AMN Healthcare Services (AMN) FY2019 results: revenue $2.2 billion, up 4.0% on the year
AMN Healthcare Services Inc. (AMN) reported revenue of $2.2 billion for fiscal 2019, the year ended 31 December 2019, up 4.0% on the year before. Net income was $114 million, down 19.6%, and diluted earnings per share $2.40. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$2.2 billion
+4.0% on the year
FY2012FY2019
Operating margin
8.0%
9.5% a year earlier
FY2012FY2019
Net income
$114 million
-19.6% on the year
FY2012FY2019
Diluted EPS
$2.40
-17.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,222
2,136
1,988
+4.0%
Cost of revenue
1,479
1,440
1,344
+2.7%
Gross profit
743
696
644
+6.8%
Gross margin
33.5%
32.6%
32.4%
Selling, general and administrative
508
452
400
+12.3%
Operating income
177
203
212
-12.8%
Operating margin
8.0%
9.5%
10.7%
Interest expense
28.4
16.1
19.7
+76.1%
Pre-tax income
148
187
193
-20.5%
Income tax
34.5
44.9
60.2
-23.2%
Effective tax rate
23.2%
24.1%
31.2%
Net income
114
142
133
-19.6%
Net margin
5.1%
6.6%
6.7%
Diluted EPS
$2.40
$2.91
$2.68
-17.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
225
227
161
-0.9%
Capital expenditure
35.2
35.2
26.5
+0.0%
Free cash flow
190
192
134
-1.1%
Free cash flow margin
8.5%
9.0%
6.7%
Cash from investing
-292
-279
-35.4
Cash from financing
137
37.5
-77.2
+264.2%
Depreciation and amortisation
58.5
41.2
32.3
+41.9%
Share-based compensation
16.2
10.8
10.2
+50.2%
Buybacks
18.7
67.0
20.2
-72.1%
Diluted shares, weighted
48m
49m
49m
-2.2%
Shares outstanding at period end
47m
47m
47m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
737
639
563
+15.3%
Debt
617
441
320
+40.1%
Operating lease liabilities
91.2
n/a
n/a
Other liabilities
487
413
372
+17.8%
Total liabilities and equity
1,932
1,493
1,254
+29.4%
Fixed assets
105
90.4
73.4
+15.9%
Goodwill
596
439
341
+35.8%
Intangible assets
398
326
227
+22.2%
Cash and equivalents
83.0
13.9
15.1
+498.9%
Receivables
353
366
350
-3.6%
Other assets
397
258
247
+54.0%
Total assets
1,932
1,493
1,254
+29.4%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.