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US Physical Therapy USPH Physical Therapy Operations — Gross Profit

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Industrial Injury Prevention Services Revenues
$6.26M+22.5%

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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
FCF margin8.4%+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

Reported directly by US Physical Therapy in its filing.

Tagged under the XBRL concept us-gaap:GrossProfit.

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 physical therapy operations — gross profit?
US Physical Therapy (USPH) reported physical therapy operations — gross profit of $26.5M in Q1 2026.
How has US Physical Therapy's physical therapy operations — gross profit changed year-over-year?
US Physical Therapy's physical therapy operations — gross profit increased by 2.1% year-over-year, from $25.96M to $26.5M.
What is the long-term trend for US Physical Therapy's physical therapy operations — gross profit?
Over 4 years (2021 to 2025), US Physical Therapy's physical therapy operations — gross profit has grown at a 4.6% compound annual growth rate (CAGR), from $106.49M to $127.56M.
What does physical therapy operations — gross profit mean?
Calculated as total segment revenues minus the direct costs of providing physical therapy services, such as labor and supplies. This metric measures the core profitability of the clinical operations before corporate overhead and administrative expenses. It is the primary indicator of the segment's ability to generate value from its core service offerings.