CBU vs. AMSF

Last updated Apr 1, 2026

Compare and contrast key facts about Community Bank System, Inc. (CBU) and AMERISAFE, Inc. (AMSF).

Performance

CBU vs. AMSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Community Bank System, Inc. (CBU) and AMERISAFE, Inc. (AMSF). The values are adjusted to include any dividend payments, if applicable.

CBU vs. AMSF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CBU Community Bank System, Inc.	2.95%	-3.84%	22.61%	-14.17%	-13.16%	22.28%	-9.59%	24.69%	11.06%	-10.90%
AMSF AMERISAFE, Inc.	-12.13%	-20.78%	19.62%	-0.86%	6.13%	2.00%	-6.09%	24.48%	-6.63%	0.16%

Fundamentals

Market Cap CBU : $3.29B AMSF : $632.18M
EPS CBU : $3.89 AMSF : $2.47
PE Ratio CBU : 15.07 AMSF : 13.47
PS Ratio CBU : 3.41 AMSF : 2.00
PB Ratio CBU : 1.64 AMSF : 0.56
Total Revenue (TTM) CBU : $928.71M AMSF : $317.29M
Gross Profit (TTM) CBU : $682.00M AMSF : $94.71M
EBITDA (TTM) CBU : $317.25M AMSF : $46.75M

Returns By Period

In the year-to-date period, CBU achieves a 2.95% return, which is significantly higher than AMSF's -12.13% return. Over the past 10 years, CBU has outperformed AMSF with an annualized return of 7.30%, while AMSF has yielded a comparatively lower 2.05% annualized return.

CBU

• 1D: 1.72%
• 1M: -2.34%
• YTD: 2.95%
• 6M: 1.63%
• 1Y: 6.50%
• 3Y*: 7.40%
• 5Y*: -2.37%
• 10Y*: 7.30%

AMSF

• 1D: -1.27%
• 1M: 3.75%
• YTD: -12.13%
• 6M: -20.18%
• 1Y: -32.25%
• 3Y*: -4.51%
• 5Y*: -4.33%
• 10Y*: 2.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CBU vs. AMSF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CBU

CBU Risk / Return Rank: 48
CBU Sharpe Ratio Rank: 50
CBU Sortino Ratio Rank: 43
CBU Omega Ratio Rank: 42
CBU Calmar Ratio Rank: 52
CBU Martin Ratio Rank: 52

AMSF

AMSF Risk / Return Rank: 5
AMSF Sharpe Ratio Rank: 1
AMSF Sortino Ratio Rank: 3
AMSF Omega Ratio Rank: 5
AMSF Calmar Ratio Rank: 7
AMSF Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CBU vs. AMSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Community Bank System, Inc. (CBU) and AMERISAFE, Inc. (AMSF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CBU	AMSF	Difference
Sharpe ratio Return per unit of total volatility	0.24	-1.27	+1.51
Sortino ratio Return per unit of downside risk	0.54	-1.79	+2.32
Omega ratio Gain probability vs. loss probability	1.07	0.78	+0.28
Calmar ratio Return relative to maximum drawdown	0.42	-0.92	+1.34
Martin ratio Return relative to average drawdown	0.99	-1.60	+2.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBU vs. AMSF - Sharpe Ratio Comparison

The current CBU Sharpe Ratio is 0.24, which is higher than the AMSF Sharpe Ratio of -1.27. The chart below compares the historical Sharpe Ratios of CBU and AMSF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CBU	AMSF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	-1.27	+1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	-0.18	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.08	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.33	0.00

Correlation

The correlation between CBU and AMSF is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CBU vs. AMSF - Dividend Comparison

CBU's dividend yield for the trailing twelve months is around 3.19%, less than AMSF's 7.74% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBU Community Bank System, Inc.	3.19%	3.24%	2.95%	3.42%	2.76%	2.28%	2.66%	2.23%	2.47%	2.46%	2.04%	3.05%
AMSF AMERISAFE, Inc.	7.74%	6.66%	8.69%	10.39%	10.08%	9.59%	7.97%	6.82%	1.55%	1.30%	6.37%	7.07%

Drawdowns

CBU vs. AMSF - Drawdown Comparison

The maximum CBU drawdown since its inception was -61.07%, which is greater than AMSF's maximum drawdown of -40.90%. Use the drawdown chart below to compare losses from any high point for CBU and AMSF.

Drawdown Indicators

	CBU	AMSF	Difference
Max Drawdown Largest peak-to-trough decline	-61.07%	-40.90%	-20.17%
Max Drawdown (1Y) Largest decline over 1 year	-16.03%	-35.33%	+19.30%
Max Drawdown (5Y) Largest decline over 5 years	-50.47%	-38.52%	-11.95%
Max Drawdown (10Y) Largest decline over 10 years	-51.04%	-38.52%	-12.52%
Current Drawdown Current decline from peak	-16.85%	-36.21%	+19.36%
Average Drawdown Average peak-to-trough decline	-14.58%	-12.08%	-2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.77%	20.21%	-13.44%

Volatility

CBU vs. AMSF - Volatility Comparison

The current volatility for Community Bank System, Inc. (CBU) is 5.38%, while AMERISAFE, Inc. (AMSF) has a volatility of 7.97%. This indicates that CBU experiences smaller price fluctuations and is considered to be less risky than AMSF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBU	AMSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	7.97%	-2.59%
Volatility (6M) Calculated over the trailing 6-month period	17.21%	18.33%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	27.28%	25.43%	+1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.60%	24.30%	+5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.08%	26.85%	+3.23%

Financials

CBU vs. AMSF - Profitability Comparison

The chart below illustrates the profitability comparison between Community Bank System, Inc. and AMERISAFE, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CBU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Community Bank System, Inc. reported a gross profit of 95.81M and revenue of 181.47M. Therefore, the gross margin over that period was 52.8%.

AMSF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, AMERISAFE, Inc. reported a gross profit of 0.00 and revenue of 81.59M. Therefore, the gross margin over that period was 0.0%.

CBU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Community Bank System, Inc. reported an operating income of 88.18M and revenue of 181.47M, resulting in an operating margin of 48.6%.

AMSF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, AMERISAFE, Inc. reported an operating income of 0.00 and revenue of 81.59M, resulting in an operating margin of 0.0%.

CBU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Community Bank System, Inc. reported a net income of 54.42M and revenue of 181.47M, resulting in a net margin of 30.0%.

AMSF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, AMERISAFE, Inc. reported a net income of 10.42M and revenue of 81.59M, resulting in a net margin of 12.8%.