AMERISAFE, Inc. (AMSF) Financial Ratios
31 years of historical data (1995–2025) · Financial Services · Insurance - Specialty
EV/EBITDA
↓
8.85
↓-28% vs avg
5yr avg: 12.28
30Y Low0.8·High14.6
P/FCF
↑
65.98
↑+49% vs avg
5yr avg: 44.42
30Y Low0.2·High82.2
P/B Ratio
↑
2.38
↓-24% vs avg
5yr avg: 3.12
30Y Low0.1·High3.8
ROE
↑
18.5%
↓+3% vs avg
5yr avg: 18.1%
30Y Low7%·High150%
Debt/EBITDA
0.01
+0% vs avg
5yr avg: 0.01
30Y Low0.0·High3.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AMSF Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
AMERISAFE, Inc. trades at 12.7x earnings, 22% below its 5-year average of 16.4x, sitting at the 25th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 7%. On a free-cash-flow basis, the stock trades at 66.0x P/FCF, 49% above the 5-year average of 44.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $589M | $733M | $988M | $899M | $1.0B | $1.0B | $1.1B | $1.3B | $1.1B | $1.2B | $1.2B |
| Enterprise Value | $527M | $672M | $943M | $861M | $943M | $974M | $1.1B | $1.2B | $1.1B | $1.1B | $1.1B |
| P/E Ratio → | 12.68 | 15.55 | 17.83 | 14.48 | 18.05 | 15.88 | 12.85 | 13.76 | 15.28 | 25.67 | 15.40 |
| P/S Ratio | 1.86 | 2.31 | 3.19 | 2.93 | 3.41 | 3.31 | 3.28 | 3.45 | 2.90 | 3.16 | 3.02 |
| P/B Ratio | 2.38 | 2.91 | 3.84 | 3.08 | 3.16 | 2.62 | 2.53 | 2.97 | 2.67 | 2.79 | 2.62 |
| P/FCF | 65.98 | 82.15 | 42.29 | 30.71 | 38.47 | 28.48 | 17.80 | 16.40 | 11.26 | 9.10 | 10.64 |
| P/OCF | 53.18 | 66.21 | 40.82 | 30.14 | 35.62 | 27.51 | 17.54 | 16.19 | 11.13 | 9.06 | 10.48 |
P/E links to full P/E history page with 30-year chart
AMSF EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
AMERISAFE, Inc.'s enterprise value stands at 8.8x EBITDA, 28% below its 5-year average of 12.3x. The Financial Services sector median is 11.4x, placing the stock at a 22% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.12 | 3.05 | 2.80 | 3.20 | 3.08 | 3.09 | 3.33 | 2.79 | 3.01 | 2.87 |
| EV / EBITDA | 8.85 | 11.27 | 13.45 | 10.92 | 13.67 | 12.11 | 9.82 | 10.58 | 11.89 | 13.58 | 9.99 |
| EV / EBIT | 8.96 | 11.41 | 13.66 | — | 13.94 | 12.26 | 9.82 | 10.67 | 12.03 | 13.74 | 10.09 |
| EV / FCF | — | 75.26 | 40.41 | 29.39 | 36.11 | 26.55 | 16.81 | 15.84 | 10.84 | 8.67 | 10.11 |
AMSF Profitability
Margins and return-on-capital ratios measuring operating efficiency
AMERISAFE, Inc. earns an operating margin of 18.6%, roughly in line with the Financial Services sector average. Operating margins have compressed from 25.2% to 18.6% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 18.5% indicates solid capital efficiency, compared to the sector median of 9.0%. ROIC of 21.9% represents excellent returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.4% | 46.4% | 41.4% | 100.0% | 48.3% | 49.1% | 100.0% | 45.6% | 38.8% | 37.6% | 43.2% |
| Operating Margin | 18.6% | 18.6% | 22.3% | 25.2% | 23.0% | 25.1% | 31.5% | 31.2% | 23.2% | 21.9% | 28.4% |
| Net Profit Margin | 14.9% | 14.9% | 17.9% | 20.2% | 18.9% | 20.8% | 25.5% | 25.0% | 19.0% | 12.3% | 19.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.5% | 18.5% | 20.2% | 20.4% | 15.5% | 15.7% | 19.9% | 22.1% | 17.2% | 10.5% | 17.1% |
| ROA | 4.5% | 4.5% | 5.1% | 5.5% | 4.5% | 4.9% | 6.2% | 6.5% | 5.0% | 3.2% | 5.4% |
| ROIC | 21.9% | 21.9% | 22.2% | 22.8% | 17.4% | 16.9% | 21.0% | 22.9% | 17.8% | 16.1% | 21.6% |
| ROCE | 16.8% | 16.8% | 17.5% | 18.7% | 15.0% | 14.7% | 7.6% | 8.1% | 6.1% | 5.7% | 7.9% |
AMSF Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
AMERISAFE, Inc. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (100% below the sector average of 4.3x). The company holds a net cash position — cash of $62M exceeds total debt of $491000, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | 0.01 | 0.01 | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.24 | -0.17 | -0.13 | -0.19 | -0.18 | -0.14 | -0.10 | -0.10 | -0.13 | -0.13 |
