Financial Statements

AMERISAFE, Inc. (AMSF)

$50.17

+0.48 (+0.97%)

Cash Flow Statement

All numbers are in thousands
Year XLSX
2023
XLSX
2022
XLSX
2021
XLSX
2020
XLSX
2019
Operating Cash Flow 29,84228,19437,97963,39878,824
Net Income 62,10855,60265,75686,60292,690
Depreciation & Amortization 1,4271,3091,0171,012942
Deferred income taxes 628-1,1361,2701,657872
Stock-based compensation 1,5572,4792,3203,2962,351
Change in working capital -31,041-41,499-27,142-32,041-22,015
Other non-cash items -4,83711,439-5,2422,8723,984
Investing Cash Flow 43,88475,42670,95943,37111,688
Investments in PPE -553-2,089-1,296-921-1,018
Acquisitions --85,00623-104,564-159,702
Investment purchases -133,678-215,480-271,182-320,947-345,904
Sales/Maturities of investments 178,115292,995343,414365,239358,610
Other Investing Activites -85,006-104,564159,702
Financing Cash Flow -96,513-112,873-99,973-88,825-87,043
Debt repayment -91-58-44-50-47
Dividends payments -93,307-100,427-99,929-88,775-87,016
Common Stock Repurchased -2,171-12,388---20
Common Stock Issuance -12,446--20
Other Financing Activites -944-12,446--20
Accounts receivables -8,48513,38721,6601,1934,525
Accounts payables 306969-2,244-6,750-5,023
Inventory -19,122--31,981-24,007-37,610
Other working capital -3,740-55,855-14,577-2,47716,093
Cash at beginning of period 61,46970,72261,75743,81340,344
Cash at end of period 38,68261,46970,72261,75743,813
Capital Expenditure -553-2,089-1,296-921-1,018
Net cash flow / Change in cash -22,787-9,2538,96517,9443,469
Free Cash Flow 29,28926,10536,68362,47777,806

AMERISAFE, Inc. income statement is the only one that provides an overview of company sales and net income
The reasoning behind the adjustment, however, is that free cash flow is meant to measure money being spent right now, not transactions that happened in the past. This makes AMERISAFE, Inc. FCF a useful instrument for identifying growing companies with high up-front costs, which may eat into earnings now but have the potential to pay off later.