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| 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% |