Forensic Analysis · General / Diversified · as of Jun 27, 2026
AMN HEALTHCARE SERVICES INC (AMN)
A forensic read on AMN HEALTHCARE SERVICES INC built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Grey Zone
Financial health
2.1
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-5.0%
ROE
$1.3B
Market cap
AMN HEALTHCARE SERVICES INC earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 2.1, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-3%Return on invested capital.Return on invested capital is -3% and slipping from 24% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
stoppedShareholder returns — halted.Capital returns have STOPPED — $425M of buybacks + dividends in FY2023, but ~$0 in FY2025. A halt usually means the company is conserving cash; understand why before reading it as neutral.
$332MGoodwill impairments.Took $332M of goodwill writedowns across 2 year(s) (FY2024 ($222M), FY2025 ($110M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-3.5%
Debt / Equity1.19x
Free Cash Flow$233.8M
Latest Revenue$2.73B
Return on Equity-14.9%
Revenue Growth YoY-8.5%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on AMN HEALTHCARE SERVICES INC:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about AMN's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown