AMSF - AMERISAFE, Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$44.50
DETAILS
HIGH:
$55.00
LOW:
$34.00
MEDIAN:
$44.50
CONSENSUS:
$44.50
UPSIDE:
43.32%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2000 | 1995 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||
| Revenue | 317.3 | 309.1 | 306.9 | 294.7 | 316.0 | 339.5 | 370.4 | 377.8 | 375.2 | 396.7 | 401.6 | 404.0 | 356.3 | 321.2 | 280.7 | 248.2 | 282.2 | 302.4 | 338.3 | 332.7 | 276.3 | 249.0 | 190.7 | 173.9 | 198.2 | 58.2 |
| Cost of Revenue | 169.9 | 181.0 | 0 | 152.3 | 160.8 | 0 | 201.4 | 231.1 | 234.1 | 225.3 | 242.1 | 272.8 | 39.3 | 242.0 | 208.2 | 173.7 | 163.3 | 35.3 | 224.8 | 52.3 | 253.3 | 217.3 | 129.2 | 121.1 | 109.5 | 13.5 |
| Gross Profit | 147.3 | 128.1 | 306.9 | 142.4 | 155.2 | 339.5 | 169.0 | 146.7 | 141.1 | 171.4 | 159.5 | 131.2 | 317.0 | 79.2 | 72.5 | 74.4 | 118.9 | 267.0 | 113.5 | 280.5 | 23.0 | 31.6 | 61.5 | 52.8 | 88.7 | 44.7 |
| Operating Expenses | ||||||||||||||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 0 | 31.5 | 27.4 | 26.5 | 26.0 | 27.9 | 27.1 | 26.0 | 25.6 | 24.9 | 24.4 | 24.5 | 23.4 | 20.8 | 19.9 | 21.4 | 39.9 | 35.3 | 39.2 | 17.2 | 14.2 | 15.0 | 0 | 0 | 0 | 6.8 |
| Other Expenses | 88.5 | 27.5 | 202.2 | 48.2 | 49.8 | 204.7 | 26.4 | 33.1 | 33.2 | 33.7 | 34.1 | 33.0 | 274.3 | 21.2 | 25.2 | 8.8 | 16.7 | 197.3 | 3.2 | 17.2 | 2.8 | 2.9 | 50.0 | 49.1 | 67.7 | 0.8 |
| Operating Expenses | 88.5 | 59.0 | 229.5 | 74.7 | 75.8 | 232.6 | 53.5 | 59.1 | 58.8 | 58.6 | 58.6 | 57.5 | 297.1 | 42.1 | 45.1 | 30.2 | 56.5 | 238.3 | 42.4 | 280.3 | 17.0 | 17.9 | 50.0 | 49.1 | 67.7 | 7.6 |
| Operating Income | ||||||||||||||||||||||||||
| Operating Income | 58.9 | 69.1 | 77.4 | 67.6 | 79.4 | 106.9 | 115.5 | 87.6 | 82.2 | 112.8 | 101.0 | 73.7 | 59.2 | 37.1 | 27.4 | 44.2 | 62.4 | 83.8 | 71.1 | 52.4 | 6.0 | 13.7 | 11.4 | 3.7 | 21.0 | 37.1 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.6 | 0.6 | 1.3 | 1.5 | 1.8 | 2.5 | 3.5 | 3.5 | 2.8 | 1.8 | 0.2 | 0.5 | 0.8 | 0.8 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | ||||||||||||||||||||||||||
| EBITDA | 59.6 | 70.1 | 0 | 69.0 | 80.5 | 106.9 | 116.5 | 88.6 | 83.2 | 114.0 | 102.3 | 75.0 | 60.5 | 38.8 | 29.7 | 46.8 | 65.3 | 67.7 | 76.4 | 60.2 | 13.3 | 18.9 | 13.7 | 4.2 | 21.8 | (0.2) |
| EBIT | 58.9 | 69.1 | (1.4) | 67.6 | 79.4 | 106.9 | 115.5 | 87.6 | 82.2 | 112.8 | 101.0 | 73.7 | 59.2 | 37.7 | 28.7 | 45.8 | 64.2 | 66.5 | 74.6 | 55.9 | 8.8 | 15.5 | 11.6 | 4.2 | 21.8 | 0.8 |
| Income Before Tax | 58.9 | 69.1 | 77.4 | 67.6 | 79.4 | 106.9 | 115.5 | 87.6 | 82.2 | 112.8 | 101.0 | 73.7 | 59.2 | 37.1 | 27.4 | 44.2 | 62.4 | 64.1 | 71.1 | 52.4 | 6.0 | 13.7 | 11.4 | 3.7 | 21.0 | 14.5 |
| Income Tax Expense | 11.7 | 13.6 | 15.3 | 12.0 | 13.7 | 20.3 | 22.8 | 15.9 | 36.0 | 35.0 | 30.5 | 20.1 | 15.6 | 7.8 | 3.2 | 9.7 | 15.9 | 20.2 | 20.9 | 15.1 | 0.1 | 3.1 | 2.8 | (1.4) | 0 | 5.2 |
| Net Income | 47.1 | 55.4 | 62.1 | 55.6 | 65.8 | 86.6 | 92.7 | 71.6 | 46.2 | 77.9 | 70.5 | 53.7 | 43.6 | 29.4 | 24.2 | 34.5 | 46.4 | 43.8 | 50.2 | 37.4 | 5.9 | 10.6 | 8.6 | 5.2 | 14.0 | 9.3 |
| Per Share Data | ||||||||||||||||||||||||||
| EPS (Basic) | 2.48 | 2.91 | 3.24 | 2.89 | 3.40 | 4.49 | 4.82 | 3.73 | 2.41 | 4.08 | 3.72 | 2.88 | 2.37 | 1.62 | 1.32 | 1.85 | 2.27 | 2.19 | 2.52 | 1.88 | -1.25 | 2.42 | -8.55 | -14.25 | 19.34 | 0.42 |
| EPS (Diluted) | 2.47 | 2.89 | 3.23 | 2.88 | 3.39 | 4.47 | 4.80 | 3.71 | 2.40 | 4.05 | 3.69 | 2.84 | 2.32 | 1.58 | 1.29 | 1.81 | 2.22 | 2.15 | 2.47 | 1.88 | -1.25 | 2.14 | -8.55 | -23.72 | 19.34 | 0.42 |
| Shares Outstanding | 19.0 | 19.1 | 19.1 | 19.2 | 19.3 | 19.3 | 19.2 | 19.2 | 19.2 | 19.1 | 18.9 | 18.6 | 18.4 | 18.2 | 18.2 | 18.6 | 18.9 | 18.8 | 18.8 | 17.6 | 2.1 | 0.2 | 0.2 | 0.3 | 0.3 | 22.1 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2009 | 2008 | 2004 | 2003 | 2002 | 2000 | 1995 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||||||||||
| Cash & Cash Equivalents | 61.9 | 44.0 | 38.7 | 61.5 | 70.7 | 61.8 | 43.8 | 40.3 | 55.6 | 58.9 | 63.2 | 95.3 | 25.4 | 49.8 | 44.7 | 44.9 | 0 |
| Short-Term Investments | 87.4 | 86.5 | 94.7 | 335.2 | 399.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 71.5 |
| Net Receivables | 279.1 | 269.2 | 272.9 | 257.3 | 270.2 | 156.8 | 158.0 | 162.5 | 174.2 | 183.0 | 233.4 | 224.3 | 0 | 330.6 | 214.3 | 327.2 | 10.8 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 397.9 | 345.2 | 365.6 | 432.4 | 457.8 | 365.3 | 326.8 | 343.0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 428.5 | 399.7 | 406.3 | 654.0 | 740.1 | 218.5 | 201.8 | 202.8 | 229.8 | 241.9 | 296.6 | 319.6 | 343.0 | 380.4 | 259.0 | 372.1 | 82.3 |
| Non-Current Assets | |||||||||||||||||
| Property, Plant & Equipment | 7.3 | 5.9 | 6.3 | 7.2 | 6.7 | 6.5 | 6.8 | 6.3 | 6.1 | 6.6 | 5.4 | 5.5 | 7.1 | 6 | 0 | 0 | 5.9 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 1,063.8 | 0 | 1,090.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 21.1 | 19.2 | 18.0 | 17.4 | 17.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 647.4 | 702.3 | 763.0 | 553.7 | 613.4 | 1,088.7 | 1,125.0 | 1,125.5 | 1,130.3 | 1,084.5 | 737.3 | 704.7 | 0 | 255.4 | 0 | 0 | 71.5 |
| Other Non-Current Assets | 8.7 | 11.3 | 15.1 | 14.1 | 11.2 | 37.6 | 45.9 | 47.5 | 42.6 | 68.3 | 51.0 | 44.4 | 388.5 | (261.4) | 0 | 0 | (77.4) |
| Total Non-Current Assets | 702.1 | 758.1 | 822.9 | 615.3 | 662.6 | 1,166.1 | 1,213.4 | 1,218.0 | 1,204.9 | 1,201.9 | 833.8 | 801.6 | 421.7 | 261.4 | 0 | 0 | 77.4 |
| Total Assets | 1,130.5 | 1,157.8 | 1,229.2 | 1,269.3 | 1,402.7 | 1,384.6 | 1,415.2 | 1,420.9 | 1,434.7 | 1,443.9 | 1,130.4 | 1,121.2 | 764.6 | 678.6 | 603.8 | 685.3 | 120.4 |
| Current Liabilities | |||||||||||||||||
| Account Payables | 0 | 0 | 0 | 38.1 | 37.9 | 0 | 40.1 | 38.6 | 37.1 | 0.0 | 24.3 | 29.0 | 18.7 | 18.9 | 0 | 0 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 135.5 | 121.9 | 116.6 | 115.0 | 121.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 565.2 | 558.8 | 571.1 | 594.8 | 642.4 | (0.4) | (26.2) | (31.7) | (41.4) | (45.3) | (27.3) | (31.8) | (19.6) | (19.4) | 0 | 0 | 0 |
| Total Current Liabilities | 700.7 | 680.8 | 687.7 | 747.8 | 801.3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Non-Current Liabilities | |||||||||||||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36.1 | 36.1 | 36.1 | 16.3 | 8 | 9.5 | 10.1 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 178.2 | 219.7 | 249.0 | 204.0 | 202.1 | 0 | 0 | 0 | 0 | 0 | (36.1) | (36.1) | (36.1) | (16.3) | (8) | (9.5) | (10.1) |
| Total Non-Current Liabilities | 178.2 | 219.7 | 249.0 | 204.0 | 202.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 878.9 | 900.5 | 936.7 | 951.8 | 1,003.4 | 1,032.0 | 1,062.7 | 1,106.2 | 1,092.8 | 1,062.7 | 816.4 | 854.6 | 797.0 | 699.3 | 628.9 | 712.2 | 88.3 |
| Stockholders' Equity | |||||||||||||||||
| Common Stock | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.0 | 0.0 | 0 | 0 | 0 |
| Retained Earnings | 82.8 | 84.1 | 114.3 | 145.5 | 190.5 | 224.6 | 227.2 | 221.3 | 233.9 | 270.4 | 122.6 | 77.1 | (51.7) | (52.5) | 0 | 0 | 30.4 |
| Accumulated Other Comprehensive Income | (3.2) | (8.9) | (7.2) | (13.8) | 13.5 | 21.0 | 12.2 | (0.8) | 3.6 | (0.5) | 2.7 | 0.8 | 7.1 | 7.2 | 0 | 0 | 0 |
| Total Stockholders' Equity | 251.6 | 257.3 | 292.5 | 317.4 | 399.3 | 438.8 | 430.2 | 409.8 | 425.4 | 456.1 | 302.4 | 253.3 | (42.9) | (20.7) | (25.1) | (26.9) | 32.1 |
| Total Liabilities & Equity | 1,130.5 | 1,157.8 | 1,229.2 | 1,269.3 | 1,402.7 | 1,470.9 | 1,492.9 | 1,515.9 | 1,518.2 | 1,518.9 | 1,118.8 | 1,107.8 | 754.2 | 678.6 | 603.8 | 685.3 | 120.4 |
| Debt Metrics | |||||||||||||||||
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36.1 | 36.1 | 36.1 | 16.3 | 8 | 9.5 | 10.1 |
