This page shows Amn Healthcare (AMN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Amn Healthcare has an operating margin of -2.0%, meaning the company retains $-2 of operating profit per $100 of revenue. This below-average margin results in a low score of 18/100, suggesting thin profitability after operating expenses. This is up from -3.4% the prior year.
Amn Healthcare's revenue declined 8.5% year-over-year, from $3.0B to $2.7B. This contraction results in a growth score of 19/100.
Amn Healthcare carries a low D/E ratio of 1.19, meaning only $1.19 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 78/100, indicating a strong balance sheet with room for future borrowing.
Amn Healthcare's current ratio of 0.94 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.
Amn Healthcare has a free cash flow margin of 8.6%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.
Amn Healthcare generates a -14.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -20.8% the prior year.
Amn Healthcare passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Amn Healthcare generates $-2.82 in operating cash flow ($269.5M OCF vs -$95.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Amn Healthcare earns $-1.2 in operating income for every $1 of interest expense (-$55.5M vs $45.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Amn Healthcare generated $2.7B in revenue in fiscal year 2025. This represents a decrease of 8.5% from the prior year.
Amn Healthcare's EBITDA was $101.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 42.2% from the prior year.
Amn Healthcare reported -$95.7M in net income in fiscal year 2025. This represents an increase of 34.9% from the prior year.
Amn Healthcare earned $-2.48 per diluted share (EPS) in fiscal year 2025. This represents an increase of 35.6% from the prior year.
Cash & Balance Sheet
Amn Healthcare generated $233.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 2.4% from the prior year.
Amn Healthcare held $34.0M in cash against $767.1M in long-term debt as of fiscal year 2025.
Amn Healthcare had 38M shares outstanding in fiscal year 2025. This represents an increase of 1.0% from the prior year.
Margins & Returns
Amn Healthcare's gross margin was 28.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.5 percentage points from the prior year.
Amn Healthcare's operating margin was -2.0% in fiscal year 2025, reflecting core business profitability. This is up 1.4 percentage points from the prior year.
Amn Healthcare's net profit margin was -3.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.4 percentage points from the prior year.
Amn Healthcare's ROE was -14.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 5.9 percentage points from the prior year.
Capital Allocation
Amn Healthcare spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Amn Healthcare invested $35.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 56.0% from the prior year.
AMN Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $748.2M+17.9% | $634.5M-3.6% | $658.2M-4.5% | $689.5M-6.1% | $734.7M+6.9% | $687.5M-7.2% | $740.7M-9.8% | $820.9M |
| Cost of Revenue | $553.1M+22.9% | $450.1M-2.5% | $461.8M-6.0% | $491.4M-4.7% | $515.7M+8.7% | $474.5M-7.1% | $510.9M-9.3% | $563.4M |
