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MSA
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Other financials

Income statement

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Revenue$198.3M+7.9%
Gross profit$32.8M+5.4%
Operating income$12.5M-36.5%
Net income$5.0M-49.1%
EPS (diluted)-$0.12-115%

Balance sheet

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Cash & equivalents$28.4M-27.4%
Total debt$169.4M+12.6%
Total equity$469.0M-5.7%
Total assets$1.2B+5.3%

Cash flow

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Operating cash flow$3.8M+181%
CapEx$5.4M+108%
Free cash flow-$1.6M+78.4%

Valuation

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Market cap$1.01B-10.6%
Enterprise value$1.15B-7.2%
P/E29×-4.8×
P/S1.3×-0.3×

Profitability

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Gross margin19%+0.9pp
Operating margin10%+0.3pp
Net margin4.4%-0.4pp
FCF margin8.4%+0.4pp

Returns & leverage

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Return on equity7.2%+0.4pp
Debt / equity0.4×+0.1×
Current ratio1.2×0.0×

Where this comes from

Calculated from US Physical Therapy’s reported figures.

Plus components not separately reported this period.

The official record: US Physical Therapy’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is US Physical Therapy's EBIT?
US Physical Therapy (USPH) reported EBIT of $12.48M in Q1 2026.
How has US Physical Therapy's EBIT changed year-over-year?
US Physical Therapy's EBIT decreased by 36.5% year-over-year, from $19.64M to $12.48M.
What is the long-term trend for US Physical Therapy's EBIT?
Over 4 years (2021 to 2025), US Physical Therapy's EBIT has grown at a 5.2% compound annual growth rate (CAGR), from $70.65M to $86.68M.
What does EBIT mean?
Earnings before interest and taxes — the profit from the business before financing cost and tax. Uses reported operating income where a company reports it; otherwise pre-tax income plus interest expense. Lets companies be compared on earning power independent of capital structure.