Tearsheet

Cross Country Healthcare (CCRN)


Market Price (12/30/2025): $8.21 | Market Cap: $267.0 Mil
Sector: Health Care | Industry: Health Care Facilities

Cross Country Healthcare (CCRN)


Market Price (12/30/2025): $8.21
Market Cap: $267.0 Mil
Sector: Health Care
Industry: Health Care Facilities

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -36%
Weak multi-year price returns
2Y Excs Rtn is -109%, 3Y Excs Rtn is -149%
Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -22%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -26%, Rev Chg QQuarterly Revenue Change % is -21%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -33%
  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -10%
2 Attractive yield
FCF Yield is 17%
  Key risks
CCRN key risks include [1] a significant decline in demand for staffing services and [2] regulatory uncertainty surrounding its pending acquisition.
3 Low stock price volatility
Vol 12M is 43%
  
4 Megatrend and thematic drivers
Megatrends include Healthcare Workforce Innovation, and Healthcare Talent & Labor Market Dynamics. Themes include Clinical Staffing Solutions, Integrated Workforce Management, Show more.
  
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -36%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -33%
2 Attractive yield
FCF Yield is 17%
3 Low stock price volatility
Vol 12M is 43%
4 Megatrend and thematic drivers
Megatrends include Healthcare Workforce Innovation, and Healthcare Talent & Labor Market Dynamics. Themes include Clinical Staffing Solutions, Integrated Workforce Management, Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -109%, 3Y Excs Rtn is -149%
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -22%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -26%, Rev Chg QQuarterly Revenue Change % is -21%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -10%
8 Key risks
CCRN key risks include [1] a significant decline in demand for staffing services and [2] regulatory uncertainty surrounding its pending acquisition.

Valuation, Metrics & Events

CCRN Stock


Why The Stock Moved


Qualitative Assessment

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1. Termination of the Merger with Aya Healthcare. On December 4, 2025, Cross Country Healthcare announced the termination of its merger agreement with Aya Healthcare. This decision followed a prolonged regulatory review process and an extended HSR waiting period, which resulted in the stock tumbling 20% on the day of the announcement. Aya Healthcare cited "uncertainty, time and resource burden resulting from a possible challenge by the FTC" as reasons for abandoning the transaction.

2. Significant Decline in Revenue, Particularly in Nurse and Allied Staffing. The company experienced substantial year-over-year revenue decreases in its key segments. Notably, Q3 2025 saw a 21% year-over-year revenue drop. The Nurse and Allied Staffing segment was primarily responsible for these losses, significantly impacting the overall financial results.

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Stock Movement Drivers

Fundamental Drivers

The -40.4% change in CCRN stock from 9/29/2025 to 12/29/2025 was primarily driven by a -36.9% change in the company's P/S Multiple.
929202512292025Change
Stock Price ($)13.768.20-40.41%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1192.541127.47-5.46%
P/S Multiple0.370.24-36.91%
Shares Outstanding (Mil)32.4932.52-0.10%
Cumulative Contribution-40.41%

LTM = Last Twelve Months as of date shown

Market Drivers

9/29/2025 to 12/29/2025
ReturnCorrelation
CCRN-40.4% 
Market (SPY)3.6%29.5%
Sector (XLV)14.7%24.2%

Fundamental Drivers

The -37.2% change in CCRN stock from 6/30/2025 to 12/29/2025 was primarily driven by a -29.4% change in the company's P/S Multiple.
630202512292025Change
Stock Price ($)13.058.20-37.16%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1258.241127.47-10.39%
P/S Multiple0.330.24-29.35%
Shares Outstanding (Mil)32.2832.52-0.75%
Cumulative Contribution-37.17%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 12/29/2025
ReturnCorrelation
CCRN-37.2% 
Market (SPY)11.6%27.7%
Sector (XLV)16.1%13.5%

Fundamental Drivers

The -54.4% change in CCRN stock from 12/29/2024 to 12/29/2025 was primarily driven by a -42.4% change in the company's P/S Multiple.
1229202412292025Change
Stock Price ($)18.008.20-54.44%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1448.101127.47-22.14%
P/S Multiple0.410.24-42.36%
Shares Outstanding (Mil)33.0232.521.49%
Cumulative Contribution-54.45%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2024 to 12/29/2025
ReturnCorrelation
CCRN-54.4% 
Market (SPY)16.6%15.3%
Sector (XLV)13.6%8.4%

Fundamental Drivers

The -69.1% change in CCRN stock from 12/30/2022 to 12/29/2025 was primarily driven by a -60.0% change in the company's Total Revenues ($ Mil).
1230202212292025Change
Stock Price ($)26.578.20-69.14%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2819.071127.47-60.01%
P/S Multiple0.350.24-32.35%
Shares Outstanding (Mil)37.1032.5212.34%
Cumulative Contribution-69.61%

LTM = Last Twelve Months as of date shown

Market Drivers

12/30/2023 to 12/29/2025
ReturnCorrelation
CCRN-63.8% 
Market (SPY)47.9%12.0%
Sector (XLV)17.6%7.3%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
CCRN Return-24%213%-4%-15%-20%-56%-31%
Peers Return16%38%-12%21%26%16%151%
S&P 500 Return16%27%-19%24%23%17%114%

Monthly Win Rates [3]
CCRN Win Rate50%67%42%33%25%25% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
CCRN Max Drawdown-59%-2%-43%-32%-57%-59% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/29/2025 (YTD)

How Low Can It Go

Unique KeyEventCCRNS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-52.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven112.4%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-59.1%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven144.6%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven291 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-57.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven137.0%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven746 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-77.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven339.8%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven4,623 days1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Cross Country Healthcare's stock fell -52.9% during the 2022 Inflation Shock from a high on 10/28/2022. A -52.9% loss requires a 112.4% gain to breakeven.

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About Cross Country Healthcare (CCRN)

Cross Country Healthcare, Inc. provides talent management and other consultative services for healthcare clients in the United States. The company operates in two segments, Nurse and Allied Staffing and Physician Staffing. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, local nurses, and allied staffing; staffing solutions for registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and clinical and non-clinical professionals on long-term contract assignments, as well as workforce solutions, including MSP, RPO, and consulting services. It also provides retained search services for healthcare professionals, as well as contingent search and recruitment process outsourcing services. This segment serves public and private acute care and non-acute care hospitals, government facilities, local and national healthcare plans, managed care providers, public and charter schools, outpatient clinics, ambulatory care facilities, physician practice groups, and other healthcare providers under the Cross Country brand. The Physician Staffing segment provides physicians in various specialties, certified registered nurse anesthetists, nurse practitioners, and physician assistants under the Cross Country Locums brand as independent contractors on temporary assignments at various healthcare facilities, such as acute and non-acute care facilities, medical group practices, government facilities, and managed care organizations. The company was founded in 1986 and is headquartered in Boca Raton, Florida.

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  • Robert Half for healthcare professionals.
  • Adecco for the medical industry.

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  • Travel Nurse and Allied Staffing: Provides temporary and contract nurses and allied health professionals to healthcare facilities nationwide.
  • Physician Staffing: Offers locum tenens and permanent placement services for physicians and advanced practice professionals.
  • Workforce Solutions: Delivers comprehensive managed services programs (MSPs) and recruitment process outsourcing (RPOs) to optimize staffing for healthcare systems.

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Cross Country Healthcare (CCRN) primarily sells its services to other companies, specifically healthcare providers.

Its customer base is highly diversified, consisting of thousands of hospitals, health systems, and other healthcare facilities across the United States. Cross Country Healthcare provides staffing solutions, workforce management services, and other human capital solutions to these entities.

As per their public filings (e.g., annual 10-K reports), no single customer accounted for 10% or more of Cross Country Healthcare's consolidated revenues in recent years. This indicates that the company does not have a few 'major' customers in the traditional sense, but rather a large and fragmented customer base within the healthcare industry. Therefore, specific names of individual 'major customer companies' that would be disclosable are not identified.

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John A. Martins, President and Chief Executive Officer

Mr. Martins has served as President and Chief Executive Officer of Cross Country Healthcare since April 2022. He joined the company in January 2021 as Group President, Nurse and Allied. With over 15 years of experience in the healthcare staffing industry, Mr. Martins previously served as Senior Vice President of Operations Strategy for Aya Healthcare, Inc. from November 2017 to January 2020. He also held the role of Senior Vice President, General Manager of AMN Healthcare Services, Inc. from January 2015 to October 2017, and was President of Onward Healthcare from February 2008 to January 2015. Onward Healthcare was acquired by AMN Healthcare in January 2015, where Mr. Martins subsequently became a Senior Vice President, General Manager. His expertise includes travel nurse and allied, per diem, locum tenens, and education staffing services, along with digital innovation and technology development.

William J. Burns, Executive Vice President and Chief Financial Officer

Mr. Burns is responsible for leading Cross Country Healthcare's finance, accounting & tax, treasury, procurement, investor relations, and shared services functions. He brings over 25 years of experience to his role and is a Certified Public Accountant. Prior to joining Cross Country Healthcare, Mr. Burns held leadership positions at Gartner, CA, Adecco, and Honeywell.

Kevin C. Clark, Co-Founder and Chairman

Mr. Clark co-founded Cross Country Healthcare Inc. in 1986, initially serving as Chairman and CEO until 1994, during which time the business was sold to W.R. Grace & Co. He returned as President and Chief Executive Officer of Cross Country Healthcare in January 2019, serving until March 2022, when he became non-executive Chairman. His extensive career includes co-founding Onward Healthcare in 2002, and leading Medefis and Locum Leaders, all of which were acquired in 2015. He also served as Chairman and Chief Executive Officer of Talivity, Inc. (2015-2018), OGH, LLC (2002-2015), Pinnacor Inc. (1999-2001), and Poppe Tyson, Inc. (1996-1998).

Susan E. Ball, J.D., MBA, RN, Executive Vice President, Chief Administrative Officer, General Counsel and Secretary

Ms. Ball serves as the legal advisor to Cross Country Healthcare's CEO and board of directors, overseeing corporate governance, securities matters, risk management, workers' compensation, insurance, litigation, and mergers and acquisitions. Before embarking on her legal career, she was a Registered Nurse, providing her with unique insights into the company's legal matters. She also has extensive experience with public company issues.

Marc Krug, J.D., Group President, Delivery

Mr. Krug oversees the strategic vision and execution for Cross Country Healthcare's CCN, CCA, and CCMSN delivery brands, operations, and proprietary technology platforms.

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The key risks to Cross Country Healthcare (CCRN) include a significant decline in demand for staffing services, regulatory uncertainty surrounding its pending acquisition, and competitive pressures leading to bill pay spread compression.

  1. Softening Demand for Travel and Local Staffing: Cross Country Healthcare is experiencing a substantial decline in market demand for travel and local staffing assignments, particularly within its Nurse and Allied segment. This post-pandemic contraction has led to significantly lower bill rates and a notable decrease in revenue and gross margins. The Nurse and Allied segment, a primary revenue driver, has seen a substantial year-over-year revenue decline, as hospitals prioritize permanent staffing and implement cost-containment measures.
  2. Regulatory Scrutiny and Uncertainty of Aya Healthcare Acquisition: The proposed acquisition of Cross Country Healthcare by Aya Healthcare faces heightened regulatory scrutiny from the Federal Trade Commission (FTC). This has resulted in an extended timeline for regulatory review and potential additional inquiries, creating significant uncertainty. The ongoing regulatory oversight has contributed to Cross Country Healthcare's stock trading at a discount relative to the announced deal price. Should the acquisition face prolonged delays or ultimately not be approved, it could adversely impact the company's standalone valuation and future strategic plans, as well as broader consolidation efforts within the healthcare staffing sector.
  3. Bill Pay Spread Compression due to Competition: The competitive nature of the healthcare staffing market, particularly in the Travel, Nurse, and Allied sectors, is leading to bill pay spread compression. Competitors often offer high compensation packages to attract clinicians, which puts pressure on the difference between what clients are willing to pay for services (bill rates) and what clinicians are paid (pay rates). This intense competition limits Cross Country Healthcare's ability to normalize its gross margins.

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Clear Emerging Threats to Cross Country Healthcare (CCRN):

  • Rise of direct-to-facility and "gig economy" healthcare staffing platforms: A growing number of technology-first companies (e.g., Trusted Health, Clipboard Health, Gale Healthcare Solutions) are developing platforms that aim to disintermediate traditional healthcare staffing agencies. These platforms leverage AI, mobile apps, and direct contracting models to connect healthcare professionals directly with facilities, offering increased flexibility and potentially lower costs. This mirrors the disruption seen in industries like transportation (Uber vs. traditional taxis) and hospitality (Airbnb vs. hotels), posing a significant threat to CCRN's traditional intermediary business model.

  • Healthcare facilities' strategic initiatives to reduce reliance on temporary agency staff: Following the unprecedented costs incurred during the COVID-19 pandemic for temporary agency staff, many hospitals and health systems are actively implementing strategies to reduce their dependence on external staffing agencies. These initiatives include building robust internal float pools, enhancing retention programs, improving internal recruitment processes, and even establishing their own "internal travel nurse" programs. This strategic shift directly threatens the demand for CCRN's core services by reducing the addressable market for agency-provided staff.

  • Growing regulatory pressure and legislative efforts to cap agency rates: Several states have introduced or are actively considering legislation aimed at capping the rates that healthcare staffing agencies can charge hospitals or increasing transparency requirements around agency fees and profit margins. While the broad adoption and enforceability of such measures are still evolving, this trend represents a clear regulatory risk that could compress profit margins and alter the economic model for companies like CCRN, directly impacting their revenue and profitability.

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Cross Country Healthcare, Inc. (CCRN) operates primarily in the healthcare staffing industry within the United States, offering talent management and consultative services. The company's main products and services fall into two primary segments: Nurse and Allied Staffing, and Physician Staffing.

Addressable Markets:

  • U.S. Healthcare Staffing Market: This overarching market, encompassing all of Cross Country Healthcare's primary services, was valued at approximately USD 20.5 billion in 2022 and an estimated USD 23.6 billion in 2023. Projections indicate growth to approximately USD 34.7 billion by 2030, with a compound annual growth rate (CAGR) of 6.69% from 2023. Other reports estimate the U.S. healthcare staffing market size at USD 19.49 billion in 2024, growing to around USD 33.86 billion by 2034, at a CAGR of 5.68% from 2025 to 2034. Another source indicates the market size was USD 19.47 billion in 2024 and is predicted to increase from USD 21.59 billion in 2025 to approximately USD 40.16 billion by 2034, expanding at a CAGR of 5.71%.
  • U.S. Travel Nurse Staffing Market: This segment dominated the U.S. healthcare staffing market, holding a share of 39.55% in 2022 and approximately 45.15% in 2024. The travel nursing market was estimated at about USD 5.6 billion in 2018 and was predicted to increase to USD 15.6 billion by 2023. It is expected to be the fastest-growing segment with a CAGR of 6.37%.
  • U.S. Physician Staffing (Locum Tenens) Market: The locum tenens staffing segment is anticipated to experience significant growth. The global healthcare physician staffing market size was estimated at USD 30.32 billion in 2023 and is projected to reach USD 57.31 billion by 2033, growing at a CAGR of 6.57%. While this is a global figure, it indicates a substantial market for physician staffing that Cross Country Healthcare addresses in the U.S.
  • U.S. Allied Health Staffing Market: Within the U.S. allied health temporary staffing sector, revenue decreased by 12.8% in the first half of 2024 compared to the first half of 2023. "Other allied health" occupations represented the largest market share at 22.6% of total allied staffing revenue in the first half of 2024. Specific market size figures for the entire U.S. allied health staffing market as a standalone entity are not explicitly provided in the search results, but it is a component of the broader U.S. healthcare staffing market.

