AMN on NYSE
AMN HEALTHCARE SERVICES INC
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
28.3%Gross margin3
-2.0%Operating margin3
-3.5%Net margin3
-8.5%Revenue growth, 20253
-14.9%Return on equity3
1.19×Debt to equity3
$233.8MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Allied Staffing brought in 23% of the revenue AMN HEALTHCARE SERVICES INC broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Allied Staffing | $709.6M | $610.7M | $582.3M |
| Locum Tenens Staffing | $464.8M | $566.4M | $565.2M |
| Technology-enabled Services | $449.7M | $421.0M | $375.9M |
| Language Services | $260.1M | $298.2M | $295.5M |
| Labor Disruption Services | $13.3M | $63.3M | $191.2M |
| International Nurse | $226.5M | $177.7M | $129.1M |
| International Nurse Staffing | $208.1M | $165.9M | $119.8M |
| Interim Leadership Staffing | $137.0M | $115.7M | $93.9M |
| Vendor Management Systems | $169.4M | $104.3M | $71.7M |
| Permanent Placement | $86.3M | $58.4M | $46.6M |
| Local Staffing | $76.6M | $45.5M | $36.8M |
| Talent Planning and Acquisition | $45.3M | $18.4M | $10.9M |
Business segments
Nurse and Allied Healthcare Staffing brought in 60% of the revenue AMN HEALTHCARE SERVICES INC broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Nurse and Allied Healthcare Staffing | $2.6B | $1.8B | $1.6B |
| Physician and Leadership Solutions | $669.7M | $728.6M | $696.4M |
| Technology And Workforce Solutions | $495.0M | $439.5M | $386.7M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue72¢$2.0B
- Selling, general and admin22¢$593.0M
- Other costs6¢$175.7M
- Income tax0¢$5.4M
Out of $2.7B in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending13¢$35.6M
- Kept or used elsewhere87¢$233.8M
Out of $269.5M of cash from operations.3
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $2.7B | $3.0B | $3.8B |
| Cost of revenue | $2.0B | $2.1B | $2.5B |
| Gross profit | $774.1M | $919.4M | $1.2B |
| Selling, general and administrative | $593.0M | $632.5M | $748.4M |
| Depreciation and amortization (exclusive of depreciation included in cost of revenue) | $147.9M | $167.1M | $154.9M |
| Gain on sale of disposal group | -$39.1M | $0 | $0 |
| Goodwill impairment losses | $109.5M | $222.5M | $0 |
| Long-lived assets impairment losses | $18.3M | $0 | $7.8M |
| Total operating expenses | $829.5M | $1.0B | $911.2M |
| Income (loss) from operations | -$55.5M | -$102.7M | $338.4M |
| Interest expense, net, and other | $45.6M | $69.9M | $54.1M |
| Income (loss) before income taxes | -$101.1M | -$172.6M | $284.3M |
| Income tax expense (benefit) | -$5.4M | -$25.6M | $73.6M |
| Net income (loss) | -$95.7M | -$147.0M | $210.7M |
| Unrealized gains on available-for-sale securities, net, and other | $309.0K | $412.0K | $516.0K |
| Other comprehensive income | $309.0K | $412.0K | $516.0K |
| Comprehensive income (loss) | -$95.4M | -$146.6M | $211.2M |
| Basic (in dollars per share) | -$2.48 | -$3.85 | $5.38 |
| Diluted (in dollars per share) | -$2.48 | -$3.85 | $5.36 |
| Basic (in shares) | 38.5M shares | 38.2M shares | 39.2M shares |
| Diluted (in shares) | 38.5M shares | 38.2M shares | 39.3M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $34.0M | $10.6M | |
| Accounts receivable, net of allowances of $16,580 and $32,421 at December 31, 2025 and 2024, respectively | $382.6M | $437.8M | |
| Accounts receivable, subcontractor | $48.0M | $70.5M | |
