AMERISAFE INC Earnings Per Share Disclosure
The Company computes EPS in accordance with ASC Topic 260, Earnings Per Share. The Company has no participating unvested common shares which contain nonforfeitable rights to dividends and applies the treasury stock method in computing basic and diluted earnings per share.
Basic EPS is calculated by dividing net income by the weighted average number of common shares outstanding during the period.
The diluted EPS calculation includes potential common shares assumed issued under the treasury stock method, which reflects the potential dilution that would occur if any outstanding options were exercised or restricted stock becomes vested.
The calculation of basic and diluted EPS for the years ended December 31, 2025, 2024 and 2023 are presented below.
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For the Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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(in thousands, except earnings per share amounts) |
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Basic EPS: |
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Net income – basic |
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$ |
47,145 |
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$ |
55,436 |
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$ |
62,108 |
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Basic weighted average common shares |
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18,979 |
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19,071 |
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19,149 |
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Basic earnings per share |
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$ |
2.48 |
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$ |
2.91 |
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$ |
3.24 |
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Diluted EPS: |
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Net income – diluted |
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$ |
47,145 |
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$ |
55,436 |
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$ |
62,108 |
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Diluted weighted average common shares: |
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Weighted average common shares |
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18,979 |
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19,071 |
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19,149 |
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Restricted stock and RSUs |
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103 |
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89 |
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77 |
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Diluted weighted average common shares |
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19,082 |
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19,160 |
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19,226 |
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Diluted earnings per common share |
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$ |
2.47 |
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$ |
2.89 |
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$ |
3.23 |
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The table below sets forth the reconciliation of the weighted average shares used for the basic and diluted EPS calculation.
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Years Ended |
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2025 |
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2024 |
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2023 |
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Basic weighted average common shares |
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18,979,465 |
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19,070,717 |
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19,149,080 |
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Add: Other common shares eligible for common dividends: |
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Restricted stock and RSUs |
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102,677 |
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89,088 |
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76,941 |
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Diluted weighted average common shares |
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19,082,142 |
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19,159,805 |
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19,226,021 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 21, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 25, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 26, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.