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
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%