AMERISAFE INC (AMSF) Stock Fundamental Analysis
NASDAQ:AMSF - Nasdaq - US03071H1005 - Common Stock - Currency: USD
Overall AMSF gets a fundamental rating of 4 out of 10. We evaluated AMSF against 143 industry peers in the Insurance industry. AMSF has an average financial health and profitability rating. AMSF is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
AMSF had positive earnings in the past year.
In the past year AMSF had a positive cash flow from operations.
In the past 5 years AMSF has always been profitable.
Each year in the past 5 years AMSF had a positive operating cash flow.
1.2 Ratios
With an excellent Return On Assets value of 4.79%, AMSF belongs to the best of the industry, outperforming 83.92% of the companies in the same industry.
The Return On Equity of AMSF (21.54%) is better than 90.91% of its industry peers.
With a decent Return On Invested Capital value of 4.28%, AMSF is doing good in the industry, outperforming 79.02% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for AMSF is in line with the industry average of 4.23%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.79% | ||
| ROE | 21.54% | ||
| ROIC | 4.28% |
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
With an excellent Profit Margin value of 18.50%, AMSF belongs to the best of the industry, outperforming 86.71% of the companies in the same industry.
AMSF's Profit Margin has declined in the last couple of years.
AMSF's Operating Margin of 19.88% is fine compared to the rest of the industry. AMSF outperforms 78.32% of its industry peers.
AMSF's Operating Margin has declined in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.88% | ||
| PM (TTM) | 18.5% | ||
| 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
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/WACC0.47
WACC9.09%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
AMSF shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -12.27%.
Measured over the past years, AMSF shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -11.34% on average per year.
AMSF shows a decrease in Revenue. In the last year, the revenue decreased by -1.99%.
AMSF shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.91% yearly.
EPS 1Y (TTM)-12.27%
EPS 3Y-3.68%
EPS 5Y-11.34%
EPS Q2Q%-13.04%
Revenue 1Y (TTM)-1.99%
Revenue growth 3Y-0.45%
Revenue growth 5Y-3.91%
Sales Q2Q%-5.89%
3.2 Future
Based on estimates for the next years, AMSF will show a decrease in Earnings Per Share. The EPS will decrease by -4.84% on average per year.
The Revenue is expected to grow by 2.52% on average over the next years.
EPS Next Y-5.38%
EPS Next 2Y-4.84%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-1.35%
Revenue Next 2Y2.52%
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 18.94, which indicates a rather expensive current valuation of AMSF.
Compared to the rest of the industry, the Price/Earnings ratio of AMSF indicates a slightly more expensive valuation: AMSF is more expensive than 65.03% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of AMSF to the average of the S&P500 Index (24.85), we can say AMSF is valued slightly cheaper.
A Price/Forward Earnings ratio of 20.17 indicates a rather expensive valuation of AMSF.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AMSF indicates a slightly more expensive valuation: AMSF is more expensive than 69.93% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of AMSF to the average of the S&P500 Index (20.89), we can say AMSF is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.94 | ||
| Fwd PE | 20.17 |
4.2 Price Multiples
AMSF's Enterprise Value to EBITDA ratio is in line with the industry average.
72.03% of the companies in the same industry are cheaper than AMSF, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 37.55 | ||
| EV/EBITDA | 13.96 |
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 -4.84% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-4.84%
EPS Next 3YN/A
5. Dividend
5.1 Amount
AMSF has a Yearly Dividend Yield of 3.29%.
AMSF's Dividend Yield is a higher than the industry average which is at 3.19.
Compared to an average S&P500 Dividend Yield of 2.40, AMSF pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.29% |
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
AMSF pays out 154.12% of its income as dividend. 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.
DP154.12%
EPS Next 2Y-4.84%
EPS Next 3YN/A
46.03
-0.71 (-1.52%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)
Earnings (Next)
Inst Owners99.93%
Inst Owner Change1.21%
Ins Owners1.17%
Ins Owner Change0%
Market Cap876.87M
Analysts76
Price Target58.82 (27.79%)
Short Float %0.75%
Short Ratio1.31
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.29% |
Yearly Dividend4.47
Dividend Growth(5Y)-0.15%
DP154.12%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.13%
Min EPS beat(2)-2.63%
Max EPS beat(2)4.89%
EPS beat(4)1
Avg EPS beat(4)-2.67%
Min EPS beat(4)-9.06%
Max EPS beat(4)4.89%
EPS beat(8)3
Avg EPS beat(8)-1.06%
EPS beat(12)5
Avg EPS beat(12)1.17%
EPS beat(16)8
Avg EPS beat(16)-1.01%
Revenue beat(2)1
Avg Revenue beat(2)-1.88%
Min Revenue beat(2)-6.19%
Max Revenue beat(2)2.43%
Revenue beat(4)3
Avg Revenue beat(4)0.36%
Min Revenue beat(4)-6.19%
Max Revenue beat(4)4.98%
Revenue beat(8)4
Avg Revenue beat(8)-0.57%
Revenue beat(12)7
Avg Revenue beat(12)0.29%
Revenue beat(16)7
Avg Revenue beat(16)-0.65%
PT rev (1m)0%
PT rev (3m)2.37%
EPS NQ rev (1m)0%
EPS NQ rev (3m)8.88%
EPS NY rev (1m)-0.54%
EPS NY rev (3m)1.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.23%
Revenue NY rev (1m)-1.63%
Revenue NY rev (3m)-2.2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.94 | ||
| Fwd PE | 20.17 | ||
| P/S | 2.93 | ||
| P/FCF | 37.55 | ||
| P/OCF | 36.25 | ||
| P/B | 3.41 | ||
| P/tB | 3.41 | ||
| EV/EBITDA | 13.96 |
EPS(TTM)2.43
EY5.28%
EPS(NY)2.28
Fwd EY4.96%
FCF(TTM)1.23
FCFY2.66%
OCF(TTM)1.27
OCFY2.76%
SpS15.73
BVpS13.51
TBVpS13.51
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.79% | ||
| ROE | 21.54% | ||
| ROCE | 5.33% | ||
| ROIC | 4.28% | ||
| ROICexc | 4.45% | ||
| ROICexgc | 5.09% | ||
| OM | 19.88% | ||
| PM (TTM) | 18.5% | ||
| GM | N/A | ||
| FCFM | 7.79% |
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 | 76.85% | ||
| Cap/Sales | 0.28% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 39.89% | ||
| Profit Quality | 42.12% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score5
WACC9.09%
ROIC/WACC0.47
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)-12.27%
EPS 3Y-3.68%
EPS 5Y-11.34%
EPS Q2Q%-13.04%
EPS Next Y-5.38%
EPS Next 2Y-4.84%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-1.99%
Revenue growth 3Y-0.45%
Revenue growth 5Y-3.91%
Sales Q2Q%-5.89%
Revenue Next Year-1.35%
Revenue Next 2Y2.52%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-21.78%
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-20.28%
FCF growth 3Y-13.99%
FCF growth 5Y-21.39%
OCF growth 1Y-18.94%
OCF growth 3Y-13.98%
OCF growth 5Y-21.04%