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Cross Country Healthcare (CCRN) is expected to navigate a mixed revenue landscape over the next two to three years, with overall revenue forecast to decline by analysts due to the normalization of the travel nurse market. However, several segments and strategic initiatives are identified as key drivers for future revenue growth within the company:

  1. Growth in Physician Staffing (Locum Tenens) Services: This segment has demonstrated consistent growth, with physician staffing revenue increasing 3.0% year-over-year in the second quarter of 2025. In the third quarter of 2024, physician staffing revenue was up 10% year-over-year and 4% sequentially, with analysts forecasting low double-digit growth for this business in 2024 and continued expansion in 2025, driven by an increase in billable days and higher revenue per day. Strategic acquisitions, such as those made in late 2022, have also contributed significantly to scaling this business.
  2. Expansion in Home Care Staffing: Cross Country Healthcare's home care revenue experienced substantial growth, rising more than 30% year-over-year in the second quarter of 2025. This segment represents a strong area of growth for the company as demand for in-home healthcare services continues to increase.
  3. Strategic Acquisitions: The company has a history of leveraging strategic acquisitions to bolster its service offerings and market share. An example of this is the announced acquisition of assets from Mint Medical Physician Staffing, LP and Lotus Medical Staffing LLC in September 2025, which aims to enhance its physician staffing capabilities.
  4. Managed Services Programs (MSPs) and Client Retention: Cross Country Healthcare reported steady client retention rates and a robust pipeline for new Managed Services Programs implementations and expansions in the latter half of 2025. These programs are crucial for optimizing workforce utilization and reducing operational costs for healthcare providers, fostering deeper client relationships and securing long-term service contracts.

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Share Repurchases

  • On May 1, 2023, the Board of Directors authorized an aggregate of $100.0 million in share repurchases under the Repurchase Program.
  • Cross Country Healthcare repurchased over 2.4 million shares for $36.8 million in full-year 2024.
  • As of June 30, 2025, $40.5 million remained authorized for share repurchase.

Share Issuance

  • As of February 18, 2025, there were 32,812,580 shares of Common Stock outstanding.
  • Performance Stock Awards were issued under the 2020 Omnibus Incentive Plan beginning March 31, 2021.

Inbound Investments

  • Aya Healthcare announced the acquisition of Cross Country Healthcare for approximately $615 million in an all-cash transaction at $18.61 per share.
  • This acquisition is anticipated to close in the second half of 2025, after which Cross Country Healthcare is expected to become a private company.

Outbound Investments

  • On December 13, 2022, the company completed the acquisition of Hireup Leadership Inc.
  • On June 8, 2021, Cross Country Healthcare completed the asset acquisition of Workforce Solutions Group, Inc. for $25.0 million in cash and $5.0 million in shares, with a potential earn-out of up to an additional $15.0 million.

Capital Expenditures

No specific dollar value for capital expenditures or expected capital expenditures for upcoming years was found in the provided information for the last 3-5 years.

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Trade Ideas

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Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CRL_11142025_Dip_Buyer_FCFYield11142025CRLCharles River Laboratories InternationalDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
21.4%21.4%-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE11142025GDRXGoodRxDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-7.4%-7.4%-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025ASTHAstrana HealthDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
18.0%18.0%-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025SGRYSurgery PartnersDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
3.9%3.9%-1.4%
TFX_11072025_Dip_Buyer_FCFYield11072025TFXTeleflexDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
12.2%12.2%-5.1%

Recent Active Movers

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Peer Comparisons for Cross Country Healthcare

Peers to compare with:

Financials

CCRNHPQHPEIBMCSCOAAPLMedian
NameCross Co.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price8.2022.7324.33305.7477.79273.7651.06
Mkt Cap0.321.432.4285.5307.74,079.8159.0
Rev LTM1,12755,29534,29665,40257,696408,62556,496
Op Inc LTM53,6241,64411,54412,991130,2147,584
FCF LTM462,80062711,85412,73396,1847,327
FCF 3Y Avg1242,9781,40011,75313,879100,5037,366
CFO LTM543,6972,91913,48313,744108,5658,590
CFO 3Y Avg1343,6723,89613,49814,736111,5598,697

Growth & Margins

CCRNHPQHPEIBMCSCOAAPLMedian
NameCross Co.HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM-22.1%3.2%13.8%4.5%8.9%6.0%5.2%
Rev Chg 3Y Avg-26.0%-3.9%6.5%2.6%3.7%1.8%2.2%
Rev Chg Q-20.6%4.2%14.4%9.1%7.5%9.6%8.3%
QoQ Delta Rev Chg LTM-5.5%1.1%3.7%2.1%1.8%2.1%2.0%
Op Mgn LTM0.5%6.6%4.8%17.7%22.5%31.9%12.1%
Op Mgn 3Y Avg3.5%7.4%7.2%16.4%24.2%30.8%11.9%
QoQ Delta Op Mgn LTM-0.4%-0.2%-1.4%0.6%0.4%0.1%-0.1%
CFO/Rev LTM4.8%6.7%8.5%20.6%23.8%26.6%14.6%
CFO/Rev 3Y Avg7.7%6.8%12.7%21.4%26.1%28.4%17.1%
FCF/Rev LTM4.1%5.1%1.8%18.1%22.1%23.5%11.6%
FCF/Rev 3Y Avg7.0%5.5%4.6%18.6%24.6%25.6%12.8%

Valuation

CCRNHPQHPEIBMCSCOAAPLMedian
NameCross Co.HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap0.321.432.4285.5307.74,079.8159.0
P/S0.20.40.94.45.310.02.7
P/EBIT-19.26.619.725.122.431.321.1
P/E-17.08.4569.036.129.841.133.0
P/CFO4.95.811.121.222.437.616.1
Total Yield-5.9%14.4%2.3%5.0%5.5%2.8%3.9%
Dividend Yield0.0%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg19.5%10.6%5.5%6.4%6.0%3.1%6.2%
D/E0.00.50.70.20.10.00.2
Net D/E-0.40.30.60.20.00.00.1

Returns

CCRNHPQHPEIBMCSCOAAPLMedian
NameCross Co.HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn-20.1%-5.8%11.9%-0.9%1.1%-1.8%-1.4%
3M Rtn-40.4%-14.5%1.4%9.9%15.6%7.7%4.5%
6M Rtn-37.2%-5.0%20.3%5.0%13.5%33.7%9.2%
12M Rtn-54.4%-28.7%15.4%40.8%33.9%7.6%11.5%
3Y Rtn-69.1%-5.3%65.8%142.1%78.3%113.9%72.0%
1M Excs Rtn-24.5%-5.5%12.3%-0.5%0.9%-2.7%-1.6%
3M Excs Rtn-44.1%-18.1%-2.3%6.2%11.9%4.0%0.9%
6M Excs Rtn-48.5%-16.3%9.0%-6.3%2.2%22.4%-2.1%
12M Excs Rtn-68.7%-43.3%-0.2%25.4%19.0%-7.8%-4.0%
3Y Excs Rtn-148.7%-82.8%-10.4%61.9%0.1%27.1%-5.1%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Nurse and Allied Staffing1,8412,7001,606768733
Physician Staffing178106716875
Search    15
Total2,0202,8071,677836822


Operating Income by Segment
$ Mil20242023202220212020
Nurse and Allied Staffing1973552067464
Physician Staffing106443
Acquisition and integration-related costs-0    
Impairment charges-1-6-2-16-16
Legal and other losses-1    
Restructuring costs-3-2-3-6-4
Depreciation and amortization-18-13-10-13-14
Corporate overhead-71-67-55-52-46
Legal settlement charges 0  -2
Other costs -1-1-0-0
Search    -1
Total113273139-9-16


Price Behavior

Price Behavior
Market Price$8.20 
Market Cap ($ Bil)0.3 
First Trading Date10/25/2001 
Distance from 52W High-55.1% 
   50 Days200 Days
DMA Price$10.56$12.82
DMA Trenddowndown
Distance from DMA-22.4%-36.0%
 3M1YR
Volatility69.1%43.6%
Downside Capture196.8875.85
Upside Capture-88.78-14.12
Correlation (SPY)29.3%15.1%
CCRN Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta1.731.771.711.300.420.47
Up Beta-1.331.621.460.870.060.18
Down Beta8.733.453.362.700.480.44
Up Capture46%-7%20%33%48%10%
Bmk +ve Days12253873141426
Stock +ve Days9172557105347
Down Capture211%195%164%132%78%99%
Bmk -ve Days7162452107323
Stock -ve Days9233664130386

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of CCRN With Other Asset Classes (Last 1Y)
 CCRNSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-54.2%13.8%16.7%65.4%7.5%4.2%-7.3%
Annualized Volatility43.3%17.2%19.4%19.8%15.3%17.0%34.9%
Sharpe Ratio-1.670.590.672.430.270.08-0.06
Correlation With Other Assets 8.3%15.2%7.4%11.6%14.1%3.5%

ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of CCRN With Other Asset Classes (Last 5Y)
 CCRNSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-2.1%8.4%14.8%17.7%11.2%5.1%30.2%
Annualized Volatility59.7%14.5%17.1%15.6%18.7%18.9%48.6%
Sharpe Ratio0.190.400.700.910.480.180.57
Correlation With Other Assets 17.8%22.1%-0.1%1.7%18.2%11.1%

ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of CCRN With Other Asset Classes (Last 10Y)
 CCRNSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-7.2%10.1%15.0%14.6%6.9%5.4%69.0%
Annualized Volatility57.2%16.6%18.0%14.8%17.6%20.8%55.8%
Sharpe Ratio0.100.500.720.820.310.230.89
Correlation With Other Assets 27.0%30.7%-2.0%7.0%25.2%8.2%

ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity1,204,503
Short Interest: % Change Since 11302025-63.1%
Average Daily Volume2,197,263
Days-to-Cover Short Interest1
Basic Shares Quantity32,524,000
Short % of Basic Shares3.7%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/12/2025-14.1%-8.8%-34.8%
8/6/2025-4.4%0.1%7.6%
3/5/2025-6.3%-5.8%-12.0%
11/6/20241.0%-16.9%48.8%
7/31/2024-3.8%-13.7%-17.2%
5/1/2024-6.5%-8.0%-15.5%
2/21/2024-0.2%9.9%10.4%
11/1/2023-13.8%-19.4%-10.4%
...
SUMMARY STATS   
# Positive9810
# Negative131412
Median Positive4.9%11.9%15.9%
Median Negative-6.5%-13.0%-11.2%
Max Positive24.7%17.1%48.8%
Max Negative-17.0%-21.3%-34.8%

SEC Filings

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Report DateFiling DateFiling
09/30/202511/12/202510-Q (09/30/2025)
06/30/202508/06/202510-Q (06/30/2025)
03/31/202505/07/202510-Q (03/31/2025)
12/31/202403/05/202510-K (12/31/2024)
09/30/202411/07/202410-Q (09/30/2024)
06/30/202408/01/202410-Q (06/30/2024)
03/31/202405/02/202410-Q (03/31/2024)
12/31/202302/23/202410-K (12/31/2023)
09/30/202311/02/202310-Q (09/30/2023)
06/30/202308/03/202310-Q (06/30/2023)
03/31/202305/04/202310-Q (03/31/2023)
12/31/202202/23/202310-K (12/31/2022)
09/30/202211/03/202210-Q (09/30/2022)
06/30/202208/04/202210-Q (06/30/2022)
03/31/202205/05/202210-Q (03/31/2022)
12/31/202102/28/202210-K (12/31/2021)