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AMN Healthcare Services Inc (AMN) stock

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NYSE: AMN NYSE Health Care Services Next results ~November 5, 2026

B Fundamentals grade

AMN Healthcare Services Inc is a US-listed company in the health care services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($138.47) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($138.47) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating. We'll show the comparison once resolved.

AMN Healthcare Services Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds176 adding, 113 cuttingOf 54 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter AMN Healthcare Services files

Where AMN Healthcare Services stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.43bn, up 24.0% on a year earlier, faster than the 19.9% growth a quarter earlier. Free-cash-flow margin rose to 12.8% from 9.2% a year earlier. Operating margin widened to 5.8% from -10.5%. The diluted share count is up 2.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 4 of our 7 financial-health checks.

Our model value for AMN Healthcare Services is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

AMN Healthcare Services Inc's trailing-twelve-month revenue grew 24.0% year on year, with a free-cash-flow margin of 12.8%. Where it stands out: free-cash-flow margin of 12.8% ranks 6 of 40 health care services companies we cover.

Our discounted-cash-flow model values the business at ~$140 per share in the base case (~$100–$190 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 308% in the quarter to 2026-06-30, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 24.0% over the last 12 months, against a median of 7.3% for health care services companies we cover.
  • Growth speeding up. The growth rate is 4.1 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 16.3 points on a year ago.

Things to watch

  • Share dilution. Diluted shares rose 2.1% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 66% and a beta of 0.7 against the S&P 500.
  • Gross margin slipping. Gross margin is down 2.1 points on a year ago.
  • Heavily shorted. 11.7% of the shares available to trade are sold short (5.4 days of average volume to cover).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 13.3% over 90 days.
  • Earnings expected to fall. The consensus expects earnings per share to fall 71% next year.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.77 against an average estimate of $0.19: beat by 307.8%
Revenue
$673m, up 2.3% on a year earlier
Guidance given
consolidated revenue $715m to $730m (Fourth Quarter 2025); gross margin 25.5% to 26% (Fourth Quarter 2025)
Next report
November 5, 2026; average EPS estimate $0.23

AMN Healthcare Services' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.8%
  • 1 week-6.6%
  • 1 month+25.0%
  • This year+190.4%
  • 1 year+132.5%
  • 5 years-57.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.4B
Operating margin
5.8%
Net margin
3.1%
EPS (TTM, diluted)
$2.69

Growth

Revenue growth
+24.0%
Change in growth rate
+4.1 pts
Share count change
+2.1%

Cash

Free cash flow (TTM)
$439M
FCF margin
12.8%
Stock pay % of revenue
0.9%

Earnings

Last results
November 6, 2025

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for AMN from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

AMN Healthcare Services Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($138.47) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of AMN Healthcare Services Inc's free cash flow after stock-based pay ( $346M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value AMN Healthcare Services Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.83 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$140 ~$100–$190 Left out: far from the other models (more than 3x away from their median)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$16 ~$14–$24 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$38 ~$25–$58 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$36 ~$31–$44 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare AMN Healthcare Services Inc with Health Care Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$31.05$38.45$49.25$56.66$62.31$68.25$122.33$102.82$74.88$23.92$15.76$45.77
Market value$1.5bn$1.9bn$2.4bn$2.8bn$3.0bn$3.3bn$5.9bn$4.6bn$2.9bn$913m$607m$1.8bn
+ Net debt (− = net cash)$210m$358m$310m$431m$542m$843m$669m$785m$1.3bn$1.0bn$741m$381m
Enterprise value$1.7bn$2.3bn$2.7bn$3.2bn$3.5bn$4.1bn$6.5bn$5.4bn$4.2bn$2.0bn$1.3bn$2.2bn
Multiples
Price / sales 1.0x1.0x1.2x1.3x1.3x1.4x1.5x0.9x0.8x0.3x0.2x0.5x
Price / earnings 18.5x17.9x18.4x19.5x26.0x46.1x18.0x10.4x14.0x——17.0x
Price / free cash flow 51.8x16.9x18.2x14.4x15.6x14.9x23.3x8.0x11.0x3.8x2.6x4.1x
EV / EBITDA 11.5x10.2x11.2x13.1x14.9x16.8x11.3x6.9x8.5x27.6x13.3x6.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

62 /100

Moderate moat

How hard AMN Healthcare Services's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 14.6% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 32.6%, moving by 1.7 percentage points (standard deviation) across 10 years.

  • Durability 2 / 20

    Operating margin has been a median 9.1%; its worst year was -10.5%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 10 of 10 years, at a median 8.8% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 18.4% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (67 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $649m and EPS of $0.23 (range $0.18 to $0.25) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.29 +142% $3.4bn +23%
Next $0.94 −71% $2.7bn −20%

Next year's EPS estimate has moved −13.3% in 90 days, across 9 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +24.0% on 90 days ago. In the last 30 days, 1 analyst raised AMN Healthcare Services Inc's forecast and 0 cut it.

Consensus EPS forecast AMN Healthcare Services Inc, last 90 days
$0.00 $1.00 $2.00 $3.00 $4.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.65 Current fiscal year, 60 days ago: $3.29 Current fiscal year, 30 days ago: $3.29 Current fiscal year, 7 days ago: $3.29 Current fiscal year, Now: $3.29 $3.29 Next fiscal year, 90 days ago: $1.08 Next fiscal year, 60 days ago: $0.94 Next fiscal year, 30 days ago: $0.94 Next fiscal year, 7 days ago: $0.94 Next fiscal year, Now: $0.94 $0.94

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.65$1.08
60 days ago $3.29$0.94
30 days ago $3.29$0.94
7 days ago $3.29$0.94
Now $3.29$0.94

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.19 $0.77 +307.8%
Mar 2026 $1.62 $2.10 +29.9%
Dec 2025 $0.27 $0.22 −17.9%
Sept 2025 $0.20 $0.39 +95.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, November 6, 2025
  • Consolidated revenue Fourth Quarter 2025 $715m to $730m
    “Consolidated revenue $715 - $730 million” source
  • Consolidated revenue year-over-year growth fourth quarter of 2025 1% growth to 3% growth
    “Revenue in the fourth quarter of 2025 is expected to be 1-3% lower than the prior year and up 13-15% sequentially.” source
  • Consolidated revenue sequential growth fourth quarter of 2025 13% growth to 15% growth
    “Revenue in the fourth quarter of 2025 is expected to be 1-3% lower than the prior year and up 13-15% sequentially.” source
  • Gross margin Fourth Quarter 2025 25.5% to 26%
    “Gross margin 25.5% - 26.0%” source
  • Operating margin Fourth Quarter 2025 0.2% to 0.8%
    “Operating margin 0.2% - 0.8%” source
  • SG&A as percentage of revenue Fourth Quarter 2025 20% to 20.5%
    “SG&A as percentage of revenue 20.0% - 20.5%” source
Show 14 more items
  • Adjusted EBITDA margin Fourth Quarter 2025 6.8% to 7.3% Non-GAAP
    “Adjusted EBITDA margin 6.8% - 7.3%” source
  • Nurse and Allied Solutions segment revenue growth fourth quarter of 2025 1% growth to 3% growth
    “Nurse and Allied Solutions segment revenue is expected to be up 1-3% year over year.” source
  • Physician and Leadership Solutions segment revenue growth fourth quarter of 2025 2% growth to 4% growth
    “Physician and Leadership Solutions segment revenue is expected to be down 2-4% year over year.” source
  • Technology and Workforce Solutions segment revenue growth fourth quarter of 2025 14% growth to 16% growth
    “Technology and Workforce Solutions segment revenue is projected to be down 14-16% year over year.” source
  • Labor disruption revenue assumed in guidance fourth quarter of 2025 about $100m
    “Labor disruption revenue assumed in guidance is approximately $100 million, compared with $62 million in the prior-year quarter, with approximately $5 million of incremental SG&A expenses associated with supporting labor disruption events.” source
  • Incremental SG&A expenses associated with labor disruption fourth quarter of 2025 about $5m
    “Labor disruption revenue assumed in guidance is approximately $100 million, compared with $62 million in the prior-year quarter, with approximately $5 million of incremental SG&A expenses associated with supporting labor disruption events.” source
  • Depreciation Fourth quarter 2025 about $17m
    “Fourth quarter estimates for certain other financial items include depreciation of $17 million, depreciation in cost of revenue of $2.5 million, non-cash amortization expense of $19 million, share-based compensation expense of $6.5 million, integration and other expenses of $3 million, interest expense of $11.5 million, adjusted tax rate of 28%, and 38.9 million diluted average shares outstanding.” source
  • Depreciation in cost of revenue Fourth quarter 2025 about $2.5m
    “Fourth quarter estimates for certain other financial items include depreciation of $17 million, depreciation in cost of revenue of $2.5 million, non-cash amortization expense of $19 million, share-based compensation expense of $6.5 million, integration and other expenses of $3 million, interest expense of $11.5 million, adjusted tax rate of 28%, and 38.9 million diluted average shares outstanding.” source
  • Non-cash amortization expense Fourth quarter 2025 about $19m
    “Fourth quarter estimates for certain other financial items include depreciation of $17 million, depreciation in cost of revenue of $2.5 million, non-cash amortization expense of $19 million, share-based compensation expense of $6.5 million, integration and other expenses of $3 million, interest expense of $11.5 million, adjusted tax rate of 28%, and 38.9 million diluted average shares outstanding.” source
  • Share-based compensation expense Fourth quarter 2025 about $6.5m
    “Fourth quarter estimates for certain other financial items include depreciation of $17 million, depreciation in cost of revenue of $2.5 million, non-cash amortization expense of $19 million, share-based compensation expense of $6.5 million, integration and other expenses of $3 million, interest expense of $11.5 million, adjusted tax rate of 28%, and 38.9 million diluted average shares outstanding.” source
  • Integration and other expenses Fourth quarter 2025 about $3m
    “Fourth quarter estimates for certain other financial items include depreciation of $17 million, depreciation in cost of revenue of $2.5 million, non-cash amortization expense of $19 million, share-based compensation expense of $6.5 million, integration and other expenses of $3 million, interest expense of $11.5 million, adjusted tax rate of 28%, and 38.9 million diluted average shares outstanding.” source
  • Interest expense Fourth quarter 2025 about $11.5m
    “Fourth quarter estimates for certain other financial items include depreciation of $17 million, depreciation in cost of revenue of $2.5 million, non-cash amortization expense of $19 million, share-based compensation expense of $6.5 million, integration and other expenses of $3 million, interest expense of $11.5 million, adjusted tax rate of 28%, and 38.9 million diluted average shares outstanding.” source
  • Adjusted tax rate Fourth quarter 2025 about 28% Non-GAAP
    “Fourth quarter estimates for certain other financial items include depreciation of $17 million, depreciation in cost of revenue of $2.5 million, non-cash amortization expense of $19 million, share-based compensation expense of $6.5 million, integration and other expenses of $3 million, interest expense of $11.5 million, adjusted tax rate of 28%, and 38.9 million diluted average shares outstanding.” source
  • Diluted average shares outstanding Fourth quarter 2025 about 38.9m
    “Fourth quarter estimates for certain other financial items include depreciation of $17 million, depreciation in cost of revenue of $2.5 million, non-cash amortization expense of $19 million, share-based compensation expense of $6.5 million, integration and other expenses of $3 million, interest expense of $11.5 million, adjusted tax rate of 28%, and 38.9 million diluted average shares outstanding.” source

How earlier guidance turned out

  • Operating margin, Fourth Quarter 2025 guided 0.2% to 0.8% Above range: 1.084968%
  • Gross margin, Fourth Quarter 2025 guided 25.5% to 26% Above range: 26.078653%
  • Consolidated revenue, Fourth Quarter 2025 guided $715m to $730m Above range: $748m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows AMN Healthcare Services Inc's revenue by -6.0% next year and -1.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-12.3%, weight 67%) and the company's own record (+7.0%, weight 33%) . How the weights are set.

