Want to see AMN full AI Analyst Report?
Top Page
AMN Healthcare Services
(NYSE:AMN)
Select Model
Select Model
Rating:62Neutral
Price Target:
$37.00
▲(83.26% Upside)
Action:Reiterated
Date:05/09/26
The score is driven by strong cash generation and improving leverage, partly offset by weak/volatile profitability and guidance indicating limited near-term operating margin. Technicals show a strong trend but are overbought, while valuation appears attractive due to the very low P/E.
Positive Factors
Free Cash Flow Generation
Sustained high operating and free cash flow provides durable financial flexibility to pay down debt, fund technology investments and weather cyclical staffing demand. Even if some cash reflects timing, recurring strong cash conversion materially enhances strategic optionality and capital allocation.
Negative Factors
Reliance on Labor Disruption Revenue
Heavy dependence on large, unpredictable labor disruption events inflates revenue and margins episodically, undermining forecastability and core demand visibility. If such events are non-recurring, near-term revenue and profitability can normalize sharply, stressing operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Generation
Sustained high operating and free cash flow provides durable financial flexibility to pay down debt, fund technology investments and weather cyclical staffing demand. Even if some cash reflects timing, recurring strong cash conversion materially enhances strategic optionality and capital allocation.
Read all positive factors
AMN Healthcare Services Key Performance Indicators (KPIs)
Any
Revenue by Segment
Data provided by:
The Fly
The FlyAMN Healthcare Services (AMN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.35B
Dividend YieldN/A
Average Volume (3M)1.32M
Price to Earnings (P/E)―
Beta (1Y)0.67
Revenue Growth19.87%
EPS Growth79.93%
CountryUS
Employees2,968
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-0.86
Shares Outstanding38,786,053
10 Day Avg. Volume1,125,753
30 Day Avg. Volume1,318,955
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)0.95
Price to Sales (P/S)0.22
P/FCF Ratio2.60
Enterprise Value/Market Cap1.09
Enterprise Value/Revenue0.43
Enterprise Value/Gross Profit1.56
Enterprise Value/Ebitda7.30
Forecast
1Y Price Target
$26.50Price Target Upside31.25% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)2.61
Revenue Forecast (FY)$3.25B
AMN Healthcare Services Business Overview & Revenue Model
Company Description
AMN Healthcare Services, Inc. (AMN) specializes in delivering comprehensive workforce solutions and staffing services to hospitals and healthcare facilities throughout the United States. Its operations are structured across three primary segments:...
How the Company Makes Money
AMN primarily makes money by providing staffing and workforce solutions to healthcare providers and charging fees tied to the placement and deployment of clinicians. Key revenue streams generally include: (1) Nurse and allied staffing—AMN recruits...
AMN Healthcare Services Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive operational and financial performance with a notable beat to revenue and strong adjusted EBITDA and cash generation, driven in large part by extraordinary execution on multiple labor disruption events and effective deployment of technology and AI. Several underlying businesses showed healthy momentum ex-event (Nurse & Allied ex-disruption, international recovering, search growth), and the balance sheet strengthened (paid down revolver, leverage at 1.6x). Offsetting these positives are material risks and near-term headwinds: a large portion of Q1 results were driven by unpredictable labor disruption and rapid-response revenue that management does not expect to fully recur, ongoing pricing pressure and volume declines in parts of Physician & Leadership and Technology & Workforce Solutions, and short-term cash normalization as client deposits are refunded. Management provided conservative Q2 guidance reflecting these dynamics, while outlining a path to sustained growth aided by technology, operational improvements and anticipated market stabilization into 2027.Positive Updates
Quarterly Revenue Beat and Scale Execution
Consolidated revenue of $1.38 billion in Q1, above guidance and consensus (exceeded guidance by $122 million). Demonstrated ability to rapidly scale operations by supporting five labor disruption events (three large, two indefinite) and deploying thousands of clinicians.
Negative Updates
Heavy Reliance on Labor Disruption Revenue
Q1 included $722 million of labor disruption revenue (roughly half of total revenue). Management emphasized this revenue is hard to predict and much of the elevated bill rate and margin benefit from rapid response placements is not expected to recur in Q2.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Revenue Beat and Scale Execution
Consolidated revenue of $1.38 billion in Q1, above guidance and consensus (exceeded guidance by $122 million). Demonstrated ability to rapidly scale operations by supporting five labor disruption events (three large, two indefinite) and deploying thousands of clinicians.
