AMERISAFE, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $47.1M | $55.4M | $62.1M | $55.6M | $65.8M | $86.6M | $92.7M | $71.6M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $742.0K | $1.1M | $1.4M | $1.3M | $1.0M | $1.0M | $942.0K | $996.0K |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $2.9M | $2.9M | $1.6M | $2.5M | $2.3M | $3.3M | $2.4M | $2.1M |
| Net Cash from Operating Activities | $11.1M | $24.2M | $29.8M | $28.2M | $38.0M | $63.4M | $78.8M | $98.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $2.1M | $840.0K | $553.0K | $2.1M | $1.3M | $921.0K | $1.0M | $1.1M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $68.4M | $72.4M | $43.9M | $75.4M | $71.0M | $43.4M | $11.7M | $-29.1M |
| Financing Activities | ||||||||
| Dividends Paid | $62.7M | $71.0M | $56.0M | $77.7M | $148.4M | $88.6M | $115.9M | $65.4M |
| Stock Repurchases | — | — | $2.2M | $12.4M | — | — | — | — |
| Net Cash from Financing Activities | $-61.6M | $-91.2M | $-96.5M | $-112.9M | $-100.0M | $-88.8M | $-87.0M | $-84.4M |
| Net Change in Cash | $17.9M | $5.4M | $-22.8M | $-9.3M | $9.0M | $17.9M | $3.5M | $-15.2M |
| Free Cash Flow | $8.9M | $23.4M | $29.3M | $26.1M | $36.7M | $62.5M | $77.8M | $97.1M |