AMERISAFE
Market Cap
US$1.2b
Last Updated
2021/03/04 23:23 UTC
Data Sources
Company Financials +
Executive Summary
AMERISAFE, Inc., an insurance holding company, underwrites workers’ compensation insurance in the United States. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 28.1% per year for the next 3 years
Snowflake Analysis
Good value with adequate balance sheet.
Similar Companies
Share Price & News
How has AMERISAFE's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AMSF is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: AMSF's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
0.8%
AMSF
-0.9%
US Insurance
-2.4%
US Market
1 Year Return
-10.3%
AMSF
9.7%
US Insurance
31.2%
US Market
Return vs Industry: AMSF underperformed the US Insurance industry which returned 7% over the past year.
Return vs Market: AMSF underperformed the US Market which returned 29.4% over the past year.
Shareholder returns
| AMSF | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.8% | -0.9% | -2.4% |
| 30 Day | 9.1% | 6.1% | -3.0% |
| 90 Day | 7.0% | 5.8% | 3.2% |
| 1 Year | -3.2%-10.3% | 12.8%9.7% | 34.1%31.2% |
| 3 Year | 32.0%7.0% | 21.3%12.3% | 48.1%38.6% |
| 5 Year | 66.6%18.5% | 74.4%52.6% | 116.5%92.3% |
Long-Term Price Volatility Vs. Market
How volatile is AMERISAFE's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
Why AMERISAFE, Inc. (NASDAQ:AMSF) Is A Dividend Rockstar1 month ago | Simply Wall St
Declining Stock and Decent Financials: Is The Market Wrong About AMERISAFE, Inc. (NASDAQ:AMSF)?2 months ago | Simply Wall St
How Does AMERISAFE's (NASDAQ:AMSF) CEO Salary Compare to Peers?Valuation
Is AMERISAFE undervalued compared to its fair value and its price relative to the market?
26.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AMSF ($60) is trading below our estimate of fair value ($81.85)
Significantly Below Fair Value: AMSF is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: AMSF is good value based on its PE Ratio (13.4x) compared to the US Insurance industry average (14.7x).
PE vs Market: AMSF is good value based on its PE Ratio (13.4x) compared to the US market (21.4x).
Price to Earnings Growth Ratio
PEG Ratio: AMSF's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: AMSF is overvalued based on its PB Ratio (2.6x) compared to the US Insurance industry average (1x).
Next Steps
Future Growth
How is AMERISAFE forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
-28.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AMSF's earnings are forecast to decline over the next 3 years (-28.1% per year).
Earnings vs Market: AMSF's earnings are forecast to decline over the next 3 years (-28.1% per year).
High Growth Earnings: AMSF's earnings are forecast to decline over the next 3 years.
Revenue vs Market: AMSF's revenue is expected to decline over the next 3 years (-5.3% per year).
High Growth Revenue: AMSF's revenue is forecast to decline over the next 3 years (-5.3% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AMSF's Return on Equity is forecast to be low in 3 years time (14%).
Next Steps
Past Performance
How has AMERISAFE performed over the past 5 years?
4.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AMSF has high quality earnings.
Growing Profit Margin: AMSF's current net profit margins (25.5%) are higher than last year (25%).
Past Earnings Growth Analysis
Earnings Trend: AMSF's earnings have grown by 4.4% per year over the past 5 years.
Accelerating Growth: AMSF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AMSF had negative earnings growth (-6.5%) over the past year, making it difficult to compare to the Insurance industry average (-9.8%).
Return on Equity
High ROE: AMSF's Return on Equity (19.7%) is considered low.
Next Steps
Financial Health
How is AMERISAFE's financial position?
Financial Position Analysis
Short Term Liabilities: AMSF's short term assets ($379.5M) do not cover its short term liabilities ($395.3M).
Long Term Liabilities: AMSF's short term assets ($379.5M) do not cover its long term liabilities ($636.7M).
Debt to Equity History and Analysis
Debt Level: AMSF is debt free.
Reducing Debt: AMSF has not had any debt for past 5 years.
