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 (USPH) has 16 years of Gross Margin data on file, last reported 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.
- The five-year high for Gross Margin was 21.91% in Q2 2022, with the low at 16.52% in Q1 2026.
- Average Gross Margin over 5 years is 19.31%, with a median of 19.71% recorded in 2022.
- Year-over-year, Gross Margin tumbled 511 bps in 2022 and jumped 177 bps in 2025.
- U S Physical Therapy's Gross Margin stood at 19.71% in 2022, then advanced by 0 bps to 19.71% in 2023, then declined by 9 bps to 18.03% in 2024, then increased by 10 bps to 19.8% in 2025, then slipped by 17 bps to 16.52% in 2026.
- Business Quant data shows USPH's Gross Margin at 16.52% in Q1 2026, 19.8% in Q4 2025, and 18.7% in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 87.94 Bn | 90.32 Bn | 16.26 Bn | 85.07% |
| 2 | Chemed | 18.08 Bn | 18.07 Bn | 215.76 Mn | 32.82% |
| 3 | Tenet Healthcare | 16.59 Bn | 15.76 Bn | 4.41 Bn | 82.10% |
| 4 | Davita | 15.37 Bn | 16.23 Bn | 1.07 Bn | 31.42% |
| 5 | Encompass Health | 10.07 Bn | 10.70 Bn | 1.34 Bn | 84.75% |
| 6 | Ensign | 9.52 Bn | 8.93 Bn | 293.37 Mn | 21.12% |
| 7 | Universal Health Services | 9.19 Bn | 9.15 Bn | 3.21 Bn | 71.44% |
| 8 | Pacs | 6.96 Bn | 6.72 Bn | 345.96 Mn | 24.35% |
| 9 | Ww International | 6.14 Bn | 5.98 Bn | -149.29 Mn | 74.36% |
| 10 | U S Physical Therapy | 1.08 Bn | 1.37 Bn | 32.75 Mn | 16.52% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |