MARKETS / NASDAQ / AMSF

NASDAQ · FIRE, MARINE & CASUALTY INSURANCE · LARGE CAP

Amerisafe Inc. AMSF

17 fiscal years on record · USD · FY2025 reported · SEC filings only

12 YEARS OF DIVIDEND GROWTH

Revenue

$317.3M

▲ 2.7% YoY

Net income

$47.1M

▼ 15.0% YoY

Free cash flow

$8.9M

▼ 61.8% YoY

In brief

What this company does

AMERISAFE, Inc. is a specialty provider of workers' compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, agriculture, services, manufacturing, and maritime. The company markets its insurance in 27 states and is licensed in an additional 20 states, the District of Columbia and the U.S. Virgin Islands. As of December 31, 2025, the company had more than 10,200 voluntary business policyholders, and its ten largest voluntary business policyholders accounted for 2.1% of its in-force premiums. The company conducts business through three insurance subsidiaries: American Interstate Insurance Company and Silver Oak Casualty, Inc., both domiciled in Nebraska, and American Interstate Insurance Company of Texas, domiciled in Texas. AMERISAFE is an insurance holding company incorporated in Texas in 1985, and it began operations in 1986 by focusing on workers' compensation insurance for logging contractors in the southeast U.S.

Written from the business description in AMERISAFE, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth

USD 317.3M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 317.3 · Net income 47.1

Compound annual growth

Revenue

+2.5%

−1.3%

−2.3%

+1.7%

Net income

−5.4%

−11.5%

−3.9%

+2.1%

EPS, diluted

−5.0%

−11.2%

−3.9%

+2.1%

Dividend / share

+8.0%

+7.6%

+10.0%

Returned to shareholders

−24.5%

−11.3%

−3.4%

+10.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at −1.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

15 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 18.6% · Net 14.9%

ROE

FY2025 · ROE 18.5%

Gross margin—

Operating margin18.6%

Net margin14.9%

Return on assets4.1%

EBITDAUSD 59.6M

Each USD of equity produced 19 cents of profit this year.

Cash & shareholders

USD 48.6M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 8.9

Net buybacks $M Dividends $M

FY2025 · Dividends 48.6 · Net buybacks —

Dividends paidUSD 48.6M

Net buybacks—

Share of profit103.1%

Consecutive raises12 years

USD 48.6M in dividends — 103% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 1.1B

EquityUSD 251.6M

CashUSD 61.9M

Equity funds 22% of total assets.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	0.3	0.3	0.3	0.3	0.3	0.3	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.3	0.3	0.2	0.3
Operating income $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	·	·
EBITDA $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	·	·	·	·
Income tax $B	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
Net income $B	0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0
Free cash flow $B	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0
EPS, diluted $	2.47	2.89	3.23	2.88	3.39	4.47	4.80	3.71	2.40	4.05	3.69	2.84	2.32	1.58	1.29	1.81	2.28
Dividend / sh $	1.56	1.48	1.36	1.24	1.16	1.08	1.00	0.88	0.80	0.72	0.60	0.48	0.32	·	·	·	·
Payout %	103	154	150	181	152	103	94	118	179	98	97	69	14	72	132	·	·
ROE %	18.5	20.2	20.4	15.5	15.7	19.9	22.1	17.2	10.5	17.1	15.6	12.4	10.9	8.0	7.1	10.9	16.9
Shares out B	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.00	0.00	0.02	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures · 1 divergences in 51 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 6 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures1 divergent

ActivityFire, Marine & Casualty Insurance

Listed onNASDAQ

Incorporated inTexas

Fiscal year endsDecember 31

Data on record since2008