AMN Healthcare Services (AMN) Financials

$21.06 -0.22 (-1.04%)

Closing price 03:59 PM Eastern

Extended Trading

$21.36 +0.30 (+1.43%)

As of 05:33 PM Eastern

Annual Income Statements for AMN Healthcare Services

This table shows AMN Healthcare Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	82	106	132	142	114	71	327	443	211	-147	-95
Consolidated Net Income / (Loss)	82	106	133	142	114	71	327	444	211	-147	-96
Net Income / (Loss) Continuing Operations	82	106	133	142	114	71	327	444	211	-147	-96
Total Pre-Tax Income	121	176	193	187	148	92	444	607	284	-173	-101
Total Operating Income	129	192	212	203	177	149	478	647	338	-103	-55
Total Gross Profit	469	620	644	696	743	792	1,310	1,717	1,250	919	774
Total Revenue	1,463	1,902	1,988	2,136	2,222	2,394	3,984	5,243	3,789	2,984	2,730
Operating Revenue	1,463	1,902	1,988	2,136	2,222	2,394	3,984	5,243	3,789	2,984	2,730
Total Cost of Revenue	994	1,283	1,344	1,440	1,479	1,602	2,675	3,527	2,540	2,064	1,956
Operating Cost of Revenue	994	1,283	1,344	1,440	1,479	1,602	2,675	3,527	2,540	2,064	1,956
Total Operating Expenses	340	428	432	494	567	643	832	1,070	911	1,022	830
Selling, General & Admin Expense	320	398	400	452	508	550	730	937	748	632	593
Depreciation Expense	21	30	32	41	59	93	101	133	155	167	148
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	-	0.00	0.00	-39
Impairment Charge	-	-	-	-	-	-	-	0.00	7.80	222	128
Total Other Income / (Expense), net	-7.79	-15	-20	-16	-28	-58	-34	-40	-54	-70	-46
Interest Expense	7.79	15	20	16	28	58	34	40	54	70	46
Income Tax Expense	39	70	60	45	35	21	117	163	74	-26	-5.36
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-0.17	-0.10	0.11	-0.26	-0.00	0.11	0.34	0.64	-0.52	-0.41	-0.31
Basic Earnings per Share	$1.72	$2.21	$2.77	$2.99	$2.44	$1.49	$6.87	$9.96	$5.38	($3.85)	($2.48)
Weighted Average Basic Shares Outstanding	47.53M	47.95M	47.81M	47.37M	46.70M	47.42M	47.69M	44.59M	39.17M	38.19M	38.52M
Diluted Earnings per Share	$1.68	$2.15	$2.68	$2.91	$2.40	$1.48	$6.81	$9.90	$5.36	($3.85)	($2.48)
Weighted Average Diluted Shares Outstanding	48.84M	49.27M	49.43M	48.67M	47.59M	47.69M	48.05M	44.87M	39.34M	38.19M	38.52M
Weighted Average Basic & Diluted Shares Outstanding	47.53M	47.95M	47.81M	47.40M	46.85M	47.42M	47.69M	44.59M	37.89M	38.19M	38.64M

This table shows AMN Healthcare Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	61	53	13	17	16	7.09	-187	-1.03	-116	29	-7.67
Consolidated Net Income / (Loss)	61	53	12	17	16	6.99	-188	-1.09	-116	29	-7.70
Net Income / (Loss) Continuing Operations	61	53	12	17	16	6.99	-188	-1.09	-116	29	-7.70
Total Pre-Tax Income	79	75	14	23	22	7.81	-226	0.18	-135	38	-4.16
Total Operating Income	92	87	34	40	38	22	-203	13	-124	48	8.12
Total Gross Profit	330	290	261	258	230	213	219	198	196	184	195
Total Revenue	991	853	818	821	741	688	735	690	658	634	748
Operating Revenue	991	853	818	821	741	688	735	690	658	634	748
Total Cost of Revenue	661	564	557	563	511	474	516	491	462	450	553
Operating Cost of Revenue	661	564	557	563	511	474	516	491	462	450	553
Total Operating Expenses	239	203	227	218	192	191	422	186	320	137	187
Selling, General & Admin Expense	202	163	185	175	149	150	159	148	155	139	152
Depreciation Expense	37	39	41	43	43	41	40	38	38	37	35
Total Other Income / (Expense), net	-12	-12	-20	-17	-16	-14	-23	-12	-11	-9.63	-12
Interest Expense	12	12	20	17	16	14	23	12	11	9.63	12
Income Tax Expense	19	22	1.52	5.99	5.73	0.82	-38	1.28	-19	8.70	3.53
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-0.05	-0.13	-0.19	-0.08	-0.18	-0.10	-0.05	-0.06	-0.15	-0.08	-0.02
Basic Earnings per Share	$1.56	$1.39	$0.40	$0.45	$0.43	$0.18	($4.91)	($0.03)	($3.02)	$0.76	($0.19)
Weighted Average Basic Shares Outstanding	39.15M	38.15M	39.17M	38.11M	38.17M	38.20M	38.19M	38.31M	38.41M	38.62M	38.52M
Diluted Earnings per Share	$1.55	$1.39	$0.40	$0.45	$0.42	$0.18	($4.90)	($0.03)	($3.02)	$0.76	($0.19)
Weighted Average Diluted Shares Outstanding	39.34M	38.33M	39.34M	38.20M	38.23M	38.29M	38.19M	38.31M	38.41M	38.69M	38.52M
Weighted Average Basic & Diluted Shares Outstanding	37.99M	37.79M	37.89M	38.00M	38.00M	38.07M	38.19M	38.28M	38.32M	38.41M	38.64M

This table details how cash moves in and out of AMN Healthcare Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-3.50	2.11	48	-15	70	-70	163	-109	-30	-19	-22
Net Cash From Operating Activities	56	134	161	227	225	257	305	654	372	320	269
Net Cash From Continuing Operating Activities	56	134	161	227	225	257	305	654	372	320	269
Net Income / (Loss) Continuing Operations	82	106	133	142	114	71	327	444	211	-147	-96
Consolidated Net Income / (Loss)	82	106	133	142	114	71	327	444	211	-147	-96
Depreciation Expense	21	30	32	41	59	94	104	137	161	174	157
Non-Cash Adjustments To Reconcile Net Income	-11	24	31	6.54	3.09	40	-131	72	61	259	127
Changes in Operating Assets and Liabilities, net	-36	-26	-35	38	50	52	5.60	0.90	-61	35	81
Net Cash From Investing Activities	-116	-258	-35	-279	-292	-538	-107	-171	-412	-80	4.30
Net Cash From Continuing Investing Activities	-116	-258	-35	-279	-292	-538	-107	-171	-412	-80	4.30
Purchase of Property, Plant & Equipment	-27	-22	-27	-35	-35	-38	-54	-76	-104	-81	-36
Acquisitions	-86	-218	-3.50	-225	-249	-478	-41	-75	-294	1.65	0.00
Purchase of Investments	0.00	-13	-15	-34	-26	-48	-61	-13	0.00	-1.38	-36
Divestitures	-	-	-	0.00	0.00	0.07	-	0.00	0.00	0.00	65
Sale and/or Maturity of Investments	0.00	2.00	20	25	32	33	58	14	9.97	9.10	11
Other Investing Activities, net	-3.00	-6.91	-11	-11	-13	-7.66	-8.99	-22	-25	-8.41	0.02
Net Cash From Financing Activities	56	126	-77	38	137	211	-35	-592	11	-259	-296
Net Cash From Continuing Financing Activities	56	126	-77	38	137	211	-35	-592	11	-259	-296
Repayment of Debt	-33	-381	-44	-77	-376	-818	-92	0.00	-359	-376	-824
Repurchase of Preferred Equity	-	-	-	-	-	-	-	-	-	-3.70	0.00
Repurchase of Common Equity	0.00	-13	-20	-67	-19	0.00	-2.69	-577	-425	0.00	0.00
Issuance of Debt	90	524	0.00	195	551	1,047	70	0.00	815	125	530
Other Financing Activities, net	-4.46	-3.57	-13	-13	-19	-18	-10	-15	-21	-4.77	-2.09
Cash Interest Paid	5.81	8.06	18	21	24	23	38	38	48	61	45
Cash Income Taxes Paid	33	73	74	31	38	46	106	214	78	28	7.85

