ATLANTIC AMERICAN CORP AAME
Atlantic American Corporation, a Georgia corporation incorporated in 1968 (the "Parent" or "Company"), is a holding company that operates through its subsidiaries in
well-defined specialty markets within the life and health and property and casualty insurance industries. The Parent's principal operating subsidiaries are American Southern Insurance Company and American Safety Insurance Company (together known as
"American Southern") within the property and casualty insurance industry and Bankers Fidelity Life Insurance Company, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company (together known as "Bankers Fidelity") within the
life and health insurance industry. Each of American Southern and Bankers Fidelity is managed separately based upon the type of products it offers and is evaluated on its individual performance. The Company's strategy is to focus on well-defined
Valuation FY2024 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $188.2M | $186.8M | $187.9M | $199.6M | $195.3M | $198.2M | $185.6M | $181.1M | $166.1M | $165.9M |
| Operating income | -$5.0M | $1.5M | $9.6M | -$1.5M | $11.5M | -$7.5M | -$3.9M | -$3.8M | $929.0K | $851.0K |
| Interest expense | $3.4M | $3.3M | $2.0M | $1.4M | $1.6M | $2.1M | $2.0M | $1.7M | $1.6M | $1.4M |
| Pre-tax income | -$5.3M | -$565.0K | $2.1M | $5.3M | $15.5M | -$407.0K | -$971.0K | $5.4M | $3.5M | $5.7M |
| Income tax | $996.0K | $394.0K | $571.0K | $1.0M | $3.3M | $21.0K | $267.0K | $828.0K | $888.0K | $1.3M |
| Net income | -$4.3M | -$171.0K | $1.5M | $4.3M | $12.2M | -$386.0K | -$704.0K | $4.5M | $2.6M | $4.4M |
| EPS, basic | -0.23 | -0.03 | 0.06 | 0.19 | 0.58 | -0.04 | — | — | — | — |
| EPS, diluted | -0.23 | -0.03 | 0.06 | 0.19 | 0.56 | -0.04 | -0.05 | 0.20 | 0.11 | 0.19 |
| Shares, diluted (wtd. avg.) | $20.4M | $20.4M | $20.4M | $20.4M | $21.8M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $35.6M | $28.3M | $28.9M | $24.8M | $19.3M | $12.9M | $12.6M | $24.5M | $13.3M | $15.6M |
| Total assets | $393.4M | $381.3M | $367.1M | $402.3M | $405.2M | $377.6M | $344.3M | $343.2M | $318.6M | $314.6M |
| Total liabilities | $293.8M | $274.0M | $264.9M | $261.0M | $260.1M | $259.2M | $242.9M | $230.3M | $213.1M | $212.1M |
| Retained earnings | $45.9M | $50.9M | $52.0M | $51.3M | $47.8M | $36.0M | $37.2M | $31.0M | $27.3M | $25.4M |
| Total equity | $99.6M | $107.3M | $102.2M | $141.3M | $145.1M | $118.4M | $101.4M | $113.0M | $105.5M | $102.5M |
Cash flow
| Fiscal year | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.8M | $2.6M | $6.5M | $1.1M | $9.0M | -$1.8M | $4.5M | $12.2M | $1.3M | $2.2M |
| Depreciation and amortisation | $366.0K | $652.0K | $890.0K | $1.0M | $980.0K | $996.0K | $987.0K | $1.4M | $1.2M | $1.1M |
| Capital expenditure | $225.0K | $80.0K | $126.0K | $107.0K | $233.0K | $69.0K | $281.0K | $103.0K | $396.0K | $322.0K |
| Investing cash flow | $2.3M | -$3.4M | -$3.4M | $5.3M | -$2.1M | $3.0M | -$14.8M | $593.0K | -$2.2M | -$1.2M |
| Financing cash flow | $186.0K | $181.0K | $1.1M | -$954.0K | -$481.0K | -$939.0K | -$1.6M | -$1.5M | -$1.5M | -$1.8M |
| Dividends paid | $408.0K | $408.0K | $408.0K | $408.0K | $0 | $403.0K | $407.0K | $408.0K | $408.0K | $412.0K |
| Buybacks | — | — | — | — | $0 | $71.0K | $597.0K | $692.0K | $698.0K | $997.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-25-010239.
Others in SIC 6311
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MET | METLIFE INC | $62.04B | 20.7x | 8.5% |
| PRU | PRUDENTIAL FINANCIAL INC | $42.10B | 12.2x | -13.7% |
| RGA | REINSURANCE GROUP OF AMERICA INC | $16.54B | 14.3x | 7.2% |
| CRBG | Corebridge Financial, Inc. | $15.37B | — | -1.2% |
| GL | GLOBE LIFE INC. | $13.39B | 12.4x | 3.7% |
| JXN | Jackson Financial Inc. | $9.52B | — | 104.3% |
| VOYA | Voya Financial, Inc. | $9.43B | 16.5x | 4.9% |
| PRI | Primerica, Inc. | $9.10B | 12.9x | 6.6% |