AMN Healthcare Services (AMN) FY2020 results: revenue $2.4 billion, up 7.7% on the year
AMN Healthcare Services Inc. (AMN) reported revenue of $2.4 billion for fiscal 2020, the year ended 31 December 2020, up 7.7% on the year before. Net income was $71 million, down 38.0%, and diluted earnings per share $1.48. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$2.4 billion
+7.7% on the year
FY2013FY2020
Operating margin
6.2%
8.0% a year earlier
FY2013FY2020
Net income
$71 million
-38.0% on the year
FY2013FY2020
Diluted EPS
$1.48
-38.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,394
2,222
2,136
+7.7%
Cost of revenue
1,602
1,479
1,440
+8.3%
Gross profit
792
743
696
+6.5%
Gross margin
33.1%
33.5%
32.6%
Selling, general and administrative
550
508
452
+8.2%
Operating income
149
177
203
-15.6%
Operating margin
6.2%
8.0%
9.5%
Interest expense
57.7
28.4
16.1
+103.1%
Pre-tax income
91.5
148
187
-38.4%
Income tax
20.9
34.5
44.9
-39.5%
Effective tax rate
22.8%
23.2%
24.1%
Net income
70.7
114
142
-38.0%
Net margin
3.0%
5.1%
6.6%
Diluted EPS
$1.48
$2.40
$2.91
-38.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
257
225
227
+14.2%
Capital expenditure
37.7
35.2
35.2
+7.1%
Free cash flow
219
190
192
+15.5%
Free cash flow margin
9.2%
8.5%
9.0%
Cash from investing
-538
-292
-279
Cash from financing
211
137
37.5
+54.8%
Depreciation and amortisation
94.2
58.5
41.2
+60.9%
Share-based compensation
20.5
16.2
10.8
+26.0%
Buybacks
0.0
18.7
67.0
Diluted shares, weighted
48m
48m
49m
+0.2%
Shares outstanding at period end
47m
47m
47m
+0.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
820
737
639
+11.3%
Debt
863
617
441
+39.8%
Operating lease liabilities
77.8
91.2
n/a
-14.7%
Other liabilities
593
487
413
+22.0%
Total liabilities and equity
2,354
1,932
1,493
+21.8%
Fixed assets
116
105
90.4
+10.8%
Goodwill
864
596
439
+45.2%
Intangible assets
565
398
326
+41.8%
Cash and equivalents
29.2
83.0
13.9
-64.8%
Receivables
376
353
366
+6.6%
Other assets
403
397
258
+1.4%
Total assets
2,354
1,932
1,493
+21.8%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.