Comprehensive Stock Comparison
Compare AMN Healthcare Services, Inc. (AMN) vs HCA Healthcare, Inc. (HCA) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | HCA | 7.1% revenue growth vs AMN's -21.3% |
| Value | AMN | Lower P/E (9.6x vs 17.5x) |
| Quality / Margins | HCA | 9.0% net margin vs AMN's -3.5% |
| Stability / Safety | HCA | Beta 0.29 vs AMN's 1.00 |
| Dividends | HCA | 0.6% yield; 5-year raise streak; AMN pays no meaningful dividend |
| Momentum (1Y) | HCA | +73.9% vs AMN's -23.1% |
| Efficiency (ROA) | HCA | 11.2% ROA vs AMN's -4.6%, ROIC 19.9% vs -3.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
AMN Healthcare is a leading healthcare staffing and workforce solutions company that connects healthcare facilities with temporary and permanent medical professionals. It generates revenue primarily through staffing services—with nurse and allied staffing making up the largest segment—alongside physician placement and technology-enabled workforce management solutions. The company's scale, extensive network of healthcare professionals, and established relationships with thousands of healthcare facilities create significant barriers to entry for competitors.
HCA Healthcare is one of the largest for-profit hospital operators in the United States, providing comprehensive medical and surgical services through its network of acute care hospitals and outpatient facilities. It generates revenue primarily from patient services — including inpatient hospital stays, outpatient procedures, and emergency care — with the vast majority coming from government programs like Medicare and Medicaid alongside private insurance reimbursements. The company's scale advantage — operating over 180 hospitals concentrated in high-growth markets — creates significant purchasing power with suppliers and negotiating leverage with payers.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
HCA leads in 4 of 6 categories (Financial Metrics, Profitability & Efficiency). AMN leads in 1 (Valuation Metrics).
Financial Metrics (TTM)
HCA is the larger business by revenue, generating $75.6B annually — 27.7x AMN's $2.7B. HCA is the more profitable business, keeping 9.0% of every revenue dollar as net income compared to AMN's -3.5%. On growth, HCA holds the edge at +6.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | AMNAMN Healthcare Se… | HCAHCA Healthcare, I… |
|---|---|---|
| RevenueTrailing 12 months | $2.7B | $75.6B |
| EBITDAEarnings before interest/tax | $25M | $15.5B |
| Net IncomeAfter-tax profit | -$96M | $6.8B |
| Free Cash FlowCash after capex | $242M | $7.7B |
| Gross MarginGross profit ÷ Revenue | +28.3% | +41.5% |
| Operating MarginEBIT ÷ Revenue | -2.0% | +15.8% |
| Net MarginNet income ÷ Revenue | -3.5% | +9.0% |
| FCF MarginFCF ÷ Revenue | +8.9% | +10.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +1.8% | +6.7% |
| EPS Growth (YoY)Latest quarter vs prior year | +95.9% | +44.6% |
Valuation Metrics
On an enterprise value basis, HCA's 10.8x EV/EBITDA is more attractive than AMN's 29.2x.
| Metric | AMNAMN Healthcare Se… | HCAHCA Healthcare, I… |
|---|---|---|
| Market CapShares × price | $987M | $118.5B |
| Enterprise ValueMkt cap + debt − cash | $2.1B | $167.6B |
| Trailing P/EPrice ÷ TTM EPS | -5.06x | 18.66x |
| Forward P/EPrice ÷ next-FY EPS est. | 9.57x | 17.50x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.89x |
| EV / EBITDAEnterprise value multiple | 29.18x | 10.82x |
| Price / SalesMarket cap ÷ Revenue | 0.33x | 1.57x |
| Price / BookPrice ÷ Book value/share | 1.05x | — |
| Price / FCFMarket cap ÷ FCF | 4.12x | 15.40x |
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), HCA scores 7/9 vs AMN's 4/9, reflecting strong financial health.
| Metric | AMNAMN Healthcare Se… | HCAHCA Healthcare, I… |
|---|---|---|
| ROE (TTM)Return on equity | -14.9% | — |
| ROA (TTM)Return on assets | -4.6% | +11.2% |
| ROICReturn on invested capital | -3.9% | +19.9% |
| ROCEReturn on capital employed | -5.0% | +27.0% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 7 |
| Debt / EquityFinancial leverage | 1.55x | — |
| Net DebtTotal debt minus cash | $1.1B | $49.2B |
| Cash & Equiv.Liquid assets | $11M | $1.0B |
| Total DebtShort + long-term debt | $1.1B | $50.2B |
| Interest CoverageEBIT ÷ Interest expense | -1.39x | 5.37x |
Total Returns (with DRIP)
A $10,000 investment in HCA five years ago would be worth $30,878 today (with dividends reinvested), compared to $2,553 for AMN. Over the past 12 months, HCA leads with a +73.9% total return vs AMN's -23.1%. The 3-year compound annual growth rate (CAGR) favors HCA at 30.2% vs AMN's -40.0% — a key indicator of consistent wealth creation.