This table details how cash moves in and out of AMN Healthcare Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-28	33	-1.37	21	-2.93	-16	-21	5.41	-22	10	-16
Net Cash From Operating Activities	198	172	-41	81	100	67	73	93	79	23	76
Net Cash From Continuing Operating Activities	198	172	-41	81	100	67	73	93	79	23	76
Net Income / (Loss) Continuing Operations	61	53	12	17	16	6.99	-188	-1.09	-116	29	-7.70
Consolidated Net Income / (Loss)	61	53	12	17	16	6.99	-188	-1.09	-116	29	-7.70
Depreciation Expense	38	41	43	45	45	43	41	40	40	40	37
Non-Cash Adjustments To Reconcile Net Income	117	-2.76	68	28	30	16	232	18	148	-27	-12
Changes in Operating Assets and Liabilities, net	-19	81	-164	-8.20	8.59	0.26	-13	36	7.34	-20	58
Net Cash From Investing Activities	-22	-34	-324	-21	-22	-22	-14	-26	-21	59	-8.05
Net Cash From Continuing Investing Activities	-22	-34	-324	-21	-22	-22	-14	-26	-21	59	-8.05
Purchase of Property, Plant & Equipment	-26	-30	-30	-18	-27	-19	-16	-9.98	-9.80	-7.91	-7.95
Purchase of Investments	-	-	-	0.00	-	-	-	-22	-12	-0.96	-1.07
Divestitures	-	-	-	-	-	-	-	-	-	-	-0.04
Sale and/or Maturity of Investments	4.98	2.98	-	1.21	3.29	1.21	3.40	7.24	-	2.54	1.00
Net Cash From Financing Activities	-203	-105	363	-39	-80	-60	-80	-61	-80	-71	-83
Net Cash From Continuing Financing Activities	-203	-105	363	-39	-80	-60	-80	-61	-80	-71	-83
Repayment of Debt	-150	-110	-25	-50	-90	-120	-116	-95	-90	-101	-538
Issuance of Debt	200	15	390	15	10	60	40	35	10	30	455
Other Financing Activities, net	-3.29	-10	-1.21	-3.97	-0.11	-0.47	-3.93	-1.21	-0.23	-0.27	-0.39
Cash Interest Paid	22	2.44	23	7.54	25	5.40	23	2.94	21	0.79	21
Cash Income Taxes Paid	4.33	1.10	67	4.31	13	4.10	6.48	2.14	9.09	-2.90	-0.48

This table presents AMN Healthcare Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	880	1,187	1,254	1,493	1,932	2,354	3,132	2,888	2,924	2,416	2,094
Total Current Assets	376	451	474	482	560	534	1,349	1,094	842	595	545
Cash & Equivalents	9.58	11	15	14	83	29	181	65	33	11	34
Accounts Receivable	329	391	392	416	425	450	1,029	944	741	508	431
Prepaid Expenses	14	14	17	12	12	14	72	19	22	23	21
Other Current Assets	24	35	51	40	40	41	67	66	46	53	60
Plant, Property, & Equipment, net	50	60	73	90	105	116	127	149	191	186	136
Total Noncurrent Assets	455	676	706	920	1,266	1,704	1,656	1,645	1,891	1,635	1,412
Long-Term Investments	-	-	-	59	62	61	64	61	69	72	46
Goodwill	205	342	341	439	596	864	892	935	1,112	897	756
Intangible Assets	175	246	227	326	398	565	514	477	474	381	284
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	0.00	26	45
Other Noncurrent Operating Assets	48	58	74	96	210	213	184	172	237	258	283
Total Liabilities & Shareholders' Equity	880	1,187	1,254	1,493	1,932	2,354	3,132	2,888	2,924	2,416	2,094
Total Liabilities	533	737	691	854	1,195	1,534	1,970	1,845	2,093	1,709	1,452
Total Current Liabilities	251	275	265	307	378	423	969	858	656	546	578
Accounts Payable	119	138	130	150	156	168	425	476	344	184	162
Current Employee Benefit Liabilities	84	108	121	135	171	213	354	333	279	288	299
Other Current Liabilities	5.37	17	5.15	10	39	26	174	48	34	74	117
Total Noncurrent Liabilities	282	463	426	546	817	1,111	1,000	987	1,437	1,163	874
Long-Term Debt	181	359	320	441	617	858	842	844	1,305	1,056	767
Other Noncurrent Operating Liabilities	78	82	79	79	153	186	110	121	109	107	107
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	348	449	563	639	737	820	1,162	1,044	831	707	642
Total Preferred & Common Equity	348	449	563	639	737	820	1,162	1,044	831	707	642
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	348	449	563	639	737	820	1,162	1,044	831	707	642
Common Stock	444	453	454	453	456	469	487	502	507	529	560
Retained Earnings	-96	9.67	142	286	400	470	797	1,241	1,452	1,305	1,209
Treasury Stock	0.00	-13	-33	-100	-119	-119	-122	-699	-1,127	-1,127	-1,127
Accumulated Other Comprehensive Income / (Loss)	-0.18	0.00	-0.11	0.15	0.15	0.04	-0.30	-0.94	-0.42	-0.01	0.30

This table presents AMN Healthcare Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	3,009	3,018	2,881	2,644	2,655	2,874	2,771	2,668	2,395	2,212	2,139
Total Current Assets	1,190	1,206	1,071	807	831	791	705	612	627	571	570
Cash & Equivalents	79	156	29	7.01	29	51	48	31	56	42	53
Accounts Receivable	1,029	979	964	748	742	676	590	520	487	447	443
Prepaid Expenses	27	17	27	18	18	25	20	17	25	19	18
Other Current Assets	54	55	52	34	42	39	47	45	60	64	57
Plant, Property, & Equipment, net	136	141	155	177	188	195	197	197	178	158	147
Total Noncurrent Assets	1,682	1,671	1,655	1,659	1,636	1,888	1,870	1,859	1,590	1,483	1,422
Long-Term Investments	62	65	68	72	70	72	72	72	45	44	44
Goodwill	936	936	935	936	936	1,115	1,116	1,117	897	756	756
Intangible Assets	516	499	454	432	410	449	425	402	362	323	302
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	32	60	43
Other Noncurrent Operating Assets	169	171	197	220	221	252	257	267	254	258	277
Total Liabilities & Shareholders' Equity	3,009	3,018	2,881	2,644	2,655	2,874	2,771	2,668	2,395	2,212	2,139
Total Liabilities	1,969	1,886	1,925	1,878	1,838	2,019	1,894	1,777	1,680	1,605	1,495
Total Current Liabilities	957	891	804	674	707	624	574	519	582	574	542
Accounts Payable	459	459	474	328	363	316	283	213	196	176	171
Current Employee Benefit Liabilities	416	339	269	262	264	281	268	282	269	275	293
Other Current Liabilities	66	78	61	85	81	27	22	24	117	123	78
Total Noncurrent Liabilities	1,012	994	1,122	1,204	1,130	1,396	1,321	1,259	1,098	1,031	952
Long-Term Debt	843	843	984	1,034	939	1,270	1,190	1,131	996	916	847
Other Noncurrent Operating Liabilities	118	109	122	163	160	110	110	111	102	108	106
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,039	1,133	956	766	817	854	877	891	715	608	644
Total Preferred & Common Equity	1,039	1,133	956	766	817	854	877	891	715	608	644
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,039	1,133	956	766	817	854	877	891	715	608	644
Common Stock	497	498	506	468	506	513	519	526	538	547	554
Retained Earnings	1,067	1,159	1,325	1,386	1,439	1,469	1,485	1,492	1,304	1,187	1,217
Treasury Stock	-524	-524	-875	-1,087	-1,127	-1,127	-1,127	-1,127	-1,127	-1,127	-1,127
Accumulated Other Comprehensive Income / (Loss)	-0.87	-1.09	-0.79	-0.74	-0.61	-0.34	-0.16	-0.06	0.05	0.20	0.28

This table displays calculated financial ratios and metrics derived from AMN Healthcare Services' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	41.22%	30.02%	4.53%	7.42%	4.03%	7.72%	66.45%	31.60%	-27.73%	-21.26%	-8.49%
EBITDA Growth	78.59%	47.67%	10.55%	-0.30%	-3.58%	3.54%	138.94%	34.82%	-36.32%	-85.76%	42.22%
EBIT Growth	89.80%	48.69%	10.86%	-4.52%	-12.78%	-15.63%	220.23%	35.38%	-47.70%	-130.34%	45.97%
NOPAT Growth	126.70%	32.09%	26.89%	5.41%	-11.81%	-15.14%	205.88%	34.35%	-47.05%	-128.66%	45.97%
Net Income Growth	146.53%	29.24%	25.25%	6.93%	-19.58%	-38.01%	363.30%	35.63%	-52.56%	-169.76%	34.89%
EPS Growth	143.48%	27.98%	24.65%	8.58%	-17.53%	-38.33%	360.14%	45.37%	-45.86%	-171.83%	35.58%
Operating Cash Flow Growth	103.46%	137.79%	19.87%	41.41%	-0.94%	14.21%	18.90%	114.09%	-43.07%	-13.90%	-15.90%
Free Cash Flow Firm Growth	-537.28%	-120.31%	190.25%	-143.58%	-34.38%	-302.51%	169.22%	154.20%	-104.66%	1,385.11%	10.38%
Invested Capital Growth	37.47%	45.52%	4.22%	25.35%	20.10%	31.69%	10.50%	0.14%	15.49%	-17.41%	-20.86%
Revenue Q/Q Growth	9.17%	4.70%	1.08%	0.92%	2.69%	1.89%	22.50%	-4.33%	-7.50%	-2.72%	0.50%
EBITDA Q/Q Growth	14.19%	7.71%	1.75%	-0.08%	1.05%	-4.36%	32.79%	-4.75%	-13.81%	-77.02%	196.04%
EBIT Q/Q Growth	15.58%	7.54%	1.64%	-1.47%	-1.78%	-10.93%	41.39%	-7.08%	-20.09%	-176.59%	79.16%
NOPAT Q/Q Growth	13.92%	8.36%	11.43%	-6.19%	-0.74%	-4.27%	37.68%	-6.48%	-20.10%	-167.82%	79.16%
Net Income Q/Q Growth	14.34%	6.21%	12.58%	-3.77%	-6.66%	-20.46%	48.49%	-7.19%	-24.75%	-377.09%	65.27%
EPS Q/Q Growth	15.07%	5.91%	12.13%	-3.32%	-5.51%	-21.28%	48.37%	-4.53%	-22.32%	-365.52%	65.51%
Operating Cash Flow Q/Q Growth	-7.41%	56.63%	6.17%	0.23%	9.61%	-13.13%	14.27%	6.06%	-29.60%	55.19%	1.03%
Free Cash Flow Firm Q/Q Growth	6.15%	25.81%	5.63%	-9.84%	13.55%	-6.92%	13.12%	8.30%	-105.33%	281.70%	-7.83%
Invested Capital Q/Q Growth	6.23%	-0.50%	0.63%	-0.07%	-0.99%	0.01%	4.46%	0.35%	22.75%	-12.43%	-4.63%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.08%	32.58%	32.41%	32.60%	33.46%	33.08%	32.87%	32.74%	32.98%	30.81%	28.35%
EBITDA Margin	10.24%	11.63%	12.30%	11.42%	10.58%	10.17%	14.60%	14.96%	13.18%	2.38%	3.70%
Operating Margin	8.81%	10.07%	10.68%	9.50%	7.96%	6.24%	12.00%	12.34%	8.93%	-3.44%	-2.03%
EBIT Margin	8.81%	10.07%	10.68%	9.50%	7.96%	6.24%	12.00%	12.34%	8.93%	-3.44%	-2.03%
Profit (Net Income) Margin	5.60%	5.56%	6.67%	6.64%	5.13%	2.95%	8.22%	8.47%	5.56%	-4.93%	-3.51%
Tax Burden Percent	67.63%	60.08%	68.77%	75.93%	76.77%	77.21%	73.75%	73.19%	74.11%	85.17%	94.70%
Interest Burden Percent	93.96%	91.93%	90.74%	92.04%	83.93%	61.32%	92.87%	93.76%	84.00%	168.08%	182.19%
Effective Tax Rate	32.37%	39.92%	31.23%	24.07%	23.23%	22.79%	26.25%	26.81%	25.89%	0.00%	0.00%
Return on Invested Capital (ROIC)	19.06%	17.71%	18.57%	17.02%	12.26%	8.23%	21.04%	26.91%	13.22%	-3.87%	-2.58%
ROIC Less NNEP Spread (ROIC-NNEP)	15.66%	14.02%	13.75%	12.99%	7.06%	1.06%	17.37%	22.41%	9.04%	-10.77%	-9.43%
Return on Net Nonoperating Assets (RNNOA)	8.04%	8.84%	7.63%	6.57%	4.31%	0.85%	12.00%	13.36%	9.26%	-15.24%	-11.61%
Return on Equity (ROE)	27.10%	26.55%	26.20%	23.59%	16.57%	9.08%	33.04%	40.26%	22.47%	-19.11%	-14.19%
Cash Return on Invested Capital (CROIC)	-12.49%	-19.37%	14.44%	-5.47%	-6.01%	-19.12%	11.06%	26.77%	-1.16%	15.20%	20.71%
Operating Return on Assets (OROA)	16.51%	18.54%	17.41%	14.77%	10.33%	6.97%	17.43%	21.50%	11.64%	-3.85%	-2.46%
Return on Assets (ROA)	10.49%	10.24%	10.86%	10.32%	6.66%	3.30%	11.94%	14.75%	7.25%	-5.50%	-4.24%
Return on Common Equity (ROCE)	27.10%	26.55%	26.20%	23.59%	16.57%	9.08%	33.04%	40.26%	22.47%	-19.11%	-14.19%
Return on Equity Simple (ROE_SIMPLE)	23.54%	23.55%	23.56%	22.18%	15.47%	8.62%	28.17%	42.55%	25.34%	-20.80%	0.00%
Net Operating Profit after Tax (NOPAT)	87	115	146	154	136	115	353	474	251	-72	-39
NOPAT Margin	5.96%	6.05%	7.35%	7.21%	6.11%	4.81%	8.85%	9.03%	6.62%	-2.41%	-1.42%
Net Nonoperating Expense Percent (NNEP)	3.40%	3.70%	4.82%	4.03%	5.20%	7.17%	3.67%	4.50%	4.18%	6.90%	6.85%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	25.10%	11.74%	-4.08%	-2.76%
Cost of Revenue to Revenue	67.92%	67.42%	67.59%	67.40%	66.54%	66.92%	67.13%	67.26%	67.02%	69.19%	71.65%
SG&A Expenses to Revenue	21.84%	20.95%	20.10%	21.18%	22.86%	22.97%	18.33%	17.86%	19.96%	21.20%	21.72%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.27%	22.50%	21.72%	23.11%	25.50%	26.84%	20.87%	20.40%	24.05%	34.25%	30.38%
Earnings before Interest and Taxes (EBIT)	129	192	212	203	177	149	478	647	338	-103	-55
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	150	221	245	244	235	243	582	784	499	71	101
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.26	4.11	4.18	4.16	3.95	3.92	4.98	4.27	3.40	1.29	0.94
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.01	0.97	1.18	1.24	1.31	1.34	1.45	0.85	0.75	0.31	0.22
Price to Earnings (P/E)	18.05	17.43	17.76	18.70	25.53	45.50	17.68	10.05	13.40	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.54%	5.74%	5.63%	5.35%	3.92%	2.20%	5.66%	9.95%	7.46%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.19	2.86	3.31	3.00	2.80	2.50	3.63	2.94	1.98	1.12	0.97
Enterprise Value to Revenue (EV/Rev)	1.16	1.16	1.34	1.42	1.52	1.66	1.60	0.99	1.06	0.63	0.47
Enterprise Value to EBITDA (EV/EBITDA)	11.28	9.94	10.87	12.40	14.39	16.36	10.97	6.60	8.08	26.50	12.78
Enterprise Value to EBIT (EV/EBIT)	13.11	11.48	12.51	14.90	19.12	26.68	13.35	8.00	11.92	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	19.39	19.11	18.19	19.63	24.91	34.55	18.10	10.92	16.08	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	30.01	16.43	16.56	13.32	15.04	15.50	20.89	7.91	10.84	5.88	4.80
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	23.39	0.00	0.00	0.00	34.42	10.98	0.00	6.67	4.15
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.63	0.81	0.57	0.69	0.84	1.05	0.72	0.81	1.57	1.49	1.19
Long-Term Debt to Equity	0.52	0.80	0.57	0.69	0.84	1.05	0.72	0.81	1.57	1.49	1.19
Financial Leverage	0.51	0.63	0.55	0.51	0.61	0.80	0.69	0.60	1.02	1.42	1.23
Leverage Ratio	2.58	2.59	2.41	2.29	2.49	2.75	2.77	2.73	3.10	3.47	3.34
Compound Leverage Factor	2.43	2.38	2.19	2.10	2.09	1.69	2.57	2.56	2.60	5.84	6.09
Debt to Total Capital	38.58%	44.68%	36.25%	40.81%	45.58%	51.28%	42.02%	44.70%	61.08%	59.91%	54.43%
Short-Term Debt to Total Capital	6.62%	0.46%	0.00%	0.00%	0.00%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	31.96%	44.22%	36.25%	40.81%	45.58%	51.00%	42.02%	44.70%	61.08%	59.91%	54.43%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	61.42%	55.32%	63.75%	59.19%	54.42%	48.72%	57.98%	55.30%	38.92%	40.09%	45.57%
Debt to EBITDA	1.46	1.64	1.31	1.81	2.62	3.54	1.45	1.08	2.61	14.85	7.59
Net Debt to EBITDA	1.39	1.59	1.25	1.51	2.01	3.17	1.03	0.92	2.41	13.69	6.80
Long-Term Debt to EBITDA	1.21	1.62	1.31	1.81	2.62	3.52	1.45	1.08	2.61	14.85	7.59
Debt to NOPAT	2.51	3.15	2.19	2.86	4.54	7.49	2.39	1.78	5.20	-14.69	-19.75
Net Debt to NOPAT	2.40	3.06	2.09	2.39	3.48	6.70	1.69	1.52	4.80	-13.54	-17.70
Long-Term Debt to NOPAT	2.08	3.12	2.19	2.86	4.54	7.44	2.39	1.78	5.20	-14.69	-19.75
Altman Z-Score	3.83	3.83	4.55	4.15	3.32	2.82	4.04	4.70	3.26	2.20	2.26
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.50	1.64	1.79	1.57	1.48	1.26	1.39	1.27	1.28	1.09	0.94
Quick Ratio	1.35	1.46	1.53	1.40	1.34	1.13	1.25	1.18	1.18	0.95	0.80
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-57	-126	114	-50	-67	-268	185	471	-22	282	312
Operating Cash Flow to CapEx	208.49%	609.90%	605.07%	644.76%	638.49%	681.20%	569.98%	862.09%	358.93%	396.11%	756.29%
Free Cash Flow to Firm to Interest Expense	-7.33	-8.14	5.77	-3.07	-2.34	-4.64	5.44	11.66	-0.41	4.04	6.83
Operating Cash Flow to Interest Expense	7.23	8.66	8.16	14.06	7.91	4.45	8.96	16.18	6.87	4.58	5.91
Operating Cash Flow Less CapEx to Interest Expense	3.76	7.24	6.81	11.88	6.67	3.79	7.39	14.31	4.96	3.43	5.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.87	1.84	1.63	1.56	1.30	1.12	1.45	1.74	1.30	1.12	1.21
Accounts Receivable Turnover	5.38	5.28	5.08	5.29	5.28	5.47	5.39	5.31	4.50	4.78	5.82
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	35.25	34.56	29.82	26.07	22.76	21.66	32.75	37.94	22.25	15.80	16.93
Accounts Payable Turnover	10.05	10.01	10.04	10.29	9.67	9.89	9.02	7.82	6.19	7.82	11.30
Days Sales Outstanding (DSO)	67.80	69.08	71.84	68.99	69.10	66.75	67.74	68.68	81.18	76.42	62.76
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	36.33	36.48	36.37	35.48	37.74	36.91	40.47	46.66	58.95	46.69	32.30
Cash Conversion Cycle (CCC)	31.47	32.60	35.47	33.51	31.37	29.83	27.27	22.02	22.23	29.73	30.45
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	529	770	803	1,006	1,209	1,592	1,759	1,761	2,034	1,680	1,330
Invested Capital Turnover	3.20	2.93	2.53	2.36	2.01	1.71	2.38	2.98	2.00	1.61	1.81
Increase / (Decrease) in Invested Capital	144	241	32	204	202	383	167	2.46	273	-354	-350
Enterprise Value (EV)	1,690	2,200	2,657	3,023	3,383	3,982	6,380	5,174	4,033	1,884	1,293
Market Capitalization	1,481	1,848	2,353	2,656	2,911	3,210	5,783	4,456	2,830	911	605
Book Value per Share	$7.29	$9.35	$11.78	$13.63	$15.77	$17.43	$24.58	$24.08	$22.00	$18.56	$16.72
Tangible Book Value per Share	($0.67)	($2.87)	($0.11)	($2.68)	($5.51)	($12.96)	($5.18)	($8.50)	($19.96)	($15.03)	($10.34)
Total Capital	566	812	882	1,080	1,354	1,682	2,004	1,887	2,136	1,762	1,409
Total Debt	218	363	320	441	617	863	842	844	1,305	1,056	767
Total Long-Term Debt	181	359	320	441	617	858	842	844	1,305	1,056	767
Net Debt	209	352	305	367	472	772	597	718	1,203	973	687
Capital Expenditures (CapEx)	27	22	27	35	35	38	54	76	104	81	36
Debt-free, Cash-free Net Working Capital (DFCFNWC)	153	169	194	161	99	86	199	171	153	38	-66
Debt-free Net Working Capital (DFNWC)	162	180	209	175	182	115	380	236	186	49	-32
Net Working Capital (NWC)	125	176	209	175	182	111	380	236	186	49	-32
Net Nonoperating Expense (NNE)	5.27	9.29	14	12	22	45	25	30	40	75	57
Net Nonoperating Obligations (NNO)	182	321	240	367	472	772	597	718	1,203	973	687
Total Depreciation and Amortization (D&A)	21	30	32	41	58	94	104	137	161	174	157
Debt-free, Cash-free Net Working Capital to Revenue	10.43%	8.88%	9.74%	7.54%	4.47%	3.60%	4.99%	3.26%	4.03%	1.29%	-2.42%
Debt-free Net Working Capital to Revenue	11.08%	9.44%	10.50%	8.19%	8.21%	4.82%	9.53%	4.50%	4.90%	1.65%	-1.18%
Net Working Capital to Revenue	8.52%	9.24%	10.50%	8.19%	8.21%	4.63%	9.53%	4.50%	4.90%	1.65%	-1.18%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.72	$2.21	$2.77	$2.99	$2.44	$1.49	$6.87	$9.96	$5.38	($3.85)	($2.48)
Adjusted Weighted Average Basic Shares Outstanding	47.53M	47.95M	47.81M	47.37M	46.70M	47.42M	47.69M	44.59M	39.17M	38.19M	38.52M
Adjusted Diluted Earnings per Share	$1.68	$2.15	$2.68	$2.91	$2.40	$1.48	$6.81	$9.90	$5.36	($3.85)	($2.48)
Adjusted Weighted Average Diluted Shares Outstanding	48.84M	49.27M	49.43M	48.67M	47.59M	47.69M	48.05M	44.87M	39.34M	38.19M	38.52M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	47.53M	47.72M	47.66M	46.87M	46.85M	47.18M	46.64M	44.59M	37.89M	38.19M	38.64M
Normalized Net Operating Profit after Tax (NOPAT)	87	115	146	154	136	115	353	474	251	84	51
Normalized NOPAT Margin	5.96%	6.05%	7.35%	7.21%	6.11%	4.81%	8.85%	9.03%	6.62%	2.81%	1.85%
Pre Tax Income Margin	8.28%	9.26%	9.69%	8.74%	6.68%	3.82%	11.14%	11.57%	7.50%	-5.78%	-3.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	16.54	12.39	10.80	12.56	6.22	2.59	14.03	16.02	6.25	-1.47	-1.22
NOPAT to Interest Expense	11.19	7.44	7.42	9.54	4.78	2.00	10.34	11.72	4.63	-1.03	-0.85
EBIT Less CapEx to Interest Expense	13.08	10.97	9.45	10.38	4.98	1.93	12.45	14.14	4.34	-2.63	-2.00
NOPAT Less CapEx to Interest Expense	7.72	6.02	6.08	7.36	3.54	1.34	8.77	9.85	2.72	-2.19	-1.63
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	12.53%	15.21%	47.28%	16.41%	0.00%	0.82%	129.89%	201.61%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from AMN Healthcare Services' official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-30.51%	-25.04%	-27.30%	-27.11%	-25.28%	-19.44%	-10.21%	-16.00%	-11.14%	-7.71%	1.84%
EBITDA Growth	-40.08%	-25.22%	-50.85%	-48.66%	-36.55%	-48.84%	-308.37%	-38.00%	-201.71%	33.60%	128.15%
EBIT Growth	-50.06%	-36.26%	-71.35%	-68.21%	-58.89%	-74.40%	-692.78%	-68.69%	-428.31%	113.99%	104.01%
NOPAT Growth	-46.38%	-38.03%	-66.42%	-67.59%	-60.34%	-67.52%	-565.31%	-351.41%	-410.92%	84.30%	104.01%
Net Income Growth	-50.80%	-42.48%	-84.73%	-79.40%	-73.34%	-86.86%	-1,601.59%	-106.30%	-815.66%	319.06%	95.90%
EPS Growth	-44.04%	-33.81%	-79.38%	-77.72%	-72.90%	-87.05%	-1,325.00%	-106.67%	-819.05%	322.22%	96.12%
Operating Cash Flow Growth	-11.94%	51.41%	-135.66%	87.38%	-49.66%	-61.26%	277.03%	13.87%	-21.07%	-66.02%	3.79%
Free Cash Flow Firm Growth	1,897.06%	478.00%	-374.42%	-1,566.41%	-320.69%	-251.49%	187.65%	346.36%	331.88%	332.41%	67.68%
Invested Capital Growth	-1.11%	-5.59%	15.49%	8.58%	13.10%	15.77%	-17.41%	-19.55%	-27.99%	-27.33%	-20.86%
Revenue Q/Q Growth	-11.98%	-13.90%	-4.12%	0.32%	-9.77%	-7.18%	6.87%	-6.15%	-4.55%	-3.60%	17.92%
EBITDA Q/Q Growth	-21.04%	-1.73%	-39.44%	9.26%	-2.42%	-20.77%	-346.67%	132.51%	-260.09%	204.07%	-48.02%
EBIT Q/Q Growth	-27.06%	-5.17%	-60.69%	16.90%	-5.67%	-40.95%	-1,010.26%	106.17%	-1,089.17%	138.49%	-82.95%
NOPAT Q/Q Growth	-23.31%	-12.70%	-50.30%	-2.58%	-6.17%	-28.49%	-811.85%	47.36%	-16.04%	142.39%	-84.52%
Net Income Q/Q Growth	-27.59%	-12.70%	-76.51%	38.75%	-6.30%	-56.96%	-2,783.26%	99.42%	-10,541.21%	125.20%	-126.28%
EPS Q/Q Growth	-23.27%	-10.32%	-71.22%	12.50%	-6.67%	-57.14%	-2,822.22%	99.39%	-9,966.67%	125.17%	-125.00%
Operating Cash Flow Q/Q Growth	355.10%	-12.89%	-123.89%	297.88%	22.28%	-32.97%	9.16%	27.27%	-15.24%	-71.14%	233.42%
Free Cash Flow Firm Q/Q Growth	1,261.14%	77.91%	-252.04%	46.94%	-53.78%	-22.12%	187.97%	49.12%	44.73%	22.40%	-36.53%
Invested Capital Q/Q Growth	-6.60%	-3.75%	22.75%	-1.60%	-2.72%	-1.48%	-12.43%	-4.14%	-12.92%	-0.59%	-4.63%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.32%	33.92%	31.89%	31.37%	31.03%	30.99%	29.81%	28.73%	29.84%	29.06%	26.08%
EBITDA Margin	13.10%	14.96%	9.45%	10.29%	11.13%	9.50%	-21.92%	7.59%	-12.74%	13.75%	6.06%
Operating Margin	9.25%	10.19%	4.18%	4.87%	5.09%	3.24%	-27.57%	1.81%	-18.80%	7.50%	1.09%
EBIT Margin	9.25%	10.19%	4.18%	4.87%	5.09%	3.24%	-27.57%	1.81%	-18.80%	7.50%	1.09%
Profit (Net Income) Margin	6.14%	6.23%	1.53%	2.11%	2.19%	1.02%	-25.52%	-0.16%	-17.66%	4.62%	-1.03%
Tax Burden Percent	76.62%	70.54%	89.18%	74.31%	73.92%	89.51%	83.10%	-596.72%	86.03%	77.09%	184.91%
Interest Burden Percent	86.72%	86.72%	40.99%	58.37%	58.30%	35.09%	111.41%	1.46%	109.18%	79.78%	-51.27%
Effective Tax Rate	23.38%	29.46%	10.82%	25.69%	26.08%	10.49%	0.00%	696.72%	0.00%	22.91%	0.00%
Return on Invested Capital (ROIC)	17.93%	17.25%	7.44%	6.55%	6.63%	4.97%	-31.01%	-17.09%	-21.76%	9.49%	1.38%
ROIC Less NNEP Spread (ROIC-NNEP)	16.80%	16.14%	5.56%	5.34%	5.48%	3.59%	-35.21%	-9.89%	-24.93%	8.66%	-0.23%
Return on Net Nonoperating Assets (RNNOA)	15.42%	12.10%	5.70%	6.00%	6.76%	3.92%	-49.83%	-12.88%	-31.33%	10.02%	-0.29%
Return on Equity (ROE)	33.35%	29.35%	13.13%	12.56%	13.39%	8.89%	-80.83%	-29.98%	-53.09%	19.51%	1.09%
Cash Return on Invested Capital (CROIC)	21.41%	24.14%	-1.16%	1.61%	-4.31%	-8.69%	15.20%	16.63%	20.36%	20.41%	20.71%
Operating Return on Assets (OROA)	14.33%	14.71%	5.44%	5.89%	6.07%	3.73%	-30.81%	1.96%	-20.89%	8.48%	1.31%
Return on Assets (ROA)	9.52%	9.00%	1.99%	2.56%	2.62%	1.17%	-28.52%	-0.17%	-19.63%	5.22%	-1.25%
Return on Common Equity (ROCE)	33.35%	29.35%	13.13%	12.56%	13.39%	8.89%	-80.83%	-29.98%	-53.09%	19.51%	1.09%
Return on Equity Simple (ROE_SIMPLE)	41.66%	34.26%	0.00%	16.85%	11.32%	5.96%	0.00%	-23.13%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	70	61	30	30	28	20	-142	-75	-87	37	5.68
NOPAT Margin	7.09%	7.18%	3.72%	3.62%	3.76%	2.90%	-19.30%	-10.82%	-13.16%	5.79%	0.76%
Net Nonoperating Expense Percent (NNEP)	1.13%	1.11%	1.87%	1.21%	1.15%	1.38%	4.20%	-7.20%	3.17%	0.84%	1.61%
Return On Investment Capital (ROIC_SIMPLE)	-	-	1.43%	-	-	-	-8.04%	-4.36%	-5.68%	2.46%	0.40%