| Net Debt / EBITDA | -1.03 | -1.03 | -0.63 | -0.49 | -0.89 | -0.88 | -0.58 | -0.38 | -0.46 | -0.67 | -0.52 |
| Debt / FCF | — | -6.89 | -1.89 | -1.32 | -2.35 | -1.93 | -0.99 | -0.56 | -0.42 | -0.43 | -0.52 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($62M) exceeds total debt ($491000)
AMSF Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.32x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.25x to 0.32x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.32 | 0.32 | 0.27 | 0.25 | 0.24 | 0.26 | — | — | — | — | — |
| Quick Ratio | 0.32 | 0.32 | 0.27 | 0.25 | 0.24 | 0.26 | — | — | — | — | — |
| Cash Ratio | 0.09 | 0.09 | 0.06 | 0.06 | 0.08 | 0.09 | — | — | — | — | — |
| Asset Turnover | — | 0.31 | 0.29 | 0.28 | 0.26 | 0.24 | 0.25 | 0.26 | 0.27 | 0.26 | 0.27 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
AMSF Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
AMERISAFE, Inc. returns 10.2% to shareholders annually — split between a 8.1% dividend yield and 2.1% buyback yield. The payout ratio exceeds 100% at 103.1%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 7.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 8.1% | 6.6% | 8.7% | 10.4% | 10.0% | 9.6% | 8.0% | 6.8% | 7.7% | 7.0% | 6.4% |
| Payout Ratio | 103.1% | 103.1% | 154.1% | 150.2% | 180.6% | 152.0% | 102.5% | 93.9% | 118.0% | 178.8% | 97.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.9% | 6.4% | 5.6% | 6.9% | 5.5% | 6.3% | 7.8% | 7.3% | 6.5% | 3.9% | 6.5% |
| FCF Yield | 1.5% | 1.2% | 2.4% | 3.3% | 2.6% | 3.5% | 5.6% | 6.1% | 8.9% | 11.0% | 9.4% |
| Buyback Yield | 2.1% | 1.7% | 0.6% | 0.2% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 10.2% | 8.3% | 9.2% | 10.6% | 11.2% | 9.6% | 8.0% | 6.8% | 7.7% | 7.0% | 6.4% |
| Shares Outstanding | — | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M |
Peer Comparison
Compare AMSF with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AMSFYou | $589M | 12.7 | 8.8 | 66.0 | 46.4% | 18.6% | 18.5% | 21.9% | 0.0 |
 KNTK | $3B | 17.7 | 12.9 | 43.0 | 18.4% | 9.3% | 6.0% | 1.9% | 7.1 |
 EIG | $1B | 103.4 | 77.4 | 25.6 | 32.2% | 1.4% | 1.1% | 1.0% | 3.1 |
 ACGL | $32B | 7.8 | 6.6 | 5.3 | 37.2% | 25.0% | 19.5% | 15.4% | 0.5 |
 HIG | $35B | 9.6 | 7.7 | 6.1 | 46.1% | 16.8% | 21.7% | 16.3% | 0.8 |
 TRV | $67B | 11.2 | 8.8 | — | 44.3% | 16.0% | 20.7% | 15.3% | 1.1 |
 WRB | $25B | 15.1 | 11.1 | 7.3 | 19.8% | 15.9% | 19.6% | 18.2% | 1.2 |
 SIGI | $6B | 12.3 | 10.4 | 4.5 | 40.9% | 11.0% | 13.9% | 10.9% | 1.4 |
 CINF | $26B | 11.2 | 8.2 | 8.6 | 50.1% | 23.6% | 16.0% | 15.3% | 0.3 |
 MMC | $85B | 21.3 | 16.0 | 21.4 | 42.8% | 23.8% | 31.3% | 15.2% | 3.3 |
 AON | $68B | 18.7 | 15.7 | 21.2 | 47.7% | 25.3% | 46.3% | 13.5% | 3.1 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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AMSF — Frequently Asked Questions
Quick answers to the most common questions about buying AMSF stock.
What is AMERISAFE, Inc.'s P/E ratio?
AMERISAFE, Inc.'s current P/E ratio is 12.7x. The historical average is 14.4x. This places it at the 25th percentile of its historical range.
What is AMERISAFE, Inc.'s EV/EBITDA?
AMERISAFE, Inc.'s current EV/EBITDA is 8.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.4x.
What is AMERISAFE, Inc.'s ROE?
AMERISAFE, Inc.'s return on equity (ROE) is 18.5%. The historical average is 22.6%.
Is AMSF stock overvalued?
Based on historical data, AMERISAFE, Inc. is trading at a P/E of 12.7x. This is at the 25th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is AMERISAFE, Inc.'s dividend yield?
AMERISAFE, Inc.'s current dividend yield is 8.13% with a payout ratio of 103.1%.
What are AMERISAFE, Inc.'s profit margins?
AMERISAFE, Inc. has 46.4% gross margin and 18.6% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does AMERISAFE, Inc. have?
AMERISAFE, Inc.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.