कंपनी का अवलोकन
AMERISAFE, Inc. operates as an insurance holding company that underwrites workers' compensation insurance throughout the United States, offering benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. The firm distributes these products via retail and wholesale brokerage channels to serve its specific niche within the broader financial services sector. As of the latest data, the company holds a market capitalization of $640.97M and generates annual revenue of $317.30M, though specific employee count data is not disclosed in the provided records. These valuation and revenue figures indicate that AMERISAFE maintains a significant presence in the specialty insurance industry, positioning it as a substantial entity within the market for workers' compensation coverage.
वित्तीय स्वास्थ्य
The company reported total revenue of $317.30M over the trailing twelve months, with net income of $47.15M and EBITDA reaching $59.59M. The gap between the $317.30M revenue and the $47.15M net income reveals a cost structure where operating expenses and claims costs consume a significant portion of gross receipts before arriving at the final profit. The business generated $37.76M in free cash flow, which indicates a strong capacity to fund operations, service debt, or return capital to shareholders without relying on external financing. Profitability is reflected in three key margins: a gross margin of 29.1%, an operating margin of 15.6%, and a profit margin of 14.9%, each signaling the efficiency of the company's production and administrative processes relative to its sales volume. The balance sheet appears conservative given that the company holds $76.16M in cash against a debt load of only $491,000, resulting in a low debt-to-equity ratio of 0.20. Liquidity is robust as evidenced by a current ratio of 2.04, suggesting the firm possesses more than double the current assets necessary to cover its short-term liabilities. Return metrics demonstrate that the company generated a return on equity of 18.5% and a return on assets of 3.2%, indicating that management is effective at generating high returns on shareholder capital while maintaining reasonable returns on the total asset base.
मूल्यांकन आकलन
Valuation metrics show a trailing P/E ratio of 13.71 compared to a forward P/E of 15.75, implying that the market expects earnings to potentially decrease or grow at a slower pace in the future, as the forward multiple is higher than the trailing multiple. The price-to-book ratio stands at 2.53, which indicates that the stock is trading at a premium of roughly 153% over its book value, reflecting investor confidence in the company's intangible assets and future earnings potential. Alternative valuation measures include a price-to-sales ratio of 2.02 and an EV/EBITDA of 9.40, suggesting the company is valued at roughly double its sales and at a moderate multiple of its earnings before interest, taxes, depreciation, and amortization. The stock has traded between a 52-week low of $32.00 and a 52-week high of $50.29, placing the current valuation context within this established historical range. The beta value of 0.34 signifies that the stock exhibits significantly lower price volatility than the broader market, moving only about one-third as much as the general market index.
Growth & Income
Growth dynamics are characterized by a revenue growth rate of 10.2% year-over-year contrasted with an earnings growth rate of -19.2% year-over-year. This divergence implies that while top-line sales are expanding, underlying profitability or earnings quality has deteriorated sharply, potentially due to rising claims costs, underwriting losses, or increased operating expenses that outpaced revenue growth. For income-focused investors, the company offers a dividend yield of 4.7% with a payout ratio of 63.2%, which suggests the dividend is funded from earnings but leaves less than 40% of net income retained for reinvestment or reserves. The relatively high payout ratio alongside negative earnings growth warrants scrutiny regarding the sustainability of the dividend relative to current profit levels. Overall, the company presents a mixed profile with solid revenue expansion and a generous dividend yield, yet it faces significant headwinds regarding earnings contraction that could impact future income stability.