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AmTrust Financial Services

DB:721
Snowflake Description

Mediocre balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
721
DB
$3B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

AmTrust Financial Services, Inc. provides property and casualty insurance in the United States and internationally. The last earnings update was 20 days ago. More info.


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721 Share Price and Events
7 Day Returns
6.6%
DB:721
1.7%
DE Insurance
0.4%
DE Market
1 Year Returns
56.7%
DB:721
-1.9%
DE Insurance
-10.1%
DE Market
721 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AmTrust Financial Services (721) 6.6% 3.4% 4.8% 56.7% -55.3% -
DE Insurance 1.7% 4.8% 2.4% -1.9% 9.9% 51.4%
DE Market 0.4% 0.7% -8.4% -10.1% 15% 46.1%
1 Year Return vs Industry and Market
  • 721 outperformed the Insurance industry which returned -1.9% over the past year.
  • 721 outperformed the Market in Germany which returned -10.1% over the past year.
Price Volatility
721
Industry
5yr Volatility vs Market

721 Value

 Is AmTrust Financial Services undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AmTrust Financial Services to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AmTrust Financial Services.

DB:721 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $13.81 * 11.1%
$1.53
Book Value of Equity per Share Median Book Value from the past 5 years. $13.81
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:721
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 9.5%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.557 (1 + (1- 21%) (59.22%))
0.818
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (0.818 * 9.46%)
8.27%

Discounted Cash Flow Calculation for DB:721 using Excess Returns Model Model

The calculations below outline how an intrinsic value for AmTrust Financial Services is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:721 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.1% – 8.27%) * $13.81)
$0.39
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.39 / (8.27% - 0.54%)
$4.99
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $13.81 + $4.99
$18.81
DB:721 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:721 represents 0.87661x of NasdaqGS:AFSI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87661x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 18.81 x 0.87661
€16.49
Value per share (EUR) From above. €16.49
Current discount Discount to share price of €12.93
= -1 x (€12.93 - €16.49) / €16.49
21.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price AmTrust Financial Services is available for.
Intrinsic value
22%
Share price is €12.93 vs Future cash flow value of €16.49
Current Discount Checks
For AmTrust Financial Services to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • AmTrust Financial Services's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • AmTrust Financial Services's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AmTrust Financial Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AmTrust Financial Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:721 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $0.98
NasdaqGS:AFSI Share Price ** NasdaqGS (2018-11-28) in USD $14.75
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 11.17x
Germany Market PE Ratio Median Figure of 412 Publicly-Listed Companies 17.43x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AmTrust Financial Services.

DB:721 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:AFSI Share Price ÷ EPS (both in USD)

= 14.75 ÷ 0.98

15.1x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AmTrust Financial Services is overvalued based on earnings compared to the DE Insurance industry average.
  • AmTrust Financial Services is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does AmTrust Financial Services's expected growth come at a high price?
Raw Data
DB:721 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.1x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 2x
Germany Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for AmTrust Financial Services, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on AmTrust Financial Services's assets?
Raw Data
DB:721 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $12.60
NasdaqGS:AFSI Share Price * NasdaqGS (2018-11-28) in USD $14.75
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.03x
Germany Market PB Ratio Median Figure of 555 Publicly-Listed Companies 1.83x
DB:721 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:AFSI Share Price ÷ Book Value per Share (both in USD)

= 14.75 ÷ 12.60

1.17x

* Primary Listing of AmTrust Financial Services.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AmTrust Financial Services is overvalued based on assets compared to the DE Insurance industry average.
X
Value checks
We assess AmTrust Financial Services's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. AmTrust Financial Services has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

