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1. Company Snapshot

1.a. Company Description

AMN Healthcare Services, Inc.provides healthcare workforce solutions and staffing services to hospitals and healthcare facilities in the United States.It operates 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 and labor disruption, allied staffing, local staffing, and revenue cycle solutions.The Physician and Leadership Solutions segment provides locum tenens staffing, healthcare interim leadership staffing, executive search, and physician permanent placement solutions.The Technology and Workforce Solutions segment offers language services, vendor management systems, workforce optimization, telehealth, credentialing, and outsourced solutions.


The company also provides allied health professionals, such as physical therapists, respiratory therapists, occupational therapists, medical and radiology technologists, lab technicians, speech pathologists, rehabilitation assistants, and pharmacists.It offers its services under the brands, including American Mobile, Nursefinders, NurseChoice, HealthSource Global Staffing, Onward Healthcare, O'Grady Peyton International, Med Travelers, Club Staffing, Staff Care, B.E. Smith, and Merritt Hawkins, as well as AMN Revenue Cycle Solutions and AMN Language Services.The company was founded in 1985 and is based in Dallas, Texas.

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1.b. Last Insights on AMN

AMN Healthcare Services' recent performance was driven by its Q4 2025 earnings release, which showed a 70% drop in EPS but forecast up to 80% revenue growth in Q1 2026. The company's quarterly revenue reached $748 million, with a GAAP loss of ($0.20)/share and adjusted EPS of $0.22. Labor disruption revenue contributed to Q4 results, while core demand remained healthy. Management expects margin expansion in 2026 and 6% revenue growth from 2027 onward, citing a recovery in the contingent labor market. Citizens Jmp raised their price target on the stock to $24.00, with a market outperform rating.

1.c. Company Highlights

2. AMN Healthcare's Q4 2025 Earnings: A Closer Look

AMN Healthcare reported revenue of $748 million for Q4 2025, a 2% increase from the year-ago quarter and $18 million above the high end of guidance. The company's adjusted EBITDA for the full year 2025 was $234 million. The actual EPS for Q4 2025 came out at $0.22, in line with estimates. The labor disruption revenue was $124 million, nearly double the year-ago quarter, contributing significantly to the overall revenue.

Publication Date: Mar -05

📋 Highlights
  • 2025 Revenue and EBITDA: AMN Healthcare reported full-year 2025 revenue of $2.73 billion and adjusted EBITDA of $234 million, maintaining a strong financial position despite market challenges.
  • Q4 Revenue Outperformance: Fourth-quarter revenue reached $748 million, exceeding guidance by $18 million and growing 2% YoY, driven by $124 million in labor disruption revenue (doubling YoY).
  • Debt Reduction: The company reduced net debt by $285 million in 2025, reflecting disciplined capital management amid strategic investments.
  • Q1 2026 Guidance: Projected revenue of $1.225–$1.24 billion includes $600 million from labor disruption, with gross margin expected at 23.5–24% (impacted by 300 bps from labor disruption).
  • International Growth Potential: Visa policy improvements and increased supply in the Philippines are expected to drive mid-teens revenue growth in international nurse staffing for 2026.

Segment Performance

Nurse and Allied Solutions and Physician and Leadership Solutions performed well, coming in at the high end of guidance. Technology and Workforce Solutions revenue was $2 million below the midpoint of the guidance range. The company's Nurse and Allied revenue is expected to be up 2% to 4% year-over-year in Q1 2026, excluding labor disruption.

Guidance and Outlook

For Q1 2026, AMN Healthcare expects revenue to be in the range of $1.225 billion to $1.24 billion, including approximately $600 million related to labor disruption support. The company's guidance suggests a continued strong demand for labor disruption support, with $600 million in incremental revenue. As Cary Grace mentioned, "We have developed over the past 2 years, technology and operating model to be able to support strike events."

Valuation Metrics

Analysts estimate next year's revenue growth at -15.3%. The current valuation metrics show a P/E Ratio of -8.81, P/B Ratio of 1.31, and EV/EBITDA of 16.23. The Net Debt / EBITDA ratio is 7.9, indicating a relatively high debt burden. The Free Cash Flow Yield is 28.73%, suggesting a potential opportunity for investors.

Operational Highlights

The company's investment in automation and technology has improved its ability to support labor disruption events and is expected to drive growth and efficiency in the core business. The culture of the company is also a key differentiator, driving its success in delivering on its core business and leveraging technology investments.

3. NewsRoom

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Here's Why You Should Retain AMN HealthCare Stock in Your Portfolio

Mar -20

Source: zacks.com

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5 Broker-Adored Stocks to Monitor Amid High Inflation & Oil Shock

Mar -20

Source: zacks.com

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Should You Buy AMN Healthcare Services (AMN) After Golden Cross?

Mar -13

Source: zacks.com

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AMN Healthcare Services (NYSE:AMN) versus Zicix (OTCMKTS:ZICXD) Critical Comparison

Mar -05

Source: defenseworld.net

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5 Broker-Liked Stocks to Monitor Amid the Ongoing Volatility

Mar -04

Source: zacks.com

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AMN Healthcare Survey Reveals Sharp Divide Between Leaders' Organizational Confidence and Industry Outlook for 2026

Feb -26

Source: globenewswire.com

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AMN Healthcare Services: Contrarian Buy On Margin Recovery And Cheap Valuation

Feb -25

Source: seekingalpha.com

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AMN Healthcare Services Inc $AMN Shares Acquired by Counterpoint Mutual Funds LLC

Feb -24

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.54%)

6. Segments

Nurse and Allied Solutions

Expected Growth: 10.3%

Growing demand for healthcare services, aging population, and shortage of skilled nurses drive the growth of nurse and allied solutions. Increasing need for temporary and permanent staffing solutions in healthcare facilities also contributes to the segment's growth.

Physician and Leadership Solutions

Expected Growth: 10.2%

Growing demand for temporary physician staffing and leadership development services, driven by physician shortages, aging population, and increasing healthcare costs, will fuel growth in this segment.

Technology and Workforce Solutions

Expected Growth: 12.3%

Growing demand for healthcare staffing and workforce management solutions, driven by an aging population, nurse shortages, and the need for cost-effective solutions, will fuel the growth of Technology and Workforce Solutions from AMN Healthcare Services, Inc.

7. Detailed Products

Nurse Staffing

Provides temporary nursing staff to healthcare facilities to fill staffing gaps

Allied Healthcare Staffing

Offers temporary staffing solutions for allied health professionals such as radiologic technologists, respiratory therapists, and occupational therapists

Locum Tenens Staffing

Provides temporary physician staffing solutions to healthcare facilities

Interim Leadership Staffing

Offers temporary leadership staffing solutions for healthcare facilities, including interim CEOs, CFOs, and CNOs

Permanent Placement Services

Provides permanent placement services for healthcare professionals, including nurses, physicians, and allied health professionals

VMS (Vendor Management System)

Offers a vendor management system to manage contingent labor and services procurement

RPO (Recruitment Process Outsourcing)

Provides recruitment process outsourcing services to healthcare organizations

8. AMN Healthcare Services, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes is low for AMN Healthcare Services, Inc. as the company provides specialized healthcare staffing services that are difficult to replicate.

Bargaining Power Of Customers

The bargaining power of customers is medium for AMN Healthcare Services, Inc. as the company has a diverse customer base, but some customers may have significant negotiating power.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low for AMN Healthcare Services, Inc. as the company has a diverse supplier base and is not heavily dependent on a single supplier.

Threat Of New Entrants

The threat of new entrants is high for AMN Healthcare Services, Inc. as the company operates in a highly competitive industry with low barriers to entry.

Intensity Of Rivalry

The intensity of rivalry is high for AMN Healthcare Services, Inc. as the company operates in a highly competitive industry with many established players.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 61.23%
Debt Cost 4.91%
Equity Weight 38.77%
Equity Cost 5.06%
WACC 4.97%
Leverage 157.92%

11. Quality Control: AMN Healthcare Services, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Healthcare Services Group

A-Score: 4.9/10

Value: 5.0

Growth: 2.9

Quality: 5.8

Yield: 2.0

Momentum: 9.0

Volatility: 4.7

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U.S. Physical Therapy

A-Score: 4.3/10

Value: 3.9

Growth: 3.3

Quality: 5.9

Yield: 4.0

Momentum: 2.5

Volatility: 6.3

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Pennant

A-Score: 4.1/10

Value: 2.9

Growth: 8.2

Quality: 3.9

Yield: 0.0

Momentum: 4.0

Volatility: 5.7

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Stock-Card
AMN Healthcare Services

A-Score: 3.6/10

Value: 9.6

Growth: 4.6

Quality: 3.0

Yield: 0.0

Momentum: 0.5

Volatility: 3.7

1-Year Total Return ->

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AirSculpt Technologies

A-Score: 3.4/10

Value: 8.5

Growth: 4.8

Quality: 2.9

Yield: 1.0

Momentum: 2.5

Volatility: 1.0

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The Joint

A-Score: 3.1/10

Value: 2.8

Growth: 3.4

Quality: 5.1

Yield: 0.0

Momentum: 2.5

Volatility: 5.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

18.91$

Current Price

18.91$

Potential

-0.00%

Expected Cash-Flows