NASDAQ · Financial Statements

AMERISAFE, Inc. (AMSF) Financial Statements

$26.31 NASDAQ: AMSF Market Cap $487.68M

AMERISAFE, Inc. most recently reported annual revenue of $317.0M, net profit of $47.0M. Revenue declined at an average annual rate of 1.4% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

AMERISAFE, Inc.: Revenue fell from $397.0M in 2016 to $317.0M in 2025, a change of -20.2% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 28.4% to 18.6%, a shift of -9.9 percentage points; the most recent year shows net profit of $47.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$397.0M$375.0M$378.0M$370.0M$340.0M$316.0M$295.0M$307.0M$309.0M$317.0M
Operating Expenses$284.0M$293.0M$290.0M$255.0M$233.0M$237.0M$227.0M$230.0M$240.0M$258.0M
Operating Profit$113.0M$82.0M$88.0M$116.0M$107.0M$79.0M$68.0M$77.0M$69.0M$59.0M
Operating Margin28.4%21.9%23.2%31.2%31.5%25.1%22.9%25.2%22.3%18.6%
Other Income$0$0$0$0$0$0$0$0$0$0
Interest$0$0$0$0$0$0$0$0$0$0
Depreciation$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M
Profit Before Tax$113.0M$82.0M$88.0M$116.0M$107.0M$79.0M$68.0M$77.0M$69.0M$59.0M
Tax$31.0M$43.8M$18.2M$19.8M$19.0M$17.2M$17.8M$19.7M$19.7M$19.9M
Net Profit$78.0M$46.0M$72.0M$93.0M$87.0M$66.0M$56.0M$62.0M$55.0M$47.0M
EPS$4.05$2.40$3.71$4.80$4.47$3.39$2.88$3.23$2.89$2.47
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$73.0M$80.0M$81.0M$76.0M$79.0M$74.0M$73.0M$81.0M$82.0M$82.0M$80.0M$92.0M
Operating Expenses$60.0M$56.0M$60.0M$62.0M$61.0M$57.0M$61.0M$64.0M$65.0M$69.0M$70.0M$102.0M
Operating Profit$12.0M$24.0M$21.0M$14.0M$18.0M$17.0M$11.0M$17.0M$17.0M$13.0M$10.0M$-10.0M
Operating Margin17.0%29.9%25.8%18.1%22.6%22.6%15.4%21.5%21.3%15.6%12.7%-11.1%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$12.0M$24.0M$21.0M$14.0M$18.0M$17.0M$11.0M$17.0M$17.0M$13.0M$10.0M$18.0M
Tax$19.2M$19.9M$18.4M$20.0M$19.5M$21.3M$20.3M$20.1M$20.9M$17.9M$19.8M$20.1M
Net Profit$10.0M$19.0M$17.0M$11.0M$14.0M$13.0M$9.0M$14.0M$14.0M$10.0M$8.0M$15.0M
EPS$0.52$1.00$0.88$0.57$0.75$0.69$0.47$0.73$0.72$0.55$0.43$0.78

Over the 10 years reported for AMERISAFE, Inc., cash stood at $62.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 0.61 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$1.4B$1.4B$1.4B$1.4B$1.4B$1.4B$1.3B$1.2B$1.2B$1.1B
Current Assets$242.0M$230.0M$203.0M$202.0M$219.0M$740.0M$654.0M$406.0M$400.0M$428.0M
Cash$59.0M$56.0M$40.0M$44.0M$62.0M$71.0M$61.0M$39.0M$44.0M$62.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$183.0M$174.0M$162.0M$158.0M$157.0M$270.0M$257.0M$273.0M$269.0M$279.0M
Fixed Assets$7.0M$6.0M$6.0M$7.0M$6.0M$7.0M$7.0M$6.0M$6.0M$7.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$1.1B$1.1B$1.1B$1.1B$1.1B$1.0B$889.0M$858.0M$789.0M$735.0M
Other Assets$0$0$1.1B$0$1.1B$0$0$0$0$0
Total Liabilities$1.1B$1.1B$1.1B$1.1B$1.0B$1.0B$952.0M$937.0M$900.0M$879.0M
Current Liabilities$0$0$0$0$0$801.0M$748.0M$688.0M$681.0M$701.0M
Borrowings$0$0$0$0$0$0$0$0$0$0
Other Liabilities$1.1B$1.1B$1.1B$1.1B$1.0B$1.0B$952.0M$937.0M$900.0M$879.0M
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$456.0M$425.0M$410.0M$430.0M$439.0M$399.0M$317.0M$292.0M$257.0M$252.0M

For AMERISAFE, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $9.0M; free cash flow was positive in 10 of 10 years; financing activities used $13.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$114.0M$131.0M$98.0M$79.0M$63.0M$38.0M$28.0M$30.0M$24.0M$11.0M
Investing Cash Flow$-52.0M$-52.0M$-30.0M$11.0M$42.0M$70.0M$73.0M$43.0M$72.0M$66.0M
Financing Cash Flow$2.0M$0$0$0$0$0$-12.0M$-3.0M$-6.0M$-13.0M
Net Cash Flow$-11.0M$-3.0M$-15.0M$3.0M$18.0M$9.0M$-9.0M$-23.0M$5.0M$18.0M
Free Cash Flow$113.0M$130.0M$97.0M$78.0M$62.0M$37.0M$26.0M$29.0M$23.0M$9.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-1.78
EV / EBITDA12.25
FCF Yield4.38%
Quick Ratio0.40
Interest Coverage—
Return 1Y-26.27%
Return 3Y-29.10%
Return 5Y-9.65%

AMERISAFE, Inc. (AMSF) financials — frequently asked questions

What is AMERISAFE, Inc.'s annual revenue?

AMERISAFE, Inc. (AMSF) reported annual revenue of $317.0M in its most recent fiscal year.

What is AMERISAFE, Inc.'s net profit?

AMERISAFE, Inc. (AMSF) reported net profit of $47.0M in its most recent fiscal year.

What is AMSF EV/EBITDA?

AMERISAFE, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 12.25.

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