U S Physical Therapy (USPH) Gross Margin (2011 - 2026)
U S Physical Therapy's Gross Margin came in at 19.59% for Q2 2026, down 1.50 percentage points from 21.09% a year earlier but up 3.08 percentage points from the prior quarter.
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Analysis
U S Physical Therapy (USPH) Gross Margin (2011 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, U S Physical Therapy reported Gross Margin of 18.68%, up 0.26 percentage points year-over-year; for FY2025, it was 19.17%, up 0.71 percentage points from FY2024.
- Gross Margin carries a five-year change of -3.16 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 18.46% in FY2024 (-1.63 pp), 20.09% in FY2023 (-0.16 pp), 20.25% in FY2022 (-3.42 pp) and 23.67% in FY2021 (+1.34 pp).
- The five-year range for quarterly Gross Margin is 16.52% (Q1 2026) to 23.67% (Q3 2021).
- Year-over-year, Gross Margin increased in three of the last eight quarters, with an average year-over-year change of -0.28 percentage points.
- The fastest year-over-year change in Gross Margin over five years came in Q4 2025 (a gain of 1.77 percentage points), and the weakest in Q2 2022 (a drop of 5.11 percentage points).
- Business Quant data shows USPH's Gross Margin at 16.52% (Q1 2026), 19.80% (Q4 2025) and 18.70% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 106.37 Bn | 104.21 Bn | 17.03 Bn | 85.78% |
| 2 | Natera | 45.03 Bn | 40.66 Bn | 513.47 Mn | 64.67% |
| 3 | Labcorp Holdings | 30.12 Bn | 28.22 Bn | 1.11 Bn | 29.08% |
| 4 | Quest Diagnostics | 28.44 Bn | 26.52 Bn | 1.04 Bn | 33.65% |
| 5 | Guardant Health | 20.93 Bn | 16.54 Bn | 236.15 Mn | 65.42% |
| 6 | BrightSpring Health Services | 14.41 Bn | 11.29 Bn | 518.55 Mn | 12.31% |
| 7 | Tempus AI | 14.27 Bn | 11.42 Bn | 266.70 Mn | 64.81% |
| 8 | Encompass Health | 13.98 Bn | 14.44 Bn | 1.54 Bn | 95.96% |
| 9 | Davita | 11.35 Bn | 10.22 Bn | 1.13 Bn | 31.50% |
| 10 | U S Physical Therapy | 1.48 Bn | 1.71 Bn | 43.03 Mn | 19.34% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 19.34% |
| 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% |
API Access
U S Physical Therapy Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=USPH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "USPH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=USPH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();