AMERISAFE (AMSF) financial statements
AMERISAFE reported revenue of $317M in fiscal 2025, down 2.5% a year over 9 years.
Net income was $47M and the operating margin 18.6%, against 28.4% in 2016.
Free cash flow was $9M, and the company returned $49M in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from AMERISAFE's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $397M | $375M | $378M | $370M | $339M | $316M | $295M | $307M | $309M | $317M |
| Operating income | $113M | $82M | $88M | $116M | $107M | $79M | $68M | $77M | $69M | $59M |
| Pre-tax income | $113M | $82M | $88M | $116M | $107M | $79M | $68M | $77M | $69M | $59M |
| Income tax | $35M | $36M | $16M | $23M | $20M | $14M | $12M | $15M | $14M | $12M |
| Net income | $78M | $46M | $72M | $93M | $87M | $66M | $56M | $62M | $55M | $47M |
| EPS (diluted) | $4.05 | $2.40 | $3.71 | $4.80 | $4.47 | $3.39 | $2.88 | $3.23 | $2.89 | $2.47 |
| Diluted shares | 19M | 19M | 19M | 19M | 19M | 19M | 19M | 19M | 19M | 19M |
| Operating margin | 28.4% | 21.9% | 23.2% | 31.2% | 31.5% | 25.1% | 23.0% | 25.2% | 22.3% | 18.6% |
| Net margin | 19.6% | 12.3% | 19.0% | 25.0% | 25.5% | 20.8% | 18.9% | 20.2% | 17.9% | 14.9% |
Balance sheet
Fiscal years, from AMERISAFE's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $89M | $81M | $55M | $44M | $62M | $71M | $61M | $39M | $44M | $62M |
| Receivables | $183M | $174M | $162M | $158M | $157M | $135M | $122M | $133M | $143M | $161M |
| Property, plant and equipment | $7M | $6M | $6M | $6M | $6M | $6M | $7M | $6M | $6M | $7M |
| Total assets | $1.5B | $1.5B | $1.5B | $1.5B | $1.5B | $1.4B | $1.3B | $1.2B | $1.2B | $1.1B |
| Total liabilities | $1.1B | $1.1B | $1.1B | $1.1B | $1.0B | $1.0B | $952M | $937M | $900M | $879M |
| Shareholders' equity | $456M | $425M | $410M | $430M | $439M | $399M | $317M | $292M | $257M | $252M |
| Net debt | -$59M | -$56M | -$40M | -$44M | -$62M | -$71M | -$61M | -$39M | -$44M | -$62M |
Cash flow
Fiscal years, from AMERISAFE's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $114M | $131M | $98M | $79M | $63M | $38M | $28M | $30M | $24M | $11M |
| Capital spending | $2M | $478,000 | $1M | $1M | $921,000 | $1M | $2M | $553,000 | $840,000 | $2M |
| Free cash flow | $113M | $130M | $97M | $78M | $62M | $37M | $26M | $29M | $23M | $9M |
| Stock-based compensation | $2M | $2M | $2M | $2M | $3M | $2M | $2M | $2M | $3M | $3M |
| Dividends paid | $76M | $83M | $84M | $87M | $89M | $100M | $100M | $93M | $85M | $49M |
| Share buybacks (net) | — | — | — | — | — | — | -$12M | -$2M | — | — |
| Free cash flow margin | 28.4% | 34.7% | 25.7% | 21.0% | 18.4% | 11.6% | 8.9% | 9.5% | 7.6% | 2.8% |
| Dividends per share | $3.96 | $4.29 | $4.38 | $4.50 | $4.58 | $5.15 | $5.20 | $4.85 | $4.46 | $2.55 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for AMSF.
Open AMSF in InvestinglyQuestions
What was AMERISAFE's revenue in 2025?
$317M in fiscal 2025, from its 10-K filing.
How much free cash flow does AMERISAFE generate?
$9M in fiscal 2025 (operating cash flow minus capital spending).
From AMERISAFE's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.