Latest Ratios: P/E Ratio -7.5x · EV/EBITDA N/A · ROE -4.1%. (1995–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $35M | $31M | $50M | $48M | $50M | $45M | $40M | $49M | $77M | $98M | $115M |
| Enterprise Value | $37M | $34M | $58M | $55M | $59M | $59M | $61M | $70M | $-161344000 | $-125440092 | $-105026262 |
| P/E Ratio → | -7.48 | — | — | 42.39 | 12.89 | 3.68 | — | — | 17.00 | 37.27 | 26.26 |
| P/S Ratio | 0.19 | 0.17 | 0.27 | 0.25 | 0.25 | 0.23 | 0.20 | 0.26 | 0.43 | 0.59 | 0.69 |
| P/B Ratio | 0.35 | 0.32 | 0.47 | 0.47 | 0.35 | 0.31 | 0.34 | 0.48 | 0.68 | 0.93 | 1.12 |
| P/FCF | 7.67 | 6.87 | 19.67 | 7.54 | 50.95 | 5.14 | — | 11.70 | 30.41 | 106.79 | 61.07 |
| P/OCF | 7.31 | 6.54 | 19.07 | 7.39 | 45.94 | 5.01 | — | 10.96 | 29.22 | 74.66 | 52.17 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.18 | 0.31 | 0.29 | 0.30 | 0.30 | 0.31 | 0.38 | -0.89 | -0.76 | -0.63 |
| EV / EBITDA | — | — | 671.79 | 18.28 | 9.35 | 3.60 | 103.15 | 4374.53 | -23.75 | -26.53 | -15.39 |
| EV / EBIT | — | — | 21.61 | 13.49 | 8.82 | 3.47 | 35.26 | 65.66 | -22.79 | -24.66 | -14.72 |
| EV / FCF | — | 7.35 | 22.99 | 8.63 | 60.11 | 6.79 | — | 16.75 | -63.75 | -136.35 | -55.66 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 7.6% | 7.6% | 9.7% | 9.4% | 10.2% | 14.7% | 6.8% | 7.5% | 11.1% | 10.9% | 12.9% |
| Operating Margin | -2.8% | -2.8% | -0.3% | 1.1% | 2.7% | 7.9% | -0.2% | -0.5% | 3.0% | 2.1% | 3.4% |
| Net Profit Margin | -2.3% | -2.3% | -0.1% | 0.8% | 2.1% | 6.2% | -0.2% | -0.4% | 2.5% | 1.6% | 2.6% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -4.1% | -4.1% | -0.2% | 1.3% | 3.0% | 9.2% | -0.4% | -0.7% | 4.1% | 2.5% | 4.2% |
| ROA | -1.1% | -1.1% | -0.0% | 0.4% | 1.1% | 3.1% | -0.1% | -0.2% | 1.4% | 0.8% | 1.4% |
| ROIC | -3.6% | -3.6% | -0.4% | 1.2% | 2.6% | 7.8% | -0.2% | -0.6% | — | — | — |
| ROCE | -1.4% | -1.4% | -0.2% | 0.5% | 1.3% | 4.0% | -0.2% | -0.7% | 3.7% | 2.6% | 4.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.38 | 0.38 | 0.34 | 0.35 | 0.24 | 0.23 | 0.28 | 0.33 | 0.30 | 0.32 | 0.33 |
| Debt / EBITDA | — | — | 422.49 | 11.97 | 5.35 | 2.05 | 57.28 | 2108.63 | 4.97 | 7.13 | 4.94 |
| Net Debt / Equity | — | 0.02 | 0.08 | 0.07 | 0.06 | 0.10 | 0.18 | 0.21 | -2.11 | -2.12 | -2.15 |
| Net Debt / EBITDA | — | — | 97.20 | 2.31 | 1.43 | 0.87 | 35.39 | 1319.25 | -35.08 | -47.30 | -32.27 |
| Debt / FCF | — | 0.48 | 3.33 | 1.09 | 9.16 | 1.65 | — | 5.05 | -94.16 | -243.14 | -116.73 |
| Interest Coverage | -0.54 | -0.54 | 0.83 | 2.07 | 4.82 | 10.63 | 0.81 | 0.52 | 4.11 | 3.26 | 4.99 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.84 | 8.84 | — | 14.37 | 186.96 | — | 5.89 | 0.06 | 0.12 | 0.07 | 0.09 |
| Quick Ratio | 8.84 | 8.84 | — | 38.27 | 210.58 | — | 6.42 | 0.06 | 1.38 | 1.44 | 1.42 |
| Cash Ratio | 8.84 | 8.84 | — | 118.26 | 162.81 | — | 4.98 | 1.07 | 1.38 | 1.44 | 1.42 |
| Asset Turnover | — | 0.48 | 0.49 | 0.51 | 0.50 | 0.48 | 0.52 | 0.54 | 0.53 | 0.52 | 0.53 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.2% | 1.3% | 0.8% | 0.9% | 0.8% | 0.9% | 1.0% | 0.8% | 0.5% | 0.4% | 0.4% |
| Payout Ratio | — | — | — | 26.8% | 9.5% | — | — | — | 9.0% | 15.5% | 9.4% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 2.4% | 7.8% | 27.2% | — | — | 5.9% | 2.7% | 3.8% |
| FCF Yield | 13.0% | 14.6% | 5.1% | 13.3% | 2.0% | 19.4% | — | 8.5% | 3.3% | 0.9% | 1.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.2% | 0.3% | 0.2% | 0.2% | 1.7% | 0.9% | 0.7% | 0.9% |
