AAME Financials ATLANTIC AMERICAN CORP

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 22, 2026, 11:08 UTC Overview →

Growth & profitability

Revenue has grown 1.5% per year over the past 5 years.
Net income has grown slower than revenue (-13.1% vs 1.5% per year).
Operating margin has contracted, at 1.8% in the latest year.
Free cash flow has grown 30.0% per year over the past 5 years.

Financial health

Operating income covered interest expense 1.2× in the latest year, down from 7.2× 5 years ago.

Shareholder returns

Dividends have been paid for 5 consecutive years, consuming 6.8% of earnings and 1.3% of free cash flow.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$210M	$6M	0.0%	1.8%	5.0%	1.4%	$32M	—	$44M
2024	$188M	-$1M	0.0%	-0.7%	-1.3%	-0.4%	$5M	—	$36M
2023	$187M	-$171000	0.0%	0.8%	-0.2%	-0.0%	$3M	—	$28M
2022	$188M	$2M	0.0%	5.1%	1.5%	0.4%	$6M	—	$29M
2021	$200M	$4M	0.0%	-0.7%	3.0%	1.1%	$981000	—	$25M
2020	$195M	$12M	0.0%	5.9%	8.4%	3.0%	$9M	—	$19M
2019	$198M	-$386000	0.0%	-3.8%	-0.3%	-0.1%	-$2M	—	$13M
2018	$186M	-$704000	0.0%	-2.1%	-0.7%	-0.2%	$4M	—	$13M
2017	$181M	$5M	0.0%	-2.1%	4.0%	1.3%	$12M	—	$25M
2016	$166M	$3M	0.0%	0.6%	2.5%	0.8%	$920000	—	$13M
2015	$166M	$4M	0.0%	0.5%	4.3%	1.4%	—	—	$16M
2014	$166M	$4M	0.0%	1.6%	4.3%	1.4%	—	—	$16M
2013	$165M	$11M	0.0%	1.5%	10.9%	3.5%	$12M	—	$33M
2012	$140M	$4M	0.0%	2.6%	4.2%	1.4%	$6M	—	$19M
2011	$118M	$3M	0.0%	2.8%	3.4%	1.1%	$9M	—	$21M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Dec '25	$51M	$1M	0.0%	0.0%	1.1%	0.3%	$18M	—	$44M
Sep '25	$54M	$577000	0.0%	0.0%	0.5%	0.1%	$7M	—	$34M
Jun '25	$55M	$3M	0.0%	0.0%	3.1%	0.8%	$9M	—	$46M
Mar '25	$50M	$802000	0.0%	0.0%	0.8%	0.2%	-$986000	—	$36M
Dec '24	$49M	$3M	0.0%	0.0%	3.0%	0.9%	$10M	—	$36M
Sep '24	$45M	-$2M	0.0%	0.0%	-1.9%	-0.5%	$58000	—	$23M
Jun '24	$48M	-$684000	0.0%	0.0%	-0.7%	-0.2%	$361000	—	$21M
Mar '24	$47M	-$2M	0.0%	0.0%	-1.9%	-0.5%	-$5M	—	$21M
Dec '23	$47M	-$2M	0.0%	0.0%	-2.1%	-0.6%	$6M	—	$28M
Sep '23	$45M	$2M	0.0%	0.0%	1.8%	0.5%	$1M	—	$24M
Jun '23	$49M	$2M	0.0%	0.0%	1.7%	0.5%	$7M	—	$24M
Mar '23	$46M	-$1M	0.0%	0.0%	-1.4%	-0.4%	-$12M	—	$14M
Dec '22	$45M	$1M	0.0%	0.0%	1.0%	0.3%	$9M	—	$29M
Sep '22	$46M	-$684000	0.0%	0.0%	-0.7%	-0.2%	$2M	—	$22M
Jun '22	$45M	-$2M	0.0%	0.0%	-1.5%	-0.4%	$4M	—	$16M
Mar '22	$52M	$3M	0.0%	0.0%	2.2%	0.8%	-$8M	—	$16M
Dec '21	$50M	$3M	0.0%	0.0%	1.9%	0.7%	$11M	—	$25M
Sep '21	$49M	-$915000	0.0%	0.0%	-0.7%	-0.2%	$4M	—	$14M
Jun '21	$51M	$3M	0.0%	0.0%	2.1%	0.7%	-$8M	—	$10M
Mar '21	$49M	-$431000	0.0%	0.0%	-0.3%	-0.1%	-$6M	—	$20M

Valuation over time

How the market has priced AAME against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 33.2× (Mar '23) to 3.7× (Nov '26).
The price-to-sales ratio has fallen from 0.3× (Mar '23) to 0.1× (Nov '26).
The dividend yield has risen from 0.8% (Mar '23) to 1.9% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is AAME growing its revenue and profit?

Over the past 5 years, ATLANTIC AMERICAN CORP's revenue has grown 1.5% per year, and net income declined 13.1% per year. These are computed facts, not advice.

How much debt does AAME have?

As of FY2025, ATLANTIC AMERICAN CORP reported — of total debt against $44M of cash; operating income covered interest expense 1.2×.

What is AAME's profit margin?

In FY2025, gross margin was —, operating margin 1.8%, and net margin 2.9%.

What is AAME's P/E ratio?

ATLANTIC AMERICAN CORP's P/E (TTM) is 3.66 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AAME stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 3.7× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.