USPH
$87.02+3.71%
U.S. Physical Therapy Inc.Stock · HealthcareRussell 2000 · 0.03% of IWMUS Stock Market · 0.001% of VTIRussell 3000 · 0.001% of IWV
USPH financial statements
The full income statement, balance sheet, and cash-flow statement for U.S. Physical Therapy Inc. (USPH), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 15.1M2024-09 15.1M2024-12 15.2M2025-03 15.2M2025-06 15.2M2025-09 15.2M2025-12 15.1M2026-03 15.2M2026-06 14.9M-1.0% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 781M+16.3% | 671M+11.0% | 605M+9.3% | 553M+11.7% | 495M+17.0% | |
| Gross profit | 150M+20.8% | 124M+2.0% | 122M+8.5% | 112M-4.4% | 117M+24.1% | |
| Selling, general & administrative | 69.3M+18.8% | 58.3M+12.2% | 52.0M+12.7% | 46.1M-0.9% | 46.5M+10.7% | |
| Restructuring | — | — | — | — | 30.0K-98.6% | |
| Amortization of intangibles | 11.3M+18.1% | 9.55M+31.3% | 7.27M+11.5% | 6.52M+76.4% | 3.70M+8.3% | |
| Provision for credit losses | 7.65M+10.6% | 6.91M+12.0% | 6.17M+11.2% | 5.55M+4.6% | 5.30M+14.8% | |
| Operating income | 86.7M+37.6% | 63.0M+24.7% | 50.5M-11.1% | 56.8M-19.6% | 70.6M+34.8% | |
| Interest & investment income | 105K-97.3% | 3.94M+4.4% | 3.77M | 0.00 | 0.00 | |
| Other non-operating income | 458K+28.3% | 357K-8.5% | 390K-54.6% | 859K+331.7% | 199K-98.5% | |
| Equity-method income | 1.48M+45.7% | 1.01M+6.2% | 955K-18.7% | 1.18M+949.1% | 112K | |
| Pre-tax income | 77.8M+29.2% | 60.2M+21.9% | 49.4M-11.1% | 55.6M-24.1% | 73.2M+11.7% | |
| Income tax | 19.8M+35.6% | 14.6M+20.2% | 12.2M-0.1% | 12.2M-20.4% | 15.3M+17.3% | |
| 39.6M+26.0% | 31.4M+11.3% | 28.2M-12.2% | 32.2M-21.2% | 40.8M+16.0% | ||
| Net income to non-controlling interest | 18.4M+30.0% | 14.2M+57.8% | 8.98M-20.2% | 11.2M-34.2% | 17.1M-1.2% | |
| $1.42-22.8% | $1.84+43.8% | $1.28-43.1% | $2.25-6.6% | $2.41-2.8% | ||
| EPS (basic) | $1.42-22.8% | $1.84+43.8% | $1.28-43.1% | $2.25-6.6% | $2.41-2.8% | |
| Weighted-avg shares (basic) | 15.2M+0.7% | 15.1M+6.2% | 14.2M+9.3% | 13.0M+0.7% | 12.9M+0.5% | |
| Weighted-avg shares (diluted) | 15.2M+0.7% | 15.1M+6.2% | 14.2M+9.3% | 13.0M+0.7% | 12.9M+0.5% | |
| Dividends per share | $1.80+2.3% | $1.76+2.3% | $1.72+4.9% | $1.64+12.3% | $1.46+14.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 140M+1.7% | 138M-41.0% | 233M+109.7% | 111M+16.9% | 95.2M+8.6% | ||
| Cash & equivalents | 35.6M-14.0% | 41.4M-72.9% | 153M+383.7% | 31.6M+10.6% | 28.6M-13.2% | |
| Accounts receivable | 64.2M+8.8% | 59.0M+14.0% | 51.8M-0.2% | 51.9M+12.2% | 46.3M+10.4% | |
| Other current assets | 16.1M+52.4% | 10.6M-2.5% | 10.8M-2.1% | 11.1M+164.6% | 4.18M+10.9% | |
| 1.20B+3.1% | 1.17B+17.1% | 997M+16.2% | 858M+14.5% | 749M+26.1% | ||
| Property, plant & equipment | 35.7M+10.9% | 32.1M+23.1% | 26.1M+5.5% | 24.7M+7.7% | 23.0M+6.1% | |
| Operating lease right-of-use | 144M+7.7% | 134M+29.5% | 103M+0.4% | 103M+6.8% | 96.4M+18.2% | |
| Goodwill | 692M+3.8% | 667M+30.9% | 510M+3.1% | 494M+13.7% | 435M+25.8% | |
| Intangible assets | 173M-3.6% | 179M+63.5% | 110M+0.9% | 109M+25.9% | 86.4M+53.5% | |
| Other non-current assets | 6.64M+28.9% | 5.16M+82.7% | 2.82M-32.0% | 4.15M+162.9% | 1.58M+2.5% | |
| 139M+19.6% | 116M+13.8% | 102M+19.5% | 85.5M+2.4% | 83.5M-10.7% | ||
| Accounts payable | 6.06M+2.1% | 5.94M+52.3% | 3.90M+18.1% | 3.30M+1.0% | 3.27M+144.8% | |
| Accrued liabilities | 49.4M-17.0% | 59.5M+7.5% | 55.3M+47.9% | 37.4M-18.1% | 45.7M-23.5% | |
| Deferred revenue | 737K | — | — | — | — | |
| Short-term & current debt | 9.87M-10.3% | 11.0M+43.0% | 7.69M-2.2% | 7.86M+847.3% | 830K-83.1% | |
| Current lease liability | 42.1M+5.8% | 39.8M+13.0% | 35.3M+4.6% | 33.7M+10.6% | 30.5M+10.8% | |
| Other current liabilities | 31.6M | — | — | — | — | |
| 434M+6.2% | 408M+18.4% | 345M-7.7% | 374M+25.8% | 297M+61.1% | ||
| Long-term debt | 153M+7.1% | 143M+2.5% | 139M-21.0% | 176M+49.5% | 118M+608.5% | |
| Non-current lease liability | 111M+8.5% | 102M+32.9% | 76.7M-1.6% | 77.9M+5.1% | 74.2M+19.7% | |
| Operating lease liability (total) | 153M+7.8% | 142M+26.6% | 112M+0.2% | 112M+6.7% | 105M+16.9% | |
| Deferred tax liabilities | 28.4M-3.6% | 29.5M+18.7% | 24.8M+16.5% | 21.3M+48.1% | 14.4M+84.9% | |
| Other non-current liabilities | 3.21M-82.4% | 18.3M+675.7% | 2.36M-81.9% | 13.0M+77.4% | 7.34M+61.8% | |
| 476M-2.6% | 489M+2.7% | 476M+50.8% | 316M+6.8% | 296M+7.0% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 174K+1.2% | 172K+0.0% | 172K+13.2% | 152K+0.7% | 151K+0.0% | |
| Additional paid-in capital | 286M-1.7% | 290M+3.3% | 281M+154.8% | 110M+7.4% | 103M+7.4% | |
| Retained earnings | 227M-0.0% | 227M+1.6% | 224M-3.9% | 233M+3.8% | 224M+5.8% | |
| Treasury stock | 37.2M+17.6% | 31.6M+0.0% | 31.6M+0.0% | 31.6M+0.0% | 31.6M+0.0% | |
| Accumulated other comprehensive income | 714K-74.5% | 2.80M+0.6% | 2.78M-30.5% | 4.00M | 0.00 | |
| Non-controlling interest | 456K-58.2% | 1.09M-10.2% | 1.22M-3.5% | 1.26M-20.0% | 1.57M+7.1% | |
| Total equity incl. non-controlling | 477M-2.7% | 490M+2.6% | 477M+50.6% | 317M+6.7% | 297M+7.0% | |
| Total liabilities & equity | 1.20B+3.1% | 1.17B+17.1% | 997M+16.2% | 858M+14.5% | 749M+26.1% | |
| Common shares issued | 17.4M+0.6% | 17.3M+0.6% | 17.2M+13.1% | 15.2M+0.6% | 15.1M+0.4% | |
| Shares outstanding (cover) | 15.1M-0.5% | 15.2M+0.8% | 15.1M+15.7% | 13.0M+0.6% | 13.0M+0.4% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 75.1M+0.2% | 74.9M-8.6% | 82.0M+40.0% | 58.5M-23.4% | 76.4M-23.6% | ||
