AMERISAFE, Inc. (AMSF) Stock Analysis
Financial Services · Insurance - Specialty · NasdaqGS
AMERISAFE, Inc. (AMSF) posted $317.25M in revenue for fiscal 2025 (up 2.7% year over year), at a 14.9% net margin, and has compounded revenue about -1.3%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on AMERISAFE, Inc.
AMERISAFE, Inc. has grown revenue from $396.66M to $317.25M over the last 10 fiscal years, compounding about -1.3% a year. The most recent year was up 2.7%, so growth is actually accelerating.
Net margin sits at 14.9%, down 3 points year over year.
At today's valuation the market is pricing in roughly 24.3% annual free-cash-flow growth — versus the -32.2% it actually delivered over the last five years, so the price already assumes a step-up from the recent record. The one thing worth a second look in the filings is reported earnings run ahead of cash.
Synthesised from AMERISAFE, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
AMERISAFE, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $396.66M | $375.21M | $377.75M | $370.37M | $339.48M | $315.93M | $294.74M | $306.85M | $309.04M | $317.25M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $77.86M | $46.23M | $71.63M | $92.69M | $86.60M | $65.76M | $55.60M | $62.11M | $55.44M | $47.15M |
| Net margin | 19.6% | 12.3% | 19.0% | 25.0% | 25.5% | 20.8% | 18.9% | 20.2% | 17.9% | 14.9% |
Source: AMERISAFE, Inc. SEC filings (10-K). 17 years of history available in the interactive view.
AMERISAFE, Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Reported earnings run ahead of cashOver 3 years net income totalled $164.7M but operating cash flow only $65.1M — earnings aren't fully backed by cash, an accruals flag worth investigating.
- Net margin shrinkingNet margin fell from 18.9% to 14.9% over ~3 years — profitability is compressing.
What growth is priced into AMSF stock?
At today's market cap of $598.52M, AMERISAFE, Inc. is priced for free-cash-flow growth of about 24.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $8.92M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -32.2%/yr over the last five fiscal years and revenue -1.3%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 17 years of AMERISAFE, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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AMERISAFE, Inc. financial history by metric
Compare AMERISAFE, Inc. with peers
About AMERISAFE, Inc.
AMERISAFE, Inc., an insurance holding company, underwrites workers' compensation insurance in the United States. The company provides benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. It sells its products through retail and wholesale brokers and agents; and small and mid-sized employers engaged in hazardous industries, including construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime. The company was incorporated in 1985 and is based in Deridder, Louisiana.
AMERISAFE, Inc. — frequently asked questions
What is AMERISAFE, Inc.'s revenue?
AMERISAFE, Inc. (AMSF) reported revenue of $317.25M for fiscal year 2025, up 2.7% from the prior year, according to its SEC filings.
Is AMERISAFE, Inc. profitable?
Yes. AMSF earned net income of $47.15M in fiscal 2025, a net margin of 14.9%.
What is AMSF's P/E ratio?
AMERISAFE, Inc. trades at a price-to-earnings ratio of about 13.2 based on the latest data in our nightly-refreshed cache.
How fast is AMERISAFE, Inc. growing?
AMSF's revenue grew at roughly -1.3% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does AMERISAFE, Inc. have?
As of fiscal year 2025, AMSF carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is AMERISAFE, Inc.'s market cap?
AMERISAFE, Inc. (AMSF) has a market capitalization of about $598.52M, based on the latest data in our nightly-refreshed cache.
When does AMERISAFE, Inc.'s fiscal year end?
AMSF's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into AMSF stock?
At today's market cap of $598.52M, AMERISAFE, Inc. is priced for free-cash-flow growth of about 24.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $8.92M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -32.2%/yr over the last five fiscal years and revenue -1.3%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from AMERISAFE, Inc.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.