AMERISAFE (AMSF) Financial Statements & Analysis

AMERISAFE (AMSF) Income Statement

AMERISAFE reported revenue of $317.25M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 2.7% from $309.04M a year earlier. Net income was $47.15M, down 15.0% year over year, a net margin of 14.9%. Gross margin was 46.4% and operating margin 18.6%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $91.98M, up 13.4% from the same quarter a year earlier.

AMERISAFE Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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AMERISAFE, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	317.25	309.04	306.85	294.69	315.93	339.50	370.37	377.75	375.21
Cost of Revenue	169.94	157.27	148.26	152.32	160.80	0.00	201.35	231.05	234.14
Gross Profit	147.32	151.78	158.59	142.42	155.14	339.50	169.02	146.70	141.07
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	85.98	80.13	78.31	26.51	72.05	27.93	27.12	25.99	25.63
Operating Expenses	88.46	82.72	81.21	74.78	75.69	232.59	53.50	59.12	58.83
Operating Income	58.85	69.06	77.38	67.65	79.45	106.92	115.52	87.58	82.24
Other Income/Expense
Interest Income	26.99	29.21	31.34	27.22	25.44	0.00	0.00	0.00	0.00
Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Income/Expense	6.75	8.93	7.81	-4.65	1.70	0.00	0.00	0.00	0.00
Income
Income Before Tax	58.85	69.06	77.38	67.65	79.45	106.92	115.52	87.58	82.24
Income Tax Expense	11.71	13.62	15.27	12.04	13.69	20.32	22.83	15.95	36.01
Net Income	47.15	55.44	62.11	55.60	65.76	86.60	92.69	71.63	46.23
Net Income - Continuous Operations	47.15	55.44	62.11	55.60	65.76	86.60	92.69	71.63	46.23
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	59.59	70.15	78.80	68.96	80.47	107.93	116.46	88.58	83.22
EBIT	58.85	69.06	77.38	67.65	79.45	106.92	-	-	-
Depreciation & Amortization	0.74	1.09	1.43	1.31	1.02	1.01	0.94	1.00	0.98
Earnings Per Share
Basic EPS	2.00	3.00	3.00	3.00	3.00	4.00	5.00	4.00	2.00
Diluted EPS	2.00	3.00	3.00	3.00	3.00	4.00	5.00	4.00	2.00
Basic Shares Outstanding	18.98	19.07	19.15	19.23	19.33	19.29	19.25	19.21	19.17
Diluted Shares Outstanding	19.08	19.16	19.23	19.32	19.41	19.36	19.33	19.29	19.25

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About AMERISAFE Financial Statements

What was AMERISAFE's revenue in fiscal 2025?

AMERISAFE reported revenue of $317.25M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 2.7% from $309.04M a year earlier.

Is AMERISAFE profitable?

Yes. AMERISAFE earned net income of $47.15M in fiscal 2025, a net margin of 14.9%. In fiscal 2024 it earned $55.44M.

What is AMERISAFE's operating margin?

AMERISAFE's operating income was $58.85M on revenue of $317.25M in fiscal 2025, an operating margin of 18.6%, compared with 22.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition