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Side-by-side financial comparison of AMN HEALTHCARE SERVICES INC (AMN) and Cloudflare, Inc. (NET). 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 $614.5M, roughly 1.2× Cloudflare, Inc.). AMN HEALTHCARE SERVICES INC runs the higher net margin — -1.0% vs -2.0%, a 0.9% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 1.8%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $67.6M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% 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.
Cloudflare, Inc. is an American technology company headquartered in San Francisco, California, that provides a range of internet services, including content delivery network (CDN) services, cloud cybersecurity, DDoS mitigation, and ICANN-accredited domain registration. The company's services act primarily as a reverse proxy between website visitors and a customer's hosting provider, improving performance and protecting against malicious traffic.
AMN vs NET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $748.2M | $614.5M |
| Net Profit | $-7.7M | $-12.1M |
| Gross Margin | 26.1% | 73.6% |
| Operating Margin | 1.1% | -8.0% |
| Net Margin | -1.0% | -2.0% |
| Revenue YoY | 1.8% | 33.6% |
| Net Profit YoY | 95.9% | 6.0% |
| EPS (diluted) | $-0.19 | $-0.03 |
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 | $614.5M | ||
| Q3 25 | $634.5M | $562.0M | ||
| Q2 25 | $658.2M | $512.3M | ||
| Q1 25 | $689.5M | $479.1M | ||
| Q4 24 | $734.7M | $459.9M | ||
| Q3 24 | $687.5M | $430.1M | ||
| Q2 24 | $740.7M | $401.0M | ||
| Q1 24 | $820.9M | $378.6M |
| Q4 25 | $-7.7M | $-12.1M | ||
| Q3 25 | $29.3M | $-1.3M | ||
| Q2 25 | $-116.2M | $-50.4M | ||
| Q1 25 | $-1.1M | $-38.5M | ||
| Q4 24 | $-187.5M | $-12.8M | ||
| Q3 24 | $7.0M | $-15.3M | ||
| Q2 24 | $16.2M | $-15.1M | ||
| Q1 24 | $17.3M | $-35.5M |
| Q4 25 | 26.1% | 73.6% | ||
| Q3 25 | 29.1% | 74.0% | ||
| Q2 25 | 29.8% | 74.9% | ||
| Q1 25 | 28.7% | 75.9% | ||
| Q4 24 | 29.8% | 76.4% | ||
| Q3 24 | 31.0% | 77.7% | ||
| Q2 24 | 31.0% | 77.8% | ||
| Q1 24 | 31.4% | 77.5% |
| Q4 25 | 1.1% | -8.0% | ||
| Q3 25 | 7.5% | -6.7% | ||
| Q2 25 | -18.8% | -13.1% | ||
| Q1 25 | 1.8% | -11.1% | ||
| Q4 24 | -27.6% | -7.5% | ||
| Q3 24 | 3.2% | -7.2% | ||
| Q2 24 | 5.1% | -8.7% | ||
| Q1 24 | 4.9% | -14.4% |
| Q4 25 | -1.0% | -2.0% | ||
| Q3 25 | 4.6% | -0.2% | ||
| Q2 25 | -17.7% | -9.8% | ||
| Q1 25 | -0.2% | -8.0% | ||
| Q4 24 | -25.5% | -2.8% | ||
| Q3 24 | 1.0% | -3.6% | ||
| Q2 24 | 2.2% | -3.8% | ||
| Q1 24 | 2.1% | -9.4% |
| Q4 25 | $-0.19 | $-0.03 | ||
| Q3 25 | $0.76 | $0.00 | ||
| Q2 25 | $-3.02 | $-0.15 | ||
| Q1 25 | $-0.03 | $-0.11 | ||
| Q4 24 | $-4.90 | $-0.05 | ||
| Q3 24 | $0.18 | $-0.04 | ||
| Q2 24 | $0.42 | $-0.04 | ||
| Q1 24 | $0.45 | $-0.10 |
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 | $943.5M |
| Total DebtLower is stronger | $767.1M | — |
| Stockholders' EquityBook value | $642.1M | $1.5B |
| Total Assets | $2.1B | $6.0B |
| Debt / EquityLower = less leverage | 1.19× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.0M | $943.5M | ||
| Q3 25 | $52.6M | $1.1B | ||
| Q2 25 | $41.5M | $1.5B | ||
| Q1 25 | $55.8M | $204.5M | ||
| Q4 24 | $10.6M | $147.7M | ||
| Q3 24 | $30.6M | $182.9M | ||
| Q2 24 | $48.0M | $157.0M | ||
| Q1 24 | $50.6M | $254.4M |
| Q4 25 | $767.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $642.1M | $1.5B | ||
| Q3 25 | $644.4M | $1.3B | ||
| Q2 25 | $607.6M | $1.2B | ||
| Q1 25 | $715.1M | $1.4B | ||
| Q4 24 | $706.6M | $1.0B | ||
| Q3 24 | $890.7M | $973.1M | ||
| Q2 24 | $876.9M | $881.5M | ||
| Q1 24 | $854.2M | $797.2M |
| Q4 25 | $2.1B | $6.0B | ||
| Q3 25 | $2.1B | $5.8B | ||
| Q2 25 | $2.2B | $5.6B | ||
| Q1 25 | $2.4B | $3.7B | ||
| Q4 24 | $2.4B | $3.3B | ||
| Q3 24 | $2.7B | $3.1B | ||
| Q2 24 | $2.8B | $2.9B | ||
| Q1 24 | $2.9B | $2.8B |
| 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 | $190.4M |
| Free Cash FlowOCF − Capex | $67.6M | $105.2M |
| FCF MarginFCF / Revenue | 9.0% | 17.1% |
| Capex IntensityCapex / Revenue | 1.1% | 13.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $233.8M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $190.4M | ||
| Q3 25 | $22.7M | $167.1M | ||
| Q2 25 | $78.5M | $99.8M | ||
| Q1 25 | $92.7M | $145.8M | ||
| Q4 24 | $72.8M | $127.3M | ||
| Q3 24 | $66.7M | $104.7M | ||
| Q2 24 | $99.5M | $74.8M | ||
| Q1 24 | $81.4M | $73.6M |
| Q4 25 | $67.6M | $105.2M | ||
| Q3 25 | $14.8M | $82.5M | ||
| Q2 25 | $68.7M | $39.9M | ||
| Q1 25 | $82.7M | $59.9M | ||
| Q4 24 | $56.6M | $54.2M | ||
| Q3 24 | $47.4M | $54.5M | ||
| Q2 24 | $72.2M | $45.2M | ||
| Q1 24 | $63.2M | $41.5M |
| Q4 25 | 9.0% | 17.1% | ||
| Q3 25 | 2.3% | 14.7% | ||
| Q2 25 | 10.4% | 7.8% | ||
| Q1 25 | 12.0% | 12.5% | ||
| Q4 24 | 7.7% | 11.8% | ||
| Q3 24 | 6.9% | 12.7% | ||
| Q2 24 | 9.8% | 11.3% | ||
| Q1 24 | 7.7% | 11.0% |
| Q4 25 | 1.1% | 13.9% | ||
| Q3 25 | 1.2% | 15.1% | ||
| Q2 25 | 1.5% | 11.7% | ||
| Q1 25 | 1.4% | 17.9% | ||
| Q4 24 | 2.2% | 15.9% | ||
| Q3 24 | 2.8% | 11.7% | ||
| Q2 24 | 3.7% | 7.4% | ||
| Q1 24 | 2.2% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 9.54× | — | ||
| Q2 24 | 6.13× | — | ||
| Q1 24 | 4.70× | — |
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% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
