Amn Healthcare Financials
Amn Healthcare (AMN) reported $3.4B in revenue over the twelve months to Jun 30, 2026, up 24.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
AMN’s shrinking revenue base is being cushioned by cash generation, but margin compression and sub-1.0x liquidity reveal a tighter operating model.
The cash conversion gap between a-$96M net loss and$269M of operating cash flow means reported earnings are currently a poor proxy for cash production. Free cash flow resilience depended heavily on reduced reinvestment:$234M of free cash flow followed capital spending of$36M , versus$81M in FY2024.
The margin structure weakened as gross margin compressed from
Debt declined from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Amn Healthcare's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Amn Healthcare has an operating margin of -2.0%, meaning the company loses $2 on every $100 of revenue. This results in a profitability score of 33/100. 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 7/100.
Amn Healthcare has elevated debt relative to equity (D/E of 1.19), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 7/100, reflecting increased financial risk.
Amn Healthcare's current ratio of 0.94 is below the typical benchmark, resulting in a score of 17/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Amn Healthcare has a free cash flow margin of 8.6%, earning a moderate score of 61/100. The company generates positive cash flow after capital investments, but with room for improvement.
Amn Healthcare posts a -14.9% return on equity (ROE), meaning it loses $15 for every $100 of shareholders' equity. This results in a returns score of 34/100. This is up from -20.8% the prior year.
Amn Healthcare scores 2.56, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
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.
Amn Healthcare reported a net loss of $95.7M while generating $269.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Amn Healthcare reported an operating loss of $55.5M against $45.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
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.
Not reported for fiscal year 2025.
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 repurchased no shares in fiscal year 2025.
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.
Not reported for fiscal year 2025.
AMN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $673.2M-51.2% | $1.4B+84.2% | $748.2M+17.9% | $634.5M-3.6% | $658.2M-4.5% | $689.5M-6.1% | $734.7M+6.9% | $687.5M |
| Cost of Revenue | $467.4M-53.7% | $1.0B+82.5% | $553.1M+22.9% | $450.1M-2.5% | $461.8M-6.0% | $491.4M-4.7% | $515.7M+8.7% | $474.5M |
| Gross Profit | $205.9M-44.2% | $368.8M+89.0% | $195.1M+5.8% | $184.4M-6.1% | $196.4M-0.9% | $198.1M-9.5% | $219.0M+2.8% | $213.1M |
| SG&A Expenses | $147.4M-32.5% | $218.4M+43.6% | $152.1M+9.8% | $138.6M-10.3% | $154.6M+4.6% | $147.7M-7.0% | $158.9M+6.2% | $149.7M |
| Operating Income | $26.9M-77.0% | $117.2M+1343.3% | $8.1M-83.0% | $47.6M+138.5% | -$123.7M-1089.2% | $12.5M+106.2% | -$202.6M-1010.3% | $22.3M |
| Interest Expense | $7.0M+4.4% | $6.7M-45.3% | $12.3M+27.6% | $9.6M-15.3% | $11.4M-7.8% | $12.3M-46.7% | $23.1M+60.0% | $14.4M |
| Income Tax | -$1.3M-102.6% | $48.3M+1266.5% | $3.5M-59.4% | $8.7M+146.1% | -$18.9M-1580.2% | $1.3M+103.3% | -$38.1M-4756.0% | $819K |
| Net Income | $21.2M-66.0% | $62.2M+907.8% | -$7.7M-126.3% | $29.3M+125.2% | -$116.2M-10541.2% | -$1.1M+99.4% | -$187.5M-2783.3% | $7.0M |
| EPS (Diluted) | $0.53-66.7% | $1.59+936.8% | -$0.19-125.0% | $0.76+125.2% | -$3.02-9966.7% | -$0.03+99.4% | -$4.91-2827.8% | $0.18 |
Not reported in any period shown, so not listed: R&D Expenses.
AMN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.4B-9.2% | $2.6B+24.4% | $2.1B-2.1% | $2.1B-3.3% | $2.2B-7.6% | $2.4B-0.9% | $2.4B-9.4% | $2.7B |
| Current Assets | $869.3M-23.5% | $1.1B+108.4% | $545.4M-4.4% | $570.3M-0.2% | $571.4M-8.9% | $627.4M+5.5% | $594.9M-2.8% | $612.3M |
| Cash & Equivalents | $361.8M-35.5% | $560.7M+1550.6% | $34.0M-35.5% | $52.6M+26.8% | $41.5M-25.6% | $55.8M+423.8% | $10.6M-65.1% | $30.6M |
| Accounts Receivable | $382.5M-3.1% | $394.7M+3.2% | $382.6M-2.2% | $391.1M+0.9% | $387.8M-8.1% | $421.9M-3.6% | $437.8M-2.9% | $451.1M |
| Goodwill | $759.0M+0.4% | $755.8M0.0% | $755.8M0.0% | $755.8M0.0% | $755.8M-15.8% | $897.5M0.0% | $897.5M-19.6% | $1.1B |
| Total Liabilities | $1.6B-14.2% | $1.9B+30.3% | $1.5B-2.8% | $1.5B-6.9% | $1.6B-4.5% | $1.7B-1.7% | $1.7B-3.8% | $1.8B |
| Current Liabilities | $770.5M-26.2% | $1.0B+80.8% | $577.6M+6.5% | $542.2M-5.5% | $573.6M-1.5% | $582.2M+6.7% | $545.8M+5.3% | $518.5M |
| Long-Term Debt | N/A | N/A | $767.1M | N/A | N/A | N/A | $1.1B | N/A |
| Total Equity | $741.3M+4.0% | $712.8M+11.0% | $642.1M-0.4% | $644.4M+6.1% | $607.6M-15.0% | $715.1M+1.2% | $706.6M-20.7% | $890.7M |
| Retained Earnings | $1.3B+1.7% | $1.3B+5.1% | $1.2B-0.6% | $1.2B+2.5% | $1.2B-8.9% | $1.3B-0.1% | $1.3B-12.6% | $1.5B |
Not reported in any period shown, so not listed: Inventory.
AMN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$189.9M-133.8% | $562.5M+644.3% | $75.6M+233.4% | $22.7M-71.1% | $78.5M-15.2% | $92.7M+27.3% | $72.8M+9.2% | $66.7M |
| Capital Expenditures | $8.5M+17.8% | $7.2M-8.8% | $7.9M+0.5% | $7.9M-19.3% | $9.8M-1.8% | $10.0M-38.5% | $16.2M-15.8% | $19.3M |
| Free Cash Flow | -$198.5M-135.7% | $555.2M+721.0% | $67.6M+358.2% | $14.8M-78.5% | $68.7M-16.9% | $82.7M+46.1% | $56.6M+19.3% | $47.4M |
| Investing Cash Flow | -$12.2M-62.7% | -$7.5M+6.8% | -$8.1M-113.7% | $59.0M+386.5% | -$20.6M+20.9% | -$26.0M-83.4% | -$14.2M+35.5% | -$22.0M |
| Financing Cash Flow | -$2.4M+91.3% | -$27.1M+67.4% | -$83.2M-16.9% | -$71.2M+11.2% | -$80.2M-31.1% | -$61.2M+23.4% | -$79.9M-32.1% | -$60.5M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
AMN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.6%+3.8pp | 26.8%+0.7pp | 26.1%-3.0pp | 29.1%-0.8pp | 29.8%+1.1pp | 28.7%-1.1pp | 29.8%-1.2pp | 31.0% |
| Operating Margin | 4.0%-4.5pp | 8.5%+7.4pp | 1.1%-6.4pp | 7.5%+26.3pp | -18.8%-20.6pp | 1.8%+29.4pp | -27.6%-30.8pp | 3.2% |
| Net Margin | 3.1%-1.4pp | 4.5%+5.5pp | -1.0%-5.6pp | 4.6%+22.3pp | -17.7%-17.5pp | -0.2%+25.4pp | -25.5%-26.5pp | 1.0% |
| Return on Equity | 2.9%-5.9pp | 8.7%+9.9pp | -1.2%-5.7pp | 4.5%+23.7pp | -19.1%-19.0pp | -0.1%+26.4pp | -26.5%-27.3pp | 0.8% |
| Return on Assets | 0.9%-1.5pp | 2.4%+2.8pp | -0.4%-1.7pp | 1.4%+6.6pp | -5.3%-5.2pp | -0.1%+7.7pp | -7.8%-8.0pp | 0.3% |
| Current Ratio | 1.130.0x | 1.09+0.1x | 0.94-0.1x | 1.05+0.1x | 1.00-0.1x | 1.080.0x | 1.09-0.1x | 1.18 |
| Debt-to-Equity | 2.19-0.5x | 2.65+1.5x | 1.19-1.1x | 2.32-0.3x | 2.64+0.3x | 2.35+0.9x | 1.49-0.5x | 2.00 |
| FCF Margin | -29.5%-69.8pp | 40.3%+31.2pp | 9.0%+6.7pp | 2.3%-8.1pp | 10.4%-1.5pp | 12.0%+4.3pp | 7.7%+0.8pp | 6.9% |
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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Where Amn Healthcare Ranks
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 Altman Z-Score?
Amn Healthcare (AMN) has an Altman Z-Score of 2.56, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
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 to 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) reported a net loss of $95.7M while generating $269.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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) reported an operating loss of $55.5M against $45.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 27 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.