Amerisafe
Market Cap
US$1.4b
Last Updated
2020/02/18 00:01 UTC
Data Sources
Company Financials +
Executive Summary
AMERISAFE, Inc., an insurance holding company, underwrites workers’ compensation insurance in the United States.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -17% per year for the next 3 years
Snowflake Analysis
Solid track record second-rate dividend payer.
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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.0%
AMSF
0.2%
US Insurance
0.9%
US Market
1 Year Return
8.9%
AMSF
19.2%
US Insurance
20.0%
US Market
Return vs Industry: AMSF underperformed the US Insurance industry which returned 19.2% over the past year.
Return vs Market: AMSF underperformed the US Market which returned 20.1% over the past year.
Shareholder returns
| AMSF | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.0% | 0.2% | 0.9% |
| 30 Day | 2.1% | 3.3% | 1.4% |
| 90 Day | 3.7% | 6.7% | 8.8% |
| 1 Year | 16.3%8.9% | 22.0%19.2% | 22.5%20.0% |
| 3 Year | 31.7%7.3% | 37.2%26.7% | 49.9%40.3% |
| 5 Year | 128.3%62.7% | 74.3%53.5% | 73.2%54.1% |
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
1 week ago | Simply Wall St
Should Amerisafe (NASDAQ:AMSF) Be Disappointed With Their 56% Profit?4 weeks ago | Simply Wall St
Why Amerisafe, Inc. (NASDAQ:AMSF) Looks Like A Quality Company1 month ago | Simply Wall St
Is Amerisafe, Inc.'s (NASDAQ:AMSF) CEO Pay Fair?Valuation
Is Amerisafe undervalued compared to its fair value and its price relative to the market?
17.39x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: AMSF ($70.04) is trading above our estimate of fair value ($66.81)
Significantly Below Fair Value: AMSF is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: AMSF is poor value based on its PE Ratio (17.4x) compared to the Insurance industry average (14x).
PE vs Market: AMSF is good value based on its PE Ratio (17.4x) compared to the US market (18.4x).
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 (2.9x) compared to the US Insurance industry average (1.2x).
Next Steps
Future Growth
How is Amerisafe forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
-17.0%
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 (-17% per year).
Earnings vs Market: AMSF's earnings are forecast to decline over the next 3 years (-17% 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 (-4.3% per year).
High Growth Revenue: AMSF's revenue is forecast to decline over the next 3 years (-4.3% 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 (12%).
Next Steps
Past Performance
How has Amerisafe performed over the past 5 years?
1.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AMSF has high quality earnings.
Growing Profit Margin: AMSF's current net profit margins (20.8%) are higher than last year (14.1%).
Past Earnings Growth Analysis
Earnings Trend: AMSF's earnings have grown by 1.6% per year over the past 5 years.
Accelerating Growth: AMSF's earnings growth over the past year (44.9%) exceeds its 5-year average (1.6% per year).
Earnings vs Industry: AMSF earnings growth over the past year (44.9%) exceeded the Insurance industry 22%.
Return on Equity
High ROE: AMSF's Return on Equity (16.5%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Amerisafe's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: AMSF has a low level of unsold assets or inventory.
Debt Coverage by Assets: AMSF's debt is not covered by short term assets (assets are -9165x debt).
Financial Institutions Analysis
Asset Level: AMSF's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if AMSF has a sufficient allowance for bad loans.
Low Risk Liabilities: AMSF reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if AMSF has an acceptable proportion of non-loan assets held.
Low Risk Deposits: AMSF has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if AMSF has an appropriate level of bad loans.
Next Steps
Dividend
What is Amerisafe's current dividend yield, its reliability and sustainability?
6.42%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: AMSF's dividend (6.42%) is higher than the bottom 25% of dividend payers in the US market (1.44%).
High Dividend: AMSF's dividend (6.42%) 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 7 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: AMSF's dividends in 3 years are not forecast to be well covered by earnings (134.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.8yrs
Average management tenure
CEO
Gerry Frost (48yo)
4.8yrs
Tenure
US$1,783,044
Compensation
Ms. Gerry Janelle Frost has served as Chief Executive Officer since April 2015 and President since September 2013 of AMERISAFE Inc and American Interstate Insurance Company of Texas. She has served as a Di ...
CEO Compensation Analysis
Compensation vs Market: Gerry's total compensation ($USD1.78M) is below average for companies of similar size in the US market ($USD3.78M).
Compensation vs Earnings: Gerry's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 4.8yrs | US$1.78m | 0.31% $4.1m | |
| Executive VP & CFO | 4.4yrs | US$847.39k | 0.095% $1.3m | |
| Executive VP | 7.8yrs | US$534.32k | 0.058% $780.3k | |
| Executive VP & Chief Risk Officer | 10.4yrs | US$608.80k | 0.087% $1.2m | |
| Senior Vice President of Sales & Marketing | 4.8yrs | no data | no data | |
| Senior Vice President of Claims Operations | 19.4yrs | no data | no data | |
| Senior Vice President of Recruitment and Development | 14.9yrs | no data | no data | |
| Senior Vice President of Policyholder Services | 2.3yrs | no data | no data | |
| Senior VP & Controller | 0.3yrs | no data | no data | |
| Executive VP & Chief Underwriting Officer | 0.8yrs | no data | 0.047% $630.4k |
4.8yrs
Average Tenure
50.5yo
Average Age
Experienced Management: AMSF's management team is considered experienced (4.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 4.8yrs | US$1.78m | 0.31% $4.1m | |
| Independent Director | 10.1yrs | US$129.00k | 0.063% $848.8k | |
| Director | 4.1yrs | US$111.00k | 0.020% $271.9k | |
| Chairman of the Board | 3.8yrs | US$163.00k | 0.39% $5.3m | |
| Independent Director | 12.9yrs | US$117.00k | 0.045% $611.9k | |
| Independent Director | 12.7yrs | US$107.50k | 0.57% $7.6m | |
| Independent Director | 5.3yrs | US$119.00k | 0.024% $324.7k |
5.3yrs
Average Tenure
63yo
Average Age
Experienced Board: AMSF's board of directors are considered experienced (5.3 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$1.351b
- Shares outstanding: 19.29m
- Website: https://www.amerisafe.com
Number of Employees
Location
- Amerisafe, Inc.
- 2301 Highway 190 West
- DeRidder
- Louisiana
- 70634
- 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 temporary or permanent disability, death, and medical and hospital expenses. The company provides workers’ compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, agriculture, maritime, and oil and gas. The company was incorporated in 1985 and is based in DeRidder, Louisiana.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/18 00:01 |
| End of Day Share Price | 2020/02/14 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.