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Side-by-side financial comparison of AMN HEALTHCARE SERVICES INC (AMN) and Astrana Health, Inc. (ASTH). Click either name above to swap in a different company.
Astrana Health, Inc. is the larger business by last-quarter revenue ($950.5M vs $748.2M, roughly 1.3× AMN HEALTHCARE SERVICES INC). Astrana Health, Inc. runs the higher net margin — 0.7% vs -1.0%, a 1.7% gap on every dollar of revenue. On growth, Astrana Health, Inc. posted the faster year-over-year revenue change (42.9% vs 1.8%). AMN HEALTHCARE SERVICES INC produced more free cash flow last quarter ($67.6M vs $-6.0M). Over the past eight quarters, Astrana Health, Inc.'s revenue compounded faster (53.3% CAGR vs -4.5%).
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.
Astrana Health, Inc. is a U.S.-based value-based healthcare services provider that primarily serves Medicare-eligible senior populations across the United States. It offers in-home primary care, chronic disease management, and care coordination services, aiming to improve patient health outcomes and reduce unnecessary medical costs.
AMN vs ASTH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $748.2M | $950.5M |
| Net Profit | $-7.7M | $6.6M |
| Gross Margin | 26.1% | — |
| Operating Margin | 1.1% | 1.9% |
| Net Margin | -1.0% | 0.7% |
| Revenue YoY | 1.8% | 42.9% |
| Net Profit YoY | 95.9% | 184.4% |
| EPS (diluted) | $-0.19 | $0.12 |
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.
| Q4 25 | $748.2M | $950.5M | ||
| Q3 25 | $634.5M | $956.0M | ||
| Q2 25 | $658.2M | $654.8M | ||
| Q1 25 | $689.5M | $620.4M | ||
| Q4 24 | $734.7M | $665.2M | ||
| Q3 24 | $687.5M | $478.7M | ||
| Q2 24 | $740.7M | $486.3M | ||
| Q1 24 | $820.9M | $404.4M |
| Q4 25 | $-7.7M | $6.6M | ||
| Q3 25 | $29.3M | $373.0K | ||
| Q2 25 | $-116.2M | $9.4M | ||
| Q1 25 | $-1.1M | $6.7M | ||
| Q4 24 | $-187.5M | $-7.8M | ||
| Q3 24 | $7.0M | $16.1M | ||
| Q2 24 | $16.2M | $19.2M | ||
| Q1 24 | $17.3M | $14.8M |
| 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 24 | 31.4% | — |
| Q4 25 | 1.1% | 1.9% | ||
| Q3 25 | 7.5% | 2.0% | ||
| Q2 25 | -18.8% | 3.1% | ||
| Q1 25 | 1.8% | 3.3% | ||
| Q4 24 | -27.6% | 0.1% | ||
| Q3 24 | 3.2% | 5.9% | ||
| Q2 24 | 5.1% | 6.2% | ||
| Q1 24 | 4.9% | 7.5% |
| Q4 25 | -1.0% | 0.7% | ||
| Q3 25 | 4.6% | 0.0% | ||
| Q2 25 | -17.7% | 1.4% | ||
| Q1 25 | -0.2% | 1.1% | ||
| Q4 24 | -25.5% | -1.2% | ||
| Q3 24 | 1.0% | 3.4% | ||
| Q2 24 | 2.2% | 3.9% | ||
| Q1 24 | 2.1% | 3.7% |
| Q4 25 | $-0.19 | $0.12 | ||
| Q3 25 | $0.76 | $0.01 | ||
| Q2 25 | $-3.02 | $0.19 | ||
| Q1 25 | $-0.03 | $0.14 | ||
| Q4 24 | $-4.90 | $-0.14 | ||
| Q3 24 | $0.18 | $0.33 | ||
| Q2 24 | $0.42 | $0.40 | ||
| Q1 24 | $0.45 | $0.31 |
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 | $429.5M |