| Prepaid expenses | $20.9M | $22.5M | |
| Other current assets | $59.9M | $53.5M | |
| Total current assets | $545.4M | $594.9M | |
| Restricted cash, cash equivalents and investments | $45.6M | $71.8M | |
| Fixed assets, net of accumulated depreciation of $414,797 and $360,795 at December 31, 2025 and 2024, respectively | $136.4M | $186.3M | |
| Other assets | $282.6M | $258.1M | |
| Deferred income taxes, net | $44.9M | $25.8M | |
| Goodwill | $755.8M | $897.5M | $1.1B |
| Intangible assets, net of accumulated amortization of $561,590 and $534,822 at December 31, 2025 and 2024, respectively | $283.5M | $381.4M | |
| Total assets | $2.1B | $2.4B | |
| Accounts payable and accrued expenses | $162.0M | $184.3M | |
| Accrued compensation and benefits | $298.8M | $287.5M | |
| Other current liabilities | $116.8M | $73.9M | |
| Total current liabilities | $577.6M | $545.8M | |
| Revolving credit facility | $25.0M | $210.0M | |
| Notes payable, net of unamortized fees and premium | $742.1M | $845.9M | |
| Other long-term liabilities | $107.3M | $107.5M | |
| Total liabilities | $1.5B | $1.7B | |
| Preferred stock, $0.01 par value; 10,000 shares authorized; none issued and outstanding at December 31, 2025 and 2024 | $0 | $0 | |
| Common stock, $0.01 par value; 200,000 shares authorized; 51,054 issued and 38,441 outstanding at December 31, 2025 and 50,692 issued and 38,079 outstanding at December 31, 2024 | $511.0K | $507.0K | |
| Additional paid-in capital | $559.3M | $528.5M | |
| Treasury stock, at cost; 12,613 shares at December 31, 2025 and 2024 | -$1.1B | -$1.1B | |
| Retained earnings | $1.2B | $1.3B | |
| Accumulated other comprehensive income (loss) | $298.0K | -$11.0K | |
| Total stockholders equity | $642.1M | $706.6M | $831.3M |
| Total liabilities and stockholders equity | $2.1B | $2.4B | |
| Accounts receivable, allowance | $16.6M | $32.4M | |
| Accumulated depreciation | $414.8M | $360.8M | |
| Accumulated amortization | $561.6M | $534.8M | |
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | |
| Common stock, shares issued (in shares) | 51.1M shares | 50.7M shares | |
| Common stock, shares outstanding (in shares) | 38.4M shares | 38.1M shares | |
| Treasury stock (in shares) | 12.6M shares | 12.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | -$95.7M | -$147.0M | $210.7M |
| Depreciation and amortization (inclusive of depreciation included in cost of revenue) | $156.6M | $173.8M | $160.9M |
| Non-cash interest expense and other | $2.6M | $11.9M | $8.8M |
| Write-off of fees on credit facilities and senior notes | $1.2M | $0 | $0 |
| Change in fair value of contingent consideration liabilities | $0 | $0 | $2.4M |
| Increase in allowance for credit losses and sales credits | $2.5M | $3.3M | $23.9M |
| Provision for deferred income taxes | -$19.5M | -$51.1M | -$12.9M |
| Share-based compensation | $30.7M | $23.3M | $18.0M |
| Net loss (gain) on deferred compensation balances | $2.3M | -$1.2M | $465.0K |
| Goodwill impairment losses | $109.5M | $222.5M | $0 |
| Loss on disposal or impairment of long-lived assets | $18.3M | $65.0K | $8.1M |
| Gain on sale of disposal group | -$39.1M | $0 | $0 |
| Net loss (gain) on investments in available-for-sale securities | -$106.0K | $200.0K | $302.0K |
| Non-cash lease expense | -$708.0K | -$1.2M | $1.6M |
| Accounts receivable | $49.1M | $176.2M | $70.0M |
