Question 1

What is AMERISAFE's EV/EBITDA ratio?

Accepted Answer

AMERISAFE (AMSF) EV/EBITDA ratio is 8.8× as of July 22, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for AMERISAFE?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For AMERISAFE specifically, the relevant sector benchmark is the current sector median of 10.2×.

Question 5

Is AMERISAFE's EV/EBITDA ratio high or low?

Accepted Answer

AMERISAFE's EV/EBITDA ratio of 8.8× is below its own 5-year average of 11.7× and below the sector median of 10.2×. That places the current reading at the 19th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is AMERISAFE's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, AMERISAFE (AMSF) EV/EBITDA ratio has ranged from a low of -15.4× in 2011 to a high of 90.0× in 2000. The 5-year average is 11.7× and the 5-year median is 11.2×.

Question 7

What was AMERISAFE's EV/EBITDA ratio in 2025?

Accepted Answer

AMERISAFE (AMSF) EV/EBITDA ratio at the end of 2025 was 9.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does AMERISAFE's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$725M	$59.6M	9.7×	-2.5×	Dec 31, 2025
2024	$983M	$70.1M	12.2×	+1.2×	Dec 31, 2024
2023	$901M	$78.8M	10.9×	-2.6×	Dec 31, 2023
2022	$994M	$69M	13.5×	+1.5×	Dec 31, 2022
2021	$1.04B	$80.5M	12.1×	+2.4×	Dec 31, 2021
2020	$1.11B	$108M	9.7×	-0.8×	Dec 31, 2020
2019	$1.27B	$116M	10.5×	-1.3×	Dec 31, 2019
2018	$1.09B	$88.6M	11.8×	-1.7×	Dec 31, 2018
2017	$1.18B	$83.2M	13.5×	+3.1×	Dec 31, 2017
2016	$1.19B	$114M	10.5×	+1.7×	Dec 31, 2016
2015	$969M	$102M	8.8×	-0.6×	Dec 31, 2015
2014	$795M	$75M	9.4×	-1.5×	Dec 31, 2014
2013	$780M	$60.5M	10.9×	+0.5×	Dec 31, 2013
2012	$496M	$38.8M	10.4×	-2.8×	Dec 31, 2012
2011	$422M	$26.9M	13.2×	+8.4×	Dec 31, 2011
2010	$319M	$45M	4.8×	+0.8×	Dec 31, 2010
2009	$339M	$65.3M	3.9×	-0.9×	Dec 31, 2009
2008	$387M	$67.7M	4.8×	+1.2×	Dec 31, 2008
2007	$292M	$77M	3.6×	-1.5×	Dec 31, 2007
2006	$289M	$58.3M	5.1×	-34.3×	Dec 31, 2006
2005	$175M	$4.12M	39.4×	—	Dec 31, 2005
1995	$189M	$0.00	—	—	Dec 31, 1995


Arch Capital Group (ACGL)	4.3×
M&T Bank (MTB)	3.8×
1st Source (SRCE)	3.5×
Allstate (ALL)	3.4×
Mercury General (MCY)	3.2×
AXIS Capital Holdings (AXS)	2.2×
Commerce Bancshares (CBSH)	2.2×
American International Group (AIG)	1.9×
United Bankshares (UBSI)	1.7×
Atlantic Union Bankshares (AUB)	1.1×
W. R. Berkley (WRB)	0.2×
KeyCorp (KEY)	-0.4×
Capital One Financial (COF)	-0.5×
Everest Group (EG)	-0.7×
Aflac (AFL)	-1.1×
Northern Trust (NTRS)	-2.6×
Regions Financial (RF)	-3.1×
Principal Financial Group (PFG)	-4.1×
Fifth Third Bank (FITB)	-4.4×
JPMorgan Chase (JPM)	-5.2×
BancFirst (BANF)	-5.5×
Wells Fargo (WFC)	-6.9×
Ames National (ATLO)	-16.7×
Apollo Global Management (APO)	-17.2×
MetLife (MET)	-46.3×

EV/EBITDA for AMERISAFE (AMSF) 2005-2026

EV/EBITDA daily chart for AMERISAFE (AMSF)

Historical EV/EBITDA for AMERISAFE (AMSF) from 1995 to 2025

About EV/EBITDA at AMERISAFE (AMSF)

AMERISAFE EV/EBITDA by Year

AMERISAFE EV/EBITDA 2025: 9.7×

AMERISAFE EV/EBITDA 2024: 12.2×

AMERISAFE EV/EBITDA 2023: 10.9×

AMERISAFE EV/EBITDA 2022: 13.5×

AMERISAFE EV/EBITDA 2021: 12.1×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

AMERISAFE (AMSF) Key Financials