Analyst recommendations

9 analysts, Nov 2026
Buy333%
Hold556%
Sell111%

Monthly trend

  1. Nov 202612519
  2. Oct 202612519
  3. Sep 202612519

Counts of recommendations published by analysts covering AMN Healthcare Services Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.7%
of tradable shares
Days to cover
5.44
at average volume
Short interest, 1 month
+10%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.0%
of shares
Employees
2,664
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +132.5%

$19.69 on October 31, 2025 to $45.77

ThenNowEffect
Revenue (last 12 months) $2.8bn $3.4bn +24.0%
P/S multiple 0.3x 0.5x +91.4%
Share count 38m 39m −2.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −31.8%

$67.15 on November 3, 2023 to $45.77

ThenNowEffect
Revenue (last 12 months) $4.4bn $3.4bn −21.6%
Net margin 7.3% 3.1% −58.1%
P/E multiple 8.9x 17.0x +92.3%
Share count 42m 39m +7.8%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AMN+79%−16%−27%−68%−34%+190%
Industry peers (median)−3%−28%+8%−6%−6%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AMN92%42%33%17%33%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AMN−23%−31%−48%−71%−45%−25%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 88% from November 1, 2022 to January 5, 2026. Getting back needed a 741% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$15.10 – $49.00
From 52-week high
−6.6%
vs 50-day average
+22.2%
vs 200-day average
+60.1%
Volatility (1 year)
66%
Beta vs S&P 500
0.66

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±12.2%
After a week
4 up, 8 down
typical move ±16.6%
After a month
4 up, 8 down
typical move ±15.7%
Results releasedNext dayS&P 500 next day5 days21 days
November 6, 2025 −13.4% −1.0% −22.1% −20.4%
August 7, 2025 +0.1% +0.7% +8.4% +22.2%
May 8, 2025 +12.2% +0.6% +14.1% +9.0%
February 20, 2025 +15.7% −2.1% +11.5% +1.0%
November 7, 2024 −29.5% +1.2% −42.1% −31.9%
October 1, 2024 −6.2% −0.9% −8.3% −7.0%
August 8, 2024 −3.1% +2.8% −13.6% −23.9%
May 9, 2024 −9.3% +0.7% −2.0% −12.8%
February 15, 2024 −20.9% +0.2% −29.6% −19.3%
November 2, 2023 −12.2% +2.8% −20.8% −4.6%
August 3, 2023 −16.4% −0.7% −15.8% −18.6%
May 4, 2023 +7.7% +1.1% +11.0% +18.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

AMN Healthcare Services Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) AMN Healthcare Services Inc
$2.5B $3B $3.5B $4B $4.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $4.1B Revenue (TTM), FY23 Q4: $3.8B Revenue (TTM), FY24 Q1: $3.5B Revenue (TTM), FY24 Q2: $3.2B Revenue (TTM), FY24 Q3: $3.1B Revenue (TTM), FY24 Q4: $3B Revenue (TTM), FY25 Q1: $2.9B Revenue (TTM), FY25 Q2: $2.8B Revenue (TTM), FY25 Q3: $2.7B Revenue (TTM), FY25 Q4: $2.7B Revenue (TTM), FY26 Q1: $3.4B Revenue (TTM), FY26 Q2: $3.4B $3.4B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $4.1B
FY23 Q4 $3.8B
FY24 Q1 $3.5B
FY24 Q2 $3.2B
FY24 Q3 $3.1B
FY24 Q4 $3B
FY25 Q1 $2.9B
FY25 Q2 $2.8B
FY25 Q3 $2.7B
FY25 Q4 $2.7B
FY26 Q1 $3.4B
FY26 Q2 $3.4B
Revenue growth, TTM YoY AMN Healthcare Services Inc
-40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -25.3% Revenue growth, TTM YoY, FY23 Q4: -27.7% Revenue growth, TTM YoY, FY24 Q1: -27.7% Revenue growth, TTM YoY, FY24 Q2: -26.2% Revenue growth, TTM YoY, FY24 Q3: -25.1% Revenue growth, TTM YoY, FY24 Q4: -21.3% Revenue growth, TTM YoY, FY25 Q1: -18.1% Revenue growth, TTM YoY, FY25 Q2: -14.3% Revenue growth, TTM YoY, FY25 Q3: -11.4% Revenue growth, TTM YoY, FY25 Q4: -8.5% Revenue growth, TTM YoY, FY26 Q1: 19.9% Revenue growth, TTM YoY, FY26 Q2: 24.0% 24.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -25.3%
FY23 Q4 -27.7%
FY24 Q1 -27.7%
FY24 Q2 -26.2%
FY24 Q3 -25.1%
FY24 Q4 -21.3%
FY25 Q1 -18.1%
FY25 Q2 -14.3%
FY25 Q3 -11.4%
FY25 Q4 -8.5%
FY26 Q1 19.9%
FY26 Q2 24.0%
Operating margin (TTM) AMN Healthcare Services Inc
-20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 10.3% Operating margin (TTM), FY23 Q4: 8.9% Operating margin (TTM), FY24 Q1: 7.3% Operating margin (TTM), FY24 Q2: 6.1% Operating margin (TTM), FY24 Q3: 4.4% Operating margin (TTM), FY24 Q4: -3.4% Operating margin (TTM), FY25 Q1: -4.6% Operating margin (TTM), FY25 Q2: -10.5% Operating margin (TTM), FY25 Q3: -9.8% Operating margin (TTM), FY25 Q4: -2.0% Operating margin (TTM), FY26 Q1: 1.4% Operating margin (TTM), FY26 Q2: 5.8% 5.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 10.3%
FY23 Q4 8.9%
FY24 Q1 7.3%
FY24 Q2 6.1%
FY24 Q3 4.4%
FY24 Q4 -3.4%
FY25 Q1 -4.6%
FY25 Q2 -10.5%
FY25 Q3 -9.8%
FY25 Q4 -2.0%
FY26 Q1 1.4%
FY26 Q2 5.8%
FCF margin (TTM) AMN Healthcare Services Inc
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 10.5% FCF margin (TTM), FY23 Q4: 7.1% FCF margin (TTM), FY24 Q1: 8.8% FCF margin (TTM), FY24 Q2: 6.4% FCF margin (TTM), FY24 Q3: 3.6% FCF margin (TTM), FY24 Q4: 8.0% FCF margin (TTM), FY25 Q1: 9.1% FCF margin (TTM), FY25 Q2: 9.2% FCF margin (TTM), FY25 Q3: 8.2% FCF margin (TTM), FY25 Q4: 8.6% FCF margin (TTM), FY26 Q1: 20.7% FCF margin (TTM), FY26 Q2: 12.8% 12.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 10.5%
FY23 Q4 7.1%
FY24 Q1 8.8%
FY24 Q2 6.4%
FY24 Q3 3.6%
FY24 Q4 8.0%
FY25 Q1 9.1%
FY25 Q2 9.2%
FY25 Q3 8.2%
FY25 Q4 8.6%
FY26 Q1 20.7%
FY26 Q2 12.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 760 670 887 954 1,012 1,036 1,463 1,902 1,988 2,136 2,222 2,394 3,984 5,243 3,789 2,984 2,730 3,434
Gross profit 204 184 249 270 297 316 469 620 644 696 743 792 1,310 1,717 1,250 919 774 954
EBITDA −140 −29 54 67 79 84 150 221 245 244 235 243 582 784 499 71 101 342
Operating income −154 −44 38 53 66 68 129 192 212 203 177 149 478 647 338 −103 −55 200
Net income −122 −52 −26 17 33 33 82 106 133 142 114 71 327 444 211 −147 −96 105
Diluted EPS −$3.75 −$1.49 −$0.57 $0.37 $0.69 $0.69 $1.68 $2.15 $2.68 $2.91 $2.40 $1.48 $6.81 $9.90 $5.36 −$3.85 −$2.48 $2.69
Growth (year on year)
Revenue — −11.8% +32.5% +7.5% +6.1% +2.4% +41.2% +30.0% +4.5% +7.4% +4.0% +7.7% +66.4% +31.6% −27.7% −21.3% −8.5% +24.0%
EBITDA — — — +25.1% +17.1% +6.1% +78.6% +47.7% +10.6% −0.3% −3.5% +3.4% +138.9% +34.8% −36.3% −85.8% +42.2% —
Operating income — — — +41.7% +22.8% +3.7% +89.8% +48.7% +10.9% −4.5% −12.8% −15.6% +220.2% +35.4% −47.7% −130.3% — —
Net income — — — — — +0.9% +146.5% +29.2% +25.2% +6.9% −19.6% −38.0% +363.3% +35.6% −52.6% −169.8% — —
Diluted EPS — — — — — 0.0% +143.5% +28.0% +24.7% +8.6% −17.5% −38.3% +360.1% +45.4% −45.9% −171.8% — —
Margins
Gross margin 26.9% 27.5% 28.1% 28.3% 29.4% 30.5% 32.1% 32.6% 32.4% 32.6% 33.5% 33.1% 32.9% 32.7% 33.0% 30.8% 28.3% 27.8%
EBITDA margin −18.4% −4.3% 6.1% 7.1% 7.8% 8.1% 10.2% 11.6% 12.3% 11.4% 10.6% 10.2% 14.6% 15.0% 13.2% 2.4% 3.7% 9.9%
Operating margin −20.2% −6.5% 4.2% 5.6% 6.5% 6.6% 8.8% 10.1% 10.7% 9.5% 8.0% 6.2% 12.0% 12.3% 8.9% −3.4% −2.0% 5.8%
Net margin −16.1% −7.8% −3.0% 1.8% 3.3% 3.2% 5.6% 5.6% 6.7% 6.6% 5.1% 3.0% 8.2% 8.5% 5.6% −4.9% −3.5% 3.1%
Free-cash-flow margin 12.5% 0.6% 1.7% 5.5% 5.1% 0.8% 2.0% 5.9% 6.7% 9.0% 8.5% 9.2% 6.3% 11.0% 7.1% 8.0% 8.6% 12.8%
Cash flow
Cash from operations 99 8 19 58 60 28 56 134 161 227 225 257 305 654 372 320 269 471
Capital spending 4 4 5 5 9 19 27 22 27 35 35 38 54 76 104 81 36 32
Free cash flow 95 4 15 53 51 9 29 112 134 192 190 219 252 578 268 240 234 439
Stock-based pay 9 8 7 6 6 7 10 11 10 11 16 20 25 30 18 23 31 32
Free cash flow after stock pay 86 −4 8 47 45 1 19 101 124 181 173 199 227 548 250 216 203 407
Balance sheet
Cash 27 2 4 6 16 13 10 11 15 14 83 29 181 65 33 11 34 362
Total debt 0 215 233 160 160 162 219 369 325 445 625 872 850 850 1,310 1,060 775 743
Net debt (negative = net cash) −27 213 229 154 144 149 210 358 310 431 542 843 669 785 1,277 1,049 741 381
Diluted shares 33m 35m 46m 47m 48m 48m 49m 49m 49m 49m 48m 48m 48m 45m 39m 38m 39m 39m
Returned to shareholders
Buybacks — — — — — 0 0 13 20 67 19 0 3 577 425 0 0 —
Total returned — — — — — 0 0 13 20 67 19 0 3 577 425 0 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · June 30, 2026
What it owns · $2.4bn
Short-term assets $869mLonger-term assets $1.5bn
What it owes, and who funded it · $2.4bn
Short-term liabilities $770mLonger-term liabilities $852mShareholders' equity $741m
  • Short-term assets cover short-term liabilities $869m of assets due within a year against $770m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $869m short-term assets against $852m of longer-dated liabilities.
  • More cash than debt $362m of cash against $743m of debt.
  • Debt below 40% of shareholders' equity Debt is 100% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 72% to 100% over five years.
  • A year's operating cash flow covers at least 20% of debt $471m of operating cash flow against $743m of debt.
  • Operating profit covers interest at least five times over Operating income of $200m against $36m of interest.

From AMN Healthcare Services Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$425M
Diluted share count
+2.1%
year over year
Sales & admin spending
19.1%
of revenue
Days sales outstanding
41 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care services
Last 12 months unless stated AMN ASTH CHE AVAH HIMS PRVA Median
Revenue, last 12 months $3.4bn $3.8bn $2.7bn $2.6bn $2.6bn $2.4bn $1.2bn
Revenue growth, last 12 months 24.0% 58.9% 5.2% 19.5% 28.0% 24.1% 7.3%
Revenue growth, 3-year average −7.8% 43.7% 6.1% 12.4% 53.7% 16.1% 11.3%
Revenue growth, latest quarter 2.3% 48.5% 10.6% 13.7% 38.2% 21.4% 8.5%
Gross margin 27.8% 21.5% 33.5% 32.3% 68.4% — 27.9%
Operating margin 5.8% 2.6% 13.9% 10.5% −6.0% 1.9% 2.3%
Operating margin, 3-year average 0.5% 3.8% 14.4% 7.0% 0.5% 1.2% 2.3%
Net margin 3.1% 1.1% 10.6% 10.6% −5.5% 1.2% 1.2%
Cash from operations / revenue 13.7% 2.8% 13.6% 6.5% 10.2% 5.6% 6.1%
Free-cash-flow margin 12.8% 2.5% 11.1% 6.0% 2.4% 5.6% 5.1%
Free-cash-flow margin, 3-year average 9.5% 3.5% 11.6% 3.2% — 5.2% 3.6%
Stock pay / revenue 0.9% 1.1% — 0.7% 6.0% 3.2% 1.1%
Change in share count 2.1% 1.8% −8.3% 11.4% 0.3% 2.7% 0.3%

