AMN Healthcare Services Inc (AMN)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	1,304,690	843,505	842,322	857,961	617,159
Total assets	US$ in thousands	2,924,390	2,888,350	3,131,910	2,353,510	1,931,650
Debt-to-assets ratio		0.45	0.29	0.27	0.36	0.32

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,304,690K ÷ $2,924,390K
= 0.45

The debt-to-assets ratio for AMN Healthcare Services Inc. has shown fluctuations over the past five years, ranging from 0.27 to 0.45. In 2023, the ratio increased to 0.45 from 0.29 in 2022, indicating that the company relied more on debt to finance its assets relative to the prior year. This may suggest a shift towards a higher level of leverage in the company's capital structure. However, compared to 2021 and 2019 when the ratio was 0.27 and 0.32 respectively, the current ratio still remains higher.

It is important to note that a higher debt-to-assets ratio indicates a greater proportion of assets being financed by debt, which can potentially lead to higher financial risk due to increased interest payments and debt obligations. On the other hand, a lower ratio implies a lower reliance on debt for asset financing, indicating a stronger financial position and greater capacity to weather economic uncertainties.

Further analysis of the company's overall financial health, industry benchmarks, and strategic objectives would be beneficial to fully assess the implications of the observed changes in the debt-to-assets ratio for AMN Healthcare Services Inc.