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.

US Physical Therapy USPH Ratios & Valuation

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
Profitability
Gross margin	19%+0.9pp	19.2%+0.7pp	18.7%-0.2pp	18.4%-0.8pp	18.1%-1.4pp
Operating margin	10%+0.3pp	11.1%+1.7pp	11.8%+5.1pp	10.6%+3.2pp	9.7%+1.4pp
Net margin	4.4%-0.4pp	5.1%+0.4pp	5.9%+2.4pp	5.2%+1.2pp	4.8%0.0pp
EBITDA margin	12.8%+0.2pp	14%+1.8pp	14.9%+5.5pp	13.6%+3.5pp	12.6%+1.7pp
Free cash flow margin	8.4%+0.4pp	7.8%-2.0pp	7.5%-3.9pp	8.3%-2.4pp	8%-2.8pp
Returns
Return on equity	7.2%+0.4pp	8.2%+1.7pp	9.1%+4.4pp	7.7%+2.5pp	6.8%-0.4pp
Return on assets	2.9%-0.2pp	3.3%+0.4pp	4%+1.8pp	3.5%+0.9pp	3%0.0pp
Return on invested capital	11.3%+0.5pp	12.4%+2.0pp	13.4%+5.4pp	11.7%+3.0pp	10.7%+0.5pp
Efficiency
Asset turnover	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.6×0.0×
Liquidity
Current ratio	1.2×0.0×	1×-0.2×	1.2×-0.6×	1.2×-0.7×	1.2×-1.0×
Quick ratio	1.2×0.0×	1×-0.2×	1.2×-0.6×	1.2×-0.7×	1.2×-1.0×
Cash ratio	0.2×-0.1×	0.3×-0.1×	0.3×-0.7×	0.3×-0.8×	0.3×-1.0×
Leverage
Debt-to-equity	0.4×+0.1×	0.3×0.0×	0.3×+0.1×	0.3×0.0×	0.3×+0.1×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	1.4×+0.1×	1.2×-0.2×	1.1×+1.0×	1.2×+1.0×	1.3×+1.4×
Per Share
Book value per share	$30.92-5.9%	$31.40-3.3%	$33.12+3.4%	$32.95+2.5%	$32.86+2.9%
Valuation
Market capitalization	$1.01B-10.6%	$1.19B-11.3%	$1.29B+1.3%	$1.2B-13.5%	$1.1B-35.1%
Enterprise value	$1.15B-7.2%	$1.31B-9.4%	$1.42B+10.7%	$1.32B-5.7%	$1.21B-28.1%
Price / earnings	29×-4.8×	30×-12.6×	28.9×-26.9×	31.5×-23.0×	33×-25.7×
Price / sales	1.3×-0.3×	1.5×-0.5×	1.7×-0.3×	1.6×-0.6×	1.6×-1.2×
Price / book	2.2×-0.1×	2.5×-0.2×	2.6×-0.1×	2.4×-0.5×	2.2×-1.3×
EV / EBITDA	11.3×-2.8×	12.1×-5.7×	12.5×-8.6×	13.3×-8.9×	13.7×-11.4×
EV / sales	1.4×-0.3×	1.7×-0.5×	1.9×-0.1×	1.8×-0.4×	1.7×-1.0×
Free cash flow yield	6.6%+1.7pp	5.1%+0.2pp	4.4%-1.4pp	5.1%+0.2pp	5.1%+1.2pp
Earnings yield	3.4%+0.5pp	3.3%+1.0pp	3.5%+1.7pp	3.2%+1.3pp	3%+1.3pp
PEG ratio	6.7×+4.5×	1.2×—	0.3×—	——	——

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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.