| Net Debt | (61.9) | (44.0) | (38.7) | (61.5) | (70.7) | (61.8) | (43.8) | (40.3) | (55.6) | (58.9) | (27.1) | (59.2) | 10.7 | (33.5) | (36.7) | (35.4) | 10.1 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2005 | 2004 | 2003 | 1995 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Net Income | 47.1 | 55.4 | 62.1 | 55.6 | 65.8 | 86.6 | 92.7 | 71.6 | 46.2 | 77.9 | 5.9 | 10.6 | 8.6 | 9.3 |
| Depreciation & Amortization | 0.7 | 1.1 | 1.4 | 1.3 | 1.0 | 1.0 | 0.9 | 1.0 | 1.0 | 1.2 | 2.2 | 3.4 | 2.0 | (1) |
| Stock-Based Compensation | 2.9 | 2.9 | 1.6 | 2.5 | 2.3 | 3.3 | 2.4 | 2.1 | 2.0 | 1.6 | 0.1 | 0 | 0 | 0 |
| Change in Working Capital | (33.9) | (29.3) | (31.0) | (41.5) | (27.1) | (32.0) | (22.0) | 10.6 | 54.1 | 19.1 | 305.4 | 81.0 | 41.0 | 7.2 |
| Other Non-Cash Items | (6.2) | (7.3) | (4.8) | 11.4 | (5.2) | 2.9 | 4.0 | 14.4 | 14.7 | 16.8 | (165.1) | (0.2) | 0.7 | 13.5 |
| Operating Cash Flow | 11.1 | 24.2 | 29.8 | 28.2 | 38.0 | 63.4 | 78.8 | 98.3 | 130.8 | 114.2 | 142.0 | 91.9 | 50.4 | 29.1 |
| Investing Activities | ||||||||||||||
| Capital Expenditure | (2.1) | (0.8) | (0.6) | (2.1) | (1.3) | (0.9) | (1.0) | (1.1) | (0.5) | (1.6) | (1.4) | (2.8) | (0.6) | (2.5) |
| Acquisitions | 0 | 0 | (44.4) | (85.0) | 0.0 | (104.6) | (159.7) | (100.1) | (78.9) | (177.2) | 0 | 0 | 0 | 0 |
| Purchases of Investments | (67) | (110.7) | (133.7) | (215.5) | (271.2) | (320.9) | (345.9) | (368.3) | (401.8) | (354.6) | (296.2) | (145.3) | (90.7) | (30.6) |
| Sales/Maturities of Investments | 72.6 | 112.8 | 178.1 | 293.0 | 343.4 | 365.2 | 358.6 | 340.3 | 350.7 | 305.8 | 126.3 | 39.1 | 37.7 | 10.2 |
| Other Investing Activities | 65.0 | 71.1 | 44.4 | 85.0 | 0 | 104.6 | 159.7 | 100.1 | 78.9 | 177.2 | 0.0 | 0.0 | 0.0 | (0.4) |
| Investing Cash Flow | 68.4 | 72.4 | 43.9 | 75.4 | 71.0 | 43.4 | 11.7 | (29.1) | (51.5) | (50.5) | (171.3) | (109.0) | (53.6) | (23.3) |
| Financing Activities | ||||||||||||||
| Net Debt Issuance | (0.1) | (0.1) | (0.1) | (0.1) | (0.0) | (0.1) | (0.0) | 0 | 0 | 0 | 0 | 19.8 | 8.3 | 0 |
| Stock Repurchased | (12.1) | (5.7) | (2.2) | (12.4) | 0 | 0 | (0.0) | 0 | 0 | 0 | (10.2) | (27.2) | 0 | 0 |
| Dividends Paid | (48.6) | (85.4) | (93.3) | (100.4) | (99.9) | (88.8) | (87.0) | (84.5) | (82.6) | (76.1) | (8.6) | 0 | 0 | 0 |
| Other Financing Activities | (0.8) | (0.6) | (0.9) | 0 | 0 | 0 | 0.0 | 0.1 | 0 | 1.8 | (10.1) | 0 | 0 | (0.9) |
| Financing Cash Flow | (61.6) | (91.2) | (96.5) | (112.9) | (100.0) | (88.8) | (87.0) | (84.4) | (82.6) | (74.3) | 53.1 | (7.4) | 8.3 | (0.9) |
| Cash Position | ||||||||||||||
| Net Change in Cash | 17.9 | 5.4 | (22.8) | (9.3) | 9.0 | 17.9 | 3.5 | (15.2) | (3.4) | (10.5) | 23.9 | (24.4) | 5.1 | (0.9) |