Cost of Revenue to Revenue	66.68%	66.08%	68.11%	68.63%	68.97%	69.01%	70.19%	71.27%	70.16%	70.94%	73.92%
SG&A Expenses to Revenue	20.35%	19.15%	22.67%	21.30%	20.12%	21.77%	21.63%	21.42%	23.49%	21.84%	20.33%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24.07%	23.74%	27.71%	26.50%	25.94%	27.75%	57.38%	26.92%	48.64%	21.56%	24.99%
Earnings before Interest and Taxes (EBIT)	92	87	34	40	38	22	-203	13	-124	48	8.12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	130	128	77	84	82	65	-161	52	-84	87	45
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.65	3.96	3.40	2.77	2.22	1.81	1.29	1.31	1.30	1.15	0.94
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.99	0.79	0.75	0.68	0.60	0.53	0.31	0.33	0.29	0.27	0.22
Price to Earnings (P/E)	13.55	11.54	13.40	16.36	19.50	30.06	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.38%	8.67%	7.46%	6.11%	5.13%	3.33%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.07	2.46	1.98	1.75	1.55	1.38	1.12	1.14	1.16	1.07	0.97
Enterprise Value to Revenue (EV/Rev)	1.21	1.00	1.06	1.01	0.93	0.86	0.63	0.64	0.59	0.55	0.47
Enterprise Value to EBITDA (EV/EBITDA)	8.49	7.04	8.08	8.37	8.11	8.53	26.50	46.90	0.00	0.00	12.78
Enterprise Value to EBIT (EV/EBIT)	11.17	9.62	11.92	13.89	15.18	19.69	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	15.03	12.99	16.08	18.55	20.61	24.90	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	11.23	7.71	10.84	8.56	9.67	12.78	5.88	5.52	5.22	5.59	4.80
Enterprise Value to Free Cash Flow (EV/FCFF)	14.25	9.89	0.00	113.35	0.00	0.00	6.67	6.09	4.76	4.41	4.15
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.35	1.15	1.57	1.49	1.36	1.27	1.49	1.39	1.51	1.31	1.19
Long-Term Debt to Equity	1.35	1.15	1.57	1.49	1.36	1.27	1.49	1.39	1.51	1.31	1.19
Financial Leverage	0.92	0.75	1.02	1.12	1.23	1.09	1.42	1.30	1.26	1.16	1.23
Leverage Ratio	3.13	2.91	3.10	3.18	3.30	3.12	3.47	3.36	3.36	3.13	3.34
Compound Leverage Factor	2.71	2.52	1.27	1.86	1.92	1.09	3.87	0.05	3.67	2.50	-1.71
Debt to Total Capital	57.44%	53.48%	61.08%	59.79%	57.58%	55.93%	59.91%	58.21%	60.13%	56.78%	54.43%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	57.44%	53.48%	61.08%	59.79%	57.58%	55.93%	59.91%	58.21%	60.13%	56.78%	54.43%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	42.56%	46.52%	38.92%	40.21%	42.42%	44.07%	40.09%	41.79%	39.87%	43.22%	45.57%
Debt to EBITDA	1.66	1.62	2.61	3.03	3.20	3.65	14.85	25.54	-7.20	-8.04	7.59
Net Debt to EBITDA	1.54	1.45	2.41	2.74	2.88	3.32	13.69	22.95	-6.53	-7.12	6.80
Long-Term Debt to EBITDA	1.66	1.62	2.61	3.03	3.20	3.65	14.85	25.54	-7.20	-8.04	7.59
Debt to NOPAT	2.94	2.99	5.20	6.71	8.13	10.67	-14.69	-10.94	-4.49	-4.55	-19.75
Net Debt to NOPAT	2.72	2.68	4.80	6.07	7.31	9.70	-13.54	-9.83	-4.07	-4.02	-17.70
Long-Term Debt to NOPAT	2.94	2.99	5.20	6.71	8.13	10.67	-14.69	-10.94	-4.49	-4.55	-19.75
Altman Z-Score	3.95	3.52	2.92	2.75	2.64	2.55	2.06	2.33	2.11	2.45	2.36
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.20	1.18	1.28	1.27	1.23	1.18	1.09	1.08	1.00	1.05	0.94
Quick Ratio	1.12	1.09	1.18	1.16	1.11	1.06	0.95	0.93	0.85	0.91	0.80
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	90	159	-242	-129	-198	-241	212	317	458	561	356
Operating Cash Flow to CapEx	747.35%	576.00%	-137.76%	448.53%	364.98%	346.33%	448.91%	929.03%	801.51%	286.62%	951.07%
Free Cash Flow to Firm to Interest Expense	7.36	13.81	-12.02	-7.73	-12.58	-16.71	9.19	25.70	40.35	58.28	29.00
Operating Cash Flow to Interest Expense	16.24	14.92	-2.04	4.89	6.33	4.62	3.15	7.52	6.91	2.35	6.15
Operating Cash Flow Less CapEx to Interest Expense	14.06	12.33	-3.52	3.80	4.60	3.28	2.45	6.71	6.05	1.53	5.51
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.55	1.44	1.30	1.21	1.19	1.15	1.12	1.08	1.11	1.13	1.21
Accounts Receivable Turnover	4.93	4.76	4.50	4.25	4.83	4.86	4.78	4.90	5.34	5.65	5.82
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	27.92	24.94	22.25	19.92	17.27	15.96	15.80	15.31	15.59	15.80	16.93
Accounts Payable Turnover	7.43	6.65	6.19	5.94	7.19	7.31	7.82	7.78	8.47	9.99	11.30
Days Sales Outstanding (DSO)	74.03	76.65	81.18	85.93	75.54	75.05	76.42	74.43	68.33	64.64	62.76
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	49.12	54.91	58.95	61.45	50.77	49.92	46.69	46.90	43.09	36.55	32.30
Cash Conversion Cycle (CCC)	24.91	21.75	22.23	24.49	24.78	25.12	29.73	27.53	25.24	28.09	30.45
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,722	1,657	2,034	2,002	1,947	1,919	1,680	1,610	1,402	1,394	1,330
Invested Capital Turnover	2.53	2.40	2.00	1.81	1.76	1.72	1.61	1.58	1.65	1.64	1.81
Increase / (Decrease) in Invested Capital	-19	-98	273	158	226	261	-354	-391	-545	-524	-350
Enterprise Value (EV)	5,282	4,076	4,033	3,510	3,017	2,639	1,884	1,829	1,622	1,492	1,293
Market Capitalization	4,326	3,236	2,830	2,362	1,947	1,611	911	934	791	742	605
Book Value per Share	$19.33	$21.51	$22.00	$22.41	$23.08	$23.44	$18.56	$18.72	$15.87	$16.81	$16.72
Tangible Book Value per Share	($15.18)	($13.91)	($19.96)	($18.62)	($17.47)	($16.54)	($15.03)	($14.25)	($12.30)	($10.79)	($10.34)
Total Capital	1,800	1,757	2,136	2,124	2,067	2,021	1,762	1,711	1,524	1,491	1,409
Total Debt	1,034	939	1,305	1,270	1,190	1,131	1,056	996	916	847	767
Total Long-Term Debt	1,034	939	1,305	1,270	1,190	1,131	1,056	996	916	847	767
Net Debt	956	840	1,203	1,148	1,070	1,028	973	895	831	750	687
Capital Expenditures (CapEx)	26	30	30	18	27	19	16	9.98	9.80	7.91	7.95
Debt-free, Cash-free Net Working Capital (DFCFNWC)	127	95	153	116	83	63	38	-11	-44	-24	-66
Debt-free Net Working Capital (DFNWC)	134	124	186	167	131	94	49	45	-2.29	28	-32
Net Working Capital (NWC)	134	124	186	167	131	94	49	45	-2.29	28	-32
Net Nonoperating Expense (NNE)	9.33	8.14	18	12	12	13	46	-74	30	7.42	13
Net Nonoperating Obligations (NNO)	956	840	1,203	1,148	1,070	1,028	973	895	795	750	687
Total Depreciation and Amortization (D&A)	38	41	43	45	45	43	41	40	40	40	37
Debt-free, Cash-free Net Working Capital to Revenue	2.89%	2.31%	4.03%	3.34%	2.56%	2.06%	1.29%	-0.37%	-1.58%	-0.90%	-2.42%
Debt-free Net Working Capital to Revenue	3.05%	3.03%	4.90%	4.79%	4.05%	3.06%	1.65%	1.58%	-0.08%	1.04%	-1.18%
Net Working Capital to Revenue	3.05%	3.03%	4.90%	4.79%	4.05%	3.06%	1.65%	1.58%	-0.08%	1.04%	-1.18%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.56	$1.39	$0.40	$0.45	$0.43	$0.18	($4.91)	($0.03)	($3.02)	$0.76	($0.19)
Adjusted Weighted Average Basic Shares Outstanding	39.15M	38.15M	39.17M	38.11M	38.17M	38.20M	38.19M	38.31M	38.41M	38.62M	38.52M
Adjusted Diluted Earnings per Share	$1.55	$1.39	$0.40	$0.45	$0.42	$0.18	($4.90)	($0.03)	($3.02)	$0.76	($0.19)
Adjusted Weighted Average Diluted Shares Outstanding	39.34M	38.33M	39.34M	38.20M	38.23M	38.29M	38.19M	38.31M	38.41M	38.69M	38.52M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.99M	37.79M	37.89M	38.00M	38.00M	38.07M	38.19M	38.28M	38.32M	38.41M	38.64M
Normalized Net Operating Profit after Tax (NOPAT)	70	61	30	30	28	20	-142	8.75	2.84	37	5.68
Normalized NOPAT Margin	7.09%	7.18%	3.72%	3.62%	3.76%	2.90%	-19.30%	1.27%	0.43%	5.79%	0.76%
Pre Tax Income Margin	8.02%	8.83%	1.71%	2.84%	2.97%	1.14%	-30.72%	0.03%	-20.52%	5.99%	-0.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.53	7.53	1.69	2.40	2.40	1.54	-8.76	1.01	-10.89	4.95	0.66
NOPAT to Interest Expense	5.77	5.31	1.51	1.79	1.77	1.38	-6.13	-6.06	-7.62	3.81	0.46
EBIT Less CapEx to Interest Expense	5.36	4.94	0.21	1.31	0.66	0.21	-9.46	0.21	-11.75	4.12	0.01
NOPAT Less CapEx to Interest Expense	3.60	2.72	0.03	0.69	0.04	0.05	-6.84	-6.87	-8.49	2.99	-0.18
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	187.82%	214.16%	201.61%	173.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, HTML-formatted summary of AMN Healthcare Services (NYSE: AMN) based on the last four years of quarterly income statements, balance sheets, and cash flow statements provided. It focuses on notable trends and what they might imply for retail investors looking at the company’s operating health and cash generation.

