AMERISAFE INC · Property and casualty insurance

AMSF

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The short version

A high-quality, profitable business with growing sales. Institutions are adding.

Going well

Sales up 13% in the latest quarter vs a year ago
Raised its dividend (5.9% yield)
Profitable every year for 10 years

Money moves

No insider buying or selling in the last 30 days
Institutions added 3.7% to their holdings in the quarter ending June 2026 (126 bought, 82 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$26.23-0.2% that day

Company value: $486M; Share price times all shares
Price vs profit (P/E): 10.6x; You pay about $11 for each $1 of yearly profit
Price vs sales: 1.4x; Company value is 1.4 times a year of sales
Dividend yield: 5.9%; Yearly dividend as a share of today's price
Cash vs value: 13%; Cash as a share of company value

From AMSF's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$92.0M+13% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $335.6M, up 9.5% from the 12 months before. Over 5 years, sales shrank about 1.3% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of AMSF. Starting points are the company's recent numbers.

Sales growth+10% a yearRecently: +9.5% a yearProfit margin14%Last 12 months: 14.0%P/E at the end11xToday: 10.6x. Many steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$541M

Profit in 5 years$76M

Price these guesses point to$44.91+71% vs $26.23 todayAbout +11% a year, before dividends

What today's price needs: with a 14% margin and a 11x P/E, sales could shrink about 1.2% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

5/5Strong

PassReturn on equity 15%+Earns a lot on the money owners have in the business.18.5%
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.14.8%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$8.9M
PassShare count not growingNot diluting owners. Falling means buybacks.-1.2% in 3 years

Revenue: $317.3M; +2.7% vs prior year
5-year growth: -1.3%/yr; revenue, per year
Free cash flow: $8.9M; 2.8% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. Not in this company's SEC data, so not scored: debt under half of equity. A checklist is a starting point for research, not a verdict.