# U S Physical Therapy Inc: overview

USPH · NYSE · CIK 885978 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/usph.md) · [Financials](/companies/usph/financials.md) · [Filings](/companies/usph/filings.md) · [Insiders](/companies/usph/insiders.md)

Latest reported revenue: [$214.1m](/filings/0001140361-26-031825.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 7, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001140361-26-031825).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [168](/filings/0001140361-25-041152.md) | [180 d](/filings/0001140361-26-007170.md) | [184](/filings/0001140361-26-020025.md) | [197](/filings/0001140361-26-031825.md) | [197](/filings/0001140361-25-041152.md) | [203 d](/filings/0001140361-26-007170.md) | [198](/filings/0001140361-26-020025.md) | [214](/filings/0001140361-26-031825.md) |
| Gross margin | % | [17.3%](/filings/0001140361-25-041152.md) | [18.0% d](/filings/0001140361-26-007170.md) | [16.9%](/filings/0001140361-26-020025.md) | [21.1%](/filings/0001140361-26-031825.md) | [18.7%](/filings/0001140361-25-041152.md) | [19.8% d](/filings/0001140361-26-007170.md) | [16.5%](/filings/0001140361-26-020025.md) | [19.6%](/filings/0001140361-26-031825.md) |
| Operating margin | % | [7.6%](/filings/0001140361-25-041152.md) | [10.9% d](/filings/0001140361-26-007170.md) | [10.7%](/filings/0001140361-26-020025.md) | [12.6%](/filings/0001140361-26-031825.md) | [12.8%](/filings/0001140361-25-041152.md) | [8.3% d](/filings/0001140361-26-007170.md) | [6.3%](/filings/0001140361-26-020025.md) | [10.3%](/filings/0001140361-26-031825.md) |
| Net margin | % | [3.9%](/filings/0001140361-25-041152.md) | [5.1% d](/filings/0001140361-26-007170.md) | [5.4%](/filings/0001140361-26-020025.md) | [6.3%](/filings/0001140361-26-031825.md) | [6.7%](/filings/0001140361-25-041152.md) | [2.0% d](/filings/0001140361-26-007170.md) | [2.5%](/filings/0001140361-26-020025.md) | [4.6%](/filings/0001140361-26-031825.md) |
| Diluted EPS | $ per share | [0.39](/filings/0001140361-25-041152.md) | not reported | [0.80](/filings/0001140361-26-020025.md) | [0.58](/filings/0001140361-26-031825.md) | [0.48](/filings/0001140361-25-041152.md) | not reported | [(0.12)](/filings/0001140361-26-020025.md) | [0.25](/filings/0001140361-26-031825.md) |
| Free cash flow | $m | [19.6 d](/filings/0001140361-25-041152.md) | [16.9 d](/filings/0001140361-26-007170.md) | [(7.3)](/filings/0001140361-26-020025.md) | [31.6 d](/filings/0001140361-26-031825.md) | [15.6 d](/filings/0001140361-25-041152.md) | [21.0 d](/filings/0001140361-26-007170.md) | [(1.6)](/filings/0001140361-26-020025.md) | [29.0 d](/filings/0001140361-26-031825.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [495](/filings/0001140361-24-010454.md) | [553](/filings/0001140361-25-006750.md) | [605](/filings/0001140361-26-007170.md) | [671](/filings/0001140361-26-007170.md) | [781](/filings/0001140361-26-007170.md) |
| Gross margin | % | [23.7%](/filings/0001140361-24-010454.md) | [20.3%](/filings/0001140361-25-006750.md) | [20.1%](/filings/0001140361-26-007170.md) | [18.5%](/filings/0001140361-26-007170.md) | [19.2%](/filings/0001140361-26-007170.md) |
| Operating margin | % | [14.3%](/filings/0001140361-24-010454.md) | [10.3%](/filings/0001140361-25-006750.md) | [8.4%](/filings/0001140361-26-007170.md) | [9.4%](/filings/0001140361-26-007170.md) | [11.1%](/filings/0001140361-26-007170.md) |
| Net margin | % | [8.2%](/filings/0001140361-24-010454.md) | [5.8%](/filings/0001140361-25-006750.md) | [4.7%](/filings/0001140361-26-007170.md) | [4.7%](/filings/0001140361-26-007170.md) | [5.1%](/filings/0001140361-26-007170.md) |
| Diluted EPS | $ per share | [2.41](/filings/0001140361-24-010454.md) | [2.25](/filings/0001140361-25-006750.md) | [1.28](/filings/0001140361-26-007170.md) | [1.84](/filings/0001140361-26-007170.md) | [1.42](/filings/0001140361-26-007170.md) |
| Free cash flow | $m | [68.2](/filings/0001140361-24-010454.md) | [50.3](/filings/0001140361-25-006750.md) | [72.7](/filings/0001140361-26-007170.md) | [65.8](/filings/0001140361-26-007170.md) | [61.0](/filings/0001140361-26-007170.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/usph/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $155.5m | 2,264,202 |  | Added +55,691 |
| [Bahl & Gaynor LLC](/funds/872259.md) | 2026-06-30 | $59.2m | 861,574 |  | Added +16,186 |
| [KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC](/funds/1021223.md) | 2026-06-30 | $58.1m | 846,674 |  | Reduced −219,182 |
| [Copeland Capital Management, LLC](/funds/1541743.md) | 2026-06-30 | $57.8m | 841,544 |  | Added +4,713 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $48.6m | 707,186 |  | Added +58,799 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $48.0m | 698,690 |  | Reduced −303,778 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $46.3m | 674,195 |  | Added +10,133 |
| [NEUBERGER BERMAN GROUP LLC](/funds/1465109.md) | 2026-06-30 | $41.1m | 598,894 |  | Added +589,645 |
| [AMERICAN CENTURY COMPANIES INC](/funds/748054.md) | 2026-06-30 | $38.4m | 558,818 |  | Added +222,371 |
| [SOUTHERNSUN ASSET MANAGEMENT, LLC](/funds/1089755.md) | 2026-06-30 | $36.2m | 527,765 |  | Added +87,861 |

