlantic American Corporation (AAME) has a combined ratio of 102.8%. A ratio above 100% means claims and expenses exceed premiums.

Explore More AAME

Atlantic American Corporation (AAME) financial analysis — history, returns, DCA and operating performance tools

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Historical returns with dividends reinvested

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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