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Staffs hospitals with travel nurses, physicians and allied health professionals, plus workforce-scheduling software.
Staffs hospitals with travel nurses, physicians and allied health professionals, plus workforce-scheduling software.
Bills hospitals an hourly rate for each clinician placed and pays the clinician less, so results depend on how many contract shifts hospitals buy and on the gap between the two rates. Nurse staffing carries the company, with physician placement next. Its software lets a hospital run several outside staffing agencies from one system.
Moat: narrow (scale, installed base). Large clinician networks and hospital VMS contracts give an edge over smaller staffing rivals.
Headquarters: Dallas, Texas, US · Founded: 1985 · Employees: 2,664
Size AMN Healthcare Services (AMN) is a United States Health Care company (Personnel Services) with a market value of $1.40B, the 2041st largest of 3,117 United States companies the cockpit tracks. Shares closed at $36.19 on 6 Nov 2026.
Performance Over six months the shares gained 24.9%, against -13.2% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 24.0% over the last twelve months (peer median +11.3%); the operating margin is 4.7% (peer median -28.6%).
Valuation It trades at 46.6× forward earnings against a peer median of 10.6× (most expensive of 7).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.8 points above its cost of capital (6.4% WACC).
Short interest Short interest is 9.9% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.43B | $2.73B | $2.98B | $3.79B | $5.24B |
| Revenue growth | — | -8% | -21% | -28% | — |
| Gross profit | $817M | $626M | $752M | $1.09B | $1.58B |
| EBITDA | $307M | $190M | $294M | $502M | $781M |
| Net income | $105M | -$95.7M | -$147M | $211M | $444M |
| Free cash flow | $439M | $234M | $240M | $268M | $578M |
| Capital expenditure | $32.1M | $35.6M | $80.9M | $105M | $80.9M |
| Total debt | $776M | $803M | $1.10B | $1.35B | $861M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AMN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.1% | +0.3% | 10th highest of 21 |
| 6-month return | +24.9% | -13.2% | 7th highest of 20 |
| Distance from 52-week high | -27.1% | -39.4% | 6th highest of 21 |
| Revenue growth (TTM) | +24.0% | +11.3% | 4th highest of 14 |
| Operating margin | 4.7% | -28.6% | 5th highest of 14 |
| Forward P/E | 46.6× | 10.6× | most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | -10.8% | -1.2% | 2nd least demanding of 6 |
| Growth delivered (Del g) | +2.7% | +12.7% | lowest of 6 |
| Hurdle (Req g minus delivered) | -13.4 pp | -19.3 pp | 3rd most demanding of 6 |
| ROIC minus cost of capital | +4.8 pp | -6.5 pp | 4th highest of 12 |
| EV / EBITDA | 5.8× | 12.6× | 2nd cheapest of 7 |
| Net debt / EBITDA | 1.3× | 2.1× | 3rd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AMN Healthcare Services AMN | United States | $1.40B | +25% | +24% | 5% | 46.6× | -10.8% | +2.7% |
| Taysha Gene Therapies TSHA | United States | $1.41B | -36% | -32% | -2,855% | n/a | n/a | n/a |
| Korsana Biosciences KRSA | United States | $1.41B | +43% | -13% | -359% | n/a | n/a | n/a |
| AnaptysBio ANAB | United States | $1.39B | -33% | +93% | 56% | 8.6× | -1.2% | +25.6% |
| Innoviva INVA | United States | $1.38B | -17% | +18% | 36% | 9.4× | -15.4% | +3.9% |
| Ocular Therapeutix OCUL | United States | $1.45B | -32% | -8% | -603% | n/a | n/a | n/a |
| Mineralys Therapeutics MLYS | United States | $1.36B | -48% | n/a | n/a | n/a | n/a | n/a |
| LB Pharmaceuticals LBRX | United States | $1.36B | +31% | n/a | n/a | n/a | n/a | n/a |
| Kardigan KARD | United States | $1.45B | n/a | n/a | n/a | n/a | n/a | n/a |
| Structure Therapeutics, Inc. Sponsored ADR GPCR | United States | $1.45B | -48% | n/a | n/a | n/a | n/a | n/a |
| Pacira Biosciences PCRX | United States | $1.45B | +57% | +6% | 4% | 11.8× | 14.9% | +11.1% |
| Tyra Bioscience TYRA | United States | $1.45B | -38% | n/a | n/a | n/a | n/a | n/a |
| Damora Therapeutics DMRA | United States | $1.46B | -2% | n/a | n/a | n/a | n/a | n/a |
| Nuvation Bio NUVB | United States | $1.46B | -13% | +1,084% | -81% | n/a | n/a | n/a |
| Phibro Animal Health PAHC | United States | $1.34B | -18% | +17% | 13% | 9.1× | -7.4% | +12.7% |
| U.S. Physical Therapy USPH | United States | $1.48B | +68% | +11% | 10% | 30.4× | 19.9% | +13.0% |
| uniQure QURE | United States | $1.51B | -22% | +30% | -1,093% | n/a | n/a | n/a |
| Avalyn Pharma AVLN | United States | $1.29B | +7% | n/a | n/a | n/a | n/a | n/a |
| Ultragenyx Pharmaceutical RARE | United States | $1.52B | +22% | +16% | -64% | n/a | n/a | n/a |
| OPKO Health OPK | United States | $1.29B | +52% | -11% | -29% | n/a | n/a | n/a |
| Lumexa Imaging LMRI | United States | $1.29B | +29% | +8% | 3% | 18.6× | n/a | n/a |