USPH · U S Physical Therapy Inc /NV - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $198.29M | - | $197.13M | $197.34M | $183.79M | - | $168.03M | $167.19M | $155.68M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | $32.75M | - | $36.87M | $41.62M | $31.07M | - | $29.13M | $33.86M | $28.40M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $18.27M | - | $17.41M | $17.48M | $16.25M | - | $14.38M | $14.25M | $14.09M | - |
| Total Operating Expenses | $165.53M | - | $160.26M | $155.72M | $152.72M | - | $138.90M | $133.33M | $127.27M | - |
| D&A | $6.00M | - | $5.50M | $5.74M | $5.87M | - | - | - | $4.09M | - |
| Operating Income | $12.48M | - | $25.33M | $24.94M | $19.64M | - | $14.75M | $19.61M | $14.32M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $2.41M | - | $5.23M | $4.93M | $3.86M | - | $2.56M | $3.08M | $3.14M | - |
| Net Income | $5.04M | - | $13.14M | $12.39M | $9.90M | - | $6.63M | $7.51M | $8.05M | - |
| EPS - Basic | ($0.12) | - | $0.48 | $0.58 | $0.80 | - | $0.39 | $0.47 | $0.46 | - |
| EPS - Diluted | ($0.12) | - | $0.48 | $0.58 | $0.80 | - | $0.39 | $0.47 | $0.46 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $28.44M | $35.57M | $31.10M | $34.09M | $39.18M | $41.36M | $116.96M | $112.91M | $132.29M | $152.82M |
| Accounts Receivable | $69.08M | $64.25M | $67.63M | $65.96M | $64.76M | $59.04M | $57.02M | $54.66M | $55.36M | $51.87M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $6.76M | $6.06M | $7.42M | $4.20M | $6.09M | $5.94M | $6.36M | $4.10M | $4.87M | $3.90M |
| Current Assets | $139.11M | $139.99M | $138.44M | $140.53M | $145.35M | $137.58M | $204.87M | $201.68M | $221.14M | $233.38M |
| Total Assets | $1.24B | $1.20B | $1.20B | $1.18B | $1.18B | $1.17B | $1.03B | $1.02B | $1.02B | $997.24M |
| Current Liabilities | $117.30M | $139.04M | $115.08M | $118.84M | $123.80M | $116.28M | $115.30M | $107.10M | $102.54M | $102.19M |
| Long-term Debt | $194.04M | $152.59M | $151.46M | $151.91M | $157.24M | $142.53M | $132.92M | $135.70M | $136.75M | $138.99M |
| Total Liabilities | $459.19M | $433.81M | $413.83M | $414.01M | $420.68M | $408.42M | $358.47M | $353.17M | $345.29M | $345.00M |
| Stockholders' Equity | $468.98M | $476.43M | $503.57M | $500.75M | $497.26M | $488.93M | $482.76M | $484.57M | $479.77M | $476.19M |
| Retained Earnings | $216.88M | $227.22M | $237.27M | $236.36M | $234.16M | $227.26M | $225.87M | $226.48M | $223.57M | $223.77M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.81M | - | - | - | ($4.67M) | - | - | - | $4.42M | - |
| Investing Cash Flow | ($39.80M) | - | - | - | ($6.63M) | - | - | - | ($20.46M) | - |
| Financing Cash Flow | $28.86M | - | - | - | $9.12M | - | - | - | ($4.49M) | - |
| CapEx | $5.37M | - | - | - | $2.58M | - | - | - | $1.84M | - |
| Free Cash Flow | ($1.56M) | - | - | - | ($7.25M) | - | - | - | $2.58M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 16.5% | - | 18.7% | 21.1% | 16.9% | - | 17.3% | 20.3% | 18.2% | - |
| Operating margin | 6.3% | - | 12.8% | 12.6% | 10.7% | - | 8.8% | 11.7% | 9.2% | - |
| EBITDA margin | 9.3% | - | 15.6% | 15.5% | 13.9% | - | - | - | 11.8% | - |
| Net margin | 2.5% | - | 6.7% | 6.3% | 5.4% | - | 3.9% | 4.5% | 5.2% | - |
| Free cash flow margin | -0.8% | - | - | - | -3.9% | - | - | - | 1.7% | - |
| FCF / Net income | -0.31 | - | - | - | -0.73 | - | - | - | 0.32 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 9.2% | - | 8.8% | 8.9% | 8.8% | - | 8.6% | 8.5% | 9.0% | - |
| Effective tax rate | 32.3% | - | 28.5% | 28.5% | 28.1% | - | 27.9% | 29.1% | 28.1% | - |
| Return on assets | 0.4% | - | 1.1% | 1.1% | 0.8% | - | 0.6% | 0.7% | 0.8% | - |
| Return on equity | 1.1% | - | 2.6% | 2.5% | 2.0% | - | 1.4% | 1.5% | 1.7% | - |
| Return on invested capital | 1.3% | - | 2.8% | 2.7% | 2.2% | - | 1.7% | 2.2% | 1.7% | - |
| Liquidity | ||||||||||
| Current ratio | 1.19 | 1.01 | 1.20 | 1.18 | 1.17 | 1.18 | 1.78 | 1.88 | 2.16 | 2.28 |
| Quick ratio | 1.19 | 1.01 | 1.20 | 1.18 | 1.17 | 1.18 | 1.78 | 1.88 | 2.16 | 2.28 |
| Cash ratio | 0.24 | 0.26 | 0.27 | 0.29 | 0.32 | 0.36 | 1.01 | 1.05 | 1.29 | 1.50 |
| Leverage | ||||||||||
| Debt / Equity | 0.41 | 0.32 | 0.30 | 0.30 | 0.32 | 0.29 | 0.28 | 0.28 | 0.29 | 0.29 |
| Debt / Assets | 0.16 | 0.13 | 0.13 | 0.13 | 0.13 | 0.12 | 0.13 | 0.13 | 0.13 | 0.14 |
| Debt / EBITDA | 10.50 | - | 4.91 | 4.95 | 6.16 | - | - | - | 7.43 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.65 | 2.53 | 2.38 | 2.36 | 2.37 | 2.39 | 2.13 | 2.11 | 2.12 | 2.09 |
| Liabilities / Assets | 0.37 | 0.36 | 0.35 | 0.35 | 0.36 | 0.35 | 0.35 | 0.35 | 0.34 | 0.35 |
| Efficiency | ||||||||||
| Asset turnover | 0.16 | - | 0.16 | 0.17 | 0.16 | - | 0.16 | 0.16 | 0.15 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 127d | - | 125d | 122d | 129d | - | 124d | 119d | 130d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 177.0x | 134.8x | 90.5x | - | 217.0x | 196.6x | 245.4x | - |
| P / B | 2.4x | - | 2.6x | 2.4x | 2.2x | - | 2.6x | 2.9x | 3.5x | - |
| P / S | 5.7x | - | 6.6x | 6.0x | 6.0x | - | 7.6x | 8.3x | 10.9x | - |
| EV / EBITDA | 70.5x | - | 45.8x | 42.6x | 47.6x | - | - | - | 92.3x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 7.9% | - | 17.3% | 18.0% | 18.1% | - | 12.0% | 10.4% | 4.8% | - |
| Revenue CAGR (3y) | 10.1% | - | 12.2% | 11.9% | 11.7% | - | 10.1% | 9.6% | 11.4% | - |
| Revenue CAGR (5y) | 12.0% | - | 12.6% | 18.7% | 10.3% | - | 7.5% | 5.8% | 6.0% | - |
| Gross profit growth (YoY) | 5.4% | - | 26.6% | 22.9% | 9.4% | - | 4.3% | 5.1% | -8.0% | - |
| Operating income growth (YoY) | -36.5% | - | 71.8% | 27.2% | 37.2% | - | -7.1% | -2.2% | -15.8% | - |
| Net income growth (YoY) | -49.1% | - | 98.2% | 65.1% | 23.0% | - | -28.4% | -31.3% | 8.6% | - |
| EPS growth (YoY) | - | - | 23.1% | 23.4% | 73.9% | - | -23.5% | -26.6% | -20.7% | - |
| EPS CAGR (3y) | - | - | -12.6% | -12.6% | 6.1% | - | -16.1% | -22.0% | 32.0% | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 78.4% | - | - | - | - | - | - | - | -72.2% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | -25.3% | - |
| Book value growth (YoY) | -5.7% | -2.6% | 4.3% | 3.3% | 3.6% | 2.7% | -1.9% | -0.8% | 50.8% | 50.8% |
Peer comparison
Same SIC group: Services-Health Services
Comparing U S PHYSICAL THERAPY INC /NV against the 5 most active filers in the same SIC group.
Dividends
$1.82/share trailing 12 months · +2.2% YoY
| Ex-date | Per share |
|---|---|
| May 22, 2026 | $0.4600 |
| Mar 13, 2026 | $0.4600 |
| Nov 17, 2025 | $0.4500 |
| Aug 22, 2025 | $0.4500 |
| May 23, 2025 | $0.4500 |
| Mar 14, 2025 | $0.4500 |
| Nov 15, 2024 | $0.4400 |
| Aug 23, 2024 | $0.4400 |
| May 22, 2024 | $0.4400 |
| Mar 11, 2024 | $0.4400 |
| Nov 15, 2023 | $0.4300 |
| Aug 17, 2023 | $0.4300 |
| May 17, 2023 | $0.4300 |
| Mar 9, 2023 | $0.4300 |
| Nov 18, 2022 | $0.4100 |
| Aug 17, 2022 | $0.4100 |
| May 13, 2022 | $0.4100 |
| Mar 11, 2022 | $0.4100 |
| Nov 12, 2021 | $0.3800 |
| Aug 19, 2021 | $0.3800 |
| May 13, 2021 | $0.3500 |
| Mar 11, 2021 | $0.3500 |
| Mar 12, 2020 | $0.3200 |
| Nov 15, 2019 | $0.3000 |