AMN Healthcare Services (AMN) Cash Flow: Operating & Free Cash Flow

AMN Healthcare Services Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for AMN Healthcare Services, Inc. (AMN) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-95.70	-146.98	210.68	444.05	327.39	70.67	113.99	141.74	132.56
Depreciation & Amortization	156.60	173.78	160.93	137.11	103.70	94.19	58.52	41.24	32.28
Deferred Income Tax	-19.55	-51.07	-12.93	-24.62	-16.29	-21.63	0.91	-0.67	5.61
Stock Based Compensation	30.68	23.32	18.02	30.07	25.22	20.47	16.24	10.82	10.24
Change in Working Capital	101.03	85.91	-50.13	-0.56	-143.49	67.13	18.98	31.61	-78.27
Change in Accounts Receivable	74.75	223.45	221.06	20.04	-585.27	-8.61	5.71	-10.58	-10.64
Change in Inventory	0.00	0.00	0.00	0.00	-256.12	-5.56	-1.93	14.56	-32.64
Change in Accounts Payable	-20.57	-154.89	-183.52	0.00	256.12	5.56	1.93	17.15	-7.86
Change in Other Working Capital	46.85	9.44	13.34	-20.60	-0.08	75.74	13.27	10.48	-27.14
Other Operating Activities	96.39	9.44	13.34	67.68	-0.08	26.01	16.22	2.25	12.85
Net Cash from Operating Activities	269.46	320.42	372.17	653.73	305.36	256.83	224.86	226.99	115.26
Investing Activities
Capital Expenditures	-35.63	-80.89	-105.39	-80.92	-53.66	-39.10	-36.46	-36.39	-26.53
Acquisitions	65.28	0.00	-292.18	-69.50	-41.76	-476.43	-247.91	-217.36	-1.50
Purchases of Investments	-36.15	-1.38	9.97	-13.15	-60.72	-48.31	-26.31	-39.92	-17.10
Sales/Maturities of Investments	10.78	9.10	9.97	14.38	57.66	33.33	32.14	25.00	20.30
Other Investing Activities	0.02	-6.76	-24.90	-26.61	-8.99	-7.66	-13.29	-10.67	-8.62
Net Cash from Investing Activities	4.30	-79.94	-412.49	-170.71	-107.40	-538.17	-291.82	-279.34	-33.45
Financing Activities
Debt Repayment	-285.00	-375.00	-355.30	0.00	-91.88	240.55	180.00	120.00	-44.06
Common Stock Repurchased	-2.09	-4.77	-424.74	-576.77	-2.69	-6.93	-18.71	-67.01	-20.16
Other Financing Activities	-8.80	-9.45	-24.23	-15.10	-10.33	-22.13	-24.70	-15.48	-12.97
Net Cash from Financing Activities	-295.89	-259.45	10.73	-591.87	-34.90	211.49	136.60	37.51	-77.19
Summary
Effect of Forex Changes on Cash	0.00	0.00	-17.16	0.00	-0.34	-0.11	0.00	0.26	-0.10
Net Change in Cash	-22.13	-18.97	-29.60	-108.84	163.06	-69.97	69.64	-14.57	4.53
Cash at Beginning of Period	89.31	108.27	137.87	246.71	83.99	153.96	84.32	98.89	10.62
Cash at End of Period	67.17	89.31	108.27	137.87	246.71	83.99	153.96	84.32	15.15
Free Cash Flow	233.83	239.53	266.78	572.81	251.69	217.72	188.40	190.61	88.73
Supplemental Disclosures
Interest Paid	45.11	61.03	48.10	37.52	38.09	-	-	-	-
Income Taxes Paid	7.85	28.15	78.26	213.81	106.38	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About AMN Healthcare Services Cash Flow

What is AMN Healthcare Services's free cash flow?

AMN Healthcare Services generated free cash flow of $233.83M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $269.46M minus $35.63M of capital expenditures. That was down 2.4% from $239.53M a year earlier. Free cash flow equaled 8.6% of revenue.

How much does AMN Healthcare Services spend on capital expenditures?

AMN Healthcare Services spent $35.63M on capital expenditures in fiscal 2025, compared with $80.89M a year earlier. That equals 13.2% of operating cash flow.

Does AMN Healthcare Services pay dividends or buy back shares?

Yes. In fiscal 2025 AMN Healthcare Services returned $2.09M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition