U S Physical Therapy (USPH) Gross Margin (2011 - 2026)
U S Physical Therapy (USPH) posted Gross Margin of 16.52% for Q1 2026, down 16.56% sequentially from 19.8% in Q4 2025, and down 39.0% YoY from 27.08% in Q1 2025.
U S Physical Therapy (USPH) Gross Margin (2011 - 2026) Analysis & Trends
U S Physical Therapy has reported Gross Margin for 16 years, with the latest figure at 16.52% in Q1 2026.
- Quarterly Gross Margin fell 39.0% year-over-year to 16.52% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 19.03% (up 93.0% YoY) and the FY2025 annual result came in at 19.17%, up 71.0% from the prior year.
- Gross Margin retreated to 16.52% in Q1 2026 per USPH's latest filing, from 19.8% in the prior quarter.
- Over five years, Gross Margin peaked at 21.91% in Q2 2022 and troughed at 16.52% in Q1 2026.
- A 5-year average of 19.31% and a median of 19.71% in 2022 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2025: Gross Margin sank 511 bps in 2022, then surged 177 bps in 2025.
- Over 5 years, Gross Margin stood at 19.71% in 2022, then gained by 0 bps to 19.71% in 2023, then dropped by 9 bps to 18.03% in 2024, then grew by 10 bps to 19.8% in 2025, then decreased by 17 bps to 16.52% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 16.52%, 19.8%, and 18.7% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 88.19 Bn | 90.61 Bn | 15.19 Bn | 75.07% |
| 2 | Tenet Healthcare | 21.59 Bn | 21.56 Bn | 4.45 Bn | 79.14% |
| 3 | Encompass Health | 12.19 Bn | 12.86 Bn | 1.34 Bn | 84.04% |
| 4 | Davita | 11.52 Bn | 12.39 Bn | 1.16 Bn | 32.70% |
| 5 | Ensign | 10.59 Bn | 10.27 Bn | 306.24 Mn | 21.26% |
| 6 | Universal Health Services | 8.79 Bn | 8.72 Bn | 3.29 Bn | 70.85% |
| 7 | Pacs | 7.04 Bn | 6.88 Bn | 338.46 Mn | 23.70% |
| 8 | Chemed | 6.96 Bn | 6.92 Bn | 221.47 Mn | 32.90% |
| 9 | Concentra Group Holdings Parent | 4.52 Bn | 4.38 Bn | 192.10 Mn | 31.70% |
| 10 | U S Physical Therapy | 1.21 Bn | 1.50 Bn | 41.94 Mn | 19.59% |
Historic Data
Download 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% |