Amerisafe Inc key statistics and ratios
In fiscal 2025, Amerisafe Inc had return on equity of 18.5%, a net margin of 14.9% and debt equal to 0.0% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net margin | 16.9% | 13.9% | 8.6% | 9.1% | 12.2% | 13.3% | 17.6% | 19.6% | 12.3% | 19.0% | 25.0% | 25.5% | 20.8% | 18.9% | 20.2% | 17.9% | 14.9% | 12.1% |
| Free-cash-flow margin | 9.3% | 16.8% | 15.2% | 24.9% | 35.9% | 34.6% | 22.9% | 28.4% | 34.7% | 25.7% | 21.0% | 18.4% | 11.6% | 8.9% | 9.5% | 7.6% | 2.8% | 3.7% |
| Return on equity | 15.5% | 10.9% | 7.1% | 8.0% | 10.9% | 12.4% | 15.6% | 17.1% | 10.5% | 17.2% | 22.1% | 19.9% | 15.7% | 15.5% | 20.4% | 20.2% | 18.5% | 16.5% |
| Return on assets | — | 3.1% | 2.1% | 2.5% | 3.4% | 3.9% | 4.8% | 5.2% | 3.0% | 4.7% | 6.2% | 5.8% | 4.6% | 4.2% | 5.0% | 4.6% | 4.1% | 3.6% |
| Asset turnover | — | 0.22 | 0.25 | 0.27 | 0.28 | 0.29 | 0.27 | 0.26 | 0.25 | 0.25 | 0.25 | 0.23 | 0.22 | 0.22 | 0.25 | 0.26 | 0.28 | 0.30 |
| Debt to equity | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Effective tax rate | 25.8% | 21.9% | 11.6% | 21.0% | 26.3% | 27.2% | 30.2% | 31.0% | 43.8% | 18.2% | 19.8% | 19.0% | 17.2% | 17.8% | 19.7% | 19.7% | 19.9% | 19.5% |
| Capital spending as % of revenue | 0.4% | 1.3% | 0.4% | 0.4% | 0.3% | 0.2% | 0.2% | 0.4% | 0.1% | 0.3% | 0.3% | 0.3% | 0.4% | 0.7% | 0.2% | 0.3% | 0.7% | 0.1% |
| Free cash flow ÷ net income | 55.3% | 120.6% | 176.1% | 272.0% | 293.4% | 260.3% | 130.4% | 144.6% | 281.9% | 135.6% | 83.9% | 72.1% | 55.8% | 46.9% | 47.2% | 42.1% | 18.9% | 30.5% |
| Dividends ÷ net income | — | — | 132.3% | 71.5% | 34.4% | 46.6% | 71.0% | 86.0% | 170.7% | 91.3% | 125.0% | 102.3% | 225.7% | 139.7% | 90.2% | 128.1% | 133.0% | 156.9% |
| Dividends and buybacks ÷ free cash flow | — | 29.1% | 99.3% | 26.3% | 11.7% | 17.9% | 54.4% | 59.5% | 60.5% | 67.3% | 149.0% | 141.8% | 404.5% | 345.1% | 198.6% | 304.1% | 702.8% | 513.8% |
Moat
Strong moat
How hard Amerisafe's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 20 / 20
Net income has been a median 4.6% of total assets over 10 years.
- Durability 15 / 20
Net margin has been a median 18.3%; its worst year was 12.1%.
- Discipline 18 / 20
The diluted share count fell 3.1% over five years; stock-based pay has been a median 0.7% of revenue.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (88 before it).
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