AMERISAFE INC (AMSF) Stock Fundamental Analysis
NASDAQ:AMSF - US03071H1005 - Common Stock
46.18 USD
+0.24 (+0.52%)
46.18 USD
0 (0%)
Taking everything into account, AMSF scores 4 out of 10 in our fundamental rating. AMSF was compared to 146 industry peers in the Insurance industry. Both the profitability and the financial health of AMSF get a neutral evaluation. Nothing too spectacular is happening here. AMSF does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
AMSF had positive earnings in the past year.
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 (4.37%) than 81.51% of its industry peers.
With an excellent Return On Equity value of 18.99%, AMSF belongs to the best of the industry, outperforming 88.36% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 4.30%, AMSF is in the better half of the industry, outperforming 76.03% of the companies in the same industry.
AMSF had an Average Return On Invested Capital over the past 3 years of 4.78%. This is in line with the industry average of 4.46%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.37% | ||
| ROE | 18.99% | ||
| ROIC | 4.3% |
ROA(3y)4.74%
ROA(5y)4.96%
ROE(3y)20.1%
ROE(5y)19.3%
ROIC(3y)4.78%
ROIC(5y)4.81%
1.3 Margins
AMSF has a better Profit Margin (16.64%) than 86.99% of its industry peers.
In the last couple of years the Profit Margin of AMSF has declined.
AMSF has a Operating Margin of 19.73%. This is in the better half of the industry: AMSF outperforms 76.03% of its industry peers.
In the last couple of years the Operating Margin of AMSF has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.73% | ||
| PM (TTM) | 16.64% | ||
| GM | N/A |
OM growth 3Y-3.47%
OM growth 5Y-8.09%
PM growth 3Y-5.13%
PM growth 5Y-6.1%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
AMSF has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for AMSF has been reduced compared to 1 year ago.
Compared to 5 years ago, AMSF has less shares outstanding
The debt/assets ratio for AMSF has been reduced compared to a year ago.
2.2 Solvency
There is no outstanding debt for AMSF. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Altman-Z | N/A |
ROIC/WACC0.48
WACC8.87%
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 -9.16% in the last year.
AMSF shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -11.34% yearly.
Looking at the last year, AMSF shows a decrease in Revenue. The Revenue has decreased by -1.18% in the last year.
AMSF shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.91% yearly.
EPS 1Y (TTM)-9.16%
EPS 3Y-3.68%
EPS 5Y-11.34%
EPS Q2Q%-8.62%
Revenue 1Y (TTM)-1.18%
Revenue growth 3Y-0.45%
Revenue growth 5Y-3.91%
Sales Q2Q%6.93%
3.2 Future
The Earnings Per Share is expected to decrease by -5.27% on average over the next years.
Based on estimates for the next years, AMSF will show a small growth in Revenue. The Revenue will grow by 2.58% on average per year.
EPS Next Y-6.86%
EPS Next 2Y-4.22%
EPS Next 3Y-5.27%
EPS Next 5YN/A
Revenue Next Year-0.09%
Revenue Next 2Y2.58%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 19.40, which indicates a rather expensive current valuation of AMSF.
67.12% of the companies in the same industry are cheaper than AMSF, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 27.13. AMSF is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 19.97, AMSF is valued on the expensive side.
Based on the Price/Forward Earnings ratio, AMSF is valued a bit more expensive than the industry average as 69.86% of the companies are valued more cheaply.
AMSF is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.76, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.4 | ||
| Fwd PE | 19.97 |
4.2 Price Multiples
AMSF's Enterprise Value to EBITDA ratio is in line with the industry average.
AMSF's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. AMSF is more expensive than 73.29% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 110.74 | ||
| EV/EBITDA | 13.64 |
4.3 Compensation for Growth
The decent profitability rating of AMSF may justify a higher PE ratio.
A cheap valuation may be justified as AMSF's earnings are expected to decrease with -5.27% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-4.22%
EPS Next 3Y-5.27%
5. Dividend
5.1 Amount
AMSF has a Yearly Dividend Yield of 3.40%.
AMSF's Dividend Yield is a higher than the industry average which is at 3.24.
Compared to an average S&P500 Dividend Yield of 2.32, AMSF pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.4% |
5.2 History
The dividend of AMSF decreases each year by -0.15%.
AMSF has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-0.15%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
170.90% of the earnings are spent on dividend by AMSF. This is not a sustainable payout ratio.
