U.S. Physical Therapy Financial Statements
NYSE: USPHHealth CareMedical/Nursing ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
U.S. Physical Therapy revenue and earnings
In fiscal 2025, U.S. Physical Therapy generated $781.0 million in revenue, up 16.3% from fiscal 2024, its 5th consecutive year of revenue growth. Net income was $39.6 million (+26.0% year over year), for a net margin of 5.1% versus a median of 5.8% in the prior 5 years. Gross margin was 19.2% (up from 18.5%) and operating margin 11.1%.
Diluted earnings per share came in at $1.42, down from $1.84. Over the last 5 fiscal years, USPH's revenue has grown at a 13.0% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
U.S. Physical Therapy income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 780.99M | 671.35M | 604.80M | 553.14M | 495.02M | 422.97M | 481.97M | 453.91M | 414.05M | 356.55M |
| Revenue growth (YoY) | +16.33% | +11.00% | +9.34% | +11.74% | +17.04% | -12.24% | +6.18% | +9.63% | +16.13% | +7.62% |
| Gross Profit | 149.69M | 123.92M | 121.51M | 112.02M | 117.18M | 94.45M | 112.47M | 101.66M | 90.62M | 82.01M |
| Operating Expenses | 63.02M | 60.93M | 71.00M | 55.22M | 46.53M | 42.04M | 45.05M | 41.35M | 35.89M | 32.48M |
| Selling, General & Admin | 69.26M | 58.29M | 51.95M | 46.11M | 46.53M | 42.04M | 45.05M | 41.35M | 35.89M | 32.48M |
| Operating Income | 86.68M | 62.99M | 50.51M | 56.80M | 70.65M | 52.41M | 67.42M | 60.31M | 54.73M | 49.53M |
| Interest Expense | — | — | — | — | — | — | 2.08M | 2.04M | 21.06M | 11.48M |
| Other Income (Expense) | -8.86M | -2.79M | -1.14M | -1.23M | 2.55M | 13.10M | 3.48M | -103.00K | — | — |
| Pretax Income | 77.81M | 60.21M | 49.38M | 55.57M | 73.20M | 65.51M | 70.91M | 60.21M | 33.76M | 38.15M |
| Income Tax | 19.81M | 14.61M | 12.16M | 12.16M | 15.27M | 13.02M | 13.65M | 11.37M | 6.03M | 11.88M |
| Net Income | 39.58M | 31.42M | 28.24M | 32.16M | 40.83M | 35.19M | 40.04M | 34.87M | 22.26M | 20.55M |
| Net Income growth (YoY) | +25.96% | +11.28% | -12.19% | -21.24% | +16.02% | -12.10% | +14.81% | +56.69% | +8.30% | -0.31% |
| EPS (Basic) | 1.42 | 1.84 | 1.28 | 2.25 | 2.41 | 2.48 | 2.45 | 1.31 | 1.76 | 1.64 |
| EPS (Diluted) | 1.42 | 1.84 | 1.28 | 2.25 | 2.41 | 2.48 | 2.45 | 1.31 | 1.76 | 1.64 |
| Shares Outstanding (Basic) | 15.18M | 15.06M | 14.19M | 12.98M | 12.90M | 12.84M | 12.76M | 12.67M | 12.57M | 12.50M |
| Shares Outstanding (Diluted) | 15.18M | 15.06M | 14.19M | 12.98M | 12.90M | 12.84M | 12.76M | 12.67M | 12.57M | 12.50M |
| EBITDA | 109.07M | 81.67M | 66.21M | 71.54M | 82.24M | 62.95M | 77.52M | 70.07M | 64.44M | 58.31M |
| Gross Margin | 19.17% | 18.46% | 20.09% | 20.25% | 23.67% | 22.33% | 23.34% | 22.40% | 21.89% | 23.00% |
| Operating Margin | 11.10% | 9.38% | 8.35% | 10.27% | 14.27% | 12.39% | 13.99% | 13.29% | 13.22% | 13.89% |
| Net Margin | 5.07% | 4.68% | 4.67% | 5.81% | 8.25% | 8.32% | 8.31% | 7.68% | 5.38% | 5.76% |
This table shows 10 annual periods of U.S. Physical Therapy's income statement, from FY 2025 back to FY 2016, across 18 line items including revenue, gross profit, operating expenses. Values in USD; B = billions, M = millions. Fiscal periods follow USPH's reporting calendar. What is a income statement?