Skip to content

US Physical Therapy USPH Ratios & Valuation

Q1 '26Q4 '25Q3 '25Q2 '25Q1 '25
Profitability
Gross margin19%-0.1pp19.2%+0.4pp18.7%+0.3pp18.4%+0.3pp18.1%-0.4pp
Operating margin10%-1.1pp11.1%-0.7pp11.8%+1.2pp10.6%+0.9pp9.7%+0.3pp
Net margin4.4%-0.7pp5.1%-0.8pp5.9%+0.7pp5.2%+0.5pp4.8%+0.1pp
Returns
Return on equity7.2%-1.0pp8.2%-0.9pp9.1%+1.3pp7.7%+0.9pp6.8%+0.3pp
Return on invested capital11.3%-1.1pp12.4%-1.1pp13.4%+1.7pp11.7%+1.0pp10.7%+0.4pp
Efficiency
Asset turnover0.7×0.0×0.7×0.0×0.7×0.0×0.7×0.0×0.6×0.0×
Liquidity
Current ratio1.2×+0.2×-0.2×1.2×0.0×1.2×0.0×1.2×0.0×
Leverage
Debt-to-equity0.4×0.0×0.3×0.0×0.3×0.0×0.3×0.0×0.3×0.0×
Net debt / EBITDA1.4×+0.2×1.2×0.0×1.1×-0.1×1.2×-0.1×1.3×-0.1×
Per Share
Book value per share$30.92-1.5%$31.40-5.2%$33.12+0.5%$32.95+0.3%$32.86+1.2%
Valuation
Market capitalization$1.01B-10.7%$1.19B-8.1%$1.29B+7.6%$1.2B+9.2%$1.1B-17.9%
Price / earnings29×-4.9×30×+1.1×28.9×-2.6×31.5×-1.6×33×-9.6×
Price / sales1.3×-0.3×1.5×-0.2×1.7×+0.1×1.6×+0.1×1.6×-0.4×
Price / book2.1×-0.1×2.5×-0.1×2.6×+0.2×2.4×+0.2×2.2×-0.5×
EV / EBITDA11.3×-2.8×12.1×-0.5×12.5×-0.8×13.3×-0.4×13.7×-4.0×

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Questions, answered.

What are US Physical Therapy's profit margins?
US Physical Therapy (USPH) runs a 19.0% gross margin and a 10.0% operating margin, with a 4.4% net margin.
Where do US Physical Therapy's ratios come from?
Every ratio is computed from US Physical Therapy's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.