721 Future Performance

 How is AmTrust Financial Services expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as AmTrust Financial Services has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.5%
Expected Insurance industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AmTrust Financial Services expected to grow at an attractive rate?
  • Unable to compare AmTrust Financial Services's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare AmTrust Financial Services's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare AmTrust Financial Services's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:721 Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 5.5%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 10.9%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:721 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:721 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2019-12-31
2018-12-31 5,314 177 1
DB:721 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 5,965 59 192
2018-06-30 5,860 -329 102
2018-03-31 6,073 -328 224
2017-12-31 5,964 -375 -415
2017-09-30 5,940 -38 -75
2017-06-30 5,879 546 181
2017-03-31 5,631 464 302
2016-12-31 5,458 917 363
2016-09-30 5,236 1,307 346
2016-06-30 5,054 1,465 451
2016-03-31 4,781 1,520 370
2015-12-31 4,622 1,011 419

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if AmTrust Financial Services is high growth as no earnings estimate data is available.
  • Unable to determine if AmTrust Financial Services is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:721 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from AmTrust Financial Services Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:721 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2019-12-31
2018-12-31
DB:721 Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 0.98
2018-06-30 0.52
2018-03-31 1.17
2017-12-31 -2.23
2017-09-30 -0.42
2017-06-30 1.04
2017-03-31 1.76
2016-12-31 2.10
2016-09-30 2.01
2016-06-30 2.65
2016-03-31 2.20
2015-12-31 2.54

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if AmTrust Financial Services will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of 721’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. AmTrust Financial Services's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Insurance companies here
  3. AmTrust Financial Services's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess AmTrust Financial Services's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AmTrust Financial Services has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

721 Past Performance

  How has AmTrust Financial Services performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AmTrust Financial Services's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AmTrust Financial Services's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • AmTrust Financial Services has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • AmTrust Financial Services has become profitable in the last year making it difficult to compare the DE Insurance industry average.
Earnings and Revenue History
AmTrust Financial Services's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AmTrust Financial Services Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:721 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 5,964.60 192.13 616.04
2018-06-30 5,860.50 101.93 616.04
2018-03-31 6,072.80 224.03 616.04
2017-12-31 5,963.60 -415.17 616.04
2017-09-30 5,940.23 -74.85 468.35
2017-06-30 5,879.47 180.51 468.35
2017-03-31 5,631.07 301.76 468.35
2016-12-31 5,458.05 363.14 468.35
2016-09-30 5,236.18 346.18 130.19
2016-06-30 5,054.38 451.08 257.18
2016-03-31 4,781.25 369.60 405.77
2015-12-31 4,622.49 418.80 331.49
2015-09-30 4,402.79 404.68 517.16
2015-06-30 4,258.35 375.12 493.35
2015-03-31 4,170.56 435.36 437.18
2014-12-31 4,022.82 401.81 410.38
2014-09-30 3,853.34 426.12 364.81
2014-06-30 3,509.62 328.25 334.45
2014-03-31 3,147.98 293.88 318.50
2013-12-31 2,697.90 277.81 288.70
2013-09-30 2,202.36 268.35 271.23
2013-06-30 1,976.59 253.15 233.71
2013-03-31 1,757.85 221.81 201.09
2012-12-31 1,668.17 177.28 177.37
2012-09-30 1,733.84 160.05 14.17
2012-06-30 1,604.73 154.29 22.80
2012-03-31 1,496.15 164.19 4.42
2011-12-31 1,203.80 170.32 168.86

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AmTrust Financial Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • AmTrust Financial Services used its assets more efficiently than the DE Insurance industry average last year based on Return on Assets.
  • It is difficult to establish if AmTrust Financial Services improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess AmTrust Financial Services's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AmTrust Financial Services has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

721 Health

 How is AmTrust Financial Services's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AmTrust Financial Services's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AmTrust Financial Services is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AmTrust Financial Services's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of AmTrust Financial Services's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 7.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AmTrust Financial Services Company Filings, last reported 1 month ago.

