Amerisafe Inc. (AMSF) intrinsic value & 10-year financials
Amerisafe Inc. (AMSF) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 2.5% a year to $317.3M, with an average return on invested capital of 17.7%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $25.25
- Market cap
- $481.8M
- Revenue (FY2025)
- $317.3M
- Revenue growth (10-yr CAGR)
- -2.5%
- ROIC (10-yr avg)
- 17.7%
- Free cash flow (FY2025)
- $8.9M
AMSF 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $317.3M | $47.1M | $2.47 | $8.9M | — | 18.5% |
| FY2024 | $309.0M | $55.4M | $2.89 | $23.4M | — | 20.2% |
| FY2023 | $306.9M | $62.1M | $3.23 | $29.3M | — | 20.4% |
| FY2022 | $294.7M | $55.6M | $2.88 | $26.1M | — | 15.5% |
| FY2021 | $315.9M | $65.8M | $3.39 | $36.7M | — | 15.7% |
| FY2020 | $339.5M | $86.6M | $4.47 | $62.5M | — | 19.9% |
| FY2019 | $370.4M | $92.7M | $4.80 | $77.8M | — | 22.1% |
| FY2018 | $377.8M | $71.6M | $3.71 | $97.1M | — | 17.2% |
| FY2017 | $375.2M | $46.2M | $2.40 | $130.3M | — | 10.5% |
| FY2016 | $396.7M | $77.9M | $4.05 | $112.6M | — | 17.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
AMERISAFE INC is facing top-line stagnation, with revenue contracting over the decade.
AMERISAFE INC 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.
AMERISAFE INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, AMERISAFE INC is modeled at -5.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-4.69 per share.