AMERISAFE INC (AMSF) Stock Fundamental Analysis
USA - NASDAQ:AMSF - US03071H1005 - Common Stock
42.15 USD
+0.85 (+2.06%)
42.15 USD
0 (0%)
We assign a fundamental rating of 4 out of 10 to AMSF. AMSF was compared to 145 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.
AMSF had positive earnings in each of the past 5 years.
AMSF had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
AMSF's Return On Assets of 4.37% is amongst the best of the industry. AMSF outperforms 82.07% of its industry peers.
The Return On Equity of AMSF (18.99%) is better than 88.28% of its industry peers.
The Return On Invested Capital of AMSF (4.30%) is better than 74.48% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for AMSF is in line with the industry average of 4.40%.
| 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
Looking at the Profit Margin, with a value of 16.64%, AMSF belongs to the top of the industry, outperforming 86.90% of the companies in the same industry.
In the last couple of years the Profit Margin of AMSF has declined.
With a decent Operating Margin value of 19.73%, AMSF is doing good in the industry, outperforming 75.86% of the companies in the same industry.
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AMSF is destroying value.
AMSF has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, AMSF has less shares outstanding
Compared to 1 year ago, AMSF has an improved debt to assets ratio.
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/WACC0.49
WACC8.69%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
AMSF shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -9.16%.
The earnings per share for AMSF have been decreasing by -11.34% on average. This is quite bad
AMSF shows a decrease in Revenue. In the last year, the revenue decreased by -1.18%.
The Revenue has been decreasing by -3.91% on average over the past years.
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
Based on estimates for the next years, AMSF will show a decrease in Earnings Per Share. The EPS will decrease by -5.27% on average per year.
The Revenue is expected to grow by 2.58% on average over the next years.
EPS Next Y-8.21%
EPS Next 2Y-5.28%
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
Based on the Price/Earnings ratio of 17.71, the valuation of AMSF can be described as rather expensive.
64.14% of the companies in the same industry are cheaper than AMSF, based on the Price/Earnings ratio.
AMSF's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.50.
Based on the Price/Forward Earnings ratio of 18.64, the valuation of AMSF can be described as rather expensive.
AMSF's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. AMSF is more expensive than 66.90% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.99. AMSF is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.71 | ||
| Fwd PE | 18.64 |
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 71.72% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 101.08 | ||
| EV/EBITDA | 12.12 |
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 -5.27% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-5.28%
EPS Next 3Y-5.27%
5. Dividend
5.1 Amount
AMSF has a Yearly Dividend Yield of 3.81%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.54, AMSF pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.44, AMSF pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.81% |
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.
The Dividend Rate of AMSF has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP170.9%
EPS Next 2Y-5.28%
EPS Next 3Y-5.27%
42.15
+0.85 (+2.06%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)
Earnings (Next)
Inst Owners102.24%
Inst Owner Change-0.03%
Ins Owners1.35%
Ins Owner Change6.7%
Market Cap800.43M
Analysts77.78
Price Target55.42 (31.48%)
Short Float %1.67%
Short Ratio2.59
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.81% |
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)-1.21%
PT rev (3m)-3.55%
EPS NQ rev (1m)0.58%
EPS NQ rev (3m)2.43%
EPS NY rev (1m)-1.45%
EPS NY rev (3m)-0.3%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.26%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.53%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.71 | ||
| Fwd PE | 18.64 | ||
| P/S | 2.64 | ||
| P/FCF | 101.08 | ||
| P/OCF | 88.53 | ||
| P/B | 3.01 | ||
| P/tB | 3.01 | ||
| EV/EBITDA | 12.12 |
EPS(TTM)2.38
EY5.65%
EPS(NY)2.26
Fwd EY5.36%
FCF(TTM)0.42
FCFY0.99%
OCF(TTM)0.48
OCFY1.13%
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
WACC8.69%
ROIC/WACC0.49
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-8.21%
EPS Next 2Y-5.28%
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%