AMN Healthcare Services Inc (AMN)

Debt-to-equity 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-equity ratio		1.57	0.81	0.72	1.05	0.84

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,304,690K ÷ $831,256K
= 1.57

The debt-to-equity ratio of AMN Healthcare Services Inc. has shown fluctuations over the past five years. In 2023, the ratio increased to 1.57 from 0.81 in 2022, indicating a higher reliance on debt financing relative to equity. This significant increase may suggest a more aggressive debt management strategy or financial leverage undertaken by the company during that year.

Comparing to the previous years, in 2021, the ratio was 0.72, showing a lower level of debt compared to equity, which could indicate a more conservative financing approach. However, in 2020, the ratio spiked to 1.05, reflecting a higher proportion of debt in the capital structure compared to equity, possibly due to increased borrowing or a decrease in equity.

Overall, the trend in the debt-to-equity ratio for AMN Healthcare Services Inc. indicates some variability in the company's capital structure decisions over the years, with fluctuations between higher and lower debt levels relative to equity. It is essential for stakeholders to monitor this ratio closely to assess the company's financial risk and stability.