InsiderClue
Stocks · Health care · Services-Health Services

U S PHYSICAL THERAPY INC /NV

USPH Clue Score53
United States Fiscal year ends December CIK 0000885978
$84.67 +1.38% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $84.67 −19.61% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue356.5Operating income49.5Net income20.6Fiscal year 2017Revenue414.1 +16.1%Operating income54.7Net income22.3 +8.3%Fiscal year 2018Revenue453.9 +9.6%Operating income60.3Net income34.9 +56.7%Fiscal year 2019Revenue482.0 +6.2%Operating income67.4Net income40.0 +14.8%EPS, diluted2.45Fiscal year 2020Revenue423.0 −12.2%Operating income52.4Net income35.2 −12.1%EPS, diluted2.48 +1.2%Fiscal year 2021Revenue495.0 +17.0%Operating income70.6Net income40.8 +16.0%EPS, diluted2.41 −2.8%Fiscal year 2022Revenue553.1 +11.7%Operating income56.8Net income32.2 −21.2%EPS, diluted2.25 −6.6%Fiscal year 2023Revenue604.8 +9.3%Operating income50.5Net income28.2 −12.2%EPS, diluted1.28 −43.1%Fiscal year 2024Revenue671.3 +11.0%Operating income63.0Net income31.4 +11.3%EPS, diluted1.84 +43.8%Fiscal year 2025Revenue781.0 +16.3%Operating income86.7Net income39.6 +26.0%EPS, diluted1.42 −22.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 356.5 414.1 453.9 482.0 423.0 495.0 553.1 604.8 671.3 781.0
Growth +16.1% +9.6% +6.2% −12.2% +17.0% +11.7% +9.3% +11.0% +16.3%
Operating income 49.5 54.7 60.3 67.4 52.4 70.6 56.8 50.5 63.0 86.7
Net income 20.6 22.3 34.9 40.0 35.2 40.8 32.2 28.2 31.4 39.6
Growth +8.3% +56.7% +14.8% −12.1% +16.0% −21.2% −12.2% +11.3% +26.0%
EPS, diluted n/a n/a n/a 2.45 2.48 2.41 2.25 1.28 1.84 1.42
Growth +1.2% −2.8% −6.6% −43.1% +43.8% −22.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin23.0%Operating margin13.9%Net margin5.8%Free cash flow margin12.0%Fiscal year 2017Gross margin21.9%Operating margin13.2%Net margin5.4%Free cash flow margin11.9%Fiscal year 2018Gross margin22.4%Operating margin13.3%Net margin7.7%Free cash flow margin14.5%Fiscal year 2019Gross margin23.3%Operating margin14.0%Net margin8.3%Free cash flow margin10.8%Fiscal year 2020Gross margin22.3%Operating margin12.4%Net margin8.3%Free cash flow margin21.8%Fiscal year 2021Gross margin23.7%Operating margin14.3%Net margin8.2%Free cash flow margin13.8%Fiscal year 2022Gross margin20.3%Operating margin10.3%Net margin5.8%Free cash flow margin9.1%Fiscal year 2023Gross margin20.1%Operating margin8.4%Net margin4.7%Free cash flow margin12.0%Fiscal year 2024Gross margin18.5%Operating margin9.4%Net margin4.7%Free cash flow margin9.8%Fiscal year 2025Gross margin19.2%Operating margin11.1%Net margin5.1%Free cash flow margin7.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 23.0% 21.9% 22.4% 23.3% 22.3% 23.7% 20.3% 20.1% 18.5% 19.2%
Operating margin 13.9% 13.2% 13.3% 14.0% 12.4% 14.3% 10.3% 8.4% 9.4% 11.1%
Net margin 5.8% 5.4% 7.7% 8.3% 8.3% 8.2% 5.8% 4.7% 4.7% 5.1%
Free cash flow margin 12.0% 11.9% 14.5% 10.8% 21.8% 13.8% 9.1% 12.0% 9.8% 7.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow51.1Capital expenditure−8.3Free cash flow42.8Dividends paid−8.5Fiscal year 2017Operating cash flow56.5Capital expenditure−7.1Free cash flow49.4 +15.5%Dividends paid−10.1Fiscal year 2018Operating cash flow73.0Capital expenditure−7.2Free cash flow65.8 +33.1%Dividends paid−11.7Fiscal year 2019Operating cash flow62.4Capital expenditure−10.2Free cash flow52.3 −20.6%Dividends paid−14.6Fiscal year 2020Operating cash flow100.0Capital expenditure−7.6Free cash flow92.4 +76.7%Dividends paid−4.1Fiscal year 2021Operating cash flow76.4Capital expenditure−8.2Free cash flow68.2 −26.1%Dividends paid−18.8Fiscal year 2022Operating cash flow58.5Capital expenditure−8.2Free cash flow50.3 −26.3%Dividends paid−21.3Fiscal year 2023Operating cash flow82.0Capital expenditure−9.3Free cash flow72.7 +44.5%Buybacks0.0Dividends paid−24.1Fiscal year 2024Operating cash flow74.9Capital expenditure−9.2Free cash flow65.8 −9.5%Buybacks0.0Dividends paid−26.5Fiscal year 2025Operating cash flow75.1Capital expenditure−14.1Free cash flow61.0 −7.2%Buybacks−5.6Dividends paid−27.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 51.1 56.5 73.0 62.4 100.0 76.4 58.5 82.0 74.9 75.1
Capital expenditure −8.3 −7.1 −7.2 −10.2 −7.6 −8.2 −8.2 −9.3 −9.2 −14.1
Free cash flow 42.8 49.4 65.8 52.3 92.4 68.2 50.3 72.7 65.8 61.0
Growth +15.5% +33.1% −20.6% +76.7% −26.1% −26.3% +44.5% −9.5% −7.2%
Buybacks n/a n/a n/a n/a n/a n/a n/a 0.0 0.0 −5.6
Dividends paid −8.5 −10.1 −11.7 −14.6 −4.1 −18.8 −21.3 −24.1 −26.5 −27.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash20.0Total debt51.8Net cash (debt)−31.8Shareholders’ equity187.5Debt to equity0.28Fiscal year 2017Cash21.9Total debt60.8Net cash (debt)−38.8Shareholders’ equity204.9Debt to equity0.30Fiscal year 2018Cash23.4Total debt39.8Net cash (debt)−16.5Shareholders’ equity215.9Debt to equity0.18Fiscal year 2019Cash23.5Total debt51.1Net cash (debt)−27.5Shareholders’ equity240.3Debt to equity0.21Fiscal year 2020Cash32.9Total debt21.5Net cash (debt)11.4Shareholders’ equity276.2Debt to equity0.08Fiscal year 2021Cash28.6Total debt118.4Net cash (debt)−89.9Shareholders’ equity295.6Debt to equity0.40Fiscal year 2022Cash31.6Total debt183.7Net cash (debt)−152.1Shareholders’ equity315.8Debt to equity0.58Fiscal year 2023Cash152.8Total debt146.7Net cash (debt)6.1Shareholders’ equity476.2Debt to equity0.31Fiscal year 2024Cash41.4Total debt153.5Net cash (debt)−112.2Shareholders’ equity488.9Debt to equity0.31Fiscal year 2025Cash35.6Total debt162.5Net cash (debt)−126.9Shareholders’ equity476.4Debt to equity0.34
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 20.0 21.9 23.4 23.5 32.9 28.6 31.6 152.8 41.4 35.6
Total debt 51.8 60.8 39.8 51.1 21.5 118.4 183.7 146.7 153.5 162.5
Net cash (debt) −31.8 −38.8 −16.5 −27.5 11.4 −89.9 −152.1 6.1 −112.2 −126.9
Shareholders’ equity 187.5 204.9 215.9 240.3 276.2 295.6 315.8 476.2 488.9 476.4
Debt to equity 0.28 0.30 0.18 0.21 0.08 0.40 0.58 0.31 0.31 0.34

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
356.5 414.1 453.9 482.0 423.0 495.0 553.1 604.8 671.3 781.0
Growth +16.1% +9.6% +6.2% −12.2% +17.0% +11.7% +9.3% +11.0% +16.3%
82.0 90.6 101.7 112.5 94.5 117.2 112.0 121.5 123.9 149.7
Growth +10.5% +12.2% +10.6% −16.0% +24.1% −4.4% +8.5% +2.0% +20.8%
32.5 35.9 41.3 45.0 42.0 46.5 46.1 52.0 58.3 69.3
49.5 54.7 60.3 67.4 52.4 70.6 56.8 50.5 63.0 86.7
Growth +10.5% +10.2% +11.8% −22.3% +34.8% −19.6% −11.1% +24.7% +37.6%
38.1 33.8 60.2 70.9 65.5 73.2 55.6 49.4 60.2 77.8
11.9 6.0 11.4 13.6 13.0 15.3 12.2 12.2 14.6 19.8
20.6 22.3 34.9 40.0 35.2 40.8 32.2 28.2 31.4 39.6
Growth +8.3% +56.7% +14.8% −12.1% +16.0% −21.2% −12.2% +11.3% +26.0%
Per share
n/a n/a n/a 2.45 2.48 2.41 2.25 1.28 1.84 1.42
n/a n/a n/a 2.45 2.48 2.41 2.25 1.28 1.84 1.42
Growth +1.2% −2.8% −6.6% −43.1% +43.8% −22.8%
12.5 n/a n/a 12.8 12.8 12.9 13.0 14.2 15.1 15.2
12.5 n/a n/a 12.8 12.8 12.9 13.0 14.2 15.1 15.2
Growth +0.6% +0.5% +0.7% +9.3% +6.2% +0.7%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 13.0% a year over five years, and earnings per share fell 10.6% a year.
  • The diluted share count rose 18.2% in five years, which is dilution.
  • Operating margin is down 1.3 points on five years ago, at 11.1%.
  • Profitable in every one of the 10 years on file.