Read all positive updates
Company Guidance
AMN guided second‑quarter consolidated revenue of $620–$635 million, gross margin of 28.0%–28.5% (midpoint ≈28.2%, with roughly $10 million of labor‑disruption revenue embedded), reported SG&A of about 23.0%–23.5% of revenue, operating margin of -0.6% to +0.1% and adjusted EBITDA margin of 6.7%–7.2%. Segment outlooks: Nurse & Allied Solutions revenue expected flat to down ~2% year‑over‑year, Physician & Leadership Solutions down ~6%–8% y/y, and Technology & Workforce Solutions down ~14%–16% y/y (noted as an improved sequential trend). Management also reported Q1 balances of $551 million cash, $367 million in client deposits (≈$250 million already refunded), $750 million total debt and 1.6x leverage, and said they expect roughly $175 million cash at quarter end if remaining deposits are repaid and to maintain net leverage at ≤2.0x through the rest of the year.AMN Healthcare Services Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
54
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.42B | 2.73B | 2.98B | 3.79B | 5.24B | 3.98B |
| Gross Profit | 944.77M | 774.06M | 919.38M | 1.25B | 1.72B | 1.31B |
| EBITDA | 201.59M | 101.13M | 71.11M | 499.36M | 784.21M | 581.70M |
| Net Income | -32.44M | -95.70M | -146.98M | 210.68M | 444.05M | 327.39M |
Balance Sheet | ||||||
| Total Assets | 2.60B | 2.09B | 2.42B | 2.92B | 2.89B | 3.13B |
| Cash, Cash Equivalents and Short-Term Investments | 560.74M | 33.97M | 10.65M | 32.94M | 64.52M | 180.93M |
| Total Debt | 776.92M | 803.20M | 1.10B | 1.35B | 860.96M | 867.07M |
| Total Liabilities | 1.89B | 1.45B | 1.71B | 2.09B | 1.84B | 1.97B |
| Stockholders Equity | 712.81M | 642.11M | 706.62M | 831.26M | 1.04B | 1.16B |
Cash Flow | ||||||
| Free Cash Flow | 706.34M | 233.83M | 239.53M | 266.78M | 572.81M | 251.69M |
| Operating Cash Flow | 739.24M | 269.46M | 320.42M | 372.17M | 653.73M | 305.36M |
| Investing Cash Flow | 22.84M | 4.30M | -79.94M | -412.49M | -170.71M | -107.40M |
| Financing Cash Flow | -261.82M | -295.89M | -259.45M | 10.73M | -591.87M | -34.90M |
AMN Healthcare Services Technical Analysis
Positive
20.19
Price Trends
27.98
Positive
23.59
Positive
20.88
Positive
Market Momentum
1.49
Negative
71.16
Negative
85.01
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMN, the sentiment is Positive. The current price of 20.19 is below the 20-day moving average (MA) of 31.59, below the 50-day MA of 27.98, and below the 200-day MA of 20.88, indicating a bullish trend. The MACD of 1.49 indicates Negative momentum. The RSI at 71.16 is Negative, neither overbought nor oversold. The STOCH value of 85.01 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMN.
AMN Healthcare Services Risk Analysis
AMN Healthcare Services disclosed 29 risk factors in its most recent earnings report. AMN Healthcare Services reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
AMN Healthcare Services Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.73B | 26.20 | 13.60% | ― | 6.46% | 72.30% | |
70 Outperform | $2.44B | 79.61 | 3.88% | ― | 56.69% | -15.92% | |
69 Neutral | $1.98B | 7.18 | 241.47% | ― | 20.49% | 4335.46% | |
62 Neutral | $1.35B | -40.41 | -4.98% | ― | 19.87% | 79.93% | |
59 Neutral | $426.45M | -4.33 | -27.10% | ― | -20.37% | -479.68% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
AMN
AMN Healthcare Services
34.75
13.52
63.68%
CCRN
Cross Country Healthcare
13.20
0.45
3.53%
HCSG
Healthcare Services
25.15
10.38
70.28%
ASTH
Astrana Health
49.17
25.02
103.60%
AVAH
Aveanna Healthcare Holdings
9.10
4.80
111.63%
AMN Healthcare Services Corporate Events
Executive/Board ChangesShareholder Meetings
AMN Healthcare Shareholders Approve Equity Plan and Directors
Positive
May 4, 2026
At its May 1, 2026 annual meeting, AMN Healthcare Services, Inc. shareholders approved Amendment No. 1 to the AMN Healthcare 2025 Equity Plan, confirming a key element of the company’s long‑term incentive and employee compensation stru...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.