| Gross Profit | $195.1M+5.8% | $184.4M-6.1% | $196.4M-0.9% | $198.1M-9.5% | $219.0M+2.8% | $213.1M-7.3% | $229.8M-10.7% | $257.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $152.1M+9.8% | $138.6M-10.3% | $154.6M+4.6% | $147.7M-7.0% | $158.9M+6.2% | $149.7M+0.4% | $149.0M-14.8% | $174.8M |
| Operating Income | $8.1M-83.0% | $47.6M+138.5% | -$123.7M-1089.2% | $12.5M+106.2% | -$202.6M-1010.3% | $22.3M-40.9% | $37.7M-5.7% | $39.9M |
| Interest Expense | $12.3M+27.6% | $9.6M-15.3% | $11.4M-7.8% | $12.3M-46.7% | $23.1M+60.0% | $14.4M-8.1% | $15.7M-5.5% | $16.6M |
| Income Tax | $3.5M-59.4% | $8.7M+146.1% | -$18.9M-1580.2% | $1.3M+103.3% | -$38.1M-4756.0% | $819K-85.7% | $5.7M-4.3% | $6.0M |
| Net Income | -$7.7M-126.3% | $29.3M+125.2% | -$116.2M-10541.2% | -$1.1M+99.4% | -$187.5M-2783.3% | $7.0M-57.0% | $16.2M-6.3% | $17.3M |
| EPS (Diluted) | N/A | $0.76+125.2% | $-3.02-9966.7% | $-0.03 | N/A | $0.18-57.1% | $0.42-6.7% | $0.45 |
AMN Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.1B-2.1% | $2.1B-3.3% | $2.2B-7.6% | $2.4B-0.9% | $2.4B-9.4% | $2.7B-3.7% | $2.8B-3.6% | $2.9B |
| Current Assets | $545.4M-4.4% | $570.3M-0.2% | $571.4M-8.9% | $627.4M+5.5% | $594.9M-2.8% | $612.3M-13.1% | $704.8M-10.9% | $790.7M |
| Cash & Equivalents | $34.0M-35.5% | $52.6M+26.8% | $41.5M-25.6% | $55.8M+423.8% | $10.6M-65.1% | $30.6M-36.4% | $48.0M-5.0% | $50.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $382.6M-2.2% | $391.1M+0.9% | $387.8M-8.1% | $421.9M-3.6% | $437.8M-2.9% | $451.1M-11.4% | $508.9M-12.1% | $578.6M |
| Goodwill | $755.8M0.0% | $755.8M0.0% | $755.8M-15.8% | $897.5M0.0% | $897.5M-19.6% | $1.1B0.0% | $1.1B+0.1% | $1.1B |
| Total Liabilities | $1.5B-2.8% | $1.5B-6.9% | $1.6B-4.5% | $1.7B-1.7% | $1.7B-3.8% | $1.8B-6.2% | $1.9B-6.2% | $2.0B |
| Current Liabilities | $577.6M+6.5% | $542.2M-5.5% | $573.6M-1.5% | $582.2M+6.7% | $545.8M+5.3% | $518.5M-9.6% | $573.9M-8.0% | $623.9M |
| Long-Term Debt | $767.1M | N/A | N/A | N/A | $1.1B | N/A | N/A | N/A |
| Total Equity | $642.1M-0.4% | $644.4M+6.1% | $607.6M-15.0% | $715.1M+1.2% | $706.6M-20.7% | $890.7M+1.6% | $876.9M+2.7% | $854.2M |
| Retained Earnings | $1.2B-0.6% | $1.2B+2.5% | $1.2B-8.9% | $1.3B-0.1% | $1.3B-12.6% | $1.5B+0.5% | $1.5B+1.1% | $1.5B |
AMN Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $75.6M+233.4% | $22.7M-71.1% | $78.5M-15.2% | $92.7M+27.3% | $72.8M+9.2% | $66.7M-33.0% | $99.5M+22.3% | $81.4M |
| Capital Expenditures | $7.9M+0.5% | $7.9M-19.3% | $9.8M-1.8% | $10.0M-38.5% | $16.2M-15.8% | $19.3M-29.4% | $27.3M+50.3% | $18.1M |
| Free Cash Flow | $67.6M+358.2% | $14.8M-78.5% | $68.7M-16.9% | $82.7M+46.1% | $56.6M+19.3% | $47.4M-34.3% | $72.2M+14.2% | $63.2M |
| Investing Cash Flow | -$8.1M-113.7% | $59.0M+386.5% | -$20.6M+20.9% | -$26.0M-83.4% | -$14.2M+35.5% | -$22.0M+1.5% | -$22.3M-4.4% | -$21.4M |
| Financing Cash Flow | -$83.2M-16.9% | -$71.2M+11.2% | -$80.2M-31.1% | -$61.2M+23.4% | -$79.9M-32.1% | -$60.5M+24.5% | -$80.1M-105.5% | -$39.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | $0 | $0 | $0 | $0 |
AMN Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.1%-3.0pp | 29.1%-0.8pp | 29.8%+1.1pp | 28.7%-1.1pp | 29.8%-1.2pp | 31.0%-0.0pp | 31.0%-0.3pp | 31.4% |
| Operating Margin | 1.1%-6.4pp | 7.5%+26.3pp | -18.8%-20.6pp | 1.8%+29.4pp | -27.6%-30.8pp | 3.2%-1.9pp | 5.1%+0.2pp | 4.9% |
| Net Margin | -1.0%-5.6pp | 4.6%+22.3pp | -17.7%-17.5pp | -0.2%+25.4pp | -25.5%-26.5pp | 1.0%-1.2pp | 2.2%+0.1pp | 2.1% |