| Cash at Beginning | 44.0 | 38.7 | 61.5 | 70.7 | 61.8 | 43.8 | 40.3 | 55.6 | 58.9 | 69.5 | 25.4 | 49.8 | 44.7 | 5.3 |
| Cash at End | 61.9 | 44.0 | 38.7 | 61.5 | 70.7 | 61.8 | 43.8 | 40.3 | 55.6 | 58.9 | 49.3 | 25.4 | 49.8 | 4.4 |
| Free Cash Flow | 8.9 | 23.4 | 29.3 | 26.1 | 36.7 | 62.5 | 77.8 | 97.1 | 130.3 | 112.6 | 140.6 | 89.2 | 49.8 | 26.6 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2000 | 1995 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||||||||||||||||
| Revenue | 317.3 | 309.1 | 306.9 | 294.7 | 316.0 | 339.5 | 370.4 | 377.8 | 375.2 | 396.7 | 401.6 | 404.0 | 356.3 | 321.2 | 280.7 | 248.2 | 282.2 | 302.4 | 338.3 | 332.7 | 276.3 | 249.0 | 190.7 | 173.9 | 198.2 | 58.2 |
| Gross Profit | 147.3 | 128.1 | 306.9 | 142.4 | 155.2 | 339.5 | 169.0 | 146.7 | 141.1 | 171.4 | 159.5 | 131.2 | 317.0 | 79.2 | 72.5 | 74.4 | 118.9 | 267.0 | 113.5 | 280.5 | 23.0 | 31.6 | 61.5 | 52.8 | 88.7 | 44.7 |
| Operating Income | 58.9 | 69.1 | 77.4 | 67.6 | 79.4 | 106.9 | 115.5 | 87.6 | 82.2 | 112.8 | 101.0 | 73.7 | 59.2 | 37.1 | 27.4 | 44.2 | 62.4 | 83.8 | 71.1 | 52.4 | 6.0 | 13.7 | 11.4 | 3.7 | 21.0 | 37.1 |
| Net Income | 47.1 | 55.4 | 62.1 | 55.6 | 65.8 | 86.6 | 92.7 | 71.6 | 46.2 | 77.9 | 70.5 | 53.7 | 43.6 | 29.4 | 24.2 | 34.5 | 46.4 | 43.8 | 50.2 | 37.4 | 5.9 | 10.6 | 8.6 | 5.2 | 14.0 | 9.3 |
| EPS (Diluted) | 2.47 | 2.89 | 3.23 | 2.88 | 3.39 | 4.47 | 4.80 | 3.71 | 2.40 | 4.05 | 3.69 | 2.84 | 2.32 | 1.58 | 1.29 | 1.81 | 2.22 | 2.15 | 2.47 | 1.88 | -1.25 | 2.14 | -8.55 | -23.72 | 19.34 | 0.42 |
| Balance Sheet | ||||||||||||||||||||||||||
| Cash & Equivalents | 61.9 | 44.0 | 38.7 | 61.5 | 70.7 | 61.8 | 43.8 | 40.3 | 55.6 | 58.9 | 63.2 | 95.3 | 25.4 | 49.8 | 44.7 | 44.9 | 0 | |||||||||
| Total Assets | 1,130.5 | 1,157.8 | 1,229.2 | 1,269.3 | 1,402.7 | 1,384.6 | 1,415.2 | 1,420.9 | 1,434.7 | 1,443.9 | 1,130.4 | 1,121.2 | 764.6 | 678.6 | 603.8 | 685.3 | 120.4 | |||||||||
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36.1 | 36.1 | 36.1 | 16.3 | 8 | 9.5 | 10.1 | |||||||||
| Stockholders' Equity | 251.6 | 257.3 | 292.5 | 317.4 | 399.3 | 438.8 | 430.2 | 409.8 | 425.4 | 456.1 | 302.4 | 253.3 | (42.9) | (20.7) | (25.1) | (26.9) | 32.1 | |||||||||
| Cash Flow | ||||||||||||||||||||||||||
| Operating Cash Flow | 11.1 | 24.2 | 29.8 | 28.2 | 38.0 | 63.4 | 78.8 | 98.3 | 130.8 | 114.2 | 142.0 | 91.9 | 50.4 | 29.1 | ||||||||||||
| Capital Expenditure | (2.1) | (0.8) | (0.6) | (2.1) | (1.3) | (0.9) | (1.0) | (1.1) | (0.5) | (1.6) | (1.4) | (2.8) | (0.6) | (2.5) | ||||||||||||
| Free Cash Flow | 8.9 | 23.4 | 29.3 | 26.1 | 36.7 | 62.5 | 77.8 | 97.1 | 130.3 | 112.6 | 140.6 | 89.2 | 49.8 | 26.6 | ||||||||||||