AMERISAFE INC (AMSF)
US03071H1005 - Common Stock
Overall AMSF gets a fundamental rating of 4 out of 10. We evaluated AMSF against 141 industry peers in the Insurance industry. While AMSF has a great profitability rating, there are some minor concerns on its financial health. AMSF does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year AMSF was profitable.
AMSF had a positive operating cash flow in the past year.
Each year in the past 5 years AMSF has been profitable.
In the past 5 years AMSF always reported a positive cash flow from operatings.
1.2 Ratios
AMSF has a better Return On Assets (5.05%) than 84.17% of its industry peers.
With an excellent Return On Equity value of 21.23%, AMSF belongs to the best of the industry, outperforming 87.77% of the companies in the same industry.
AMSF has a Return On Invested Capital of 5.21%. This is amongst the best in the industry. AMSF outperforms 84.89% of its industry peers.
The Average Return On Invested Capital over the past 3 years for AMSF is in line with the industry average of 4.12%.
The last Return On Invested Capital (5.21%) for AMSF is above the 3 year average (4.73%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.05% | ||
| ROE | 21.23% | ||
| ROIC | 5.21% |
ROA(3y)4.71%
ROA(5y)5.24%
ROE(3y)18.41%
ROE(5y)19.3%
ROIC(3y)4.73%
ROIC(5y)5.25%
1.3 Margins
AMSF's Profit Margin of 20.31% is amongst the best of the industry. AMSF outperforms 88.49% of its industry peers.
AMSF's Profit Margin has been stable in the last couple of years.
Looking at the Operating Margin, with a value of 24.91%, AMSF belongs to the top of the industry, outperforming 87.05% of the companies in the same industry.
AMSF's Operating Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 24.91% | ||
| PM (TTM) | 20.31% | ||
| GM | N/A |
OM growth 3Y-6.65%
OM growth 5Y1.45%
PM growth 3Y-7.68%
PM growth 5Y1.41%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AMSF is destroying value.
Compared to 1 year ago, AMSF has less shares outstanding
AMSF has less shares outstanding than it did 5 years ago.
AMSF has a worse debt/assets ratio than last year.
2.2 Solvency
AMSF has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Altman-Z | N/A |
ROIC/WACC0.56
WACC9.34%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The earnings per share for AMSF have decreased by -5.21% in the last year.
The Earnings Per Share has been decreasing by -5.49% on average over the past years.
The Revenue has been growing slightly by 0.89% in the past year.
The Revenue has been decreasing by -4.15% on average over the past years.
EPS 1Y (TTM)-5.21%
EPS 3Y-11.93%
EPS 5Y-5.49%
EPS growth Q2Q-11.9%
Revenue 1Y (TTM)0.89%
Revenue growth 3Y-3.04%
Revenue growth 5Y-4.15%
Revenue growth Q2Q0.13%
3.2 Future
Based on estimates for the next years, AMSF will show a decrease in Earnings Per Share. The EPS will decrease by -6.61% on average per year.
The Revenue is expected to grow by 2.50% on average over the next years.
EPS Next Y-7.11%
EPS Next 2Y-6.61%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year1.5%
Revenue Next 2Y2.5%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 15.66, which indicates a correct valuation of AMSF.
Compared to the rest of the industry, the Price/Earnings ratio of AMSF is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 24.92. AMSF is valued slightly cheaper when compared to this.
A Price/Forward Earnings ratio of 16.86 indicates a correct valuation of AMSF.
Based on the Price/Forward Earnings ratio, AMSF is valued a bit more expensive than 63.31% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.49. AMSF is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.66 | ||
| Fwd PE | 16.86 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, AMSF is valued a bit cheaper than 60.43% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, AMSF is valued a bit more expensive than 67.63% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 29.77 | ||
| EV/EBITDA | 10.81 |
4.3 Compensation for Growth
AMSF has a very decent profitability rating, which may justify a higher PE ratio.
AMSF's earnings are expected to decrease with -6.61% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-6.61%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.91%, AMSF has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 4.35, AMSF pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.43, AMSF has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.91% |
5.2 History
The dividend of AMSF has a limited annual growth rate of 2.09%.
AMSF has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)2.09%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
150.30% of the earnings are spent on dividend by AMSF. This is not a sustainable payout ratio.
The Dividend Rate of AMSF has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP150.3%
EPS Next 2Y-6.61%
EPS Next 3YN/A
AMERISAFE INC
NASDAQ:AMSF (4/26/2024, 7:00:00 PM)
45.56
-0.26 (-0.57%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap872.02M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.91% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
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EPS beat(4)
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EPS beat(8)
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EPS beat(12)
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EPS beat(16)
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Revenue beat(2)
Avg Revenue beat(2)
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Revenue beat(4)
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Revenue beat(8)
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Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.66 | ||
| Fwd PE | 16.86 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.05% | ||
| ROE | 21.23% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 24.91% | ||
| PM (TTM) | 20.31% | ||
| GM | N/A | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.25
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-5.21%
EPS 3Y-11.93%
EPS 5Y
EPS growth Q2Q
EPS Next Y-7.11%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)0.89%
Revenue growth 3Y-3.04%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y