U S Physical Therapy (USPH) Cost of Revenue (2011 - 2026)
U S Physical Therapy (USPH) reported Cost of Revenue of $172.12 million for Q2 2026, up 10.5% from $155.72 million a year earlier and up 4.0% from the prior quarter.
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Analysis
U S Physical Therapy (USPH) Cost of Revenue (2011 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, U S Physical Therapy's Cost of Revenue came in at $660.5 million, up 11.0% year-over-year; for FY2025, it was $631.3 million, up 15.3% from FY2024.
- Cost of Revenue has increased for five consecutive years, with a five-year compound annual growth rate of 14.0% (FY2020 to FY2025).
- By year, Cost of Revenue came in at $547.42 million in FY2024 (+13.3%), $483.29 million in FY2023 (+9.6%), $441.12 million in FY2022 (+16.7%) and $377.84 million in FY2021 (+15.0%).
- The Q2 2026 figure ranks as the highest quarterly Cost of Revenue in data going back to Q2 2011.
- Year over year, Cost of Revenue has now increased in each of the last 21 quarters, with growth averaging 14.2% over the last eight quarters.
- Over the past five years, the year-over-year growth in Cost of Revenue ranged from 8.2% (Q1 2024) to 22.3% (Q3 2021).
- Per Business Quant data, the three quarters before Q2 2026 came in at $165.53 million (Q1 2026), $162.59 million (Q4 2025) and $160.26 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 106.37 Bn | 104.21 Bn | 17.03 Bn | 2.82 Bn |
| 2 | Natera | 45.03 Bn | 40.66 Bn | 513.47 Mn | 280.51 Mn |
| 3 | Labcorp Holdings | 30.12 Bn | 28.22 Bn | 1.11 Bn | 2.70 Bn |
| 4 | Quest Diagnostics | 28.44 Bn | 26.52 Bn | 1.04 Bn | 2.06 Bn |
| 5 | Guardant Health | 20.93 Bn | 16.54 Bn | 236.15 Mn | 124.82 Mn |
| 6 | BrightSpring Health Services | 14.41 Bn | 11.29 Bn | 518.55 Mn | 278.27 Mn |
| 7 | Tempus AI | 14.27 Bn | 11.42 Bn | 266.70 Mn | 144.84 Mn |
| 8 | Encompass Health | 13.98 Bn | 14.44 Bn | 1.54 Bn | 65.00 Mn |
| 9 | Davita | 11.35 Bn | 10.22 Bn | 1.13 Bn | 2.45 Bn |
| 10 | U S Physical Therapy | 1.48 Bn | 1.71 Bn | 43.03 Mn | 179.53 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 179.53 Mn |
| Jun 30, 2026 | 172.12 Mn |
| Mar 31, 2026 | 165.53 Mn |
| Dec 31, 2025 | 162.59 Mn |
| Sep 30, 2025 | 160.26 Mn |
| Jun 30, 2025 | 155.72 Mn |
| Mar 31, 2025 | 152.72 Mn |
| Dec 31, 2024 | 147.92 Mn |
| Sep 30, 2024 | 138.90 Mn |
| Jun 30, 2024 | 133.33 Mn |
| Mar 31, 2024 | 127.27 Mn |
| Dec 31, 2023 | 124.29 Mn |
| Sep 30, 2023 | 122.08 Mn |
| Jun 30, 2023 | 119.28 Mn |
| Mar 31, 2023 | 117.65 Mn |
| Dec 31, 2022 | 113.35 Mn |
| Sep 30, 2022 | 112.82 Mn |
| Jun 30, 2022 | 109.84 Mn |
| Mar 31, 2022 | 105.12 Mn |
| Dec 31, 2021 | 102.65 Mn |
API Access
U S Physical Therapy Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=USPH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "USPH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=USPH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();