AMN Healthcare Services, Inc. (AMN) Fundamental Analysis: Bull vs. Bear Case

AMN

AMN Healthcare Services, Inc.

Fundamental data last updated:September 7, 2026

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company profile

SECTOR

Healthcare

industry

Medical - Care Facilities

Exchange

NYSE

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

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.

VALUATION

P/E

-33.49

Market Cap ($M USD)

$1.08B

Forward P/E

21.80 PEG

0.09 PRICE TO SALES

0.32 PRICE TO BOOK

1.52 EV / EBITDA

7.83 5-Year Average P/E

Free Cash Flow Yield

65.20%

DCF Value

$118.65

Graham Number

N/A

Price to FCF

1.53 EV to FCF

1.84 Earnings Yield

-2.99%

FCF Yield

65.20%

DIVIDEND

Yield

0.00%

Annual Payout

$0.00

Payout Ratio

0.00%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

-$0.83

Next Year EPS Growth Estimate

$1.28

Next Year Revenue Growth Estimate

$2.72B

Return on Equity (ROE)

-4.98%

FREE CASH FLOW

Operating Margin

0.29%

Debt-to-Equity

1.25 Piotroski F-Score

5 Altman Z-Score

2.44 Return on Invested Capital (ROIC)

0.64%

Current Ratio

1.09 Quick Ratio

1.09 Net Debt to EBITDA

1.30 Interest Coverage

0.25 Gross Profit margin

27.63%

FCF PER SHARE

$18.16

REVENUE PER SHARE

$87.89

Gainseekers Quantitative Analysis

Summary

The market seems to have severely mispriced AMN Healthcare Services, Inc. relative to its DCF value. With a DCF value significantly higher than recent pricing, the stock appears undervalued. The Forward P/E of 25.21 suggests optimism for future earnings, yet the negative Earnings Yield and Altman Z-score of 2.46 indicate caution. This mixed bag of metrics points to a company with potential but also significant risks, especially given its negative ROE and current financial health.

AI Exposure / Tech Reliance

Operating in the healthcare sector, AMN is well-positioned to leverage AI and tech advancements. As a medical care facility provider, integrating AI could streamline operations and enhance patient care. However, the industry’s slow tech adoption may pose challenges.

The Bull Case

For value or GARP investors, AMN presents an intriguing opportunity. The company boasts a robust FCF Yield of 0.63% and a reasonable Piotroski F-Score of 5, indicating decent financial health. Despite a modest ROIC of 0.64%, the company’s ability to generate free cash flow suggests efficient capital use. These factors, combined with its low Price to FCF ratio, hint at potential pricing power and operational efficiency.

The Bear Case

Despite some strengths, AMN faces structural risks that cannot be ignored. The Price/Sales ratio of 0.33 and Price/Book of 1.58 suggest the stock might be overvalued relative to its book value. Its proximity to the 52-week high raises concerns about technical overextension. Additionally, the negative EPS and low operating margin of 0.29% highlight profitability challenges, making it a risky bet.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$27.00

Institutional Ownership %

1-Year Beta

0.30 Insider Buying % (6 Mo)

Distance to 52-Week High

13.32%

Distance to 52-Week Low

46.76%

EARNINGS SURPRISE %

31.25%

50-DAY SMA

$22.04

200-DAY SMA

$19.49

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.