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AMN Healthcare (AMN)
:AMN
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AMN Healthcare Services
(NYSE:AMN)
54Neutral
Positive Factors
Earnings
AMN delivered a margin-driven beat to consensus.
Financial Performance
Revenue of $689.5M was above the guidance range, primarily due to labour disruption revenue totalling $38.6M.
Guidance
2Q25 guidance was positive for both revenues and adjusted EBITDA.
Negative Factors
Competition
Technology and Workforce Solutions segment revenues were down 9% year-over-year, impacted by heightened competition and immigration policies.
Demand
Demand for much of the nurse and allied business remains below pre-pandemic levels, and competition remains intense.
International Operations
High-margin businesses like international staffing, VMS, and physician permanent placement have yet to rebound.
AMN Healthcare Services (AMN) vs. S&P 500 (SPY)
Market Cap
$868.68M
Dividend YieldN/A
Average Volume (3M)1.00M
Price to Earnings (P/E)18.6
Beta (1Y)0.37
Revenue Growth-18.13%
EPS Growth-215.78%
CountryUS
Employees2,968
SectorHealthcare
Sector Strength41
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.45
Shares Outstanding38,284,570
10 Day Avg. Volume1,058,506
30 Day Avg. Volume1,004,244
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.19
Price to Sales (P/S)0.00
P/FCF Ratio3.51
Enterprise Value/Market Cap2.22
Enterprise Value/Revenue0.15
Enterprise Value/Gross Profit2.31
Enterprise Value/Ebitda1.78
Forecast
1Y Price Target
$27.10Price Target Upside19.44% Upside
Rating ConsensusHold
Number of Analyst Covering8
AMN Healthcare Services Business Overview & Revenue Model
Company DescriptionAMN Healthcare Services (AMN) is a leading provider of healthcare workforce solutions and staffing services in the United States. The company operates across multiple sectors including nursing, physician, and allied healthcare staffing, as well as workforce management solutions. AMN offers a comprehensive range of services such as temporary and permanent placement of healthcare professionals, recruitment process outsourcing, and consulting services to healthcare facilities and organizations.
How the Company Makes MoneyAMN Healthcare Services primarily generates revenue through the provision of staffing and workforce solutions to the healthcare industry. The company's key revenue streams include temporary staffing, permanent placement services, and workforce management solutions. Temporary staffing services involve placing healthcare professionals, such as nurses and allied health professionals, on short-term assignments at various healthcare facilities. Permanent placement services involve recruiting healthcare professionals for full-time positions at client organizations. Additionally, AMN offers managed services programs and recruitment process outsourcing, which provide clients with comprehensive workforce management solutions. These services help healthcare facilities optimize their workforce operations, reduce costs, and improve patient care. Significant partnerships with hospitals, healthcare systems, and other healthcare organizations play a crucial role in driving AMN's earnings by expanding its client base and service offerings.
AMN Healthcare Services Financial Statement Overview
Summary
AMN Healthcare Services is experiencing significant profitability challenges, with negative earnings metrics in the TTM period. While the balance sheet shows manageable leverage, the decline in equity is concerning. Cash flow remains robust, indicating resilience despite declining profitability.Income Statement
The TTM data shows significant challenges for AMN Healthcare Services with a negative Net Income and EBIT, leading to a negative Net Profit Margin and EBIT Margin. The revenue has declined substantially from the previous year, indicating potential market or operational challenges. The company needs to address its profitability issues to stabilize its financial health.35
Negative
Balance Sheet
The balance sheet displays a moderate debt-to-equity ratio, indicating a reasonable level of leverage. However, the company's equity has decreased over the year, which may pose risks if not managed well. Despite this, the equity ratio remains healthy, suggesting some stability in the company's asset management.60
Neutral
Cash Flow
AMN Healthcare Services shows strength in its cash flow, with a positive operating cash flow and free cash flow despite a decrease compared to the previous year. The free cash flow to net income ratio is less relevant due to negative net income, but the company has managed its cash effectively amidst declining profitability.70
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 2.98B | 3.79B | 5.24B | 3.98B | 2.39B | Gross Profit |
| 919.38M | 1.25B | 1.72B | 1.31B | 791.78M | EBIT |
| -102.67M | 338.43M | 647.10M | 478.00M | 149.26M | EBITDA |
| 73.88M | 499.36M | 784.21M | 581.70M | 243.45M | Net Income Common Stockholders |
| -146.98M | 210.68M | 444.05M | 327.39M | 70.67M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 10.65M | 32.94M | 64.52M | 180.93M | 29.21M | Total Assets |
| 2.42B | 2.92B | 2.89B | 3.13B | 2.35B | Total Debt |
| 1.10B | 1.35B | 860.96M | 867.07M | 955.48M | Net Debt |
| 1.09B | 1.32B | 796.43M | 686.14M | 926.27M | Total Liabilities |
| 1.71B | 2.09B | 1.84B | 1.97B | 1.53B | Stockholders Equity |
| 706.62M | 831.26M | 1.04B | 1.16B | 819.68M |
| Cash Flow | Free Cash Flow | |||
| 239.53M | 266.78M | 572.81M | 251.69M | 217.72M | Operating Cash Flow |
| 320.42M | 372.17M | 653.73M | 305.36M | 256.83M | Investing Cash Flow |
| -79.94M | -412.49M | -170.71M | -107.40M | -538.17M | Financing Cash Flow |
| -259.45M | 10.73M | -591.87M | -34.90M | 211.49M |
AMN Healthcare Services Technical Analysis
Positive
22.69
Price Trends
21.83
Positive
23.75
Negative
32.22
Negative
Market Momentum
0.32
Negative
60.44
Neutral
66.44
Neutral
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 22.69 is above the 20-day moving average (MA) of 20.30, above the 50-day MA of 21.83, and below the 200-day MA of 32.22, indicating a neutral trend. The MACD of 0.32 indicates Negative momentum. The RSI at 60.44 is Neutral, neither overbought nor oversold. The STOCH value of 66.44 is Neutral, 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
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.08B | 26.44 | 8.37% | ― | 3.71% | 1.32% | |
69 Neutral | $1.04B | 39.43 | 11.28% | ― | 30.04% | 43.47% | |
64 Neutral | $869.66M | 45.59 | 5.40% | 0.40% | 3.36% | 7.51% | |
63 Neutral | $781.56M | ― | 222.83% | ― | 29.88% | 35.11% | |
54 Neutral | $868.68M | 18.62 | -21.08% | ― | -18.13% | -215.78% | |
52 Neutral | $5.15B | 3.02 | -44.64% | 2.83% | 16.44% | -0.47% | |
51 Neutral | $380.69M | ― | -13.84% | ― | 12.15% | 61.33% |
* Healthcare Sector Average
Performance Comparison
AMN
AMN Healthcare Services
22.69
-36.92
-61.94%
HCSG
Healthcare Services
14.80
3.35
29.26%
HSTM
HealthStream
28.49
1.07
3.90%
MYGN
Myriad Genetics
4.13
-20.88
-83.49%
XERS
Xeris Pharmaceuticals
4.88
2.83
138.05%
PNTG
Pennant Group
30.22
7.10
30.71%
AMN Healthcare Services Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 11.61%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Neutral
The earnings call reflected a mix of positive and negative aspects. While AMN Healthcare exceeded revenue and profit margin guidance, experienced strong performance in certain segments, and received industry recognition, the company also faced challenges such as a year-over-year revenue decline, pressure on Language Services margins, and a net loss for the quarter.Q1-2025 Updates
Positive Updates
Revenue and Profit Margin Exceed Guidance
AMN Healthcare reported first-quarter revenue of $690 million, which topped the high end of guidance by $10 million. The consolidated gross margin was 28.7%, slightly above the high end of the guidance range.
Strong Performance in Labor Disruption and Locum Tenens
The company recorded $39 million in revenue from two labor disruption events in the first quarter. Bookings for locum tenens picked up significantly, with expected sequential revenue growth in the upcoming quarter.
Robust Cash Flow and Debt Reduction
AMN Healthcare generated $93 million in operating cash flow in the first quarter, reducing the revolving credit balance by $60 million and adding $45 million of cash to the balance sheet.
Recognition for Innovation
AMN received industry recognition in the Modern Healthcare 2025 Innovators Award for its Workwise and AMN Passport technologies.
Negative Updates
Year-over-Year Revenue Decline
First-quarter revenue was down 16% from the prior year and down 6% sequentially.
Decline in Nurse and Allied Revenue
First-quarter Nurse and Allied revenue was $413 million, down 20% from the prior year due to lower volume and rates.
Language Services Margin Pressure
Gross margin for Language Services was affected by increased competition and industry consolidation, leading to lower margin performance.
Net Loss and Adjusted Earnings Decline
The company reported a net loss of $1 million for the first quarter. Adjusted earnings per share for the quarter was $0.45 compared with $0.97 in the prior year period.
Company Guidance
During the AMN Healthcare First Quarter 2025 Earnings Call, the company reported revenue of $690 million, exceeding the high end of guidance by $10 million, driven by strength in their labor disruption, Locum Tenens, and Allied businesses. The company achieved an adjusted EBITDA of $64 million and demonstrated robust cash flow, reducing its revolving credit balance by $60 million. For the second quarter, AMN anticipates revenue between $645 million to $660 million, with a projected gross margin of 28.5% to 29%. The company expects continued strong performance in labor disruption activities and sees sequential revenue growth in Locum Tenens, with Allied demand growing in the mid-teens year-over-year. Nurse and Allied Solutions reported a gross margin of 22.7%, 90 basis points above consensus, highlighting improvements in internal execution and recruiter productivity. The company remains focused on leveraging technology to enhance speed and service delivery, with significant investments in AI tools and the AMN Passport app. Despite a competitive environment, AMN continues to achieve client wins and maintain strong client retention rates, with a net leverage ratio of 3.1x to 1 as of March 31.AMN Healthcare Services Corporate Events
Shareholder Meetings
AMN Healthcare Approves 2025 Equity Plan at Meeting
Neutral
May 5, 2025
On May 2, 2025, AMN Healthcare Services, Inc. held its Annual Meeting of Shareholders, where the shareholders approved the AMN Healthcare 2025 Equity Plan and several other proposals. The meeting also saw the election of directors and the ratification of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. Notably, a shareholder proposal titled ‘Special Shareholder Meeting Improvement’ was not approved.
Spark’s Take on AMN Stock
According to Spark, TipRanks’ AI Analyst, AMN is a Neutral.
AMN Healthcare Services’ overall stock score reflects significant financial challenges, including negative profitability and declining equity. Despite strong cash flow and some earnings call positives, bearish technical indicators and a poor valuation weigh heavily on the overall outlook.
To see Spark’s full report on AMN stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.