Median of all 41 companies we cover in health care services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

41 health care services companies
Measure Company Peer median Rank
Revenue growth Growth 24.0% 7.3% 11 of 41
Change in growth rate Growth +4.1pp +1.1pp 9 of 41
Gross margin Profitability 27.8% 29.0% 16 of 27
Operating margin Profitability 5.8% 2.6% 15 of 40
Net margin Profitability 3.1% 1.2% 16 of 41
Free-cash-flow margin Cash generation 12.8% 5.1% 6 of 40
Stock pay as % of revenue Cash generation 0.9% 0.9% 18 of 35
Long-term debt as % of assets Balance sheet 31.4% 27.7% 20 of 31
Change in share count Balance sheet 2.1% 0.4% 26 of 39
Days sales outstanding Balance sheet 41 days 39 days 17 of 31

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Nurse and Allied Healthcare Staffing $1.6B 60.3% ▼ 9.3%
Physician and Leadership Solutions $696M 25.5% ▼ 4.4%
Technology and Workforce Solutions $387M 14.2% ▼ 12.0%
Products and services
Line of business Revenue YoY
Temporary Staffing $2.3B ▼ 7.6%
Travel Nurse Staffing $828M ▼ 23.7%
Allied Staffing $582M ▼ 4.6%
Locum Tenens Staffing $565M ▼ 0.2%
Technology Enabled Services $376M ▼ 10.7%
Language Services $296M ▼ 0.9%
Labor Disruption Services $191M ▲ 202.0%
International Nurse $129M ▼ 27.4%
International Nurse Staffing $120M ▼ 27.8%
Interim Leadership Staffing $93.9M ▼ 18.8%
Vendor Management Systems $71.7M ▼ 31.3%
Permanent Placement $46.6M ▼ 20.2%
Local Staffing $36.8M ▼ 19.1%
Talent Planning and Acquisition $10.9M ▼ 40.9%
International Nurse Permanent Placement $9.3M ▼ 21.2%
Other Technologies $8.7M ▼ 53.1%

These categories overlap or exclude eliminations, so shares aren't shown.