Q4 2025 Operating Revenue: $748,225,000. This places quarterly revenue in the high-700s million range, indicating a solid, stable revenue base into year-end 2025.
Q4 2025 Gross Profit: $195,127,000 (about 26% gross margin on revenue). This level of gross profit, while modestly compressing vs some prior periods, remains positive and supports ongoing profitability.
Q3 2025 Net Income Attributable to Common Shareholders: $29,368,000; Basic EPS $0.76 and Diluted EPS $0.76. A positively realized quarterly net income and earnings per share in Q3 2025 indicate a profitable quarter within the four-year window.
2025 Cash Flow from Operating Activities (CFO) was positive in all four quarters: Q1 $92,671,000; Q2 $78,548,000; Q3 $22,666,000; Q4 $75,572,000. This demonstrates sustained operating cash generation across the year.

2025 Free Cash Flow (FCF): Approximately $67.6 million (roughly CFO $75.6M minus mid-single-digit capex). Positive FCF suggests cash generation after maintenance capital expenditures.
Impairment expenses: Generally zero in 2025 quarters, indicating no material impairment charges that would cloud earnings power.
Working capital movements: Changes in Operating Assets and Liabilities net swung between quarters (e.g., +$57.8M in Q4 2025 vs. -$19.6M in Q3 2025), showing quarterly working-capital dynamics that can impact cash flow timing.

