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AMN Healthcare Services Inc AMN

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Stock XNYS Rating as of
$61.44 +2.41 (4.08%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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AMN Healthcare Earnings: Healthy Utilization May Aid Turnaround, Despite Near-Term Pressures

Debbie Wang,

Narrow-moat AMN Healthcare turned in first-quarter results in line with our expectations. We are maintaining our $95 fair value estimate, as we continue to see near-term pressure from healthcare providers on contingent labor spending. Despite a soft market environment, we believe AMN’s network effect moat source remains intact given its leadership in healthcare staffing. With rising healthcare utilization trends, we expect a turnaround of AMN’s nursing and allied business as soon as 2025.

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Price vs Fair Value

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AMN is trading at a 69% premium.
Price
$59.01
Fair Value
$93.00
Uncertainty
High
1-Star Price
$156.87
5-Star Price
$43.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Anticipated challenges with producing enough nurses to more than offset the expected retirements offer favorable business conditions for AMN.

Bears

If unemployment rates spike, history shows that the temporary healthcare staffing industry will be negatively affected.

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News

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Trading Information

Previous Close Price
$59.03
Day Range
$59.90–62.55
52-Week Range
$53.25–112.37
Bid/Ask
$61.28 / $61.40
Market Cap
$2.34 Bil
Volume/Avg
333,817 / 927,462

Key Statistics

Price/Earnings (Normalized)
6.33
Price/Sales
0.65
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
11.15%

Company Profile

AMN Healthcare Services is one of the largest healthcare staffing company in the United States. In 2023, it offered more than 13,000 nurses and allied healthcare full-time workers with provider clients nationwide. About two thirds of its business is generated from its temporary nursing division; the other third is generated from its physician placement and technology-backed workplace solutions divisions.
Sector
Healthcare
Industry
Medical Care Facilities
Stock Style Box
Small Value
Total Number of Employees
3,585
Website
https://www.amnhealthcare.com

Comparables

Valuation

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Metric
AMN
AGL
DANE
Price/Earnings (Normalized)
 6.33—24.60
Price/Book Value
 2.623.114.39
Price/Sales
 0.650.440.80
Price/Cash Flow
 6.89—10.46
Price/Earnings
AMN
AGL
DANE

Financial Strength

Metric
AMN
AGL
DANE
Quick Ratio
 1.191.301.14
Current Ratio
 1.281.331.17
Interest Coverage
 6.25−31.072.30
Quick Ratio
AMN
AGL
DANE

Profitability

Metric
AMN
AGL
DANE
Return on Assets (Normalized)
 11.54%−6.93%9.49%
Return on Equity (Normalized)
 36.59%−17.98%24.67%
Return on Invested Capital (Normalized)
 18.77%−16.40%15.61%
Return on Assets
AMN
AGL
DANE
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