| Depreciation & amortization | 22.4M+19.9% | 18.7M+19.0% | 15.7M+6.5% | 14.7M+27.2% | 11.6M+10.0% | |
| Intangible amortization | 11.3M+18.1% | 9.55M+31.3% | 7.27M+11.5% | 6.52M+76.4% | 3.70M+8.3% | |
| Share-based compensation | 8.27M+5.7% | 7.82M+8.1% | 7.24M-0.4% | 7.26M-7.7% | 7.87M-0.6% | |
| Deferred income taxes | 10.6M+117.5% | 4.87M+4.9% | 4.65M-62.6% | 12.4M+118.3% | 5.69M+2304.7% | |
| Change in receivables | 12.0M+123.6% | 5.35M-5.3% | 5.64M-45.1% | 10.3M+9.2% | 9.42M+1147.5% | |
| Other operating activities | — | 0.00 | 0.00+100.0% | -83.0K+38.1% | -134K-147.7% | |
| -36.7M+75.4% | -149M-232.0% | -45.0M+44.6% | -81.3M+34.5% | -124M-142.4% | ||
| Capital expenditure | 14.1M+53.2% | 9.19M-1.2% | 9.29M+12.7% | 8.25M+0.6% | 8.20M+7.4% | |
| Free cash flow | 61.0M-7.2% | 65.8M-9.5% | 72.7M+44.5% | 50.3M-26.3% | 68.2M-26.1% | |
| Acquisitions | 15.7M-88.2% | 133M+400.7% | 26.6M-55.5% | 59.8M-31.1% | 86.8M+263.2% | |
| Other investing activities | -364K-154.5% | -143K-175.7% | 189K | 0.00 | 0.00 | |
| -44.1M-19.4% | -37.0M-143.9% | 84.3M+227.1% | 25.8M-40.6% | 43.4M+210.0% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00-100.0% | 150M | 0.00 | |
| Long-term debt repaid | 9.38M+150.0% | 3.75M+0.0% | 3.75M+100.0% | 1.88M | 0.00 | |
| Common stock issued | 0.00 | 0.00-100.0% | 164M | 0.00 | 0.00 | |
| Common stock repurchased | 5.57M | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 27.4M+3.1% | 26.5M+10.0% | 24.1M+13.2% | 21.3M+13.6% | 18.8M+356.6% | |
| Other financing activities | — | 0.00 | 0.00-100.0% | 12.0K-57.1% | 28.0K+1300.0% | |
| Net change in cash | -5.79M+94.8% | -111M-191.9% | 121M+3905.0% | 3.03M+169.6% | -4.35M-146.4% | |
| Interest paid | 9.43M+30.8% | 7.21M-16.7% | 8.65M+52.2% | 5.69M+320.6% | 1.35M+12.5% | |
| Income taxes paid | 14.3M+197.5% | 4.82M-2.1% | 4.93M-35.3% | 7.62M-37.7% | 12.2M+59.1% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 1.18B-12.4% | 1.35B-3.5% | 1.40B+32.5% | 1.05B-14.9% | 1.24B-20.2% | |
| P/E | 29.8×-30.4% | 42.9×-7.2% | 46.2×+74.5% | 26.5×-12.6% | 30.3×-31.2% | |
| P/S | 1.5×-24.7% | 2.0×-15.0% | 2.4×+21.4% | 1.9×-22.2% | 2.5×-31.8% | |
| P/B | 2.5×-10.1% | 2.8×-2.9% | 2.8×-14.6% | 3.3×-20.6% | 4.2×-25.5% | |
| P/FCF | 19.4×-5.5% | 20.5×-5.4% | 21.7×-2.0% | 22.1×+21.9% | 18.1×+8.0% | |
| Earnings yield | 3.4%+43.7% | 2.3%+7.8% | 2.2%-42.7% | 3.8%+14.4% | 3.3%+45.4% | |
| FCF yield | 5.2%+5.8% | 4.9%+5.7% | 4.6%+2.0% | 4.5%-17.9% | 5.5%-7.4% | |
| Dividend yield | 2.3%+16.2% | 2.0%+7.4% | 1.8%-8.8% | 2.0%+32.5% | 1.5%+43.5% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: USPH’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all USPH filings on SEC EDGAR → Not investment advice.