U S Physical Therapy (USPH) Gross Margin (2011 - 2026)
U S Physical Therapy's (USPH) quarterly Gross Margin came in at 19.59% in Q2 2026, down 150.0% year-over-year from 39.19% in Q2 2025, and up 18.63% quarter-over-quarter from 16.52% in Q1 2026.
Analysis
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 19.59% for Q2 2026.
- In Q2 2026, Gross Margin fell 150.0% year-over-year to 19.59%; the TTM figure through Jun 2026 stood at 18.68% (up 26.0% YoY), while the FY2025 annual figure was 19.17%, up 71.0% from the prior year.
- Gross Margin came in at 19.59% for Q2 2026 at U S Physical Therapy, up from 16.52% 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.
- Average Gross Margin over 5 years is 19.32%, with a median of 19.65% recorded in 2026.
- Year-over-year, Gross Margin plunged 511 bps in 2022 and jumped 177 bps in 2025.
- Over 5 years, 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 retreated by 1 bps to 19.59% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 19.59% in Q2 2026, 16.52% in Q1 2026, and 19.8% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Davita | 11.76 Bn | 12.64 Bn | 1.16 Bn | 32.70% |
| 2 | RadNet | 5.80 Bn | 5.37 Bn | 88.08 Mn | 14.14% |
| 3 | Concentra Group Holdings Parent | 4.40 Bn | 4.26 Bn | 192.10 Mn | 31.70% |
| 4 | Privia Health | 2.61 Bn | 2.25 Bn | - | - |
| 5 | Pediatrix Medical | 2.20 Bn | 1.79 Bn | - | - |
| 6 | Fresenius Medical Care AG | 2.11 Bn | 1.41 Bn | 1.52 Bn | 26.95% |
| 7 | Progyny | 2.01 Bn | 1.77 Bn | 89.30 Mn | 25.48% |
| 8 | Surgery Partners | 1.87 Bn | 3.08 Bn | 622.10 Mn | 73.28% |
| 9 | U S Physical Therapy | 1.18 Bn | 1.47 Bn | 41.94 Mn | 19.59% |
| 10 | Starling Oncology | 595.78 Mn | 554.69 Mn | 27.17 Mn | 16.84% |
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% |