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Side-by-side financial comparison of AMN HEALTHCARE SERVICES INC (AMN) and Alexandria Real Estate Equities (ARE). Click either name above to swap in a different company.
AMN HEALTHCARE SERVICES INC is the larger business by last-quarter revenue ($748.2M vs $671.0M, roughly 1.1× Alexandria Real Estate Equities). Alexandria Real Estate Equities runs the higher net margin — 59.4% vs -1.0%, a 60.4% gap on every dollar of revenue. On growth, AMN HEALTHCARE SERVICES INC posted the faster year-over-year revenue change (1.8% vs -11.5%). Over the past eight quarters, AMN HEALTHCARE SERVICES INC's revenue compounded faster (-4.5% CAGR vs -6.4%).
AMN Healthcare Services Inc. is a leading US healthcare sector workforce solutions and staffing provider. It offers temporary and permanent placement for nurses, physicians, allied health and other clinical/non-clinical staff, plus workforce management tools and consulting for hospitals, clinics and other medical facilities.
Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&P 500® urban office real estate investment trust (REIT), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (SF). The asset base in North America includes 31.9...
AMN vs ARE — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $748.2M | $671.0M |
| Net Profit | $-7.7M | $398.4M |
| Gross Margin | 26.1% | — |
| Operating Margin | 1.1% | — |
| Net Margin | -1.0% | 59.4% |
| Revenue YoY | 1.8% | -11.5% |
| Net Profit YoY | 95.9% | 740.6% |
| EPS (diluted) | $-0.19 | $2.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $671.0M | ||
| Q4 25 | $748.2M | $754.4M | ||
| Q3 25 | $634.5M | $751.9M | ||
| Q2 25 | $658.2M | $762.0M | ||
| Q1 25 | $689.5M | $758.2M | ||
| Q4 24 | $734.7M | $788.9M | ||
| Q3 24 | $687.5M | $791.6M | ||
| Q2 24 | $740.7M | $766.7M |
| Q1 26 | — | $398.4M | ||
| Q4 25 | $-7.7M | $-1.1B | ||
| Q3 25 | $29.3M | $-232.8M | ||
| Q2 25 | $-116.2M | $-107.0M | ||
| Q1 25 | $-1.1M | $-8.9M | ||
| Q4 24 | $-187.5M | $-62.2M | ||
| Q3 24 | $7.0M | $167.9M | ||
| Q2 24 | $16.2M | $46.7M |
| Q1 26 | — | — | ||
| Q4 25 | 26.1% | — | ||
| Q3 25 | 29.1% | — | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | 28.7% | — | ||
| Q4 24 | 29.8% | — | ||
| Q3 24 | 31.0% | — | ||
| Q2 24 | 31.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | — | ||
| Q3 25 | 7.5% | — | ||
| Q2 25 | -18.8% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | -27.6% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 5.1% | — |
| Q1 26 | — | 59.4% | ||
| Q4 25 | -1.0% | -143.3% | ||
| Q3 25 | 4.6% | -31.0% | ||
| Q2 25 | -17.7% | -14.0% | ||
| Q1 25 | -0.2% | -1.2% | ||
| Q4 24 | -25.5% | -7.9% | ||
| Q3 24 | 1.0% | 21.2% | ||
| Q2 24 | 2.2% | 6.1% |
| Q1 26 | — | $2.10 | ||
| Q4 25 | $-0.19 | $-6.35 | ||
| Q3 25 | $0.76 | $-1.38 | ||
| Q2 25 | $-3.02 | $-0.64 | ||
| Q1 25 | $-0.03 | $-0.07 | ||
| Q4 24 | $-4.90 | $-0.38 | ||
| Q3 24 | $0.18 | $0.96 | ||
| Q2 24 | $0.42 | $0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.0M | $418.7M |
| Total DebtLower is stronger | $767.1M | — |
| Stockholders' EquityBook value | $642.1M | $19.4B |
| Total Assets | $2.1B | $34.2B |
| Debt / EquityLower = less leverage | 1.19× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $418.7M | ||
| Q4 25 | $34.0M | $549.1M | ||
| Q3 25 | $52.6M | $579.5M | ||
| Q2 25 | $41.5M | $520.5M | ||
| Q1 25 | $55.8M | $476.4M | ||
| Q4 24 | $10.6M | $552.1M | ||
| Q3 24 | $30.6M | $562.6M | ||
| Q2 24 | $48.0M | $561.0M |
| Q1 26 | — | — | ||
| Q4 25 | $767.1M | $12.4B | ||
| Q3 25 | — | $13.6B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $13.1B | ||
| Q4 24 | $1.1B | $12.2B | ||
| Q3 24 | — | $12.7B | ||
| Q2 24 | — | $12.4B |
| Q1 26 | — | $19.4B | ||
| Q4 25 | $642.1M | $15.5B | ||
| Q3 25 | $644.4M | $16.6B | ||
| Q2 25 | $607.6M | $17.2B | ||
| Q1 25 | $715.1M | $17.5B | ||
| Q4 24 | $706.6M | $17.9B | ||
| Q3 24 | $890.7M | $18.2B | ||
| Q2 24 | $876.9M | $18.3B |
| Q1 26 | — | $34.2B | ||
| Q4 25 | $2.1B | $34.1B | ||
| Q3 25 | $2.1B | $37.4B | ||
| Q2 25 | $2.2B | $37.6B | ||
| Q1 25 | $2.4B | $37.6B | ||
| Q4 24 | $2.4B | $37.5B | ||
| Q3 24 | $2.7B | $38.5B | ||
| Q2 24 | $2.8B | $37.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.19× | 0.80× | ||
| Q3 25 | — | 0.82× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 1.49× | 0.68× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.68× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $75.6M | $475.0M |
| Free Cash FlowOCF − Capex | $67.6M | — |
| FCF MarginFCF / Revenue | 9.0% | — |
| Capex IntensityCapex / Revenue | 1.1% | 76.0% |
| Cash ConversionOCF / Net Profit | — | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $233.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $475.0M | ||
| Q4 25 | $75.6M | $312.4M | ||
| Q3 25 | $22.7M | $433.5M | ||
| Q2 25 | $78.5M | $460.2M | ||
| Q1 25 | $92.7M | $207.9M | ||
| Q4 24 | $72.8M | $274.2M | ||
| Q3 24 | $66.7M | $477.4M | ||
| Q2 24 | $99.5M | $411.8M |
| Q1 26 | — | — | ||
| Q4 25 | $67.6M | — | ||
| Q3 25 | $14.8M | — | ||
| Q2 25 | $68.7M | — | ||
| Q1 25 | $82.7M | — | ||
| Q4 24 | $56.6M | — | ||
| Q3 24 | $47.4M | — | ||
| Q2 24 | $72.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | 9.0% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 10.4% | — | ||
| Q1 25 | 12.0% | — | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 6.9% | — | ||
| Q2 24 | 9.8% | — |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | 3.7% | — |
| Q1 26 | — | 1.19× | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 9.54× | 2.84× | ||
| Q2 24 | 6.13× | 8.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMN
| Travel Nurse Staffing | $208.3M | 28% |
| Allied Staffing | $146.9M | 20% |
| Labor Disruption Services | $124.3M | 17% |
| Technology And Workforce Solutions | $88.0M | 12% |
| Language Services | $69.9M | 9% |
| Other | $29.6M | 4% |
| International Nurse Staffing | $29.6M | 4% |
| Interim Leadership Staffing | $24.1M | 3% |
| Vendor Management Systems | $16.3M | 2% |
| Local Staffing | $8.6M | 1% |
| International Nurse Permanent Placement | $2.6M | 0% |
ARE
| Same properties | $431.4M | 64% |
| Tenant recoveries | $178.2M | 27% |
| Non-same properties | $43.3M | 6% |
| Other | $18.0M | 3% |