AMSF's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP170.9%
EPS Next 2Y-4.22%
EPS Next 3Y-5.27%
46.18
+0.24 (+0.52%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)
Earnings (Next)
Inst Owners101.96%
Inst Owner Change-1.33%
Ins Owners1.33%
Ins Owner Change6.19%
Market Cap876.96M
Analysts76
Price Target56.1 (21.48%)
Short Float %1.5%
Short Ratio2.27
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.4% |
Yearly Dividend4.47
Dividend Growth(5Y)-0.15%
DP170.9%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-3.59%
Min EPS beat(2)-3.64%
Max EPS beat(2)-3.53%
EPS beat(4)1
Avg EPS beat(4)-1.23%
Min EPS beat(4)-3.64%
Max EPS beat(4)4.89%
EPS beat(8)2
Avg EPS beat(8)-3.53%
EPS beat(12)4
Avg EPS beat(12)-1.11%
EPS beat(16)6
Avg EPS beat(16)-3.99%
Revenue beat(2)1
Avg Revenue beat(2)-2.23%
Min Revenue beat(2)-7.3%
Max Revenue beat(2)2.84%
Revenue beat(4)2
Avg Revenue beat(4)-2.05%
Min Revenue beat(4)-7.3%
Max Revenue beat(4)2.84%
Revenue beat(8)4
Avg Revenue beat(8)-1.19%
Revenue beat(12)6
Avg Revenue beat(12)-0.82%
Revenue beat(16)8
Avg Revenue beat(16)-0.6%
PT rev (1m)-2.37%
PT rev (3m)-4.62%
EPS NQ rev (1m)-0.6%
EPS NQ rev (3m)5.97%
EPS NY rev (1m)1.17%
EPS NY rev (3m)0.8%
Revenue NQ rev (1m)0.26%
Revenue NQ rev (3m)-1.24%
Revenue NY rev (1m)0.88%
Revenue NY rev (3m)1.27%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.4 | ||
| Fwd PE | 19.97 | ||
| P/S | 2.89 | ||
| P/FCF | 110.74 | ||
| P/OCF | 97 | ||
| P/B | 3.3 | ||
| P/tB | 3.3 | ||
| EV/EBITDA | 13.64 |
EPS(TTM)2.38
EY5.15%
EPS(NY)2.31
Fwd EY5.01%
FCF(TTM)0.42
FCFY0.9%
OCF(TTM)0.48
OCFY1.03%
SpS15.95
BVpS13.98
TBVpS13.98
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.37% | ||
| ROE | 18.99% | ||
| ROCE | 5.36% | ||
| ROIC | 4.3% | ||
| ROICexc | 4.5% | ||
| ROICexgc | 5.13% | ||
| OM | 19.73% | ||
| PM (TTM) | 16.64% | ||
| GM | N/A | ||
| FCFM | 2.61% |
ROA(3y)4.74%
ROA(5y)4.96%
ROE(3y)20.1%
ROE(5y)19.3%
ROIC(3y)4.78%
ROIC(5y)4.81%
ROICexc(3y)4.99%
ROICexc(5y)5.03%
ROICexgc(3y)5.72%
ROICexgc(5y)5.69%
ROCE(3y)5.96%
ROCE(5y)5.99%
ROICexcg growth 3Y2.96%
ROICexcg growth 5Y-5.98%
ROICexc growth 3Y2.27%
ROICexc growth 5Y-6.79%
OM growth 3Y-3.47%
OM growth 5Y-8.09%
PM growth 3Y-5.13%
PM growth 5Y-6.1%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.26
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Debt/EBITDA | 0 | ||
| Cap/Depr | 118.86% | ||
| Cap/Sales | 0.37% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 14.89% | ||
| Profit Quality | 15.71% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score5
WACC8.87%
ROIC/WACC0.48
Cap/Depr(3y)92.38%
Cap/Depr(5y)99.43%
Cap/Sales(3y)0.38%
Cap/Sales(5y)0.37%
Profit Quality(3y)45.41%
Profit Quality(5y)52.83%
High Growth Momentum
Growth
EPS 1Y (TTM)-9.16%
EPS 3Y-3.68%
EPS 5Y-11.34%
EPS Q2Q%-8.62%
EPS Next Y-6.86%
EPS Next 2Y-4.22%
EPS Next 3Y-5.27%
EPS Next 5YN/A
Revenue 1Y (TTM)-1.18%
Revenue growth 3Y-0.45%
Revenue growth 5Y-3.91%
Sales Q2Q%6.93%
Revenue Next Year-0.09%
Revenue Next 2Y2.58%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-12.35%
EBIT growth 3Y-3.9%
EBIT growth 5Y-11.68%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-65.27%
FCF growth 3Y-13.99%
FCF growth 5Y-21.39%
OCF growth 1Y-62.17%
OCF growth 3Y-13.98%
OCF growth 5Y-21.04%