U S Physical Therapy (USPH) Gross Margin (2011 - 2026)
U S Physical Therapy's Gross Margin came in at 19.59% for Q2 2026, down 1.50 percentage points from 21.09% a year earlier but up 3.08 percentage points from the prior quarter.
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Analysis
U S Physical Therapy (USPH) Gross Margin (2011 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, U S Physical Therapy reported Gross Margin of 18.68%, up 0.26 percentage points year-over-year; for FY2025, it was 19.17%, up 0.71 percentage points from FY2024.
- Gross Margin carries a five-year change of -3.16 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 18.46% in FY2024 (-1.63 pp), 20.09% in FY2023 (-0.16 pp), 20.25% in FY2022 (-3.42 pp) and 23.67% in FY2021 (+1.34 pp).
- The five-year range for quarterly Gross Margin is 16.52% (Q1 2026) to 23.67% (Q3 2021).
- Year-over-year, Gross Margin increased in three of the last eight quarters, with an average year-over-year change of -0.28 percentage points.
- The fastest year-over-year change in Gross Margin over five years came in Q4 2025 (a gain of 1.77 percentage points), and the weakest in Q2 2022 (a drop of 5.11 percentage points).
- Business Quant data shows USPH's Gross Margin at 16.52% (Q1 2026), 19.80% (Q4 2025) and 18.70% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 94.29 Bn | 93.74 Bn | - | - |
| 2 | Natera | 59.14 Bn | 54.82 Bn | 485.19 Mn | 64.46% |
| 3 | Quest Diagnostics | 26.23 Bn | 24.66 Bn | 1.03 Bn | 33.75% |
| 4 | Labcorp Holdings | 25.04 Bn | 22.81 Bn | 1.11 Bn | 29.80% |
| 5 | Guardant Health | 23.69 Bn | 19.76 Bn | 219.03 Mn | 65.39% |
| 6 | Tenet Healthcare | 20.77 Bn | 11.92 Bn | - | - |
| 7 | Tempus AI | 14.91 Bn | 11.94 Bn | 246.50 Mn | 64.45% |
| 8 | Encompass Health | 12.24 Bn | 12.70 Bn | - | - |
| 9 | Davita | 11.39 Bn | 10.15 Bn | 1.16 Bn | 32.70% |
| 10 | U S Physical Therapy | 1.29 Bn | 1.48 Bn | 41.94 Mn | 19.59% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 19.59% |
| Mar 31, 2026 | 16.52% |
| Dec 31, 2025 | 19.80% |
| Sep 30, 2025 | 18.70% |
| Jun 30, 2025 | 21.09% |
| Mar 31, 2025 | 16.90% |
| Dec 31, 2024 | 18.03% |
| Sep 30, 2024 | 17.34% |
| Jun 30, 2024 | 20.25% |
| Mar 31, 2024 | 18.24% |
| Dec 31, 2023 | 19.71% |
| Sep 30, 2023 | 18.62% |
| Jun 30, 2023 | 21.26% |
| Mar 31, 2023 | 20.78% |
| Dec 31, 2022 | 19.71% |
| Sep 30, 2022 | 19.19% |
| Jun 30, 2022 | 21.91% |
| Mar 31, 2022 | 20.19% |
| Dec 31, 2021 | 20.94% |
| Sep 30, 2021 | 23.67% |
API Access
U S Physical Therapy Gross Margin 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=gross-margin&ticker=USPH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=USPH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();