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 Overview →
Growth & profitability
Revenue has declined 1.3% per year over the past 5 years.
Net income has grown slower than revenue (-11.5% vs -1.3% per year).
Free cash flow has declined 32.2% per year over the past 5 years.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 133.1% of earnings and 702.8% of free cash flow.
The dividend has declined 6.7% per year over the past 5 years.
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
$317M
$47M
0.0%
0.0%
18.7%
4.2%
$9M
—
$62M
2024
$309M
$55M
0.0%
0.0%
21.5%
4.8%
$23M
—
$44M
2023
$307M
$62M
0.0%
0.0%
21.2%
5.1%
$29M
—
$39M
2022
$295M
$56M
0.0%
0.0%
17.5%
4.4%
$26M
—
$61M
2021
$316M
$66M
0.0%
0.0%
16.5%
4.7%
$37M
—
$71M
2020
$339M
$87M
0.0%
0.0%
19.7%
5.9%
$62M
—
$62M
2019
$370M
$93M
0.0%
0.0%
21.5%
6.2%
$78M
—
$44M
2018
$378M
$72M
0.0%
0.0%
17.5%
4.7%
$97M
—
$40M
2017
$375M
$46M
0.0%
0.0%
10.9%
3.0%
$130M
—
$56M
2016
$397M
$78M
0.0%
0.0%
17.1%
5.1%
$113M
—
$59M
2015
$401M
$70M
0.0%
0.0%
15.5%
4.7%
—
—
$69M
2014
$404M
$54M
0.0%
0.0%
12.0%
3.7%
—
—
$91M
2013
$356M
$44M
0.0%
0.0%
10.5%
3.3%
—
—
$123M
2012
$321M
$29M
0.0%
0.0%
7.7%
2.4%
$80M
—
$93M
2011
$281M
$24M
0.0%
0.0%
6.9%
2.1%
$43M
—
$46M
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
Sep '26
$80M
$7M
0.0%
0.0%
3.0%
0.6%
$3M
—
$40M
Jun '26
$92M
$15M
0.0%
0.0%
5.8%
1.3%
$2M
—
$65M
Mar '26
$80M
$8M
0.0%
0.0%
3.3%
0.7%
-$3M
—
$34M
Dec '25
$82M
$10M
0.0%
0.0%
4.1%
0.9%
$10M
—
$62M
Sep '25
$82M
$14M
0.0%
0.0%
5.0%
1.2%
$10M
—
$55M
Jun '25
$81M
$14M
0.0%
0.0%
5.3%
1.2%
-$10M
—
$48M
Mar '25
$73M
$9M
0.0%
0.0%
3.4%
0.8%
-$2M
—
$45M
Dec '24
$74M
$13M
0.0%
0.0%
5.1%
1.1%
$11M
—
$44M
Sep '24
$79M
$14M
0.0%
0.0%
4.6%
1.1%
$8M
—
$64M
Jun '24
$76M
$11M
0.0%
0.0%
3.7%
0.9%
-$3M
—
$31M
Mar '24
$80M
$17M
0.0%
0.0%
5.6%
1.4%
$7M
—
$33M
Dec '23
$80M
$19M
0.0%
0.0%
6.6%
1.6%
$4M
—
$39M
Sep '23
$73M
$10M
0.0%
0.0%
3.0%
0.8%
$5M
—
$59M
Jun '23
$76M
$16M
0.0%
0.0%
4.6%
1.2%
$7M
—
$34M
Mar '23
$78M
$17M
0.0%
0.0%
5.2%
1.3%
$13M
—
$41M
Dec '22
$80M
$21M
0.0%
0.0%
6.5%
1.6%
-$8M
—
$61M
Sep '22
$71M
$11M
0.0%
0.0%
3.0%
0.8%
$10M
—
$91M
Jun '22
$68M
$6M
0.0%
0.0%
1.6%
0.4%
$17M
—
$85M
Mar '22
$76M
$17M
0.0%
0.0%
4.4%
1.2%
$7M
—
$31M
Dec '21
$78M
$4M
0.0%
0.0%
0.9%
0.3%
$8M
—
$71M
Valuation over time
How the market has priced AMSF 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 16.3× (Mar '23) to 8.1× (Nov '26).
The price-to-sales ratio has fallen from 3.1× (Mar '23) to 1.2× (Nov '26).
The dividend yield has risen from 8.6% (Mar '23) to 16.4% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is AMSF growing its revenue and profit?
Over the past 5 years, AMERISAFE INC's revenue has declined 1.3% per year, and net income declined 11.5% per year. These are computed facts, not advice.
How much debt does AMSF have?
As of FY2025, AMERISAFE INC reported — of total debt against $62M of cash.
What is AMSF's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin 14.8%.
What is AMSF's P/E ratio?
AMERISAFE INC's P/E (TTM) is 9.50 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 AMSF stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 8.1× 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.