Adapthealth vs AMN Healthcare Services
Adapthealth is the larger business, with $3.24bn of revenue in fiscal 2025 against $2.73bn for AMN Healthcare Services (1.2 times as much). Adapthealth grew faster (-0.5% against -8.5%). Adapthealth kept more of each dollar of sales as profit: a net margin of -2.2% against -3.5%. Adapthealth carries less debt relative to equity (115.2% against 120.7%).
| Latest fiscal year | AdapthealthAHCO, 2025 | AMN Healthcare ServicesAMN, 2025 |
|---|---|---|
| Revenue | $3.24bn | $2.73bn |
| Revenue growth | -0.5% | -8.5% |
| Net income | −$70.8m | −$95.7m |
| Operating margin | 2.8% | -2.0% |
| Net margin | -2.2% | -3.5% |
| Return on equity | -4.6% | -14.2% |
| Free cash flow | $219m | $234m |
| Cash | $106m | $34.0m |
| Total debt | $1.75bn | $775m |
| Debt to equity | 115.2% | 120.7% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $0 | $0 |
| Employees | 10,900 | — |
| Market value | $806m | $1.77bn |
| Price vs our value range | — | Below our value range |
| Moat score | 25 (Weak) | 62 (Moderate) |
| Insider trades, 12 months | 16 buys, 3 sales | 0 buys, 2 sales |