| Return on Equity | -1.2%-5.7pp | 4.5%+23.7pp | -19.1%-19.0pp | -0.1%+26.4pp | -26.5%-27.3pp | 0.8%-1.1pp | 1.8%-0.2pp | 2.0% |
| Return on Assets | -0.4%-1.7pp | 1.4%+6.6pp | -5.3%-5.2pp | -0.1%+7.7pp | -7.8%-8.0pp | 0.3%-0.3pp | 0.6%-0.0pp | 0.6% |
| Current Ratio | 0.94-0.1 | 1.05+0.1 | 1.00-0.1 | 1.08-0.0 | 1.09-0.1 | 1.18-0.0 | 1.23-0.0 | 1.27 |
| Debt-to-Equity | 1.19-1.1 | 2.32-0.3 | 2.64+0.3 | 2.35+0.9 | 1.49-0.5 | 2.00-0.2 | 2.16-0.2 | 2.36 |
| FCF Margin | 9.0%+6.7pp | 2.3%-8.1pp | 10.4%-1.5pp | 12.0%+4.3pp | 7.7%+0.8pp | 6.9%-2.8pp | 9.8%+2.1pp | 7.7% |
Note: The current ratio is below 1.0 (0.94), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Amn Healthcare's annual revenue?
Amn Healthcare (AMN) reported $2.7B in total revenue for fiscal year 2025. This represents a -8.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Amn Healthcare's revenue growing?
Amn Healthcare (AMN) revenue declined by 8.5% year-over-year, from $3.0B to $2.7B in fiscal year 2025.
Is Amn Healthcare profitable?
No, Amn Healthcare (AMN) reported a net income of -$95.7M in fiscal year 2025, with a net profit margin of -3.5%.
What is Amn Healthcare's EBITDA?
Amn Healthcare (AMN) had EBITDA of $101.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Amn Healthcare have?
As of fiscal year 2025, Amn Healthcare (AMN) had $34.0M in cash and equivalents against $767.1M in long-term debt.
What is Amn Healthcare's gross margin?
Amn Healthcare (AMN) had a gross margin of 28.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Amn Healthcare's operating margin?
Amn Healthcare (AMN) had an operating margin of -2.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Amn Healthcare's net profit margin?
Amn Healthcare (AMN) had a net profit margin of -3.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Amn Healthcare's return on equity (ROE)?
Amn Healthcare (AMN) has a return on equity of -14.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Amn Healthcare's free cash flow?
Amn Healthcare (AMN) generated $233.8M in free cash flow during fiscal year 2025. This represents a -2.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Amn Healthcare's operating cash flow?
Amn Healthcare (AMN) generated $269.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Amn Healthcare's total assets?
Amn Healthcare (AMN) had $2.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Amn Healthcare's capital expenditures?
Amn Healthcare (AMN) invested $35.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Amn Healthcare's current ratio?
Amn Healthcare (AMN) had a current ratio of 0.94 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Amn Healthcare's debt-to-equity ratio?
Amn Healthcare (AMN) had a debt-to-equity ratio of 1.19 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Amn Healthcare's return on assets (ROA)?
Amn Healthcare (AMN) had a return on assets of -4.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Amn Healthcare's Piotroski F-Score?
Amn Healthcare (AMN) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Amn Healthcare's earnings high quality?
Amn Healthcare (AMN) has an earnings quality ratio of -2.82x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Amn Healthcare cover its interest payments?
Amn Healthcare (AMN) has an interest coverage ratio of -1.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Amn Healthcare?
Amn Healthcare (AMN) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.