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Amerisafe vs NI Holdings: AMSF and NODK compared
Amerisafe is the larger company: $79.8M of revenue in its latest quarter (Q3 2026) against $68.6M for NI Holdings (Q3 2026). Amerisafe is growing faster (-3% against -10% a year earlier). Amerisafe is more profitable, with an operating margin of 11.3% against 10.2%.
Where the money goes: AMSF and NODK
Amerisafe (AMSF) · Q3 2026
Amerisafe, Q3 2026: revenue $79.8M (-3% year over year), operating margin 11.3%, net earnings $7.2M, operating cash flow $2.8M. The chart follows the revenue to costs, profit and cash.
NI Holdings (NODK) · Q3 2026
NI Holdings, Q3 2026: revenue $68.6M (-10% year over year), operating margin 10.2%, net earnings $5.5M, operating cash flow −$15.1M. The chart follows the revenue to costs, profit and cash.
| Amerisafe (AMSF) | NI Holdings (NODK) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $79.8M | $68.6M |
| Revenue growth, Y/Y | -3% | -10% |
| Gross margin | — | 34.4% |
| Operating margin | 11.3% | 10.2% |
| Net earnings | $7.2M | $5.5M |
| Net margin | 9.0% | 8.1% |
| Operating cash flow | $2.8M | −$15.1M |
| Free cash flow | $2.8M | — |
| Market value | $455M | — |
| P/E | 11.4× | — |
| Analysts’ mean target | $31.00 | — |
Questions
Which is bigger, Amerisafe or NI Holdings?
Amerisafe is the larger company: $79.8M of revenue in its latest quarter (Q3 2026) against $68.6M for NI Holdings (Q3 2026).
Is Amerisafe or NI Holdings growing faster?
Amerisafe is growing faster (-3% against -10% a year earlier).
Which is more profitable, Amerisafe or NI Holdings?
Amerisafe is more profitable, with an operating margin of 11.3% against 10.2%.
More: Amerisafe earnings · how Amerisafe makes money · NI Holdings earnings · how NI Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.