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Segments

By segment

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Physical Therapy Operations$35.47M-0.7%
Industrial Injury Prevention Services Revenues$6.47M+9.7%

Other financials

Income statement

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Revenue$214.1M+8.5%
Operating income$21.9M-12.0%
Net income$9.9M-20.1%
EPS (diluted)$0.25-56.9%

Balance sheet

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Cash & equivalents$24.9M-27.0%
Total debt$171.2M+11.3%
Total equity$448.7M-10.4%
Total assets$1.2B+5.9%

Cash flow

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Operating cash flow$34.4M-1.4%
CapEx$5.4M+65.0%
Free cash flow$29.0M-8.2%

Valuation

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Market cap$1.16B-7.6%
Enterprise value$1.31B-5.1%
P/E36.1×+3.1×
P/S1.4×-0.3×

Profitability

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Gross margin18.7%+0.3pp
Operating margin9.4%-1.1pp
Net margin4%-1.3pp
FCF margin7.9%-0.5pp

Returns & leverage

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Return on equity6.8%-1.0pp
Debt / equity0.4×+0.1×
Current ratio1.3×+0.1×

Where this comes from

Reported directly by US Physical Therapy in its filing.

Tagged under the XBRL concept us-gaap:GrossProfit.

The source filing: US Physical Therapy’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:08 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001140361-26-031825
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Provision for credit losses2,1201,9954,1243,843
Clinic closure costs - lease and other669(62)311
Total operating cost172,116155,720337,649308,443
Gross profit41,94341,62474,69572,689
Corporate office costs19,00517,47637,27933,721
Loss (gain) on change in fair value of contingent earn-out consideration992(790)2,989(5,612)
Operating income21,94624,93834,42744,580
Other (expense) income

Item 1. Financial Statements.

FAQ

What is US Physical Therapy's gross profit?
US Physical Therapy (USPH) reported gross profit of $41.94M in Q2 2026.
How has US Physical Therapy's gross profit changed year-over-year?
US Physical Therapy's gross profit increased by 0.8% year-over-year, from $41.62M to $41.94M.
What is the long-term trend for US Physical Therapy's gross profit?
Over 4 years (2021 to 2025), US Physical Therapy's gross profit has grown at a 6.3% compound annual growth rate (CAGR), from $117.18M to $149.69M.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

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