Overview Dividends

(AMSF) AMERISAFE - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US03071H1005

Workers Compensation, Insurance, Hazardous Industries

Property & Casualty Insurance
Market Cap in USD: 732m

IPO / Inception: 2005-11-18
Return 12m vs S&P 500: -34.2%

EPS (Earnings per Share)

EPS CAGR: -49.51%
EPS Trend: -63.3%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 1.21%
Rev. Trend: 35.3%

Last SUE: 0.97
Qual. Beats: 2

Dividends

Dividend Yield	4.06%
Yield on Cost 5y	3.32%
Yield CAGR 5y	-25.85%
Payout Consistency	91.0%
Payout Ratio	61.2%

Risk via 5d forecast
Volatility	22.2%
Value at Risk 5%th	33.3%
Relative Tail Risk	-8.81%

Reward TTM
Sharpe Ratio	-1.23
Alpha	-29.89
CAGR/Max DD	-0.17

Character TTM
Hurst Exponent	0.245
Beta	0.233
Beta Downside	0.198

Drawdowns 3y
Max DD	36.15%
Mean DD	13.33%
Median DD	12.06%

Description: AMSF AMERISAFE November 30, 2025

AmeriSafe, Inc. (NASDAQ: AMSF) is a U.S.-based insurance holding company that underwrites workers’-compensation policies for small- and mid-size employers in high-risk sectors such as construction, trucking, logging, agriculture, manufacturing, telecommunications, and maritime. The firm pays benefits for temporary or permanent disability, death, and related medical expenses, distributing its products through both retail and wholesale brokers and agents.

Key operating metrics as of the most recent filing (Q3 2024) show a net written premium of approximately $420 million, a loss ratio near 68 % and a combined ratio of 94 %, indicating underwriting profitability despite inflation-driven medical cost pressures. Capital adequacy remains solid, with a risk-based capital (RBC) ratio of 215 % and a return on equity (ROE) of roughly 10 %. The business is sensitive to macro-drivers such as construction activity (which has risen 4 % YoY), labor-shortage-induced wage inflation, and regulatory trends affecting workers’-comp insurance rates.

For a deeper quantitative comparison of AMSF’s valuation and risk profile, you might explore ValueRay’s analyst tools.

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income (49.9m TTM) > 0 and > 6% of Revenue (6% = 18.6m TTM)

FCFTA 0.01 (>2.0%) and ΔFCFTA -0.52pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 71.17% (prev 170.4%; Δ -99.26pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.01 (>3.0%) and CFO 11.3m <= Net Income 49.9m (YES >=105%, WARN >=100%)

Net Debt (-54.7m) to EBITDA (63.8m) ratio: -0.86 <= 3.0 (WARN <= 3.5)

Current Ratio 102.1 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (19.1m) change vs 12m ago -0.21% (target <= -2.0% for YES)

Gross Margin 42.38% (prev 22.66%; Δ 19.72pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 25.60% (prev 25.12%; Δ 0.48pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

error: Interest Coverage Ratio cannot be calculated (needs EBITDA TTM and Interest Expense TTM)

Altman Z'' 1.98

(A) 0.19 = (Total Current Assets 222.6m - Total Current Liabilities 2.18m) / Total Assets 1.16b

(B) 0.08 = Retained Earnings (Balance) 98.5m / Total Assets 1.16b

(D) 0.11 = Book Value of Equity 95.0m / Total Liabilities 890.2m

Total Rating: 1.98 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 68.60

1. Piotroski 3.50pt

2. FCF Yield 1.58%

3. FCF Margin 3.00%

4. Debt/Equity 0.00

5. Debt/Ebitda -0.86

6. ROIC - WACC (= 11.93)%

7. RoE 18.86%

8. Rev. Trend 35.30%

9. EPS Trend -63.27%

What is the price of AMSF shares?