| Total DebtLower is stronger | $767.1M | — |
| Stockholders' EquityBook value | $642.1M | $779.3M |
| Total Assets | $2.1B | $2.2B |
| Debt / EquityLower = less leverage | 1.19× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.0M | $429.5M | ||
| Q3 25 | $52.6M | $463.4M | ||
| Q2 25 | $41.5M | $342.1M | ||
| Q1 25 | $55.8M | $260.9M | ||
| Q4 24 | $10.6M | $290.8M | ||
| Q3 24 | $30.6M | $350.3M | ||
| Q2 24 | $48.0M | $327.7M | ||
| Q1 24 | $50.6M | $337.3M |
| Q4 25 | $767.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $642.1M | $779.3M | ||
| Q3 25 | $644.4M | $775.5M | ||
| Q2 25 | $607.6M | $765.5M | ||
| Q1 25 | $715.1M | $745.4M | ||
| Q4 24 | $706.6M | $712.7M | ||
| Q3 24 | $890.7M | $704.6M | ||
| Q2 24 | $876.9M | $678.9M | ||
| Q1 24 | $854.2M | $653.5M |
| Q4 25 | $2.1B | $2.2B | ||
| Q3 25 | $2.1B | $2.2B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.4B | $1.4B | ||
| Q3 24 | $2.7B | $1.3B | ||
| Q2 24 | $2.8B | $1.3B | ||
| Q1 24 | $2.9B | $1.2B |
| Q4 25 | 1.19× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-2.9M |
| Free Cash FlowOCF − Capex | $67.6M | $-6.0M |
| FCF MarginFCF / Revenue | 9.0% | -0.6% |
| Capex IntensityCapex / Revenue | 1.1% | 0.3% |
| Cash ConversionOCF / Net Profit | — | -0.44× |
| TTM Free Cash FlowTrailing 4 quarters | $233.8M | $104.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $-2.9M | ||
| Q3 25 | $22.7M | $10.0M | ||
| Q2 25 | $78.5M | $90.9M | ||
| Q1 25 | $92.7M | $16.6M | ||
| Q4 24 | $72.8M | $-10.9M | ||
| Q3 24 | $66.7M | $34.0M | ||
| Q2 24 | $99.5M | $23.2M | ||
| Q1 24 | $81.4M | $6.0M |
| Q4 25 | $67.6M | $-6.0M | ||
| Q3 25 | $14.8M | $7.4M | ||
| Q2 25 | $68.7M | $89.5M | ||
| Q1 25 | $82.7M | $13.6M | ||
| Q4 24 | $56.6M | $-13.5M | ||
| Q3 24 | $47.4M | $31.7M | ||
| Q2 24 | $72.2M | $20.4M | ||
| Q1 24 | $63.2M | $5.6M |
| Q4 25 | 9.0% | -0.6% | ||
| Q3 25 | 2.3% | 0.8% | ||
| Q2 25 | 10.4% | 13.7% | ||
| Q1 25 | 12.0% | 2.2% | ||
| Q4 24 | 7.7% | -2.0% | ||
| Q3 24 | 6.9% | 6.6% | ||
| Q2 24 | 9.8% | 4.2% | ||
| Q1 24 | 7.7% | 1.4% |
| Q4 25 | 1.1% | 0.3% | ||
| Q3 25 | 1.2% | 0.3% | ||
| Q2 25 | 1.5% | 0.2% | ||
| Q1 25 | 1.4% | 0.5% | ||
| Q4 24 | 2.2% | 0.4% | ||
| Q3 24 | 2.8% | 0.5% | ||
| Q2 24 | 3.7% | 0.6% | ||
| Q1 24 | 2.2% | 0.1% |
| Q4 25 | — | -0.44× | ||
| Q3 25 | 0.77× | 26.69× | ||
| Q2 25 | — | 9.65× | ||
| Q1 25 | — | 2.48× | ||
| Q4 24 | — | — | ||
| Q3 24 | 9.54× | 2.11× | ||
| Q2 24 | 6.13× | 1.21× | ||
| Q1 24 | 4.70× | 0.40× |
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% |
ASTH
| Medicare | $542.4M | 57% |
| Commercial | $99.1M | 10% |
| Care Delivery | $92.1M | 10% |
| Care Enablement | $78.9M | 8% |
| Other Third Parties | $58.0M | 6% |
| Health Care Patient Service | $39.8M | 4% |
| Health Care Other | $25.5M | 3% |
| Other | $12.1M | 1% |
| Management Service | $10.3M | 1% |
