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1. Company Snapshot

1.a. Company Description

Cross Country Healthcare, Inc.provides talent management and other consultative services for healthcare clients in the United States.The company operates in two segments, Nurse and Allied Staffing and Physician Staffing.


The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, local nurses, and allied staffing; staffing solutions for registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and clinical and non-clinical professionals on long-term contract assignments, as well as workforce solutions, including MSP, RPO, and consulting services.It also provides retained search services for healthcare professionals, as well as contingent search and recruitment process outsourcing services.This segment serves public and private acute care and non-acute care hospitals, government facilities, local and national healthcare plans, managed care providers, public and charter schools, outpatient clinics, ambulatory care facilities, physician practice groups, and other healthcare providers under the Cross Country brand.


The Physician Staffing segment provides physicians in various specialties, certified registered nurse anesthetists, nurse practitioners, and physician assistants under the Cross Country Locums brand as independent contractors on temporary assignments at various healthcare facilities, such as acute and non-acute care facilities, medical group practices, government facilities, and managed care organizations.The company was founded in 1986 and is headquartered in Boca Raton, Florida.

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1.b. Last Insights on CCRN

Cross Country Healthcare's recent performance was positively driven by its Q4 2025 earnings announcement, which highlighted key metrics compared to Wall Street estimates. The company's revenue reached $236,761, a 5% decrease from Q3 2025. A consensus rating of "Hold" from nine analysts covering the firm, with three issuing a buy recommendation, indicates moderate market confidence. Additionally, the company's partnership with Open Hearts for Orphans to support vulnerable children and strengthen communities may enhance its social responsibility profile. Broker upgrades and rising earnings estimates also highlight the stock as one to monitor amid market volatility.

1.c. Company Highlights

2. Cross Country Healthcare's 2025 Earnings: A Challenging Year with a Positive Outlook

Cross Country Healthcare reported a consolidated revenue of $237 million for the fourth quarter of 2025, down 5% sequentially and 24% over the prior year. The gross margin was 20.3%, down 10 basis points sequentially but up 30 basis points over the prior year. The company reported an adjusted EBITDA of $4 million for the quarter, representing a margin of 1.7%. The actual EPS came out at -$2.56, missing estimates of $0.03. For the full year 2025, revenue was $1.05 billion, down 22% from the prior year, and adjusted EBITDA was $27 million, representing a margin of 2.5%.

Publication Date: Mar -07

📋 Highlights

Operational Highlights

The company's weekly production has outpaced the fourth quarter, and it is anticipating travel to be flat to up slightly on a sequential basis. The growing book of business and robust pipeline of sales activity across multiple business lines are expected to drive revenue growth. The company's proprietary technology portfolio, anchored by Intellify, has delivered predictive visibility, optimized clinician deployment, and improved labor cost management for health systems.

Guidance and Outlook

For the first quarter of 2026, the company is guiding to revenue of between $235 million and $240 million, with an adjusted EBITDA range of between $4 million and $8 million. The company expects to return to revenue and earnings growth by the end of 2026, driven by organic revenue growth across all lines of business, cost containment efforts, and efficiencies through technology. Analysts estimate next year's revenue growth at 4.8%.

Valuation

With a P/E Ratio of -3.35, P/B Ratio of 0.98, and P/S Ratio of 0.31, the company's valuation metrics indicate a potentially undervalued stock. The EV/EBITDA ratio of 16.15 suggests that the company's enterprise value is relatively high compared to its EBITDA. The company's ROE and ROIC are negative, indicating that the company is not generating returns on its equity and invested capital. As per William Burns, the company is "looking to exit the year with fourth quarter revenue above $250 million and an adjusted EBITDA margin of between 4% and 5%."

Growth Initiatives

The company plans to expand Intellify into the home-based and education staffing markets, extending its reach into adjacent sectors that demand scalable workforce solutions. The company is also investing in AI technology, leveraging Agentic AI in delivery and recruitment, and using AI technology in the locums business for credentialing. This is expected to help accelerate delivery speed and take costs out of the company, leading to growing EBITDA margins.

3. NewsRoom

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Cross Country Healthcare, Inc. (NASDAQ:CCRN) Given Consensus Rating of “Hold” by Brokerages

Mar -13

Source: defenseworld.net

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Cross Country Healthcare and Open Hearts for Orphans Announce Community Partnership to Strengthen Families and Support Vulnerable Children

Mar -10

Source: businesswire.com

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Cross Country (CCRN) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates

Mar -05

Source: zacks.com

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Cross Country Healthcare, Inc. (CCRN) Q4 2025 Earnings Call Transcript

Mar -05

Source: seekingalpha.com

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Cross Country Healthcare (CCRN) Reports Q4 Loss, Lags Revenue Estimates

Mar -05

Source: zacks.com

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Cross Country Healthcare Announces Fourth Quarter and Full Year 2025 Financial Results

Mar -04

Source: businesswire.com

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5 Broker-Liked Stocks to Monitor Amid the Ongoing Volatility

Mar -04

Source: zacks.com

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Cross Country Healthcare to Attend the Truist Securities Virtual Human Capital Conference and the Oppenheimer 36th Annual Healthcare Medtech & Services Conference

Feb -23

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.30%)

6. Segments

Nurse and Allied Staffing

Expected Growth: 10.3%

Growing demand for healthcare services, aging population, and shortage of skilled nurses drive the nurse and allied staffing market growth.

Physician Staffing

Expected Growth: 10.3%

Growing demand for healthcare services, aging population, and physician shortages drive the need for temporary and permanent staffing solutions, enabling Cross Country Healthcare's physician staffing segment to thrive.

7. Detailed Products

Nurse and Allied Staffing

Provides temporary and permanent placement of nurses and allied health professionals to healthcare facilities across the United States.

Physician Staffing

Offers temporary and permanent placement of physicians to healthcare facilities, including locum tenens and permanent placement services.

Education and Training

Provides educational programs and training services for healthcare professionals, including continuing education and certification programs.

Search and Recruitment

Offers permanent placement services for healthcare professionals, including executive search and recruitment services.

Workforce Solutions

Provides workforce management solutions, including vendor management, workforce analytics, and consulting services.

MSP and RPO Services

Offers managed service provider (MSP) and recruitment process outsourcing (RPO) services to healthcare organizations.

8. Cross Country Healthcare, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Cross Country Healthcare, Inc. is medium due to the presence of alternative staffing agencies and healthcare providers. However, the company's strong brand reputation and extensive network of healthcare professionals mitigate this threat.

Bargaining Power Of Customers

The bargaining power of customers for Cross Country Healthcare, Inc. is low due to the company's strong market position and the fragmented nature of the healthcare industry. Customers have limited bargaining power, and the company has a strong track record of delivering high-quality services.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Cross Country Healthcare, Inc. is medium due to the company's reliance on a network of healthcare professionals and the availability of alternative staffing agencies. However, the company's strong relationships with its suppliers and its ability to negotiate favorable terms mitigate this threat.

Threat Of New Entrants

The threat of new entrants for Cross Country Healthcare, Inc. is low due to the high barriers to entry in the healthcare staffing industry, including regulatory hurdles and the need for specialized expertise. The company's strong brand reputation and extensive network of healthcare professionals also deter new entrants.

Intensity Of Rivalry

The intensity of rivalry for Cross Country Healthcare, Inc. is high due to the competitive nature of the healthcare staffing industry. The company faces intense competition from other staffing agencies and healthcare providers, which can lead to pricing pressure and reduced market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 1.10%
Debt Cost 7.78%
Equity Weight 98.90%
Equity Cost 7.78%
WACC 7.78%
Leverage 1.11%

11. Quality Control: Cross Country Healthcare, Inc. passed 8 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

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Addus HomeCare

A-Score: 5.0/10

Value: 4.0

Growth: 7.8

Quality: 7.1

Yield: 0.0

Momentum: 4.5

Volatility: 6.7

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Cross Country Healthcare

A-Score: 4.9/10

Value: 8.5

Growth: 6.2

Quality: 4.6

Yield: 0.0

Momentum: 6.5

Volatility: 3.3

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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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Aveanna Healthcare

A-Score: 3.9/10

Value: 3.7

Growth: 6.4

Quality: 3.9

Yield: 0.0

Momentum: 8.5

Volatility: 1.0

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ASHS

A-Score: 3.9/10

Value: 9.3

Growth: 4.6

Quality: 3.7

Yield: 0.0

Momentum: 1.0

Volatility: 4.7

1-Year Total Return ->

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Astrana Health

A-Score: 2.7/10

Value: 4.8

Growth: 5.9

Quality: 2.5

Yield: 0.0

Momentum: 0.5

Volatility: 2.3

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

9.52$

Current Price

9.52$

Potential

-0.00%

Expected Cash-Flows