Stock fact sheet · data as of
AMERISAFE, Inc. (AMSF): fair value, margin of safety and Wheel Score
Ticker symbol AMSF · Financial Services · Insurance - Specialty · United States · Value Quality Income
Is AMSF undervalued?
AMSF closed at 20.34 on 5 Nov 2026, 22% below the GLS average fair value of 25.98 from 9 models (6 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" Wheel Trade Filter, with room for a bigger discount on the Value part.
There is a wide gap between GLS Growth (6.38) and DCF (59.01). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, AMSF is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 61, growth score 25, out of 100). It also carries the Quality and Income tags (Quality = moat 7.5+ out of 10 and Piotroski 7+; Income = a dividend yield of 4% or more).
Nine valuation models for AMSF
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 59.01 | +190% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 25.07 | +23% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 35.16 | +73% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 8.72 | -57% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 6.38 | -69% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 23.93 | +18% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 12.76 | -37% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 38.55 | +90% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 24.22 | +19% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -24.31 | -220% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 33.50 | +65% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
AMERISAFE, Inc. scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. A GLS Moat score of 8.1/10 puts AMSF among the more durable businesses we track: over up to ten years its returns on capital have stayed high, its margins steady and its balance sheet sound.
Returns on capital are high - ROIC 18.7%, ROE 18.7%, ROA 4.2% - with debt at 0.00 times equity and a free-cash-flow yield of 3.3%.
The dividend yield is high at 12.88% (payout ratio 122%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 18.7% |
|---|---|---|---|
| GLS Moat | 8.1 / 10 | ROE | 18.7% |
| Debt / equity | 0.00 | ROA | 4.2% |
| Free-cash-flow yield | 3.3% | Payout ratio | 122% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 45: Weak
With a Wheel Score of 45 AMERISAFE, Inc. sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (83 open interest, 47 a day); and filter 8, big enough - market cap $377M (under $1.0B); Option trading (weak) is its weakest part.
Implied volatility is 42% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 83 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 370k shares a day on a market cap of $377M, with a beta of 0.26 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (83 open interest, 47 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $377M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Good | 22% below fair value | |
| Premium | Strong | implied volatility 42% | |
| Moat | Strong | moat 8.1/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Weak | Red Flags score 62/100 | |
| Option trading | Weak | 47 contracts a day, 83 open interest | |
| Stability | Fair | beta 0.26, $377M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for AMSF in the nightly calendar. The shares go ex-dividend on 4 Dec 2026 (0.4100 per share), so a covered call sold before then carries a small early-assignment risk around that date.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Insurance - Specialty
The 12 companies below are the closest to AMERISAFE, Inc. by market cap within the Insurance - Specialty industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| ITIC Investors Title Company | 268.89 | 319.62 | +16% | 29No options | $508M |
| OSG Octave Specialty Group, Inc. | 5.22 | 9.54 | +45% | 40Weak | $235M |
| MBI MBIA Inc. | 4.52 | - | - | 25Weak | $231M |
| TIPT Tiptree Inc. | 17.95 | 260.65 | +93% | 46Weak | $654M |
| JRVR James River Group Holdings, Ltd. | 3.95 | 16.02 | +75% | 30Weak | $183M |
| EIG Employers Holdings, Inc. | 47.58 | 29.35 | -62% | 32Weak | $834M |
| AGO Assured Guaranty Ltd. | 72.51 | 187.86 | +61% | 44Weak | $3.2B |
| NMIH NMI Holdings, Inc. | 43.96 | 98.38 | +55% | 54Fair | $3.3B |
| RDN Radian Group Inc. | 36.59 | 82.19 | +55% | 82Good | $4.8B |
| MTG MGIC Investment Corporation | 29.13 | 48.62 | +40% | 82Good | $6.0B |
| ESNT Essent Group Ltd. | 69.34 | 106.71 | +35% | 51Fair | $6.2B |
| ACT Enact Holdings Inc. | 48.24 | 66.67 | +28% | 53Fair | $6.6B |
⚖ Compare AMSF with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about AMSF
Is AMSF undervalued right now?
By the GLS models, moderately: at 20.34 the stock trades 22% below the average fair value of 25.98 (data as of 5 Nov 2026).
What is the Wheel Score of AMSF and what does it mean?
AMSF scores 45 out of 100 (Weak) - it fails Wheel Trade Filters 1, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for AMSF?
25.98 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does AMERISAFE, Inc. report earnings next?
No upcoming earnings date is recorded for AMSF in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does AMSF have listed options, and how liquid are they?
Yes. The nightly snapshot found 32 listed contracts with 83 open interest across all expiries and implied volatility of 42% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.