From AMN Healthcare Services Inc's 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.5B
Institutions reporting
283
Shares held vs prior quarter
▲ 7.8%
Positions opened / closed
72 / 38

Top buyers and sellers, Q2 2026: 176 institutions bought and 113 sold ; the biggest buyer was Ameriprise Financial Inc (+969K shares) and the biggest seller Millennium Management LLC (−997K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $215M 6.6M 14.3% ▲ 10.3%
Morgan Stanley $73.9M 2.3M 4.9% ▲ 70.3%
Vanguard Capital Management LLC $55.6M 1.7M 3.7% ▲ 2.5%
State Street Corp $54.8M 1.7M 3.7% ▲ 4.9%
Boston Partners $54.2M 1.7M 3.6% ▼ 21.7%
Arrowstreet Capital, Limited Partnership $45.1M 1.4M 3.0% ▼ 0.7%
Allianz Asset Management Gmbh $44M 1.4M 2.9% ▲ 11.3%
Vanguard Portfolio Management LLC $41.7M 1.3M 2.8% ▲ 14.5%
Dimensional Fund Advisors LP $41.5M 1.3M 2.8% ▲ 73.1%
Two Sigma Investments, LP $37.5M 1.2M 2.5% ▼ 27.0%
Royce & Associates LP $37.2M 1.1M 2.5% ▲ 13.9%
Renaissance Technologies LLC $35.5M 1.1M 2.4% ▼ 20.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not AMN Healthcare Services Inc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $114,369 2 trades by 1 insider · 100% under pre-set plans
Net ▼ $114,369 net selling
Insider Date Trade Shares Price Value
Foletta Mark G Director June 15, 2026 Sell pre-set plan 2,000 $31.07 $62,140
Foletta Mark G Director June 15, 2026 Sell pre-set plan 1,681 $31.07 $52,229

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 19 trades and filings

No trades in AMN Healthcare Services Inc disclosed in the last 12 months; 19 earlier trades on record.

  • Greg Gianforte(MT):Purchase, $15,001 - $50,000, traded November 9, 2020, filed December 2, 2020
  • Greg Gianforte(MT):Purchase, $15,001 - $50,000, traded November 9, 2020, filed December 2, 2020
  • Greg Gianforte(MT):Purchase, $1,001 - $15,000, traded September 2, 2020, filed September 15, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 19, 2026 estimated from the company's past filing pattern, not announced

  • November 6, 2025
  • August 7, 2025
  • May 8, 2025
  • February 20, 2025
  • November 7, 2024
  • October 1, 2024

Recent SEC filings

Data status

When each part of this page on AMN Healthcare Services Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

AMN Healthcare Services Inc in brief

What does AMN Healthcare Services Inc do?
AMN Healthcare Services Inc is a US-listed company in the health care services industry. Its financial year ends in December.
What is AMN Healthcare Services Inc's stock ticker?
AMN Healthcare Services Inc trades under the ticker AMN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is AMN Healthcare Services Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, AMN Healthcare Services Inc reported revenue of $3.4B, 24.0% higher than a year earlier, according to its SEC filings.
What is AMN Healthcare Services Inc's free cash flow?
AMN Healthcare Services Inc's free-cash-flow margin is 12.8% of revenue over the trailing twelve months, ranking 6 of the 40 health care services companies we cover.
Who are AMN Healthcare Services Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Morgan Stanley and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is AMN Healthcare Services Inc's market cap?
On November 2, 2026, AMN Healthcare Services Inc's market capitalisation was about $1.8B, with a price-to-earnings ratio of 17.0 and net debt of $381M. Market figures come from third-party market data and may be delayed.
How much debt does AMN Healthcare Services Inc have?
AMN Healthcare Services Inc's debt-to-equity ratio is 100.2%, from its latest balance sheet (72.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are AMN Healthcare Services Inc's competitors?
In our Health Care Services peer group, the companies closest to AMN Healthcare Services Inc are Astrana Health, Inc., Chemed Corp, Aveanna Healthcare Holdings, Inc., Hims & Hers Health, Inc. and Privia Health Group, Inc. The side-by-side comparison below sets their revenue, margins and growth against AMN Healthcare Services Inc's.
Are insiders buying or selling AMN Healthcare Services Inc stock?
Over the last 12 months, AMN Healthcare Services Inc's directors and officers reported 0 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is AMN Healthcare Services Inc's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — AMN Healthcare Services Inc announces its own schedule.