How much cash does US Physical Therapy generate?

US Physical Therapy (USPH) generated $83.5M in operating cash flow over the trailing twelve months.

What is US Physical Therapy's free cash flow?

After $16.9M of capital expenditures, US Physical Therapy's free cash flow was $66.7M over the trailing twelve months, up 19.2% year over year.

Where does US Physical Therapy's cash flow data come from?

Every line is extracted from US Physical Therapy's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.

US Physical Therapy USPH Cash Flow Statement

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Net income	$52.69M-9.2%	$58.01M-5.4%	$61.32M+14.7%	$53.46M+12.7%	$47.45M+4.1%
Depreciation and amortization	$22.52M+0.6%	$22.39M-4.5%	$23.44M+6.6%	$22M+7.5%	$20.45M+9.5%
Stock-based compensation	$8.81M+6.5%	$8.27M+1.6%	$8.14M+4.4%	$7.8M+2.6%	$7.6M-2.9%
Deferred income taxes	——	——	——	——	——
Amortization of debt issuance costs	$421K-0.2%	$422K+0.5%	$420K-0.5%	$422K0.0%	$422K0.0%
Gain (loss) on sale of assets	——	——	——	-$1.22M-47.2%	-$831K+0.6%
Provision for credit losses	$7.8M+2.0%	$7.65M-1.5%	$7.76M+4.7%	$7.41M+3.9%	$7.13M+3.2%
Change in accounts receivable	——	——	——	——	——
Change in accounts payable	——	——	——	——	——
Change in other assets	——	——	——	——	——
Change in other liabilities	——	——	——	——	-$2.74M-95.1%
Net gains (losses) on investments	$1.45M-2.0%	$1.48M+4.1%	$1.42M+10.1%	$1.29M+13.5%	$1.14M+12.0%
Change in receivables	——	——	——	——	——
Net cash from operating activities	$83.54M+11.3%	$75.06M+7.9%	$69.54M-3.0%	$71.72M+8.9%	$65.85M-12.1%
Capital expenditures	$16.87M+19.9%	$14.07M+11.4%	$12.63M+16.5%	$10.84M+9.2%	$9.93M+8.1%
Acquisitions, net of cash acquired	$32.67M+108%	$15.67M-85.4%	$107.11M+5.7%	$101.28M-16.5%	$121.33M-8.8%
Other investing activities	——	——	-$1.21M-141%	-$502K-407%	-$99K+30.8%
Net cash from investing activities	-$69.89M-90.4%	-$36.71M+70.9%	-$126.12M-5.1%	-$120.03M+11.5%	-$135.61M+9.3%
Repurchases of common stock	——	$5.57M+33.3%	$4.17M+50.0%	$2.78M+100%	$1.39M—
Proceeds from issuance of debt	$249.5M+31.7%	$189.5M+29.4%	$146.5M+99.3%	$73.5M+332%	$17M—
Repayments of debt	$7.5M-20.0%	$9.38M+25.0%	$7.5M0.0%	$7.5M+14.3%	$6.56M+75.0%
Distributions to noncontrolling interests	$20.02M+3.9%	$19.27M+7.5%	$17.92M+4.9%	$17.09M+12.4%	$15.2M+3.4%
Other financing activities	——	——	——	——	——
Net cash from financing activities	-$24.4M+44.7%	-$44.14M-50.8%	-$29.27M+4.1%	-$30.51M-30.7%	-$23.34M+36.8%
Net increase (decrease) in cash	——	——	——	——	——
Interest paid	$10.06M+6.7%	$9.43M+6.2%	$8.88M+8.6%	$8.18M+8.1%	$7.57M+5.0%
Income taxes paid	$7.32M-49.0%	$14.35M—	——	——	——
Amortization expense related to capitalized debt issuance costs	$421K-0.2%	$422K+0.5%	$420K-0.5%	$422K0.0%	$422K0.0%
Change In Fair Value Of Contingent Consideration Liability	——	——	——	——	——
Gain Loss On Revaluation Of Put Right Liability	-$639K+54.6%	-$1.41M—	——	——	——
Gain Loss On Sale Of Partnership	$0+100%	-$123K0.0%	-$123K0.0%	-$123K0.0%	-$123K—
Equity in earnings (losses) of equity method investees	$1.45M-2.0%	$1.48M+4.1%	$1.42M+10.1%	$1.29M+13.5%	$1.14M+12.0%
Increase (Decrease) in Accounts Receivable and Other Operating Assets	——	——	——	——	——
Other long-term liabilities	——	——	——	——	-$2.74M-95.1%
Increase (Decrease) in Other Operating Assets	——	——	——	——	——
Accounts Receivable, Credit Loss Expense (Reversal)	$7.8M+2.0%	$7.65M-1.5%	$7.76M+4.7%	$7.41M+3.9%	$7.13M+3.2%
Distributions From Unconsolidated Affiliate	$1.3M-8.2%	$1.41M+6.0%	$1.33M+9.8%	$1.21M+18.5%	$1.02M-5.3%
Payment for (Proceeds from) Other Investing Activity	——	——	-$1.21M-141%	-$502K-407%	-$99K+30.8%
Payments To Acquire Redeemable Non Controlling Interest	$14.12M+42.4%	$9.92M+2.5%	$9.67M-5.6%	$10.25M+63.8%	$6.26M-22.3%
Proceeds From Sales Of Non Controlling Interest Permanent	$80K+167%	$30K—	——	——	——
Repayment Of Notes Receivable Related To Sales Of Redeemable Non Controlling Interest	——	——	——	——	——
Repayments Of Notes Payable	$2.17M+4.9%	$2.07M-35.9%	$3.22M-7.1%	$3.47M+14.3%	$3.03M+2.7%
Deferred Federal State And Local Tax Expense Benefit	——	$11.41M+15.3%	$9.9M+18.0%	$8.39M+22.0%	$6.88M+28.2%
Issuance Of Restricted Stock Related To Purchase Of Business	——	$0-100%	$375K-50.0%	$750K-33.3%	$1.13M-25.0%
Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1	——	$0-100%	$167.5K-50.0%	$335K-33.3%	$502.5K-25.0%
Payable Related To The Purchase Of Redeemable Non Controlling Interest Temporary Equity	——	$3.93M+33.3%	$2.95M+50.0%	$1.97M+100%	$983.5K—
Payment For Contingent Consideration Liability Financing Activities	——	——	——	——	——
Payments For Proceeds From Limited Partnership	——	——	——	——	-$700K—
Divestiture of renewable electric projects	$392K+111%	$186K—	——	——	——
Fair Market Value Of Initial Contingent Consideration Related To Purchase Of Businesses	$4.47M-22.0%	$5.73M-66.2%	$16.96M-5.4%	$17.93M-5.3%	$18.93M+7.1%
Income Taxes Paid, Net	$7.32M-49.0%	$14.35M—	——	——	——
Notes Payable Related To Purchase Of Redeemable Non Controlling Interest Temporary Equity	$98K-43.4%	$173K+23.6%	$140K-12.5%	$160K0.0%	$160K+125%
Notes Receivable Related To Sale Of Non Controlling Interest Temporary Equity	——	——	——	——	——
Notes Receivable Related To Sale Of Non Controlling Interest Permanent Equity	$600K+722%	$73K—	——	——	——
Offset To Notes Receivable Associated With Purchase Of Redeemable Non Controlling Interest	$250K-30.2%	$358K+1.4%	$353K-61.0%	$905K+8.9%	$831K+14.5%
Payable Related To Purchase Of Non Controlling Interest Permanent Equity	——	——	——	——	$0—
Purchase Of Business Seller Financing Portion	$800K+167%	$300K-78.6%	$1.41M+27.1%	$1.11M-29.2%	$1.56M-24.3%
Purchase Of Redeemable Non Controlling Interest Temporary Equity Recorded In Accrued Liabilities	——	——	——	——	——
Free cash flow	$66.68M+9.3%	$60.99M+7.2%	$56.9M-6.5%	$60.87M+8.9%	$55.92M-15.0%
Free cash flow	$66.68M+9.3%	$60.99M+7.2%	$56.9M-6.5%	$60.87M+8.9%	$55.92M-15.0%

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Questions, answered.

How much cash does US Physical Therapy generate?: US Physical Therapy (USPH) generated $83.5M in operating cash flow over the trailing twelve months.
What is US Physical Therapy's free cash flow?: After $16.9M of capital expenditures, US Physical Therapy's free cash flow was $66.7M over the trailing twelve months, up 19.2% year over year.
Where does US Physical Therapy's cash flow data come from?: Every line is extracted from US Physical Therapy's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.