AMN Healthcare Services Inc (AMN)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	1,304,690	939,393	1,034,100	983,801	843,505	843,210	842,914	842,618	842,322	842,027	841,731	896,435	857,961	894,533	956,106	1,083,910	617,159	611,899	662,610	470,798
Total stockholders’ equity	US$ in thousands	831,256	817,169	766,297	955,774	1,043,630	1,132,630	1,039,340	1,080,930	1,162,030	1,042,480	966,382	894,060	819,677	807,073	777,406	749,080	736,742	705,104	680,440	649,986
Debt-to-capital ratio		0.61	0.53	0.57	0.51	0.45	0.43	0.45	0.44	0.42	0.45	0.47	0.50	0.51	0.53	0.55	0.59	0.46	0.46	0.49	0.42

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

The debt-to-capital ratio of AMN Healthcare Services Inc. has shown fluctuations over the past eight quarters, ranging from 0.43 to 0.61. In Q4 2023, the ratio increased to 0.61, indicating that debt financing now represents 61% of the company's capital structure, which is a significant rise from the previous quarter. This suggests that AMN Healthcare Services Inc. has taken on more debt relative to its total capital during this period.

It is important to note that a higher debt-to-capital ratio may imply increased financial risk for the company, as higher debt levels can lead to higher interest expenses and potential cash flow challenges. On the other hand, a lower ratio, such as in Q3 2022 when it was 0.43, may indicate a more conservative capital structure with lower reliance on debt financing.

Overall, fluctuations in the debt-to-capital ratio of AMN Healthcare Services Inc. reflect changes in the company's capital structure and its approach to financing operations and growth initiatives. It is essential for stakeholders to monitor this ratio and consider its implications on the company's financial health and risk profile.