U S Physical Therapy (NYSE: USPH) financial statements
The consolidated income statement, balance sheet and cash flow statement of U S Physical Therapy for its last 10 fiscal years, as filed with the regulator, in millions of US dollars. At the end of fiscal 2025 it had $1,204m in total assets and $476.4m in equity.
Income statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $781.0m | $671.3m | $604.8m | $553.1m | $495.0m | $423.0m | $482.0m | $453.9m | $414.1m | $356.5m |
| Gross profit | $149.7m | $123.9m | $121.5m | $112.0m | $117.2m | $94.5m | $112.5m | $101.7m | $90.6m | $82.0m |
| Operating profit | $86.7m | $63.0m | $50.5m | $56.8m | $70.6m | $52.4m | $67.4m | $60.3m | $54.7m | $49.5m |
| Finance costs | — | — | — | — | — | — | $2.1m | $2.0m | $21.1m | $11.5m |
| Profit before tax | $77.8m | $60.2m | $49.4m | $55.6m | $73.2m | $65.5m | $70.9m | $60.2m | $33.8m | $38.1m |
| Income tax | $19.8m | $14.6m | $12.2m | $12.2m | $15.3m | $13.0m | $13.6m | $11.4m | $6.0m | $11.9m |
| Net profit | $39.6m | $31.4m | $28.2m | $32.2m | $40.8m | $35.2m | $40.0m | $34.9m | $22.3m | $20.6m |
| Earnings per share | $1.42 | $1.84 | $1.28 | $2.25 | $2.41 | $2.48 | $2.45 | — | — | — |
| Diluted earnings per share | $1.42 | $1.84 | $1.28 | $2.25 | $2.41 | $2.48 | $2.45 | $1.31 | $1.76 | $1.64 |
| Depreciation and amortisation | $22.4m | $18.7m | $15.7m | $14.7m | $11.6m | $10.5m | $10.1m | $9.8m | $9.7m | $8.8m |
Balance sheet
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $1,204m | $1,167m | $997.2m | $858.2m | $749.4m | $594.4m | $630.5m | $443.2m | $419.0m | $351.2m |
| Current assets | $140.0m | $137.6m | $233.4m | $111.3m | $95.2m | $87.6m | $85.4m | $79.2m | $77.1m | $66.0m |
| Property, plant and equipment | $35.7m | $32.1m | $26.1m | $24.7m | $23.0m | $21.7m | $22.1m | $20.2m | $20.4m | $19.2m |
| Goodwill | $692.4m | $667.2m | $509.6m | $494.1m | $434.7m | $345.6m | $317.7m | $293.5m | $271.3m | $226.8m |
| Cash | $35.6m | $41.4m | $152.8m | $31.6m | $28.6m | $32.9m | $23.5m | $23.4m | $21.9m | $20.0m |
| Total liabilities | $433.8m | $408.4m | $345.0m | $373.6m | $297.0m | $184.4m | $181.4m | $92.3m | $110.3m | $162.5m |
| Current liabilities | $139.0m | $116.3m | $102.2m | $85.5m | $83.5m | $93.5m | $60.6m | $41.9m | $39.6m | $24.6m |
| Equity | $476.4m | $488.9m | $476.2m | $315.8m | $295.6m | $276.2m | $240.3m | $215.9m | $204.9m | $187.5m |
| Equity including minorities | $476.9m | $490.0m | $477.4m | $317.1m | $297.2m | $277.6m | $241.7m | $216.9m | $206.1m | $188.7m |
| Minority interests | $0.5m | $1.1m | $1.2m | $1.3m | $1.6m | $1.5m | $1.4m | $0.9m | $1.2m | $1.1m |
Cash flow statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $75.1m | $74.9m | $82.0m | $58.5m | $76.4m | $100.0m | $62.4m | $73.0m | $56.5m | $51.1m |
| Investing cash flow | −$36.7m | −$149.5m | −$45.0m | −$81.3m | −$124.1m | −$51.2m | −$38.0m | −$23.9m | −$43.6m | −$32.5m |
| Financing cash flow | −$44.1m | −$37.0m | $84.3m | $25.8m | $43.4m | −$39.4m | −$24.3m | −$47.7m | −$11.1m | −$14.3m |
| Capital expenditure | −$14.1m | −$9.2m | −$9.3m | −$8.2m | −$8.2m | −$7.6m | −$10.2m | −$7.2m | −$7.1m | −$8.3m |
| Dividends paid | −$27.4m | −$26.5m | −$24.1m | −$21.3m | −$18.8m | −$4.1m | −$14.6m | −$11.7m | −$10.1m | −$8.5m |
Where each figure comes from
From the annual report (Form 10-K) that U S Physical Therapy files with the SEC. The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the U S Physical Therapy page.
Dividend per share of U S Physical Therapy by fiscal year, with the filing behind every figure: U S Physical Therapy dividend history.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.