AMERISAFE Inc. Common Stock (AMSF)

FairStock Score: 57/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach AMERISAFE as a specialist insurer, not a compounder. It writes workers compensation for small and mid-sized employers in hazardous niches such as construction, trucking, logging, agriculture, and maritime. That niche can support underwriting discipline and broker relationships, but it is not a wide moat; one bad accident year or a soft pricing cycle can hurt results. The filed numbers are mixed. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $92.0M, net income $14.6M, and diluted EPS $0.78, better than fiscal Q2 2025, the quarter ended 2025-06-30, when revenue was $81.1M, net income $14.0M, and diluted EPS $0.73. But the longer record is weaker: fiscal 2025, the year ended 2025-12-31, had net income of $47.1M and diluted EPS of $2.47, down from fiscal 2024, the year ended 2024-12-31, at $55.4M and $2.89, and fiscal 2023, the year ended 2023-12-31, at $62.1M and $3.23. FairStock's Lynch category is Slow Grower - Shrinking, with five-year profit down about 11.5% a year and revenue down 1.3% a year. At the 2026-10-13 close of $24.65, FairStock calculates a P/E of 9.94, P/B of 1.83, ROE of 18.23%, ROCE of 3.21%, dividend yield of 6.65%, PEG of 2.17, Piotroski F-Score of 5/9, and FairStock Score of 57/100. A high dividend and low beta may support the price, but the low P/E partly reflects a shrinking, cyclical business. Missing combined ratio, CET1, and NIM prevent a full underwriting and balance-sheet assessment. I see a modestly cheap specialist insurer with decent current returns, but not a clear bargain unless underwriting and earnings stabilize.

In plain English: AMERISAFE sells workers compensation insurance to small and mid-sized employers in risky industries like construction, trucking, and logging. Its latest quarter showed more sales and steady profit, but over the last several years sales and profit have generally moved lower. The stock looks inexpensive compared with its recent earnings and pays a large dividend, though the weak long-term record makes it less clearly a bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer