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US Physical Therapy USPH Free cash flow margin

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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-10.7%
Enterprise value$1.15B-7.4%
P/E29×-4.9×
P/S1.3×-0.3×

Profitability

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

Based on trailing twelve months.

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 free cash flow margin?
US Physical Therapy (USPH) reported free cash flow margin of 8.4% in Q1 2026.
How has US Physical Therapy's free cash flow margin changed year-over-year?
US Physical Therapy's free cash flow margin increased by 4.8% year-over-year, from 8% to 8.4%.
What is the long-term trend for US Physical Therapy's free cash flow margin?
Over 5 years (2020 to 2025), US Physical Therapy's free cash flow margin has grown at a -18.6% compound annual growth rate (CAGR), from 21.8% to 7.8%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.