Net income volatility for common shareholders: Negative in several quarters (e.g., Q2 2025: −$116,057,000; Q1 2025: −$1,031,000; Q4 2025: −$7,673,000; Q4 2024: −$187,488,000). This highlights uneven quarterly profitability despite positive CFO.
Earnings per share (EPS) sensitivity: Negative in multiple quarters (e.g., Q2 2025 EPS −$3.02; Q4 2025 EPS −$0.19; Q1 2025 EPS −$0.03; Q4 2024 EPS −$4.91). This suggests ongoing earnings volatility for investors to consider.
Net financing cash outflows in 2025: Net cash from financing activities was negative in every 2025 quarter (examples: Q1 −$61,211,000; Q2 −$80,226,000; Q3 −$71,214,000; Q4 −$83,242,000), indicating continued debt service and other financing outflows rather than net cash inflows from financing.

Takeaways for investors:

AMN demonstrates solid operating cash flow generation across 2025, with revenue levels in the mid-to-high hundreds of millions and consistent gross profit. The standout positive is CFO remaining robust across all four quarters, which supports liquidity even when net income and EPS show volatility. Free cash flow in Q4 2025 also points to cash available for debt management, potential reinvestment, or shareholder-friendly actions in principle, though financing activity remains a cash outflow story in 2025 due to debt repayments and related financing needs. The balance sheet shows a meaningful liabilities base alongside a multi-hundred-million-dollar equity position, indicating a leveraged yet predisposing capital structure typical for a healthcare staffing company of this scale. Investors should weigh the earnings volatility and ongoing financing cash outflows against the steady CFO and cash generation when assessing AMN’s longer-term risk and return profile.

05/06/26 02:51 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About AMN Healthcare Services' Financials

When does AMN Healthcare Services' fiscal year end?

According to the most recent income statement we have on file, AMN Healthcare Services' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has AMN Healthcare Services' net income changed over the last 10 years?

AMN Healthcare Services' net income appears to be on a downward trend, with a most recent value of -$95.70 million in 2025, falling from $81.89 million in 2015. The previous period was -$146.98 million in 2024. View AMN Healthcare Services' forecast to see where analysts expect AMN Healthcare Services to go next.

What is AMN Healthcare Services' operating income?

AMN Healthcare Services' total operating income in 2025 was -$55.47 million, based on the following breakdown:

Total Gross Profit: $774.06 million
Total Operating Expenses: $829.53 million

How has AMN Healthcare Services' revenue changed over the last 10 years?

Over the last 10 years, AMN Healthcare Services' total revenue changed from $1.46 billion in 2015 to $2.73 billion in 2025, a change of 86.6%.

How much debt does AMN Healthcare Services have?

AMN Healthcare Services' total liabilities were at $1.45 billion at the end of 2025, a 15.0% decrease from 2024, and a 172.6% increase since 2015.

How much cash does AMN Healthcare Services have?

In the past 10 years, AMN Healthcare Services' cash and equivalents has ranged from $9.58 million in 2015 to $180.93 million in 2021, and is currently $33.97 million as of their latest financial filing in 2025.

How has AMN Healthcare Services' book value per share changed over the last 10 years?

Over the last 10 years, AMN Healthcare Services' book value per share changed from 7.29 in 2015 to 16.72 in 2025, a change of 129.2%.

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Financial statements for NYSE:AMN last updated on 2/20/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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AMN Healthcare Services (AMN) Financials

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