DB:721 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 3,459.20 1,726.80 756.10
2018-06-30 3,601.10 1,698.10 987.30
2018-03-31 3,932.40 1,460.90 1,036.20
2017-12-31 3,370.07 1,456.70 1,097.77
2017-09-30 3,695.95 1,455.72 886.55
2017-06-30 3,897.65 1,484.30 1,001.21
2017-03-31 3,513.97 1,768.36 776.14
2016-12-31 3,466.97 1,563.15 683.51
2016-09-30 3,481.55 1,403.75 1,176.28
2016-06-30 3,208.79 1,230.24 1,164.26
2016-03-31 3,324.90 993.92 1,062.18
2015-12-31 2,901.41 1,161.04 1,048.36
2015-09-30 2,800.62 1,179.89 966.56
2015-06-30 2,633.32 1,146.14 918.33
2015-03-31 2,625.99 762.94 1,070.24
2014-12-31 2,196.80 925.85 993.42
2014-09-30 2,144.36 762.43 619.66
2014-06-30 1,865.33 731.89 645.43
2014-03-31 1,720.93 825.59 610.24
2013-12-31 1,579.47 1,021.37 944.22
2013-09-30 1,507.02 935.25 508.27
2013-06-30 1,426.60 685.48 464.84
2013-03-31 1,280.01 609.93 480.75
2012-12-31 1,248.07 709.50 424.65
2012-09-30 1,156.81 700.56 558.47
2012-06-30 1,072.53 702.41 390.89
2012-03-31 1,036.80 675.04 361.75
2011-12-31 960.26 642.80 535.41
  • AmTrust Financial Services's level of debt (49.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (62.1% vs 49.9% today).
  • Debt is not well covered by operating cash flow (3.4%, less than 20% of total debt).
  • AmTrust Financial Services earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess AmTrust Financial Services's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AmTrust Financial Services has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

721 Dividends

 What is AmTrust Financial Services's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from AmTrust Financial Services dividends. Estimated to be 1.15% next year.
If you bought €2,000 of AmTrust Financial Services shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate AmTrust Financial Services's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate AmTrust Financial Services's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:721 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:721 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2019-12-31
2018-12-31 0.17 1.00
DB:721 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-11-09 0.000 0.000
2018-08-09 0.000 0.000
2018-03-01 0.680 5.031
2017-11-08 0.680 6.140
2017-08-08 0.680 5.176
2017-05-15 0.680 4.756
2017-02-14 0.680 3.704
2016-11-03 0.680 2.542
2016-08-02 0.680 2.581
2016-05-03 0.600 2.374
2016-02-10 0.600 2.368
2015-11-03 0.600 2.015
2015-08-04 0.600 1.902
2015-05-05 0.500 1.583
2015-02-03 0.500 1.764
2014-11-04 0.500 1.894
2014-08-07 0.400 1.850
2014-05-01 0.400 1.875
2014-02-18 0.400 2.150
2013-11-05 0.280 1.592
2013-08-06 0.280 1.483
2013-05-23 0.255 1.525
2013-03-05 0.255 1.673
2013-03-01 0.182 1.169
2013-02-14 0.182 1.197
2012-11-06 0.182 1.344
2012-08-06 0.182 1.555
2012-05-01 0.165 1.367
2012-02-15 0.149 1.348
2011-11-01 0.149 1.418
2011-07-29 0.149 1.574
2011-05-03 0.132 1.463
2011-02-15 0.132 1.705
2010-11-03 0.132 1.852
2010-08-03 0.116 1.937
2010-05-07 0.116 2.171
2010-05-03 0.116 2.075
2010-02-16 0.116 1.997
2009-11-06 0.099 2.004
2009-08-10 0.099 2.005
2009-05-12 0.099 2.242
2009-05-11 0.083 2.059
2009-05-05 0.083 2.071
2009-02-18 0.083 2.234
2008-12-01 0.083 2.029

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as AmTrust Financial Services has not reported any payouts.
  • Unable to verify if AmTrust Financial Services's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of AmTrust Financial Services's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as AmTrust Financial Services has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess AmTrust Financial Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AmTrust Financial Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AmTrust Financial Services has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