| Total Shareholder Yield | 1.2% | 1.3% | 0.8% | 1.1% | 1.1% | 1.1% | 1.2% | 2.5% | 1.4% | 1.1% | 1.2% |
| Shares Outstanding | — | $20M | $20M | $20M | $20M | $22M | $20M | $20M | $23M | $24M | $23M |
Underwriting and reserve volatility
As reported in recent financial statements, AAME trades at a P/B ratio of 0.35, a valuation level that suggests investors are heavily discounting the company's book value due to persistent underwriting losses and the lack of a clear path toward consistent, sustainable return on equity.
The significant discount to book value appears to reflect market skepticism regarding the quality of the company's invested assets and the potential for future reserve strengthening. This valuation multiple implies that the market views the current equity base as potentially impaired by the volatility inherent in the company's specialized P&C and life insurance segments.
Based on the provided quarterly data, the combined ratio has fluctuated between 92.4% and 106.6% over the last ten quarters, indicating that AAME's core underwriting profitability remains highly sensitive to claim severity and the underlying mix of its P&C and life insurance products.
The frequent breach of the 100% combined ratio threshold suggests that the company is fundamentally dependent on investment income to offset core underwriting losses. This volatility warrants further investigation into whether the recent improvement in the combined ratio is a sustainable trend or merely a temporary result of favorable reserve development.
According to historical financial records, AAME maintains a conservative capital structure with a debt-to-equity ratio of approximately 0.38%, providing a necessary buffer against the underwriting losses that have periodically eroded the company's equity base over the last ten quarters of reported financial performance.
While the low leverage profile supports the company's solvency, it also highlights the limited capacity for aggressive growth initiatives without further capital infusion. Investors should monitor whether this conservative stance is a strategic choice to mitigate risk or a constraint imposed by the persistent pressure on the company's underwriting margins.
As noted in industry filings, the most commonly misapplied metric for AAME is the standard P/E ratio, which obscures the company's true operational health by failing to account for the significant volatility in underwriting results and the heavy influence of non-cash reserve adjustments on net income.
Because reported earnings are frequently distorted by reserve releases or strengthening, the P/E ratio provides a misleading picture of the company's profitability. Analysts should instead focus on the combined ratio and the underlying trend in underwriting margins to better assess the company's core performance and long-term viability.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying AAME stock.
Atlantic American Corporation's current P/E ratio is -7.5x. The historical average is 21.6x.
Atlantic American Corporation's return on equity (ROE) is -4.1%. The historical average is 2.8%.
Based on historical data, Atlantic American Corporation is trading at a P/E of -7.5x. Compare with industry peers and growth rates for a complete picture.
Atlantic American Corporation's current dividend yield is 1.16%.
Atlantic American Corporation has 7.6% gross margin and -2.8% operating margin.