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Segments

By product

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Net Patient Revenues$173.22M+5.5%
Other Revenues Including Management Contract Revenues And Industrial Injury Prevention Services Revenues$35.27M+6.4%
Hospital Affiliation Revenue$5.56M

By segment

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Physical Therapy Operations$182.36M+8.4%
Industrial Injury Prevention Services Revenues$31.7M+9.1%

Other financials

Income statement

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Gross profit$41.9M+0.8%
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:RevenueFromContractWithCustomerExcludingAssessedTax.

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
Net patient revenue$173,224$164,183$337,552$316,730
Hospital affiliation revenue5,564-5,564-
Other revenue35,27133,16169,22864,402
Net revenue214,059197,344412,344381,132
Operating cost
Salaries and related costs125,404113,788244,892225,037
Rent, supplies, contract labor and other38,96534,12777,41767,971
Depreciation and amortization5,6215,74111,27811,281

Item 1. Financial Statements.

FAQ

What is US Physical Therapy's total revenue?
US Physical Therapy (USPH) reported total revenue of $214.06M in Q2 2026.
How has US Physical Therapy's total revenue changed year-over-year?
US Physical Therapy's total revenue increased by 8.5% year-over-year, from $197.34M to $214.06M.
What is the long-term trend for US Physical Therapy's total revenue?
Over 4 years (2021 to 2025), US Physical Therapy's total revenue has grown at a 12.1% compound annual growth rate (CAGR), from $495.02M to $780.99M.
What does total revenue mean?
The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.

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