AMN Healthcare Services, Inc. (AMN) Stock

AMN Healthcare Services, Inc. (AMN) is a Technology stock trading at $34.44 (as of 2026-08-21), with a market capitalization of $1.34B and a trailing P/E of 12.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

AMN Healthcare Services, Inc. provides healthcare staffing and workforce services to hospitals and other healthcare facilities in the United States. It operates through nurse and allied, physician and leadership, and technology and workforce solutions segments, offering staffing for nurses and allied health professionals, physician and leadership placements, and related workforce and technology services.

Understand AMN Healthcare Services, Inc.: how it makes money

AMN Healthcare Services provides healthcare workforce solutions and staffing to hospitals and healthcare facilities, including travel nurse and allied staffing, rapid response and labor disruption coverage, locum tenens and interim leadership, and technology and workforce solutions.

Its profit model is driven by matching clinician talent to short-term healthcare staffing needs (nurse and allied, locum tenens, and interim leadership) and generating additional revenue through technology and workforce solutions.

Revenue by segment (latest quarter)
Nurse and Allied	$1.1B
Physician and Leadership	$0.2B
Technology and Workforce	$0.1B

Business quality (Mixed): Strong segment clarity (three reportable segments with segment revenue values), but the provided operating KPIs are mainly segment revenue and a few working-capital or engagement style metrics, so operating trend interpretation relies on segment revenue movement.

Bull case

Broad workforce coverage across clinician types: The company operates Nurse and Allied Solutions plus Physician and Leadership Solutions, which include travel nurse staffing, rapid response and labor disruption staffing, allied staffing, locum tenens, and interim leadership staffing.
Service diversification: Technology and Workforce Solutions add non-staffing offerings, alongside revenue cycle solutions and workforce related services within the segments described.
Segment mix is visibly dominated by nurses and allied: Nurse and Allied Solutions represent the largest segment revenue contribution among the three segments listed.

Bear case

Profitability appears constrained at segment level: Provided segment operating income values for Nurse and Allied Solutions, Technology and Workforce Solutions, and Physician and Leadership Solutions are each small relative to their segment revenue, which can indicate sensitivity to cost and pricing pressures.
Business is tied to healthcare staffing demand volatility: The offerings emphasize staffing coverage for disruptions and staffing gaps (rapid response, labor disruption events, and short-term physician coverage), which can create demand variability.
Collections timing risk is present in the provided working-capital metrics: Days Sales Outstanding excluding MSDR is shown as 66.0, which can reflect longer cash conversion depending on the underlying mix and terms.

Valuation — source: SEC EDGAR (first-party)
Price	$34.44
Market Cap	$1.34B
P/E Ratio	12.7
EV / EBITDA	2.7
Price / Book	1.80
Price / Sales	0.39
FCF Yield	32.9%
DCF Value (model)	$91.65
DCF Upside vs Price	166.1%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$2.73B
Net Margin	-3.5%
Revenue Growth (YoY)	2.3%
EPS Growth (YoY)	-117.9%
FCF Growth (YoY)	-388.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.56 (grey)
Piotroski F-Score	5/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	12.7
Sector P/E (Technology)	33.9
Industry P/E (Business Services)	29.9
vs Sector	-62.4%
vs Industry	-57.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock Fund Advisors ($142.07M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Business Services
CEO	Caroline Sullivan Grace
Employees	2,968
Country	US
IPO Date	2001-11-13

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Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.