AFFIRMATIVE INSURANCE HOLDINGS INC
Financials · Fire, Marine & Casualty Insurance · DE · SEC filings ↗ · Compare ⊕
Financials
SEC XBRL · annual| FY14 | FY13 | FY12 | FY11 | FY10 | FY09 | |
|---|---|---|---|---|---|---|
| Revenue | $45.5M | $63.8M | $209.8M | $249.8M | $425.8M | $456.2M |
| Operating income | −$31.0M | −$8.5M | −$8.2M | −$8.2M | −$61.4M | −$4.1M |
| Net income | $664,000 | −$6.3M | −$51.9M | −$162.6M | −$86.9M | −$38.9M |
| Total assets | $337.7M | $386.8M | $338.4M | $441.6M | $745.7M | — |
| Total liabilities | $472.1M | $489.7M | $471.6M | $522.6M | $652.7M | — |
| Equity | −$134.4M | −$102.9M | −$133.3M | −$81.0M | $81.7M | $183.4M |
| EPS (diluted) | $0.04 | $-0.41 | $-3.37 | $-10.55 | $-5.64 | $-2.52 |
| Shares out. | 15.9M | 15.4M | 15.4M | 15.4M | 15.4M | 15.4M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2014- Operating margin
- −68.0%
- Net margin
- 1.5%
- Return on equity
- −0.5%
- Return on assets
- 0.2%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 139.8%
- Debt / equity
- —
- Book value / share
- $-8.46
- Revenue growth (YoY)
- −28.7%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2014- Accruals / assets
- 15.4%high accruals
- Piotroski F-Score
- 2/8weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 severe● 5 warning● 0 good- Negative shareholder equity
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating losses (negative operating margin)
- Revenue declined year-over-year
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- High accruals — earnings-quality risk
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗Aug 17, 2015
- NT 10-Qmissed a reporting deadline ↗Nov 15, 2012
- NT 10-Kmissed a reporting deadline ↗Mar 16, 2009
- NT 10-Kmissed a reporting deadline ↗Mar 16, 2006
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Fisher Joseph GOfficer — EVP, Sec. & General Counsel | Feb 12, 2014 | Grant | 147,000 | $2.74 |
| Fonville Earl ROfficer — EVP, Chief Financial Officer | Feb 14, 2014 | Grant | 75,000 | $2.74 |
| Mcclure Michael JOfficer — Chief Executive Officer | Feb 14, 2014 | Grant | 250,000 | $2.74 |
| Frazer Nimrod TDirector | Jun 20, 2012 | Buy | 15,000 | $0.19 |
| Fisher Joseph GOfficer — EVP, Sec. & General Counsel | Jun 20, 2012 | Buy | 5,000 | $0.23 |
| Williams Robert TDirector | Dec 16, 2011 | Buy | 9,800 | $0.70 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Material events
SEC Form 8-K · most recent- Bankruptcy or receivership · Debt acceleration / triggering eventOct 15, 2015
- Changed auditorSep 25, 2015
- Director / officer changeSep 18, 2015
- Entered a material agreement · Bankruptcy or receivershipSep 17, 2015
- Director / officer changeSep 1, 2015
- Director / officer changeAug 4, 2015
- Changed auditorJul 17, 2015
- Entered a material agreement · Terminated a material agreement · Completed an acquisition or dispositionJun 30, 2015
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
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