## Recent filings

[All 1,280 filings](/companies/usph/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-09-28 | 17:08 ET | [8-K](/filings/0000885978-26-000060.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0000885978-26-000060 |
| 2026-09-21 | 16:17 ET | [8-K](/filings/0000885978-26-000057.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0000885978-26-000057 |
| 2026-08-14 | 16:17 ET | [8-K](/filings/0000885978-26-000052.md) | 1.01 Entry into a material agreement; 5.02 Departure or appointment of officers or directors; 8.01 Other events; 9.01 Financial statements and exhibits | 0000885978-26-000052 |
| 2026-08-12 | 16:09 ET | [8-K](/filings/0000885978-26-000048.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000885978-26-000048 |
| 2026-08-10 | 16:12 ET | [8-K](/filings/0000885978-26-000045.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000885978-26-000045 |
| 2026-08-07 | 16:08 ET | [10-Q](/filings/0001140361-26-031825.md) | Quarterly report, period 2026-06-30 | 0001140361-26-031825 |
| 2026-08-06 | 16:10 ET | [8-K](/filings/0000885978-26-000042.md) | 2.02 Results of operations; 8.01 Other events; 9.01 Financial statements and exhibits | 0000885978-26-000042 |
| 2026-07-06 | 16:22 ET | [8-K](/filings/0000885978-26-000039.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0000885978-26-000039 |
| 2026-05-19 | 16:50 ET | [8-K](/filings/0000885978-26-000027.md) | 5.07 Shareholder vote results | 0000885978-26-000027 |
| 2026-05-11 | 17:12 ET | [8-K](/filings/0000885978-26-000024.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0000885978-26-000024 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001140361-26-007170.md), filed Feb 27, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/ceceb528-2666-4b37-b5e0-73033a4a3464)

## About the filer

- CIK: 885978
- Tickers: USPH
- Exchange: NYSE
- SIC code: 8000 Services-Health Services
- State of incorporation: NV
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 12:40 ET. No prices; not investment advice.