AMN Healthcare Services Inc (AMN)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	831,256	1,043,630	1,162,030	819,677	736,742
Debt-to-capital ratio		0.61	0.45	0.42	0.51	0.46

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,304,690K ÷ ($1,304,690K + $831,256K)
= 0.61

Based on the data provided, AMN Healthcare Services Inc.'s debt-to-capital ratio has shown some fluctuation over the past five years. In 2023, the company's debt-to-capital ratio increased to 0.61 from 0.45 in 2022. This suggests that the company's reliance on debt to finance its operations and growth has increased compared to the previous year.

When compared to 2021 and 2020, where the debt-to-capital ratios were 0.42 and 0.51 respectively, the 2023 ratio of 0.61 falls between these values. This indicates that the company's debt leverage position in 2023 is higher than in 2021 but lower than in 2020.

However, it is worth noting that the debt-to-capital ratio of 0.61 in 2023 is still within a reasonable range and does not appear to be at alarming levels. It would be essential for stakeholders to monitor future trends in the company's debt-to-capital ratio to assess the ongoing impact of financing decisions on AMN Healthcare Services Inc.'s overall financial health and risk profile.