721 Management

 What is the CEO of AmTrust Financial Services's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Barry Zyskind
COMPENSATION $1,980,104
AGE 46
TENURE AS CEO 18.8 years
CEO Bio

Mr. Barry Dov Zyskind has been Chief Executive Officer and President of AmTrust Financial Services, Inc. since 2000 and has been its Chairman of the Board since May 19, 2016. Mr. Zyskind has held senior management positions at Amtrust Financial Services, Inc. since 1998. He serves as the President of AmTrust Financial Group, Inc. ('AFG''), the ultimate parent company of AmTrust, TIC, RIC and WIC. He serves as a Vice President of G/MK Acquisition Corp. ('G/MK''), the direct parent company of AmTrust. Prior to joining AmTrust in 1998, he was an Investment Banker at Janney Montgomery Scott LLC in New York. He has been the Non-Executive Chairman of Maiden Holdings, Ltd. since June 2007. He was the Non-Executive Chairman of National General Holdings Corp. since May 9, 2016 until May 2018 and has been its Director since June 2013. He has been a Director of Amtrust Financial Services, Inc. since 1998. He serves as a Director of American Stock Transfer & Trust Co and G/MK Acquisition Corp. ('G/MK''). He serves as a Director of AmTrust Financial Group, Inc. ('AFG''), Leap Tide Capital Management, Inc. He serves as a Director of AmTrust Capital Management, Inc. In 2012, he was ranked Number 11 on Forbes magazine’s “20 Most Powerful CEOs 40 and Under” list. He received MBA from New York University's Stern School of Business in 1997.

CEO Compensation
  • Barry's compensation has been consistent with company performance over the past year.
  • Barry's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the AmTrust Financial Services management team in years:

2
Average Tenure
48.5
Average Age
  • The tenure for the AmTrust Financial Services management team is about average.
Management Team

Barry Zyskind

TITLE
Chairman of the Board
COMPENSATION
$2M
AGE
46
TENURE
18.8 yrs

Adam Karkowsky

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
43
TENURE
1.4 yrs

Chris Longo

TITLE
Executive VP & COO
COMPENSATION
$2M
AGE
44
TENURE
2.5 yrs

Mike Saxon

TITLE
Executive Vice President of US Commercial Lines
COMPENSATION
$1M
AGE
59
TENURE
2.5 yrs

Ron Pipoly

TITLE
Executive Vice President of Finance
COMPENSATION
$2M
AGE
51
TENURE
1.4 yrs

Max Caviet

TITLE
Chief Executive Officer of AmTrust International Limited
COMPENSATION
$2M
AGE
65

Robert Schwarz

TITLE
Chief Accounting Officer and Senior Vice President
TENURE
1.6 yrs

Ariel Gorelik

TITLE
Senior VP & Chief Information Officer
AGE
38
TENURE
1.3 yrs

Chaya Cooperberg

TITLE
Chief Communications Officer & SVP Corporate Affairs

David Saks

TITLE
Executive VP & Chief Legal Officer
COMPENSATION
$3M
AGE
51
TENURE
9.5 yrs
Board of Directors Tenure

Average tenure and age of the AmTrust Financial Services board of directors in years:

5.5
Average Tenure
70
Average Age
  • The tenure for the AmTrust Financial Services board of directors is about average.
Board of Directors

Barry Zyskind

TITLE
Chairman of the Board
COMPENSATION
$2M
AGE
46
TENURE
2.5 yrs

Abraham Gulkowitz

TITLE
Director
COMPENSATION
$292K
AGE
69
TENURE
12.8 yrs

Donald DeCarlo

TITLE
Director
COMPENSATION
$376K
AGE
79
TENURE
12.8 yrs

George Karfunkel

TITLE
Director
COMPENSATION
$285K
AGE
69
TENURE
20.8 yrs

Susan Fisch

TITLE
Director
COMPENSATION
$351K
AGE
73
TENURE
8.5 yrs

Leah Karfunkel

TITLE
Director
COMPENSATION
$285K
AGE
71
TENURE
2.5 yrs

Raul Rivera

TITLE
Director
COMPENSATION
$223K
AGE
75
TENURE
2.3 yrs

Mark Serock

TITLE
Director
AGE
67
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
27. Jun 18 Sell Ariel Gorelik Individual 27. Jun 18 27. Jun 18 -4,244 €12.54 €-53,229
17. May 18 Buy Icahn Capital LP Company 26. Apr 18 09. May 18 6,931,047 €11.14 €77,211,815
17. May 18 Sell Ariel Gorelik Individual 16. May 18 16. May 18 -5,707 €11.29 €-64,404
23. Apr 18 Buy Barry Zyskind Individual 19. Apr 18 19. Apr 18 2,945,113 €10.21 €30,075,030
12. Jun 18 Buy Donald DeCarlo Individual 02. Apr 07 02. Apr 07 12,100 €3.27 €39,577
X
Management checks
We assess AmTrust Financial Services's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AmTrust Financial Services has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

721 News

External News
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Simply Wall St News

721 Company Info

Map
Description

AmTrust Financial Services, Inc. provides property and casualty insurance in the United States and internationally. The company operates in three segments: Small Commercial Business, Specialty Risk and Extended Warranty, and Specialty Program. The Small Commercial Business segment offers workers’ compensation insurance products; and commercial package, and other property and casualty insurance products, such as commercial property, general liability, inland marine, employment practices liability, commercial automobile, and umbrella coverage to small businesses. The Specialty Risk and Extended Warranty segment provides custom designed coverages, such as accidental damage plans, mechanical breakdown protection, and payment protection plans in connection with the sale of consumer and commercial goods; and coverage for niche property, casualty, and specialty liability risks comprising general liability, employers’ liability, and professional and medical liability. The Specialty Program segment offers workers’ compensation, general liability, commercial auto liability, property coverage, excess and surplus lines programs, and other specialty commercial property and casualty insurance products to small and middle market companies. The company also provides reinsurance services primarily for personal and commercial automotive business. It distributes its policies third-party brokers, agents, retailers, or administrators. AmTrust Financial Services, Inc. was founded in 1998 and is based in New York, New York.

Details
Name: AmTrust Financial Services, Inc.
721
Exchange: DB
Founded: 1998
$2,584,533,783
197,701,263
Website: http://www.amtrustfinancial.com
Address: AmTrust Financial Services, Inc.
59 Maiden Lane,
43rd Floor,
New York,
New York, 10038,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS AFSI Common Stock Nasdaq Global Select US USD 13. Nov 2006
DB 721 Common Stock Deutsche Boerse AG DE EUR 13. Nov 2006
LSE 0HFJ Common Stock London Stock Exchange GB USD 13. Nov 2006
NYSE AFSI.PRA PFD SER A New York Stock Exchange US USD 05. Jun 2013
NYSE AFSI.PRB DEP 1/40 PFD B New York Stock Exchange US USD 30. Jun 2014
NYSE AFSI.PRE DSHS 1/40 PF E New York Stock Exchange US USD 10. Mar 2016
NYSE AFSS 7.25 SUB NT 55 New York Stock Exchange US USD 22. Jun 2015
NYSE AFSI.PRD DEP SHS PFD New York Stock Exchange US USD 17. Mar 2015
NYSE AFSI.PRC DEP 1/40 SR-C New York Stock Exchange US USD 12. Sep 2014
Number of employees
Current staff
Staff numbers
9,300
AmTrust Financial Services employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/29 19:32
End of day share price update: 2018/11/28 00:00
Last estimates confirmation: 2018/10/11
Last earnings filing: 2018/11/09
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.