| Accounts receivable, subcontractor | $22.4M | $47.2M | $151.0M |
| Income taxes receivable | $3.2M | -$4.0M | $3.8M |
| Prepaid expenses | $1.5M | -$2.0M | -$1.5M |
| Other current assets | -$3.0M | -$8.5M | $4.2M |
| Other assets | $4.9M | $87.0K | -$3.2M |
| Accounts payable and accrued expenses | -$20.6M | -$154.9M | -$183.5M |
| Accrued compensation and benefits | -$12.0M | -$11.3M | -$80.1M |
| Other liabilities | $49.5M | $44.4M | -$10.2M |
| Deferred revenue | $6.0M | -$1.3M | -$558.0K |
| Net cash provided by operating activities | $269.5M | $320.4M | $372.2M |
| Purchase and development of fixed assets | -$35.6M | -$80.9M | -$103.7M |
| Purchase of investments | -$36.1M | -$1.4M | $0 |
| Proceeds from sale and maturity of investments | $10.8M | $9.1M | $9.9M |
| Proceeds from sale of disposal group | $65.3M | $0 | $0 |
| Proceeds from sale of equity investment | $0 | $0 | $77.0K |
| Payments to fund deferred compensation plan | -$6.4M | -$8.4M | -$24.9M |
| Proceeds from settlements of company-owned life insurance policies | $6.4M | $0 | $0 |
| Cash paid for other intangibles | $0 | $0 | -$1.7M |
| Cash received for working capital settlement of prior year acquisition | $0 | $1.6M | $0 |
| Net cash provided by (used in) investing activities | $4.3M | -$79.9M | -$412.5M |
| Payments on revolving credit facility | -$315.0M | -$375.0M | -$355.0M |
| Proceeds from revolving credit facility | $130.0M | $125.0M | $815.0M |
| Proceeds from senior notes | $400.0M | $0 | $0 |
| Redemption of senior notes | -$500.0M | $0 | $0 |
| Payments on loans payable | $0 | $0 | -$300.0K |
| Repurchase of common stock | $0 | $0 | -$424.7M |
| Payment of excise tax on share repurchases | $0 | -$3.7M | $0 |
| Payment of financing costs | -$8.8M | -$973.0K | -$3.6M |
| Earn-out payments to settle contingent consideration liabilities for prior acquisitions | $0 | $0 | -$7.5M |
| Cash paid for shares withheld for taxes | -$2.1M | -$4.8M | -$13.1M |
| Net cash provided by (used in) financing activities | -$295.9M | -$259.4M | $10.7M |
| Net decrease in cash, cash equivalents and restricted cash | -$22.1M | -$19.0M | -$29.6M |
| Cash paid for amounts included in the measurement of operating lease liabilities | $9.4M | $10.4M | $9.3M |
| Cash paid for interest (net of $229, $606 and $1,229 capitalized in 2025, 2024 and 2023, respectively) | $45.1M | $61.0M | $48.1M |
| Cash paid for income taxes | $7.8M | $28.2M | $78.3M |
| Fair value of tangible assets acquired in acquisitions, net of cash and restricted cash received | $0 | $0 | $48.9M |
| Goodwill | $0 | $0 | $175.8M |
| Intangible assets | $0 | $0 | $92.0M |
| Liabilities assumed | $0 | $0 | -$24.5M |
| Net cash paid for acquisitions | $0 | $0 | $292.2M |
| Purchase of fixed assets recorded in accounts payable and accrued expenses | $1.5M | $3.2M | $8.1M |
| Excise tax payable on share repurchases | $0 | $0 | $3.7M |
| Right-of-use assets obtained in exchange for operating lease liabilities | $1.3M | $5.0M | $36.6M |
| Interest capitalized | $229.0K | $606.0K | $1.2M |
Recent filings
- Sep 16, 20264
- Aug 13, 2026SCHEDULE 13G
- Aug 7, 202610-Q
- Aug 6, 20268-K
- Jul 9, 20264/A
- Jun 17, 20264
- Jun 15, 2026144
- May 8, 202610-Q
- May 7, 20268-K
- May 4, 20268-K
- May 4, 2026S-8
- May 4, 20264
- May 4, 20264
- May 4, 20264
- May 4, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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