As of January 02, 2026, the stock is trading at USD 38.41 with a total of 98,251 shares traded.
Over the past week, the price has changed by -0.31%, over one month by -3.87%, over three months by -10.38% and over the past year by -22.37%.

Is AMSF a buy, sell or hold?

AMERISAFE has received a consensus analysts rating of 3.33. Therefor, it is recommend to hold AMSF.

Strong Buy: 0
Buy: 1
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the AMSF price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	49.3	28.4%
Analysts Target Price	49.3	28.4%
ValueRay Target Price	37.4	-2.6%

AMSF Fundamental Data Overview December 29, 2025

Market Cap USD = 731.7m (731.7m USD * 1.0 USD.USD)
P/E Trailing = 14.8192
P/E Forward = 22.3714
P/S = 2.3623
P/B = 2.6537
P/EG = 1.88
Beta = 0.393
Revenue TTM = 309.7m USD
EBIT TTM = 62.9m USD
EBITDA TTM = 63.8m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 428.0k USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -54.7m USD (from netDebt column, last quarter)
Enterprise Value = 587.9m USD (731.7m + Debt 428.0k - CCE 144.2m)
Interest Coverage Ratio = unknown (Ebit TTM 62.9m / Interest Expense TTM 0.0)
FCF Yield = 1.58% (FCF TTM 9.29m / Enterprise Value 587.9m)
FCF Margin = 3.00% (FCF TTM 9.29m / Revenue TTM 309.7m)
Net Margin = 16.12% (Net Income TTM 49.9m / Revenue TTM 309.7m)
Gross Margin = 42.38% ((Revenue TTM 309.7m - Cost of Revenue TTM 178.5m) / Revenue TTM)
Gross Margin QoQ = 41.60% (prev 42.18%)
Tobins Q-Ratio = 0.50 (Enterprise Value 587.9m / Total Assets 1.16b)
Interest Expense / Debt = 81.78% (Interest Expense 350.0k / Debt 428.0k)
Taxrate = 20.95% (3.66m / 17.5m)
NOPAT = 49.7m (EBIT 62.9m * (1 - 20.95%))
Current Ratio = 102.1 (out of range, set to none) (Total Current Assets 222.6m / Total Current Liabilities 2.18m)
Debt / Equity = 0.00 (Debt 428.0k / totalStockholderEquity, last quarter 274.8m)
Debt / EBITDA = -0.86 (Net Debt -54.7m / EBITDA 63.8m)
Debt / FCF = -5.90 (Net Debt -54.7m / FCF TTM 9.29m)
Total Stockholder Equity = 264.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.28% (Net Income 49.9m / Total Assets 1.16b)
RoE = 18.86% (Net Income TTM 49.9m / Total Stockholder Equity 264.6m)
RoCE = 5.41% (EBIT 62.9m / Capital Employed (Total Assets 1.16b - Current Liab 2.18m))
RoIC = 18.80% (NOPAT 49.7m / Invested Capital 264.6m)
WACC = 6.87% (E(731.7m)/V(732.1m) * Re(6.87%) + (debt cost/tax rate unavailable))
Discount Rate = 6.87% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -0.39%
[DCF Debug] Terminal Value 72.56% ; FCFE base≈12.2m ; Y1≈8.79m ; Y5≈4.87m
Fair Price DCF = 4.91 (DCF Value 92.9m / Shares Outstanding 18.9m; 5y FCF grow -32.69% → 3.0% )
EPS Correlation: -63.27 | EPS CAGR: -49.51% | SUE: -4.0 | # QB: 0
Revenue Correlation: 35.30 | Revenue CAGR: 1.21% | SUE: 0.97 | # QB: 2
EPS next Quarter (2026-03-31): EPS=0.53 | Chg30d=-0.010 | Revisions Net=+1 | Analysts=2
EPS next Year (2026-12-31): EPS=2.22 | Chg30d=+0.000 | Revisions Net=+1 | Growth EPS=-2.1% | Growth Revenue=+4.1%

Additional Sources for AMSF Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle