company background image

National Security Group NasdaqGM:NSEC Stock Report

Last Price


Market Cap







21 May, 2022


Company Financials
NSEC fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance2/6
Financial Health3/6

NSEC Stock Overview

The National Security Group, Inc., an insurance holding company, provides insurance products and services in the United States.

National Security Group Competitors













Price History & Performance

Summary of all time highs, changes and price drops for National Security Group
Historical stock prices
Current Share PriceUS$16.32
52 Week HighUS$16.48
52 Week LowUS$8.91
1 Month Change0.12%
3 Month Change2.35%
1 Year Change44.36%
3 Year Change24.83%
5 Year Change7.79%
Change since IPO92.63%

Recent News & Updates

Shareholder Returns

NSECUS InsuranceUS Market

Return vs Industry: NSEC exceeded the US Insurance industry which returned -0.1% over the past year.

Return vs Market: NSEC exceeded the US Market which returned -12.7% over the past year.

Price Volatility

Is NSEC's price volatile compared to industry and market?
NSEC volatility
NSEC Average Weekly Movement1.1%
Insurance Industry Average Movement5.2%
Market Average Movement7.9%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.0%

Stable Share Price: NSEC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: NSEC's weekly volatility has decreased from 15% to 1% over the past year.

About the Company

194772Bill Brunson

The National Security Group, Inc., an insurance holding company, provides insurance products and services in the United States. It operates in two segments, Property and Casualty (P&C) Insurance, and Life Insurance. The P&C Insurance segment primarily underwrites home insurance coverage with primary lines of business consisting of dwelling fire and extended coverage, mobile homeowners, and other liability insurance in Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, Oklahoma, South Carolina, Tennessee, and West Virginia, as well as operates on a surplus lines basis in the state of Louisiana.

National Security Group Fundamentals Summary

How do National Security Group's earnings and revenue compare to its market cap?
NSEC fundamental statistics
Market CapUS$41.33m
Earnings (TTM)US$823.00k
Revenue (TTM)US$66.13m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NSEC income statement (TTM)
Cost of RevenueUS$52.30m
Gross ProfitUS$13.83m
Other ExpensesUS$13.01m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)0.32
Gross Margin20.91%
Net Profit Margin1.24%
Debt/Equity Ratio32.7%

How did NSEC perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


Is National Security Group undervalued compared to its fair value and its price relative to the market?

Valuation Score


Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate NSEC's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate NSEC's fair value for valuation analysis.

Price To Earnings Ratio

PE vs Industry: NSEC is poor value based on its PE Ratio (50.2x) compared to the US Insurance industry average (10.9x).

PE vs Market: NSEC is poor value based on its PE Ratio (50.2x) compared to the US market (15.5x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate NSEC's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: NSEC's PB Ratio (1x) is in line with the US Insurance industry average.

Future Growth

How is National Security Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted Insurance industry annual growth in earnings

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 National Security Group 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 SimplyWall St do have past financial data.

Past Performance

How has National Security Group performed over the past 5 years?

Past Performance Score


Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NSEC has high quality earnings.

Growing Profit Margin: NSEC became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: NSEC's earnings have declined by 32.5% per year over the past 5 years.

Accelerating Growth: NSEC has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: NSEC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Insurance industry (-2.6%).

Return on Equity

High ROE: NSEC's Return on Equity (2%) is considered low.

Financial Health

How is National Security Group's financial position?

Financial Health Score


Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: NSEC's short term assets ($31.6M) do not cover its short term liabilities ($46.0M).

Long Term Liabilities: NSEC's short term assets ($31.6M) do not cover its long term liabilities ($63.0M).

Debt to Equity History and Analysis

Debt Level: NSEC's net debt to equity ratio (0.2%) is considered satisfactory.

Reducing Debt: NSEC's debt to equity ratio has reduced from 36.6% to 32.7% over the past 5 years.

Debt Coverage: NSEC's debt is well covered by operating cash flow (25.3%).

Interest Coverage: NSEC's interest payments on its debt are not well covered by EBIT (2.8x coverage).

Balance Sheet


What is National Security Group current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 1/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: NSEC's dividend (1.47%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: NSEC's dividend (1.47%) is low compared to the top 25% of dividend payers in the US market (4.09%).

Stability and Growth of Payments

Stable Dividend: NSEC's dividend payments have been volatile in the past 10 years.

Growing Dividend: NSEC's dividend payments have fallen over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (74.2%), NSEC's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (18.6%), NSEC's dividend payments are well covered by cash flows.

Discover strong dividend paying companies


How experienced are the management team and are they aligned to shareholders interests?


Average board tenure


Bill Brunson (63 yo)





Mr. William Lister Brunson, Jr., also known as Bill, serves as a Director of National Security Group, Inc. since 1999 and as President and Chief Executive Officer of the National Security Group, Inc since...

CEO Compensation Analysis

Compensation vs Market: Bill's total compensation ($USD325.54K) is below average for companies of similar size in the US market ($USD771.97K).

Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.

Board Members

Experienced Board: NSEC's board of directors are seasoned and experienced ( 19.3 years average tenure).


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

The National Security Group, Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: The National Security Group, Inc.
  • Ticker: NSEC
  • Exchange: NasdaqGM
  • Founded: 1947
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Implied Market Cap: US$41.333m
  • Shares outstanding: 2.53m
  • Website:

Number of Employees


  • The National Security Group, Inc.
  • 661 East Davis Street
  • Elba
  • Alabama
  • 36323
  • United States


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/21 00:00
End of Day Share Price2022/05/20 00:00
Annual Earnings2021/12/31

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.