U S Physical Therapy (USPH) Operating Expenses (2010 - 2026)
U S Physical Therapy (USPH) posted Operating Expenses of $165.5 million for Q1 2026, up 1.81% sequentially from $162.6 million in Q4 2025, and up 8.39% YoY from $152.7 million in Q1 2025.
U S Physical Therapy (USPH) Operating Expenses (2010 - 2026) Analysis & Trends
U S Physical Therapy has reported Operating Expenses for 17 years, with the latest figure at $165.5 million in Q1 2026.
- Quarterly Operating Expenses rose 8.39% year-over-year to $165.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $644.1 million (up 12.43% YoY) and the FY2025 annual result came in at $631.3 million, up 15.32% from the prior year.
- Operating Expenses advanced to $165.5 million in Q1 2026 per USPH's latest filing, from $162.6 million in the prior quarter.
- Over five years, Operating Expenses peaked at $165.5 million in Q1 2026 and troughed at $105.1 million in Q1 2022.
- A 5-year average of $133.5 million and a median of $127.3 million in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2024: Operating Expenses grew 21.56% in 2022, then increased 8.18% in 2024.
- Over 5 years, Operating Expenses stood at $113.4 million in 2022, then grew by 9.65% to $124.3 million in 2023, then increased by 19.02% to $147.9 million in 2024, then rose by 9.92% to $162.6 million in 2025, then increased by 1.81% to $165.5 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $165.5 million, $162.6 million, and $160.3 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 89.17 Bn | 88.16 Bn | 15.19 Bn | 17.74 Bn |
| 2 | Tenet Healthcare | 22.30 Bn | 20.13 Bn | 4.45 Bn | 3.00 Mn |
| 3 | Encompass Health | 12.22 Bn | 12.08 Bn | 1.34 Bn | 1.31 Bn |
| 4 | Davita | 11.68 Bn | 10.99 Bn | 1.16 Bn | 2.98 Bn |
| 5 | Ensign | 10.53 Bn | 10.21 Bn | 306.24 Mn | 1.32 Bn |
| 6 | Universal Health Services | 10.14 Bn | 10.00 Bn | 3.29 Bn | 4.12 Bn |
| 7 | Pacs | 7.07 Bn | 6.91 Bn | 338.46 Mn | 1.32 Bn |
| 8 | Chemed | 7.04 Bn | 7.00 Bn | 221.47 Mn | 584.05 Mn |
| 9 | Fresenius Medical Care AG | 6.38 Bn | 4.69 Bn | 1.52 Bn | 901.58 Mn |
| 10 | U S Physical Therapy | 1.22 Bn | 1.20 Bn | 41.94 Mn | 172.12 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 172.12 Mn |
| Mar 31, 2026 | 165.53 Mn |
| Dec 31, 2025 | 162.59 Mn |
| Sep 30, 2025 | 160.26 Mn |
| Jun 30, 2025 | 155.72 Mn |
| Mar 31, 2025 | 152.72 Mn |
| Dec 31, 2024 | 147.92 Mn |
| Sep 30, 2024 | 138.90 Mn |
| Jun 30, 2024 | 133.33 Mn |
| Mar 31, 2024 | 127.27 Mn |
| Dec 31, 2023 | 124.29 Mn |
| Sep 30, 2023 | 122.08 Mn |
| Jun 30, 2023 | 119.28 Mn |
| Mar 31, 2023 | 117.65 Mn |
| Dec 31, 2022 | 113.35 Mn |
| Sep 30, 2022 | 112.82 Mn |
| Jun 30, 2022 | 109.84 Mn |
| Mar 31, 2022 | 105.12 Mn |
| Dec 31, 2021 | 102.65 Mn |
| Sep 30, 2021 | 96.09 Mn |