AMN Healthcare Services (AMN) AI Stock Analysis

• Market Cap: $750.39M
• Dividend Yield: N/A
• Average Volume (3M): 707.20K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.44
• Revenue Growth: -14.33%
• EPS Growth: -398.68%
• Country: US
• Employees: 2,968
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): 0.30
• Shares Outstanding: 38,324,257
• 10 Day Avg. Volume: 664,334
• 30 Day Avg. Volume: 707,195
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 2.25
• Enterprise Value/Revenue: 0.61
• Enterprise Value/Gross Profit: 2.04
• Enterprise Value/Ebitda: -10.71
• 1Y Price Target: $20.83
• Price Target Upside: 6.38% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 8

• Rating: 52 Neutral
• Price Target: $19.50 ▼(-0.41% Downside)

AMN Healthcare Services is currently facing significant financial challenges, with declining revenue and profitability being the most impactful factors. While technical indicators and earnings call insights provide some optimism, the negative valuation metrics and high leverage pose substantial risks. The company's ability to improve its financial health and capitalize on strategic initiatives will be crucial for future performance.

Positive Factors

Debt Reduction

Reducing debt enhances financial flexibility and reduces interest expenses, improving long-term financial health and stability.

AMN Passport App Success

The app's success indicates strong digital engagement, enhancing service delivery and operational efficiency, supporting growth.

Improved Booking Trends

Improved booking trends suggest a recovery in demand, potentially stabilizing revenue streams and supporting future growth.

Negative Factors

Revenue Decline

Declining revenue indicates challenges in maintaining market share and demand, impacting long-term growth prospects.

High Leverage

High leverage can strain financial resources, limiting investment in growth opportunities and increasing financial risk.

Goodwill Impairment

Goodwill impairment reflects overvaluation of past acquisitions, indicating potential overpayment and impacting asset value.

AMN Healthcare Services Business Overview & Revenue Model

Company Description

AMN Healthcare Services, Inc. provides healthcare workforce solutions and staffing services to hospitals and healthcare facilities in the United States. It operates through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, rapid response nurse staffing and labor disruption, allied staffing, local staffing, and revenue cycle solutions. The Physician and Leadership Solutions segment provides locum tenens staffing, healthcare interim leadership staffing, executive search, and physician permanent placement solutions. The Technology and Workforce Solutions segment offers language services, vendor management systems, workforce optimization, telehealth, credentialing, and outsourced solutions. The company also provides allied health professionals, such as physical therapists, respiratory therapists, occupational therapists, medical and radiology technologists, lab technicians, speech pathologists, rehabilitation assistants, and pharmacists. It offers its services under the brands, including American Mobile, Nursefinders, NurseChoice, HealthSource Global Staffing, Onward Healthcare, O'Grady Peyton International, Med Travelers, Club Staffing, Staff Care, B.E. Smith, and Merritt Hawkins, as well as AMN Revenue Cycle Solutions and AMN Language Services. The company was founded in 1985 and is based in Dallas, Texas.

How the Company Makes Money

AMN Healthcare generates revenue primarily through its staffing and workforce solutions services. The company earns money by charging healthcare facilities for the provision of temporary and permanent staffing services, typically on a per-hour or per-placement basis. Key revenue streams include travel nursing, locum tenens staffing, and other allied healthcare staffing solutions. Additionally, AMN offers workforce management solutions and technology services, which contribute to its earnings. Significant partnerships with hospitals, healthcare systems, and other organizations enhance its market presence and drive revenue growth, as these collaborations often lead to long-term contracts and stable income streams.

AMN Healthcare Services Financial Statement Overview

Summary

AMN Healthcare Services is facing financial challenges with declining revenues and profitability, as indicated by negative profit margins and operational losses. The company has a high debt-to-equity ratio, which presents financial risk, though strong operating cash flow provides some liquidity cushion.

Income Statement

AMN Healthcare Services exhibits a declining revenue trend with a 23.7% decrease from 2022 to 2023 and a further decline in TTM. Gross profit margin has dropped from 32.7% in 2022 to 28.6% TTM, indicating reduced profitability. The net profit margin is negative in the TTM period, reflecting losses. EBIT and EBITDA margins have also turned negative, highlighting operational challenges.

Balance Sheet

The company has a relatively high debt-to-equity ratio of 1.45 TTM, signaling significant leverage. Return on equity is negative due to net losses, and equity ratio dropped to 29.9% TTM, indicating moderate financial health but with risk due to high liabilities.

