U S Physical Therapy (USPH) Gross Margin (2011 - 2026)

U S Physical Therapy's (USPH) quarterly Gross Margin came in at 16.52% in Q1 2026, down 39.0% year-on-year from 27.08% in Q1 2025, and down 16.56% quarter-over-quarter from 19.8% in Q4 2025.

U S Physical Therapy (USPH) Gross Margin (2011 - 2026) Analysis & Trends

U S Physical Therapy has disclosed Gross Margin across 16 years of filings, most recently posting 16.52% for Q1 2026.

  • Gross Margin for Q1 2026 came in at 16.52%, down 39.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 19.03% (up 93.0% YoY), and the FY2025 annual result was 19.17%, up 71.0% from the prior year.
  • Gross Margin came in at 16.52% for Q1 2026 at U S Physical Therapy, down from 19.8% in the prior quarter.
  • In the past five years, Gross Margin ranged from a high of 21.91% in Q2 2022 to a low of 16.52% in Q1 2026.
  • The 5-year median for Gross Margin is 19.71% (2022), against an average of 19.31%.
  • Across the five-year window, Gross Margin sank 511 bps in 2022 and soared 177 bps in 2025, its largest moves.
  • U S Physical Therapy's Gross Margin stood at 19.71% in 2022, then increased by 0 bps to 19.71% in 2023, then decreased by 9 bps to 18.03% in 2024, then advanced by 10 bps to 19.8% in 2025, then fell by 17 bps to 16.52% in 2026.
  • The last three Gross Margin figures came in at 16.52% (Q1 2026), 19.8% (Q4 2025), and 18.7% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Gross Margin (Qtr)
1 HCA Healthcare 83.85 Bn 86.23 Bn 16.26 Bn 85.07%
2 Tenet Healthcare 14.98 Bn 14.15 Bn 4.41 Bn 82.10%
3 Davita 13.99 Bn 14.84 Bn 1.07 Bn 31.42%
4 Encompass Health 9.72 Bn 10.34 Bn 1.34 Bn 84.75%
5 Ensign 8.90 Bn 8.31 Bn 293.37 Mn 21.12%
6 Universal Health Services 8.59 Bn 8.55 Bn 3.21 Bn 71.44%
7 Fresenius Medical Care AG 7.67 Bn 5.29 Bn -4.26 Bn -18,654.20%
8 Chemed 5.97 Bn 5.96 Bn 215.76 Mn 32.82%
9 Pacs 5.74 Bn 5.50 Bn 345.96 Mn 24.35%
10 U S Physical Therapy 961.89 Mn 1.25 Bn 32.75 Mn 16.52%

Historic Data

Download Data
DateValue
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%
Jun 30, 2021 27.03%