AMN Healthcare Services (AMN) FY2025 results: revenue $2.7 billion, down 8.5% on the year
AMN Healthcare Services Inc. (AMN) reported revenue of $2.7 billion for fiscal 2025, the year ended 31 December 2025, down 8.5% on the year before. Net income was -$96 million, and diluted earnings per share $-2.48. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2026.
Revenue
$2.7 billion
-8.5% on the year
FY2018FY2025
Operating margin
-2.0%
-3.4% a year earlier
FY2018FY2025
Net income
-$96 million
FY2018FY2025
Diluted EPS
-$2.48
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
269
320
372
-15.9%
Capital expenditure
35.6
80.9
104
-56.0%
Free cash flow
234
240
268
-2.4%
Free cash flow margin
8.6%
8.0%
7.1%
Cash from investing
4.3
-79.9
-412
Cash from financing
-296
-259
10.7
Depreciation and amortisation
157
174
161
-9.9%
Share-based compensation
30.7
23.3
18.0
+31.6%
Buybacks
0.0
0.0
425
Diluted shares, weighted
39m
38m
39m
+0.9%
Shares outstanding at period end
38m
38m
38m
+1.0%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
642
707
831
-9.1%
Debt
767
1,056
1,305
-27.4%
Operating lease liabilities
30.1
35.7
37.6
-15.6%
Other liabilities
655
618
751
+6.0%
Total liabilities and equity
2,094
2,416
2,924
-13.3%
Fixed assets
136
186
191
-26.8%
Goodwill
756
897
1,112
-15.8%
Intangible assets
284
381
474
-25.7%
Cash and equivalents
34.0
10.6
32.9
+219.0%
Receivables
383
438
623
-12.6%
Other assets
502
502
491
-0.1%
Total assets
2,094
2,416
2,924
-13.3%
10-K for the year ended 31 December 2025, filed 20 February 2026: the filing.