Cash Flow

Cash flow from operations remains positive, with an operating cash flow to net income ratio of -2.01 TTM, indicating strong cash generation despite net losses. Free cash flow has grown slightly, but the free cash flow to net income ratio is also negative, reflecting operational challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.77B	2.98B	3.79B	5.24B	3.98B	2.39B
Gross Profit	826.56M	919.38M	1.25B	1.72B	1.31B	791.78M
EBITDA	-157.40M	71.11M	499.36M	784.21M	581.70M	243.45M
Net Income	-297.84M	-146.98M	210.68M	444.05M	327.39M	70.67M
Balance Sheet
Total Assets	2.21B	2.42B	2.92B	2.89B	3.13B	2.35B
Cash, Cash Equivalents and Short-Term Investments	41.50M	10.65M	32.94M	64.52M	180.93M	29.21M
Total Debt	955.77M	1.10B	1.35B	860.96M	867.07M	955.48M
Total Liabilities	1.60B	1.71B	2.09B	1.84B	1.97B	1.53B
Stockholders Equity	607.60M	706.62M	831.26M	1.04B	1.16B	819.68M
Cash Flow
Free Cash Flow	255.48M	239.53M	266.78M	572.81M	251.69M	217.72M
Operating Cash Flow	310.74M	320.42M	372.17M	653.73M	305.36M	256.83M
Investing Cash Flow	-82.84M	-79.94M	-412.49M	-170.71M	-107.40M	-538.17M
Financing Cash Flow	-281.80M	-259.45M	10.73M	-591.87M	-34.90M	211.49M

AMN Healthcare Services Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 19.58
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMN, the sentiment is Negative. The current price of 19.58 is below the 20-day moving average (MA) of 19.94, below the 50-day MA of 19.70, and below the 200-day MA of 21.49, indicating a bearish trend. The MACD of 0.15 indicates Positive momentum. The RSI at 47.59 is Neutral, neither overbought nor oversold. The STOCH value of 14.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AMN.

AMN Healthcare Services Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASTH	―	$1.65B	63.91	3.50%	―	51.97%	-64.10%
HCSG	―	$1.26B	33.09	8.07%	―	6.26%	-19.33%
AVAH	―	$1.89B	120.35	―	―	11.53%	―
AMN	―	$750.39M	―	-40.13%	―	-14.33%	-398.68%
Sector *	―	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CCRN	―	$403.28M	-47.55	-1.96%	―	-24.30%	-210.27%
MODVQ	―	$14.35K	>-0.01	―	―	-0.70%	-2.38%

AMN Healthcare Services Corporate Events

AMN Healthcare Issues $400M Senior Notes for Refinancing

On October 6, 2025, AMN Healthcare, Inc., a subsidiary of AMN Healthcare Services, Inc., issued $400 million in 6.500% Senior Notes due in 2031. This issuance, part of a strategic financial maneuver, is aimed at refinancing existing debt and optimizing the company’s capital structure. Concurrently, the company amended its existing credit agreement, reducing its revolving credit facility from $750 million to $450 million and extending its maturity to 2030. These actions are expected to enhance financial flexibility and support the company’s long-term growth objectives.

The most recent analyst rating on (AMN) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on AMN Healthcare Services stock, see the AMN Stock Forecast page.

AMN Healthcare Announces $400M Senior Notes Offering

On September 22, 2025, AMN Healthcare announced an unregistered offering of $400 million in senior unsecured notes due 2031, with the proceeds intended to redeem $500 million of notes due 2027 and cover related expenses. This strategic financial move aims to optimize the company’s debt structure, potentially enhancing its financial flexibility and market positioning.

The most recent analyst rating on (AMN) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on AMN Healthcare Services stock, see the AMN Stock Forecast page.

AMN Healthcare Services Amends Credit Agreement Terms

AMN Healthcare Services announced plans to amend its existing Credit Agreement, originally dated February 9, 2018. The amendment will extend the maturity of its revolving credit facility to October 2030, reduce its size from $750 million to $450 million, and adjust the credit spread and leverage ratio terms. The final documentation for this amendment is expected to be executed in the fourth quarter of 2025, potentially impacting the company’s financial flexibility and operational strategy.

The most recent analyst rating on (AMN) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on AMN Healthcare Services stock, see the AMN Stock Forecast page.

AMN Healthcare’s Mixed Earnings Call: Strong Performance Amid Challenges

The recent earnings call for AMN Healthcare painted a mixed picture, showcasing both strong financial performance and strategic initiatives, while also highlighting some challenges. The company reported robust financial results and strategic advancements, such as the AMN Passport and AI technology, which were key positives. However, concerns were raised due to revenue declines, particularly in the Travel Nurse segment, and significant impairment charges. Despite these challenges, strategic debt reduction and anticipated growth in international staffing offer a glimmer of optimism for the future.

AMN Healthcare Reports Q2 2025 Financial Results

AMN Healthcare Services, Inc. is a leading provider of total talent solutions for healthcare organizations across the United States, offering a comprehensive network of healthcare professionals and workforce technologies.