AMN Healthcare Services, Inc. (AMN) AI Stock Analysis

AMN Healthcare Services, Inc. provides healthcare workforce solutions and staffing services across the United States through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, rapid response nurse staffing for labor disruptions, allied staffing, local staffing, and revenue cycle management. Physician and Leadership Solutions supplies locum tenens staffing, interim healthcare leadership staffing, executive search services, and permanent placement solutions for physicians. Technology and Workforce Solutions delivers language services, vendor management systems, workforce optimization tools, telehealth solutions, credentialing services, and outsourced workforce solutions.

AMN Healthcare generated $5.24B in revenue in FY2022, but experienced top-line contractions of 27.7% in FY2023, 21.3% in FY2024, and 8.5% in FY2025 to $2.73B. Operating margin dropped from 12.3% in FY2022 to -3.4% in FY2024 before edging back to 1.2% in FY2025. Net income fell from $444.1M in FY2022 to net losses of -$147.0M in FY2024 and -$95.7M in FY2025. Over the trailing twelve months, revenue totaled $3.43B with an operating margin of 4.0% and net margin of 3.1%. In the latest quarter ended June 30, 2026, quarterly revenue rose 2.3% year-over-year while quarterly earnings expanded 321.3%.

As of June 30, 2026, AMN Healthcare held $361.8M in cash and short-term investments against total debt of $775.8M, yielding net debt of $414.0M. The company reported a current ratio of 1.13 and a debt-to-equity ratio of 1.05 with shareholders' equity of $741.3M. In FY2025, operating cash flow reached $269.5M and free cash flow stood at $233.8M. Cash deployment that year included $35.6M in capital expenditures and $2.1M allocated to share buybacks.

AMN trades at a trailing P/E of 15.1x and an EV-to-EBITDA of 5.0x, both below the median of its US-listed Healthcare peers of 24.6x and 12.0x, respectively. The stock's price-to-sales multiple of 0.5x also sits below the peer median of 4.1x, while its forward P/E of 18.0x slightly exceeds the peer median of 17.3x. AMN shares returned 103.2% over the trailing 12 months, outperforming the S&P 500 (SPY) return of 16.8%, but are down 57.2% over the trailing 5 years compared to an 83.0% gain for the index.

Wall Street coverage includes 2 Strong Buy, 1 Buy, 5 Hold, and 1 Sell ratings. The mean price target of $36.57 sits 9.7% below the last closing price of $40.49. For the fiscal year ending December 31, 2026, analysts expect revenue of $3.36B and EPS of $3.29, which represents 141.8% EPS growth. For the following fiscal year, 9 analysts project revenue declining 20.4% to $2.67B and EPS decreasing 71.5% to $0.94. AMN has beaten EPS estimates in 3 of the last 4 quarters, with next earnings scheduled for November 5, 2026.

This page is an AI-written research summary of AMN Healthcare Services, Inc. (AMN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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