Amn Healthcare Services vs Hims & Hers Health
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The short version
- Amn Healthcare Services is the larger business, with $2.7B of revenue in fiscal 2025 against $2.3B for Hims & Hers Health.
- Hims & Hers Health grew revenue faster (59.0%, against −8.5%).
- Hims & Hers Health kept more of each dollar of sales as operating profit (4.5% operating margin, against −2.0%).
- Amn Healthcare Services turned more of its sales into free cash flow (8.6% FCF margin, against 2.5%).
- Hims & Hers Health earned a higher return on the capital invested in it (19.0%, against −2.8%).
| Latest fiscal year | AMN · FY25 | HIMS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.9B | $6.4B |
| Revenue | $2.7B | $2.3B |
| Free cash flow | $234M | $57.4M |
| Net income | −$95.7M | $128M |
| Growth | ||
| Revenue growth | −8.5% | 59.0% |
| 5-year growth | 2.7% | 73.6% |
| Share count change | 0.9% | 9.1% |
| Profitability | ||
| Gross margin | 28.4% | 73.8% |
| Operating margin | −2.0% | 4.5% |
| Net margin | −3.5% | 5.5% |
| FCF margin | 8.6% | 2.5% |
| Return on capital | −2.8% | 19.0% |
| Return on equity | −14.2% | 25.2% |
| Balance sheet | ||
| Net debt | $733M | $395M |
| Net debt / EBITDA | 7.3x | 2.5x |
| Dividends and buybacks | $0.0M | $90.0M |
| Valuation & quality | ||
| P/E | 17.8x | — |
| Piotroski F-score | 5 | 4 |
Revenue
FY16
AMN $1.9B
HIMS —
FY17
AMN $2.0B
HIMS —
FY18
AMN $2.1B
HIMS —
FY19
AMN $2.2B
HIMS $82.6M
FY20
AMN $2.4B
HIMS $149M
FY21
AMN $4.0B
HIMS $272M
FY22
AMN $5.2B
HIMS $527M
FY23
AMN $3.8B
HIMS $872M
FY24
AMN $3.0B
HIMS $1.5B
FY25
AMN $2.7B
HIMS $2.3B
AMN
HIMS
Operating margin
FY16
AMN 10.1%
HIMS —
FY17
AMN 10.7%
HIMS —
FY18
AMN 9.5%
HIMS —
FY19
AMN 8.0%
HIMS −90.1%
FY20
AMN 6.2%
HIMS −10.2%
FY21
AMN 12.0%
HIMS −42.3%
FY22
AMN 12.3%
HIMS −13.0%
FY23
AMN 8.9%
HIMS −3.4%
FY24
AMN −3.4%
HIMS 4.2%
FY25
AMN −2.0%
HIMS 4.5%
AMN
HIMS
Free cash flow
FY16
AMN $112M
HIMS —
FY17
AMN $134M
HIMS —
FY18
AMN $192M
HIMS —
FY19
AMN $190M
HIMS −$75.2M
FY20
AMN $219M
HIMS −$4.2M
FY21
AMN $252M
HIMS −$35.2M
FY22
AMN $578M
HIMS −$33.7M
FY23
AMN $268M
HIMS $47.0M
FY24
AMN $240M
HIMS $198M
FY25
AMN $234M
HIMS $57.4M
AMN
HIMS
Return on capital
FY16
AMN 17.5%
HIMS —
FY17
AMN 17.6%
HIMS —
FY18
AMN 15.9%
HIMS —
FY19
AMN 11.6%
HIMS —
FY20
AMN 7.9%
HIMS —
FY21
AMN 20.3%
HIMS —
FY22
AMN 26.0%
HIMS −49.5%
FY23
AMN 12.8%
HIMS −18.2%
FY24
AMN −4.2%
HIMS 41.3%
FY25
AMN −2.8%
HIMS 19.0%
AMN
HIMS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.