Debt Coverage: AMSF has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: AMSF has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
Next Steps
Dividend
What is AMERISAFE current dividend yield, its reliability and sustainability?
7.73%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: AMSF's dividend (7.77%) is higher than the bottom 25% of dividend payers in the US market (1.31%).
High Dividend: AMSF's dividend (7.77%) is in the top 25% of dividend payers in the US market (3.69%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, AMSF has been paying a dividend for less than 10 years.
Growing Dividend: AMSF's dividend payments have increased, but the company has only paid a dividend for 8 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (24.1%), AMSF's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.5yrs
Average management tenure
CEO
Gerry Frost (49 yo)
5.92yrs
Tenure
US$2,185,875
Compensation
Ms. Gerry Janelle Frost has served as Chief Executive Officer since April 1, 2015 and President since September 3, 2013 of AMERISAFE Inc and American Interstate Insurance Company of Texas. She has served a...
CEO Compensation Analysis
Compensation vs Market: Gerry's total compensation ($USD2.19M) is about average for companies of similar size in the US market ($USD2.20M).
Compensation vs Earnings: Gerry's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 5.92yrs | US$2.19m | 0.33% $ 3.8m | |
| Executive VP & CFO | 5.5yrs | US$966.31k | 0.089% $ 1.0m | |
| Executive VP | 1.08yrs | US$649.36k | 0.059% $ 686.3k | |
| Executive VP & Chief Risk Officer | 11.5yrs | US$704.02k | 0.091% $ 1.1m | |
| Executive VP & Chief Underwriting Officer | 1.83yrs | US$1.06m | 0.045% $ 516.6k | |
| Senior Vice President of Claims Operations | 20.5yrs | no data | no data | |
| Senior Vice President of Recruitment & Development | 16yrs | no data | no data | |
| Senior Vice President of Staff Underwriting | 16yrs | no data | no data | |
| Senior Vice President of Policyholder Services | 3.33yrs | no data | no data | |
| Senior VP & Controller | 1.42yrs | no data | no data | |
| Senior Vice President of Safety Operations | 1.67yrs | no data | no data |
5.5yrs
Average Tenure
54yo
Average Age
Experienced Management: AMSF's management team is seasoned and experienced (5.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 5.92yrs | US$2.19m | 0.33% $ 3.8m | |
| Independent Director | 1yr | US$20.00k | 0.0048% $ 55.5k | |
| Independent Director | 11.17yrs | US$128.99k | 0.066% $ 770.5k | |
| Independent Director | 5.17yrs | US$110.99k | 0.024% $ 276.4k | |
| Independent Chairman | 4.92yrs | US$163.99k | 0.39% $ 4.6m | |
| Independent Director | 14yrs | US$117.99k | 0.049% $ 567.6k | |
| Independent Director | 13.75yrs | US$107.49k | 0.57% $ 6.6m | |
| Independent Director | 6.33yrs | US$118.99k | 0.028% $ 321.5k |
5.8yrs
Average Tenure
60yo
Average Age
Experienced Board: AMSF's board of directors are considered experienced (5.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
AMERISAFE, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: AMERISAFE, Inc.
- Ticker: AMSF
- Exchange: NasdaqGS
- Founded: 1985
- Industry: Property and Casualty Insurance
- Sector: Insurance
- Market Cap: US$1.160b
- Shares outstanding: 19.33m
- Website: https://www.amerisafe.com
Number of Employees
Location
- AMERISAFE, Inc.
- 2301 Highway 190 West
- DeRidder
- Louisiana
- 70634-6004
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| AMSF | NasdaqGS (Nasdaq Global Select) | Yes | Voting Common Stock | US | USD | Nov 2005 |
| A3I | DB (Deutsche Boerse AG) | Yes | Voting Common Stock | DE | EUR | Nov 2005 |
Biography
AMERISAFE, Inc., an insurance holding company, underwrites workers’ compensation insurance in the United States. Its workers’ compensation insurance policies provide benefits to injured employees for tempo...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/04 23:23 |
| End of Day Share Price | 2021/03/04 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.