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Side-by-side financial comparison of AMERISAFE INC (AMSF) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
AMERISAFE INC is the larger business by last-quarter revenue ($80.1M vs $58.0M, roughly 1.4× indie Semiconductor, Inc.). AMERISAFE INC runs the higher net margin — 10.2% vs -53.8%, a 64.0% gap on every dollar of revenue. On growth, AMERISAFE INC posted the faster year-over-year revenue change (10.3% vs -0.0%). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% CAGR vs 2.8%).
AMERISAFE Inc. is a specialty insurance provider that focuses exclusively on workers' compensation coverage for small and mid-sized businesses in high-hazard industries including construction, logging, trucking, and manufacturing. It operates across 49 U.S. states, offering tailored insurance policies paired with targeted risk management support for clients.
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
AMSF vs INDI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $80.1M | $58.0M |
| Net Profit | $8.1M | $-31.2M |
| Gross Margin | — | 37.3% |
| Operating Margin | — | -58.5% |
| Net Margin | 10.2% | -53.8% |
| Revenue YoY | 10.3% | -0.0% |
| Net Profit YoY | -9.0% | 9.1% |
| EPS (diluted) | $0.43 | $-0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $80.1M | — | ||
| Q4 25 | $81.6M | $58.0M | ||
| Q3 25 | $82.0M | $53.7M | ||
| Q2 25 | $81.1M | $51.6M | ||
| Q1 25 | $72.6M | $54.1M | ||
| Q4 24 | $74.0M | $58.0M | ||
| Q3 24 | $78.7M | $54.0M | ||
| Q2 24 | $75.8M | $52.4M |
| Q1 26 | $8.1M | — | ||
| Q4 25 | $10.4M | $-31.2M | ||
| Q3 25 | $13.8M | $-38.3M | ||
| Q2 25 | $14.0M | $-39.0M | ||
| Q1 25 | $8.9M | $-34.5M | ||
| Q4 24 | $13.2M | $-34.4M | ||
| Q3 24 | $14.3M | $-49.7M | ||
| Q2 24 | $11.0M | $-19.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 37.3% | ||
| Q3 25 | — | 40.1% | ||
| Q2 25 | — | 40.6% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 39.3% | ||
| Q2 24 | — | 42.2% |
| Q1 26 | — | — | ||
| Q4 25 | 15.6% | -58.5% | ||
| Q3 25 | 21.3% | -71.4% | ||
| Q2 25 | 21.5% | -83.3% | ||
| Q1 25 | 15.5% | -72.0% | ||
| Q4 24 | 22.7% | -58.4% | ||
| Q3 24 | 22.6% | -92.5% | ||
| Q2 24 | 18.1% | -70.0% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | 12.8% | -53.8% | ||
| Q3 25 | 16.9% | -71.3% | ||
| Q2 25 | 17.2% | -75.6% | ||
| Q1 25 | 12.3% | -63.9% | ||
| Q4 24 | 17.8% | -59.2% | ||
| Q3 24 | 18.2% | -92.1% | ||
| Q2 24 | 14.5% | -36.6% |
| Q1 26 | $0.43 | — | ||
| Q4 25 | $0.55 | $-0.16 | ||
| Q3 25 | $0.72 | $-0.19 | ||
| Q2 25 | $0.73 | $-0.20 | ||
| Q1 25 | $0.47 | $-0.18 | ||
| Q4 24 | $0.69 | $-0.18 | ||
| Q3 24 | $0.75 | $-0.28 | ||
| Q2 24 | $0.57 | $-0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.2M | $145.5M |
| Total DebtLower is stronger | — | $353.4M |
| Stockholders' EquityBook value | $246.6M | $358.0M |
| Total Assets | — | $840.8M |
| Debt / EquityLower = less leverage | — | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.2M | — | ||
| Q4 25 | $61.9M | $145.5M | ||
| Q3 25 | $54.7M | $160.9M | ||
| Q2 25 | $48.5M | $192.6M | ||
| Q1 25 | $44.8M | $236.6M | ||
| Q4 24 | $44.1M | $274.2M | ||
| Q3 24 | $63.7M | $96.9M | ||
| Q2 24 | $30.6M | $112.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $353.4M | ||
| Q3 25 | — | $353.5M | ||
| Q2 25 | — | $352.5M | ||
| Q1 25 | — | $379.0M | ||
| Q4 24 | — | $381.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $246.6M | — | ||
| Q4 25 | $251.6M | $358.0M | ||
| Q3 25 | $274.8M | $369.2M | ||
| Q2 25 | $265.6M | $390.4M | ||
| Q1 25 | $260.8M | $405.6M | ||
| Q4 24 | $257.3M | $417.9M | ||
| Q3 24 | $314.4M | $458.6M | ||
| Q2 24 | $301.0M | $470.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $840.8M | ||
| Q3 25 | $1.2B | $855.1M | ||
| Q2 25 | $1.2B | $867.6M | ||
| Q1 25 | $1.2B | $909.0M | ||
| Q4 24 | $1.2B | $941.4M | ||
| Q3 24 | $1.3B | $797.5M | ||
| Q2 24 | $1.2B | $797.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.99× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-14.4M |
| Free Cash FlowOCF − Capex | — | $-16.1M |
| FCF MarginFCF / Revenue | — | -27.8% |
| Capex IntensityCapex / Revenue | — | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-71.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $11.1M | $-14.4M | ||
| Q3 25 | $10.7M | $-6.2M | ||
| Q2 25 | $-8.4M | $-7.6M | ||
| Q1 25 | $-1.8M | $-29.0M | ||
| Q4 24 | $24.2M | $-6.7M | ||
| Q3 24 | $8.4M | $-22.8M | ||
| Q2 24 | $-2.6M | $-19.7M |
| Q1 26 | — | — | ||
| Q4 25 | $8.9M | $-16.1M | ||
| Q3 25 | $9.8M | $-10.3M | ||
| Q2 25 | $-9.5M | $-13.6M | ||
| Q1 25 | $-1.8M | $-31.4M | ||
| Q4 24 | $23.4M | $-8.6M | ||
| Q3 24 | $8.4M | $-29.3M | ||
| Q2 24 | $-2.6M | $-23.4M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | -27.8% | ||
| Q3 25 | 11.9% | -19.2% | ||
| Q2 25 | -11.7% | -26.4% | ||
| Q1 25 | -2.5% | -58.0% | ||
| Q4 24 | 31.5% | -14.8% | ||
| Q3 24 | 10.7% | -54.3% | ||
| Q2 24 | -3.5% | -44.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 3.0% | ||
| Q3 25 | 1.1% | 7.8% | ||
| Q2 25 | 1.3% | 11.6% | ||
| Q1 25 | 0.0% | 4.4% | ||
| Q4 24 | 1.1% | 3.2% | ||
| Q3 24 | 0.0% | 12.1% | ||
| Q2 24 | 0.1% | 7.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.06× | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | -0.61× | — | ||
| Q1 25 | -0.20× | — | ||
| Q4 24 | 1.83× | — | ||
| Q3 24 | 0.59× | — | ||
| Q2 24 | -0.24× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMSF
Segment breakdown not available.
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