| Metric | AMNAMN Healthcare Se… | HCAHCA Healthcare, I… |
|---|---|---|
| YTD ReturnYear-to-date | +28.8% | +12.6% |
| 1-Year ReturnPast 12 months | -23.1% | +73.9% |
| 3-Year ReturnCumulative with dividends | -78.4% | +120.8% |
| 5-Year ReturnCumulative with dividends | -74.5% | +208.8% |
| 10-Year ReturnCumulative with dividends | -31.5% | +688.3% |
| CAGR (3Y)Annualised 3-year return | -40.0% | +30.2% |
Risk & Volatility
HCA is the less volatile stock with a 0.29 beta — it tends to amplify market swings less than AMN's 1.00 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. HCA currently trades 95.8% from its 52-week high vs AMN's 71.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | AMNAMN Healthcare Se… | HCAHCA Healthcare, I… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.00x | 0.29x |
| 52-Week HighHighest price in past year | $27.17 | $552.90 |
| 52-Week LowLowest price in past year | $14.87 | $295.00 |
| % of 52W HighCurrent price vs 52-week peak | +71.7% | +95.8% |
| RSI (14)Momentum oscillator 0–100 | 50.8 | 56.0 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 879K |
Analyst Outlook
Wall Street rates AMN as "Buy" and HCA as "Buy". Consensus price targets imply 17.5% upside for AMN (target: $23) vs -1.1% for HCA (target: $524). HCA is the only dividend payer here at 0.56% yield — a key consideration for income-focused portfolios.
| Metric | AMNAMN Healthcare Se… | HCAHCA Healthcare, I… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $22.88 | $523.92 |
| # AnalystsCovering analysts | 17 | 46 |
| Dividend YieldAnnual dividend ÷ price | — | +0.6% |
| Dividend StreakConsecutive years of raises | — | 5 |
| Dividend / ShareAnnual DPS | — | $2.94 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +8.5% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| AMN Healthcare Serv… (AMN) | 100 | 29.18 | -70.8% |
| HCA Healthcare, Inc. (HCA) | 100 | 367.9 | +267.9% |
HCA Healthcare, Inc. (HCA) returned +209% over 5 years vs AMN Healthcare Serv… (AMN)'s -74%. A $10,000 investment in HCA 5 years ago would be worth $30,878 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| AMN Healthcare Serv… (AMN) | $1.9B | $3.0B | +56.9% |
| HCA Healthcare, Inc. (HCA) | $41.5B | $75.6B | +82.2% |
HCA Healthcare, Inc.'s revenue grew from $41.5B (2016) to $75.6B (2025) — a 6.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| AMN Healthcare Serv… (AMN) | 5.6% | -4.9% | -188.5% |
| HCA Healthcare, Inc. (HCA) | 7.0% | 9.0% | +28.8% |
HCA Healthcare, Inc.'s net margin went from 7% (2016) to 9% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| AMN Healthcare Serv… (AMN) | 18.4 | 14 | -23.9% |
| HCA Healthcare, Inc. (HCA) | 14.8 | 16.5 | +11.5% |
AMN Healthcare Services, Inc. has traded in a 10x–46x P/E range over 7 years; current trailing P/E is ~-5x. HCA Healthcare, Inc. has traded in a 12x–17x P/E range over 9 years; current trailing P/E is ~19x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| AMN Healthcare Serv… (AMN) | 2.15 | -3.85 | -279.1% |
| HCA Healthcare, Inc. (HCA) | 7.3 | 28.38 | +288.8% |
HCA Healthcare, Inc.'s EPS grew from $7.30 (2016) to $28.38 (2025) — a 16% CAGR.
Chart 6Free Cash Flow — 5 Years
AMN Healthcare Services, Inc. generated $240M FCF in 2024 (-5% vs 2021). HCA Healthcare, Inc. generated $8B FCF in 2025 (+43% vs 2021).
AMN vs HCA: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is AMN or HCA a better buy right now?
HCA Healthcare, Inc. (HCA) offers the better valuation at 18.7x trailing P/E (17.5x forward), making it the more compelling value choice. Analysts rate AMN Healthcare Services, Inc. (AMN) a "Buy" — based on 17 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — AMN or HCA?
On forward P/E, AMN Healthcare Services, Inc. is actually cheaper at 9.6x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — AMN or HCA?
Over the past 5 years, HCA Healthcare, Inc. (HCA) delivered a total return of +208.8%, compared to -74.5% for AMN Healthcare Services, Inc. (AMN). A $10,000 investment in HCA five years ago would be worth approximately $31K today (assuming dividends reinvested). Over 10 years, the gap is even starker: HCA returned +688.3% versus AMN's -31.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — AMN or HCA?
By beta (market sensitivity over 5 years), HCA Healthcare, Inc. (HCA) is the lower-risk stock at 0.29β versus AMN Healthcare Services, Inc.'s 1.00β — meaning AMN is approximately 241% more volatile than HCA relative to the S&P 500.
05Which has better profit margins — AMN or HCA?
HCA Healthcare, Inc. (HCA) is the more profitable company, earning 9.0% net margin versus -4.9% for AMN Healthcare Services, Inc. — meaning it keeps 9.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HCA leads at 15.8% versus -3.4% for AMN. At the gross margin level — before operating expenses — HCA leads at 41.5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is AMN or HCA more undervalued right now?
On forward earnings alone, AMN Healthcare Services, Inc. (AMN) trades at 9.6x forward P/E versus 17.5x for HCA Healthcare, Inc. — 7.9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AMN: 17.5% to $22.88.
07Which pays a better dividend — AMN or HCA?
In this comparison, HCA (0.6% yield) pays a dividend. AMN does not pay a meaningful dividend and should not be held primarily for income.
08Is AMN or HCA better for a retirement portfolio?
For long-horizon retirement investors, HCA Healthcare, Inc. (HCA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.29), 0.6% yield, +688.3% 10Y return). Both have compounded well over 10 years (HCA: +688.3%, AMN: -31.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between AMN and HCA?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. HCA pays a dividend while AMN does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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